Friday, March 7, 2008

Survey Names CB Richard Ellis No. 1 Brand in Commercial Real Estate

CBRE Tops Lipsey Brand Survey for Seventh Consecutive Year

TAMPA, FL, March 7, 2008 - For the seventh year in a row, CB Richard Ellis has been named the leading global brand in commercial real estate, according to a survey of real estate professionals from around the world. CB Richard Ellis has been named the top brand every year since the survey's inception in 2002.

"Recognition from our respected clients and peers always carries a special significance. We are very appreciative of this acknowledgement for the seventh straight year. The top commercial real estate services brand in the world-that's an honor and responsibility we take very seriously every day," said Ray Sandelli, Senior Managing Director. (photo top left)

Conducted by The Lipsey Company, the survey measures how industry participants perceive commercial real estate brands. More than 20,000 professionals from REITs, institutions, lenders, commercial brokerages, and asset and property management firms participated in the survey. Responses came from U.S. and international real estate professionals.

"Being recognized once again as commercial real estate's top brand attests to the confidence that our clients place in us and the success of our people in delivering exceptional service on a daily basis," said Brett White, (photo top right) CB Richard Ellis' President and Chief Executive Officer. "Our 29,000 professionals are the CBRE brand. Their talent, combined with our unsurpassed global platform, has solidified our position as the industry leader, and built our reputation as the premier commercial real estate services company in the world."

The Lipsey Company provides training and professional development services to the commercial real estate industry.

About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, CB Richard Ellis was named one of the 50 "best in class" companies by BusinessWeek, and one of the 100 fastest growing companies by Fortune.

Please visit our Web site at
Lauren Crawford

Ray Sandelli

Legendary Auctioneer Addresses RE/MAX Representatives on Growth in Real Estate Auctions

AMARILLO, TX--(BUSINESS WIRE)--Hall of Fame Auctioneer Tom “Spanky” Assiter (top left photo) addressed an audience of RE/MAX real estate agents from across the country yesterday (March 6) in Las Vegas. One of the industry’s leading Auctioneers, “Spanky” presented a seminar titled “Explore the Auction Option” before conference attendees.

The 35th RE/MAX International Convention began on Monday, March 3 and concludes today at the MGM Grand. RE/MAX is one of the world’s largest real estate companies with 7,000 offices and 115,000 agents.

Founder of Assiter & Associates, “Spanky” is one of the world’s most sought-after Auctioneers. An International Auctioneer Champion (IAC) and National Auctioneers Association (NAA) Hall of Fame inductee, “Spanky” is an expert in the field of auctions, particularly real estate auctions.

In 2007, the NAA reported that the auction industry sold $270.7 billion in goods and services at auction. Real estate is the fastest growing segment of the auction industry with over $58.5 billion sold at auction in 2007. Residential real estate auctions continue to lead the industry, growing 46.6% between 2003-2007.

As more and more consumers turn to auctions to buy and sell real estate, traditional realtors are adding the auction method of marketing to their business practices. Despite a downturn in home sales, residential real estate auctions grew 5.3% in 2007.

In years past, Auctioneers and traditional real estate professionals have competed for business; however, in today’s housing market, real estate professionals are partnering with auction companies or expanding their business services to incorporate auctions as a viable option to buyers and sellers of real estate. Auctions expedite the process of selling real estate, minimize holding costs and sell the real and personal property at its market value.

About “Spanky” Assiter
In addition to successful career selling real estate at auction, “Spanky” has extensive auction experience in a variety of fields. Auto enthusiasts around the world tune in to Speed TV every year to see “Spanky” in action at the Barrett Jackson Classic Car Auction. His auction experience includes heavy equipment and livestock as well. “Spanky” is currently one of the top Auctioneers for the Keeneland Thoroughbred Racing Association which is the world’s largest thoroughbred horse auctions. “Spanky” is a member of the National Auctioneers Association and the National Association of REALTORS®.

About Assiter & Associates, LLC (
Founded in 1983, Assiter & Associates is an international auction company based in Amarillo, Texas. Specializing in auto, real estate, heavy equipment and livestock auctions, Assiter & Associates has conducted over 5,000 auctions generating over $3 billion in assets sold at auction.

Assiter & Associates, LLC
Spanky Assiter,

Meridian Capital Group Arranges Financing for Multifamily Building in Miami

MIAMI, FL - Meridian Capital Group has arranged a loan in the amount of $1,220,000 for the refinance of The Shutters, a 23 unit building located at 1425 NE 125 Terrace.

Sean P. Miller of Meridian’s Florida office negotiated to secure a rate of 6.25% over a 5-year term. The borrower, Mr. Alfred Morana, plans on refurbishing the property over the next several months with new paint and landscaping.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.


Dani Sabesan
(212) 612-0109
Meridian Capital Group, LLC
1 Battery Park Plaza
New York, NY 10004

Meridian Capital Group Arranges Financing for Multifamily Building in Pompano Beach, FL

Pompano Beach, FL - Meridian Capital Group recently arranged a loan in the amount of $1,100,000 for the refinance of an 18 unit building located at 3321 NE 1st Avenue. Michael Brown and Chaim Lanner of Meridian’s Florida office negotiated to secure a rate of 5.950% over a 7-year term.
Dani Sabesan:
(212) 612-0109
Meridian Capital Group, LLC
1 Battery Park Plaza
New York, NY 10004

Marcus & Millichap Sells Travelodge Inn & Suites for $6.28M

TAMPA, FL, March 7, 2008--The sale of Travelodge Inn & Suites (photo top right) was announced today by Steven M. Ekovich, First Vice President and Regional Manager for the Jacksonville, Florida office of Marcus & Millichap Real Estate Investment Services.

The property sold for $6,280,000 to Dr. Kenneth Choi, a private investor based out of Los Angeles, California. Mr. Nilesh Patel, the seller, has owned the property since 2005. David Hsieh and Mark Prideaux of Marcus & Millichap’s Jacksonville office represented the Sellers in this transaction.

Benefiting from the growth in Jacksonville, its airport location and the anticipated demand to be generated by the shipping port a few minutes away, this hotel investment gave its prior owners a positive return for their money and is expected to generate very strong cash flow and equity growth for its new owner.

“This hotel was a diamond in the rough, which simply needed its four “C’s” so to speak, exposed to our client base”, stated Mark Prideaux, lead broker on this sale. The result was a 1031 related sale at 97% of asking price.

The Travelodge Inn & Suites has 192 rooms and has recently undergone over $1 million in capital improvements and benefits. The property is situated only one half-mile from the rapidly expanding Jacksonville International Airport.

With more than 60 offices nationwide, more than 1,300 investment professionals nationwide and sales in excess of $20.5 billion last year, Encino, California-based Marcus & Millichap is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. Since its inception in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.

Steven M. Ekovich
Marcus & Millichap
813 387 4700 or

Sue Sampson
Brokerage Administrator/CAST
Marcus & Millichap
7650 Courtney Campbell Causeway
Suite 920
Tampa, FL. 33607
Phone: (813) 387-4700
Fax: (813) 387-4710

Marcus & Millichap Facilitates Sale of Two Hialeah Apartment Buildings

Hialeah, Fla, March 6, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment brokerage firm, has announced the sale of two Hialeah apartment buildings, according to Gene A. Berman, Managing Director of the firm’s Fort Lauderdale office.

Nina’s Apartments, (photo top left) a 36-unit apartment complex located at 1288 W 29th Street, demanded a sales price of $3,153,000.00. Built in 1968 with concrete block construction, the building features an excellent mix of one and two bedroom units.

Queens Apartments, (photo at right) a 34-unit apartment complex located at 1271 W 29th Street, demanded a sales price of $2,978,000.00. Built in 1971, the property has a total of 60 marked parking spaces, which is a rare commodity in the Hialeah market.

Evan Kristol, Senior Vice President Investments and Still Hunter, III, First Vice President Investments in Marcus & Millichap’s Fort Lauderdale office represented the seller of the properties, Samuel and Nina Levy. The listings agents and an outside broker represented the buyer of the properties, L & D Investors, Inc.

“Over the past decade Hialeah has seen its inventory of rental apartments greatly reduce due to condo conversions. In this same time period, no new market rate properties have been built and there is no land available on which to build new inventory. Therefore, the buyer will benefit from an immediate opportunity to increase rents,” says Kristol.

Ashley Steele
Marketing Coordinator
Marcus & Millichap
5900 N. Andrews Avenue, Suite 100
Fort Lauderdale, FL 33309
Direct Tel: (954) 245-3516
Cell: (215) 828-9585
Fax: (954) 245-3410

First International-Style Shopping Mall in Montenegro to Open This Summer

PODGORICA, Montenegro, Mar. 7, 2008-- The first international-style shopping mall in Montenegro, Delta City in Podgorica, is set to open this summer.

Colliers International is the exclusive leasing agent, previously responsible for the resounding success of the leasing of Delta City in Belgrade, which featured a host of big international retailers. Delta City will have a GLA of 24,000 m². Located three kilometers from the center of Podgorica, its primary catchment area – the entire city of Podgorica – will be nearly 200,000 people.

Its secondary catchment area, the center and south of the country, raises that figure to nearly 450,000 people, or nearly two thirds of the country.The development will include a cineplex and a supermarket as anchor tenants, and there will also be entertainment facilities and a food court.
Delta Real Estate is the leading shopping mall developer in Serbia and the region. Currently, Delta Real Estate is undertaking work on another ground-breaking mall in Belgrade, Delta Planet, and has significant regional plans for expansion. Miodrag Gazibara, Key Accounts Manager at Colliers International Serbia, is responsible for bringing some of the big name international retailers to Montenegro.

He said, “We think that the people of Podgorica are going to be very excited by the quality of the retailers that we are bringing to town! This mall is going to transform shopping in Montenegro!” Jovica Jakovac, Managing Director of Colliers International Serbia, said, “We are extremely proud to have worked with Delta Real Estate on both Delta City in Podgorica and Delta City in Belgrade. We are both the clear market leaders in our fields, and together we are able to deliver a great product to the marketplace!”

Andreas Marambos, Managing Director, Colliers International Montenegro, concluded, “We are very proud to be bringing a landmark project like this to the people of Montenegro and we look forward to delivering more outstanding developments here.”

Colliers International Southeast Europe was named Property Consultant of the Year for the region in 2007 for the second straight year. It has nine offices in six countries: Albania, Bulgaria, Croatia, Greece, Montenegro and Serbia, and performs selected assignments in Slovenia, Bosnia & Herzegovina, FYR of Macedonia, and Cyprus.

Colliers International Southeast Europe currently has 2,500,000 m2 of projects under exclusive representation. It is bigger than all four of its nearest competitors put together, and has averaged growth of 69% in the last five years per annum. Colliers International is a global affiliation of independently owned and operated companies.

CONTACT: Colliers Kontakt-Person: Christen Thomson Director, PR Phone: E-mail: e-mail Web:

Author: Christen Thomsone-mail Web:
Telefon: +385992187603