Thursday, April 9, 2009

Chase Opens Walk-In Mortgage Help Centers in DC, MD and VA

All 24 Chase Homeownership Centers Now Open to Help Families Keep Their Homes

WASHINGTON--(Business Wire))--Chase today marked the official opening of its new homeownership center to provide face-to-face help to D.C., Maryland and Virginia area families struggling with their mortgage payments.
Trained loan advisors at the center at 1350 I Street, NW, Suite 530 will help borrowers who have a home loan serviced by Chase, Washington Mutual or EMC – all now part of JPMorgan Chase.

“We created these local Homeownership Centers as a place for our borrowers to sit down and discuss their situation face-to-face with trained loan advisors in these challenging times,” said David Schneider, head of mortgage servicing at Chase.

“They are part of a wide-ranging initiative to help families stay in their homes whenever possible.”

(U.S. Capitol, top left photo)
Chase is the only large mortgage servicer in the country to open local walk-in centers to provide borrowers face-to-face loan counseling.

It now has a total of 24 homeownership centers in areas around the country with high levels of mortgage delinquencies: nine centers in California, five in Florida, two in the New York City area, and one each in the Phoenix, Denver, Atlanta, Chicago, Detroit, Las Vegas, Philadelphia and D.C. areas.

The Washington D.C. area center will feature:

Trained advisors. A team of homeownership advisors will assist customers whose circumstances have changed and are no longer able to make their scheduled monthly payment, who want to avoid foreclosure and stay in their home. The trained advisors will evaluate their finances, review possible workout options and answer any questions.

Scheduled appointments. To reduce wait time, customers are encouraged to set up an appointment in advance. They should bring documentation, including recent W-2s and tax forms, recent pay stubs and bank statements and monthly expense documentation. Also, they should bring any information, such as a hardship letter, that will help explain their current financial challenges.

A track record of helping. The advisors reflect Chase’s commitment to helping families sustain homeownership over the long term. Since 2007, Chase has helped prevent 330,000 foreclosures of Chase, WaMu and EMC loans, primarily by reducing interest rates, extending the term of the loans and providing principal deferral.

Through its own initiatives and by participating in Obama administration programs, Chase expects to help a total of more than 650,000 families by modifying more than $110 billion of home loans.

The Washington D.C. area center will be open from 10 a.m. to 7 p.m. Monday through Thursday, 9 a.m. to 6 p.m. Friday and 9 a.m. to 1 p.m. Saturday. The center can be reached directly at (202) 216-8189

. Customers who would like to receive more information can call 1-866-550-5705.
About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), which operates more than 5,000 branches and 14,000 ATMs nationally under the Chase and WaMu brands.
Chase has 168 million credit cards issued and serves consumers and small businesses through bank branches, ATMs and mortgage offices as well as through relationships with auto dealerships and schools and universities. It also serves more than 30,000 commercial banking customers.
Media: JPMorgan Chase & Co., Jennifer Zuccarelli, 212-270-7433

Industry Veteran Sheila J. Bellinger Joins Grubb & Ellis Company’s Dallas Office

DALLAS, TX– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that 16-year industry veteran Sheila J. Bellinger, (top right photo) SIOR, has joined the company’s Dallas office as vice president, specializing in tenant representation of office and industrial related transactions.

“Having served more than 350 clients on a local and national level, Sheila comes to Grubb & Ellis with high regard from the field,” said Moody Younger, executive managing director of Grubb & Ellis’ Texas offices. “She has built her relationships on trust, collaboration and results, and I am happy to welcome her to the team.”

Prior to Grubb & Ellis, Bellinger spent time at Hudson Peters Commercial and Cushman & Wakefield of Texas where she represented tenants in the office and industrial sectors.

She received Hudson Peters’ Platinum Award in 2008 service excellence and top production, and Cushman & Wakefield’s Client Service Award in 2004 and 2006, given to the broker who receives the highest client satisfaction responses.

Bellinger holds a bachelor’s degree from the University of Texas at Austin.

Julia McCartney, 714.975.2230,
Damon Elder, 714.975.2659,

CREC Named Broker for Five Florida Parcels

Land Suitable for Commercial, Residential Projects

CORAL GABLES, FL– CREC (Continental Real Estate Companies), Florida’s largest full-service commercial real estate company, has been engaged as broker for four land parcels in South Florida and one in Cape Coral with a total value of $29.75 million.

Cape Coral, Florida
· 30-acre commercial site
· $15 million
· Notes: Located in an emerging residential market with high visibility, well suited for big-box retail or mixed-use development
· Listing agent: Charles Anderson and Bob Robinson

Davie, Florida
· 6.25-acre commercial site
· $4.25 million
· Notes: Zoned for a variety of commercial uses and situated on a major commercial artery adjacent to a new Publix shopping center just west of the Florida Turnpike and just a quarter-mile south of the Seminole Hard Rock Hotel & Casino

· Listing agent: Harry Blyden (top right photo)

Plantation, Florida
· 4.25-acre commercial site
· $2.5 million
· Notes: Located on Sunrise Blvd between the Florida Turnpike and U.S. 441, the land’s hybrid commercial zoning permits retail, office or multifamily residential uses.

· Listing agent: Liran Friedman

Miami, Florida
· 2.83-acre multi-family site
· $4.8 million
· Notes: Located in the densely populated Allapattah neighborhood; zoned for high density residential and is an excellent affordable housing/tax credit development opportunity

· Listing agent: Charles Anderson and Harry Blyden

Miami, Florida
· 1.49-acre multi-family site
· $3.2 million
· Notes: Located in the densely populated Little Havana neighborhood the site is an excellent affordable housing/tax credit development opportunity.
· Listing agent: Charles Anderson and Harry Blyden

Miami Contact:
Harry Blyden, Senior Vice President, is part of CREC’s brokerage team focusing in the area of investment and property sales. Working with CREC’s multidisciplinary team of specialists. Mr. Blyden and the rest of CREC’s brokerage team provides brokerage services to private individuals, corporations, institutions as well as providing exit strategies for distressed assets for the special asset and REO departments of financial institutions, receivers and trustees.

Founded in 1989 by Chairman Warren P. Weiser and President Carol G. Brooks, CREC today is one of Florida’s largest commercial firms, managing a portfolio of more than 80 office and retail properties totaling 11 million square feet. For more information, visit

With offices in Miami, Orlando and Jacksonville, CREC provides fully integrated real estate services, including management and leasing, workout solutions, acquisition/ disposition strategies, debt/equity financing, brokerage, tenant representation, property management and construction management.

Contact: Lisa Rosario Continental Real Estate Companies "CREC" 2121 Ponce de Leon Blvd, Suite 1250 Coral Gables, Florida 33134 305-854-7342

Marcus & Millichap Expands in South, Opens Little Rock, AR Office

LITTLE ROCK, AR– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has opened a new office in Little Rock, according to Matthew Fitzgerald, (top right photo) regional manager.
The office is located at 5507 Ranch Drive, Suite 201, Little Rock, AR, 72223. The phone number is (501) 228-9600 and the fax number is (501) 868-1164.

“We are extremely excited to bring Marcus & Millichap’s national brand and unique marketing platform to Little Rock and the entire state of Arkansas,” says Fitzgerald.
“During the next several years, there will be tremendous opportunity for growth throughout the state and region.
"By acting as long-term advisers to Arkansas investors, we will assist them in acquiring both local and out-of-state investment properties.”

The office opens with an immediate local presence and market knowledge by incorporating the former CJ Cropper Co. into its national platform.

For information about the firm’s services or to inquire about career opportunities, contact Matthew Fitzgerald at, or at (501) 228-9600
Press Contact: Stacey Corso, Communications Department, (925) 953-1716 .

HFF closes $2.88M sale of Queens, New York industrial property

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of 24-20 49th Street, (top right photo) a 24,939-square-foot industrial property in Queens, New York.

HFF senior managing director Andrew Scandalios (bottom left photo) and director Jeff Julien led the investment sales team on behalf of the seller.

Criterion Group, LLC purchased the property for $2.88 million free and clear of debt.

24-20 49th Street is 100% net leased to Sabra Dipping Company, LLC, one of the leading Mediterranean food manufacturers in North America.

Located at the intersection of 49th Street and Astoria Boulevard in the borough of Queens, the property is adjacent to the Grand Central Parkway and close to Interstate 278, LaGuardia International Airport, Triborough Bridge and Manhattan.

Criterion Group, LLC is based in New York and their diversified property offerings include residential development and acquisitions; industrial and distribution; retail; office and value added repositioning.

Criterion has industry recognized expertise in asset management, real estate acquisition and sales, new development, construction management, property management and financing.


Andrew G. Scandalios, HFF Senior Managing Director, (212) 245-2425,
Jeffrey N. Julien, HFF Director, (212) 245-2425,
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500,

HFF secures $8M refinancing for Corey Place Apartments in Dallas/Fort Worth

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged an $8 million refinancing for Corey Place Apartments, (top left photo) a 276-unit multifamily community in Dallas/Fort Worth, Texas.

Working exclusively on behalf of Granite Redevelopment, LLC, HFF associate director Travis Anderson placed the 10-year, 5.76% fixed-rate loan with Wachovia Multifamily Capital, Inc. through Fannie Mae’s DUS Program.

Loan proceeds are refinancing an existing acquisition rehab loan.

Corey Place Apartments is located at 602 West Pioneer Parkway approximately 12 miles west of downtown Dallas via Interstate 30 in Grand Prairie. The property was renovated in 2008 and is currently 95% occupied.

Granite Redevelopment, LLC currently owns approximately 2,500 units and has been acquiring and rehabilitating multifamily properties for 14 years.

They are actively pursuing distressed multifamily assets in the Dallas, San Antonio and Austin markets.

Travis Anderson, HFF Associate Director, (214) 265-0880,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

HFF closes sale of five-property Houston office portfolio

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of a five-property, 157,672-square-foot office portfolio in Houston, Texas.

The HFF investment sales team was led by senior managing director Dan Miller (middle left photo) and real estate analyst Trent Agnew, who marketed the portfolio on behalf of the seller, Brookfield Asset Management.

SLS Houston Properties, LLC purchased all five properties for an undisclosed price.

The approximately 75% leased portfolio is 43% occupied by JPMorgan Chase (top right photo) with an average remaining lease term of 12.5 years. Additional tenants include local and regional companies or individuals. Two of the properties have excess land for future development.

“The length of term and credit on the JPMorgan Chase lease, coupled with the excess land and potential to increase occupancy, created interest from a number of private buyers,” said Agnew.

Individual property details are below by
Property, Address and Size:

Gulfgate, 2900 Woodridge, 54,747 Square Feet
West Oaks, 6200 Highway 6 South, 29,250 Square Feet
Westwood, 9525 Bissonnet, 23,002 Square Feet
Stafford, 11806 Wilcrest, 21,622 Square Feet
Cy Fair 13103 FM, 1960 West, 29,051 Square Feet

“Due to JPMorgan Chase’s desire to be located in highly visible locations, the portfolio has frontage on some of Houston’s busiest roadways including Interstate 45, Highway 290, Westpark Tollway/Highway 6 and US 59,” added Miller.

Brookfield Asset Management Inc. is a global asset manager focused on property, power and other infrastructure assets with approximately $80 billion of assets under management.


H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500,

Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500,