Monday, November 30, 2009

NASCAR Driver Mike Skinner Reduces asking Price for Luxury Estate Home at Spruce Creek Fly-In

ORLANDO, Fla. --- Stirling Sotheby’s International Realty, which ranks as one of Central Florida’s largest and most active realty companies specializing in luxury homes, has reduced the sale price for a luxury estate home at Spruce Creek Fly-In, the unique Volusia County community developed for affluent airplane owners.

The property, located at 3118 Spruce Creek Blvd., is offered for sale by NASCAR driver Mike Skinner. (top right photo)

Stirling Sotheby’s International recently sold the 11,000 square foot Commercial Aviation Hangar owned by Skinner in the estate, said Roger Soderstrom, founder and owner of the realty firm.

Stirling Sotheby’s International Realty associates Rachel McGrath and Debbie Keilin negotiated the $300,000 price reduction from $2,275,000 to $1,975,000.

For more information, contact:
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-588-1260
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

RealtyTrac Partners with for Foreclosure Property Access

DENVER, CO – Homebuyers looking for the right home at a great price will now be able to search through more than a million foreclosed properties and access agents specializing in short sales and foreclosures, all in one location.

RE/MAX International, Inc. is the first national real estate franchise to offer U.S. foreclosure listings on its highly-trafficked web site, visitors can now access more than 1.3 million Real Estate Owned (REO) properties in the U.S. through RealtyTrac.

“We strive to provide consumers with the most information, properties, videos, articles and resources to help them navigate today’s market,” said Kristi Graning, (top left photo) Senior Vice President, Information Technology and eBusiness for RE/MAX International. “ is now the perfect combination of resources on one web site, where visitors can search for foreclosures and connect with a uniquely trained RE/MAX agent who specializes in short sales, REOs and foreclosures.”

Homebuyers across the country, including those looking to take advantage of the recently enhanced Homebuyer Tax Credit, can search foreclosures by accessing the foreclosure tab in the featured property search box on

Sourced by government agencies and national news media, RealtyTrac is the No. 1 foreclosure listing service. It collects extensive foreclosure data from more than 2,200 counties, covering more than 90 percent of U.S. households.

As part of the partnership, RE/MAX agents also have access to an advanced subscription of RealtyTrac’s service and foreclosure information which allows them to better serve clients. The comprehensive subscription offers agents more detailed information including properties in default and properties scheduled for public foreclosure auction, along with tax assessment information, comprehensive lien and loan history and neighborhood home sale trends.

“We are very pleased to be working with RE/MAX, one of the world’s leading real estate brands, and we’re excited to give consumers another way to access foreclosure data,” said Rick Sharga, (middle right photo)  Senior Vice President for RealtyTrac.

“We believe we can have a positive impact on the national housing market by providing consumers with vital foreclosure information and giving homebuyers an opportunity to find the perfect home with the right agent.”

RE/MAX agents are uniquely qualified to manage foreclosures and distressed property. More RE/MAX Associates have earned the Certified Distressed Property Expert® (CDPE) designation than agents from any other national real estate network. The CDPE training, through the Distressed Property Institute, gives RE/MAX agents the expertise to assist buyers and sellers of REO and distressed properties.

For more information on RE/MAX International, or to search for property listings, visit
For more information on RealtyTrac, visit
Contact: Tammy Chan , Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682,

20 Worst Restaurant Foods in America Revealed

Authors of the Bestselling Book Series “Eat This, Not That!” Unveil List of Worst Caloric Offenders at Fast Food and Restaurant Chains

NEW YORK--(BUSINESS WIRE)--Today, Eat This, Not That! authors David Zinczenko and Matt Goulding (top right photo)  revealed the first-ever “Worst Restaurant Foods in America,” as featured in the new book Eat This, Not That! Restaurant Survival Guide, in stores now.

The list ranks the nation’s worst nutritional offenders at major fast food and restaurant chains across the country, while offering healthier alternatives at each establishment. Eat This, Not That! Restaurant Survival Guide is the sixth installment in the popular book series, which currently has five million copies in print.

The authors spent months analyzing menus, nutrition labels, and ingredients lists at the most popular chain and fast food restaurants in order to identify the “Worst Restaurant Foods in America.” Zinczenko and Goulding start by evaluating calorie counts, but also take into consideration a cluster of other nutritional markers: fat, saturated fat, sodium levels and added sugar.

As the authors release more “Worst Foods” lists, caloric offenders have been dropped from menus. Among them: Chili’s Awesome Blossom (2,710 calories) and Baskin-Robbins’ Heath Bar Shake (2,310 calories).

Topping the 2009 Restaurant list is the Outback Steakhouse Chocolate Thunder Down Under, which contains more calories than 44 McDonald’s Chicken McNuggets and an astounding four and a half days’ worth of saturated fat.

Among the list of the Top 20 Worst Restaurant Foods of 2009:

Worst Sit-Down Burger: Applebee’s Quesadilla Burger (1,820 calories, 46 g fat)

Worst Wrap: T.G.I. Friday’s BBQ Chicken Wrap (1,720 calories)

Worst Pizza: Sbarro Stuffed Pepperoni (1 slice, 960 calories, 42 g fat)

Worst Sit-Down Kids’ Meal: Cheesecake Factory Kids’ Pasta with Alfredo Sauce (1,803 calories, 86 g saturated fat)

Worst Omelet: IHOP Colorado Omelet (1,890 calories, 47 g saturated fat)

Worst Restaurant Food in America of 2009: Outback Steakhouse Chocolate Thunder from Down Under

2,020 calories

88 g saturated fat

161 g carbohydrates

To see the full list of 20 foods by category with nutritional information for each item, visit:

For more information on this essential guidebook for navigating American fast food and restaurant chains, visit:

DAVID ZINCZENKO, Editor-in-Chief of Men’s Health magazine and the Editorial Director of Women’s Health, as well as the author of New York Times bestsellers The Abs Diet and The Abs Diet for Women.

Once an overweight child, Zinczenko has become one of the nation’s leading experts on health and fitness. He is a regular contributor to the Today show and has appeared on Oprah, Good Morning America, Primetime Live, 20/20, The Rachael Ray Show, and The Ellen DeGeneres Show.

MATT GOULDING is a contributing food editor for Men’s Health. He has cooked and eaten his way around the world, touching down in New York, New York, where he divides most of his time between keyboard and stovetop.

Contacts:  Rodale, Agnes Hansdorfer, 212-257-1505, Asst. Director of Public

Wednesday, November 25, 2009

Home Prices Show Sustained Improvement through the Third Quarter of 2009, According to the S&P/Case-Shiller Home Price Indices

NEW YORK, NY – Data through September 2009, released  by Standard & Poor’s
for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index improved in the third quarter of 2009, posting its second consecutive quarterly increase and further improvement in its annual rate of return.

 The S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, recorded an 8.9% decline in the third quarter of 2009 versus the third quarter of 2008. This is a marked improvement over the 14.7% decline in the annual rate of return reported in the second quarter of 2009, and the 19.0% drop in the first quarter.

The 10-City and 20-City Composites recorded annual declines of 8.5% and 9.4%, respectively. These two indices, which are reported at a monthly frequency, have generally seen improvements in their annual rates of return every month since the beginning of the year.

“We have seen broad improvement in home prices for most of the past six months,” says David M. Blitzer, (top right photo)  Chairman of the Index Committee at Standard & Poor’s.

“However, the gains in the most recent month are more modest than during the seasonally strong summer months. Fewer cities saw month to month improvements in September than in August in both seasonally adjusted and unadjusted figures.

Nationally, the U.S. National Composite rose by 3.1% in both the 2nd and 3rd quarters of 2009. Both the
10-City and 20-City Composites posted their fifth consecutive monthly increase with September’s report.

Earlier some analysts voiced concern that the end of the first-time home buyer program would result in a drop in activity. While housing starts did slip in October, the federal government recently extended and expanded the first-time homebuyer tax credit.”

 As of the 3rd quarter of 2009, average home prices across the United States are at similar levels to what they were in autumn 2003. The 3rd quarter values show improvement over the previous two quarters of 2009 and have risen well off their recent bottom.

The 10-City and 20-City Composites continue to show monthly improvement in their annual return figures. Both composites emerged from double-digit annual declines with September’s report, the first time in 21 months.

 In addition, 19 of the 20 metro areas saw improvement in their annual returns compared to the previous month, Cleveland being the only exception.

San Francisco and Washington DC have reported six consecutive months of positive returns. Chicago, Minneapolis, San Diego and the two Composites were close behind with five consecutive months of positive returns. In addition to the two Composites, nine of the MSAs reported positive monthly returns for September and four of those -- Chicago, Detroit Minneapolis and San Francisco -- were greater than +1.0%.

Las Vegas remains the most depressed market. Prices have declined for 37 consecutive months, with a peak-to-trough reading of -55.4%. While Detroit has seen some positive movement in recent months, the market is still at only 73% of its 2000 value.

 This compares to regions such as Los Angeles, New York and Washington, which have maintained values of 70-80% above their 2000 averages, in spite of the market downturn.

For more information, please contact:
David Blitzer, Chairman of the Index Committee, Standard & Poor’s, 212 438 3907,

David Guarino, Communications, Standard & Poor’s, 1 212 438 1471,

Tax Credit Group of Marcus & Millichap Reaches $1.5B Milestone

ENCINO, Calif., Nov. 18, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, announces that the firm’s Tax Credit Group (TCG) has been involved in the sale of more than $1.5 billion of Section 42 LIHTC (Low-Income Housing Tax Credit) product, according to John Kerin,  (top right photo) senior vice president and managing director of the firm.

“Since its formation in 2001, the Tax Credit Group has been involved in 239 tax credit multifamily transactions in 34 states totaling $1.5 billion in real estate. Operating within Marcus & Millichap’s National Multi Housing Group, TCG provides disposition and advisory services to clients in every region of the United States,” says Kerin.

“The Tax Credit Group has transformed the affordable housing brokerage market by creating opportunity and maximizing value for its clients,” says Robert Sheppard, (middle  left photo)  senior director of the Seattle-based Tax Credit Group. “The principals possess more than 32 combined years of real estate brokerage, advisory, research and low-income housing tax credit property experience to assist investors in property dispositions and acquisitions.”

Some of the Tax Credit Group’s most significant transactions in 2009 include:

· The $26.12 million sale of the Fields at Landmark , a 290-unit Section 42 LIHTC property at 318 S. Whiting St. in Alexandria, Va., in conjunction with the firm’s Southeast Virginia office;

· The $14.7 million sale of Woodland Greens, a 240-unit Section 42 LIHTC project located at 19801 50th Ave. W in Lynnwood, Wash.; and

· The $10.9 million sale of the 300-unit Waterford at Valley Ranch, a 249,600-square foot Section 42 apartment complex in Irving, Texas, in conjunction with the firm’s Dallas office.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Grubb & Ellis Facilitates 137,004-SF Lease Extension to the National Oceanic & Atmospheric Administration

WASHINGTON, D.C.– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm represented Auth Road Associates in the lease extension of 137,004 square feet of office space to the National Oceanic & Atmospheric Administration at the World Weather Building (top right photo)  in Suitland, Md.

Kurt Stout, senior vice president, Charles Dilks, vice president, and Keith Lavey, vice president, all members of the company’s Government Services Group, facilitated the transaction.

The building, located at 5200 Auth Road, has been the long-time home of the National Centers for Environmental Prediction and the National Weather Service.

Grubb & Ellis’ Government Services Group provides advisory and transaction services to lessors, investors and government agencies throughout the United States. For more information, visit

Contact:  Erin Mays, Phone: 312.698.6735, Email:

CT Hsu + Associates Celebrates 25th Anniversary in Orlando, FL

ORLANDO, FL--In this November 2009  issue of Full Circle, we celebrate our 25th anniversary by taking a look at one of our signature projects for 2009 that exemplifies the firm’s history of success.

Highlights the Firm's 25th Anniversary

Grand Opening of University Center (below centered photo)

Florida Governor Charlie Crist (bottom left photo)  hails the project’s importance to the community

An October 29 ribbon-cutting ceremony officially celebrated the opening of University Center, a significant new educational facility on the West Campus of Valencia Community College (VCC) designed by C.T. Hsu + Associates.

 From the outset, CTH+A designed University Center using BIM technology to maximize energy efficiency and integrate sustainable design concepts into the project through the use of sun path studies and daylight modeling analysis methods.

Staff News

In 2009, Intern Architect Jenny Alvarez earned accreditation by the U.S. Green Building Council’s “Leadership in Energy & Environmental Design” (LEED) program.

Nathan Butler, AIA, LEED AP is serving as vice president of the statewide AIA Florida Association.

Miguel Botello, AIA, LEED AP, was promoted to associate with the firm.

J. Daniel Jenkins (middle right photo) joined the firm as a project manager.

Firm News

Construction has begun on a new state-of-the-art campus for Edgewater High School, replacing the aging facility that has served the College Park neighborhood since 1952.

CTH+A also is providing architectural services for the $45 million comprehensive construction project at Osceola High School in Kissimmee, Fla.

In Lake County, CTH+A is providing architectural services for the new 5,000-square-foot Yalaha Community Center located between Howey-in-the-Hills and Leesburg.

The firm recently completed fire station projects for two Central Florida cities: Port Orange and Winter Garden.

Lakemont Elementary School dedicated its new $15.3 million replacement campus designed by CTH+A.

CTH+A was instrumental in the development of the statewide Chinese American Technology and Culture Conference in September.


CampusWorks to Build a New Student Housing Development at University of North Carolina at Charlotte

CHARLOTTE, NC--CampusWorks, a Charlotte-based Student Housing Builder, was awarded the contract to build 131 apartment units consisting of 386 beds to serve the growing student population at The University of North Carolina at Charlotte. (top right photo)

The Flats at Mallard Creek is located on the corner of Mallard Creek Church Road and Bonnie Cone running directly into the northern part of the UNCC campus and will be delivered for the 2010 academic school year.

CampusWorks has partnered with a Florida based developer that focuses on strategic locations in growth markets developing real estate ranging from luxury high-rise and student housing to affordable multifamily housing communities.

The Flats at Mallard Creek will be the third asset CampusWorks has provided construction services for within the UNCC market. CampusWorks built and is part owner of University Village (660 beds) and was a partner in the acquisition and renovation of University Club (520 beds).

CampusWorks Construction specializes in development and new construction of Student Housing communities. For over 12 years, CampusWorks has grown its portfolio developing, building and acquiring student housing at major universities throughout the Southeast.

Contact:  Steve Helfrich, CampusWorks Construction & Development, Business Development, (704) 821-5599 x222,,

Wyndham Hotel Group to Debut Wyndham and Ramada Encore in Middle East

DUBAI,  UAE – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels under 11 brands, continues its expansion in the Middle East with the signing of agreements for the Wyndham Riyadh hotel  (middle right photo) in Riyadh, Saudi Arabia and the Ramada Encore Doha hotel (top left photo) in Doha, Qatar, both firsts in the Middle East for the company.

This month, Wyndham Hotel Group also signed an agreement for the development of the five –star, 700-room Ramada Plaza Makkah hotel,(bottom left photo)  the brand’s third property in the Holy City, and it opened the Ramada Downtown Burj Dubai hotel  (top right photo) which overlooks the Burj Boulevard within the Burj Residences neighborhood.

“The Middle East plays a significant role in Wyndham Hotel Group’s global growth strategy,” said Eric Danziger, Wyndham Hotel Group president and chief executive officer. “The signing of these three agreements as well as the opening of the Ramada Downtown Burj Dubai hotel are a testament to the strength, value and relevance of our brands both in the Middle East and around the world.”

The 210-room, 15-story upscale Wyndham hotel will be developed by Rayada Investment Company in Riyadh and will be part of the prestigious King Abdullah Financial District. It is expected to open during the third quarter of 2011.

The Wyndham Riyadh-King Abdullah Financial District property will feature the first Blue HarmonyTM Spa and Fitness Experience in the Middle East as well as 11 meeting rooms, four restaurants, four lounges, an outdoor pool, beauty salon and business center.

The project will be constructed to energy-saving and environmental standards specified by the Leadership in Energy and Environmental Design Green Building Rating System™, more commonly known as LEED.

The 110-room Doha hotel, which will be Wyndham Hotel Group’s first Ramada Encore hotel in the region, is expected to open in the second quarter of 2010. The contemporary, value-conscious property will be located on Ahmad Bin Mohamad Bin Thani Road in the Al-Asmakh area in Doha and is the company’s first managed Ramada Encore hotel.

Ramada Encore properties are stylish, midscale hotels located throughout Europe and Asia, and now, in the Middle East with the addition of the Ramada Encore Doha hotel.

Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN), encompasses more than 7,000 hotels and 590,000 rooms under its 11 brands in 65 countries.

All hotels are independently owned and operated excluding certain Wyndham and international Ramada hotels which are managed by our affiliate or through a joint venture partner. Wyndham Hotel Group is based in Parsippany, N.J. Additional information is available at

CONTACT:  Christine Da Silva, 973-753-6590,

Arbor Helps Long Island Cares Provide Hundreds with Hot Dinners this Thanksgiving Day

 (UNIONDALE,  NY) - Arbor employees collected over 100 pounds of Thanksgiving favorites, along with $550 in monetary donations for Long Island Cares Food Bank’s Calling All Turkeys campaign.

This special drive was designed to aid Long Island Cares with their goal of distributing 3,000 turkey dinners by Thanksgiving.

 (Pictured left to right): Ingrid Principe, Marketing Specialist, Arbor; Robin Amato Lanci, CFRE, Director of Development and Communications, Long Island Cares.

CONTACT:   Ingrid Principe, Marketing, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555,, Follow us on Twitter @ arbor1


Meridian Capital Group Arranges Over $7M in Financing in North Carolina and Florida

Plaza Terrace Apartments in Laurinburg, NC Receives $2.5M

LAURINBURG,  NC - Meridian Capital Group recently arranged a loan in the amount of $2,500,000 for the refinancing of the Plaza Terrace Apartments.( top left photo)

 This 154-unit property is garden style with brick veneer and pitched shingle roofs. Mike Brown and Noam Kaminetzky of Meridian’s Florida office successfully negotiated with Alliant Capital on behalf of the borrower to secure a fixed rate of 5.53% for a 10-year term.

Meridian Arranges Over $2.5M in Financing for Assisted Living Facility in North Miami, FL 

NORTH MIAMI,  FL - Meridian Capital Group recently arranged a loan in the amount of $2,500,000 for the refinancing of a 118 bed, 30,836 square foot assisted living facility in North Miami.

This single story facility sprawled over 2.05 acre, offers meal programs, private and semi-private rooms, 24 Hour Supervision, Daily Housekeeping, Medication Supervision, Laundry Service, On Site Activities & Entertainment and a Barbershop and Beauty Salon.

Daniel Heumann and Noam Kaminetzky of Meridian’s Florida office successfully negotiated with a local lender a rate of 6.50% for a 25-year self-liquidating term. Additionally, Meridian secured the ability for the borrower to obtain supplemental funding of up to 100% of the loan amount.

Self-Storage Facility in Tampa, FL Obtains $2.2M Loan

TAMPA,  FL - Meridian Capital Group recently arranged a loan in the amount of $2,200,000 for the refinancing of a 466 unit, 43,357 square foot self storage facility in Tampa.

The property, situated 2.50 acres, includes 192 Climate-Controlled units and 274 Non Climate-Controlled units. The property includes a cell tower that is leased by Verizon.

Mike Brown and Noam Kaminetzky of Meridian’s Florida office successfully negotiated on behalf of the borrower to secure a rate of 6.50% for a 10-year term.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida and California.

 Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,250 transactions in 2008, totaling over $11.5 billion.

Contact: Dani Sabesan:  (212) 612-0109,  Cell: (516) 551-9109,  Fax: (212) 201-5154,

Cuhaci & Peterson Win New Contracts in Florida, Georgia, California, South Carolina

Cuhaci & Peterson Architects Awarded Contracts to design renovations for Sweetbay Supermarkets in Sarasota, St. Petersburg and S. Pasadena

ORLANDO, Fla. -- Cuhaci & Peterson Architects, LLC, based in Orlando’s Baldwin Park, which ranks as one of the largest commercial architectural firms in the southeast, was recently awarded contracts to design renovations for Sweetbay grocery store facilities in Sarasota, St. Petersburg and South Pasadena, CA.

Lonnie Peterson, (top right photo)  chairman of Cuhaci & Peterson Architects, said all three facilities measure 35,000 square feet of retail space.

Cuhaci & Peterson Architects Awarded Contract to Design Pizza Hut Restaurant facilities in Georgia, South Carolina

ORLANDO, FL. --- Cuhaci & Peterson Architects LLC, based in Orlando’s Baldwin Park, was recently awarded a contract to design two Pizza Hut restaurant facilities in Baxley, Georgia and Bluffton, South Carolina.

Jed Downs, president of Cuhaci & Peterson Architects, said Yum Brands, Inc., the Louisville, Ky. Company that owns the Pizza Hut, KFC, Taco Bell and Long John Silver’s brands and ranks as the largest restaurant company in the world, awarded the contracts.

Both restaurant facilities will total 1,200 square feet of space, Downs said.

For more information, contact:
Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100
Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Emerson International Negotiates Office Lease for 15,000 SF at CenterPointe I in Altamonte Springs, FL

  ALTAMONTE SPRINGS, Fla. --- Emerson International recently negotiated a new long-term lease agreement for 15,000 square feet of Class A office space at CenterPointe I, (below centered photo) located at 240 E. Central Parkway in Altamonte Springs.

Kenneth Koch, commercial portfolio manager at Emerson International, negotiated the lease agreement with the new tenant, Crump Insurance Services of Florida, on the landlord’s behalf.

Steve Andrews with Fischer & Company and Matthew Mckeever (bottom right  photo) with Cushman & Wakefield represented the tenant.

Crump Insurance Services of Florida is a property and casualty insurance wholesaler.

For more information, contact

Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560;
Kenneth Koch, Commercial Portfolio Manager, Emerson International, Inc. 407-834-9560;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Monday, November 23, 2009

MBA Reports Multifamily Lending 40 Percent Lower in 2008 Than 2007; Market Remained Broad and Diverse

Washington, DC  - In 2008, 2,877 different multifamily lenders provided a total of more than $88 billion in new financing for apartment buildings with five or more units, according to an annual report from the Mortgage Bankers Association (MBA). The 2008 dollar volume represents a 40 percent decline from 2007 levels.

In terms of total dollar volume, the top five multifamily lenders in 2008 were PNC Real Estate, Wachovia, Wells Fargo Bank, N.A, Capmark Financial Group Inc, and Deutsche Bank Commercial Real Estate.

"Multifamily lending volume was down in 2008, but even in the face of the credit crunch, there was a broad and diverse market offering mortgages to apartment building owners," said Jamie Woodwell, (top right photo)  MBA's Vice President of Commercial Real Estate Research.

 "There is a core group of dedicated multifamily lenders that originated a large number of loans in 2008. In addition, there is a broad group of smaller institutions that each originated a small number of loans, but collectively offered borrowers a wide range of options. In fact, 26 percent of lenders who made multifamily loans in 2008 made just one, and two-thirds made five or fewer."

The report is based on data from the MBA 2008 Commercial Multifamily Annual Origination Volume Summation and the Home Mortgage Disclosure Act (HMDA).

The MBA survey targets specialized commercial/multifamily originators and covered $181 billion in commercial/multifamily loans in 2008. The HMDA data adds multifamily loans from banks, thrifts and other institutions that meet certain single-family origination thresholds. When combined, the two datasets provide the most comprehensive assessment of the multifamily mortgage market available.

CONTACT: Carolyn Kemp, (202) 557-2727,

Innkeepers USA Trust Suspends Payment of 4th Quarter 2009 Dividen on 8% Series C Cumulative Redeemable Preferred Shares

PALM BEACH, FL– Innkeepers USA Trust (OTC: INKPP) announced that it has suspended payment of its 2009 fourth quarter dividend on its 8% Series C Cumulative Redeemable Preferred Shares.

Innkeepers’ board of trustees will continue to review future quarterly dividends on the 8% Series C Cumulative Redeemable Preferred Shares based on financial and economic conditions and other appropriate factors.

A description of the 8% Series C Cumulative Redeemable Preferred Shares, is available in the Amended and Restated Declaration of Trust of Innkeepers USA Trust and the Articles Supplementary to the Declaration of Trust. Certain information regarding the 8% Series C Cumulative Redeemable Preferred Shares may be found on the company’s website at

Innkeepers USA Trust is a real estate investment trust (REIT) and a leading owner of upscale and extended-stay hotel properties throughout the United States. The company currently owns interests in 73 hotels with approximately 10,000 rooms in 19 states and the District of Columbia.

Contact: Dennis Craven, CFO, Innkeepers USA Trust, Telephone: (561) 227-1302

CB Richard Ellis and Prudential Announce Sale of Sweetbay Shopping Center in Tampa, FL

TAMPA, FL -– CB Richard Ellis (CBRE), the world's leading commercial real estate services provider, and Prudential Real Estate Investors announce the sale of Sweetbay Shopping Center, a neighborhood shopping center located at the intersection of North Dale Mabry Highway and Beach Street in Tampa, Fla. The property was acquired by S-O Sweet FL Retail I LLC.

The CBRE Florida National Retail Investment Group exclusively represented the seller, which was a fund advised by Prudential Real Estate Investors. The buyer, S-O Sweet FL Retail, is a private investor based in Ohio.

"Sweetbay Shopping Center is extremely well located and has a history of successful operations since it opened in 2003," said Casey Rosen, (top right photo)  senior vice president for CBRE. "The buyer was interested in a stable low-risk investment involving high quality real estate and this property met that criteria."

Anchored by a 46,147-sq. ft. Sweetbay grocery store, the 56,097-sq.-ft. shopping center features national and regional tenants including Moe's Southwest Grill, Smoothie King, GameStop and Quiznos.

The property is strategically located on the "going home" side of North Dale Mabry Highway, a primary route to and from the affluent neighborhoods of north Tampa.

For more information about the CBRE Florida National Retail Investment Group, please visit:

Contact: Rachel Andreozzi , 954.745.7464,

Industrial Team at Southern Commercial Completes 12,027-SF New Lease

ORLANDO, FL--Principals William “Bo” Bradford, CCIM, SIOR and Tom McFadden, SIOR of Southern Commercial Real Estate Advisors completed a 12,027 square foot new lease at 2157 Viscount Row, Orlando, Florida. Bradford and McFadden negotiated the lease, representing the Landlord, GE Real Estate. The tenant is The Incredibeds, LLC.

Media Contact: Celeste MacKenzie, Southern Commercial Real Estate Advisors, 321-281-8503 20 N. Orange Avenue, Suite 605, Orlando, FL 32801,

Grubb & Ellis Commercial Florida negotiates long-term lease agreement for 37,175 SF at Tampa multi-tenant facility

TAMPA, FL – Grubb & Ellis Commercial Florida’s, associated with 130 offices worldwide, recently negotiated a long-term lease agreement for 37,175 square feet of office/warehouse flex space at 8800 Adamo Drive just east of downtown Tampa.

Mia Jarrell, (top right photo) vice president of the Office Group at Grubb &  Ellis
Commercial Florida, negotiated the transaction representing the new tenant, Non Stop Digital Services South, LLC. Non Stop Digital specializes in sales, service and custom manufacture of broadband products for the industrial and retail industries, and is headquartered in Tempe, Ariz.

The landlord at the 379,834 square foot multi-tenant facility is Exeter Property Group, based in Plymouth Meeting, Penn.

Contacts: Mia Jarrell, 813-639-1111; Jeffrey Sweeney, 407-481-5387; Larry Vershel, 407-644-4142

NAI Realvest Negotiates Long-Term Lease of former Captain D’s Restaurant Facility on East Colonial in Southeast Orlando

ORLANDO, Fla. – NAI Realvest recently negotiated a six-year lease agreement for the 2,500 square foot former Captain D’s restaurant facility at 10414 E. Colonial Drive in southeast Orlando.

Mez Birdie, CCIM, director of retail and investment services at NAI Realvest, brokered the transaction on behalf of the landlord, Nashville-based Captain D’s Restaurants/Sagittarius Brands, and the new tenant, The Grill.

Birdie provides various outsourced real estate services including sale-leaseback, leasing, brokerage and surplus site selection to Sagittarius Brands, the parent company for Captain D’s and Del Taco restaurants.

For more information, contact:

Mez Birdie, CCIM, Director/Retail & Investment Services NAI Realvest 407-875-9989,
Patrick Mahoney, President and COO NAI Realvest, 407-875-9989,
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Morrison Commercial Real Estate Completes 43,284 SF of Leases in Orlando

ORLANDO, F:--Greg Morrison, (top right photo)  CCIM, SIOR, Principal and Founder of Morrison Commercial Real Estate, announced the completion of several office lease transactions totaling 43,284 square feet throughout Orlando.

Lisa Bailey (bottom left photo) of Morrison Commercial Real Estate completed these transactions including a new lease totaling 9,033± square-feet to RomaCorp, Inc. and 11th Hour Business Center who leased a total of a 10,830± square-feet at the Lake Point Business Park.

At the Atrium Tower, Bailey renewed the lease for American Management Services totaling 9,400± square-feet along with Richard Loiseau and Century 22 Marketing.

Another significant deal, Bailey renewed and expanded the lease for Nurse on Call at Commerce Point totaling 10,391± square-feet along with two new tenants Atlantic P.I. and Urban Models.

Contact: Buffy Gillette, Phone: 407.219.3500, Email:

Friday, November 20, 2009

HFF closes $5.4M sale of Harris Teeter in Wilmington, NC

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of a 57,230-square-foot, free-standing Harris Teeter in Wilmington, North Carolina.

HFF directors Jim Hamilton (top right photo)  and Richard Reid (bottom left photo) and associate director Kevin Hurley marketed the property on behalf of the seller, Inland Western REIT. Lake Davidson Village, LLC, an affiliate of Chen Development, LLC, purchased Harris Teeter for $5.4 million.

Harris Teeter is located at 820 South College Road close to Routes 76 and 74, The University of North Carolina at Wilmington, and Wrightsville Beach in Wilmington. The property is situated on nearly five acres and is fully leased to Harris Teeter through 2015.

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States.

 As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties.

They also have interest in 12 unconsolidated operating properties and 17 properties in 7 development joint ventures. For further information, please see the company website at


Jim Hamilton, HFF Director, (404) 942-2212,
Richard Reid, HFF Director, (404) 942-2209,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

HFF places $24M loan with Freddie Mac for Fullerton, CA luxury multi-housing property

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) has placed a $24 million loan with Freddie Mac for City Pointe Apartments, a 183-unit, Class A multi-housing property in Fullerton, California.

Working exclusively on behalf of Cornerstone Real Estate Advisers, HFF senior managing director Dana Brome (top right photo)  and senior real estate analyst Carlos Febres-Mazzei secured the loan through Freddie’s Capped ARM Program.

The five-year adjustable-rate financing is repaying an existing loan with Cigna Investments also arranged by HFF in 2004.

City Pointe Apartments is located at 130 East Chapman Avenue near the Riverside and Orange Freeways in Fullerton, approximately 23 miles southeast of Los Angeles. Completed in 2004, the property consists of five stories of residential units, averaging 875 square feet each, situated above ground-floor commercial/retail space and a parking garage. The residential portion of the property is 95% leased. Community amenities for residents include a fitness center, pool, media room, business center and community center.

“City Pointe is located in North Orange County, which is recognized as one of the strongest multi-housing markets in the Los Angeles area. Its rapid population growth, desirable location and access to local and regional freeways and amenities have ensured low vacancy for a number of years,” said Brome.

Cornerstone Real Estate Advisers is a national commercial real estate advisor with more than $9.5 billion of assets under management.


Dana E. Brome, HFF Senior Managing Director, (617) 338-0990,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

HFF arranges $16.3M refinancing for two-building office campus in Marlborough, MA

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $16.3 million first mortgage loan secured by a 207,000-square-foot, two-building office campus within Lake Williams Corporate Center in Marlborough, Massachusetts.

Working exclusively on behalf of Great Point Investors, LLC, HFF senior managing director Riaz Cassum and senior real estate analyst Lauren O’Neil placed the five-year fixed-rate loan with Danvers Bank. Loan proceeds were used to retire the existing maturing debt on the properties, which was originally placed with a life company by HFF in 2002.

Located at 26 and 62 Forest Street within the Lake Williams Corporate Center, the properties are close to Interstates 495, 90 and 290 in southwest Marlborough approximately 27 miles west of Boston. 26 Forest Street has 119,016 square feet and 62 Forest has 88,342 square feet of Class A office space. Both properties were completed in 2001 and are 90% leased to four tenants: Advanced Micro Devices, International Power America, Netezza and Navilyst Medical.

“HFF was able to secure a loan that was equal to the existing debt on the property, which was a major accomplishment in today’s challenging capital market,” said Cassum. “Additionally, the borrower was able to fix its cost of capital for the next five years at a very attractive interest rate.”

Great Point Investors, LLC creates and manages private market real estate transactions for institutional investors.


Riaz A. Cassum, HFF Senior Managing Director, (617) 338-0990,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

Corporate Office Centers Leases Floor at Lenox Building

ATLANTA, GA-- Corporate Office Centers of Arlington, Texas, signed a lease for 21,000 square feet at the Lenox Building, (top left photo)  according to PM Realty Group, which markets and leases space in The Lenox Building.

Corporate Office Centers, one of the largest executive office business center operators in the United States, committed to a 10-year lease at the Lenox Building. The lease commences in December.

Corporate Office Centers is in the middle of a growth initiative that has positioned it as a nationwide provider of executive office space.

"The Lenox Building will offer our clients a true Class A environment with direct access to unparalleled amenities," said Thad Pittman, president of Corporate Office Centers. "It is the type of building that is ideal for a Corporate Office Centers location."

The Lenox Building is a 20-story, 350,000-square-foot Class A office tower in Atlanta's Buckhead submarket. The tower, owned by one of ING Clarion's separate-account pension fund clients, is connected to the Lenox Square Mall and the JW Marriott hotel.

"Corporate Office Centers is a nice addition to the tenant mix at the Lenox Building," said Dean Giordano, (bottom right photo)  a senior vice president at PM Realty Group. Giordano and Bill Weghorst, senior vice president and director of PM Realty Group's Atlanta Region, represented the landlord.

The Corporate Office Centers lease continues the Lenox Building's leasing momentum. Earlier this month, Gables Residential signed a 21,000-square-foot deal at the Lenox Building. The developer, owner and manager of multifamily properties will move its headquarters to the building this fall.

Corporate Office Centers owns and operates 31 executive suite locations nationwide The company provides cost-effective, immediate office space solutions, virtual office plans, meeting facilities, administrative support services and network access to office space and business services worldwide.

Media Contact:

Tony Wilbert, Wilbert News Strategies LLC, 404-888-3091 office/404-405-3656 cell,