Tuesday, March 2, 2010

Arbor Appoints Todd Marans to FHA Deputy Chief Underwriter

UNIONDALE, NY  (Mar. 2, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, has announced today the appointment of Todd Marans (top right photo) to FHA Deputy Chief Underwriter.

 He reports to Thomas Dodge, FHA Chief Underwriter and will be based out of the Company’s San Francisco office.

Mr. Marans oversees the processing and underwriting of multifamily and healthcare loans under the FHA Mortgage Insurance Programs. Additionally, he will ensure the Company’s compliance with HUD, MAP and LEAN requirements.

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

Orange County, FL Resort Tax Collections for January Down 10%

ORLANDO, FLORIDA -- Orange County Comptroller Martha Haynie  (top right photo) announced today that resort tax collections received by the County in February for the hotel collection month of January 2010 were $11,588,200. Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that January 2010 collections were nearly 10 percent lower than January 2009. “This drop on the heels of last month’s leveling off shows us that the tourist economy is not yet coming out of the recession,” Haynie stated.

For a complete copy of the report, please contact:
Martha O. Haynie,  (407) 836-5690

Joan Randolph, PH 407-836-5986, Fax: 407-836-5599

HFF named to market for sale The Shoppes at Chino Hills in Chino, CA

IRVINE, CA – The Orange County office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale The Shoppes at Chino Hills, (above centered photo)  a 380,000-square-foot trophy lifestyle center in Chino Hills, California.

HFF senior managing director Ryan Gallagher (middle right photo)  and directors Kelly Rohfeld, (bottom  left photo) Bryan Ley and John Crump will market the property on behalf of the seller, a bank consortium group. There is no formal asking price for the property.

Located at 13800-13920 Village Center Drive in Chino Hills, The Shoppes at Chino Hills is part of a larger master planned project that includes the Chino Hills Civic Center, Chino Hills City Hall, Chino Hills Police station and the public library.

 The property was designed by Altoon + Porter architects and was completed in 2008. The 87% leased property is anchored by XXI Forever, H&M, Trader Joes, Banana Republic, Victoria’s Secret and Barnes and Noble.

“This is a really rare opportunity to pick up a trophy asset, at a discount, 18 months after it was developed," Gallagher says.

"This is an asset that would not be available if it hadn't been for the entity-level bankruptcy of Opus West,” added Gallagher.


Ryan Gallagher, Ca. Lic. # 01269918, HFF Senior Managing Director, (949) 253-8800, rgallagher@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF Closes Sale of Gaithersburg, MD Office/Lab Buildings

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 55 and 65 West Watkins Mill Road, two flex office lab buildings totaling 82,405 square feet in Gaithersburg, Maryland.

HFF senior managing directors Jim Meisel (top right photo) and Dek Potts (top left photo) and senior real estate analyst Jimmy Barter led the investment sales team on behalf of the seller, RREEF. BioMed Realty Trust purchased the property for $14.385 million free and clear of debt.

55 and 65 West Watkins Mill Road are within Bennington Corporate Center in the Interstate 270 corridor in Gaithersburg, Maryland.

Completed in 1999, the properties consist of a 39,505-square-foot, two-story office building and a 42,900-square-foot single-story lab/office building. 55 West Watkins Mill Road is fully leased to MedImmune, and GenVec leases the entire 65 West Watkins Mill Road.

“This product clearly fits very well for BioMed as they seek to add to their Maryland portfolio,” said Meisel.

 RREEF Real Estate acquires and manages investments in commercial and residential property, and real estate securities on behalf of its institutional and private clients worldwide.

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. BioMed acquires, develops, owns and operates laboratory and office space.

James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com
Stephen "Dek" Potts Jr., HFF Senior Managing Director, (202) 533-2500, dpotts@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Specialized Asset Management Launches Partnership with RealtyTrac

HIGHLANDS RANCH, CO. – Mar.  2, 2010 – Specialized Asset Management LLC (https://www.samreo.net), a national provider of asset marketing and disposition services to mortgage lenders, servicers, and investors, recently announced that it has partnered with RealtyTrac (www.realtytrac.com), the leading online foreclosure marketplace for default, auction and bank-owned REOs.

 The partnership gives additional market exposure for foreclosed property listings provided by Specialized Asset Management LLC, displaying them prominently to RealtyTrac’s 3 million unique monthly visitors.

“Marketing our REO assets to RealtyTrac’s 3 million unique monthly visitors provides us with additional marketing visibility to help liquidate our REO assets,” said Rudy Krupka, (top right photo)  Vice President, REO, at Specialized Asset Management. “Our strategic partnership with RealtyTrac will assist our agents in promoting the properties to interested buyers across the country.”

Media contact: Tammy Chan, Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682, tammy@atomicpr.com

Ardaman's Trillian Baldassari takes home two ASCE awards

ORLANDO, FL, Mar.  2, 2010 —Trillian Baldassari,  EI, EPI, an engineer at Ardaman & Associates Inc., was honored twice during National Engineers Week by the Eastern Regional Younger Member Council of the American Society of Civil Engineers.

Baldassari took home the Outstanding Younger Member in Community Activities Award and the Outstanding Younger Member Group Community Service Project Award presented at the organization’s annual banquet held on Saturday, February 13, 2010 at Azios downtown in Atlanta, GA.

Baldassari is a staff engineer with Ardaman’s water resources group. She has a Master of Science in Environmental Engineering and a Bachelor of Science in Environmental Engineering from the University of Central Florida in Orlando, Fla.

Along with her active participation in the American Society of Civil Engineers, Baldassari is a member of Women in the Environment and Engineers Without Borders.

Ardaman secures continuing services contracts with Sarasota school board

ORLANDO, FL, Mar.  2, 2010 — Ardaman & Associates Inc. has secured a three-year continuing services contract from Sarasota County Schools.

Under its scope of services, Ardaman is providing geotechnical engineering, soils testing, materials testing and threshold building inspection services on an as needed basis for facilities and properties throughout the district. Engineering fees for this contract will be awarded per task order based on an approved unit fee schedule.

PR Contact: Elaine Ingra, 407-384-1344, elainei@pr-works.com

Matt McGregor Joins Grubb & Ellis as Senior Vice President, Industrial Group

SEATTLE (March 1, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Matt McGregor (top right photo)  has joined the company as senior vice president, Industrial Group. He will continue his focus on tenant and landlord representation and acquisitions and dispositions in the Puget Sound industrial market.

“Matt is a valuable addition to our office. He is a talented, well-respected professional in Puget Sound and represents many quality clients,” said Bill Condon, managing director of Grubb & Ellis’ Seattle office. “I couldn’t be more pleased that he is joining our team.”

McGregor joins Grubb & Ellis from Cushman & Wakefield of Washington Inc., where he served as senior director, Industrial Advisory Services Group.
Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

Paul Buckingham Joins Grubb & Ellis as Senior Vice President, Office Group

ROSEMONT, IL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that 19-year commercial real estate veteran Paul N. Buckingham has joined the firm as senior vice president, Office Group, effective immediately.

In this role, Buckingham will provide tenant representation services for clients in the North, Northwest and O’Hare submarkets, as well as corporate accounts with multi-market needs.

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