Wednesday, December 17, 2008

NAIOP Georgia Names 2008 Award Winners

---Regent Partners, LLC, IDI, VeenendaalCave, Inc. and Don Childress (top right photo) receive awards.

=---Lieutenant General Russel L. Honoré (Ret.) (bottom right photo) delivers keynote speech.

ATLANTA, GA-– The Georgia chapter of the National Association of Industrial and Office Properties (NAIOP) honored three Atlanta real estate firms and one of the community’s leading executives at its 20th Annual Awards Program on December 4.

The event which had over 220 in attendance, was also highlighted by a keynote speech from Lieutenant General Russel L. Honoré (Ret.), best known for his take-charge style leading relief efforts in New Orleans following Hurricane Katrina.

The 2008 recipients of NAIOP awards are:

· Regent Partners, LLC, honored as Office Development Firm of the Year. The firm received recognition for its development of the 3344 Peachtree building in Buckhead, called Sovereign, a 50-story signature tower featuring residences and office space, as well as for its community involvement and participation in NAIOP.

· IDI, recipient of the Industrial Development Firm of the Year award. The company was honored for its sustainable development, including two facilities in Atlanta and Savannah totaling 1.2 million square feet that have been registered to receive LEED® (Leadership in Energy and Environmental Design) certification. The company also was recognized for its commitment to volunteerism, which included its sponsorship and underwriting of two charity golf tournaments that raised more than $200,000 for organizations benefiting children’s health and literacy.

· Don Childress, (top right photo) co-founder and managing partner of Childress Klein Properties, received the Carter/Mathis award, recognizing individuals or firms for contributions to the community. Childress’ volunteer efforts included organizing a capital campaign that raised more than $50 million for the Lovett School and heading a campaign to build a sanctuary for Cumberland Community Church.

· VeenendaalCave, Inc., honored as the Associate Firm of the Year. The interior design and planning firm was recognized for the volunteer efforts of its employees for organizations such as The Study Hall at Emmaus House, Midtown Assistance Center, Kreate 4 Kids and Children’s Healthcare of Atlanta, as well as for its service to NAIOP.

The event also featured a keynote speech from Lieutenant General Russel L. Honoré (Ret.), (bottom right photo) who mixed no-nonsense advice with humorous anecdotes while delivering a message on the importance of disaster preparedness. He is the former 33rd Commanding General of the U.S. Army at Fort Gillem, Georgia.

“It’s important that you take time to prepare your employees, your families and your companies,” he said. He said the country must re-prioritize and move from its current condition of “zero preparedness” to a “culture of preparedness.”

Honoré said the key items needed in every home to prepare for an emergency are: an evacuation pack, a weather radio and a back-up generator. He added that the real estate community must take steps to plan for disasters, suggesting that county planners could help matters by requiring developers to receive certificates verifying that their buildings are equipped with emergency generators.

The event also featured short speeches from students enrolled in programs that receive support from NAIOP: Portia Neal, a student enrolled in YES!Atlanta, an organization that provides programs for at-risk youth, and Willie Thornton and Zharia White, students at the Ron Clark Academy, a school that serves students from a wide range of backgrounds.

Both of these organizations receive support from the proceeds of NAIOP Night, NAIOP’s annual, black-tie fund raiser.

NAIOP also elected its slate of 2009 officers, including new chapter President Lisa Dunavin, (top left photo) senior leasing director at Cushman & Wakefield of Georgia, who replaces outgoing president Jeff Mixson.

The National Association of Industrial and Office Properties (NAIOP) is a professional organization for developers and owner of commercial real estate. Over 16,000 real estate professionals belong to one of the 59 NAIOP chapters located in the United States and Canada.

CONTACT: Lisa Ward, VP- Communications, NAIOP Georgia Chapter, 770 866 1115,

Fidelity National Financial Announces Bankruptcy Court Approval of its Acquisition of Commonwealth Land Title. and Lawyers Title

JACKSONVILLE, FL /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE:FNF) announce that the Chapter 11 Bankruptcy Court has approved its acquisition of LandAmerica Financial Group, Inc.'s ("LFG") two principal title insurance underwriters, Commonwealth Land Title Insurance Company ("Commonwealth") and Lawyers Title Insurance Corporation ("Lawyers").

FNF's purchase remains subject to the expiration of the waiting period under the Hart Scott Rodino application and other closing conditions specified in the amended stock purchase agreement. The waiting period expires at Midnight on Thursday, December 18, 2008 and closing is to occur on or before December 22, 2008.

CONTACT: Daniel Kennedy Murphy, Senior Vice President and Treasurer, Fidelity National Financial, Inc., +1-904-854-8120,

HFF arranges $6.9M construction/mini-permanent loan for San Antonio, TX medical office building

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $6.9 million construction/mini-permanent loan for Shavano Oaks II, (top right photo) a recently completed Class A medical office building in San Antonio, Texas.

HFF director Brian Carlton (middle left photo) worked exclusively on behalf of Oaks Development Group to secure the 48-month loan through Chris Martineau and Cari Robinson in the Dallas office of Mutual of Omaha Bank.

Oaks Development Group is a full-service, medical office development company and general contractor with offices in North Carolina, Texas, Georgia, Massachusetts, Florida and Illinois.

Kerry Angus and Eric Perardi in the Austin office of Oaks Development Group placed the building under contract while it was under construction and began securing leases from a core group of doctor tenants, who are also given ownership in the property.

Approximately 70% of the space was pre-leased at closing and the remaining space will be leased to future medical practices that complement the existing tenants’ businesses.

Oaks Development Group has completed over 50 similar transactions, both as developer and purchaser, throughout the Southeast United States. Messrs, Angus and Perardi have several other projects in Texas under development or nearing the acquisition stage.

Completed in October 2008, the three-story Shavano Oaks II has 34,576 square feet of leasable medical office space.

The property is located at 3603 Paesano’s Parkway off Loop 1604 within close proximity to Interstate Highway 10 and Highway 281 in the Shavano Park area of San Antonio. Finish-out for the four current medical practices is underway with occupancy expected in early 2009.

Brian G. Carlton, HFF Director, (214) 265-0880,
Myra F. Moren, HFF Director, Marketing (713) 852-3500,

Arbor Closes $18M in Fannie Mae Loans on Three Apartment Communities

Marian Gardens in Lynn, MA Gets $8,321,800 Fannie Mae DUS® Loan

UNIONDALE, NY, Dec. 17, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,321,800 loan under the Fannie Mae DUS® product line to finance the 94-unit complex known as Marian Gardens in Lynn, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.42 percent.

The loan was originated by John Kelly, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This transaction demonstrated our ability to deliver excellent financing terms in a very uncertain market,” said Kelly. “We look forward to continuing our financing relationship with this strong Boston-based provider of affordable housing.”

Wheatland Club Apartments in Cedar Rapids, IA Obtains $8,475,000 Fannie Mae DUS® Loan

UNIONDALE, NY, Dec. 17, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,475,000 loan under the Fannie Mae DUS® product line to finance the 144-unit complex known as Wheatland Club Apartments (middle right photo) in Cedar Rapids, IA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.61 percent.

The loan was originated by Michael Jehle (middle left photo) , Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
“Arbor successfully provided low-cost, fixed-rate Fannie Mae financing for the take–out of the construction loan on a recently completed, and now fully stabilized, multifamily property,” said Jehle.

Meadow Estates in Madrid, IA Receives $1,427,600 Fannie Mae DUS® Loan

UNIONDALE, NY, Dec. 17, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,427,600 loan under the Fannie Mae DUS® product line to finance the 85-unit complex known as Meadow Estates in Madrid, IA.

The 10-year loan amortizes on a 25-year schedule and carries a note rate of 6.85 percent.

The loan was originated by Peter Margolin, Director, in Arbor’s full-service Deerfield, IL lending office. “Arbor was pleased to be able to meet the borrower’s financing goals on this multifamily property,” said Margolin.


Ingrid Principe or Bonnie Habyan, Arbor Realty Trust, Inc., Earle Ovington Blvd, Suite 900, Tel: (516) 506-4298 or (516) 506-4615333
Arbor Commercial Mortgage, Uniondale, NY 115531-800-ARBOR-10,

Marcus & Millichap Arranges Two Apartment Sales in Kentucky Totaling $17.4M

The assets set records in both Lexington and Louisville

LOUISVILLE, KY– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of two multi-family communities totaling $17.4 million in Lexington and Louisville.

The 312-unit Pegasus Place Apartments (bottom left map site) in Lexington commanded a price of $13.6 million, representing $43,590 per unit.

The sale marks the highest price per unit for a 1970s-constructed, market-rate apartment property in the Lexington MSA.

In a separate transaction in Louisville, Marcus & Millichap arranged the sale of the 66-unit Worthington Apartments (top right photo) for $3.8 million, representing $57,576 per unit. Constructed in1968, this asset commanded the highest price per unit ever achieved in the apartment market for product developed before 1990 in Louisville.
Aaron Johnson, principal broker of the Louisville office of Marcus & Millichap, represented the both the local and the New Jersey-based sellers, as well as the New York-based buyer, who acquired both properties.

“This transaction proves that there are still tremendous real estate investment opportunities even as the capital markets continue to tighten,” says Johnson.

“Apartment properties offer the most stability out of all the major property sectors to private investors in the current economic climate.”

Located at 2504 Larkin Road, Lexington, the 267,600-square foot Pegasus Place Apartments features one- and two-bedroom units on 14.62 acres. Amenities include a swimming pool, clubhouse, on-site laundry facilities, fitness center, play ground and tennis court.

Pegasus Place sold at a cap rate of a 6.9 percent and assumed an interest-only loan.

Located at 735-737 South Second St., the Worthington Apartments consists of 66 one- and two-bedroom units, just minutes away from downtown Louisville.
Amenities include gated off-street parking, monitored and controlled entry, business center with Internet access and a courtyard. Worthington Apartments sold at a 7.6 percent cap rate.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716