Monday, August 3, 2009

Grubb & Ellis Represents Lisle Portfolio LLC in Sale of 51,000-SF Office Building to Chicago Regional Council of Carpenters

ROSEMONT, IL (Aug. 3, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented Lisle Portfolio LLC, a subsidiary of Philadelphia-based Amerimar, in the sale of 51,000 square feet of office space at 4979 Indiana Ave. in Lisle to the Chicago Regional Council of Carpenters.

The purchase price was undisclosed.

The organization purchased the building with the intent of consolidating its suburban operations in one location.

Michael Fortuna, senior vice president, and Brett Ratay, vice president, both of Grubb & Ellis’ Office Group, facilitated the transaction on behalf of the seller. Jules Marling and Michael Jacobs of Real Estate Research Corporation represented the buyer.

“The property provides a centralized location in the Chicago suburbs with close proximity to major highways and other thoroughfares,” said Fortuna. “It was a good opportunity for an organization like the Chicago Regional Council of Carpenters to purchase its own facility in this marketplace.”


Contact: Erin Mays, 312.698.6735, erin.mays@grubb-ellis.com,

Arbor Closes $1,815,000 Fannie Mae DUS ® Small Loan for Belvedere Gardens in Baltimore, MD

Uniondale, NY (August 3, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,815,000 loan under the Fannie Mae DUS® Small Loan product line for the 54-unit complex known as Belvedere Gardens in Baltimore, MD.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.83 percent.

The loan was originated by Edward Petti, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “We are seeing acquisition activity picking up in the marketplace,” said Petti. “Arbor understands fully the demands of a client in an acquisition situation; in this case, it was particularly critical to be there for the client and make accommodations to facilitate this closing.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
Follow us on Twitter @ arbor1

Michael Landon Joins Grubb & Ellis as Senior Vice President

DALLAS, TX (Aug. 3, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Michael Landon, a 30-year veteran of the Dallas commercial real estate industry, has joined the company as senior vice president.

He will be responsible for serving the debt financing and equity needs of clients, expanding the office’s service offerings to include mortgage brokerage.

“This is the first time Grubb & Ellis will offer mortgage brokerage services in its Dallas office,” said Moody Younger, executive managing director, Texas. “With a professional of Mike’s caliber leading this effort, we will be able to offer our clients a new level of service.”

Landon joins Grubb & Ellis from JML Capital, which he founded in 2003 to provide real estate capital consulting throughout the Dallas and Austin markets.

Contacts:
Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com
Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com

Orange County, FL Resort Tax Collections for June Down 16%

ORLANDO, FL -- County Comptroller Martha Haynie announced today that resort tax collections received by the County in July for the hotel collection month of June 2009 were $12,259,500.

Resort taxes are charged on short-term rentals, mostly hotels and motels.
Comptroller Haynie noted that June 2009 collections were sixteen percent lower than June 2008.

“This month marks a full year of continuous monthly declines, which means that the percentages now are being benchmarked against previous year monthly declines.
" In other words, while the June 2009 collections are 16% lower than the previous June, June 2008 was already showing declining collections,” Haynie added.

CONTACT: Martha O. Haynie (407) 836-5690

Greg Findlay Named GM forWestin Siray Bay Resort & Spa in Phuket, Thailand

Regina Wilson appointed Director of Sales & Marketing

SINGAPORE– Westin Hotels & Resorts today announcement the appointment of Greg Findlay (top right photo) as General Manager and Regina Wilson (top left photo) as Director of Sales & Marketing for The Westin Siray Bay Resort, Phuket.

Findlay will play a key role in setting the strategic directions for the hotel and be responsible for all aspects of the resort while Wilson will be leading the Sales and Marketing team.

“We are thrilled to introduce the first Westin resort in Thailand! Thailand is known for the warm hospitality and friendly services and we are excited to bring travelers to Phuket a new level of personal and instinctive services in an inspiring setting of abundance green, white sandy beach and crystal clear water,” said Findlay.

Wilson joins Findlay from Le Meridien Nirwana Golf & Spa Resort, Bali as the Director of Sales & Marketing. Prior to that she was the Director of Sales at Sheraton & Westin Resorts, Denarau Island, Fiji (Complex). Wilson renews by spending time with her family and going to the spa.

Contact: Hwee-Peng Yeo, Tel : +65 6335 4837; Cell : +65 9768 6087; +65 9248 0424
Fax : +65 6335 4820
http://www.starwoodhotels.com/; http://www.starwoodpressclub.com/

New Posts and New Faces at Marcus & Millichap

MATTHEW GOCKSTETTER PROMOTED TO
VICE PRESIDENT INVESTMENTS IN COLUMBUS, OH

COLUMBUS, OH– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Matthew Gockstetter (top right photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Michael L. Glass, regional manager in the firm’s Columbus office.

Gockstetter began his career with Marcus & Millichap in 2003, specializing in multi-family properties.

ROBERT “BO” FLURRY NAMED VICE PRESIDENT INVESTMENTS IN BIRMINGHAM, AL

In Birmingham, AL, Robert “Bo” Flurry (top left photo) to the position of vice president investments. Flurry joined Marcus & Millichap in 2003 and specializes in multi-family investment sales. Matthew M. Fitzgerald is vice president and regional manager in the firm’s Birmingham office.



FOUR AGENTS NAMED TO VICE PRESIDENT INVESTMENTS IN ATLANTA

In Atlanta, Tim Giambrone, (middle right photo) Andrew Mays (midle left photo), William “Mac” McCall (middle right photo under Tim Giambrone photo) and Daniel “Sonny” Molloy (middle left photo under Andrew Mays photo) were named as vice presidents investments.

John M. Leonard is regional manager in the firm’s Atlanta office.

Giambrone began his career with Marcus & Millichap in 2003, specializing in retail properties.

Mays began his career with Marcus & Millichap in 2002, specializing in the sale of multi-family properties.

McCall began his career with Marcus & Millichap in 2002, specializing in retail property investment sales and Molloy, who began his career with Marcus & Millichap in 2003, also specializes in retail investment sales.

TWO AGENTS PROMOTED TO VICE PRESIDENT INVESTMENTS IN CLEVELAND


In Cleveland, OH, Michael Barron (middle left photo under Daniel Molloy photo) and Dan Burkons (middle right photo under William McCall photo) were named to the position of vice president investments. Michael L. Glass is regional manager in the firm’s Cleveland office.

Michael Barron began his career with Marcus & Millichap in 2003 specializing in the sale of multi-housing properties. Dan Burkons also began his career with Marcus & Millichap in 2003. He specializes in multi-family and self-storage properties.


STEVEN PEARL HIRED AS A DIRECTOR IN ST. LOUIS

In St. Louis, Steven Pearl (bottom right photo) has been hired as a multi-family investment specialist in its St. Louis office, according to Stephen Maulden, regional manager of Marcus & Millichap’s St. Louis office.

Pearl, who joins Marcus & Millichap as a director of the National Multi Housing Group, will focus on the sale of multi-family and student housing properties throughout St. Louis and the Midwest.

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