Marcus & Millichap Capital Corp. Arranges $3.5M Loan for San Francisco Mixed-Use Building

SAN FRANCISCO, CA– Marcus & Millichap Capital Corporation, (MMCC), has arranged a $3.5 million adjustable-rate loan for the refinance of a 12,019-square foot multi-family and retail building in San Francisco. (top left photo)

William Craun, an associate director in the San Francisco office, arranged the financing package for the property located at 3650-3664 Sacramento St.

“The borrower was seeking $1 million in cash-out proceeds to purchase another property in San Francisco,” says Craun.

Financing for this transaction was provided by a savings and loan bank at an adjustable rate of 5.95 percent. Terms of the loan are for 10 years. Loan to value was 60 percent.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704, Kathryn.Molitor@marcusmillichap.com

Grubb & Ellis Announces 2 New Execs in Seattle and Denver

Bill Condon Named Managing Director of Seattle Office

SANTA ANA, Calif. (June 29, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Bill Condon (top right photo) has been named managing director of its Seattle office, effective immediately.

In this role, he will split time between managing the company’s commercial real estate services platform in Seattle and continuing to serve his established base of industrial brokerage clients.

“The qualities that have made Bill a successful brokerage sales professional – integrity, leadership and a commitment to client service will serve him well in his new role as managing director of our Seattle office,” said Jack Van Berkel, president, Grubb & Ellis Real Estate Services.

Condon joins Grubb & Ellis from Colliers International where he began his brokerage career in 2003.

Contact: Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com

Patrick G. Lynch, RPA, FMA, is New Senior Director, Corporate Services Group in Denver

DENVER (June 29, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Patrick G. Lynch, (bottom left photo) RPA, FMA, has joined the company as senior director, Corporate Services Group.

In addition to providing real estate solutions to the company’s corporate clients, he will focus on assisting clients with their data center needs.

“Pat has a proven track record of successful real estate and facilities management on a global scale and will play a key role in providing our clients with a superior level of service regarding data center facilities,” said Mark Ballenger, executive vice president and managing director of Grubb & Ellis’ Denver office.

Contact: Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

Marcus & Millichap Sells 2,723-SF Single-Tenant Net-Leased Building in Vidalia, GA

VIDALIA, GA, June 29, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Wendy's, (bottom left photo) a 2,723 square foot single-tenant net-leased property located in Vidalia, Georgia, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,370,000.

John E. (Jay) Brigel, (top right photo) a Senior Associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of both the seller and the buyer, a limited liability company.

John Leonard, Regional Manager of Marcus & Millichap’s Atlanta office, assisted in closing this transaction.

“It’s always a pleasure to deal with quality concepts like Wendy’s and with the quality franchisees that make their product so attractive to the market,”states Brigel.

Wendy's is located at 901 East First Street in Vidalia, Georgia.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

CBRE Orlando Sells Four Apartment Communities Totaling $67.4M

ORLANDO, FL – The Orlando office of CB Richard Ellis is pleased to announce that its Central Florida Multi-Housing Group closed four local apartment properties in June for approximately $67.4 million.

CBRE exclusively represented the seller in all transactions, and has retained its position as the top multi-housing sales team in Orlando with 75% market share thus far in 2009.

The assets sold totaled approximately 700 units, and included two value-add opportunities built in the late 1980s, a newer community built after 2000, and a small low-income tax credit property.

The properties were marketed individually for different owners, and were purchased by three separate buyers. CBRE also has three other apartment projects currently under contract.

For further information, please contact:

Shelton Granade, First Vice President, T 407.839.3103. F 407.404.5001 shelton.granade@cbre.com
http://cbremarketing.com/ve/ZZ85Kr66u86J6599O71/stype=click/OID=70962695931647/VT=0

Luke Wickham, Director of Operations, T 407.839.3130. F 407.404.5001
luke.wickham@cbre.com
http://cbremarketing.com/ve/ZZ85Kr66u86J6599O71/stype=click/OID=60962695931847/VT=0

CBRE Orlando Releases 2Q Industrial and Office Reports

ORLANDO, FL--CB Richard Ellis has released its second quarter 2008 Orlando MarketView Reports on the industrial and office sectors. Highlights include:

Industrial

--The Institute for Supply Management's manufacturing index was up in May, rising to 42.8 percent, a reading that still indicates a deep contraction in the manufacturing sector, but a welcome increase over the 40.1 percent reported during April.

--A drop in the employment index suggests manufacturing payrolls will continue to decline in the coming months.

--A forecast from the University of Central Florida's Institute for Economic Competitiveness for 2009-2012 shows manufacturing jobs in Orange, Seminole, Osceola and Lake counties are expected to drop from 39,900 jobs to 36,300 by the end of second quarter 2010.

Office

--As vacancy rates skyrocket and sublease space cannibalizes the market, landlords are increasingly desperate to reduce risk by extending lease terms in exchange for months of free rent, competitive tenant improvement allowances, and other rent concessions.

--Lease rates have not been this low since $20.65 in the third quarter of 2006. Class A space in the Downtown submarket continues to command the highest lease rate of $27.69, a decrease of $0.70 from the previous quarter.

--The Downtown submarket experienced negative 102,296 sq. ft. or 37.1 percent of net absorption experienced in Orlando.

For a complete copy of both reports, please contact Angelique Greven, angelique.greven@cbre.com

Behringer Harvard Appoints Real Estate Industry Veteran to Its Opportunity REIT II Board

DALLAS, TX, June 29, 2009 /PRNewswire/ -- Behringer Harvard announced today that real estate industry veteran Diane S. Detering-Paddison (top right photo) has been appointed as an independent director on the board of directors of Behringer Harvard Opportunity REIT II, Inc.

"We're pleased to welcome Diane to our Opportunity REIT II board," said Robert S. Aisner, (bottom left photo) CEO of Behringer Harvard Opportunity REIT II, Inc. "She brings to this role more than two decades of experience with several prestigious giants in the commercial real estate industry.

"Her expertise will be instrumental in guiding our opportunity-style REIT through the completion of its acquisition phase and beyond."

Paddison served from June 2008 to January 2009 as chief operating officer of Denver-based ProLogis (NYSE:PLD), a Fortune 500 company that owns, manages and develops distribution facilities and has more than $32 billion in real estate assets under management.

CONTACTS:

Katie Myers of Richards Partners, +1-214-891-5842, katie_myers@richards.com,

for Behringer Harvard; or

Jason Mattox, Chief Administrative Officer, 1-866-655-3600, jmattox@behringerharvard.com,

or

Barbara Marler, +1-469-341-2312, bmarler@behringerharvard.com,

both of Behringer Harvard

Web Site: http://www.bhfunds.com/

Round Table: Institutional Lenders, Capital Partners Have Upper Hand in Commercial Real Estate Development and Investment

ORLANDO, FL--- Institutional investors and capital partners will play an increasingly dominant role in commercial real estate development projects, according to participants in the U.S. Real Estate Opportunity and Private Fund Investing Forum held recently in New York City.

George Livingston, (top right photo) chairman emeritus of NAI Realvest in Maitland, attended the exclusive gathering of lenders, investors and developers sponsored by the Information Management Network.

“Capital partners will control much of the decision-making in commercial real estate projects,” Livingston said. “Capital is hard to come by for large-scale projects, and most industry insiders expect that capital partners will have an increasingly powerful say in even minor decisions,” he said.

Developers – operating partners with the expertise to make big projects happen on time and on budget – will have to settle for a smaller slice of the pie in the end, Livingston added.

“Investors are demanding less risk, lower developer fees, and a bigger share of the profits,” Livingston said.

“They are more likely to back developers who invest substantially in their projects, have a sound track record and are willing to make a long-term commitment to the project,” Livingston added.

Livingston said that’s good news and bad news for commercial development.

“We can expect to see less commercial development and less innovation,” Livingston said. “Capital partners will tend to favor proven strategies in primary markets that will generate immediate cash flow and – to the extent it is possible to project – sure rewards,” Livingston said.

CONTACTS:

George Livingston, Chairman Emeritus, NAI Realvest, 407-875-9989 glivingston@realvest.com;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com;

Emerson International in Altamonte Springs to take part in Anniversary events to honor U.K. based The Emerson Group

ALTAMONTE SPRINGS, FL --- The Emerson Group, a global corporation based in the U.K. and serves as parent company to Emerson International, Inc., in Altamonte Springs, is celebrating its 50th anniversary this year with festivities and events scheduled.

Eric J. Emerson, (top right photo) vice president and general manager of Emerson International, said The Emerson Group is one of the largest privately-owned property development companies in the U.K.

“Emerson International, one of the three principal divisions of The Emerson Group,” develops residential and commercial properties in the U.S. and internationally,” Emerson explained.

Emerson International’s Central Florida projects include Eagle Creek off Narcoossee Rd. in southeast Orlando, Emerson Pointe, adjacent to Bayhill in southwest Orlando; Emerson Plaza and CenterPointe on the Park in Altamonte Springs.


CONTACTS:
Eric J. Emerson, Vice President and General Manager, Emerson International, Inc. , 407-834-9560; ejemerson@emerson-us.com;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Foster Conant completes landscape for The First Academy in Orlando, FL

ORLANDO, FL— Foster Conant & Associates recently completed its contract for site-specific landscape architecture for The First Academy Middle-Upper School in Orlando, Fla.

Under its scope of services with the owner, Foster Conant provided design, construction documents and construction observation for landscape, irrigation, hardscape for commemorative plazas, and a parking lot.

The landscape architects seamlessly integrated approximately 4.5-acres surrounding the new two-story, 80,000-square-foot classroom building into the existing campus.


According to Foster Conant Principal René A. Ramos, RLA several noted specimens were specified in the design including large Drake Elm trees in planters on the main plaza at the entryway, and seven 200-gallon Magnolias planted along the building’s perimeter to complement the character of the architecture.

Architecture for the project was provided by Royal Architecture & Design of West Palm Beach, Fla. Tipton Associates Inc. of Orlando, Fla., provided civil engineering.

Celebrating 40 years in business, Foster Conant & Associates is an award-winning, site-specific landscape architectural firm that practices throughout the U.S. and abroad.


Public and private clients afford the firm a varied portfolio of expertise that includes hotels, resorts and themed entertainment complexes, timeshare resorts, airports, large-scale residential land developments, mixed-use complexes, office buildings, business parks and apartment complexes.

Headquartered in Orlando, Fla., the 12-person firm is managed by principals Richard R. “Rick” Conant, (top right photo) FASLA, Keith Oropeza, ASLA, René A. Ramos, RLA and John P. Sullivan, III, ASLA. For an extensive presentation of projects, please visit http://www.fosterconant.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

Ardaman & Associates picks up new water authority contract

ORLANDO, FL — Ardaman & Associates Inc. was one of three firms recently selected for continuing services contracts by the board of supervisors for the Tohopekaliga Water Authority.

Under its scope of services, Ardaman is providing the Authority with geotechnical and environmental engineering, and materials testing and evaluation services on an indefinite duration, indefinite quantity continuing contract.

Services for this contract will be performed by Ardaman’s Orlando office. The Authority has not determined the amount of the contract.

Nordarse & Associates and Geotechnical and Environmental Consultants Inc., both located in Central Florida, were also selected for contracts.

Ardaman & Associates Inc. is an engineering practice providing geotechnical, environmental, water resources and facilities engineering, and construction materials testing to public, industrial and private clients worldwide.

Headquartered in Orlando, Fla., the Company has additional offices in Bartow, Cocoa, Fort Myers, Miami, Port St. Lucie, Sarasota, Tallahassee, Tampa, and West Palm Beach, Fla., and in New Orleans, Baton Rouge, Shreveport, Monroe and Alexandria, La. Established in 1959, Ardaman employs a professional, support and field staff of 485.

Please visit http://www.ardaman.com/ for more details about services and experience.

The Tohopekaliga Water Authority, established in 2003 by the Florida legislature, is the largest provider of water, wastewater and reclaimed water services in Osceola County, Florida.

The Authority owns and operates 20 water plants and 10 wastewater plants, and treats and distributes 35 million gallons of potable water and reclaims 21 million gallons of wastewater each day.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

NAI Realvest Completes $1M Sale of 10,723 SF former Whistle Junction Restaurant in St. Cloud, FL

ORLANDO, FL -- NAI Realvest recently completed the $1 million sale of the 10,723 square foot Whistle Junction restaurant facility located at 4551 13th St.
in St. Cloud.

Paul P. Partyka, (top right photo) principal and managing partner at NAI Realvest, who represented the seller Sovereign Investment Company of Palo Alto, Calif., said the property was purchased by Melbourne-based Sooner Investment.

Partyka said this is the second former Whistle Junction restaurant sale handled by NAI Realvest.

CONTACTS:

Paul P. Partyka, Managing Partner/Principal NAI Realvest, 407-875-9989, ppartyka@realvest.com;
Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Baymont Brand Opens First Hotel Outside the U.S. in Canada

PARSIPPANY, NJ– At a time when news reports are focused on the challenging economic climate, the Baymont brand, one of North America’s fastest growing hotel chains known for its hometown hospitality, continues to grow to meet consumer demand with the opening of its first hotel outside of the U.S.: the 59-room Baymont Inn & Suites® by the Falls hotel in Niagara Falls, Ontario.

Owned and operated by PHI Properties Inc., the recently renovated hotel marks a significant achievement in the growth of the Baymont brand, which, since joining the Wyndham Hotel Group family in 2006, has almost doubled the size of its portfolio to more than 225 hotels.

“With so many loyal Baymont consumers located just across the border, we’ve been focused on finding the right opportunity for the brand to enter the Canadian market,” said Patrick Breen, Baymont Inn & Suites brand senior vice president.

“Given its outstanding location and exceptional staff, the Baymont Inn & Suites by the Falls hotel was the ideal choice. As we grow and expand the brand throughout Canada we will continue to seek hotels of a similar quality and character.”

CONTACT:
Christine Da Silva, +1 (973) 753-6590
chris.dasilva@wyndhamworldwide.com

IHR Opens Lancaster County Convention Center and Lancaster Marriott at Penn Square in Pennsylvania

ARLINGTON, VA—Interstate Hotels & Resorts (OTC: IHRI), a leading hotel real estate investor and the nation’s largest independent management company, has opened the 299-room, full-service integrated Lancaster Marriott at Penn Square (bottom left photo) and Lancaster County Convention Center, (top right photo) comprising a combined 90,000 square feet of meeting space.

Interstate has been actively involved in the development of the project for more than a decade, including feasibility, construction oversight and devising marketing strategies to maximize the overall economic benefit for Lancaster County.

The $177-million hotel and convention center project is a joint venture of the Redevelopment Authority of the City of Lancaster, Lancaster County Convention Center Authority and private developer Penn Square Partners. Interstate operates both parts of the integrated facility.

“Lancaster County, with its rich history, old-world charm and unique tradition, is a major regional travel destination, and this all-new upscale hotel and convention center offers a compelling lodging alternative for both business and leisure travelers,” said Thomas F. Hewitt, (middle left photo) Interstate chairman and chief executive officer.

“With its central Pennsylvania location and more than 90,000 square feet of combined meeting space that can accommodate groups of up to 5,000, this state-of-the-art facility offers a convenient and affordable option for meeting planners throughout the Northeast.

" It also will be a magnet for the millions of visitors who come to enjoy the natural beauty and amenities of the Pennsylvania Dutch countryside.”

“Interstate’s proven track record with convention centers and hotels, along with its size advantage, in-depth knowledge of the region, and experience and relationship with Marriott made them a very compelling choice for our hotel management company selection," said Nevin Cooley, (middle right photo) chief executive officer of Penn Square General Corp.

“As the facility fully ramps up, it is expected to create 200 to 300 new jobs and attract more than 150,000 new visitors to Lancaster annually.”

Located at 25 South Queen Street in historic Penn Square, the combined facility features a unique architectural blend of the old and the new in an adaptive reuse of an historic landmark.

The 19-story Lancaster Marriott at Penn Square incorporates the 19th-century Beaux Arts façade of the landmark Watt & Shand department store and features a breathtaking lobby highlighted by grand cathedral ceilings and mahogany paneling.

All 299 guest rooms feature stunning views of downtown Lancaster, as well as 37-inch LCD high-def televisions and the industry’s only digital “plug & play” system that connects laptops to TVs.

The integrated facility features a spacious 46,500-square-foot exhibition space; 9,000 square-foot ballroom; and numerous smaller, finely appointed meeting spaces.

Wireless connectivity is available throughout the facility. Other hotel amenities include two on-site business centers; a fine dining restaurant/lounge with 100-seat dining room and private dining; lobby bar; indoor swimming pool and whirlpool tub; exercise room; and two spa treatment rooms.

“This represents one of the 16 management contracts we have signed for properties under development or construction,” said Leslie Ng, chief investment officer. “Our pipeline remains quite active as we continue to focus on expanding our third-party management contract business.”

CONTACTS:

Julie Tullbane, Daly Gray Public Relations, T 703-435-6293. F 703-435-6297, julie@dalygray.com

http://twitter.com/dalygray

Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320

Tremont Structures $4,749,500 Bedford Office Financing

BOSTON, MA--The Boston office of Tremont Realty Capital arranged financing for the refinance of 54 Middlesex Turnpike,(top right photo) a two story, 42,500 square foot, multi-tenant office building and separate 8,068 square foot daycare center located on 6.7 acres in Bedford, MA.

David Ross, (bottom left photo) a Managing Director with Tremont, arranged the $4,749,500 loan, which was funded through a local bank.

The 20 year loan provided for roughly 70% loan-to-value with a 5.75% interest rate. The property is located near Routes 95 and 3.

According to Ross, “The owners had just completed the addition of a free-standing, 8,000 square foot daycare center at the property. They had financed the new improvements out of pocket and were looking for a new permanent loan to refinance the existing loan, in order to recoup some of their recent investment into the daycare center.

"While the daycare center was a start-up, the location was terrific and the office history and rent roll were compelling.”

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 Boston office of Tremont Realty Capital is located at 800 Boylston Street, 45th Floor, Boston, MA 02199.

CONTACTS:

David Ross, 617.867.0700 x773

Aimee Munsey, Senior Associate, Marketing & Communications, Tremont Realty Capital

p: 617.867.0700 x784. f: 617.867.0077.
amunsey@tremontcapital.com
http://www.tremontcapital.com/

Jones Lang LaSalle Expands Orange County, CA Operations

IRVINE, CA – Jones Lang LaSalle has relocated and expanded its Orange County operations by combining its Irvine and Newport Beach operations in a new full-service, regional office located at 4 Park Plaza (bottom left photo) in Irvine, California.

The expanded office will be multi-functional and will house 20 executives with expertise in tenant representation, agency leasing, capital markets, and project and development services.

“It was important for us to have our entire Orange County team in one location so that all our teams – across all business lines – can collaborate more effectively on behalf of our clients,” said Leland Bruce, (top right photo) Senior Managing Director for Jones Lang LaSalle’s Irvine office.

“We are now better positioned to satisfy the needs of our growing client base in Orange County.”

With a property and facilities management portfolio of 43.4 million square feet, Jones Lang LaSalle employs more than 700 professionals in Southern California’s six offices in the region, including Los Angeles Downtown, Los Angeles West, Los Angeles North, South Bay, Orange County and San Diego.

CONTACT: David Ebeling, Ebeling Communications, 949.278.7851, david@ebelingcomm.com

HFF arranges $25M in financing for Longwood, FL multifamily properties

CHICAGO, IL – The Chicago and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) have arranged nearly $25 million in financing for Golf Brook (bottom left photo) and Sabal Park Apartments,(top right photo) two multifamily communities totaling 357 units in Longwood, Florida.

HFF directors Matthew Schoenfeldt (bottom right photo) and Elliott Throne (bottom left photo) worked on behalf of NTS Development Company to secure the floating-rate loans through Freddie Mac’s “capped ARM” financing program.

A $14.63 million loan was arranged for Golf Brook and a $9.6 million loan was secured for Sabal Park. Both loans will be serviced by HFF.

NTS Development Company is a full-service, diversified real estate company with a portfolio of apartment homes, residential communities and commercial properties located in Kentucky, Indiana, Tennessee, Virginia, Georgia and Florida.

Located at 385 Golf Brook Circle (Gold Brook Apartments) and 32 Sabal Park Place (Sabal Park Apartments), both communities are easily accessible from State Route 434 and Interstate 4 approximately 13 miles from downtown Orlando in Longwood.

Golf Brook Apartments has 195 units averaging 1,538 square feet each and is currently 92.3 percent leased. The 90.7 percent occupied Sabal Park Apartments offers 162 units averaging 1,497 square feet each. Both communities feature fitness centers, swimming pools, hot tubs and car wash facilities for residents.

“Despite the tightening lending conditions, a quality multifamily product with superior sponsorship will still be able to find financing,” said Schoenfeldt.

HFF (NYSE: HF) operates out of 17 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, loan sales and commercial loan servicing.

CONTACTS:

Matthew R. Schoenfeldt, HFF Director, (312) 528-3650, mschoenfeldt@hfflp.com

Elliott P. Throne, HFF Director, (305) 448-1333, ethrone@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

http://www.hfflp.com/

HFF closes sale of New Jersey self-storage facilities

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of two United Stor-All self-storage facilities in Parsippany and Fairfield, New Jersey.

HFF senior managing director Aaron Swerdlin (top left photo), managing director Doug McCarron (top right photo) and associate director Michael Klein (bottom right photo) led the investment sales team exclusively on behalf of the seller, a joint venture between United Stor-All and the Fidelity Real Estate Group.

An unrelated third party purchased both properties for an undisclosed price.

Completed in 2004, the two United Stor-All properties total approximately 1,406 units in 139,850 square feet and feature climate-controlled space, individual unit alarms and digital camera security monitoring.

“The self-storage asset class has held up extremely well in the current environment relative to operations and value constancy, especially when compared to the broader investment real estate market.

"High quality assets such as these are well-positioned to continue to outperform as the capital markets and the US economy stabilizes,” said Swerdlin.

Fidelity Real Estate Group pursues value-added real estate investment opportunities throughout the U.S. on a fully discretionary basis for its managed funds.

Fidelity Real Estate Group is a division of Pyramis Global Advisors, which is a wholly owned subsidiary of Fidelity Investments.

Fidelity Real Estate Group manages in excess of $1.1 billion on behalf of institutional and individual clients.

United Stor-All is a national self storage developer, operator and property manager.

United Stor-All has developed in excess of 40 self-storage facilities in the past 10 years and currently manages a portfolio of approximately 90 self-storage facilities for its own account and on behalf of third party clients.

Contacts:

Aaron A. Swerdlin, HFF Senior Managing Director, (713) 852-3500, aswerdlin@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500, krmurphy@hfflp.com

HFF secures $17M financing for Philadelphia, PA retail center

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $17 million in financing for Columbus Crossing, (top left photo) a 142,166-square-foot, grocery-anchored shopping center in Philadelphia, Pennsylvania.

Working exclusively on behalf of Cedar Shopping Centers, Inc., HFF managing director Jim Cadranell (middle right photo) and director John Taylor arranged the five-year, 6.75 percent fixed-rate loan with Susquehanna Bank.

Cedar Shopping Centers, Inc. is a publicly-traded, self-managed real estate investment trust focused on the development and ownership of grocery-anchored and convenience shopping centers primarily in the northeast United States.

Columbus Crossing is located at 1851 South Christopher Columbus Boulevard close to Interstate 95 and Penn’s Landing along the Delaware River waterfront.

The 11.33-acre site is shadow-anchored by Home Depot and Walmart. Currently 97 percent leased, the property’s tenants include SuperFresh, Old Navy, A.C. Moore, Famous Footwear, Bath & Body Works and Lane Bryant.

“This is a good example of the availability of capital to quality real estate and borrowers,” said Cadranell.

Susquehanna Bank provides retail and commercial banking services, with more than 235 branches in the Mid-Atlantic region. It is a subsidiary of Susquehanna Bancshares, Inc. (Nasdaq: SUSQ), a financial services holding company with assets of approximately $14 billion. http://www.susquehanna.net/.

CONTACTS:

James A. Cadranell, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com

John N. Taylor, HFF Director, (973) 549-2000, jtaylor@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

CB Richard Ellis Broker Margo Thomas Secures Five-Year Lease for Party Land

ORLANDO, FL--The Orlando office of CB Richard Ellis is pleased to announce Margo Thomas, (t0p right photo) Senior Retail Specialist, has secured a five-year lease transaction on 2,835-sq.-ft. for Party Land, retail seller of paper, stationery, gifts and party goods.

The space in Red Willa Plaza is located at the Northeast corner of Red Bug Lake and Tuskawilla Roads in Winter Springs, Florida. The renovation of the center, which is anchored by Carrabba's and Lifestyle Family Fitness, is in its final stage. Heather Lannon of Stiles Realty Co. represented the landlord, GRE Red Willa, LLC.


Contact: Angelique Greven, 407.839.3158, angelique.greven@cbre.com

New Faces and New Assignments at Grubb & Ellis

Mano E. Leventakis Promoted to Executive Vice President, Managing Director of Inland Empire

SANTA ANA, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Mano E. Leventakis (top right photo) to executive vice president, managing director, of the company’s Inland Empire offices, effective immediately.

“Mano is a consummate professional. His commitment to building a cohesive team of real estate services professionals who put client service first has led to the growth and success of our Inland Empire operations,” said Kurt Strasmann, executive vice president and managing director of Grubb & Ellis’ Orange County operations. “This promotion is well-deserved.”

Leventakis joined Grubb & Ellis in 1993 as an associate and has since been promoted five times.

Walker, McNutt, Read Move Up as New Executive Vice Presidents

NEWPORT BEACH, CA-- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Dixie Walker (top left photo), Jack McNutt and Jeff Read to executive vice president.

“Dixie, Jack and Jeff’s consistently high performance and commitment to superior client service set the standard for professionals throughout our company and the entire industry,” said Jack Van Berkel, (middle right photo) chief operating officer of Grubb & Ellis and president, Real Estate Services. “We are very proud of what they have achieved and couldn’t be more pleased to have them on our team.”

Walker specializes in the sale of retail investment properties, including market/drug, community and specialty retail centers. He has completed retail transactions totaling in excess of more than 15 million square feet with a value of more than of $2 billion.

With more than 25 years of commercial real estate experience, McNutt primarily specializes in tenant representation in the office sector. He joined Grubb & Ellis in 1986 and is a member of the company’s President’s Council.

With a focus on the industrial sector, Read specializes in acquisitions, dispositions and lease transactions, as well as development and investment analysis. He began his career with Grubb & Ellis in 1989. Read was the top overall producer for the company’s north Orange County region in 1995, 2000 – 2004, 2006 and 2007. His sales production placed him in the top 10 agents nationally for Grubb & Ellis in 2001, 2002 and 2007.

Contact: Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

Chris Doerr is New Vice President, Investment Group for Metro Washington, DC

WASHINGTON, D.C.– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Christopher Doerr has joined the company as vice president, Investment Group, effective immediately. Doerr will focus on on multifamily investment properties in the Washington, D.C., metropolitan area.

“Having been a real estate attorney, broker, acquisitions manager and institutional fund director, Chris’ diverse experience enables us to provide solutions for all types of clients, many of whom we haven’t been able to serve in the past,” said Keith Lipton, executive vice president and managing director of Grubb & Ellis’ Washington, D.C.-area offices. “Since Washington, D.C., has one of the most attractive multifamily markets in the country, his hire greatly enhances Grubb & Ellis’ services for investors on both the local and national levels.”

Contact: Erin Mays, 312.698.6735, erin.mays@grubb-ellis.com

Tim Harrington and Victor Frandsen Earn Executive Vice President Posts
DENVER, CO-- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Tim Harrington and Victor Frandsen to executive vice president.

“Tim and Victor’s consistently high performance and commitment to superior client service set the standard for professionals throughout our company and the entire industry,” said Jack Van Berkel, chief operating officer of Grubb & Ellis and president, Real Estate Services. “We are very proud of what they have achieved and couldn’t be more pleased to have them on our team.”


Hovivian, Smart, Ross, Plummer Promoted to Executive Vice President

LOS ANGELES, CA Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has promoted Clayton Hovivian, Jeff Smart, Michael Ross (bottom left photo) and Richard Plummer to executive vice president, Transaction Services.

“Each of these professionals has made a substantially positive impact to our Los Angeles operations and will continue to be a key part of our growth over the next several years,” said Chuck Hunt, executive managing director of Grubb & Ellis’ Los Angeles operations.

Sperry Van Ness/Guardian Launches Marketmaker Western Regional Commercial Real Estate Auction July 30 in Los Angeles

LOS ANGELES, CA– Sperry Van Ness/Guardian has announced the MarketMaker Western Regional Commercial Property Auction to be held July 30 at 2 p.m. at the Hyatt Regency Century Plaza in Los Angeles.

To accelerate sales for the region’s most motivated sellers of commercial properties, the company launched MarketMaker a new distressed real estate liquidation platform.

With more than 50 years of combined auction experience, Sperry Van Ness has sold more than 20,000 properties located across 46 states as well as Mexico, Puerto Rico and the Virgin Islands. Auction information can be found at http://www.svnmarketmaker.com/.

A summary of the participating property listings include:

· Dozens of individual commercial properties located in six western states
· In excess of $100 million in assets are aggregated (and growing).
· Properties are REO, bank ordered sale or developer close outs.
· Auction inventory is pre-qualified as “motivated sellers” only.
· Properties will be sold at up to 90 percent off the original loan balance.
· Each listing will have a qualified, local Sperry Van Ness listing advisor to improve due diligence efficiency.

Property listings are welcomed before June 30, subject to our pre-qualification criteria. The brokerage community is encouraged to participate in the auction as the site provides SHARElink, a proprietary website tool that allows agents to securely register clients and collect a cooperative fee. This on-line protection feature is unique to MarketMaker and is a first in the auction industry.

“Our team has spent the last several months filtering through hundreds of properties to identify the most sellable assets for this auction,” said Karlin Conklin, Chief Operating Officer of Sperry Van Ness/Guardian.

“With our solution, prospective investors will work directly with a local Sperry Van Ness advisor who has both property and market knowledge - ensuring a smooth due diligence process and timely closing. But ultimately, investors decide the value and the final price of this inventory.”

“Our site will serve as a distressed property marketplace. Real estate professionals and investors will have direct access to our auction and REO listings. MarketMaker will also serve as a secure platform for handling note sales for our

Contact: David Ebeling, Ebeling Communications, (949) 278-7851 david@ebelingcomm.com

Arbor Closes 6 Loans totaling $63M

Maple Grove Apartments in Boise, ID Gets $1.25M Loan

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,250,000 loan under the Fannie Mae DUS® Small Loan product line for the 44-unit complex known as Maple Grove Apartments in Boise, ID.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.50 percent.

The loan was originated by Jon Red, Director, in Arbor’s full-service Spokane, WA lending office. “The borrower was seeking a low, long-term fixed-rate loan on a very conservatively leveraged property,” said Red. “Arbor funded the transaction in 60 days with a very competitive rate of 5.50% for 10 yrs.

Two Las Vegas Properties Receive Total $47,493,000

UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $47,493,000 under the Fannie Mae DUS® MBS product line. These loans include:

La Villa Estates, Las Vegas, NV (middle left photo) – A 336-unit complex in the amount of $23,500,000 funded under the Fannie Mae DUS® MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.46 percent.

San Tropez Apartments, Las Vegas, NV – A 336-unit complex in the amount of $23,993,000 funded under the Fannie Mae DUS® MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.99 percent.

The loans were originated at Arbor’s Uniondale, NY headquarters.

Parkside Apartments in Carmichael, CA Obtains $935,000

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $935,000 loan under the Fannie Mae DUS® Small Loan product line for the 17-unit complex known as Parkside Apartments in Carmichael, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.72 percent.

The loan was originated by Peter Margolin, (middle right photo) Director, in Arbor’s full-service Northbrook, IL lending office. “The borrower needed to refinance out his existing debt after acquiring the property and putting in capital to improve the asset,” said Margolin. “Arbor provided a long-term debt solution that satisfied the borrower’s needs.”

Harbor Green Apartments in Wilmington, CA Receives $11.15M

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,150,000 loan under the Fannie Mae DUS® MBS Loan product line for the 204-unit property known as Harbor Green Apartments in Wilmington, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.66 percent.

The loan was originated by Greg Gillam, Director, in Arbor’s full-service Manhattan Beach, CA lending office.

Treeview Manor in Philadelphia, PA Gets $2.4M

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,400,000 loan under the Fannie Mae DUS® Loan product line for the 68-unit property known as Treeview Manor in Philadelphia, PA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.72 percent.

The loan was originated by Stephen York, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.

“The sponsor’s loan was nearing maturity and he was looking for a lender that was comfortable providing sizeable cash out with a low long term fixed rate,” said York.

“Arbor was able to provide him with terms that exceeded his expectations; we look forward to future opportunities with this client.”

Contact: Ingrid Principe, P: 516.506.4298 F: 516.542.2555

IPrincipe@arbor.com

http://www.arbor.com/