Thursday, May 8, 2008

S&P Makes Key Appointments--Ratings Risk Manager, Chief Credit Officer, Chief Quality Officer

NEW YORK, NY, May 8, 2008--Standard & Poor's today announced a number of key executive appointments in the areas of risk oversight, criteria management and quality assurance.

Clifford Griep has been named Executive Managing Director, Ratings Risk Management; Mark Adelson (photo at left below) is joining S&P as Managing Director, Chief Credit Officer; and Neri Bukspan (photo at right below) is becoming Managing Director, Chief Quality Officer. All three executives will report to Vickie Tillman,(top right photo) Executive Vice President, Standard & Poor's Ratings Services.

"These appointments add strength and depth to S&P's ratings leadership and capabilities, and demonstrate S&P's commitment to serving the broad and growing needs of the global credit markets," said Ms. Tillman.

In his new role, Mr. Griep will identify, assess and mitigate potential internal and external risk exposures in our ratings business. Previously, Mr. Griep served as S&P's Chief Credit and Quality Officer.

To further strengthen the independence of Quality and Criteria governance, the roles have been split into two separate functions, both reporting to Vickie Tillman.

Mr. Adelson joins S&P from Adelson & Jacob Consulting, a firm that provides strategic consultation on securitization, real estate and investments. Prior to that, he was managing director and head of Structured Finance Research at Nomura Securities International.
Previously, Mr. Adelson was managing director, Residential Mortgage Finance, for Moody's Investors Service. He began his career as an attorney for the law firm of Thacher Proffitt & Wood.

Mr. Bukspan became S&P's Chief Accountant in 2002.

Analyst Contact:
Chris Atkins, New York
(1) 212-438-1106

Marcus & Millichap Capital Corp. Arranges $2.37M Loan for Texas Retail Center

ROUND ROCK, TX– Marcus & Millichap Capital Corporation (MMCC) has arranged a $2.37 million fixed-rate loan for the acquisition of the Center at Cat Hollow, a 10,869-square foot retail center located at 16420 North FM 620.

Travis Fite, an associate in the firm’s Houston office, arranged the financing package for the Center at Cat Hollow.
A pad site was also included in the sale of the Center at Cat Hollow.
“MMCC was able to obtain 78 percent loan-to-cash on the cash-flowing portion of the property, excluding the pad site.”

Financing for the property was provided by a portfolio lender at a 5.66 percent interest rate. Terms of the loan were five years with a 30-year amortization schedule. The loan-to-value was 67 percent.

“MMCC brought in a new lender that was able to close this transaction within the seller’s timeframe, thus satisfying both parties,” Fite said.
(Photo at bottom right shows a residential property in Cat Hollow, TX for sale at a listed price of $1.189 million.)


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

Press Contact:

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

Pollack Partners’ First Project Nears Completion

ATLANTA, GA– Pollack Partners, a new multifamily development firm, is completing its first project. Two Blocks Apartment Homes, (rendering above) a $59 million suburban Atlanta apartment community, welcomes its first residents this month.

Pollack Partners developed the community in a joint venture with BHC Property Group. The mid-rise development includes 400 one and two bedroom luxury apartment homes on 10 acres in Dunwoody near the fast-growing Perimeter area.

Amenities include a pool, courtyards, elevators, state-of-the-art fitness center, business center, conference room, furnished guest suite, clubroom with TV lounge, media room with widescreen TV, coffee bar/cyber café and billiards room with bar.

The Web site,, lets visitors place furniture icons into interactive floorplans so they can see which works best. The Worthing Companies will lease and manage the community. The equity partner is Westplan Investors Inc.

This is just one of several communities Pollack Partners now has underway. Construction starts within a few weeks on a new $35 million luxury rental community in a prime in-town Atlanta location – I-85 and Shallowford Road. Groundbreaking is expected this summer on a $42 million luxury apartment community in Tampa.

Many more projects are also in the pipeline. Last year the firm entered into a partnership with an affiliate of Goldman Sachs to start a new real estate co-investment fund that, coupled with capital from other investors, will provide for some $1 billion in new developments and acquisitions across a wide geographic region.

Pollack Partners ( focuses on the development, acquisition, finance and investment of high quality, community-enhancing multifamily, residential and mixed-use real estate projects. Founded in 2006, it is committed to the highest standards in all facets of its business. Its leadership team has more than 50 years combined experience on real estate projects in a dozen states.

Media contact for Pollack Partners:

Terri Thornton

Greg Coxon Joins Grubb & Ellis Company as President, Transaction Services--Western Region

SANTA ANA, CA, May 8 /PRNewswire-FirstCall/ -- Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm, today announced that Greg Coxon (top right photo) has been named President, Transaction Services -- Western Region, a newly created position that expands the Company's management team and reinforces its commitment to strengthen its brokerage platform.

Based in Phoenix, Coxon will be responsible for overseeing the Company's offices west of the Mississippi. In addition, he will play an integral role as part of the Transaction Services management team, and in executing Grubb & Ellis' strategy to expand its brokerage footprint and the integrated services it provides its clients.

"Greg has a long and successful track record in the brokerage industry. His appointment as President of our Western Region significantly strengthens our management team and reinforces our commitment to expanding our Transaction Services platform," said Scott D. Peters, top left photo) Chief Executive Officer of Grubb & Ellis Company.

Coxon joins Grubb & Ellis from CB Richard Ellis, where he was Senior Managing Director in the company's Arizona region. He began his 20-year brokerage career at Grubb & Ellis in 1980 and has considerable experience in the leasing, disposition and acquisition of properties, property management and real estate tax equity assurance.

Janice McDill of Grubb & Ellis,

Terranova Signs Deals Valued Over $1.6M at Westfork Plaza in Pembroke Pines, FL

MIAMI BEACH, FL–– Terranova Corporation has negotiated three commercial leases at Westfork Plaza, (top right photo) a 252,154 square foot shopping center located at 15825 Pines Boulevard in Pembroke Pines, FL 33127.

A new Seafood/Italian Restaurant concept leased 3,214 square feet for 10 years. The restaurant is being developed by the Vilarino family, long term successful operator of the Las Vegas Cuban Restaurants. Executive Vice President Mindy McIlroy represented the landlord in the lease.

Play N Trade leased 1,496 square feet for 5 years. Play N Trade is the largest and fastest-growing video game franchise in the country. Their diverse product lineup includes new and used video games, accessories and consoles from leading manufacturers. This will be the second opening for the franchise in Broward County. Commercial Associate Eric Sadkin represented the landlord in the lease.

Performers Playhouse leased 2,187 square feet for 3 years. The performing arts studio will offer a variety of professionally instructed classes for all ages including dance, acting, musical theater and theater magic. Classes will remain small allowing for more individualized attention.

The playhouse will also offer weekday after-school transportation from school to the studio for students participating in the After-School Performer’s Workshop, a program designed to integrate music, movement and imagination. Sadkin represented the landlord in the lease.

Westfork Plaza is one of the largest power centers in the Pembroke Pines/Miramar market, located on the major retail corridor Pines Boulevard in Broward County.

The shopping center includes national tenants 13 screen Regal Theater, Winn Dixie, Costco, Office Max, GNC, Prudential Realty, Party City, State Farm Insurance, The UPS Store, Mattress Giant, Countrywide Loans, Hertz Rent A Car, Payless, Walgreens and KFC.

Arbor Closes $1.92M Fannie Mae Small Mortgage Loan for Townview Apartments in Zephyrhills, FL

UNIONDALE, NY, May 8, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,920,000 loan under the Fannie Mae Small Mortgage Loan product line to refinance the 46-unit complex known as Townview Apartments (above photo) in Zephyrhills, FL.

The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent. DUS and 3MaxExpress are registered marks of Fannie Mae.

The loan was originated by Ronen Abergel, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “The borrower was very pleased with the terms and pricing of the loan and looks forward to closing more deals with us in the future,” said Abergel.

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

Cambridge Provides $7.26M Loan to Refinance Community Nursaing and Rehab Center in Naperville, IL

CHICAGO, IL--Cambridge Realty Capital Companies has provided an insured $7.26 million first mortgage loan to refinance Community Nursing and Rehabilitation Center, a 153-bed skilled nursing home facility in Naperville, Illinois.

Cambridge Chairman Jeffrey A. Davis said the HUD Section 232 pursuant to Section 223(f) loan was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, an FHA/MAP-approved HUD lender. Interest rate for the 30-year, fully-amortized loan 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 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.


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

Cambridge Companies
(312) 357-1601

HFF Secures $80M Financing for North Bethesda, MD Class A Office Buildings

WASHINGTON, D.C.--The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $80 million in financing for Rockwall I and II, Class A office buildings (above photo) totaling 345,885 square feet in Bethesda, Maryland.

Working exclusively on behalf of The JBG Companies, HFF senior managing directors Bob Donhauser and Bill Asbill and director Cary Abod (top right photo) placed the five-year, fixed-rate loan with ING Real Estate for the acquisition of the properties.

Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development.
Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area.

Rockwall I and II are located at 11400 Rockville Pike and 5515 Security Lane across from the White Flint Mall (photo at left) and close to the Montgomery County Convention Center in North Bethesda. The properties are 89% leased with the largest tenant, the Food and Drug Administration, leasing 40% of the space.

“Tight conditions in Bethesda are increasing rental rates and driving additional demand in the North Bethesda submarket,” said Donhauser. “Rockwall I and II are ideally positioned on the Rockville Pike, a major Washington, D.C. thoroughfare, as well as being located close to a Metro station stop and adjacent to the North Bethesda Market, a to-be-built premier lifestyle center.”


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

Robert F. Donhauser
HFF Senior Managing Director
202 533 2500