Thursday, September 18, 2008

HFF places $13.5M loan with Principal Global Investors for 2-8 Germak Drive in Carteret, NJ

FLORHAM PARK, NJ, Sept. 18, 2008 – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it placed a $13.5 million loan with Principal Global Investors for 2-8 Germak Drive (middle right map) , a 299,625-square-foot industrial building in Carteret, New Jersey.

HFF senior managing director Jon Mikula (top right photo) and associate director Michael Klein (top left photo) worked exclusively on behalf of the borrower, The Hampshire Companies, to arrange the four-year, fixed-rate loan.

Proceeds are being used to purchase the property and pay for closing costs and leasing commissions to re-tenant the building.

P.C. Richard & Sons will occupy the entire property for use as a warehouse distribution facility, service center and training facility.

Situated on 15.7 acres, 2-8 Germak Drive is close to Exit 12 off the New Jersey Turnpike as well as the Newark Liberty International Airport and Port Newark/Elizabeth Marine Terminal.

The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey with a portfolio of more than 15 million square feet of commercial space and assets valued at more than $2 billion.

Additional information on The Hampshire Companies and its funds is available online at

Jon Mikula, HFF Senior Managing Director, 973 549 2000,
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

Post Properties Announces Quarterly Dividends

ATLANTA, GA(Business Wire))-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.45 per share for the third quarter of 2008.

The Company’s annual dividend rate is $1.80 per common share. The dividend is payable on October 15, 2008 to all common stock shareholders of record as of September 30, 2008.

(David Stockert, chairman, Post Properties Inc., top right photo)

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock.

On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the third quarter. The dividend is payable on September 30, 2008 to all Series A preferred stock shareholders of record as of September 15, 2008.

On its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $0.47656 per share for the third quarter.
The dividend is payable on September 30, 2008 to all Series B preferred stock shareholders of record as of September 15, 2008.

Contact: Post Properties, Inc., Chris Papa, 404-846-5000

Crescent Hotels & Resorts Opens Highmark, Steamboat Springs’ First Luxury All-Suite Hotel

STEAMBOAT SPRINGS, Colo., September 18, 2008 – Steamboat Springs’ first “ultra” luxury, all-suite hotel, the Highmark Steamboat Springs, (top right photo) with its official opening today has launched a level of service, amenities and product that is unparalleled in the family-oriented ski and year-round recreation destination.

The new property, operated by Crescent Hotels & Resorts, features luxury, expansive suites and penthouses, ranging in size from 1,600 to 2,400 square feet.

Located at the base of Mt. Werner, the Steamboat Ski area, the six-story, all-suite resort offers a truly unique combination of opulent accommodations and high-touch personal service.

“Steamboat Springs offers a wide array of lodging options, but this will be the first true luxury, all-suite hotel property in Steamboat,” said Highmark General Manager, Jamie McAnally, (middle left photo) a Yampa Valley native from nearby Craig, Colo.

McAnally, with more than 15 years experience managing major ski and beach resorts, added that the Highmark is different from any property he has ever seen.

“The Highmark is targeted to families and couples who want the same luxury they find in a five-star condominium, but who want the personal attention and services found only at a luxury hotel. The size and comfort of our suites, coupled with extraordinary attention to service, is unrivaled in Steamboat Springs and found in only a handful of hotels at any U.S. destination ski resort.”

Jerry Daly or Chris Daly, 703 435 6293,
Stacey Kramer (Colorado media), 970 846 3506,

Interstate Hotels & Resorts and The John Buck Company Open aloft Cool Springs, TN

ARLINGTON, Va., September 18, 2008—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 opened and will operate the aloftsm hotel Nashville-Cool Springs, (top right photo) in Tennessee.

The 143-room, newly built hotel is owned by a joint venture in which Interstate and The John Buck Company (TJBC) of Chicago, Ill., a real estate development firm, are partners.

It is the second aloft hotel developed and opened by the partnership in 2008. TJBC oversees development of the hotels for the partnership.

aloft is Starwood Hotels & Resorts’ premium, select-service hotel brand designed to appeal to a new generation of business and leisure travelers, featuring high design at an affordable price point, accessible technology, style and a social atmosphere.

Including the Cool Springs hotel, there currently are 18 aloft hotels open in 12 states, Montreal, Canada, and Beijing, China, with another two properties slated to open by year end and more than 50 worldwide in 2009.

“This is our second aloft hotel, and our 29th joint venture property this year, an area we have focused on in 2008,” said Thomas F. Hewitt, (top left photo) Interstate’s chief executive officer. “Our first aloft in Rancho Cucamonga, Calif., continues to generate buzz and excitement among both business and leisure travelers, and we are delighted to be in the vanguard of developers bringing this trend-setting hotel to the traveling public.”

“aloft has been one of the most high profile brand launches in hotel industry history, and based on guest response, is exactly what today’s savvy travelers are looking for—user-friendly technology, urban-inspired design that encourages guest interaction, great value,” said Paul Novak, (middle right photo) TJBC’s managing director, hospitality division.

Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320
Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297

HFF Indianapolis hires Brian Kelly to join Indianapolis Office Investment Sales Team

INDIANAPOLIS, IN – HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has hired Brian Kelly to join the Indianapolis Investment Sales Team. Mr. Kelly will serve as a director and as a member of the firm’s national multifamily group, and will continue his national focus on student housing properties.

Before joining HFF, Mr. Kelly worked as an investment sales broker at Marcus & Millichap where he built key relationships with national student housing developers and owners. Mr. Kelly previously worked as a financial analyst at Raytheon.
He is a graduate of Indiana University with a Bachelor of Science in Finance and a minor in Economics. Mr. Kelly is a member of the National Multi-Housing Council and the National Apartment Association.

“HFF is excited to have Brian join our company. We are enthusiastic about expanding our presence in the student housing market. With the strong investor interest in student housing due to the ever increasing demand in the sector, the timing could not have been better. We intend to introduce Brian more formally at the upcoming NMHC Student Housing Conference in Washington,” said Dave Keller, (top right photo) senior managing director of HFF Indianapolis.

David B. Keller, HFF Senior Managing Director, 317 630 3191,
Laurie F. McDowell, HFF Associate Director, 617 338 0990,

Marcus & Millichap Names Greg Price Sales Manager of Denver Office

DENVER, Sept. 17, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Greg Price (top right photo) sales manager of the Denver office, according to Harvey E. Green,(bottom right photo) president and chief executive officer of Marcus & Millichap.

“Greg brings a solid background and skill set to the sales manager position,” says Adam Christofferson,(top left photo) vice president and regional manager of the firm’s Denver office. “His experience with multi-family investment sales will be a remarkable asset to our clients and agents located in Denver and throughout the state of Colorado.”
Price joined the Denver office of Marcus & Millichap in January 2002 and became an agent and member of the National Multi Housing Group in 2003. In 2004, Price earned Rookie of the Year honors in the Denver office and was promoted to senior associate in July 2006. He also earned sales recognition awards from the firm in 2006 and 2007.

Price received his bachelor’s degree in environmental studies from the University of Colorado.
Press Contact: Stacey Corso
Communications Department
(925) 953-1716

Wyndham Hotels Introduce “Green” Uniforms Spun From Plastic

PARSIPPANY, N.J. (Sept. 18, 2008) – As part of its evolving “green” strategy, Wyndham Hotels and Resorts today announced the launch of a new ecologically-friendly uniform line for hotel staff using recycled polyester fibers spun from plastic beverage bottles.

Select Wyndham® hotels will introduce the new uniforms beginning this fall by job category.

Front desk and other customer-facing employees are required to begin wearing the new uniforms by the end of 2009 and housekeeping and other back-of-house staff by 2010. All new properties are required to provide the new uniforms upon opening.

The textiles are produced from post-consumer products, including recycled plastic beverage bottles, which are processed into flakes, then filaments that are spun into yarn and ultimately woven into very soft fabrics. Recycling polymers keeps more plastics out of landfills.

The uniforms, which do not require professional laundering, minimize the use of chemicals during cleaning and provide a cost savings to hotel operators.

Cincinnati-based Cintas Corporation will design and manufacture the uniforms and continue to introduce new eco-friendly fabrics for the Wyndham apparel program.

Wyndham Hotels and Resorts is the first national upscale lodging chain to mandate the Cintas eco-friendly uniforms systemwide.

“As part of our quest to find new and innovative green practices, we challenged Cintas to design a program that reflected our three Wyndham brand-defining pillars of innovation, personalization and flexibility,” said Faith Taylor (top right photo) , Wyndham Worldwide vice president of sustainability and innovation.

“Cintas answered the call by selecting trendy, eco-conscious garments that are machine washable, easily modified and mixed-and-matched for a more personal look.”

The end result is a “fashionable suit that is cost-effective and extremely comfortable,” added Taylor.

“We tested the uniforms at several Wyndham hotels and found staff appreciated the comfort of the garments but also the retail-inspired, upscale contemporary look,” said Peter Strebel, (top left photo) Wyndham Hotels and Resorts president.

“Introducing a sustainable uniform is not only consistent with our vision to be more mindful of the environment, but also educates employees on the importance of being green-minded at all levels of the organization.”
The new Wyndham uniforms will be displayed at the 2008 International Hotel/Motel & Restaurant Show to be held in New York’s Jacob K. Javits Convention Center, Nov. 8-11, at the Cintas Corporation trade show booth.

In addition to its “green” uniforms, the Wyndham chain incorporates several ecologically-friendly initiatives including use of energy-efficient compact fluorescent lighting; low-flow water practices; an “Earth Smart” guest linen reuse program; and numerous recycling efforts.

The chain recently announced its Wyndham ClearAir(sm) initiative to offer allergy-friendly guest accommodations designed to remove up to 98 percent of allergens. Wyndham Hotels and Resorts is the first national upscale lodging chain to mandate allergy-friendly rooms systemwide.


Evy Apostolatos, Director, Media Relations, Wyndham Hotel Group, 1 Sylvan Way Parsippany, NJ 07054. PH (973) 753-6590