Monday, October 27, 2008

Wyndham Hotels and Resorts Adds Landmark Historic Hotel in New Orleans

PARSIPPANY, N.J. (Oct. 27, 2008) – Wyndham Hotels and Resorts today announced the addition of the 251-room Chateau Bourbon, (top right photo) a Wyndham® Historic Hotel in New Orleans, to its portfolio of upscale hotels.

The former Chateau Sonesta hotel, owned by New Orleans-based HRI Lodging, is situated between Canal and Iberville Streets in the city’s famed French Quarter district.

The pre-Civil War structure was formerly the D.H. Holmes department store, which operated for more than 140 years until it was converted into a hotel in 1995 by HRI Properties, Inc.

Upgrades to the property will include the addition of the Wyndham brand’s signature “Be Well” bedding; flat screen televisions; new guest room and public space carpeting; and significant enhancements to bathrooms, guestroom furniture and fixtures.

The Chateau Bourbon Hotel is the ninth historic property to join the Wyndham portfolio, which also includes the Whitney in New Orleans; Abraham Lincoln in Reading, Pa.; Hotel Galvez and Tremont House in Galveston, Texas; The Roberts Mayfair in St. Louis; The St. Anthony in San Antonio; Union Station in Nashville; and The George Washington in Winchester, Va.

Peter Strebel, (middle left photo) Wyndham Hotels and Resorts president, said Wyndham historic hotels “have a true sense of place” and are a “unique part of the brand’s DNA.”

“Wyndham historic properties elegantly blend their historic integrity, unique architectural features and ambience with the contemporary creature comforts today’s travelers expect,” he said. “We are honored to welcome the Chateau Bourbon Hotel to our distinguished family of celebrated historic hotels.”

“Our goal is to restore the Chateau Bourbon, A Wyndham Historic Hotel back to its status as one of the finest hotels in the French Quarter through our affiliation with the Wyndham brand, which has a sterling reputation in the lodging industry for supportive and valuable partnerships with hotels in historic buildings,” said HonorĂ© Aschaffenburg, president of HRI Lodging.

Following its opening in 1849, the former D.H. Holmes department store became beloved by New Orleans shoppers. It later gained broader appeal by the 1981 Pulitzer Prize-winning novel A Confederacy of Dunces whose opening scene features the landmark’s famous “clock,” a favorite meeting place for generations of New Orleanians.

Property highlights include 12-foot ceilings in each guest room; a contemporary art collection featuring original art by emerging and established artists; the Atrium Courtyard, with its glass roof and exposed cypress beams from the D.H. Holmes building; the Clock Bar lounge adorned by alabaster pillars from the original D.H. Holmes soda fountain; Ralph Brennan’s Red Fish Grill; (middle right photo) and Tempo Restaurant. (bottom left photo)

Modern comforts and amenities include an airline boarding pass station; in-room spa services; wired and wireless high-speed Internet access; Nintendo®; heated outdoor pool; 24-hour business center; and complimentary fitness facility.

Specializing in meeting and wedding events, the hotel also offers 10,000 square feet of function space including 10 meeting and banquet rooms for groups up to 320.

Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN), offers upscale hotel and resort accommodations throughout the United States, Canada, United Kingdom, Mexico and the Caribbean.
All hotels are either franchised or managed by Wyndham Hotels and Resorts or an affiliate. Additional information is available at


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

Marcus & Millichap Capital Corp. Arranges $1.8M Loan for Brooklyn, NY Office Building

BROOKLYN, N.Y., Oct. 27, 2008 – Marcus & Millichap Capital Corporation (MMCC) has arranged a $1.8 million fixed-rate loan to refinance a 12,000-square foot office building in the Park Slope neighborhood of Brooklyn. (top right photo)

Sean Mooney, the associate director in the firm’s Brooklyn office, arranged the financing package for the multi-tenant office building at 1713 Eighth Ave.

“The property had multiple challenges with construction, zoning and usage issues,” says Mooney.

“MMCC was able to remedy the issues and execute the transaction within the original time frame.” (Typical Park Slope neighborhood, bottom left photo)

Financing for this transaction was provided by a commercial bank at a 6.12 percent fixed rate. Terms of the loan are for 5 years with a 30-year amortization schedule. Loan-to-value was 75 percent.

“MMCC was able to provide favorable rates and terms on this transaction that exceeded the expectations of the borrower,” says Mooney.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704

U.S. Retail Sector Bracing For Grim Holiday Season As Economy Weakens, Says New S&P Report

NEW YORK Oct. 27, 2008--The end of 2008 is shaping up to be the most difficult holiday season in memory for U.S. retailers.

Faced with a torrent of challenges, including a horrible housing market, rising unemployment, falling consumer spending, declining consumer confidence, extraordinary stock market volatility, and uncertainty in the financial markets, the domestic retail industry is back on its heels, according to a new report by Standard & Poor's Ratings Services titled "The 2008 Holiday Season: No Diamonds In The Stocking," published earlier today on RatingsDirect.

"We think that the final quarter of 2008 will be a poor one as consumers continue to rein in their shopping," said Standard & Poor's credit analyst Gerald A. Hirschberg, "and that they will continue their long-standing history of waiting for last-minute bargains during the holiday."

With this as a background and the evidence of steadily declining same-store sales throughout the retail sector, we are predicting that November-December GAFO (clothing, accessories, department stores, discount stores, sporting goods, book stores, toy stores, consumer electronics, music, home furnishings, and other goods) sales will at best be flat with last year's $255 billion.

Media Contact: David Wargin, New York (1) 212-438-1579,

Analyst Contacts: Gerald A Hirschberg, New York (1) 212-438-7837

HFF secures $4.7M financing for retail lifestyle center in Washington Township, NJ

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured a $4.7 million permanent loan for Long Valley Village, a 29,600-square-foot lifestyle retail center in Washington Township, New Jersey.

Working exclusively on behalf of Claremont Properties, Inc., HFF placed the 10-year, fixed-rate loan with The Provident Bank.

Completed in 2005, Long Valley Village is 81% leased to tenants including Dunkin Donuts, Quizno’s Subs, Grow With Us Child Care, Tile Studio of Long Valley and Valley Music Center.

The property is located at 62 East Mill Road (State Route 24) in the Morris County suburb of Washington Township.

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.


Jon Mikula, (top right photo) HFF Senior Managing Director, 973 549 2000,

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

HFF closes sale of Two Riverway in Houston

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Two Riverway, (top right photo) a 17-story, Class A office building in Houston’s Galleria submarket.

HFF senior managing director H. Dan Miller(top left photo), managing director Robert Williamson, (middle right photo) associate director Marty Hogan (bottom left photo) and real estate analyst Trent Agnew led the investment sales team on behalf of the seller, Coventry Fund X, Ltd.

Two Riverway Holdings LLC, a subsidiary of Donerail Corporation, purchased the property for an undisclosed amount.

Two Riverway is situated within the 27-acre Riverway master-planned development at the southeast corner of Post Oak and Woodway Drive west of Interstate Loop 610 in Houston. The 92% leased property contains 369,479 square feet of which 55% is occupied by Chicago Bridge & Iron and IBM.

“Two Riverway’s location within the Galleria submarket provides strong barriers to entry due to the scarcity and high cost of available sites coupled with the current capital market environment,” said Miller. “Since 1999, only two Class A buildings have been built in the Galleria submarket and both are owner occupied.”
“The purchase of Two Riverway is testament to Houston’s desirability from the global investment community,” added Hogan.

Coventry Realty Advisors, Inc. is a real estate investment management/private fund and has acquired and developed over $2.5 billion of office, retail and mixed-use properties since its inception in 1982.


H. Dan Miller, HFF Senior Managing Director, 713 852 3500,
Martin T. Hogan, HFF Associate Director, 713 852 3500,
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990,

GVA Advantis Hires Radek Knesl, MBA, as Office and Industrial Associate in Tampa

TAMPA, Fla. – (Oct. 27, 2008) – GVA Advantis has hired Radek Knesl, MBA,(top right photo) as an associate of office and industrial services for its Tampa office.

“Radek is a great fit with GVA Advantis,” says Managing Director Lucas Hewett (middle left photo) . “With his financial background and strong analytical skills, he really understands how today’s economic climate affects our clients, and can use his experience to creatively seek solutions that will serve our clients’ best interests.”

Most recently Knesl was the vice president of business development for TCM Bank, N.A., a subsidiary of the Independent Community Bankers of America (ICBA) and ICBA Bancard.

During the ten years Knesl was with TCM Bank, he was the recipient of the company’s “Million Dollar Turnaround” award, was a speaker at numerous banking conventions and was instrumental in the growth of TCM Bank as it acquired over 250 community bank card portfolios.

A graduate of the University of Tampa, Knesl earned a Masters degree in Business Administration with a concentration in business management and entrepreneurship, as well as a Bachelor of Science degree, cum laude, in financial management and international business.

He was awarded the prestigious James H. Lingerfelt Ethics in Business award, an honor bestowed to a scholar who demonstrates high ethical standards and a strong potential for professional success and social responsibility.

Knesl is a Miller Heiman Certified sales professional and a licensed real estate sales associate in Florida. He is a member of Toastmasters International, has volunteered for the Internal Revenue Service (IRS) and Habitat for Humanity, and is a Trustee of the Robert W. Cook Scholarship Fund at the University of Tampa.

Knesl was born in the Czech Republic and immigrated to the United States in 1992. Since then he has resided in the Tampa Bay area, where he currently lives with his wife and son.


Lisa Hyde, Director of Marketing, Advantis Real Estate Services Company, 3000 Bayport Drive, Suite 100, Tampa, Florida 33607, Tel 813.342.4752, Fax 813.342.4004

Thomas D. Wood & Co. Brokers $4M in Two Loans

Miami Retail-Warehouse Building Gets $1.04M Loan
MIAMI, FL—Oct. 27, 2008— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $1,040,000 for the 1741 Building in Miami, Florida.

Ben Jimenez, (top right photo) Company Assistant Vice President, financed the loan through StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders, at a rate of 6.875%.

The fully-amortizing loan has a term of 15 years and a loan-to-value of 60%. The 11,880 square-foot retail/warehouse building is owner-occupied by India Clothier, and was built in 1965. The 1741 Building is located at 1741 NW 20th Street, Miami, Florida.

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

Handy Storage and Discount Mini-Storage, Pembroke Pines, Receives $5.8M Loan

LAKEWOOD RANCH, FL—Oct. 27, 2008— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $5,800,000 for Handy Storage and Discount Mini-Storage.

Both properties were financed through Thomas D. Wood and Company’s correspondent relationship with StanCorp Mortgage Investors.

Brad Cox, (bottom left photo) Company Vice President, secured financing for Handy Storage in the amount of $3,000,000 and a rate of 6.375%.

The loan term is 20 years, based on a 25-year amortization, with a loan-to-value of 36%. The 90,886 square-foot self-storage facility was built in 1996 and is located at 350 S. University Drive, Pembroke Pines, Florida.

Cox arranged financing for Discount Mini-Storage in the amount of $2,800,000 and a rate of 6.7%.
The loan term is 20 years, based on a 25-year amortization, with a loan-to-value of 70%.
The 55,782 square-foot self-storage facility was built in 1986 and 1999, and is located at 5002 S. Manhattan Avenue, Tampa, Florida. (bottom right site map)

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