Thursday, February 26, 2009

Hunter Realty Associates, Inc., Brokers Comfort Inn for Supertel

ATLANTA/Washington, D.C./GETTYSBURG, PA—Hunter Realty Associates, Inc., a leading national hotel investment services firm, represented Supertel Hospitality, Inc. (NASDAQ: SPPR) in the $4.7 million sale of the 80-room Comfort Inn (top right photo) in Gettysburg, Pa., to Zrii LLC.

The hotel is scheduled to complete a refurbishment that will refresh the property to the latest brand standards.

“Supertel achieved a good return on its investment, and Zrii LLC, a quality owner/operator, expects to achieve economies of scale to provide upside potential for their investment. This created a win-win situation for both the buyer and seller,” said Kyle Stevenson, (top left photo) managing director of Hunter Realty.

“Gettysburg is an above-average market with multiple demand generators. We marketed the property discreetly, which avoided any property-level disruptions.

Located at 871 York Road, in Gettysburg, Pa., the Comfort Inn is one mile from the historic downtown area and minutes from the Gettysburg National Military Park and Gettysburg College.

In addition, the hotel is near Gettysburg Battle Theater, the Eisenhower National Historic Site, and Boyds Bear Country, known as the “World’s Most Humongous Teddy Bear Store.”

The hotel features an indoor pool, free continental breakfast, a business center and is pet-friendly.

“While financing is difficult in today’s economy, we worked closely with Zrii LLC to help facilitate the financing, which was accomplished through a SBA 504 loan,” Stevenson noted.

“Transactions under $10 million involving experienced owners are still attractive to lenders.

We closed the transaction in about 75 days from contract signing. This will definitely be the year of the smaller transaction, as the rest of the market sorts itself out.”

Contact: Melanie Boyer, media, (703) 435-6293,

Top Brokers at NAI Realvest Feted at Annual NAIOP Awards Banquet

MAITLAND, FL - Three of the top commercial property brokers at NAIRealvest in Maitland were recognized at the annual "Best of the Best" GalaAwards Banquet, sponsored by the NAIOP Central Florida Chapter recently at Sea World's Ports of Call.

Michael Heidrich, (top right photo) a principal of the firm who has been with NAI Realvest as a commercial property broker for 20 years, placed among the top three inthe 2008 Industrial Broker of the Year competition.

The NAI Realvest team of Kevin O'Connor (top left photo) and Matt Cichocki, (midle right photo) who have been with NAI Realvest for seven years and five years respectively, were among the top three winners in the Land Broker of the Year competition.

NAI Realvest client MAS Companies won NAIOP's Development of the Year award for its Cypress Park development at 1611 Cypress Lake Drive in Orlando.

Heidrich serves as leasing agent for the industrial center and NAI Realvest chairman George Livingston (middle left photo) and principal Christie Alexander (bottom right photo) brokered theoriginal land sale to develop the project.NAI Realvest was a Gold sponsor of the event.

For more information, please contact:

George Livingston, Chairman, NAI Realvest, 407 875 9989,;

Janice Paiano, Director of Marketing, NAI Realvest, 407 975;

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

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. NAIOP comprises 18,000 members in North America.

NAIOP advances responsible commercial real estate development and advocates for effective public policy.

For more information, visit

NAI Realvest in Orlando, covering all of Central Florida, is a fullyintegrated commercial real estate operating company specializing inbrokerage, development, investment, leasing and management, consulting andresearch services in the U.S. and worldwide.

Tampa Office Vacancy Almost 6M SF

TAMPA, FL--Randy Smith (top right photo), regional director of research, GVA Advantis, reports on the fourth-quarter Tampa office market:

The forces of the declining economy in 2008 continued to erode Tampa’s office market fundamentals in the fourth quarter.

The broad-based downsizing of corporate payrolls and the completion of several significant new office projects pushed Tampa’s total office vacancy to almost 6 million square feet by year-end.

The market’s direct vacancy rate increased 210 basis points during the final period of 2008, ending at 16.5 percent – a level last reached four years ago. Still, face rents for Tampa office space have remained resilient against the downturn so far, averaging $22.63 per square foot at the close of 2008.

It appears that 2009 will be a challenging year, at best, for the Tampa market and most areas of the country.

Economic activity fell off sharply in the fourth quarter of 2008 and very little improvement is expected until at least the latter part of 2009.

Demand for local office space is expected to remain subdued during the year and rising unemployment will contribute to additional vacancies in the market.

Rents will remain under pressure in 2009 as the Tampa office market struggles to regain its legs. Landlords will continue to focus on tenant retention in order to secure cash flows for their properties.

The incentives offered to tenants will ramp up as landlords work to extend and renew existing leases.

For a complete copy of the report, please contact:

Randy Smith, MBA, Regional Director of Research, Advantis Real Estate Services Company,
3000 Bayport Drive, Suite 100, Tampa, FL 33607. Tel 813.342.4725. Fax 813.372.4004. E-mail

Great Wolf Resorts Reports Fourth Quarter 2008 Results Exceed Consensus Estimates

Company Beats Top End of Guidance for Adjusted EBITDA

MADISON, WI/PRNewswire-FirstCall/ -- Great Wolf Resorts, Inc. (Nasdaq: WOLF), North America's leading family of indoor waterpark resorts, reports results for the fourth quarter and year ended December 31, 2008.


-- Achieved 2008 fourth quarter Adjusted EBITDA of $11.1 million, which was significantly above consensus analysts' estimates of $8.6 million and above the company's previously issued fourth quarter guidance range of $6.6- $10.6 million.

Adjusted EBITDA for the full year 2008 was $67.6 million, also above consensus estimates and guidance.

-- Reported a 7.9 percent decline in 2008 fourth quarter Great Wolf Lodge(R) brand same store revenue per available room (RevPAR), compared to a hotel industry average decline of 9.8 percent, according to Smith Travel Research data.

The company's same store RevPAR for the full year was up 0.8 percent, compared to an industry decline of 1.9 percent.

For a complete copy of the company's news release and full financials, please contact Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297,

Lodgian Reports 2008 Fourth Quarter and Full-Year 2008 Results

ATLANTA, GA /PRNewswire-FirstCall/ -- Lodgian, Inc. (Amex: LGN), one of the nation's largest independent owners and operators of full-service hotels, reports results for the fourth quarter and full year ended December 31, 2008.

The "35 continuing operations hotels" comprise those Lodgian properties that are not held for sale as of December 31, 2008. Lists of properties, both continuing operations and held for sale, are attached to this press release.

Fourth Quarter 2008 Highlights for 35 Continuing Operations Hotels

-- Reduced corporate overhead by $1.2 million in the 2008 fourth quarter compared to the 2007 fourth quarter.
-- Increased revenue per available room (RevPAR) index by 3.9 percent in the 2008 fourth quarter over the 2007 fourth quarter, to 101.7 percent.
-- Experienced a 4.9 percent decrease in RevPAR in the 2008 fourth quarter over the 2007 fourth quarter, compared to a 9.8 percent decrease in the same period for the U.S. industry as a whole, according to Smith Travel Research.

For a complete copy of the company's news release and full financials, please contact Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297,