Sunday, April 20, 2008

Terranova Signs $1.3M Deal with Professional Bank in Coral Gables, FL

(Scenic Coral Way, a major thoroughfare in Coral Gables, FL)

MIAMI BEACH, FL--Terranova Corporation represented Professional Bank, a new locally owned community bank that will be headquartered in Coral Gables, Florida at the Plaza San Remo (photo at right) at 6705 Red Road. Plaza San Remo is a new seven-story, 180,000-square foot, mixed-use development that also includes medical-office condominiums and a 739 space structured parking garage.

Terranova Senior Commercial Associate, Gordon Messinger represented the Professional Bank in the 10 year, 2,750 square foot lease valued at nearly over $1,300,000.

Professional Bank a State chartered, FDIC approved bank will open in late summer according to Gary Moss, the Bank’s President. Moss went on to say that” Professional Bank will target professionals, business people and other high net worth individuals in the Pinecrest, South Miami, Coral Gables, Downtown Miami and other surrounding areas.”

Arbor Closes $4.1M in Fannie Mae DUS® 3MaxExpress® Loans for Stratford East and Stratford West in Wichita, KS

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two loans totaling $4,100,000 under the Fannie Mae DUS® 3MaxExpress® product line to refinance two properties totaling 182 units known as Stratford East and Stratford West (top photo) in Wichita, KS.

The two 10-year loans amortize on a 30-year schedule and carry a note rate of 5.85 percent. DUS and 3MaxExpress are registered marks of Fannie Mae

The loan was originated by Jay Porterfield, (top right photo) Director, in Arbor’s full-service Plano, TX lending office.

“Arbor provided a loan to refinance the existing debt in conjunction with a restructuring of the ownership entity,” said Porterfield. “We had a very short timeframe due to some contractual deadlines related to the restructuring. Arbor was able to lock the rate early in the process and meet the required closing deadline. The broker and the borrower were very pleased with the overall process and the outstanding work of the Arbor team.”


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

Cousins Properties Declares Second Quarter Preferred and Common Stock Dividends

ATLANTA--Cousins Properties Incorporated's board of directors (NYSE:CUZ) has declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable May 15, 2008, to Series A preferred stockholders of record on May 1, 2008.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable May 15, 2008, to Series B preferred stockholders of record onMay 1, 2008.

The Board of Directors has also declared a regular quarterly cash dividend of $0.37 per share, or $1.48 on an annualized basis, payable May 30, 2008, to common stockholders of record on May 16, 2008.

(Atlanta night skyline photo at right)


Cousins Properties Incorporated
Investment Community
Mark Russell,
Senior Vice President or


Matt Gove,
Vice President

Cousins Sells 167 Acres of Industrial Land in Atlanta

Sale Concurrent with Departure of Industrial Division President Forrest Robinson (top right photo) to Form New Development Company. Photo of Tom Bell, chairman and CEO of Cousins Properties, is at left)

ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ) is selling 167 acres of land at two Atlanta-area industrial parks to Weeks Robinson Properties, an Atlanta-based industrial development, management and leasing company, for approximately $18.5 million.

The transactions, which will close through next year, include one site totaling 44 acres at King Mill Distribution Park (photo at left) in Henry County, south of Atlanta, and three sites totaling 123 acres at Jefferson Mill Business Park, (photo at right below) northeast of Atlanta. Cousins will continue to own the existing buildings and remaining land at the parks.

The Company also announced the resignation of Forrest Robinson,(top right photo) president of Cousins' Industrial Division. Robinson is leaving the Company to partner with industrial development veteran Ray Weeks (photo at right) in the formation of Weeks Robinson.

Since 2004, Weeks has partnered with Cousins to develop industrial buildings in Atlanta. Bob Currie, senior vice president of leasing for the Industrial Division, is also leaving Cousins to join Weeks Robinson, which has been awarded the leasing assignment for the Cousins/Weeks-owned industrial buildings at each park, as well as marketing the two available retail sites at Jefferson Mill.(photo at right)

The Company will not replace Robinson or Currie, and its operating industrial properties will now be managed internally by the Office/Multi-Family Division. Cousins will continue to partner with Seefried Properties on two Dallas-area industrial projects.

WeeksRobinson will replace Cousins on the master development team for Fort Gillem, (photo at right below) a 1,427-acre military base in suburban Atlanta, but Cousins will continue to have a financial participation in that redevelopment.

"Forrest has been a great asset to Cousins during his four yearshere and his hiring of Bob was a key factor in the growth of our young industrial business. We will miss them both," said Tom Bell, (top left photo) chairman and CEO of Cousins Properties.

"Combined with their departure, thisland sale means Cousins is not pursuing new speculative industria ldevelopment opportunities in Atlanta, giving us more time and resources for office, retail, residential and mixed-use opportunities.Those have been our core businesses for decades, and we believe they can deliver the best returns for our shareholders."


Cousins Properties Incorporated
Investment Community:
Mark Russell,
Senior Vice President,


Matt Gove,
Vice President,

Marcus & Millichap Lists 75,660-SF Shopping Center in Baytown, TX

BAYTOWN, TX– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Riceland Pavilion I, (top photo) a 75,660-square foot shopping center in Baytown.

Jerry Goldstein, (top right photo) a vice president of investments in the Houston office of Marcus & Millichap, is representing the seller.

“Riceland Pavilion I is a high-profile shopping center in a rapidly expanding retail marketplace in Baytown, 30 miles east of the Houston Central Business District,” says Goldstein. “National chain store retailers have been flocking to Garth Road in Baytown because of the dynamics of its economy which is based on oil refining/petrochemicals and a fast-growing port,” adds Goldstein.

Located at 4615 Garth Road, the retail center is 100 percent leased and occupied and is situated on an 8.5-acre lot.

Surrounding retailers include Wal-Mart Supercenter, Target, Kroger, Home Depot, Lowe’s and Best Buy.

Riceland Pavilion I tenants include Office Depot, Old Navy, Lane Bryant, Famous Footwear, Radio Shack, ACE Cash, Blockbuster, Mattress Firm, Panchero’s, Papa John’s Pizza, Quizno’s and Washington Mutual.

Press Contact:

Stacey Corso
Communications Department
(925) 953-1716