Wednesday, January 21, 2009

Tampa, FL Student Housing Project Gets $15M Loan

ORLANDO, FL-- Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $15,335,000 for Casa del Toro Student Housing (top right photo) in Tampa, Florida.

Doug Rozzell, (bottom left photo) Company Principal, along with David Repka of Bison Financial Group, financed Casa del Toro Student Housing through Thomas D. Wood and Company’s relationship with a regional bank.

This construction loan consists of two parts: a $3,000,000 revolving loan, at a rate of LIBOR + 300 basis points interest-only, and a $12,335,000 non-revolving term facility with a rate of 6% and 25-year amortization on each building as it is stabilized.
The loan-to-value is 75% and loan-to-cost is 80%. Casa del Toro Student Housing will be built on 6.92 acres on North 58th Street, Tampa, Florida.

For further information, please contact:
Doug Rozzell (407) 937-0470
Jessica Gurtowski (407) 937-0470

Regency Centers Announces Partial Partnership Distribution

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) announced that it and its joint venture partner Macquarie Countrywide Trust (MCW) have agreed to dissolve two of their initial co-investment entities.

As a result of the dissolution, the portfolio assets are distributed as 100% ownership interests to MCW and Regency after a selection process as provided for by the terms in the original partnership agreement.

The process allows a one-for-one selection rotation, with Regency selecting first, until the value of the properties selected, as determined by appraisal, equals Regency's existing ownership interest.

Also, the dissolution of the entities results in an additional distribution and liquidation management fee payable to Regency expected to be in the range of $11 million to $15 million.

This amount will be received by Regency in the form of an increased ownership interest as part of the selection process described above. The dissolution is expected to be completed by the end of March subject to required lender consents for ownership transfer.

MCW and Regency remain partners in three co-investment entities that in total own and operate 123 assets.

Contact: Regency Centers Corporation, Jacksonville Lisa Palmer, 904-598-7636

China Housing Acquires Property Management Company in Xi'an

XI'AN, CHINA/PRNewswire-Asia-FirstCall/ -- China Housing & Land Development, Inc., ("China Housing", Nasdaq: CHLN) has completed the acquisition of Xi'an Xinxing Property Management Co., Ltd. ("Xinxing").

Xinxing was privately owned and provides property management services to most of China Housing's past residential and commercial projects, as well as to other prominent customers like the Xi'an branch office building of the People's Bank of China, China Xi'an Electric Group headquarters, Shaanxi Bureau of State Taxation offices, and the Xi'an University of International Studies, to name a few.

Xinxing's current service area totals 1.67 million square meters (17.98 million square feet) in 43 facilities that include residential, commercial, and school buildings and parks.

Xinxing's revenues in 2008 were RMB 15.42 million, net income was RMB 1.82 million, and assets at yearend 2008 totaled RMB 11.29 million.

Total consideration for the acquisition will be 12 million RMB. ($US 1.75 million)

Mr. Pingji Lu, Chairman of China Housing & Land Development, said, "This acquisition greatly strengthens our ability to improve our value to our customers during the after-sale phase of our real estate development business.

"This acquisition brings an important phase of real estate development into our company, one that further emphasizes our long-term commitment to our customers."

Founded in 1996, Xi'an Xinxing Property Management Co., Ltd. was one of the earliest Chinese companies to specialize in property management.

Based in Xi'an, (top right photo collage) the capital city of China's Shaanxi province, (bottom left map) China Housing & Land Development, Inc. is a leading developer of residential and commercial properties in northwest China.

For more information, please contact:

Ms. Jing Lu Chief Operating Officer, Board Secretary, and Investor Relations Officer Tel: +86-29-8258-2632 in Xi'an Email: /

English and Chinese Mr. William Xin, Chief Financial Officer Tel: +86-150-9175-2090 in Xi'an +1-917-371-9827 in San Francisco Email: /

English and Chinese Mr. Tom Myers, Christensen Investor Relations Tel: +86-139-1141-3520 in Beijing Email: /

English Ms. Kathy Li, Christensen Investor Relations Tel: +1-212-618-1978 in New York Email: / English and ChineseFCMN contact: KLi@christensenir.comSource: China Housing & Land Development, Inc.

Arbor Closes 5 Fannie Mae Loans Totaling $22M

Three Milford, MA Apartment Projects Receive $17.9M

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three loans totaling $17,900,000 under the Fannie Mae DUS® product line to finance the complexes known as Lincoln Street Apartments, Pheasant Circle Apartments and Sherwood Park Apartments in Milford, MA.

Each of the three, 10-loans amortizes on a 30-year schedule and carries a note rate of 6.38 percent.

The loan was originated by John Kelly, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.

“These transactions demonstrates the flexibility of our multifamily financing platform as we were able to provide acquisition financing at over 80% of the purchase price that includes funding for approximately $1 million in capital improvements,” said Kelly.

“We have closed numerous deals on behalf of this sponsorship group and we look forward to continuing to grow this financial partnership.”

Bret Block Portfolio in College Park, GA Receives $2.13M

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,125,000 loan under the Fannie Mae DUS® product line to refinance four (4) properties totaling 69 units known as Bret Block Portfolio in College Park, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.26 percent.

The loan was originated by Bob Anderson, Director, in Arbor’s full-service Atlanta, GA lending office.

“We were able to put together a very attractive long - term package that generated maximum proceeds for an experienced borrower,” said Anderson. “The financing of this portfolio emphasizes Arbor’s continuing commitment to fund loans on smaller multifamily properties during difficult market conditions.”

$1.58M Fannie Mae DUS® Small Loan Goes to Brookstone Cottages in Norman, OK

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,575,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 64-unit complex known as Brookstone Cottages in Norman, OK.

The 15-year loan amortizes on a 30-year schedule and carries a note rate of 6.61 percent.

The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office.

“Arbor had the opportunity to provide financing on this high-quality LIHTC property with a very experienced borrower,” said Porterfield. “Arbor is one of only a handful of DUS® lenders actively funding affordable housing properties within our Small Loan program.”

Ingrid Principe. Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553. P: 516.506.4298. F: 516.542.2555.

Lubert-Adler and Lane Company Form $250M Real Estate Venture in Atlanta

ATLANTA, GA-– Dean Adler, (top right photo) Chairman of Lubert-Adler and George Lane, (top left photo) Chairman and CEO of Lane Company have announced a new multifamily real estate venture.

Lubert-Adler will provide $250 million for the acquisition of multifamily properties primarily in the Southeast and Southwest.

The initial funds will be used for the acquisition, rehabilitation and repositioning of distressed properties, or properties held by distressed sellers.

Lubert-Adler is a real estate private equity firm specializing in redevelopments through joint ventures with local operating partners.

Lubert-Adler and Lane Company have been partners in a number of ventures over ten years, most recently, the acquisition of Solace on Peachtree Apartments (middle right photo) in Atlanta, which is currently being renovated.
Lubert-Adler previously invested in several of Lane Company’s award-winning communities in Atlantic Station, (middle left photo) the live/work/play redevelopment in Midtown Atlanta.

“We are poised to take advantage of a number of opportunities in 2009,” said Lane Company CEO George Lane.

“Our platform allows us to perform due diligence, acquire, renovate and provide strong property and asset management to drive above-market yields on such investments.”

In 2007, Lane Company began actively pursuing acquisitions of “value-add” multifamily properties that need an infusion of capital or are located in recovering markets.

Lane Company currently is supervising the renovation of five such value-add acquisitions located from Baltimore, MD to Austin, Texas.

Lubert-Adler is a real estate investment company co-founded by Ira Lubert (bottom right photo) and Dean Adler in 1997.
The Lubert-Adler investment team consists of experienced professionals with strong backgrounds in real estate acquisition, redevelopment, asset management, distressed restructurings, structured finance, and capital markets.

Lubert-Adler is headquartered in Philadelphia and has offices in New York, Atlanta and Los Angeles.

Lubert-Adler has raised an aggregate of $6.6 billion in investor equity since inception and recently closed fundraising for its sixth fund with $2.5 billion of committed equity, principally from large university endowments.

Lane Company ( is a vertically-integrated, full-service multifamily real estate company.

Its expertise extends to all areas of real estate including apartment and condominium development, investment, property management, construction, asset management and marketing.

With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. Its goal is to make big things happen by connecting people and communities one home at a time.

Media Contact: Terri Thornton, Thornton Communications, 404-932-4347