Wednesday, April 30, 2008

Arbor Commercial Mortgage Joins Local Hempstead Children and Seniors to 'Spread the Green' on Arbor Day

Company Partners with Police Athletic League and Children for Children for Annual Celebration

Top Right Group Photo: (from left) Ingrid Principe, Marketing Specialist, Arbor Commercial Mortgage; Katrina Paleski, Manager of Partnerships and Events, Children for Children; George Sandas, Superintendent, Town of Hempstead Parks & Recreation; Various Students of PAL’s spring break week and local Senior Citizen; Jackie Jones-Ford, Director/Detective, PAL-Hempstead Chapter.

UNIONDALE, NY--Uniondale-based Arbor Commercial Mortgage joined dozens of enthusiastic students and seniors on Arbor Day (April 25) at the Kennedy Memorial Park in Hempstead to express the importance of protecting the environment.

The group came together through the efforts of the Police Athletic League (PAL) Hempstead Chapter, the Town of Hempstead Parks and Recreation, and Children for Children™ (CFC), a nonprofit group that teaches the importance of volunteerism.

Hempstead Town of Parks & Recreation Superintendent George Sandas (fourth from left in top right photo) joined the intergenerational group in planting a tree and flowers.

Arbor presented each participant with their own mini tree, a Colorado Blue Spruce seedling from the National Arbor Day Foundation (pictured right).


Ingrid Principe
Marketing Specialist
Arbor Commercial Mortgage, LLC 333 Earle Ovington Boulevard, Suite 900
Uniondale, NY 11553 '516-506-4298

Thomas D. Wood & Co. Secures Financing for Pompano Beach, FL Apartments

MIAMI, FL—April 30, 2008—Ivan Hagen,(top right photo) Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $1,250,000 for Seven Palms Apartments (map at left below) in Pompano Beach, Florida.

Hagen financed the loan through Thomas D. Wood and Company’s relationship with a national banking institution at a permanent fixed rate of 6.275%.

The term is 30 years with a 30-year amortization, and a loan-to-value of 50%. The 40-unit apartment complex was built in 1975, and is located at 8800 West Sample Road, Pompano Beach, Florida.

For further information, please contact:
Ivan Hagen (305) 447-7820 or

Jessica Gurtowski
(407) 937-0470

Fitch REIT Credit Analysis: Brandywine’s Diverse Portfolio Remains a Credit Positive

(Above photo shows Brandywine's Class A, 42-story, 1.3-million-sf City Place office building at 2711 N. Haskell Ave., Dallas, TX. Photo at right below is the 464,470-sf Walnut Glen Tower at 8144 Walnut Hill Lane, Dallas.)

NEW YORK, NY-- Although its debt service coverage and leverage metrics have moderated since the closing of the Prentiss Properties acquisition, Brandywine Realty Trust (Brandywine) maintains a geographically diverse portfolio of well-leased assets to support its borrowings, according to the latest credit analysis update by Fitch Ratings.

Fitch affirmed Brandywine’s IDR at ‘BBB-’ on April 7, 2008 and revised the REIT’s Rating Outlook to Stable from Positive.

Fitch's latest credit analysis update on Brandywine, which provides more detail supporting Fitch’s ratings, is available on the Fitch Ratings web site at ''.

Fitch currently rates Brandywine as follows:
Brandywine Realty Trust
--IDR ‘BBB-’.
Brandywine Operating Partnership, L.P.
--IDR ‘BBB-’.

Primary credit strengths include the following:

--Increased scale and geographic diversity following the Prentiss acquisition;
--Solid leasing profile;
--Manageable lease expiration schedule; --Sizable unencumbered asset pool.

(Photo at left is the 176,803-sf 11400 Burnet Road office building, Austin, TX)

Primary credit concerns include the following:
--Declining debt service coverage ratios;
--Focus on suburban locations with relatively low barriers to entry;
--Weak risk-adjusted capitalization;
--Limited leasing activity to date in most recent development projects.

(The 40-story, 1.02-million-sf Burnett Plaza, 801 Cherry St., Fort Worth, TX, is at right below)


Sandro Scenga
Director, Corporate Communications
Fitch Ratings

Janice Svec
+1-212-908-0304 or
Steven Marks
New York

Marcus & Millichap Capital Corp. Names Glenn Gioseffi Director in Seattle Office

SEATTLE, WA– Marcus & Millichap Capital Corporation (MMMC) has named Glenn Gioseffi (top right photo) a director in the firm’s Seattle office, according to William E. Hughes,(top left photo) senior vice president and managing director of MMCC.
Gioseffi is responsible for overseeing loan originations in the company’s Seattle office.

Prior to joining MMCC, Gioseffi was with BMC Capital.
Gioseffi is a graduate of the University of Rhode Island and holds a bachelor’s degree in zoology with a minor in math and chemistry. He is also a licensed real estate broker in the state of California. Gioseffi is an active member of the Commercial Realtors Association, Mortgage Bankers Association and the Rental Housing Association of Seattle.

Press Contact:
Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704

Fitch REIT Credit Analysis: Healthcare Realty Trust’s Medical Office and Outpatient Focus a Plus

(Healthcare Realty Trust's Baptist Women's Physician Office Building, Memphis, TN, shown above)

NEW YORK, NY--With fundamentals in the medical office andoutpatient space considered to be quite favorable, Healthcare Realty Trust Incorporated’s (HR) geographically diversified portfolio of assets, predominately focused on medical office and outpatient facilities, is a credit positive for the REIT, according to Fitch Ratings.

Fitch affirmed HR’s IDR at 'BBB' with a Stable Outlook on April 14. Fitch's latest credit analysis update on HR, which provides more detail supporting Fitch's ratings, is available on the Fitch Ratings web site at''. (Photo of Healthcare Realty's Baylor Pavilion I is at top right. Left middle photo shows Baylor Medical Office Building in Irving, TX)

Primary credit strengths include the following:

--Positive fundamentals for medical office/outpatient facilities;
--Large pool of unencumbered assets;
--Limited near term debt maturities.

Primary credit concerns include the following:
--Upcoming lease expiration schedule;
--Additional funding needs for development pipeline.

(Photo at bottom right shows Baptist Medical Plaza I and II in Nashville, TN)


Jane Cotroneo
+1-212-908-0716 or
Janice Svec
+1-212 908-0304

Media Relations:

Sandro Scenga
Director, Corporate Communications
Fitch Ratings
New York
Tel: +1 212-908-0278

BRE Properties Appoints Henry L. Hirvela as Chief Financial Officer

SAN FRANCISCO, CA /PRNewswire-FirstCall/ -- BRE Properties, Inc. (NYSE:BRE) has appointed Henry L. Hirvela (top left photo) executive vice president and chief financial officer, effective May 1, 2008.

Hirvela succeeds Edward F. Lange, Jr., (photo at left below) who was promoted to chief operating officer in 2007. Hirvela, 56, will be responsible for all corporate-related accounting, treasury and finance activities; investor relations; capital formation; internal audit and Sarbanes-Oxley compliance; and information technology services.

"We are pleased to welcome Henry Hirvela to BRE's executive team. Henry's experience and skill set are well-matched with our corporate objectives, specifically our ongoing efforts to create an enterprise-wide shared-services model," said BRE President and Chief Executive Officer Constance B. Moore (top right photo).

"In his past CFO positions, Henry successfully managed complex financial environments, leading integration efforts to centralize, automate and outsource core business processes. His abilities will complement the executive team and support our efforts to enhance company-wide efficiencies and productivity, and help scale the organization."

Hirvela has more than 30 years of experience in corporate finance and operations in the health care, waste management, energy and banking industries. Prior to BRE, he served as vice president, chief financial officer of VistaCare, Inc., a publicly owned health care services company.

He spent seven years as vice president, treasurer of Browning-Ferris Industries, Inc., which was acquired by Allied Waste Industries, Inc., for which he served as vice president, chief financial officer for four years.

He holds a bachelor's degree from the United States International University in San Diego, and earned an M.B.A. from the Johnson Graduate School of Management at Cornell University.

About BRE Properties

BRE Properties -- a real estate investment trust -- develops, acquires and manages apartment communities convenient to its residents' work, shopping, entertainment and transit in supply-constrained Western U.S. markets. BRE directly owns and operates 77 apartment communities totaling 21,808 units in California, Arizona and Washington. The company currently has 10 other properties in various stages of development and construction, totaling 3,125 units, and joint venture interests in 13 additional apartment communities, totaling 4,080 units. (Property data as of 12/31/07.)


Edward F. Lange, Jr.,
+1-415-445-6559, or

Thomas E. Mierzwinski,
+1-415-445-6525, both of BRE Properties, Inc.

Colliers Arnold Tampa Bay First Quarter Industrial & Flex Market Report Shows Overall Vacancy Rate of 6.2%

TAMPA, FL--Colliers Arnold Tampa Bay has issued its first quarter 2008 industrial and flex market report.

For a detailed copy of the four-page report, please contact Russ Sampson, Executive Vice President and Director of Brokerage Services (top right photo) or Karen Temmen, Research Director, at the phone, e-mail and address at the bottom of this release).

A quick re-cap summary shows the following information for the Tampa Bay Industrial & Flex Market:

Q1 2008 Overall Vacancy Rate: 6.2%
Q1 2008 Direct Vacancy Rate: 5.8%
Warehouse Average Direct Asking Rate: $5.82 p.s.f. NNN
Flex bldg. Average Direct Asking Rate: $10.10 p.s.f. NNN
Q1 2008 Indus. & Flex Under Construction: 1,824,106 s.f.
Q1 2008 Indus & Flex New Completions: 1,219,627 s.f.
Total Inventory of Indust & Flex space: 94,271,643 s.f.


Karen Temmen
Research Director
Colliers Arnold - Commercial Real Estate Services
311 Park Place Blvd., Suite 600
Clearwater, FL 33759
Phone: 727/442-7184

Fax: 727/449-2428

Marcus & Millichap Names Leslie Charapp Associate Director of Washington, D.C. Office

WASHINGTON, D.C.-– Marcus & Millichap Capital Corporation (MMMC) has named Leslie Charapp (top right photo) an associate director of the firm’s Washington, D.C. office, according to William E. Hughes,(top left photo) senior vice president and managing director of MMCC.

Charapp has more than 18 years of experience in the commercial real estate finance industry. Prior to joining MMCC, Charapp was a vice president of Countrywide Commercial Real Estate Finance in Washington, D.C. Before that, Charapp was a senior commercial term lending consultant with Washington Mutual in Washington, D.C.

During his tenure, he marketed and sold commercial property in the Washington Metro area, as well as originated loans for multi-family properties. Charapp holds a real estate license in the state of Maryland.


Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710