A Mountain Camp in Africa

Nature has carved out a rugged, beautiful land

Hidden away in its own private corner of Africa, away from the glamour spots and the business centers, the country of Namibia is filled with natural wonders quite different from most of the rest of the continent. It remains pretty much undiscovered by the travelers who've been everywhere else and done everything else...so you can enjoy the memorable scenery and wildlife without a hundred other people snapping photos right next to you. (Indeed, there won't be a whole lot of Namibians next to you, either - there are only about two million of them, in a territory four times the size of the United Kingdom.)

Those two million spread-out souls (only six per square mile) inhabit a land of stark landscapes and sweeping vistas carved out by nature over the ages. In the past, much of the interior was inaccessible to foreigners. But not so much anymore. And one of the best places to see it is from the vantage point of a real mountain camp.

Etendeka Mountain Camp sits in the foothills of the dramatic Grootberg massif, amidst the ancient volcanic soil of northern Damaraland. The mountains here are flat-topped, and lava flows from the past couple of million years have left them strewn with boulders.

How many bars have views like this?

There are ten well-equipped tents at Etendeka, all scattered around (and connected by pathway to) the main dining tent. Each tent has recently been upgraded, with luxury mattresses and high-quality cotton linens, and re-done bathrooms. However, one thing hasn't changed - when you want to wash off the grime after a day of exploration, you'll be doing it in a traditional bucket shower.

The food is simple and wholesome, and based on local products and crops. It's cooked either on solar or open fires, and many guests enjoy it outside, under a star-filled sky. Dining is family-style buffet.

This is no jungle, but, rather, a collage of basalt mountains; undulating, desert-like sand dunes; and riverbeds shaded by the ubiquitous Mopane tree. The overwhelming impression, to the naked eye, is of a dry, unforgiving landscape. But you'll quickly discover that this landscape is very much alive, and host to a diverse collection of wildlife and vegetation.  Desert elephant and black rhino wander the boulder-strewn valleys along with cheetah and huge herds of oryx, who shake the ground when they run. Your guides will lead you out on exploratory hikes, as well as in open vehicles which afford up-close views of the wildlife. They'll point out the hoof prints of the mountain zebra...and the lions that are on their trail. Scorpions prowl behind volcanic rock shards, and snake eagles drift overhead, hunting for their evening meals.

A room with a view

Etendeka Mountain Camp is not for everyone. It's for the traveler who wants an off-the-beaten-path experience in the middle of nature at its most primeval. It's definitely rustic. It's a traditional tent camp, with the emphasis not on luxurious amenities, but on the natural surroundings - which look exactly as they must have looked thousands of years ago. And it's won numerous awards for its conservation ethic (such as using solar energy).

Dennis Liebenberg, co-owner of Etendeka, has been running the property for the past 20 years. He knows every inch of this rugged land. And his wonderful nighttime stories will remind you of scenes from the famous movie, "Out of Africa." 

Afterwards, you'll fall asleep to the sounds of authentic Africa.

Results of Trepp Bank Stress Tests: 1 in 8 US Banks Tested at Risk

When Trepp, LLC released its first Capital Adequacy Stress Test Report of U.S. banks on Wednesday, October 10th, one of the key findings was that commercial real estate exposure was a significant factor in a bank's failure of the test. CRE losses comprised nearly 40% of loan losses for banks that failed the test. "Commercial and industrial lending represented a secondary source of distress, with 24% of forecasted losses for the banks that failed the test," according to the Trepp report.

Trepp used its own model to evaluate the effects of various kinds of stress on the balance sheets and income statements of more than 6,000 banks. "This initial round of tests resulted in one in eight banks receiving a 'failing grade,'" according to the Trepp report. The company's model is adapted from the framework used by the US Federal Reserve Bank's Comprehensive Capital Analysis Review (CCAR) Stress Testing of the 19 largest banking institutions in March 2012.

Trepp's Capital Adequacy Stress Test (T-CAST) combined individual bank data with severely adverse inputs to create hypothetical scenarios for earnings, capital and asset performance for a nine-quarter projection period.

Florida Welcomes Crush of Canadian Home Buyers

If last year was the 'Year of the Brazilians' in Florida, 2013 is shaping up to be the 'Year of the Canadians.' At least that's the attitude of many Sunshine State real estate professionals and industry experts.

This sunny sentiment was especially evident this Wednesday at a sold Fort Lauderdale event hosted by the Broward Council of the Miami Association of Realtors. Dubbed, "Doing Business with Canada," the event was attended by more than 130 association members and affiliates, including guest speakers Madame Louise Leger, Consul General of Canada in Miami, South Florida condo expert Peter Zalewski of Condo Vultures and real estate broker Michelle Farber Ross, whose MMD Realty partner is Hall of Fame quarterback and Florida resident Dan Marino.

Other featured speakers were certified accountant Mark Chaves, senior partner with DaskalBolton, immigration attorney and EB-5 expert Larry Behar and EB-5 approved real estate developer Rodrigo Azpurua of Riviera Point Holdings.

Madame Leger, former Canadian Ambassador to Panama and Costa Rica, kicked off the event enlightening attendees with a steady dose of strong economic news as it relates to Florida and Canada's long-term relationship.

For instance, Madame Leger pointed out that Florida-Canada ties represent $7.6 billion in bilateral trade and some 300 Canadian-owned companies provide high-wage employment to 24,300 people across Florida. In all, 557,100 Florida jobs are dependent on Canadian trade and investment, including airline manufacturer Bombardier, Blackberry manufacturer RIM, Cirque du Soleil retailer Circle K and tech company Citrix Systems to name a few.

Miami Association of Realtors "Doing Business with Canada" Event

On the tourism front, 3.6 million Canadians visited Florida in 2011, spending approximately $4 billion. The total number of Canadian tourists more than doubles Florida's second-largest source of tourists: Brazil. As Madame Leger said jokingly, much to the contrary, Brazilians aren't the only foreigners coming to Florida each year.

Indeed, and once Canadians get a taste of Florida, they're increasingly putting up more permanent roots. For example, Canadian buyers represented 31 percent of Florida's international real estate purchases in 2011, according to the National Association of Realtor's August 2012 report, "Profile of International Home Buyers in Florida."

That's more than the number of buyers from the next four closest countries combined: Brazil (9 percent); United Kingdom (5 percent); Venezuela (7 percent) and Argentina (5 percent).

To sum it up, Canada is Florida's No. 1 international economic development partner when measured by the combined impact of bilateral trade, foreign investment, real estate purchases and tourism.

So long as the Canadian dollar remains slightly stronger than the U.S. dollar and the Canadian economy remains on relative stronger fiscal footing, Florida should continue to benefit from Canuck-led capital seeking safe havens and strong returns in the coming year(s).

One place Canadians are clearly focused on is the value-driven South Florida tri-county condo market of Miami-Dade, Broward and Palm Beach, which was devastated during the Great Recession.

Farber Ross, broker/managing partner of Fort Lauderdale-based MMD Realty, has been specializing in Canadian buyers and investors for a couple years.

Uruguay is Getting First Hyatt Hotel Property

Hyatt Montevideo

Hyatt Hotels Corporation recently confirmed the deal when Hyatt announced it entered into a management agreement with Dilony S.A.  Dilony expects the new 167-room hotel to be open in 2015 in Montevideo, and the Hyatt-branded property brings the total number of announced Hyatt-branded hotels under development in Latin America to 14.

Hyatt's latest Latin American property will be situated along the Rambla Republica del Peru, a major thoroughfare along the coastline of Montevideo.

"We are excited to work with Dilony S.A. on the first Hyatt-branded hotel in Uruguay," said Pat McCudden, Senior Vice President, Real Estate and Development, Hyatt Hotels & Resorts. "This project is an important step in our broader plans to establish Hyatt properties in all of the major gateway and capital cities in Latin America, and we believe that the Hyatt brand and the excellent location of the hotel in Montevideo will have strong appeal to business and leisure travelers visiting the region."

Located in Montevideo's Pocitos neighborhood, the Hyatt Montevideo will be in close proximity to many of area's business and leisure districts, including Ciudad Vieja, the World Trade Center and the Montevideo Shopping Center. Additionally, Carrasco International Airport is easily accessible from the hotel.

Of the hotel's 167 guestrooms, 14 will be suites that range in size from 484 to 816 square feet (45 square meters to 80 square meters). The hotel will also offer an all-day dining restaurant, a lobby lounge, a fitness center, an indoor pool, and more than 6,200 square feet of meeting and event space.

"We are pleased to work with Hyatt on the first Hyatt-branded hotel in Uruguay," said Daniel Weiss, President of Dilony S.A. and Director of Weiss Sztryk Weiss, the developer group. "We appreciate Hyatt's commitment to providing authentic hospitality to its guests, and we believe Hyatt Montevideo's excellent location along the Rambla and the sea coast will deliver an exceptional hospitality experience to guests visiting Montevideo."

As of June 30, 2012, Chicago-based Hyatt Hotels Corporation consisted of 492 properties in 45 countries and six continents.