Monday, April 7, 2008

Absorption of Excess Office Space in Metro DC Will Depend Largely on Who is Elected to the White House, Says Jones Lang LaSalle



(Photos from left, Sen. John McCain, Sen. Barack Obama, Sen. Hillary Clinton)

(The first quarter Metro DC MarketSmart statistics, prepared by the Jones Lang LaSalle Mid-Atlantic Research Group, finds that absorption of excess office space in metro DC, Northern Virginia and suburban Maryland will largely depend on who is elected to the White House in November. See explanation below.) (Photo of Capitol Building at right)


WASHINGTON, DC--Uncertainties regarding the recovery of the national economy and specifically, the housing, construction and financial sectors, will dampen overall office market fundamentals both nationally and regionally in 2008, according to Metro DC first quarter 2008 MarketSmart statistics prepared by the Jones Lang LaSalle Mid-Atlantic Research Group.

However, regionally, the lack of federal spending growth and excessive new supply delivering to the market, will be the true catalysts that lead to a continued overall softening of demand and increase in space options over the coming quarters.

While occupancy growth will remain muted for 2008, vacancy levels were expected to soar upwards throughout all three jurisdictions due to the quantity of new supply hitting the market over the next 24 months. Northern Virginia vacancy levels will peak at the end of 2008, while Suburban Maryland and Washington, DC vacancy levels will peak in the first half of 2009 and the first quarter of 2010, respectively.

How soon the excess space is absorbed in each jurisdiction over the coming years will largely depend on whether Senator McCain, Obama or Clinton is elected to the White House.

A McCain White House would yield continued record levels of defense and benefit Northern Virginia, while a Clinton or Obama White House, would yield continued increases in intelligence, security and defense, but at slower levels, leading to gains in life science budgets, which benefit Suburban Maryland, and general government agency budgets, benefiting the District.
For more detailed information on the metro DC, regional and national markets, please contact:

John Sikaitis
202.719.5839
The Jones Lang LaSalle Mid-Atlantic Research Group

LoopNet's Showcase Property Listings Available on Google, Yahoo and 100+ Major Newspaper Websites

SAN FRANCISCO, CA April 7, 2008 /PRNewswire-FirstCall/ -- LoopNet, Inc. (NASDAQ:LOOP), which operates the largest online commercial real estate marketplace, announced today that Showcase Property Listings within the LoopNet.com marketplace now receive expanded exposure on major search engines including Google, Yahoo and others, as well as Google's Google Base service, and more than 100 online newspaper websites.

They include The New York Times, Los Angeles Times, Washington Post, Boston Globe, Chicago Tribune, Dallas Morning News, Miami Herald, Atlanta Journal-Constitution, the American City Business Journals Online and The Wall Street Journal (for sale properties only).



LoopNet's Showcase Property Listings also receive top of search placement on LoopNet.com, the most heavily trafficked commercial real estate marketplace with 998,000 unique visitors monthly according to comScore Media Metrix."LoopNet's Showcase Property Listings now receive exclusive distribution to an even broader, more powerful collection of online newspaper and business publication websites," said Mike Manning, LoopNet's Vice President of Marketing.

"By combining the national reach of LoopNet.com -- the most heavily trafficked commercial real estate marketplace by a factor of 4 to 5 times -- with the local presence of our exclusive network of online newspaper websites, LoopNet's Showcase Listings receive unparalleled exposure."


For more information on Showcase Property Listings or to view a more complete list of our distribution partners, visit http://www.loopnet.com/PartnerNetwork.


LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, Cushman & Wakefield, First Industrial Realty Trust, Grubb & Ellis, Lincoln Property Company, Marcus & Millichap, NAI Global, ONCOR International, Prudential, RE/MAX, Sperry Van Ness, The Staubach Company and TCN Worldwide.


LoopNet owns and operates Cityfeet.com, the largest online newspaper network serving the commercial real estate industry.


LoopNet also owns and operates BizBuySell.com, the largest and most heavily trafficked online exchange for businesses for sale in North America, with more business listings, users and search activity than any other website. BizBuySell also has the largest database of sale comparables for recently sold businesses.


CONTACT:
Cary Brazeman,
+1-310-205-3590,
pr@LoopNet.com, for LoopNet,Inc.

Arbor Closes $28.12M Fannie Mae DUS® Loan for The Exchange at Greenville in Greenville, NC


UNIONDALE, NY, April 7, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $28,120,000 loan under the Fannie Mae DUS® product line to finance the acquisition of the 288-unit student housing complex known as The Exchange at Greenville (photo above) in Greenville, NC.

The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.47 percent. * DUS and 3MaxExpress are registered marks of Fannie.

The loan was originated by John Edwards, ( photo at right) Director, in Arbor’s full-service Boston, MA lending office. “We closed this loan concurrent with the Campus Pointe and Manor Apartments and were able to meet the client’s acquisition deadline,” said Edwards.

“The combined financing was completed in less than 30 days and demonstrates Arbor’s tremendous team effort to accomplish this financing despite monumental year-end challenges. We sincerely appreciate the client’s trust in our ability to deliver as promised and look forward to continuing this business relationship.” (Photo of The Exchange's lobby at left)

Arbor Commercial Funding, LLC, 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 approximately $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-related 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.

CONTACT:

Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298

Arbor Closes $15M Arbor 85 Loan on Water Street Apartments in New York, NY

UNIONDALE, NY, April 7, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $15,000,000 loan under the Arbor 85 product line to acquire the 27-unit complex known as Water Street Apartments (above photo) in New York, NY.

The loan was originated by Stephen York, Director, in Arbor’s full-service Uniondale, NY lending office. “Arbor was able to successfully finance this transaction by combining Fannie Mae’s DUS® program with Arbor’s own mezzanine funds,” said York. “This transaction highlights Arbor’s unique ability to offer creative financing solutions for first-time borrowers.”

Arbor Commercial Funding, LLC, 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 approximately $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-related 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.

* DUS and 3MaxExpress are registered marks of Fannie Mae

CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298

Arbor Closes $18,025,000 Fannie Mae DUS® MBS Loan for Campus Pointe and Campus Manor in Macomb, IL

UNIONDALE, NY, April 7, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $18,025,000 loan under the Fannie Mae DUS® MBS program to finance the acquisition of two student housing properties totaling 361 units known as Campus Pointe and Campus Manor (photo above) in Macomb, IL.

The five-year loan amortizes on a 30-year schedule and carries a note rate of 5.46 percent. * DUS and 3MaxExpress are registered marks of Fannie Mae.

The loan was originated by John Edwards, (photo at right) Director, in Arbor’s full-service Boston, MA lending office.

“This financing reflects an outstanding Arbor team effort to achieve the client’s timing expectations,” said Edwards. “We were able to close this loan as promised within 30 days to facilitate an acquisition. We look
forward to continuing our business relationship with this important client.”

Arbor Commercial Funding, LLC, 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
broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $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-related 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.

CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298

Realty Asset Advisors, LLC Facilitates Sale of Felicia Villas in Tampa, FL

TAMPA, FL April 7, 2008 – Realty Asset Advisors has announced the sale of Felicia Villas (top left photo below) in Tampa, Florida for $650,000.00. The sales price represents $30,952.00 per unit and $56.38 per square foot.

Realty Asset Advisors’ investment advisor Tom Doyle (top right photo) represented the Seller in the transaction.

Mr. Doyle also secured the Buyer through a competitive marketing process. The Seller was Felicia Minardi, who is based in Southern California. The Buyer was North Grady Apartments, LLC, a Florida corporation.
"Felicia Villas benefits from a great Central/South Tampa location near major transportation routes and area shopping," comments Doyle, a Multifamily Specialist and Investment Advisor for Realty Asset Advisors. "With below market rents, this asset also offers an excellent value-added opportunity for the Purchaser."

Built in 1972, Felicia Villas is a 21 unit, well-maintained apartment community centrally located in the Drew Park area of Hillsborough County, Tampa, Florida. Comprised of one 2 story building with solid block construction and situated on one acre, the property features a central courtyard, laundry facility, and plenty of parking.

The property is centrally located near local parks and recreational activities including Raymond James Stadium - home of the NFL’s Tampa Bay Buccaneers and Legends Field, where the Yankees conduct Spring Training.

Realty Asset Advisors, located in Tampa, is a real estate investment brokerage company with a primary focus on the multifamily and retail (shopping center) markets of Tampa Bay and Central Florida. The firm provides a range of advisory services including Seller representation, marketing, transactional support, research services and property performance evaluations.

CONTACT:
Timothy Johnson
Managing Partner
Realty Asset Advisors LLC
1311 N. Westshore Blvd., Suite 201,
Tampa, FL 33607

Marcus & Millichap Sells Healthsouth Building in Sarasota, FL for $1.635M


TAMPA, FL--The sale of the Healthsouth Building (photo at left below)) was announced by Steven M. Ekovich, First Vice President and Regional Manager for the Tampa, Florida office of Marcus & Millichap Real Estate Investment Services.

The property sold for $1,635,000 to Mr. William Fitzgerald, III, of Humphrey Realty Corp., an investor based out of Marshfield, Massachusetts. The seller, Mr. Tai Ly, has owned the property since 2000. Jeffrey Spilman (top right photo) of Marcus & Millichap’s Tampa office represented the seller in the transaction.


“This is a single-tenant building that is leased to Healthsouth Rehabilitation. Healthsouth has relocated to a new facility nearby and they are trying to buy out the lease” stated Jeff Spilman.
Healthsouth Building is a 9,000 square foot professional medical building located at 7147 Curtiss Avenue in Sarasota, Florida,

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