Friday, February 6, 2009

Apple REIT Chairman and Publisher of Forbes Named Keynote Speakers of 2009 Hunter Hotel Investment Conference

Conference Relocates to Atlanta Marriott Marquis

ATLANTA, GA—Officials today announced that Glade Knight, (top right photo) chairman & CEO, Apple REIT Companies, and Rich Karlgaard, (top left photo) publisher and columnist, Forbes Magazine, will be the keynote speakers at the 2009 Hunter Hotel Investment Conference, to be held March 15-17, 2009.

In addition, officials said that the conference has been relocated to the Atlanta Marriott Marquis in Atlanta, Georgia, from the Hilton Atlanta Downtown.

“Due to the turbulent economic conditions and the sobering forecasts for 2009, hoteliers are more anxious than ever to get input about the direction of the economy and the hotel industry,” said Bob Hunter, (middle right photo) CEO of Hunter Realty Associates, Inc., and Conference Chair.

“Glade Knight oversees one of the nation’s largest hotel portfolios and remains an active acquirer. He brings insights into both the current hotel real estate market and an historic perspective.

"Rich Karlgaard is both publisher and a columnist for Forbes and will bring it all together for us and offer a unique ‘30,000-foot’ outlook for the economy, the success of the government’s efforts to get the economy back on track and how business leaders are responding.

"Their ability to speak directly and candidly about issues that concern hoteliers make them ideal keynote speakers and will ensure that attendees at the Hunter Hotel Investment Conference receive not only the information they want to hear, but the information they need to hear.”

Glade Knight founded and oversees Apple REIT Companies, a group of hotel REITs that haved owned a total of 285 hotels and currently own 191 hotels in a range of market segments nationwide.

Celebrating 21years in 2009, the Hunter Hotel Investment Conference is one of four annual events nationwide that attract the hotel industry’s top leaders.

It will feature a program of more than 100 speakers, 15 roundtables, 16 breakout sessions, seven “main” tent sessions and two keynote speakers. Proceeds from the conference benefit the scholarship fund at Georgia State University’s Cecil B. Day School of Hospitality.

Details of the program are available at Attendees may register on line and make their room reservations at the conference website.
For more information, contact Bob Hunter, Conference Chair; or Nancy Petenbrink, Conference Coordinator, at 770-916-0300; by fax 770-916-0301 and by email to The conference headquarters are located at 300 Galleria Parkway, Suite 620, Atlanta, GA 30339

Jerry Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293 or

Marcus & Millichap Hires Jamie B. May as Senior Director

TAMPA, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Jamie B. May (top right photo) as a senior director of the National Multi Housing Group (NMHG), according to Linwood Thompson, (bottom left photo) senior vice president and managing director of the NMHG.

In his new post, May will provide advisory and brokerage services to owners and investors of major apartment properties throughout Florida and the Southeast, where he has established a dominant market share.

May represents pension funds, pension fund advisors, sovereign wealth funds and high net-worth individuals. He will also assist his clients with assignments nationally.
Most recently, May was the president and chief executive officer of JBM Realty Advisors, a multi-family investment firm based in Tampa.

“Jamie is one of the most talented and experienced apartment investment specialists in the Southeast,” explains Thompson. “By adding Jamie to our team, we will not only strengthen our client services in the Southeast, but also increase the depth of our national platform for major apartment owners and investors.”

“Marcus & Millichap gives me the ability to work with top multi-family brokers in the firm’s national network and enhance my client services through its renowned research and market analysis. Now more than ever, this market requires strength in numbers and teamwork from the top down,” May says.

May looks forward to working with agents in key regions, such as Texas and the Northeast, which have traditionally had extensive capital flows into the Southeast. This is one of the primary advantages he will bring to his clients, Thompson notes.

Press Contact: Stacey CorsoCommunications Department(925) 953-1716

Grubb & Ellis Realty Investors Promotes Crowe and Teagle

SANTA ANA, CA – Grubb & Ellis Realty Investors, LLC today announced that both Ross Crowe (top right photo) and Christine Teagle, CCIM, have been promoted to senior vice president, Asset Management.

Crowe and Teagle are each responsible for planning, leasing, financial analyses and investor reporting for each asset in their assigned portfolios, as well as overseeing regional asset managers and the activities relating to their portfolios.

Crowe is responsible for the overall management of the company’s real estate assets in Amarillo and southeast Texas, while Teagle is responsible for north Texas, Oklahoma and north Florida.

“Ross and Christine are talented and experienced professionals who have shown great dedication to the company, investors, tenants and peers alike,” said Kent Peters, (bottom right photo) executive vice president, Asset Management. “They each work tirelessly to ensure that the properties they oversee deliver the best possible long-term value to their owners.”

Crowe joined Grubb & Ellis Realty Investors in 2007 as a regional asset manager, where he oversaw an investment portfolio comprised of commercial real estate properties located in the Austin and Houston areas.

He was promoted to vice president of Asset Management in May 2008. Crowe is currently a board member of the Downtown Austin Alliance, the Austin Museum of Art and the Lost Pines Music Festival.

Teagle joined Grubb & Ellis Realty Investors in 2006 as a regional asset manager and was promoted to vice president of Asset Management in May 2008.

With more than 20 years of experience, she holds the certified property manager designation from the Institute of Real Estate Management, an organization that recognizes experts who are among the top of the real estate management profession.

She is a member of the CCIM Institute, where she is among an elite group of more than 9,000 professionals who hold the CCIM designation across North America and more than 30 countries. Teagle is also an active member of Commercial Real Estate Women, participating on the public relations and new member recruitment committees.

Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2659,

Grubb & Ellis Adds Industry Veteran Karen Hurd to Private Capital Investment Team in Boston

BOSTON (Feb. 6, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Karen Hurd, (top right photo) has joined the firm as vice president, Investment Services.

Most recently, Hurd, a 17 year real estate and financial services verteran, was an assistant vice president with Compass Exchange Advisors, a qualified intermediary specializing in 1031 like-kind exchanges.

In this role, she spent the past three years strategizing with clients and their advisors on the disposition and acquisition of real and personal property involved in tax-deferred exchanges.

During her career, Hurd has been involved in transactions totaling in excess of $500 million. Prior to joining Compass Exchange Advisors, she held a business development position with Edward Jones, and marketing and asset management positions for real estate investment firms Marblehead Realty Trust and The Berkshire Group, formally The Krupp Companies.

“We are extremely pleased that Karen has joined our Private Capital Investment Group,” said Stephen Brodsky, executive vice president and managing director of Grubb & Ellis’ Boston office. “Her experience and knowledge serving private owners and buyers of commercial real estate investments builds upon our strength as one of the leading commercial property advisors in Boston and the US.”

Brodsky added, “given the current state of economic uncertainty, where many companies are trimming staff, we welcome the opportuity to hire well respected, top industry performers who can offer the very best service for our clients.”

Karen is a member of the Commercial Brokers Association of Boston, New England Women in Real Estate, Real Estate Finance Group, Commercial Real Estate Women, the National Association of Industrial and Office Properties and the National Beer Wholesalers Association. She is also actively involved in the South Shore Art Center and Boston College High School’s Mother’s Guild.

Contact: Erin Mays, Phone: 312.698.6735. Email:

Apartment Investment and Management Company Announces Fourth Quarter and Full Year 2008 Results and 2009 Outlook

DENVER, CO, Feb. 6 /PRNewswire-FirstCall/ -- Apartment Investment and Management Company (Aimco) (NYSE:AIV) today announced results for the fourth quarter and full year 2008, and its outlook for 2009-2008.

Funds From Operations before real estate impairment losses, net preferred redemption gains and non-recurring charges incurred during the fourth quarter 2008, was at the mid-point of guidance established in the third quarter of 2008 of $2.36 per share, as adjusted for shares issued in connection with the payment of special dividends on December 1, 2008 and January 29, 2009.

Non-recurring charges incurred during the fourth quarter reduced 2008 FFO by $0.72 per share.

For a complete copy of the company's news release and financials, please contact

Investor Relations, +1-303-691-4350,,
or Elizabeth Coalson, Vice President, Investor Relations, +1-303-691-4327, both of Apartment Investment and Management Company. Web site:

HFF closes sale of and arranges debt and equity for Barton Oaks II & III in Austin, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of and arranged debt and equity for Barton Oaks II and III, two five-story Class A office buildings totaling 238,594 square feet in Austin, Texas.

The HFF investment sales team marketed the property on behalf of the seller, Prudential Real Estate Investors.

HPI Real Estate Services & Investments (“HPI”) purchased Barton Oaks II and III for an undisclosed amount. HFF also represented PREI® on the sale of Barton Oaks V in October 2008.

HFF’s debt placement team exclusively represented HPI in securing the fixed-rate loan through ViewPoint Bank as well as joint venture equity from Sarofim Realty Advisors.

Barton Oaks II and III are located at 901 South MoPac Expressway at the intersection of Bee Caves Road close to downtown Austin and the residential neighborhoods of Lake Austin.

Barton Oaks II has 117,127 square feet that is 90% occupied and Barton Oaks III has 121,467 square feet of fully leased space. Notable tenants include The Broussard Group, Arbor E&T, Parsons Brinckerhoff, LifeSize Communications, Fiserv and IKON Office Solutions.


Andrew Levy, HFF Senior Managing Director, (214) 265-0880,
Mark E. West, (214) 265-0880, HFF Managing Director,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

Grubb & Ellis Realty Investors’ 200 Galleria Earns Energy Star Designation

SANTA ANA, CA– Grubb & Ellis Realty Investors, LLC announces that 200 Galleria, (top right photo) a 20-story Class A office building owned and managed on behalf of tenant-in-common investors, has earned the U.S. Environmental Protection Agency’s prestigious Energy Star designation.

Commercial buildings and industrial plants that rate in the top 25 percent of facilities in the nation for energy efficiency may qualify for the Energy Star.

“Grubb & Ellis Realty Investors is mindful of the energy consumption of its facilities, and strives to ensure that each building it manages on behalf of program investors is as efficient as possible,” said Kent Peters (top left photo), executive vice president, Asset Management, Grubb & Ellis Realty Investors.

“Receipt of the Energy Star designation is a testament to the professionalism and dedication of the onsite management team, whom I am pleased to congratulate.”

200 Galleria is professionally managed by Brett Earp, vice president of Asset Management, Grubb & Ellis Realty Investors, who is joined by a property management team headed by Deborah Warren of Grubb & Ellis Company. Warren’s team includes: Tori Nutting, tenant service coordinator; Ronald Durmire, chief engineer; Sean Trevino, engineer; and Paul Andrews, engineer.

Acquired in Jan. 2007, 200 Galleria offers more than 438,000 square feet of rentable area and is situated within the 85-acre Galleria shopping (bottom right photo) and office complex in Atlanta.

The exterior of the building features polished rose granite with solar reflective silver insulated glass. The property’s well-appointed interior includes two three-story atriums paved with matching granite, several large area rugs and state-of-the-art touch screen directories.

Conveniently located at the intersection of Interstates 285 and 75, 200 Galleria offers immediate access to US 41 and is in close proximity to Hartsfield International Airport. A seven-level parking facility with more than 2,500 spaces provides the property with plentiful parking.


Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2659,

Glimcher Announces Mortgage Financing for Grand Central Mall in Vienna, WVA

Financing on Polaris Lifestyle Center expected to close during the First Quarter of 2009

COLUMBUS, OH /PRNewswire-FirstCall/ -- Glimcher Realty Trust (NYSE:GRT) announced that it has closed on a $25 million mortgage loan on Grand Central Mall located in Vienna, West Virginia. (bottom left map)

For a period of up to six months after the initial funding, the loan amount can be increased up to $47 million through additional commitments from lenders.

The $25 million of funds were applied to the repayment of the existing $46 million loan on the mall with the balance of the existing mortgage paid using funds from the company's line of credit.

The new loan has a term of five years comprised of an initial three-year maturity with two, one-year extension options.
The loan is 50% recourse with a floating interest rate of LIBOR plus 3.50% per annum with an interest rate floor of 5.50% per annum.
Shortly after closing on the new loan, the company sold an outparcel at Grand Central Mall for approximately $5 million. The proceeds from this sale were used to repay outstanding borrowings on the company's line of credit.

The company also announced that it expects to close during the first quarter of 2009 on a $24 million mortgage loan financing of the company's recently completed lifestyle addition at Polaris Fashion Place ("Polaris") in Columbus, Ohio. (top right photo)

Proceeds from the Polaris financing will be used to repay outstanding borrowings on the company's line of credit.

Lisa A. Indest, Vice President, Finance and Accounting of Glimcher Realty Trust, +1-614-887-5844,

Berkeley Commons in Goldsboro, NC Sells for $19M

GOLDSBORO, N.C., Feb. 5, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Berkeley Commons, (top right photo) a 136,827-square foot shopping center in Goldsboro.

The sales price of $19 million represents a 7.69 percent cap rate.

Alvin Mansour, (top left photo) a first vice president investments and senior director of Marcus & Millichap’s National Retail Group in San Diego, represented the seller.
Steven Siegel, a vice president investments and senior director of Marcus & Millichap’s National Retail Group in Manhattan, represented the buyer. The Charlotte office of Marcus & Millichap assisted in closing this transaction.

“National tenants comprise more than 95 percent of the center’s occupancy and account for more than 90 percent of the income stream,” says Mansour.

Constructed in 2006, Berkeley Commons is anchored by Bed Bath & Beyond, Old Navy, Ross and TJ Maxx, and boasts a diverse mix of tenants including Lane Bryant, H&R Block, Rue 21, Radio Shack, Maurices, Rack Room Shoes, Fashion Nails, Bailey’s Jewelry, Empire Fire Mongolian Restaurant and Cold Stone Creamery.

Located at 1201-1303 Berkeley Boulevard, the multi-tenant shopping center receives excellent exposure along one of the area’s main traffic arteries within a booming retail corridor.

Berkeley Boulevard experiences traffic counts of 29,000 vehicles per day and traffic counts along nearby U.S. Highway 70 exceed 70,000 vehicles per day.

Located in eastern North Carolina, Goldsboro is the county seat of Wayne County and is home to Seymour Johnson Air Force Base and the 4th Fighter Wing.
Press Contact: Stacey CorsoCommunications Department(925) 953-1716

Concord Hospitality Celebrates First “Share Day” with $43,000 Donation to Feed The Children Organization

Contribution and Volunteers to Help Distribute Food and Sundries to More Than 2,400 Families in Six Cities in U.S. and Canada

RALEIGH-DURHAM, NC, Feb. 5, 2009—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that it has donated $43,000 to Feed the Children, a contribution that will provide one week’s worth of food and sundries to more than 2,400 families in six cities across North America.

The donation is a part of Concord’s first “Share Day,” and will pay for the transportation costs of goods to FTC receiving organizations.

A total of more than 150 Concord associates, about 25 in each location, will help unload and distribute the supplies. Benefiting families will be present at each receiving organization.

Feed The Children is a non-profit relief organization that delivers food, medicine, clothing and other necessities to children and families who lack them due to famine, war, poverty or natural disaster.

“Concord believes in supporting the communities that our properties call home,” said Mark G. Laport, (top right photo) president and CEO of Concord.

“It is one of our founding cornerstones. Share Day is a natural extension of that cornerstone—it exemplifies our character as a company and the character of our associates. We consider volunteer work to be an important corporate responsibility, particularly in times of economic hardship.

Contacts: Melanie Boyer, Jerry Daly, (703) 435-6293