Monday, October 5, 2009

HFF secures permanent loan for ground lease near University of South Florida

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a permanent loan for a 16.3-acre ground lease located near the University of South Florida campus in Tampa, Florida.

Working exclusively on behalf of The LCP Group, HFF managing director Mark West (top right photo) placed the 10-year, fixed-rate loan with a national life insurance company. The LCP Group (previously Lepercq Capital Partners), headquartered in White Plains, New York, is a private real estate investment banking firm that has been acquiring, syndicating and overseeing real estate investments nationally since 1974.

The 49-year ground lease commenced in August 2008 and provides for five 10-year automatic extensions.


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

Pat Werner Appointed to CREW National Board

ORLANDO, FL--: Pat Werner, (top right photo)  Vice President Community and Economic Development for WELBRO Building Corporation has been appointed to the Commercial Real Estate Women’s (CREW) Network National Board of Directors for 2010.

Pat also serves on the 2009 CREW Network Resource Committee, served on the 2009 CREW Network Nominating Committee and is the current President of CREW Orlando.

She is a Past President of the Florida Economic Development Council; Past Chairwoman of the Goodwill Central Florida Board of Directors; a member of the International Economic Development Council (IEDC) and a member of the National Association Industrial Office Parks (NAIOP).

She also serves on the Heart to Heart Board a community service board to assist homeless women and children in Central Florida. Under her direction, as 2009 President of CREW Orlando, a Community Outreach Director’s position was created and this year the committee has organized participation in the Susan G. Koman Breast Cancer Walk and is coordinating the 2010 Women Builds – Habitat Project for CREWOrlando. Werner represents WELBRO Building Corporation in the company’s community, business and economic development efforts.

CREW Network is the industry’s leading advocate for the success of women in commercial real estate with 70 Chapters and over 8,000 members.
For more information,  contact:

Patricia A. Werner, CEcD, Vice President,  Community & Economic Development, WELBRO Building Corporation, Telephone: 407/475-0800; mobile: 407/766-3951. 2301 Maitland Center Pkwy, Suite 250 Maitland, Florida 32751

Patrick Walmsley Joins Madison Marquette as Managing Director

WASHINGTON, DC (Oct/ 5, 2009) - Madison Marquette announced today the appointment of Patrick W. Walmsley as Managing Director.

"Patrick is an extraordinarily talented real estate executive with a proven track record of success," said Amer Hammour, (top right photo) Chief Executive Officer of Madison Marquette. "I look forward to working with him in our efforts to make strategic acquisitions, broaden our capital base and use Madison's expertise and operating platform to add value for our strategic clients and partners."

Mr. Walmsley has overseen approximately $15 billion in property transactions over his 17-year career in commercial real estate. Prior to joining Madison Marquette, he served as a Managing Director at Eastdil Secured. Mr. Walmsley will be based out of the company's Los Angeles and New York offices.

Marcus & Millichap Capital Corp. Arranges $5.88M Loan for Oregon LIHTC Property

ALOHA, Ore., Oct 5, 2009 – Marcus & Millichap Capital Corporation (MMCC), has arranged a $5.88 million loan for the acquisition of Willow Springs, (top left photo) a 120-unit Low Income Housing Tax Credit (LITHC) property located in Aloha.

Steven Wiltshire, an associate director in the firm’s Portland office, arranged the financing package for the property.

“Typically, a specialized multifamily product with low-income housing restrictions requires an experienced client,” says Wiltshire. “We closed this tax-credit property transaction in 48 days with an investor who had no previous LITHC experience. We were able to provide confidence to the client and the lender, meet the state agencies’ and the lender’s requirements/concerns and close the transaction expeditiously.”

The interest rate was 6.05 percent fixed with a 30-year amortization schedule. Loan-to- value was 80 percent. Willow Springs was built in 1994.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716

Parkway Properties Renews 26,000-SF ClubCorp Lease at Citrus Center, Orlando, FL

 ORLANDO, FLORIDA – October 1, 2009 – Parkway Properties, Inc. (NYSE:PKY) recently renewed  the 26,000 square foot ClubCorp lease in the Citrus Center Building (top right photo)  in downtown Orlando, Florida.

The lease renews the 2,000 member Citrus Club’s top-floor dining and meeting facility, along with first floor offices and lower-level fitness center and spa through 2024. Citrus Center is a 261,000 square foot Class-A, 18-story office building that is currently 91% occupied.

“The Citrus Club has been a long-standing icon in Downtown Orlando for nearly four decades," said Lisa L. Smith, (middle left photo) Senior Vice President of Parkway Properties.

 "It is the venue for business transactions, celebrations of joyous occasions and social/networking opportunities. Parkway is proud to have been a part of its past and is looking forward to partnering with them in the future."

 “I am pleased that we were able to reach agreement with ClubCorp for the renewal of the Citrus Club," added Steven G. Rogers, (bottom right photo)  President and Chief Executive Officer of Parkway Properties.

"We have a long-standing relationship with them in Orlando, as well as other locations throughout Parkway’s portfolio. ClubCorp brings a tremendous amount of professionalism to the private clubs industry and provides a great amenity for our customers in the building and all of Downtown Orlando,”

Parkway was represented by Greg Morrison of Morrison Commercial Real Estate and ClubCorp was represented by Nan McCormick and Mike Phipps of CB Richard Ellis in the lease renewal.

Greg Morrison, CCIM, SIOR, Principal, Morrison Commercial Real Estate, 255 S. Orange Avenue, Suite 1545, Orlando, Florida 32801, 407.219.3500, 407.219.3501 fax, 407.257.8320 mobile,

Lisa L. Smith, Senior Vice President, Parkway Properties, (407) 843-6215