Wednesday, August 5, 2009

Regency Centers Reports Lower FFO and Net Income

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) announced today financial and operating results for the quarter and six months ended June 30, 2009.

(Martin 'Hap' Stein, top right photo, is Regency's chairman and CEO)

Earnings and Operations
Funds From Operations (FFO) before impairments for the second quarter was $47.9 million, or $0.61 per diluted share, compared to $68.3 million and $0.97 per diluted share for the same period in 2008.

For the six months ended June 30, 2009, FFO before impairments was $102.9 million or $1.39 per diluted share, compared to $130.2 million or $1.85 per diluted share for the same period last year, a per share decrease of 25%. The change in FFO per share is primarily related to lower net operating income, higher interest expense and lower transaction profits and fee income compared to 2008.

Funds From Operations (FFO) after impairments for the second quarter was $19.2 million, or $0.24 per diluted share, compared to $68.3 million and $0.97 per diluted share for the same period in 2008.

For the six months ended June 30, 2009, FFO after impairments was $74.2 million or $1.00 per diluted share, compared to $129.5 million or $1.84 per diluted share for the same period last year, a per share decrease of 46%.
Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental earnings measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry.

Net loss attributable to common stockholders for the quarter was $17.2 million, or $0.23 per diluted share, compared to net income of $31.9 million and $0.45 per diluted share for the same period in 2008.

Net income for the six months ended June 30, 2009, was $2.4 million or $0.03 per diluted share, compared to $58.6 million and $0.83 per diluted share for the first half of 2008.

The net loss for the quarter and the decline year over year is primarily due to $27.3 million of FFO impairments for two wholly owned Regency shopping centers, two out parcels and 13 properties in the MCW II partnership that are now targeted for sale over the next three years.

For a complete copy of the company's release and financials, please contact Lisa Palmer, 904-598-7636.

Consumers Rank Microtel Leading Brand in Economy/Budget Segment for Unprecedented 8th Consecutive Year

PARSIPPANY, N.J. (Aug. 5, 2009) – For an unprecedented 8th consecutive year, the Microtel Inns & Suites® hotel brand (top right photo) was ranked by consumers as “Highest in Guest Satisfaction among Economy/Budget Hotel Chains” in a study conducted by J.D. Power and Associates, the global marketing information services company.

No other brand has ever ranked highest in guest satisfaction eight years in a row, regardless of segment.

Microtel Inns & Suites ranked highest in all seven guest satisfaction measures including reservations, check-in/check-out, guest room, food and beverage, hotel services, hotel facilities, and costs and fees.

“Microtel continues to raise the bar on consistency and satisfaction, delighting the customer with accommodations and service typically not expected from an economy brand,” said Roy E. Flora, group president of Wyndham Hotel Group’s Microtel Inns & Suites brand.
“Our product and the level of service we deliver are what help us to rank at the top of consumer studies year-after-year.”


Christine Da Silva, 973-753-6590,

HFF places $38.4M loan with Freddie Mac for Littleton, CO multifamily community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has placed a $38.4 million loan with Freddie Mac for AMLI at Park Meadows, (top right photo) a 518-unit multifamily community in Littleton, Colorado.

HFF senior managing director Mona Carlton (bottom left photo) worked exclusively on behalf of the borrower, AMLI Residential Properties.

Freddie Mac provided the seven-year, adjustable-rate loan, which is refinancing an existing loan.

AMLI at Park Meadows is sitated on a 33.7-acre site at 10200 Park Meadows Drive within walking distance to the Lincoln Light Rail in Littleton, approximately nine miles south of Denver.

The 94% leased property was completed in 2000 and has units averaging 1,029 square feet each. Community amenities include a pool plaza with outdoor spa, fitness center with climbing wall, tennis, volleyball and basketball courts, a putting green and a private movie theatre.

“Given its transit-oriented location and close proximity to popular shopping, dining and Denver’s largest employment area, the Denver Tech Center, the property is expected to maintain its strong rent growth and low vacancy moving forward,” said Carlton.

AMLI Residential Properties Trust, a national firm focused on the development, acquisition and management of luxury apartment communities, currently owns and operates in excess of 23,450 units.
Mona K. Carlton, Senior Managing Director, (214) 265-0880,
Kristen M. Murphy, HFF Associate Director Marketing, (713) 852-3500,

Avalon Park wins Three Top Awards at Orange County, FL Neighborhood Services Community Conference

ORLANDO, FL--- Avalon Park in east Orlando won three top awards during the recent Orange County Neighborhood Services Community Conference.

Stephanie Hodson, marketing coordinator at Avalon Park Group, said developer Beat Kähli, (top right photo) who heads Avalon Park Group, was presented a special award for Excellence in Leadership in 2009.

Avalon Park won two community awards, Hodson said.

Avalon Park was named Orange County’s Clean and Attractive Neighborhood of the Year, and won a second award for Excellence in Safety and Security Initiatives. The awards were accepted by Tracy Durham, Avalon Park Property Owners Association Manager.

(Downtown Avalon Park, bottom left photo)
For more information, contact:

Stephanie Hodson, Marketing Coordinator, Avalon Park Group, 407-658-6565
Beat Kahli, Owner/Founder, Avalon Park Group, 407-658-6565

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

Stan Johnson Co. Completes Sale of 83,000-SF Net Lease Office Building in Springville, UT for $14M

SPRINGVILLE, UT, Aug. 5, 2009 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of an 82,945-square-foot office building, 100 percent leased to Neways International Inc, to Duluth, GA-based Springville LLC for $14 million.

The property is located at 2089 W. Neways Drive in Springville, Utah.
Stan Johnson (top right photo) is the company's CEO.

Brad Pepin (middle left photo) of Team Hughes with Stan Johnson Company represented the seller, Dallas-based Cardinal Capital Partners. Tom Mullen of United Country –Tom Mullen & Associates represented the buyer.

"This transaction was a win/win for both buyer and seller,” said Pepin. “The buyer was able to assume better-than-market non-recourse financing that generated double-digit returns, while the seller was able to monetize the asset as part of their portfolio management strategy."

Pepin went on to say, "In today's market environment, it's rare to see large net lease office transactions being done. This $14 million class A office sale was priced correctly with the assumable debt in place, and was closed with a buyer that has a strong track record in commercial real estate.

We're firm believers that large office, industrial and retail transactions can still get done today if you properly manage expectations on both sides.”
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms.

Our net lease group is the largest team of professionals focused exclusively on the acquisition, disposition, and financing of net leased real estate.

Building on our 20 plus year foundation in the single tenant net lease industry, completing more than $8 Billion in transactions nationwide, Stan Johnson Company is aligned for continued growth.
A dynamic team approach, refined marketing processes and a foundation built on integrity, professionalism and relationships create a winning combination enabling the firm to consistently deliver quality service and superior results to each unique client.

Contact: David Ebeling, Ebeling Communications (949) 278-7851

Wilson Commercial Real Estate Completes Successful First Half of 2009

LOS ANGELES, CA, Aug. 5, 2009 – Wilson Commercial Real Estate, Southern California’s leading retail brokerage firm, had a successful first half of 2009, despite the adverse effects the economy had on the retail sector of the commercial real estate industry.

Currently the company leases over 90 retail properties totaling 8.3 million square feet, including 41 retail boxes representing 2.4 million square feet in Southern and Central California.

Thus far, in 2009, the company has executed 19 leases totaling approximately $11 million.

Some of the leasing highlights include the following:

· Ross Dress For Less: 30,000 square feet in Riverside, Calif.
· Mor Furniture: 38,000 square feet in Murrieta, Calif.
· Unleashed by Petco: 5,057 square feet in Simi Valley, Calif. · Lotus Furniture: 3,641 square feet in Studio City, Calif.
· The Habit: 2,280 square feet in Burbank, Calif.
· Menchies Frozen Yogurt: 2,022 square feet in Chatsworth, Calif.

Wilson Commercial Real Estate has also added leasing assignments for the following new clients:

· Regency Centers: Granada Village (Granada Hills, Calif.)
· Robertson Properties: Rancho Marketplace (Burbank, Calif.) and Winnetka Entertainment Center (Chatsworth, Calif.)

Other highlights include:

In 2009 WCRE expanded it services to include a high-profile tenant-representative assignment for Dollar Tree Services, Inc. WCRE formed a partnership with the tenant representative services team at Studley (Newport Beach) to implement Dollar Tree’s expansion plan into the Ventura, Los Angeles, Orange, San Bernardino, Riverside, and Kern county markets.

About Wilson Commercial Real Estate

Christopher A. Wilson (top right photo) is president of the company. Founded in 1990, Wilson Commercial Real Estate has leased and sold over 5 million square feet of retail space with an aggregate consideration of nearly $750 million.

The company currently represents more than 8 million square feet of retail space in approximately 90 properties throughout Southern California.

In 2008, Wilson Commercial Real Estate formed an Investment Sales Group that provides a complete range of investment sales services for their clients’ acquisition and disposition requirements.

For more information, please visit

Contact: David Ebeling Ebeling Communications (949) 278-7851

New Faces and Places at Marcus & Millichap


PHILADELPHIA, PA– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Brad Nathanson (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 Spencer I. Yablon, regional manager in the firm’s Philadelphia office.

Nathanson began his career with Marcus & Millichap in 2003, specializing in the sale of retail properties.


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


Babaian began his career with Marcus & Millichap in 2000, specializing in the sale of retail and multi-family properties.

Sgambati began his career with Marcus & Millichap in 1997, specializing in retail and office and industrial properties.


In Chicago, John Olar (bottom left photo under Ben Sgambati photo) and Michael Bennett (bottom right photo under Greg Babaian photo) were promoted to vice president investments. John M. Przybyla is , vice president and regional manager in the firm’s Chicago Downtown office.

Olar began his career with Marcus & Millichap in 2003, specializing in the sale of multi-family properties. Bennett also began his career with Marcus & Millichap in 2003. He specializes in arranging the sale of retail properties.

Himan began his career with Marcus & Millichap in 2000, specializing in multi-family investment sales.

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

HFF closes sale of one of Arlington, Virginia’s most recent mixed-use projects

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Zoso, (top left rendering) a 114-unit multifamily community with 20,000 square feet of ground-level retail and office space in Arlington, Virginia.

The investment sales team was led by directors Dave Nachison (bottom right photo) and Alan Davis (bottom left photo) in HFF’s Washington, D.C. office who represented the seller, Ed Peete Company.

Simpson Housing, L.P. purchased Zoso upon lease-up.
Completed in 2008, Zoso has one- and two-bedroom units averaging 941 square feet each.

The property features a rooftop garden and terrace as well as a secured underground parking garage.
Located at 1025 Fillmore Street in the Clarendon neighborhood of Arlington, Zoso is convenient to the Clarendon Metro Station providing access to downtown Washington, D.C. as well as the shops, restaurants and services of Clarendon.

“Zoso’s fantastic location within walking distance of the best amenities in Arlington and its unmatched luxury has made Zoso the most highly regarded ‘boutique’ apartment building in the sought after Rosslyn/Ballston corridor, commanding the highest rents in the market,” said Nachison.

“Leasing of the commercial space is well underway at the property and will add terrific upscale amenities to complement the best-of-class building and neighborhood,” added Davis.
The Ed Peete Company is an Arlington, Virginia-based, high-end residential developer that has completed several Washington, D.C. area projects including Joule, Io Piazza and Zoso.

Headquartered in Denver, Colorado, Simpson Housing, L.P. is a fully-integrated real estate firm that is organized to deliver a comprehensive range of real estate services primarily focusing on multifamily property management and development.


David R. Nachison, HFF Director, (202) 533-2500,
Alan M. Davis, HFF Director, (202) 533-2500,
Kristen M. Murphy, Associate Director, Marketing, (713) 852-3500,

Seasons 52 Announces Plan to Open New Restaurant in Schaumburg, IL

ORLANDO, FL -- Seasons 52, the popular fresh grill and wine bar restaurant, has selected Schaumburg, Illinois, as their next site for expansion.

Expected to open in spring 2010, the new restaurant is located directly across from Woodfield Mall and will be the company's first location in the Midwest, increasing the total number of Seasons 52 restaurants to 11

Seasons 52 has been recognized as a forward-thinking restaurant concept with proven consumer appeal. Known for its seasonally inspired menu and fresh approach to dining, the award-winning concept has capitalized on the growing consumer interest in fresher seasonal foods that offer positive lifestyle benefits.

Leading the strategic growth plan for Seasons 52 is company President Stephen Judge, (bottom right photo) who is focused on securing premium real estate locations to fuel the concept's expansion.

"As the commercial retail hub of Chicago's northwest suburbs, Schaumburg is an ideal location for Seasons 52," said Judge. "We're also excited to be situated across from Woodfield Mall, one of the largest malls in America, with popular and upscale retailers that provide a lifestyle environment compatible with the Seasons 52 concept."

CONTACT: Rachel Summers, +1-215-875-4365 direct, +1-215-545-6293 fax,,


Michael Cianfrone, +1-856-782-5609 direct,

RealtyTrac Expands Partnership with Homefinder.Com

IRVINE, CA, Aug. 5, 2009 – RealtyTrac™ (, the leading online marketplace for foreclosure properties, and (, one of the most trusted sources for consumers to find a home online and connect with real estate professionals, today announced a new agreement and strategic partnership.

Effective immediately, real-time foreclosure data from RealtyTrac’s nationwide database of default, auction and bank-owned homes are searchable on and its national media network ( of 130+ newspaper sites.

“The network includes some of the most trusted and powerful media brands in the country’s largest markets where foreclosures are at an all time high, and we’re committed to helping the industry aggressively market and sell these properties.” said Rick Sharga, (top left photo) senior vice president at RealtyTrac.

“ offers RealtyTrac an inclusive partnership with both a powerful media reach and a broad and relevant news audience that’s a natural fit for our foreclosure listings as well as our robust statistical data.”

Contact: Tammy Chan Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682

Interstate Hotels & Resorts Reports Second-Quarter 2009 Results

ARLINGTON, VA, Aug. 5, 2009—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor ad the nation’s largest independent hotel management company, today reported operating results for the second quarter ended June 30, 2009.
Year-to-Date (YTD)

“I am very pleased with the significant progress we have made on our capital structure,” said Thomas F. Hewitt, (top right photo) chairman and chief executive officer.

“We extended our senior credit facility to March 2012 well in advance of its original expiration date. This, along with our successful appeal of the NYSE’s ruling to suspend the trading of our stock, has provided stability to our capital structure in an extremely volatile market.

“With these hurdles behind us, we continue to focus our efforts on growing our third party management business while preserving our capital and liquidity and maximizing profits.”

Hewitt added. “Despite the challenging operating climate and RevPAR declines in excess of 20 percent, we maintained our second quarter Adjusted EBITDA year over year, which is a result of the cost reduction initiatives we implemented in January.”

For a complete copy of the company's release and financials, please contact Carrie McIntyre, SVP, Treasurer, (703) 387-3320.

Sheraton officially debuts in Songdo City, Korea, with opening of Sheraton Incheon Hotel

INCHEON, KOREA– The much anticipated Sheraton Incheon Hotel officially opens its doors this week.

The opening of the hotel was graced by The Honorable Ahn Sang-soo, Mayor of Incheon, Chairman Park, ChanBub of KUMHO Asiana Group and Mr Lothar Pehl, Regional Vice-President, Starwood Hotels & Resorts for Japan/Korea/Guam region.

The opening is timely as it coincides with debut of one of the largest conventions at Songdo City, which takes place at Songdo Conventia, right next to Sheraton Incheon Hotel.

Sheraton Incheon Hotel sits at the heart of Korea’s most exciting business development: the Incheon Free Economic Zone. Sheraton Incheon Hotel celebrates its opening today with a number of ‘firsts’ in the industry in Korea:

Songdo’s first international deluxe five-star hotel; the first LEED rated (Leadership in Energy and Environmental Design) hotel in Korea; and the first fully non-smoking hotel in Korea and – the entire hotel is built using eco-friendly methods.

Hwee-Peng Yeo, Tel : +65 6335 4837; Cell : +65 9768 6087; +65 9248 0424
Fax : +65 6335 4820;