Thursday, May 22, 2008

PKF Study Shows Unit-Level Hotel Profits Grew 7.2 Percent in 2007

Profit Growth Expected to Slow to 2.9 Percent in 2008

ATLANTA, GA– PKF Hospitality Research (PKF-HR) announces the average hotel in its 2008 edition of Trends in the Hotel Industry survey enjoyed a 7.2 percent gain in Net Operating Income (NOI) in 2007.

While this bottom-line improvement was more than twice the pace of inflation for the year, the single-digit gain was the lowest year-over-year increase since 2004 and is further evidence of a projected slowdown in hotel income that PKF is forecasting for the near future.

“Throughout 2007, hotel owners and operators were increasingly concerned about downtrending occupancy levels compared to 2006 and a slower pace of ADR growth, and their potential impact on 2007 profitability. Despite these concerns, year-end results indicated that the typical U.S. hotel was able to achieve gains in revenue and profits above their respective long-term averages,” said Mark Woodworth, (top right photo) president of PKF Hospitality Research.
“2008 may be a different story in view of the difficult economic outlook for the remainder of this year, and the dampening effect it will have on U.S. hotel revenue growth. Managers will be hard pressed to grow profits in 2008.”

According to Smith Travel Research, RevPAR was up just 1.9 percent through the first quarter of 2008 compared to the same period in 2007.

With poor prospects for summer travel, the second quarter 2008 Hotel Horizons report of PKF Hospitality Research is forecasting an annual increase in RevPAR of just 1.5 percent. This RevPAR forecast is the result of a projected 2.5 percent decline in occupancy, combined with a 4.0 percent increase in ADR.

(The complete Trends report is available at PKF's web site, Additionally, a complete copy of the PKF news release may be obtained from the contacts below)

Julie Tullbane, Daly Gray Public Relations, T 703 435 6293, F 703 435 6297,

Chris Daly or Jerry Daly (media), Daly Gray Public Relations, 620 Herndon Parkway, Suite 115, Herndon, VA 20170, T 703 435 6293

Mark Woodworth, President, PKF Hospitality Research, 3475 Lenox Road, Suite 720, Atlanta, GA 30326, T 404 842 1150, Ext. 222.

Thomas D. Wood & Co. Finds Financing for Coral Gables, Fl Retail Property

MIAMI, FL—May 22, 2008—Marshall Smith,(top right photo) Executive Vice President for Thomas D. Wood and Company, secured financing in the amount of $3,405,000 for Giralda Retail in Coral Gables, Florida.

Smith arranged financing in the amount of $3,405,000 for Giralda Retail in Coral Gables, Florida. Smith financed the loan through StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed rate of 6.25%.

The loan term is 10 years with a 25-year amortization, and a loan-to-value of 62%. The four retail buildings total 17,149 square-feet, and were built between 1941 and 1956.

For further information, please contact:
Marshall Smith, (305) 447-7820,
Jessica Gurtowski, (407) 937-0470,

Bradford Cox New VP at Thomas D. Wood & Co.

Lakewood Ranch, Florida—May 22, 2008—Thomas D. Wood and Company is pleased to announce their new Vice President, Bradford Cox. (top right photo)

Mr. Cox joined Thomas D. Wood and Company as Vice President and Manager of the Lakewood Ranch Office. Brad is responsible for the capital market needs of his clients including bridge, mezzanine, equity and debt placement.

With his intense knowledge and close relationships with key capital sources, he can customize your mortgage—from a fast track closing to a highly structured transaction—quickly, seamlessly, and transparently.

Prior to joining Thomas D. Wood and Company, Mr. Cox was a managing director for Churchill Capital Company, LLC, and a consultant for Morgan Stanley Mortgage Capital Holdings, LLC.
Prior to that, Brad was Vice President of commercial loan production for KeyBank Real Estate Capital, where he was responsible for structuring commercial loans through KeyBank’s CMBS, Fannie Mae, Freddie Mac, HUD, Life Company, and Mezzanine loan programs.

Mr. Cox has financed in excess of $1 billion in commercial real estate loans. He is a member of the Institute of Real Estate Management and the Commercial-Investment Real Estate Institute. Brad is a Certified Property Manager (CPM), Certified Commercial Investment Member (CCIM), a licensed Florida Real Estate Broker, and licensed Florida Mortgage Broker. He attended Seminole Community College and the University of Central Florida.

For further information, please contact:
Brad Cox (941) 907-8112
Jessica Gurtowski (407) 937-0470

Grubb & Ellis Realty Investors Acquires Walgreens Building in Chelsea, AL for Wealthy Management Client

SANTA ANA, CA /PRNewswire/ -- Grubb & Ellis Realty Investors, LLC has acquired a Walgreens building in the Birmingham-suburb of Chelsea, Ala., on behalf of a private investor participating in the Grubb & Ellis Wealth Management program.

Located at 16468 Block US Highway 280,(middle left map) the newly constructed Walgreens building offers approximately 14,800 square feet of rentable space, 70 parking spaces and a drive-thru pharmacy window.

Built on approximately 1.7 acres of land, the freestanding building lies at the northeast corner of US Highway 280 and Chesser Plantation Lane. The property is 100 percent leased to Walgreens Co., the nation's largest retail pharmacy chain.

"Through the Wealth Management program, Grubb & Ellis Realty Investors provides qualified investors with the benefits of real estate ownership without the day-to-day headaches of active management," said Grubb & Ellis Realty Investors President and Chief Investment Officer Jeff Hanson (top right photo).

"This acquisition is a superb example of the high quality assets we acquire and manage on behalf of clients. The area immediately surrounding the Walgreens building is dominated by various retail developments, as well as new residential developments that will offer multiple walking trails, lakes and parks."


Julia McCartney of Grubb & Ellis Realty Investors, LLC,+1-714-667-8252, ext. 230, julia.mccartney@grubb-ellis.comWeb site: