Monday, June 23, 2008

Westin Opens Second Brand in Beijing

(Above is Beijing National Stadium where many of the Olympic Games events will be held)

BEIJING, CHINA--In the presence of Chinese government dignitaries, proud owners and senior hotel executives and staff members, the Westin Beijing Chaoyang (top left photo) opens it doors to welcome guests, in time for the 29th Beijing Olympic Games.

The 550-room property is the second Westin in Beijing, and its opening reflects the expansion of the Westin brand in China.

“It is our honor to work with China Jinmao Group Limited. We believe that both tourists and business travelers to Beijing will soon enjoy a renewing stay with both the luxurious accommodation and instinctive services provided by The Westin Beijing Chaoyang in China’s capital city.” said Daniel R. Aylmer, (top right photo) General Manager of The Westin Beijing Chaoyang.

“We are very excited to open in the booming area of Chaoyang District,(middle photo shows older area) adding more options in terms of accommodation and in the dining and entertainment scene, bringing a new breath of life and renewal to the city,” added Aylmer.

The Westin Beijing Chaoyang is located in the very heart of Beijing’s Central Business District. This central location offers a convenient retreat for business and leisure travelers alike. It is a 25-minute drive from Beijing International Airport and a convenient 15-minute walk to the major malls and bar district.

(Photo of the Guomao Bridge in Downtown Beijing is at right)

Adjacent to the international diplomatic and business community of Beijing. This makes the central presence of The Westin Beijing Chaoyang ideal, appropriate and exciting. The Westin is the latest upper upscale hotel to open in booming Liang Ma He area since the mid-90’s.

The 550-room hotel offers some of the largest guestrooms in the Chaoyang District with a minimum guestroom size of 40 m² and up to 320 m² for suites, all offering reprieve and renewal catered for guests’ needs.

The rooms are designed with sensitivity to each person’s unique path to unwind, to ensure that everyone leaves feeling better than they felt upon arrival. All The Westin Beijing Chaoyang rooms come with four signature features Heavenly Bed®, Rainforest Shower, Technology Support and Refreshment Center.


Hwee Peng, Hwee-Peng Yeo, Director, Corporate Communications, Starwood Asia Pacific Hotels & Resorts Ltd., 9 Temasek Boulevard, Suntec City Tower 2, #24-02, Singapore 038989.

Tel : +65 6335 4837; Cell : +65 9768 6087; +65 9248 0424. Fax : +65 6335 4820;

Parrish Medical Center, Fla.'s Bonds Rated 'A' On Dominant And Improving Business Position

NEW YORK, June 23, 2008--Standard & Poor's Ratings Services assigned its 'A' rating to North Brevard County Hospital District, Fla.'s series 2008 revenue bonds, issued for Parrish Medical Center. (ltop right photo)

At the same time, Standard & Poor's affirmed its 'A' long-term rating and 'A' underlying rating (SPUR) on debt previously issued by the district for the medical center.

The rating outlook remains stable.The rating on the 160-staffed-bed acute-care facility located in Titusville, Fla., reflects a dominant and improving business position, unused taxing authority, and sovereign immunity for malpractice liability as a public entity, a sound balance sheet offset by a deliberately weak income statement and some concerns about the local economy in the medium term.

More specifically, the 'A' rating reflects Parrish's improved market share and inpatient volumes over the past two fiscal years; its sound balance sheet, highlighted by strong days' cash on hand, and on a pro forma basis, sound cash to debt and adequate debt to capitalization; untapped financial flexibility due to the ability of Parrish's board to institute tax-millage rate for the hospital district, although historically the board has not used this tool despite recurring operating losses; and a sound management team that works well with its medical staff to demonstrate high quality care through available measurement metrics.

"The stable outlook reflects Parrish's sound business position and balance sheet combined with only modest capital needs going forward," said Standard & Poor's credit analyst Martin Arrick.

Media Contact:

Christopher Mortell , New York, (1) 212-438-3446

Analyst Contacts:

Martin D Arrick, New York, (1) 212-438-7963
Charlene Butterfield, New York, (1) 212-438-2741

Meridian Capital Group Arranges Financing for Tuscaloosa, AL Multi-Family Property

TUSCALOOSA, AL - Meridian Capital Group recently arranged $10,800,000 in financing for 5050 Cypress Creek Avenue East.

The property consists of 15 buildings and a total of 220 units. Max Beyderman and David Cohen of Meridian’s New Jersey office negotiated on behalf of the borrower, Sealy Realty, to secure a rate of 5.5% over a seven-year term mortgage with two years of interest-only payments.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors.

The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California and Texas.

Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties.

Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.

Contact: Dani Sabesan, (212) 612-0109

Meridian Capital Group Arranges Financing for 320-Unit Multi-Family Property in St. Petersburg, FL

St. PETERSBURG, FL - Meridian Capital Group has arranged a loan in the amount of $12,080,000 for the acquisition of Emerald Bay Apartments (top right photo).

The property consists of 39 buildings totaling 320 units located on 38th Avenue South.

Michael Brown and Brad Gladsden of Meridian’s Florida office negotiated to secure a fixed rate of 5.71% over a 5-year term with 2 years of interest only, non-recourse, and no replacement reserves.

This is the 6th transaction Meridian has completed for the client.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors.

The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas.
Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties.

Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.

Contact: Dani Sabesan, (212) 612-0109

Prime Nevada Properties Listed by Marcus & Millichap

SPARKS, NV-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Kiley Ranch North Village Center, (aerial photo top right) a 25-acre mixed-use site in Sparks. The listing price is $13.08 million.

Sam Medford, an investment specialist in the Santa Fe office of Marcus & Millichap, is representing the seller, Kiley Ranch Communities.

“Due to the project’s significant regional location, it is a great opportunity for an investor to develop into a suburban core center for the northern Sparks Area,” says Medford.

Situated at intersection of Sparks Boulevard and Pyramid Highway, the property – designated the Village Center – is a master-planned community tentatively entitled for commercial and multi-family use.

There are approximately 700 residential units currently ready for occupancy.

The parcel features frontage along the Pyramid Highway corridor, where most of the community’s commercial and office/business park uses are located. Also available is Kiley Ranch Legacy Commons Business Park, (top center photo) a master-planned residential and commercial community that consists of 144 acres.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

Parkway Properties Honored Nationally as One of the 50 Best Places to Work

JACKSON, MS, June 23 /PRNewswire-FirstCall/ -- PARKWAY PROPERTIES, INC. (NYSE:PKY) announced today that for the second time, it has been named one of the 50 Best Small & Medium Companies to Work for in America.

(Photos: top right, Steven G. Rogers, Parkway Properties president/CEO; middle left, J. Mitchell Collins Parkway Properties CFO; middle right, Warren L. Speed, Senior Vice President)

The list was announced June 23rd before an audience of more than 15,000 human resource professionals at the Society for Human Resource Management's (SHRM) 60th Annual Conference & Exposition in Chicago.

This annual list, now in its fifth year, ranks the top 25 small and top 25 medium-sized companies in America that use smart people management strategies to develop successful organizations with highly productive and satisfied workforces.

The organizations, ranging in size from 50 to 999 employees, were announced by SHRM and selected and ranked by the Great Place to Work(R) Institute (GPTW).

The results were based on a randomly distributed employee opinion survey. Each company evaluated was given a score based on employees' responses to a detailed questionnaire about the organizations' workplace cultures. Stories about the winning organizations will appear in the July issue of HR Magazine, the Society's flagship publication with a circulation of 210,000 (available at ). The winning organizations will also be listed on GPTW web site at

Steven G. Rogers, (top right photo) President and Chief Executive Officer of Parkway, stated, "Over the past several years we have received a number of awards, recognitions and accolades, but I am proudest of this one because it comes from the heart of our Company, our people.

"We are humbled by this award, which reflects the level of trust, pride and camaraderie within the Parkway team."

(Middle left photo, NAREIT 2007 Light Silver Award won by Parkway Properties)

"Small and medium-sized companies make up the majority of the American economy and workforce," said SHRM President and CEO, Susan R. Meisinger, (middle right photo below Steve Rogers photo) SPHR. "These winning organizations demonstrate that making effective use of their workforce is key to their success, and their accomplishments deserve recognition."

Great Place to Work Institute co-founder, Robert Levering, (bottom left photo) said, "These companies stand out because their employees find them to be places where they can trust the management, take pride in their work and have fun. Other companies have much to learn about how to be productive and do right by their people."

(Bottom right photo, ULI 2007 Award of Excellence for Toyota Center, a five-story, 175,000-sf property converted from the former William R. Dry Goods Building.)

SHRM is the world's largest association devoted to human resource management. Representing more than 225,000 members in over 130 countries, the Society serves the needs of HR professionals and advances the interests of the HR profession.

Founded in 1948, SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China and India.Great Place to Work Institute Inc. is an international research and consulting firm dedicated to building great workplaces.

Great Place to Work Institute uses its employee survey and assessment process to select the companies appearing on the annual "Best Small & Medium Companies to Work For in America" list and FORTUNE's 100 Best Companies to Work For (C) list.

In addition to its global headquarters in San Francisco, Great Place to Work Institute has 29 affiliates in countries throughout North America, South America, Europe and Asia.

Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the operation, leasing, acquisition, and ownership of office properties.

The Company is geographically focused on the Southeastern and Southwestern United States and Chicago. Parkway owns or has an interest in 69 office properties located in 11 states with an aggregate of approximately 14.1 million square feet of leasable space as of June 23, 2008.

Included in the portfolio are 21 properties totaling 3.8 million square feet that are owned jointly with other investors, representing 27.2% of the portfolio. Under the Company's GEAR UP plan, which started January 1, 2006, and ends December 31, 2008, it is the Company's strategy to transform from an owner-operator to an operator-owner.

The strategy highlights the Company's strength in providing excellent service in the operation of office properties in addition to its direct ownership of real estate assets. Fee-based real estate services are offered through the Company's wholly owned subsidiary, Parkway Realty Services, which also manages and/or leases approximately 1.6 million square feet for third-party owners as of June 23, 2008.

Parkway Properties, Inc.'s press releases and additional information about the Company are available on the World Wide Web at


J. Mitchell Collins, (top left photo) Chief Financial Officer, or Warren L. Speed, (middle right Photo) Senior Vice President, both of Parkway Properties, Inc., +1-601-948-4091

Web sites: