Tuesday, June 3, 2008

Wyndham Worldwide 'BBB' Rating Put On Watch Negative

NEW YORK June 3, 2008--Standard & Poor's Ratings Services today placed its ratings for Wyndham Worldwide Corp., including the 'BBB' corporate credit rating, on CreditWatch with negative implications.

The CreditWatch listing follows Wyndham's announcement that it plans to purchase the economy-segment Microtel Inns & Suites and the mid-scale extended-stay Hawthorne Suites brands from a subsidiary of Global Hyatt Corp.

The purchase price was not disclosed. While the brand acquisitions are a good strategic fit for Wyndham, the announcement comes at a time when Wyndham's leverage profile (captive finance adjusted) is higher than our comfort level at the current rating level.

(That said, we expect the transaction to add only a modest amount to the company's leverage--and all by itself, the transaction would not lead to a potential downgrade.) Captive finance adjusted leverage was near 3x at March 2008, compared with appropriate levels for a 'BBB' rating in the mid-2x area.

We currently anticipate continued operating momentum in Wyndham's businesses and an increase in EBITDA in 2008. We will factor our expectation for operating performance, as well as how the company plans to use its balance sheet to achieve intermediate- and long-term growth objectives, into the resolution of the CreditWatch listing.

"In the event there is a downgrade, we expect that it would be limited to one notch," noted Standard & Poor's credit analyst Emile Courtney.

Media Contact:Mimi Barker, New York (1) 212-438-5054, mimi_barker@standardandpoors.com Analyst Contact:
Emile Courtney, CFA, New York (1) 212-438-7824

Priscilla of Boston to Debut on Coral Gables' Miracle Mile

Terranova Corp. Signs the Bridal Company to a 10-year, 6,900-SF Lease Valued at Over $3.3M

MIAMI BEACH, FL – June 3, 2008 – Priscilla of Boston, a bridal company that has been around almost 60 years, is joining the growing list of national retail chains opening stores on Miracle Mile (top right photo)-- the signature street of downtown Coral Gables, known for designer and bridal shops, art galleries, restaurants and live theatre.

Terranova Executive Vice President, Mindy McIlroy represented the landlord in the 10 year, 6,900 square foot lease. This marks the first store for the retailer in the state. Priscilla of Boston will open its doors 4th quarter 2008 at 340 Miracle Mile, Coral Gables, FL.

Terranova Chairman Stephen Bittel had a vision that Miracle Mile would lend itself to becoming the next Lincoln Road with the acquisition of eight properties in October 2004 on the Mile totaling 79,751 square feet of retail space.

“Since the 1940s, Miracle Mile has been known as Coral Gables’ original retail shopping destination and we hope to continue that current evolution into a modern, stroll-and-shop urban street for the city’s fast-growing residential and daytime population by bringing in more national retail chains,” Bittel said.

Priscilla of Boston’s legacy that was started almost 60 years ago lives on in the quality and craftsmanship of each gown and the high level of service given to every customer at their salons.
Each collection combines the heritage of couture craftsmanship with modern, flattering silhouettes and sumptuous fabrics. Unique details and luxurious embellishments add an element of individual style and classic, timeless elegance.
Today, Priscilla of Boston brands offer an extensive selection of exclusive styles each season, which can be customized to suit each bride's preference.

CONTACT: Karen LaFleur, klafleur@terranovacorp.com

Commercial/Multifamily Originations Lowest Since 2004

Originations for CMBS Show Biggest Drop

WASHINGTON, DC (June 3, 2008) - Commercial and multifamily mortgage bankers' loan originations fell on a year-over-year basis in the first quarter, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

First quarter originations were fifty-three percent lower than during the same period last year. The year-over-year decrease was seen across all property types and most investor groups.

"Three trends jump out from this quarter's figures: the impact of the credit crunch, a return from the extraordinary record origination volumes of 2005, 2006 and 2007 and strong variation between different investor groups," said Jamie Woodwell, (top right photo) MBA's Senior Director of Commercial/Multifamily Research.

"First quarter originations for the CMBS market were at their lowest since the survey began in 2001, originations for life companies and for banks and thrifts fell to levels last seen in 2004, and originations for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac hit record highs for a first-quarter."

(For a complete copy of MBA's news release, please contact Jason Vasquez (202) 557-2950, jvasquez@mortgagebankers.org

Tri-City Electrical Contractors, Inc. Completes Work at Wildflower Apartments in Gainesville, FL

GAINESVILLE, FL – The Residential and Multi-family Division of Tri-City Electrical Contractors, Inc. completed $1.5 million of work at Wildflower Apartments, (top right photo) a new 201-unit rental community in Gainesville, FL, under its contract with Epoch Properties, Winter Park, FL.

Florida’s leader in electrical contracting, communications and service, Tri-City reported 2007 revenues totaling $160 million. With nearly 1,200 employees statewide, the Orlando-based electrical contractor and service provider also operates divisional offices in Fort Myers, Ocala/Gainesville and Tampa, as well as satellite offices in Santa Rosa Beach and Sarasota.

Kenneth H. Cristol, President, Cristol Marketing Company, 237 Hunt Club Blvd., Suite 102, Longwood, FL 32779 USA. PH 407-774-2515. FX 407-774-6647. Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications

RealtyTrac's Rick Sharga to Speak on Foreclosure Legislation at USFN Default Servicing Conference

IRVINE, CA– Real estate expert Rick Sharga, (top right photo) vice president of marketing at RealtyTrac™ (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, will speak at the annual 2008 USFN National Default Servicing Seminar and Technology Forum on Friday, June 6, at the Grand Hyatt in San Antonio, Texas.

Sharga is slated to speak about the latest foreclosure prevention legislation at a 9:00 a.m. panel discussion titled “In the News: Current Issues Affecting Default Servicing Industry.”

“The housing slump — accompanied by a surge in foreclosures — in the midst of a presidential election year has pushed foreclosure prevention legislation to the top of many politicians’ priority lists,” Sharga said.

“The U.S. House and Senate both recently passed legislation aimed at providing relief to homeowners facing foreclosure, and many states have passed or proposed similar measures. Many of the laws being considered, or already enacted, could have a significant impact on the default servicing industry.

"In addition, the Executive Branch has also attempted to address the issue via programs such as HOPE NOW and FHA Secure, which are designed to provide lifelines to distressed homeowners.”

For additional information on Sharga's topic and background on USFN, please contact Tammy Chan, Atomic PR, 415-402-0230, tammy@atomicpr.com

GVA Advantis Negotiates Purchase of 4211 Emerson St. for Florida Home Air Conditioning & Plumbing

JACKSONVILLE, FL – (June 3, 2008) – GVA Advantis has negotiated the purchase of 4211 Emerson Street in Jacksonville, Duval County , Florida for $831,500.00.

Senior Director Monte Merritt (top right photo) of GVA Advantis’ Jacksonville office, Executive Director Scott Nelson (photo at left) of GVA Advantis’ Atlanta office and Associate Director Muscoe Garnett of GVA Advantis’ Richmond, VA office exclusively represented the buyer, American Residential Systems, d/b/a Florida Home Air Conditioning and Plumbing, in the selection and purchase of this facility.

The seller, Smyrna, Georgia-based Bard Group, LLC, was represented by Grubb & Ellis Phoenix Realty Group.

“Our search for properties included all sites in Southside—J. Turner Butler Boulevard to the south,” states Merritt. “This facility had everything they were searching for, including the land size and an enclosed secured environment.”

The facility at 4211Emerson Street is a ±12,800 square foot single-story warehouse/distribution building situated on approximately 2.03 acres.

“The location and land size will allow Florida Home Air Conditioning and Plumbing to serve the growing Jacksonville area,” explains Bryan Craun, general manager.

“With the entire yard fenced we can have all 40 vans, trucks and equipment kept here on site in a secured environment,” he adds.

Media Contact: Lisa Hyde, 813 342 4752, lhyde@gvaadvantis.com

Perma-Fix Completes Sale of Tulsa Industrial Facility for Approximately $1.5M

ATLANTA, June 3, 2008 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) ("Perma-Fix") has completed the previously announced sale of one of its Industrial segment facilities located in Tulsa, Oklahoma, to A Clean Environment Company, Inc. ("ACE") for approximately $1.5 million in cash, subject to certain working capital adjustments during the third quarter of 2008, and the assumption of certain liabilities.

ACE is an environmental services company located in Wilson, Oklahoma.The sale of the Tulsa facility by Perma-Fix represents the third completed transaction in connection with Perma-Fix's plan to divest all or large part of its Industrial segment.

Perma-Fix has previously disclosed the completion of the sale of its Maryland and Dayton, Ohio, facilities within its Industrial segment.

Perma-Fix is a national environmental services company, providing unique mixed waste and industrial waste management services.

Perma-Fix has increased its focus on the nuclear services segment, which provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including DOE and the U.S. Department of Defense and nuclear utilities.
The Industrial segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients.

Please visit us on the World Wide Web at http://www.perma-fix.com/

Dr. Louis F. Centofanti, Chairman and CEO, Perma-FixEnvironmental Services, Inc., +1-770-587-5155;

David K. Waldman-US InvestorRelations, Crescendo Communications, LLC, +1-212-671-1020 x101;

HerbertStrauss-European Investor Relations, +43 316 296 31, herbert@eu-ir.comWeb site: http://www.perma-fix.com/

Regency Centers to Audio Webcast Presentation at NAREIT Investor Forum

Regency Centers Corporation (NYSE:REG) is scheduled to make a presentation at the National Association of Real Estate Investment Trust's REITWeek 2008 Investor Forum(R) on Thursday, June 5th at 9:30 a.m. ET.

The presentation will be broadcast live via audio webcast to all interested parties and can be accessed via a link posted on the Regency Centers' website: http://www.regencycenters.com/.

A replay of the webcast will also be archived on the site following the event.Regency Centers Audio Webcast Presentation
Date: Thursday June 5, 2008
Webcast Time: 9:30 a.m. - 10:05 a.m. ET
URL: http://www.regencycenters.com/
Page/Tab: Investor Relations / Webcasts & Presentations
Speaker: Martin E. (Hap) Stein, Jr. - Chairman & CEO (top right photo)

Contact: Regency Centers Corporation, Jacksonville, FL, Lisa Palmer, 904-598-7636, www.RegencyCenters.com

Marcus & Millichap Arranges Sale of $18.85M Self-Storage Portfolio in Ohio

COLUMBUS, OH– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services brokerage firm, has arranged the sale of the Storage Inns of America portfolio.

The 418,020-square foot, seven-property self-storage portfolio commanded a sales price of $18.85 million , representing $45.09 per square foot and a cap rate of 5.16 percentt cap rate.

Michael Mele, (top right photo) a vice president of investments in the Tampa office of Marcus & Millichap; and Adam Schlosser and Brett Hatcher, both investment specialists in the firm’s Columbus office, represented the seller, a Dayton-based private investor.

Sean Delaney and Jesse D. Luke, both self-storage investment specialists in the firm’s Oak Brook office, represented the buyer, a Mishawaka, Ind.-based investment group. The Indiana firm is rapidly acquiring self-storage assets throughout the Midwest.

“By adding this portfolio to its existing holdings, the new owner has obtained a large percentage of the Columbus self-storage market, achieving substantial economies of scale and receiving the enormous upside potential of continuing to lease-up the available space with better management and improved promotion of the sites,” says Schlosser.

“This deal showcases the ability of Marcus & Millichap’s unique platform to produce positive results. Because of Marcus & Millichap’s unique approach to brokerage and our ability to access capital nationwide, we were able to arrange the sale of this asset even during the current capital markets crisisIt’s the main reason why we are closing deals while most of our competitors are not,” addsed Mele.

(Downtown Columbus photo is at left)

“Using the firm’s collaborative approach, We were able to use a collaborative approach, using five brokers in three different offices across the country worked together on this transactione offices to get the desired results. At a time when all you hear is how bad the credit market is, we were able to securefind a buyer who was able to close this could close a deal with a significant amount ofquite a bit of upside built into the price.”

The Storage Inns of America Portfolio includes:

· 608-unit facility at 1330 Georgesville Road, Columbus
· 576-unit facility at 7200 Tussing Road, Reynoldsburg
· 570-unit facility at 9984 South Old State Road, Lewis Center
· 520-unit facility at 5199 Westerville Road, Columbus
· 460-unit facility at 5301 East Tamarack Circle, Columbus

· 426-unit facility at 580 East Dublin-Granville Road, Worthington · 342-unit facility at 1585 Lexington Ave., Mansfield

All of the facilities are located on, or exposed to major thoroughfares with ample frontage and are surrounded by strong market demographics in the Columbus MSA.

Each property is of similar construction: a single-level storage facility with standard drive-up, interior climate control, steel or brick exterior, metal framing, steel roof and concrete slab with asphalt driveway.

All locations feature exterior lighting, perimeter fencing with computerized-gate access, a manager’s office and attractive signage exposing the Storage Inns of America logo.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Trump Entertainment Rating Not Affected By Agreement To Sell Trump Marina

(Photo by Craig Allen of Getty Images)

NEW YORK, June 3, 2008--Standard & Poor's Ratings Services said today that its rating and outlook on Trump Entertainment Resorts Holdings L.P. (B-/Negative/--) are unaffected by the company's recent announcement that it has entered into an agreement with Coastal Marina LLC to sell the Trump Marina Hotel and Casino in Atlantic City, NJ.
(Donald J. Trump, chairman, Trump entertainment Resorts Holdings, is at top right photo.)

The sale price of $316 million is subject to potential adjustments around working capital and EBITDA performance prior to closing, and closing is subject to certain regulatory approvals.

Under the terms of the senior secured credit facility, which were amended in conjunction with the agreement to sell Trump Marina, the company is required to use the greater of $140 million or 50% of the aggregate net cash proceeds to acquire substitute collateral acceptable to the lenders within one year of the sale.

If acceptable substitute collateral has not been identified within one year, senior secured lenders may require the company to repay bank debt. We expect the other 50% of proceeds from the sale to remain on the balance sheet in the form of excess cash.

(For a complete copy of Standard & Poor's news release, please contact Mimi Barker, New York, 1 212 438 5054, mimi_barker@standardandpoors.com.