Friday, February 29, 2008

Great Wolf Resorts to Present March 3 at Raymond James Investor Conference

MADISON, Wis., February 29, 2008—Great Wolf Resorts, Inc. (NASDAQ: WOLF), North America’s leading family of indoor waterpark resorts, today announced that John Emery, (photo at right) chief executive officer, will be a featured speaker at the Raymond James 29th Annual Institutional Investor Conference, which takes place March 2-5 in Orlando, Florida at the Hyatt Regency Grand Cypress Hotel.

Emery is scheduled to present at 9:50 a.m. Eastern Time (ET) on Monday, March 3, 2008.
A live webcast of the presentation will be available on the Great Wolf Web site,, by clicking on “Great Wolf Resorts” at the bottom of the page, then on the “Webcasts” link.

A replay of the presentation will be available on the company’s Web site for 30 days after the presentation. Please go to the site at least 15 minutes prior to the presentation to download and install any necessary audio software.

Analysts and portfolio managers who wish to attend the presentation or request a meeting with management should contact Raymond James at
About Great Wolf Resorts, Inc.

Great Wolf Resorts, Inc.® (NASDAQ: WOLF), Madison, Wis., is North America’s largest family of indoor waterpark resorts, and, through its subsidiaries and affiliates, owns and operates its family resorts under the Great Wolf Lodge® and Blue Harbor Resort™ brands.

Great Wolf Resorts is a fully integrated resort company and owns and/or manages Great Wolf Lodge locations in: Wisconsin Dells, Wis.; Sandusky, Ohio; Traverse City, Mich.; Kansas City, Kan.; Williamsburg, Va.; the Pocono Mountains, Pa.; Niagara Falls, Ontario; Mason, Ohio; and Grapevine, Texas; and Blue Harbor Resort & Conference Center in Sheboygan, Wis. Great Wolf Lodge properties are currently under construction in Grand Mound, Wash.; and Concord, N.C.

The company’s resorts are family-oriented destination facilities that generally feature 300 to 400 rooms and a large indoor entertainment area measuring 40,000 to 100,000 square feet. The all-suite properties offer a variety of room styles, arcade/game rooms, fitness centers, themed restaurants, spas, supervised children’s activities and other amenities. Additional information may be found on the company’s Web site at

Julie Tullbane
Daly Gray Public Relations
T 703-435-6293
F 703-435-6297

Alex Lombardo
(703) 573-9317
Jennifer Beranek
(608) 661-4754

Continued Investment in Tampa Bay Real Estate Market Culminates in New Yacht Club Unveiling on Coquina Key

Undeterred Developers Buck Market Trends. Ribbon-Cutting Ceremony to Take Place March 7

ST. PETERSBURG,FL– The owners of one of Florida’s largest-ever condo conversion began a historic redevelopment on Coquina Key at a time when the national economy was booming.

And while the Florida Association of Realtors reports that Florida condo sales have declined by 30 percent since Jan. 2007, the Waterside at Coquina Key development group, Prospect-Marathon Coquina Holdings, LLC, has remained committed to its St. Petersburg project, unlike many other developers who have either ended or stalled out on local condominium projects.

The FAR reports only 333 total condo sales last month throughout Tampa, St. Petersburg and Clearwater, down 12 percent from the 378 sold in Jan. 2007. And, while the median sales price in this market has slipped by 13 percent in the last year, Waterside condos continue to attract buyers seeking a waterfront lifestyle in a charming boating community that boasts completely upgraded amenities.

Now, with the completion of the Waterside Yacht Club, the original vision of Waterside at Coquina Key as a world-class boating community has been realized. To celebrate this milestone, a ribbon-cutting ceremony and grand opening reception will be held on March 7 at 4 p.m. for the new $2 million facility.

Beginning March 7, Waterside residents will enjoy membership at the private Waterside Yacht Club. The two-story, 8,000 square foot structure features terraces overlooking the bay with views of the Sunshine Skyway Bridge and downtown Tampa; private dining services with a waterfront bar; a heated swimming pool with a Jacuzzi and spacious clubhouse areas that can be used for events and entertaining guests.

“Despite the market, we know that there are still many prospective buyers today who continue to seek premier real estate opportunities and appreciate the tremendous value brought to Waterside by the inclusion of high-end amenities such as the new Waterside Yacht Club,” stated Greg Berger, principal of Robert Martin Company, which owns Waterside along with Prospect Capital Group and Marathon Real Estate.

“Waterside at Coquina Key is a testament to our continued investment and commitment to enhancing the St. Petersburg real estate market.” The Waterside CommunityWaterside at Coquina Key is made up of 912 condominiums that are split into two distinct villages on the north and south ends of the island, each with their own boat slips and clubhouses with health club facilities and full-sized pools.

Prices at Waterside start in the high $100,000s and go to the $600,000s for spacious three-bedrooms on scenic Tampa Bay
. In addition to the Yacht Club, Waterside amenities include two clubhouses; 301 boat slips tended by a dock master, dry dock facilities and easy boat access to Tampa Bay; resort-style pools and spas; fitness centers; lighted tennis courts; a private movie theater and an on-site market for light shopping. An 88-acre community, Waterside is a haven for bird watchers and is close to some of the Gulf’s most amazing wildlife and recreation areas.

For more information about Waterside, call (727) 894-2800 or visit . The Waterside sales center is located at 4810A Coquina Drive, St. Petersburg, Fla., 33705.

About The Developer:

Prospect-Marathon Coquina Holdings, LLCWaterside at Coquina Key, a project by Prospect-Marathon Coquina Holdings, LLC, is a joint venture between Prospect Capital Group and two other experienced and highly respected development organizations. Marathon Real Estate is the real estate private equity arm of Marathon Asset Management, LLC, which manages over $3.5 billion of capital through offices in New York, London and Hong Kong.

Marathon Real Estate is currently active in development and ownership of residential, office, industrial, parking and hotel properties in the United States, Canada and Europe.

Prospect Capital Group, a Connecticut based entrepreneurial investment firm that focuses on condominium conversion opportunities in the office, retail, and multi-family segments, has over $120 million committed to projects in Georgia and Florida.

Founded in 1957, Robert Martin Company LLC has a long, distinguished history in real estate. The company and its partners have developed and acquired over 20 million square feet of property and its holdings presently include over two million square feet of office space and hundreds of acres of developable land.

For more information on Robert Martin Company, LLC visit

Media Contact:
Chrisa Segalini
Beckerman PR

Regency Centers Management to Present at Citi Global Property CEO Conference

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Regency Centers Corporation (NYSE:REG) announced today that the company will participate in the Citi Global Property CEO Conference being held March 2nd through March 5th.

The Company's presentation is scheduled for 10:25 a.m. ET on Tuesday, March 4th, and may be accessed live via conference call by dialing (719) 234-7878 / passcode: 567994.
A copy of the presentation will be available on Regency Centers' web site at in the Investors & Media section, on the Webcasts and Presentations page.

Regency Centers Conference Call
Date: Tuesday, March 4, 2008
Time: 10:25 a.m. ET
Call: (719) 234-7878 / Passcode: 567994
Presenter: Martin E. Stein, Jr. (Hap) - Chairman & CEO (photo top left)
Regency Centers Corporation (NYSE:REG)

Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At December 31, 2007, the Company owned 451 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 59.2 million square feet located in top markets throughout the United States. Since 2000 Regency has developed 187 shopping centers, including those currently in-process, representing an investment at completion of nearly $3.0 billion. Operating as a fully integrated real estate company,

Regency is a qualified real estate investment trust that is self-administered and self-managed.

Lisa Palmer,

Cousins Announces New Retailers at Tiffany Springs MarketCenter

JCPenney, PetsMart among Latest Commitments at 585,000-SF Kansas City Project

ATLANTA--Feb. 29, 2008--Cousins Properties Incorporated (NYSE:CUZ) announced today a list of retailers and restaurants that have signed leases at Tiffany Springs MarketCenter, (photo top right) a 585,000-square-foot power center at the intersection of Interstate 29 and State Highway 152 in Kansas City, Missouri.

The project, Cousins' first in Kansas City, will eventually be home to more than 50 retailers and restaurants and is expected to open in the third quarter of 2008. The newly announced commitments at Tiffany Springs MarketCenter include JCPenney, Famous Footwear, Great Clips, Jason's Deli, Justice, Lifeway Christian Bookstore, PetsMart and ProfessioNail.

Previously announced retailers include Target, The Home Depot, Best Buy, Ulta and The Sports Authority. Tiffany Springs MarketCenter is 87 percent committed overall.

"These new commitments are big additions to the already impressive retailer list we've put together at Tiffany Springs," said Joel Murphy, president of Cousins' Retail Division. "This project should prove to be a great regional draw with strong anchors generating customer traffic from all around this growing area."

For moreinformation on the Company, please visit its Web site at

Cousins Properties Incorporated
Investment Community:
Elli Kaplan,
Vice President,

Media: Matt Gove,
Vice President,

Cogdell Spencer Inc. Acquires East Jefferson Medical Plaza in Metairie, LA

CHARLOTTE, N.C. /PRNewswire-FirstCall/ -- Cogdell Spencer Inc. (NYSE:CSA) has acquired East Jefferson Medical Plaza located in Metairie, Louisiana for approximately $19.8 million, inclusive of transaction costs.

East Jefferson Medical Plaza, (photo top right) a 123,184 square foot facility located on the campus of East Jefferson General Hospital, is 100 percent leased and physically attached to the hospital. As a tenant, the hospital currently leases approximately 86,000 square feet of space in East Jefferson Medical Plaza.

This acquisition expands Cogdell Spencer's existing relationship with East Jefferson General Hospital. Prior to this week's acquisition, Cogdell Spencer owned and managed 130,730 square feet of medical office and clinical assets on and adjacent to the East Jefferson campus.

"We appreciate the continued opportunity to help East Jefferson General Hospital achieve its strategic goals," said Matthew Nurkin, Vice President of Acquisitions for Cogdell Spencer Inc.

About Cogdell Spencer Inc.

Charlotte-based Cogdell Spencer Inc. (NYSE:CSA) is a fully-integrated, self-administered and self managed real estate investment trust (REIT) that invests in specialty office buildings for the medical profession, including medical offices, ambulatory surgery and diagnostic centers. At present, the Cogdell Spencer Inc. portfolio consists of 60 wholly owned properties and consolidated joint ventures, three unconsolidated joint venture properties and 53 managed medical office buildings.

For more information on Cogdell Spencer Inc., please visit the Company's website at

First Call Analyst: FCMN

Media, Dana Crothers,
Marketing Director,

General Inquiries,
Frank C. Spencer,
President and Chief Executive Officer,
Financial Inquiries,
Charles M. Handy,
Chief Financial Officer,
all of CogdellSpencer Inc.

Web site:

$10 Million Expansion & Renovation Adds Southern Charm and More Brand Name Outlet Stores to the Tanger in Gonzales, LA

GREENSBORO, N.C., PRNewswire-FirstCall/ -- In the wake of the devastation
caused by Hurricane Katrina in 2005, the City of Gonzales and the Baton Rouge, Louisiana area have undergone an unprecedented population and development growth.

The Tanger Outlet Center located on Interstate 10 in Gonzales is growing right along with the area. Since spring of 2007, Tanger has been in the throws of a $10 million center-wide expansion and renovation project.

With a late March 2008 completion expected, visitors to the Tanger center will already notice some big changes. A new 40,000 square foot expansion building is now home to an Ann Taylor Factory Store and a Bath & Body Works.

The new addition also includes a Nike Factory Store, a Skechers and current tenant Gap Outlet, which is relocating to a larger store.The center-wide renovation is transforming the shopping center with the addition of new architectural features including plantation-style columns and raised tower elements, dormers, awnings and balcony railings that give the appearance of a second floor.

A new color palette will help complete a design that reflects the area's historic southern plantation homes and New Orleans' famous French Quarter."We are excited to provide our shoppers in Gonzales with one of the South's premiere outlet shopping center attractions," stated Stanley K. Tanger, (photo top right) Chairman and CEO of Tanger Factory Outlet Centers, Inc.

"Bargain hunters will enjoy a collection of the most popular brand name outlet stores and a shopping atmosphere that perfectly captures the area's unique southern charm," Tanger added.

Built in 1993, the Tanger Outlet Center in Gonzales, Louisiana is one of the state's top tourism destinations. Last year, more than 4 million visitors shopped and saved direct from the manufacturer at Tanger. The Tanger Outlet Center in Gonzales is situated on Interstate 10 and Highway 30 between New Orleans and Baton Rouge. The center features more than 55 brand name outlet stores.

"This exciting renovation and expansion project taking place at the Tanger Outlet Center in Gonzales is part of an ongoing national program to ensure that Tanger Outlets continue to capture the imagination of our shoppers and remain the top shopping destinations in our markets," said Steven B. Tanger, president and COO of Tanger Factory Outlets Inc.

Tanger Factory Outlet Centers, Inc., (NYSE:SKT) is a publicly traded REIT, presently has ownership interests in or management responsibilities for 31 shopping centers in 22 states coast-to-coast, totaling approximately 9.1 million square feet, leased to over 2,000 stores that are operated by over 400 different store brands.

For more information call 800-4-TANGER or visit

Mike Buescher,
Tanger Factory Outlet Centers, Inc.,
Web site:

Jones Lang LaSalle's Economic Overview for 4Q 2007

WASHINGTON, DC--Jones Lang LaSalle Research Analyst Justine Morrison (photo top left) says fourth quarter 2007 growth was weaker than expected.

Morrison's findings show the U.S. economy showed signs of slowing in the fourth quarter as GDP grew by an anemic 0.6%. It appears that the effects of the credit crunch and turmoil in the financial markets have begun to have wide-spread reverberations across many industries. Though analysts had been predicting a sharp decline in GDP this quarter, actual GDP growth was just half of the 1.2% consensus. For the year, the U.S. economy grew by 2.2%, the lowest growth level in five years.

Consumer spending, which makes up about 70 percent of GDP, grew by 2.0% in the fourth quarter compared to 2.8% growth in the previous quarter. In light of the GDP results and various other indicators, the odds of recession are now 50-50, if not leaning slightly towards a contraction. While some analysts believe that we have already entered a recession, more optimistic prognosticators believe that the economy could skirt a recession but be faced with very slow growth at least through the first half of 2008.

Hiring Showing Signs of Softness

Employment growth slowed in the last half of 2007 and the U.S. unemployment rate crept up from the mid-four percent range to 4.9% in January. That said recent reports of outright declines in the U.S. labor market may be causing a premature panic. It will take a few more months of sub par results to definitely know whether this was the start of a contraction.

Though it does not appear that many companies have commenced layoffs, it is clear the pace of hiring slowed during the second half of 2007 with average monthly employment gains at half the level they had been in 2006. The consensus at this time is that the unemployment rate will continue to rise in the first half of 2008 and plateau somewhere near 5.5% depending on the state of the overall economy.

Weak Outlook for the First Half of 2008

It appears that the national economy is headed towards very slow growth at best and possibly a modest contraction during the first half of 2008. Government intervention should go a long way towards cushioning the effects of a sluggish economy over the first half of the year.

However, this will take time and a return to health may not come until the end of 2008 or early 2009. Historically speaking, corporate balance sheets and profits are in very good shape with the exception of companies in housing-related and financial services sectors. This coupled with the government’s recent, aggressive actions should go a long way to making a contraction, if it should come, a short-lived one.

For a more detailed report and other outlooks on the real estate industry, please contact:

John Sikaitis
Corporate Communications

Justine Morrison
Research Analyst

Sofitel Hotels Become First Hotel Chain In U.S. To Choose Wind Power and Become Epa Green Power Partner

Wind Energy Commitment is the Latest Sofitel Effort to Increase Energy Efficiency

DALLAS, TX-- Accor North America announced today a new agreement between its Sofitel Hotels and wind energy supplier Community Energy, Inc. to purchase clean, renewable, wind energy for all nine Sofitel locations in the U.S.

(Photo top right, Stephen L. Johnson, administrator, US Environmental Protection Agency)

This purchase of wind-generated power in the form of Renewable Energy Certificates (RECs) qualifies Sofitel Hotels as an EPA Green Power Partner, making them the first hotel chain to choose green power for each of the brand’s hotel locations in the country.

“We’re proud to step up as a leader in our industry and to do our part for the environment. Our customers recognize and value the commitment we’ve made to a safe and secure energy future. We hope others will follow our lead and make the choice as well,” said Robert Moore, senior vice president of Technical Services for Accor North America.

Sofitel has nine locations throughout the United States including two in Chicago and one in Los Angeles, Miami, Minneapolis, New York, Philadelphia, San Francisco and Washington D.C. These properties will buy a total of 1,527,000 kilowatt hours (kWhs) of renewable energy.

Compared to the average generation mix in the regional electric grid, the environmental benefit from this purchase is equal to offsetting approximately two million pounds of carbon dioxide per year, the impact of which is equivalent to planting more than 800 acres of trees each year or not driving 2.36 million miles. This level of commitment makes Sofitel the first hotel chain to become an EPA Green Power Partner.

"EPA applauds our corporate partners for protecting our environment by purchasing green power," said EPA Administrator Stephen L. Johnson (photo top right). "By voluntarily shifting to renewable energy, Accor North America is proving you don’t need to wait for a signal in order to go green."

Community Energy President Brent Alderfer stated, “Sofitel has stepped up as a leader in the hospitality industry. Their renewable energy purchase puts their energy dollars to work to benefit the environment and the nation. As more customers choose to follow their lead and purchase renewable energy, we can bring more clean power resources online to meet that demand.”

For more information, please visit

Laura Rojo-Eddy
United States -
Phone: +1(972) 360-5970

Accor North America
4001 International Parkway USA -
Carrollton, TX 75007
Phone: (972) 386 6161
Fax: (972) 702 5947

Holliday Fenoglio Fowler's Recently Closed Transactions

Thursday, February 28, 2008

Foreclosure Activity Increases 8% in January, According to RealtyTrac's U.s. Foreclosure Market Report

Foreclosure Activity Up 57 Percent From January 2007; Bank Repossessions (REOs) Up 90 Percent Year Over Year

IRVINE, CA– RealtyTrac® (, the leading online marketplace for foreclosure properties, has released its January 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sales notices and bank repossessions — were reported on 233,001 properties during the month, an increase of 8 percent from the previous month and an increase of nearly 57 percent from January 2007.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

“January’s foreclosure numbers demonstrate that foreclosure activity is continuing on its upward trend, substantially increasing from a year ago in many states,” said James J. Saccacio, (photo top left) chief executive officer of RealtyTrac. “However, the 8 percent monthly increase in January is not as precipitous as the 19 percent spike we saw in January of 2007, and several key states actually experienced decreasing foreclosure activity from the previous month.

" It could be that some of the efforts on the part of lenders and the government — both at the state and federal level — are beginning to take effect. The big question is whether those efforts are truly helping homeowners avoid foreclosure in the long term or if they are just temporarily forestalling the inevitable for many beleaguered borrowers.”

Nevada, California, Florida post top state foreclosure rates
Despite a month-over-month drop in foreclosure activity, Nevada continued to document the highest foreclosure rate among the 50 states. Foreclosure filings were reported on a total of 6,087 Nevada properties during the month, a 45 percent decrease from the previous month but still a 95 percent increase from January 2007.

California’s January foreclosure rate ranked second highest among the states, and Florida’s January foreclosure rate ranked third highest. Other states with foreclosure rates ranking among the top 10 were Arizona, Colorado, Massachusetts, Georgia, Connecticut, Ohio and Michigan.

California, Florida, Texas report highest foreclosure totals

Foreclosure filings were reported on a total of 57,158 properties in California in January, the most of any state. The state’s foreclosure activity was up 7 percent from the previous month and up 120 percent from January 2007.

Despite a 3 percent month-over-month decrease in foreclosure activity, Florida’s total of 30,178 properties with at least one foreclosure filing was the nation’s second highest state total. The state’s foreclosure activity was up nearly 158 percent from January 2007.

The nation’s third highest January total was in Texas, where foreclosure filings were reported on 14,698 properties — a nearly 20 percent increase from the previous month, but a slight decrease from January 2007. The state’s monthly foreclosure rate was below the national average and ranked No. 13 among the states.

Ohio, Michigan and Georgia all documented totals of more than 10,000 properties with foreclosure filings reported in January. Other states in the top 10 in terms of total properties with foreclosure filings reported were Arizona, Massachusetts, Illinois and Colorado.

California and Florida cities dominate top metro foreclosure rates
California and Florida metro areas accounted for eight of the top 10 metro foreclosure rates in January. The Cape Coral-Fort Myers, Fla., metro area documented the highest January foreclosure rate among the 229 metro areas tracked in the report. The other Florida metro area in the top 10 was Port St. Lucie-Fort Pierce, which ranked No. 10.

The Stockton, Calif., metro area documented the second highest metro foreclosure rate. Other California metro areas in the top 10 were Riverside-San Bernardino at No. 3, Modesto at No. 4, Merced at No. 5, Vallejo-Fairfield at No. 7 and Bakersfield at No. 9. Other cities in the top 10 were Las Vegas at No. 6 and Greeley, Colo., at No. 8.

Tammy Chan
Atomic PR

BOMA International’s 7-Point Challenge Gains Momentum

Commercial Real Estate Organizations Commit to Improving Energy Performance by 30% by 2012

WASHINGTON, DC--(BUSINESS WIRE)--The Building Owners and Managers Association (BOMA) International’s 7-Point Challenge, an innovative energy reduction plan to achieve market transformation in the commercial real estate industry, is gaining momentum as the leading companies and BOMA local associations around the country sign on to endorse the challenge.

Companies endorsing the challenge include Carr Services, CB Richard Ellis, Colonial Properties Trust, Cousins Properties, Cushman & Wakefield, Glenborough, Hines, LBA Realty, Opus, Parmenter Realty Group, PM Realty Group, Stream Realty Partners, Transwestern and USAA Real Estate Company

BOMA International introduced its Market Transformation Energy Plan, which includes the 7-Point Challenge, to its members in July 2007 as an aggressive but realistic strategy to reduce the use of natural resources, non-renewable energy sources and waste production in commercial buildings.

The goals of the plan include decreasing energy consumption by 30 percent across portfolios by 2012; benchmarking energy performance and water usage through the Environmental Protection Agency’s ENERGY STAR® benchmarking tool; and providing education to building owners and operators and others involved in building operations, to ensure that equipment is properly operated and maintained.

“We are very proud to see this important initiative gaining momentum in the industry,” said BOMA International Chairman and Chief Elected Officer Brenna S. Walraven, (photo top right) RPA, CPM, executive managing director, national property management, USAA Real Estate Company.
“Commercial real estate professionals understand that in addition to the tremendous financial value created by adopting and executing on the goals of the 7 Point Challenge, implementing ‘green’ management practices also results in a positive return for building occupants and for the environment."

Laura Horsley,
Director of Communications *****************************************************************************

Moncton Realtor to Head Provincial Real Estate Association

OTTAWA, Canada--CNW Telbec/ - A 38-year-old licensed real estate manager from Moncton has been elected the 2008-09 President of The New Brunswick Real Estate Association. The Association's Annual General Meeting was held February 20 in Saint John.

Dwayne Hayes (photo top left) has been a Realtor since 1999, and has served on several local and provincial committees for the real estate industry in New Brunswick over the past eight years. He also served as a Director of the Greater Moncton Real Estate Board for three years, and chaired the Board's MLS(R) & TechnologyCommittee and By-law Task Force.

"These are both exciting and challenging times for the more than 1,000 licensed salespersons in New Brunswick who provide real estate services across the province," says Dwayne Hayes. "The real estate market in New Brunswick remains active in virtually every region, which is a sign of the confidence that people have in the province. Our province is also one of the most affordable in Canada for people looking for their first home."

Hayes became a Director of the New Brunswick Real EstateAssociation in 2006, serving as Second Vice President. In 2007 he served as the Association's First Vice-President, and was then nominated for the position of President for 2008. During the past 6 years Dwayne has also been a member of the Committee of Examiners, and has served as Chair of the Committee in 2006 and 2007.

As co-owner of HomeLife Hayes Realty in Moncton, Dwayne enjoys a successful career in real estate. Dwayne is also actively involved in his community, helping out with fundraising events such as golf tournaments and auctions for Cystic Fibrosis and other causes. He also enjoys coaching with the Moncton Minor Hockey Association and playing guitar. Dwayne, who has adaughter and 3 sons, is married to Joan, also a licensed salesperson.

NBREA Executive Officer
(506) 440-2861

Davidson Hotel Company Promotes Six General Managers

MEMPHIS, TN—Davidson Hotel Company (DHC), one of the nation’s largest hotel management companies, today announced it has promoted six general managers to head up new properties in its rapidly expanding portfolio of managed hotels. All are being recognized for their strong performance at other DHC hotels.

“As we continue to grow at a rapid pace, it is necessary for us to continually increase and improve the bench strength of our management team,” said John Belden, (photo top right) Davidson’s president and chief executive officer. “We have signed 12 new management contracts within the past 18 months and needed to put into place qualified individuals who have the proven ability to help these properties reach their full potential.”

The new general managers and their properties include:

· Marisa Serrano, Hilton San Diego Gaslamp Quarter—Serrano has held a variety of management positions within the hospitality industry during her 20-year career, including general manager of the Marriott Country Club Plaza in Kansas City, Mo., and the Adam’s Mark Hotel in Colorado Springs, Colo. She was general manager of DHC’s Kansas City Marriott for the past three and a half years, where she vastly improved revenue per available room (RevPAR) and guest satisfaction scores prior to accepting the San Diego position. She received her Bachelor of Science in Business Administration from the University of Buenos Aires in Argentina.

· Michael Sanders, Hilton San Antonio Airport—A 15-year hospitality veteran, Sanders has been general manager at a number of properties, including the Wyndham Nashville and Marriott Plaza San Antonio. After taking a temporary hiatus from DHC to return to his home state of Texas, he was offered and accepted the San Antonio opportunity. He earned his Bachelor of Science in Hotel and Restaurant Management from the University of Houston’s Conrad Hilton College of Hotel and Restaurant Management.

· Mark Herron, Cleveland Embassy Suites—Herron most recently was general manager of the DHC-operated Pittsburgh Embassy Suites. Under his tenure there, the hotel enjoyed significantly increased guest satisfaction scores and currently is ranked eighth in Food & Beverage Customer Satisfaction within the Embassy Suites brand. With more than 25 years experience in the hospitality industry, Herron began his career as regional controller of Radisson Hotels for the Minneapolis office and has held a variety of increasingly important positions, including hotel manager for the Wyndham Anatole in Dallas, the Franklin Plaza in Philadelphia and general manager of the Hilton Little Rock Metro Center in Arkansas.

· Nanci Haley, Hilton Gainesville—Previously, Haley was general manager of DHC’s Embassy Suites Cleveland/Beachwood Hotel in Ohio, where she improved the hotel’s RevPAR from last to first place in its market. Her roles within the industry include director of guest services at the Wyndham Myrtle Beach, hotel manager of the Wyndham Chicago and general manager of the Wyndham Cleveland. She received her Bachelor of Science in Hospitality Management and her Masters Degree in International Business, both from Johnson & Wales University.

· Mansour Njie, Pittsburgh Embassy Suites—Njie was promoted to his new position after having been hotel manager of the Chicago Renaissance North Shore. He began his career with DHC in 2002 and previously held positions with Omni Hotels, Boykin and Starwood. Originally from Gambia, West Africa, he came to the United States in 1981 and received a bachelor’s degree from Oklahoma State University.

· Kelly Spinski, Marriott Kansas City Country Club Plaza—Spinski has spent the past 11 years at the Marriott Kansas City Country Club Plaza. While there, she has held a number of positions, including director of catering and food & beverage director, most recently culminating in hotel manager. A 25-yearhospitality veteran, Spinski has held a variety of industry positions, including catering manager at the Adams Mark Hotel in Kansas City and sales manager for a Dallas-based catering company. She is a certified Professional Catering Executive, Meeting Planner and Marriott Wedding Consultant.

About Davidson Hotel Company

Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, full-service hotel owner and third-party management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry.

The company currently owns and/or manages 30 upscale hotels with nearly 8,800 rooms across the United States, including such brands as Westin, Sheraton, Hyatt, Hilton, Hilton Garden Inn, Embassy Suites, Doubletree, Marriott, Renaissance, Crowne Plaza and Holiday Inn. Additional information on Davidson may be found at the company’s Web site,

Cyndi Carl
Davidson Hotel Company
(901) 821-4155

Jerry Daly, Chris Daly (media)
Daly Gray Public Relations
703 435 6293

Julie Tullbane
Daly Gray Public Relations
T 703-435-6293
F 703-435-6297

Cousins and Faison Announce New Retailers at The Avenue Murfreesboro

ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ) and Faison Enterprises announced seven new leases at The Avenue Murfreesboro, (photo top right) an 810,000-square-foot open-air retail center outside Nashville, Tenn.

The announced retailers include American Eagle Outfitters, Old Navy, Haverty's, Hollister, Massage Envy, Newk'sCafe Express and Jared Jewelers.
The Avenue Murfreesboro's 660,000-square-foot first phase is now 80 percent committed. Old Navyand Haverty's are the first retailers to commit to two under-construction expansions, totaling 19,000 square feet and 30,400 square feet respectively. The center will eventually become home tomore than 110 retailers and restaurants.

Cousins and Faison also announced that Linens 'N Things,Cost Plus World Market, Hollister and American Eagle Outfitters will open at The Avenue Murfreesboro in the second quarter of 2008. A full list of retailer commitments at the center can be found at

"Adding great retailers like these to our already impressive merchant roster speaks volumes about this center and community," saidDarryl Bonner, senior vice president of leasing for Cousins' Retail Division. "We look forward to more exciting commitments and openings as the year progresses."

"Both retailer and consumer interest in The Avenue Murfreesboro continues to impress our team. We've said from the beginning that this project fits well with the growth in Middle Tennessee and I think the current results bear that out," said Mike Cohn, senior managing director with Faison.

The Avenue Murfreesboro is the centerpiece of 400 acres of new commercial development envisioned by landowner C.M. "Bill" Gatton along Medical Center Parkway. Projects in the area are slated to include retail, office, hotel, convention center and public spaces. Medical Center Parkway connects the new Manson Pike interchange on I-24 with the City of Murfreesboro's Gateway project, plans for which include the new 300-bed Middle Tennessee Medical Center along with medical and professional offices.

Faison Enterprises, Inc.
Mike Cohn,
Senior Managing Director,


Cousins Properties Incorporated
Matt Gove,
Vice President,

HFF Closes Sale of The Shops at Preston Ridge in Frisco, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of The Shops at Preston Ridge, (photo top left) a 59,973-square-foot retail lifestyle center in Frisco, Texas.

Managing director Adam Howells and senior managing director Jim Batjer marketed the property on behalf of the seller, Oakridge Investments, a Dallas-based retail developer.
A German investment fund advised by Phoenix Property Company purchased The Shops at Preston Ridge for an undisclosed amount free and clear of debt.

Completed in 2007, The Shops at Preston Ridge is fully leased to tenants including Eurway, Brides by Demetrios, LaMadeleine, Mattress Giant and Paciugo. The property is situated on 6.4 acres at 8008 State Highway 121 in the far north Dallas suburb of Frisco.

“The Shops at Preston Ridge is located in the retail area known as ‘Frisco Bridges’, which has nearly four million square feet of retail space that draws an estimated 22 million visits per year and produces retail sales of approximately $1 billion annually,” said Howells. “In addition the property is shadow–anchored by Ikea, Rooms-to-Go and Ashley Furniture and is adjacent to the super regional mall, Stonebriar Centre.”

Laurie Fish McDowell
Associate Director HFF
One Post Office Square,
Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150

Adam T. Howells
HFF Managing Director
214 265 0880

Concord Hospitality Opens Residence Inn in Downtown Columbus, OH

$24 Million Renovation Transforms Landmark Bank Building into Extended Stay Hotel

COLUMBUS, OH/RALEIGH-DURHAM, NC —Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, has opened the 126-room Residence Inn Columbus Downtown (photo top right) in Columbus, Ohio, following a $24 million, 18-month renovation of a historic former bank building.

Concord, which acquired the 83-year-old building in 2005, also will manage the property. The Residence Inn Columbus Downtown marks the 10th addition to Concord’s hotel portfolio so far in 2008.

Located at 36 E. Gay Street, the renovated high-rise hotel with 40-foot, brass-plated ceilings and marble floors and columns, maintains the architectural integrity and classic revival style of the original structure, built as Buckeye Savings & Loan in 1925. Guests will enjoy a breakfast buffet served in what used to be the bank’s vault, in addition to the view of the marble-and-brass-trimmed lobby from the lounge located on the mezzanine level.

The 15-floor, extended-stay property features Residence Inn’s spacious suites with fully equipped kitchen, living and work area, luxury bedding and free high speed Internet. It also includes two meeting rooms with more than 1,000 square feet of meeting space and wireless Internet access throughout the hotel. Prior to the restoration, the building remained vacant for more than 10 years.

“This building is strategically located in downtown Columbus and represents a key opportunity to revitalize the downtown corridor and generate new revenue for the city,” said Haydn Kramer, Concord’s vice president of operations. “It’s also a familiar downtown landmark that has been a part of the city landscape for close to 85 years.

“This renovation has both financial and sentimental value, as it creates an important source of revenue and also revives a chapter of this city’s history. We expect this hotel to be something the city can brag about, and we also expect it to become the go-to place for Columbus residents for weddings, parties and big events.”

The hotel already has benefited from a strong Columbus market prior to opening. “By the time we officially opened, we had already booked $400,000 in business,” said Robert Kennedy, hotel general manager. “We also hosted a corporate event a few days before we opened. People are already starting to recognize us as part of the community, and we’re pleased about that. Our intention is to be a valuable asset for this city for a very long time.”

About Concord Hospitality

Concord Hospitality Enterprises Company, an award-winning hotel management and development company based in Raleigh-Durham, N.C., manages 49 hotels with over 6,000 guest rooms in 11 states and two Canadian provinces under such well-known brands as Renaissance, Marriott, Courtyard by Marriott, Residence Inn by Marriott, Fairfield Inn and Suites by Marriott, SpringHill Suites by Marriott, Hampton Inn and Suites, and an independent boutique hotel.

Formed in 1985, the company was recently listed as one of the top management companies in the nation. Concord properties are some of the most awarded hotels in the country, having won nearly 30 honors in the past two years alone.

For more information, visit
Media Contact:
Melanie Boyer,
Jerry Daly
(703) 435-6293

Orient-Express Hotels Reports Fourth Quarter and Full Year 2007 Results

HAMILTON, Bermuda, PRNewswire-FirstCall/--Orient-Express Hotels Ltd. (NYSE: OEH,,owners or part-owners and managers of 51 luxury hotels, restaurants, touristtrains and river cruise properties operating in 25 countries, has announced its results for the fourth quarter and full year ended December 31, 2007.

Fourth Quarter 2007 highlights

- Fourth quarter total revenues of $151.2 million, up 12% over prior year
- Fourth quarter net earnings from continuing operations of $10.2million, up 53% over prior year
- EPS from continuing operations of $0.24. Adjusted EPS of $0.25
- World-wide same store RevPAR up 10% in local currency, 14% in U.S.dollars
- Completed acquisition of land to develop a new '21' hotel in New York
- Completed takeover of Hotel das Cataratas, Iguacu Falls, Brazil (photo top right)

Full-Year highlights
- Full-year total revenues of $599.6 million, up 21% over prior year
- Full-year net earnings from continuing operations of $50.3 million, up37% over prior year
- EPS from continuing operations of $1.19. Adjusted EPS of $1.25
- Full-year EBITDA of $154.1 million up 13%, adjusted EBITDA up 19% overprior year
- World-wide same store RevPAR up 11% in local currency, 15% in U.S.dollars
- Accelerated acquisitions of The Royal Scotsman and Afloat in Francebusinesses in Europe
- Acquired land to build a hotel in Buzios, Brazil

"We are extremely pleased to see that the luxury market continues to show strength, as reflected in Orient-Express' year-end and fourth quarterresults," said Orient-Express Hotels President and CEO, Paul White. "We believe that there will continue to be numerous opportunities for growth through acquisitions of properties, as well as through strategic organic expansion into key geographic markets."

Pippa Isbell,
Vice President
Corporate Communications,
Tel: +44-20-7921-4065,

Kal Goldberg,
Financial Dynamics,
Tel: +1-212-850-5731

Lodgian Reports 2007 4Q and Full-Year 2007 Results

ATLANTA, PRNewswire-FirstCall-- Lodgian, Inc. (Amex: LGN), one of the nation's largest independent owners and operators of full-service hotels, today reported results for the fourth quarter and full year ended December 31, 2007.

The "44 Continuing Operations hotels" comprise all Lodgian properties except its held for sale portfolio (two hotels at December 31, 2007).

Fourth Quarter 2007 Highlights

-- Achieved a 4.3 percent improvement in revenue per available room (RevPAR), despite the displacement caused by three major renovations ongoing in the quarter.

-- Increased total revenue 4.3 percent, to $65.5 million.

-- Improved direct operating contribution (defined as total revenue less direct operating expenses) by 7.3 percent, resulting in a 180 basis point margin improvement to 63.1 percent. -- Increased Adjusted EBITDA (defined below) to $12.7 million, a 30 percent improvement. -- Improved Adjusted EBITDA margin to 19.4 percent.

Full Year 2007 Highlights

-- Increased room revenue by 5.3 percent and food and beverage revenue by 9.2 percent, a combined 6.2 percent increase in total revenues.

-- Improved direct operating contribution 7.3 percent to $176.8 million in 2007, resulting in a 70 basis point direct operating margin increase.

-- Achieved a 70 basis point increase in Adjusted EBITDA margin, with Adjusted EBITDA increasing to $53.6 million.

-- Made substantial progress on the conversion of the Holiday Inn Select DFW to a Wyndham hotel, and the conversion of the Doubletree Club Philadelphia hotel to a Four Points by Sheraton.

"Our continuing operations hotels had a very solid fourth quarter, with RevPAR up 4.3 percent compared to the 2006 fourth quarter," said Peter Cyrus, (photo top right) Lodgian interim president and chief executive officer.

"For the 2007 full year, RevPAR for the 40 continuing operations hotels open and not under renovation increased 6.8 percent, compared to the 2007 industry average of 5.7 percent, according to Smith Travel Research. The 10 hotels that completed major renovations in 2005 and 2006 reported a 9.2 percent RevPAR increase in 2007 and an impressive 4.4 percent improvement in their RevPAR index. We believe there is still substantial future growth in these hotels."

Debi Ethridge,
Vice President,
Finance & Investor Relations

Julie Tullbane
Daly Gray Public Relations
T 703-435-6293
F 703-435-6297

Thomas Wood & Co. Secures Financing of $2.25M for Boca Raton, FL Office/Retail Center

ORLANDO, FL—Jeff Schnupp, (photo top right) Vice President for Thomas D. Wood and Company, secured financing in the amount of $2,250,000 for Sandalfoot Plaza in Boca Raton, Florida.

Schnupp financed the loan through Skymar Capital, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed rate of 6%. The loan term is 10 years, with a 25-year amortization and a loan-to-value of 73%.

The 10,779 square-foot office/retail center was built in 2007, and is located at 9850 Marina Boulevard, Boca Raton, Florida.

For further information, please contact:

Jeff Schnupp
(407) 937-0470

Jessica Gurtowski
(407) 937-0470

Web site:

Thomas Wood & Co. Brokers $5.8M Loan for Miami Retail Center

MIAMI, FL—William Kaler, (photo top left) Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $5,800,000 for the Sunset & 97th Retail Center in Miami, Florida.

Kaler financed the loan through a national banking institution at a permanent fixed rate of 6.31%. The loan term is 10 years, with a 30-year amortization and a loan-to-value of 75%. The 46,322 square-foot retail center was built in 1985, and is located at 9700 SW 72nd Street, Miami, Florida.

Thomas D. Wood and Company is an independently owned, leading commercial mortgage banking firm in the southeast. Thomas D. Wood and Company has correspondent relationships with fourteen major life insurance companies, in addition to Wall Street. Thomas D. Wood and Company’s servicing portfolio is now approaching one billion dollars. This servicing portfolio consists of long-term mortgages on a variety of commercial properties located throughout the state of Florida.

These properties include: Retail, Industrial, Office, Senior Housing Communities, Self-storage, Apartments, Warehouses, Hotels and Mobile Home Parks. Thomas D. Wood and Company’s corporate office is located at 95 Merrick Way, Suite 360, Coral Gables, Florida 33134, with branch offices located at 1700 South MacDill Avenue, Suite 240 A, Tampa, Florida 33629, and 1215 Louisiana Avenue, Suite 100, Winter Park, Florida 32789. The website may be accessed through

For further information, please contact:
William Kaler
(305) 447-7820

Jessica Gurtowski
(407) 937-0470

Availability at 18 Tremont St., Boston, MA

BOSTON, MA--A classic office building with a striking entrance canopy and contemporary lobby, 18 Tremont Street delivers an unbeatable downtown office experience and is perfect for smaller companies.

Key features include:
203,033 square feet of professional office space in twelve stories
Floor plates that allow for a high glass to floor ratio and abundant natural light
Onsite amenities including a conference center, bike racks, locker rooms with showers, manned security during normal business hours and after-hours card access.
Online management resources and a corporate concierge are coming soon.

Availabilities include:
2nd floor - 2,645 s.f.
5th floor - 1,550 s.f.
6th floor - 6,110 s.f.
7th floor - 1,208 s.f.
8th floor - 7,091 s.f.

A classic yet contemporary property in an unbeatable location • Recent renovations • Ideal for smaller tenants • Owner operated by a knowledgeable and experienced team


Jones Lang LaSalle leasing agents:
Ben Heller
Patrick Nugent

Ownership contact:
George Haines
Vice President
BPG Properties, Ltd.

Management contact:
Elizabeth Christopher
Regional Portfolio Manager
BPG Management Company, L.P.

Wednesday, February 27, 2008

Cambridge Reports 26 Origination Requests in January

CHICAGO, IL--In a tight credit market, Cambridge Realty Capital Companies reports processing 26 loan origination requests totaling $538.4 million during the first month of the New Year.

The actual number of origination requests in January was down from 33 for the same month last year. But dollar volume was ahead of last January’s $512.5 million total, said Cambridge Chairman Jeffrey A. Davis. (photo top right)

“It’s hard to read too much into totals for a single month, but the pattern established last year appears to be holding. Origination requests are down but volume totals are holding their own,” he said.

In 2007, loan origination requests at Cambridge were down 20 percent but the total volume of these loans, $4.49 billion, was slightly ahead of the previous year.

Davis points out that lenders close a relatively small percentage of the loan origination requests they receive. But it’s useful to track this information as an indication of market directions, he believes.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nation’s leading senior housing and healthcare debt and equity capital providers, closing more than 300 such transactions totaling more than $2.75 billion since then.

The company is one of the nation's leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender / borrower relationship and identify “ideal” capital solutions for worthy projects. The company has created four separate processes for customer groups that are designed to build and enhance long-term relationship potential and speed the way loans are processed and closed.

Programs include The Key To Capital™ for senior housing owners, The Navigator Experience™ for senior housing brokers and mortgage bankers, The Principal Lender Network™ for lenders who refer loans to Cambridge, and The Relationship Building Experience™ for various industry-related consultants, including lawyers and accountants.

The company has a regional office in New York, affiliate office in Los Angeles, and correspondent relationships nationwide. The firm also has established key origination relationships and a dozen or more Internet-based strategies.

Cambridge’s award-winning Web site,, provides monthly rate updates for its debt and equity capital programs. The company also publishes the bi-monthly e-PULSE electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.

For additional information, contact Cambridge at (312) 357-1601 or via e-mail at

Evan Washington
Phone: (312) 521-7603
Fax: (312) 357-1611

Cambridge Provides $13.6M HUD 232 Insured Loan to Refinance Skokie Meadows Nursing Center

CHICAGO--A $13.6 million FHA-insured HUD loan has been provided by Cambridge Realty Capital Companies to refinance the Skokie Meadows Nursing Center, (photo top right) a combined 224-bed intermediate care and board and care facility in Skokie, Illinois.

Cambridge Chairman Jeffrey A. Davis said the property has 111 intermediate-care and 113 board and care units. The fully-amortized, 35-year term first mortgage was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, an FHA/MAP-approved HUD lender.

Davis said the borrower qualified for HUD's Section 223(a)7 funding program. The interest rate was not disclosed.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nation’s leading senior housing and healthcare debt and equity capital providers, closing more than 300 such transactions totaling more than $2.75 billion since then.

The company is one of the nation's leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

Cambridge’s award-winning Web site,, provides monthly rate updates for its debt and equity capital programs. The company also publishes the bi-monthly e-PULSE electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.

For additional information, contact Cambridge at (312) 357-1601 or via e-mail at

Evan Washington
Phone: (312) 521-7603
Fax: (312) 357-1611

Construction Pricing Softening from Economic Slowdown

WASHINGTON, DC--A slowdown in the global economy primarily caused by the sub-prime mortgage crisis has led to softening in construction pricing throughout the United States in the second half of 2007, according to Jones Lang LaSalle's fourth quarter 2007 National Construction Smart analysis. David Dempsey (photo top right) is JLL's managing director.

After realizing growth in excess of 6 percent from 2004 – 2006, construction costs slowed considerably in 2007. The price of raw materials experienced the largest increase in 2004,averaging 15 percent growth, only to moderate to approximately 6 percent in 2005 and 2006.

Through the second half of 2007 prices grew by a modest 1.9 percent, decelerating from thefirst half of year, which averaged 2.8 percent growth. The 2007 decrease in prices was largelydue to the depreciating housing market and weak US economy.

The price of lumber experienced the sharpest drop in pricing. During the peak of the housingmarket cycle in 2004, lumber costs grew by over 17 percent annually. Lumber prices beganfalling in 2005 and by January 2008, when housing starts were 28 percent lower than 2007,demand for lumber dropped sharply.

As a result, prices fell by over 7 percent throughout 2007, the largest drop since 1998. The downturn in the US economy has caused the market for construction materials to soften, but global demand for specific materials, such as iron and steel has kept upward pressure on overall construction costs.

Developing countries are continuing to grow despite a troubled US economy and the demand for Iron and steel continues to be driven by countries such as China, India and parts of Asia, Africa and South America. The weak US dollar has made US exports of steel even more affordable to the developing countries, causing supplies to dwindle and placing additional upward pressure on prices.

For complete details in National Construction Smart, please contact:

John Sikaitis
+1 202 719 5839
Dave Dempsey
+1 202 719 5646
Justine Morrison
+1 202 719 5793

Marcus & Millichap Facilitates Sale of Zaxby's Restaurant in Orange City, FL

ORANGE CITY, FL – Marcus & Millichap, the nation’s largest real estate investment services firm, has announced the sale of Zaxby’s, (photo top right) a 3,159 square foot net leased restaurant, according to Greg Matus, Regional Manager of the firm’s Orlando office.

The asset commanded a sales price of $1,665,900. Sales Agents Kevin Yaryan and Patrick Skinner had the exclusive listing to market the property on behalf of the seller, Ansby Properties, LLC, as well as securing the buyer, EBK ZOC, LLC and EBKT ZOC, LLC.

The property on 949 Saxon Boulevard in Orange City, FL, was built in 2004 and is conveniently located just off of I-4 between Orlando and Daytona Beach. Zaxby’s is a quick-serve restaurant specializing in chicken, based out of Athens, Georgia. With over 450 stores located in the Southeast, Zaxby’s is the third fastest growing franchise in its category.

Greg Matus
1 407 557 3800

HFF Closes Sale of Oak Park Office Center II in Houston

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Oak Park Office Center II, (photo top left) a 206,362-square-foot Class A office building in Houston, Texas.

HFF managing directors Robert Williamson and Jeff Hollinden and associate director Barbara Guffey led the investment sales team exclusively on behalf of the seller, Realty Associates Oak Park II, L.P., a development venture between TA Associates Realty and Myers, Crow & Saviers, Ltd. GE Real Estate purchased the property.

Completed in 2006, Oak Park Office Center II is fully leased to The Men’s Warehouse for its corporate headquarters. The property is situated on 18 acres at 6380 Rogerdale Road in the Oak Park Business Park close to the Westpark Tollway and Sam Houston Parkway in Houston.
“Oak Park Office Center II has a premier location within a deed restricted office park in Westchase, which is one of the most desirable office submarkets in suburban Houston,” said Williamson.

TA Associates Realty is a national real estate investment firm headquartered in Boston.
Myers, Crow & Saviers, Ltd is a real estate development and investment firm focusing on the development of office buildings in Houston, Dallas/Fort Worth and San Antonio.

Laurie Fish McDowell
Associate Director
HFF One Post Office Square, Suite 3500 Boston, MA 02109
tel 617.338.0990 fax 617.338.2150

Robert E. Williamson
HFF Managing Director
713 852 3500

Jeffrey A. Hollinden
HFF Managing Director
713 852 3500

Hotel Brokers International Announces 2007 Sales Achievement Award Winners

Eight Members and Six Member Firms Set New Records

KANSAS CITY, MO., February 27, 2008—Hotel Brokers International (HBI) at its recent annual meeting announced that dollar volume of hotel real estate sales across its membership organization had risen an impressive 18.5 percent in 2007, compared to 2006 dollar volume.

The organization concurrently announced that a total of 14 of its member sales associates and brokerage firms had achieved personal or collective best sales totals, earning them the organization’s Sales Achievement Awards during the current awards period.

H. Brandt Niehaus (left in photo) presents Salesperson of the Year award to Teague Hunter.

“Hotel real estate transactions were quite active at the individual property, portfolio and merger and acquisition levels,” said H. Brandt Niehaus, CHB, CHA, CCIM and president, Huff Niehaus & Associates, Inc. “This activity in 2007 was reflected in HBI sales, with six member firms setting new records for either sales volume or number of transactions. In total, the organization sold 140 properties valued at more than $640 million in dollar volume.

Niehaus said HBI expects hotel real estate transactions to continue at a brisk pace in 2008. “With the sub-prime mortgage crisis, an expected slowing of economic growth and hotel RevPAR, we expect to see an increasing number of properties changing hands. Because of a shifting economy, we also expect to see new buyers coming to the market as the real estate cycle progresses. Cap rates are liable to inch upward from the 7.5 percent to 10 percent range we saw in 2007. Financing requirements also have moved up, returning to more historic norms of 25 percent to 30 percent equity. Financing is still readily available, especially for experienced owner-operators.”

The organization’s top award, Salesperson of the Year, went to Teague Hunter, (top photo) CHB, executive vice president of Atlanta-based Hunter Realty Associates, for the second year in a row, for sales totaling nearly $70 million. Bob Hunter, president of Hunter Realty Associates, Inc. was named broker of the year, also for the second year in a row, for transactions totaling nearly $150 million.

Other 2007 winners include:

Record Dollar Volume, awarded to individuals and brokerages that achieved their personal highest dollar volume in 2007:

Individual Sales Associates
· Tim Duffy – MBA Hotel Brokers
· Lee Vasché, CHB –Western Hotel Brokers, Inc.
· Steven R. Ferrarini, CHB – ProCom Lodging Brokers, Inc.

Brokerage Firms
· Western Hotel Brokers, Inc.
· ProCom Lodging Brokers, Inc.
· Brash Realty Co., Inc.

· Record Number of Transactions, awarded to individuals and brokerages that achieved their personal highest number of transactions during the current awards period:

Brokerage Firms
· Scoggin Blue LLC
· Laurel Real Estate Company

· Record Number of Transactions and Dollar Volume, awarded to individuals and brokerages that achieved their personal best transaction and dollar volume combined during the current awards period:

· Diana Alt – Scoggin Blue LLC
· Chad Cooper –Westgor & Associates
· Lili Gewargis – Brash Reality Co., Inc.
· Teague Hunter, CHB – Hunter Realty Associates, Inc.
· Charlotte Seale – Donohoe Real Estate Services

Brokerage Firm
· Hunter Realty Associates, Inc.

Single Asset Sale of the Year is awarded to the primary listing and/or selling agent. Both winners received the award for the sale of the 156-room Seacrest Resort, Pismo Beach, Calif., which sold for $24,800,000.

· Fred F. Ferrarini, CHB – ProCom Lodging Brokers, Inc.
· Steve Ferrarini, CHB – ProCom Lodging Brokers, Inc.

Portfolio Sale of the Year, determined by total purchasing price and merits of the transaction, is awarded to the primary listing and/or selling agent:

· Teague Hunter, CHB – Hunter Realty Associates, Inc., for the sale of a portfolio consisting of 16 properties totaling 3,056 rooms and selling for $67 million.

Unique Deal of the Year, awarded based on the unique aspects of the transaction, the complexity of the deal and the challenges presented to the broker:

· Teague Hunter, CHB – Hunter Realty Associates, Inc., also for the sale of a 16-hotel portfolio consisting, totaling 3,056 rooms and selling for $67 million.

· New Associate of the Year, awarded to the associate who achieves the most outstanding sales record in their first year of membership:

· Kyle Stevenson — Hunter Realty Associates, Inc., for sales totaling nearly $55 million.

· Top Broker and Salesperson in Each Region, awarded based on sales volume and participation in HBI programs and activities.

Top Regional Brokers

New England/Mid-Atlantic Region
· Joe McCann, CHB – Optimum Hotel Brokerage

South Atlantic Region
· Charles Fritsch, CHB – MBA Hotel Brokers

North Central Region
· Scott Brash – Brash Realty Co., Inc.

South Central Region
· Alan Brock, CHB, Brock Hotel Group

Mountain/Pacific Region
· Fred F. Ferrarini, CHB – ProCom Lodging Brokers, Inc.

Top Regional Salespersons

South Atlantic Region
· Kyle Stevenson – Hunter Realty Associates, Inc.

North Central Region
· Lili Gewargis – Brash Realty Co., Inc.

South Central Region
· Darin Brock, CHB – Brock Hotel Group

Mountain/Pacific Region
· Steven R. Ferrarini, CHB – ProCom Lodging Brokers, Inc.
Melanie Boyer
Account Executive
Daly Gray Public Relations
(703) 435-6293

Glenda Webb
Hotel Brokers International
816 505 4315

Jay Porterfield Appointed Director in Arbor’s Dallas, TX Office

UNIONDALE, NY (February 27, 2008) - Arbor Commercial Mortgage announces the appointment of Jay Porterfield (photo top right) to Director in Arbor’s Dallas, TX office. Mr. Porterfield will originate Fannie Mae and FHA transactions throughout the Southwest. He reports to Ken Fazio, Vice President, Sales Management.

Prior to joining Arbor, Mr. Porterfield served as a Senior Vice President at Countrywide Commercial Real Estate. In this position, he managed the 50-person Plano, TX regional office with a territory that included Texas, Louisiana, Oklahoma, Colorado and Nebraska.

Before Countrywide, Mr. Porterfield was a Director for LaSalle Bank Real Estate Capital Markets (ABN AMRO), where he ran the Dallas office for LaSalle’s CMBS lending group. He originated $270,000,000 of fixed-and floating-rate loans, negotiated loan applications and documents with borrowers, brokers and attorneys. Additionally, he has held posts at General Electric Commercial Finance Real Estate and Archon Financial (A Goldman Sachs Company).

Mr. Porterfield earned both his Master of Science in Economics and a Bachelor of Business Administration in Accounting and Finance from Texas A&M University-Commerce. He resides in Murphy, TX.

Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services over $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.

Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust (REIT), formed to invest in real estate bridge and mezzanine loans, preferred equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, and has full-service lending offices throughout the United States.

Ingrid Principe
Marketing Specialist
Arbor Commercial Mortgage, LLC
333 Earle Ovington Boulevard, Suite 900
Uniondale, NY 11553

Phone: 516-506-4298
Fax: 516-542-2555

HFF Named to Market Sale of Dyer Crossing in Dyer, IN

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale Dyer Crossing, (photo top right) a 95,083-square-foot, grocery-anchored retail center located in southeastern suburban Chicago in Dyer, Indiana.

HFF managing director Paul Barile and director Janice Sellis will lead the investment sales team on behalf of a local seller. The property is being offered without a formal asking price and subject to the assumption of existing debt. In addition to the existing center, buyers will have the option to purchase an adjacent land parcel that can accommodate the development of additional retail space.

Completed in 2004, Dyer Crossing has 95,083 square feet of retail space plus two outlots improved with 10,600 square feet and parking for 990 cars. The property is 96% occupied by tenants including anchor Jewel-Osco (subsidiary of SuperValu) on a long-term lease through 2024 as well as national and credit tenants such as Chili’s, Starbucks, Sherwin Williams, Harris Bank and Blockbuster. Dyer Crossing is located at 801 – 907 US Highway 30 in the southeastern Chicago suburb of Dyer, Indiana.

“Dyer Crossing is a great investment due to its strong, long-term anchor tenant, national tenancy and outstanding demographics in the surrounding area, which include an average household income in excess of $80,000,” said Barile.

Laurie Fish McDowell
HFF Associate Director
One Post Office Square
Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150

Paul Barile
HFF Managing Director
312 528 3650