Monday, August 25, 2008

Cushman & Wakefield Negotates Sale of Southwest Florida Industrial Portfolio for $31M

TAMPA, FL – Aug. 25, 2008 – Cushman & Wakefield negotiated the sale of a 252,422 square foot Industrial Portfolio in Naples, Florida for $31 million.

Collier Park of Commerce (top right photo) - a seven building, 189,523 square foot park and Commerce Center (middle left photo) - a four
building, 62,899 square foot park are located at the northern border and directly across for the Naples
Municipal Airport. Combined, the portfolio was 96 percent occupied at the time of the sale.

Executive Director of Florida’s West Coast Capital Markets Group, Mike Davis,(bottom right photo) was quoted as saying, “Seven qualified full portfolio offers were evaluated before the selection of The Adler Group as the buyer.
This is significant since it demonstrates continued investor confidence in the Southwest Florida market.”

Executive Director Mike Davis (Capital Markets/Tampa); Associate Director Rick Brugge, CCIM (Capital Markets/Tampa); Executive Director Gary Tasman (C&W Naples) and Associate Director Brandon Stoneburner (C&W/Naples) negotiated the sale on behalf of the seller, Lund Capital Group. The buyer was The Adler Group.

Contact: Debbie P’Simer

HFF closes bridge financing on behalf of Lone Star Funds

DALLAS, TX, Aug. 25, 2008 – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged bridge financing for a portfolio of 26 corporate-owned assets of Lone Star Steakhouse & Saloon, Inc. (top right photo)

HFF managing director Mark West (top left photo) and associate director Clint Corn worked exclusively on behalf of Lone Star Funds to secure the floating-rate loan through a regional bank.

In late 2007, HFF arranged a similar execution on a pool of 17 Lone Star Steakhouses & Saloon, Inc. assets through a separate regional bank.

Lone Star Funds acquired Wichita-based Lone Star Steakhouse & Saloon, Inc. in December 2006 through a public-to-private buyout.

The 27 restaurants are located in Alabama, Colorado, Illinois, Kansas, Maryland, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Tennessee and Utah.

Lone Star Funds are closed-end, private-equity limited partnerships that include corporate and public pension funds, university endowments, foundations, bank holding companies, family trusts and insurance companies.
Since 1995, the principals of Lone Star have organized private equity funds totaling more than $23 billion to invest globally in secured and corporate unsecured debt instruments, real estate related assets and select corporate opportunities.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.


Clint Corn, HFF Associate Director, 214 265 0880,

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

HFF closes sale of Class A West Palm Beach office buildings

MIAMI, FL, Aug. 25, 2008-– The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Centurion Tower (top right photo) and NorthPoint Corporate Center, (middle left photo) two suburban Class A office buildings totaling 243,000 square feet in West Palm Beach, Florida.

HFF managing director Hermen Rodríguez, (middle right photo) executive managing director Manny de Zárraga, director Ike Ojala (bottom left photo) and associate director Luis Castillo led the investment sales team on behalf of the seller, JP Morgan Asset Management.
1400 Centrepark was also purchased by TA Associates as part of this transaction through HFF in July.

Centurion Tower and NorthPoint Corporate Center are located at 1601 Forum Place and 701 Northpoint Parkway respectively, proximate to Interstate 95 and downtown West Palm Beach.

Centurion Tower has 14 stories of office space totaling 143,938 square feet and is situated on a 2.3 acre site. Key tenants at the 87% occupied property include Oxbow, Kolter and BDO Seidman.

Northpoint Corporate Center is a five-story, 99,030-square-foot office building that is 86.5% leased to tenants including CBS Radio Stations, AT&T and First American Title.

“Together with the sale of 1400 CentrePark, this portfolio was one of the largest of its size and prominence in the Palm Beach area,” said Rodríguez.
HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.


Hermen Rodriguez, HFF Managing Director, 305 448 1333,

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

Tremont Structures $2,715,000 Financing for Wyoming Manufactured Housing Community

CHICAGO, IL--The Chicago office of Tremont Realty Capital arranged financing for the acquisition of Antelope RV & Mobile Home Park, (bottom left photo) a 120-site MHC located in Gillette, Wyoming.

Thomas Lorenzini, (top right photo) a Managing Director with Tremont, arranged the $2,715,000 first mortgage loan, which was funded through a local Chicago bank.

The 36-month, recourse loan provided for roughly 75% loan-to-value with a 6% interest rate. The property was 99% occupied at the time of closing. Amenities include a children’s playground. According to Lorenzini, “Tremont was able to arrange the financing and facilitate a quick close for the client despite the challenging capital markets.”

Tremont Realty Capital, LLC is a national real estate investment and advisory firm, which makes direct debt and equity investments and provides institutional advisory services. Direct programs include high leverage bridge loans, short and long term mezzanine loans and equity capital.

The Chicago office of Tremont Realty Capital is located at 30 N. LaSalle Street, Suite 2050, Chicago, IL 60602. The phone number is 312.236.0960 and the fax number is 312.236.1534. You can visit Tremont on the Internet at

For additional information on this transaction, please contact: Tom Lorenzini at 312.236.0960 or

Aimee Munsey, Senior Associate, Marketing & Communications, Tremont Realty Capital
The Prudential Tower 800 Boylston Street, 45th Floor Boston, MA 02199 p: 617.867.0700 x784. f: 617.867.0077

Interstate Hotels & Resorts to Manage Newly Built Best Western in Lower Manhattan

Hotel Operator's First Project with Ben Wong, founder of Wok and Roll Restaurants

ARLINGTON, VA., Aug. 25 /PRNewswire-FirstCall/ -- Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation's largest independent operator of full- and select-service hotels, today announced that it has signed a contract to manage the 102-room Best Western Bowery Hanbee Hotel (top right photo) in Lower Manhattan/Chinatown in New York City.

The newly built property is owned by Ben Wong, founder and principal owner of New York- based Wok and Roll Restaurants,(middle right photo) a major fast food operator with restaurant locations nationwide.

Interstate now manages a total of nine hotels in New York City.
"New York is a critically important U.S. market, and we continue to expand our presence there," said Thomas F. Hewitt, (top left photo) chief executive officer at Interstate.

"The Best Western is our first hotel on the vibrant Lower East Side and our first project with Ben Wong, a well respected and progressive entrepreneur. Our management pipeline remains quite active, with current owners being an important source of new business."

"Our growing New York portfolio also includes five hotels that we operate elsewhere in the state, bringing our total to 14 hotels statewide," said Leslie Ng, chief investment officer. "This cluster strategy allows us to take advantage of significant operating synergies and economies of scale. New York remains one of the most robust markets in the nation, and we continue to drive performance for our owners."

Located at the intersection of the Bowery and Grand Street in the heart of Chinatown and Little Italy, the eight-story Best Western hotel is within walking distance of SOHO, Tribeca, a short subway ride to Broadway theaters, the Wall Street financial district and the Brooklyn Bridge.

The hotel is also proximate to several major city attractions, such as Trinity Church, the World Trade Center memorial and Battery Park. Hotel amenities include a complimentary continental breakfast, an exercise facility and a business center. Guestrooms feature high-speed Internet access.

As of today, Interstate Hotels & Resorts has ownership interests in 56 hotels and resorts, including seven wholly owned assets. Together with these properties, the company and its affiliates managed a total of 225 hospitality properties with approximately 46,000 rooms in 36 states, the District of Columbia, Russia, Mexico, Canada, Belgium and Ireland. Interstate Hotels & Resorts also has contracts to manage 15 to be built hospitality properties with approximately 3,600 rooms.

For more information about Interstate Hotels & Resorts, visit the company's Web site:


Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320
Chris Daly, Vice President, Daly Gray Public Relations, ph: 703-435-6293

Wyndham Hotel Group Announces Ramada Encore Deal for South Korea

PARSIPPANY, N.J. (Aug. 25, 2008) – Wyndham Hotel Group today announced an exclusive agreement with a South Korean company to develop 20 Ramada® Encore hotels in that country during the next six years, nearly tripling the brand’s presence there.

(Ramada Encore Hotel Wuxi, China, top right photo)

AT Hotels Management, based in Seoul, South Korea, will develop and manage the hotels, which will range in size from 80 to 200 rooms and be situated throughout the country.

Stephen Young, (middle right photo) Wyndham Hotel Group senior vice president, international development, said the hotels will feature the Ramada Encore signature contemporary design with multipurpose function space.

Guest rooms will include power showers, Internet access, work areas, direct-dial telephones, tea and coffee facility and flat-screen televisions with satellite programming. A select number of family rooms will accommodate up to two adults and two children.

Tom Monahan, (top left photo) Wyndham Hotel Group executive vice president, international development, said the agreement will “further strengthen our distribution and leadership in South Korea.”

James Jeong, (bottom left photo) AT Hotels Management chief executive officer, noted that his company opened its first Ramada Encore hotel in Pohang, South Korea, in 2005. “Ramada Encore hotels are the right midscale segment product for South Korea,” he said.

Wyndham Hotel Group, one of three principal components of Wyndham Worldwide Corporation (NYSE: WYN), encompasses nearly 7,000 hotels representing more than 581,000 rooms in 65 countries on six continents under the Wyndham®, Ramada®, Days Inn®, Super 8®, Wingate® by Wyndham, Baymont Inn & Suites®, Microtel Inns and Suites®, Hawthorn Suites®, Howard Johnson®, Travelodge®, Knights Inn® and AmeriHost Inn® brands.

All hotels are owned individually and operated independently or by Wyndham Hotel Management. Wyndham Hotel Group is based in Parsippany, N.J. Additional information is available at


Rich Roberts, Vice President, Communications Wyndham Hotel Group, 1 Sylvan Way, Parsippany, NJ 07054 PH (973) 753-6590