Sunday, July 31, 2011

First California Mortgage Company Has New Leadership in the Retail Division




Petaluma, CA, July 31, 2011 --(PR.com)-- First California Mortgage Company (First Cal) is pleased to announce a change in the role of Director of Retail Production.

First Cal has promoted industry veteran Steve Majerus to be the new director.

“The company has expanded the reach of its Retail Division to 10 states, 26 offices and will continue to grow. First Cal is dedicated to the success of our Loan Officers and with this change we will accelerate our Retail growth,” according to President, Christopher K. Hart (top right photo).

Majerus said, “I am excited to be stepping into this new leadership role. With the support at First Cal and the direction we are headed we will succeed and continue to grow the Retail Division at First Cal. The Loan Officers we have now are extremely capable and well equipped to provide the best home buying experience in the industry. I will see to it that we do.”

 Steve’s previous role with First Cal was Regional Vice President of Northern California. Another change in the Retail Division is Jay Talbert who is now the new Vice President of Production and Operations. Jay Talbert’s previous role with First Cal was Regional Vice President in the fast growing Southern California region. Both Steve and Jay have been extensively involved in growing the Retail Division for First Cal and will now take their leadership to the next level.

Contact Information
First Cal
Doug Thomas
707.238.3700

Energy Efficient New Homes for Sale in Austin, TX



 Austin, TX, July 31, 2011 --(PR.com)-- Buffington Homes is the market leader for energy efficient new homes for sale in Austin, TX. As of April 1, 2011, all new homes for sale in Austin built by Buffington Homes are Energy Star rated and certified by a third party inspector.

 With Energy Star certified homes in 16 communities, today’s homebuyer does not need to look far to find Austin Texas homes for sale that are capable of providing an energy efficient and environmentally friendly lifestyle, while saving thousands in utility bills.

Buffington Homes is a local Austin home builder currently building in 16 communities in the Austin and Central Texas Area. To learn more about Energy Star certified Buffington Homes for sale in Austin TX, please visit http://www.mybuffington.com or call Shawn Goodwin at (512) 913-0220.

Contact Information
Buffington Homes
Dow Wright
512-579-4800
3600 N. Capital of Texas Highway, Bldg B., Suite 170, Austin, TX 78746, USA

Signature Listings Now Providing Clients No Cost Option to Advertise Residential Real Estate for Sale




Naperville, IL, July 31, 2011 --(PR.com)-- Naperville, Illinois based real estate specialists Signature Listings have announced that they are now providing home sellers with the opportunity to advertise their residential real estate for sale at no cost.

The company hopes that by providing this exceptional service they will allow homeowners more selling opportunities as they put their property in front of the millions of Americans who now utilize online networks to search for new real estate property.

Once a home seller places their residential real estate for sale within the site’s listings, their property will be added to the site’s dynamic property database through which home buyers can set their unique buying parameters as they search for the home that meets their personal purchase requirements.

When the housing crisis hit, many were left questioning why homebuyers didn’t have the market understanding to see that they couldn’t afford the homes that they had bought.

To combat this lack of market understanding and help prevent any further problems with the American housing market, real estate specialists like Signature

Listings are now providing those who are in the market for a new home with resources that will help them to calculate how much home they can afford while also determining what are their home “must haves.” complete high value deals that secure them against fluctuating market conditions.

The company hopes that by providing both invaluable market information and real estate resources, they can play a supportive role in getting the American real estate market back on track.

Contact Information
Signature Listings
George Kolar
(888) 999-9091

MERJS Announces Grade A SW1 Office Spaces Will Soon be Available at Artillery House in London Following Substantial Refurbishment

  

London, United Kingdom, July 31, 2011 --(PR.com)-- Acting on behalf of a charitable trust, MERJS have been instructed to let 13,800 sq ft of offices at Artillery House (top left photo), 11-19 Artillery Row, London, SW1 comprising two self-contained office suites on the 3rd and 4th floors.

The SW1 offices are currently undergoing substantial refurbishment to provide modern Grade A office accommodation. For further information visit www.merjs-agency.co.uk or call +44 20 7079 3976.

"We know the commercial property available in Artillery House very well, having successfully let over 40,000 square feet of office space in the property already," said Colin Becker (middle right photo), Equity Director for MERJS
  
  "With air-conditioning and the current refurbishment bringing these offices up to grade A standard, the offices will a very pleasant working environment." Colin added;

 "Tenants also benefit from a Commissionaire, passenger Lift and under floor and perimeter trunking. There are excellent transport connections with St James's Park and Westminster Underground Stations and Victoria British Rail/Underground within easy walking distance."

"There is a great deal of flexibility with regards to this office accommodation," Colin added.

"The office suites can be acquired together or separately and either in their current condition or fully refurbished to a Grade A standard.

 “ The floors are available on an individual basis or in their entirety. On the third floor approximately 6,900 sq ft (641 sq m) are available and on the fourth floor approximately 6,900 sq ft (641 sq m). The floor areas will be confirmed once refurbishment is complete," Colin concluded.

MERJS is one of London's leading commercial property agencies, and is actively involved in selling and letting commercial property throughout Central London (London skyline photo lower left).

MERJS helps to identify and negotiate the most suitable office space to let for commercial tenants; including serviced office space requirements, refurbished offices in Central London, or a new commercial property development.

MERJS also advises a number of high profile organizations such as property companies, commercial developers, institutions and private commercial property landlords on acquiring and selling commercial investment property for sale. This involves access to a wide range of commercial investment opportunities and a detailed understanding of the Central London commercial property market.

Contact Information
MERJS
Colin Becker
+44 20 7079 3976
8-10 Hallam Street
London
W1W 6NS
United Kingdom

Rohit Communities’ New Homes in Edmonton, Canada Recognized by 2011 Alberta Awards of Excellence in Housing



Edmonton, Alberta, CANADA, July 31, 2011 --(PR.com)-- Among the 283 entries across the province and only 21 finalists named in Edmonton, three Rohit homes were selected, one of which was a local winner at CHBA Edmonton’s Awards of Excellence in March of this year, where Rohit Communities took home the coveted Multi-Family Builder of the Year title.

The refreshingly named Peach and the award winning Starfruit floor plans from the Infusion apartment condominium in Ambleside are two of just three finalists in the Multi-Family Apartment under $325,000 category.

The luxury ravine-backing duplexes, aptly coined The Villas at Callaghan Ravines (middle left and lower right photos)  also placed in Multi-Family Townhome/Duplex over $325,000.

From curb appeal and special features to creative use of space, the competition among industry leaders has never been so tight for the recognition of the Province.

“This is an amazing way to follow up our local awards and be recognized at the next level,” said Russell Dauk (top right photo), Vice-President of Land & Communities for Rohit Group of Companies.

“With so many home builders from across the province being represented as finalists, it shows health and diversity in our industry which provides the consumers with an excellent range of choices. We are proud and grateful each time we are recognized by our peers and each time a customer chooses one of our homes."

Winners are announced September 17 in Jasper, British Columbia, as part of the BUILD 2011 CHBA – Alberta Conference. Stay tuned.

Rohit Communities, a division of the Edmonton-based Rohit Group of Companies, is an award winning developer and builder of new homes in Edmonton offering new condos, townhomes, duplexes and single family homes.

 It also offers new homes in Fort McMurray and luxury condos for sale in Kelowna. Rohit Communities’ newest addition to the group is Copper Point Resort.

Contact Information
Rohit Communities
Amy Power
780-702-4288

Saturday, July 30, 2011

Cambridge Provides $9 Million HUD Lean Loan to Refinance Brittany House, a 126-Bed Assisted Living Property in Long Beach, CA



CHICAGO, IL--Cambridge Realty Capital Companies has provided a $9.04 million HUD Lean loan to refinance Brittany House (top left photo), a 126-bed assisted living facility in Long Beach, Calif.

Cambridge Chairman Jeffrey A. Davis said the fully-amortized, 34-year term loan was coordinated by National Originations Manager Hymie Barber (lower right photo) for the property’s owner, a California limited liability company. Underwriting was by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that underwrites FHA-insured HUD loans.

The lender used the HUD Section 232 pursuant to Section 223(f) funding program to refinance the loan. The interest rate was not disclosed.

 Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender/borrower relationship and identify “ideal” capital solutions for worthy projects. The company has a national origination office in Los Angeles, and numerous correspondent and brokerage relationships nationwide.

Cambridge publishes the bi-monthly e-PULSE!(R) electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients. Additional information is available on the Cambridge website, www.cambridgecap.com, and Cambridge can be reached at (312) 357-1601 or via e-mail to info@cambridgecap.com.


Contact:
Evan Washington
Phone: (312) 521-7604
Fax: (312) 357-1611

Carr Properties Announces Trophy Office Development at 4500 East West Highway, Bethesda, MD



WASHINGTON, DC--(BUSINESS WIRE)--Carr Properties (“Carr”) is pleased to announce that it has acquired the contract and development rights for 4500 East West Highway, a 223,000 square foot trophy office project located in the central business district of Bethesda, Maryland.

 4500 East West Highway (top left photo), a fully site plan approved project, is slated for construction start during the first quarter of 2012 and delivery during the first quarter of 2014.

The project will be the first trophy quality ground up office development in the Bethesda market in over ten years. 4500 East West Highway will be designed to achieve LEED Gold certification and will include a trophy quality glass fa├žade, 9 foot finished ceilings, a high quality fitness center, a roof deck and a bike storage facility.

The project’s efficient 25,000 square foot floorplate will allow for flexible tenant layouts. 4500 East West Highway offers a location that is only 700 feet from the entrance to the Bethesda Metro station and offers tremendous vehicular access via East West Highway and Montgomery Avenue.

Views of Upper Northwest DC, the National Cathedral and Columbia Country Club will be available from the upper floors.

Contacts
Carr Properties
Dominique Daschle, 202-303-3069


Maritz, Wolff Announces the Sale of Five Hotels to Cheng Family Interests




ST. LOUIS, MO--(BUSINESS WIRE)--Maritz, Wolff & Co. announced today the sale of a portfolio of hotels to the Cheng Family of Hong Kong.

The transaction included all the hotel and resort properties owned by Maritz, Wolff that are under the management of Rosewood Hotels and Resorts.

In addition, the Rosewood Corp. sold, as part of the transaction, the Rosewood Crescent Hotel (top left photo) and its interest in the Rosewood Mansion on Turtle Creek (middle right photo)in Dallas to the Chengs. The sale price was not disclosed.

The properties transferred today include: The Carlyle, a Rosewood Hotel in New York City, NY; Rosewood Little Dix Bay Resort in Virgin Gorda, British Virgin Islands; Rosewood Mansion on Turtle Creek and Rosewood Crescent Hotels both located in Dallas, TX; and the Rosewood Inn of the Anasazi in Santa Fe, NM.

 The five hotels in the portfolio each represent “best in class” assets and each represent A Sense of Place® that is the hallmark of Rosewood Hotels.

All five of the hotels will continue to be managed by Rosewood under long term management agreements.

Rosewood and the Chengs do not plan any major changes to the properties, but rather will undertake the continuous improvement that has marked each of the hotels since the origination of their management under Rosewood.

Philip “Flip” Maritz, (middle left photo)CEO and co-founder with Lewis Wolff (middle right photo) of Maritz, Wolff, commented that he “feels very confident that the stewardship of these legacy assets under the Cheng Family, combined with continuing Rosewood management, will retain the special personality of each of the hotels.

“ I am also confident that these new owners will use their substantial capital and worldwide lodging expertise to take these hotels to the next level of guest satisfaction and market performance.”

The Chengs have made substantial investments in ultra-luxury hotels in the US and Asia.

The family owns The Beverly Wilshire, a Four Seasons Hotel in Los Angeles, as well as having previously owned interests in the Four Seasons Hotel New York and The Regent Hotel Hong Kong.

Members of the family also have invested in substantial trophy office buildings in New York and San Francisco, including 555 California Street in San Francisco, previously known as The Bank of America Building.

Dr. Henry Cheng stated that “this investment represents our belief in the quality of these properties and the future of ultra-luxury hotels and resorts in North America, Asia and around the world.

“The hotel real estate market has begun to recover and we expect that these legendary properties will continue to outperform their competitors. The opportunity to acquire a portfolio of these five tremendous hotels was simply too good to pass up.”

Maritz, Wolff was founded in 1994 by Philip “Flip” Maritz and Lewis Wolff. Since then the company has acquired over $1.5 billion in hotels, resorts and lodging management companies including investments in Rosewood Hotels and Resorts, Fairmont Hotels and Resorts, and Dolce Hotels and Resorts.

 Individual properties have been managed under the following brands: Accor, Dolce, Fairmont, Four Seasons, Hyatt, Ritz-Carlton and Rosewood.

Contacts
Maritz, Wolff & Co.
Jeff Barone, 314-863-9600

Brookfield’s Home of the Week in San Marcos, CA is a Single Level Home with a Generous Backyard



SAN MARCOS, CA --(PR.com)-- A popular single level plan featuring three bedrooms, three baths plus office is Brookfield’s Home of the Week at Mahogany at Old Creek Ranch in San Marcos (top left photo).

Priced at $578,900 and offering just over 2,400 square feet, Lot 1012 includes a buyer incentive of $20,000 to use toward builder options, flooring, and/or closing costs. This home will be available for occupancy by the end of the year.

“With a generous backyard, upgraded standard features and the opportunity to select options, this home is a tremendous value,” said Lora Heramb (lower right photo) vice president of sales and marketing at Brookfield Homes. To schedule a walk-through, call 888-559-7734 or visit the sales office at 1756 Burbury Way, San Marcos.

Included in every Mahogany home are:
· granite countertops
· stainless steel GE appliances
· double ovens
· air conditioning
· maple cabinets
· alarm system

At Mahogany, Brookfield Homes has paid off the assessment district bond in order to offer buyers a lower tax rate of 1.17 percent. Actual tax rate will increase or decrease based upon actual sales price of home.

Mahogany also offers home sites that back up to open space and offer territorial views. Single level and two-story plans range from 2,410 to 3,875 square feet with 3 to 5 bedrooms and 3 to 4.5 bathrooms.

Within walking distance are an 18-mile maze of hiking trails as well as a 19-acre community park with ball fields, a soccer field, picnic areas, an off-leash dog park and community center.

For more information about Brookfield communities, visit www.brookfieldsd.com.

Contact Information
Scribe Communications
Andie Adams
858-452-8958

RE/MAX Catapults Into Runner Up Leadership Position in Chicago Real Estate Market


Chicago, IL, July 30, 2011 --(PR.com)-- RE/MAX increased its share of residential properties sold in the Chicago real estate market to 8.5 percent during the first half of 2011, up from 7.6 percent in first half 2010. As a result, RE/MAX has moved up into second place among real estate brands that do business in the city.

According to Midwest Real Estate Data, LLC (MRED), the regional multiple listing service, RE/MAX brokerages sold 1,310 Chicago attached and detached listings in the first half of 2011. That is an increase of 56 percent from the 839 listings that RE/MAX brokerages sold in Chicago during the first half of 2010.

Among the city’s top six real estate brands, RE/MAX had the largest increase in transactions. Those firms, with their market share percentages for the first half of 2011 and 2010, are as follows:

*RE/MAX – 2011-8.5 percent; 2010-7.6 percent
*@Properties – 2011-10.1 percent; 2010-9.6 percent
*Coldwell Banker – 2011-7.9 percent; 2010-9.6 percent
*Prudential– 2011-6.5 percent; 2010-6.1 percent
*Baird & Warner – 2011-4.1 percent; 2010-4.6 percent
*Real Living – 2011-3.7 percent; 2010-5.0 percent

“RE/MAX is number one in more city neighborhoods than any other real estate brand and continues to lead the metro Chicago real estate market in listing units sold, sales made and total transactions,” said Laura Ortoleva (top right photo), the network’s spokesperson for northern Illinois. “Our goal is to bring RE/MAX world-class market expertise and service to as many Chicago neighborhoods as possible.”

Contact Information
RE/MAX Northern Illinois
Laura Ortoleva
847 428 4200

Marin County, CaliforniaLuxury Home Sales Highest Level in Three Years, Coldwell Banker Residential Brokerage Reports



Mill Valley, CA, July 30, 2011 --(PR.com)-- Marin County’s luxury home sales reached their highest level in three years in June as the high-end market continued to bounce back from the recessionary downturn, according to a new market report by Coldwell Banker Residential Brokerage, the region’s leading provider of luxury real estate services.

A total of 80 homes sold for more than $1 million in Marin County last month, up from 60 sales in May and 78 in June 2010.

The 80 transactions were the most million-dollar deals in Marin for any month since July 2008, the period leading up to the Lehman Brothers collapse and the subsequent crash of the financial markets.

The median sale price of a million-dollar home in Marin was $1,492,500 in June, up 4.7 percent from last year’s $1,425,000 median but down from the previous month’s level of $1.6 million.

Other metrics continued to show steady improvement for the Marin market: Homes sold at a much faster pace with the average time on the market dropping to 69 days, down from 96 in May and 91 last June.

And sellers received an average of 98 percent of their asking price last month, up from 95 percent the previous month and 96 percent a year ago.

The figures were derived from Multiple Listing Service data of all homes sold in Marin County for more than $1 million last month.

“After a fairly quiet spring, the housing market really is heating up this summer and Marin’s luxury market in particular is gaining momentum,” said Rick Turley (top right photo), President of Coldwell Banker Residential Brokerage.

 “The high-end segment normally leads the way for the rest of the market in a housing recovery, so this is encouraging news for the entire market.”

Turley said Coldwell Banker is seeing similar improvement in other luxury markets around the Bay Area, including San Francisco, the Peninsula and Silicon Valley. All of those markets have bounced back from their recessionary lows and in some cases are nearing their pre-recession levels in sales.

Although the high-end markets have done best, Turley noted that many entry-level and mid-level markets around the Bay also showed solid gains last month. Bay Area home sales overall in June rose to their highest level for any month since June 2010, when expiring tax credits gave housing a final boost, according to DataQuick, the La Jolla research firm.

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:



  • The most expensive sale in Marin County last month was a six-bedroom, six-bath 4,806-square foot home in Kentfield that sold for $4,023,000;

  • Mill Valley boasted the most million-dollar sales with 17, followed by Tiburon, Kentfield, San Anselmo and San Rafael with eight apiece;

  • Sellers received on average 98 percent of their asking price, up from 95 percent the previous month and 96 percent a year ago;

  • Homes closing last month stayed on the market an average of 69 days, down from 96 days the previous month and 91 days a year ago.

The Marin County Luxury Home Report is a monthly report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, the company is recognized around the world for its expertise in the luxury housing market.

Coldwell Banker Residential Brokerage serves Marin County with six offices: 83 Beach Road in Belvedere; 350 Bon Air Ct., Suite 100, in Greenbrae; 500 Sir Francis Drake Blvd. in Greenbrae; 36 Tiburon Blvd. in Mill Valley; 1737 Grant Avenue, Novato; and 1 Harbor Drive, Suite 110, in Sausalito. For more information, please call 925-275-3085.

About Coldwell Banker Residential Brokerage

For more information please visit www.CaliforniaMoves.com or call 925.275.3085. DRE # 00313415.

Contact Information
Coldwell Banker Residential Brokerage
Stephen Maita
510.739.0620

Friday, July 29, 2011

MIG Real Estate Sells 100,000-SF Las Vegas Office Property





NEWPORT BEACH, CA  & LAS VEGAS, NV--(BUSINESS WIRE)--MIG Real Estate (Merage Investment Group Real Estate) a Newport Beach, Calif.-based real estate investment company formerly known as Stoneridge Capital Partners, has sold Sunset Pilot Plaza (top left photo), an approximately 100,000-square-foot Class A Las Vegas office property to Ameriprise Financial, Inc. Terms of the transaction were not disclosed.

“Sunset Pilot Plaza is one of just a handful of Class A facilities in the market offering 100,000 square feet of contiguous space,” said Greg Merage, Chief Executive Officer of MIG Real Estate. “This was instrumental in the attraction of a public company with significant space requirements and has allowed us to complete a sale of this property well in advance of our contemplated timeline.”

Sunset Pilot Plaza was acquired in October 2010. The property was constructed in 2008 and is situated within the 3.3 million-square-foot Hughes Airport Center business park (middle right photo). Located at 280 Pilot Road, the three-story office building sits in close proximity to Interstate 215, Interstate 15, Las Vegas Boulevard and McCarran International Airport.

MIG Real Estate was represented by Darren Lemmon of CBRE (Las Vegas). Ameriprise Financial was represented by Charles Snyder (Minneapolis) and Randy Broadhead (Las Vegas) of CBRE.

“Future acquisitions in Las Vegas will be focused on properties with strategic advantages that will perform well in a soft market and significantly outperform in an improving market,” notes Merage. “We will continue to closely monitor Las Vegas market conditions and adjust our acquisition and disposition strategies accordingly.”

MIG Real Estate has completed approximately $350 million in acquisitions over the past 2 years and is aggressively seeking additional opportunistic investments in its target markets.

Additional information is available at www.migcap.com/RealEstate.

Contacts
Idea Hall
Julie Fornaro / Jessica Neuman
714-263-8748 / 714-263-8731

Washington Real Estate Investment Trust Announces Election of New Trustee



ROCKVILLE, Md.--(BUSINESS WIRE)--On July 28, 2011, the Board of Trustees of Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) announced the election of Vice Adm. Anthony L. Winns (RET.) (top right photo) to serve as a trustee effective immediately.

Vice Adm. Anthony L. Winns (RET.) is a defense industry consultant and former Naval Inspector General. He retired in June 2011 after 32 years of naval service. Adm. Winns served as Naval Inspector General from 2007 to his retirement.

From 2005 to 2007, he served as Director/Vice Director for Operations of the Joint Chiefs of Staff. Between 2003 and 2005, he was Deputy Director, Air Warfare Division for the Chief of Naval Operations.

 Prior to 2003, Adm. Winns served in other staff and leadership positions in Washington, D.C., including at the Bureau of Naval Personnel.   
He also served as commanding officer of several major commands, including the Pacific Patrol/Reconnaissance task force, the USS Essex, an amphibious assault carrier, and a naval aircraft squadron.
  
Contact:
Washington Real Estate Investment Trust
William T. Camp
Executive Vice President and Chief Financial Officer
Tel: 301-984-9400
Fax: 301-984-9610
bcamp@writ.com
www.writ.com

Union Bank, N.A. Awards CB Richard Ellis Group, Inc. Full Service Real Estate Outsourcing Contract for 5 Million SF. Portfolio




LOS ANGELES, CA--(BUSINESS WIRE)--CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that it has been selected by Union Bank, N.A. to provide full service outsourcing, including facilities management, transaction management, project management, consulting and lease administration services, for Union Bank’s real estate occupancy portfolio.

The multi-year contract with Union Bank, a full service commercial bank with $80.6 billion in assets, encompasses over 5 million sq. ft. and 400 locations primarily in California, as well as Oregon, Washington, Texas and New York.

“Union Bank is going through an unprecedented transformation to drive future long-term growth,” said Cynthia Rock, senior vice president of corporate real estate for Union Bank. “Our partnership with CBRE will enhance the Bank’s operational agility while delivering innovation and cost savings opportunities.”

As the leading real estate outsourcing service provider to the financial services industry, we look forward to proactively contributing our experience and integrated service capabilities to serve Union Bank’s strategic needs as they position themselves competitively for the future,” said Bill Concannon (top right photo), president of Global Corporate Services for CB Richard Ellis.

CB Richard Ellis signed a record 47 new, expanded and renewal outsourcing contracts in the second quarter of 2011, surpassing its previous record of 44 total contracts signed in a quarter, which was achieved in the first quarter of 2011.

Please visit our website at www.cbre.com.

Visit www.unionbank.com for more information.

Contacts

CB Richard Ellis
Robert McGrath
Senior Director, Communications
212-984-8267
or
Union Bank
Tom Taggart
SVP & Director, Corporate Communications
415-765-2249


Ashtabula, OH Mixed-Use Retail and Commercial Buildings Going to Lender-Ordered Auction Aug. 30



ASHTABULA,OH--(BUSINESS WIRE)--Kinnunen Realty is selling two separate mixed-use retail and commercial buildings in Ashtabula, Ohio via lender-ordered auction Tuesday, Aug. 30, 11 a.m. at the Hampton Inn Ashtabula I-90, Exit 223.

Conducted by Maas Companies of Ohio, an auction company specializing in selling real estate, industrial plants, equipment and special assets, the two buildings offer an excellent opportunity for an owner/operator tenant.

Property #1 is a 5,600 sq. ft. single tenant building on .525 acres and is the former Snodgrass Accounting Building. The property is well suited for a professional office or medical provider. The layout includes a lobby/reception area, private offices off a central hallway, conference room and extensive storage in the basement for records. This property has strong curb appeal with easy access for clients or customers and includes off-street parking.

 Building #2 is a 23,415 sq. ft. mixed-use retail building on 1.242 acres with six separate storefronts. Property tenants include Slappy’s Spirits Snacks & Songs, Teen Center, Tattoo Parlor and the former Edward Jones space. The property has angled on-street and off-street parking and is located in a commercial area neighboring Walgreens and the VFW.

Tyler Maas, director of sales and marketing for Maas Companies of Ohio, stated, “This property offers a tremendous opportunity for a new owner, as the auction process is a timely and efficient manner to buy real estate. The larger building is a perfect match for a landlord with a retail or office on-site.”

The seller chose to market the property via auction to actively recruit a new owner who will bring business to the area and immediately utilize this space.

Potential buyers are encouraged to inspect the property during the below noted times or by private appointment:

Monday, August 1 and Monday, August 29 from noon to 5 p.m.

Tuesday, August 30 from 8 to 10 a.m. prior to the auction

Sale details are available at www.maascompanies.com or by contacting Maas Companies directly at (507) 285-1444.

Maas Companies of Ohio Inc #2011000032; Hugh B. Miller, President: Auctioneer #57199773419; Broker #000339274

Maas Companies Inc. is an international auction marketing company located in the U.S.A. with extensive experience in successfully auctioning industrial plants, equipment, real estate, hospitality and commercial properties worldwide.

Contacts
Maas Companies
Allison Guyton, director of operations
(507) 285-1444


HSBC Holdings PLC Appoints CB Richard Ellis Group, Inc. as Global Real Estate Advisor for 72 Million-SF Portfolio



LONDON--(BUSINESS WIRE)--CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that it has been appointed by HSBC Holdings PLC (HBC.N) to serve as Global Strategic Property Portfolio Manager as well as regional transaction partner for the bank’s properties in Europe, Asia, North America and Latin America.

As the exclusive Global Strategic Property Portfolio Manager, CB Richard Ellis will advise HSBC on its global property portfolio, which comprises more than 7,500 properties in 87 countries, totaling approximately 72 million sq ft.

 CB Richard Ellis will also serve as HSBC’s exclusive regional transaction partner in Europe, and will share service delivery for transactions in Asia Pacific, North America and Latin America.

Tony Buckham (top right photo), Global Head of Corporate Real Estate, HSBC, said: “After conducting a thorough global review, we are excited to announce this strategic partnership with CBRE.

“With the excellent experience of CBRE’s portfolio management team, we will derive significant benefits and synergies from deploying on a global scale. By linking good data and management information with best-in-class, on-the-ground delivery through our transaction partner, we will be providing a robust yet agile support function for our business operations across 87 different countries and a wide variety of property types.”

Mike Strong (middle left photo), EMEA Chairman and CEO, CB Richard Ellis, said: “This global mandate will enable HSBC to drive accelerated cost savings and optimize its occupational holdings worldwide, further advancing the performance of its business. We are delighted to work alongside HSBC and to extend our relationship with the bank.”

This appointment expands upon and consolidates CB Richard Ellis’ existing relationship with HSBC across numerous locations worldwide. CB Richard Ellis is already responsible for integrated transaction and portfolio management in the UK and portfolio management in France.

 Please visit our Web site at www.cbre.com.

Contacts
CB Richard Ellis Group, Inc.
Gil Borok
Chief Financial Officer
310-405-8909
or
Nick Kormeluk
Investor Relations
949-809-4308
or
Steve Iaco
Corporate Communications
212-984-6535


Wheelock Street Capital Completes Acquisition and Conversion of the Former Renaissance Agoura Hills into the Sheraton Agoura Hills Hotel in Agoura Hills, CA.




GREENWICH, CT.--(BUSINESS WIRE)--Wheelock Street Capital announced today that an affiliate of Wheelock closed on the previously announced acquisition of the former Renaissance Agoura Hills (middle left photo) in Agoura Hills, CA. The hotel was converted into the Sheraton Agoura Hills Hotel at closing.

The Sheraton Agoura Hills Hotel will undergo a $6.6 million renovation to be completed in the coming months. The renovation will upgrade the hotel’s technology, meeting rooms, lobby, restaurant, fitness center and guest rooms.

The guest rooms will feature the all-white Sheraton Sweet Sleeper® bed designed to meet AAA's Five Diamond Award criteria. The meeting space will be expanded providing more flexibility for large groups to take advantage of the renovated property.

 Renovations will also include the creation of an outdoor California room as an extension to the newly designed lounge taking advantage of the hotel’s mountain setting.

Wheelock Street acquired the property from an institutional investor and obtained acquisition financing from a US-based insurance company. The terms of the transaction were not disclosed. The property includes 280 guestrooms, including 14 suites, and nearly 17,000 square feet of meeting space.

The hotel is located just south of the Ventura Freeway (Highway 101) in the heart of the Conejo Valley, an area renowned for its excellent demographics and diversified high tech economy.

 The 101 Technology Corridor is home to Amgen’s world headquarters, Farmer’s Insurance / University, Baxter Bioscience, Bank of America, WellPoint, Alcatel-Lucent, Dole Food Company among others. Davidson Hotels & Resorts will continue to manage the hotel.

Commenting on the acquisition, Merrick Kleeman (top right photo), a Managing Partner of Wheelock Street Capital, said, “The Sheraton Agoura Hills represents our second investment in the Conejo Valley and our second property managed by Davidson.

“We are excited to be joining the Sheraton franchise and impressed with the investments Starwood has made in the brand. We expect the renovation to position the asset to take advantage of the ensuing economic cycle.”

Wheelock Street Capital, L.L.C. is a real estate private equity firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul.

Additional information on Davidson may be found at www.davidsonhotels.com.

Maxim Hotel Brokerage represented the seller in the sale of the asset.

Contacts
Wheelock Street Capital
James Eberhart, 617-619-3105