Wednesday, November 7, 2012

National Retail Properties, Inc. Announces Redemption Of 3.95% Convertible Senior Notes Due 2026

ORLANDO, FL, Nov. 7, 2012 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it is notifying holders of its 3.95% Convertible Senior Notes due 2026 ("Notes") that the Company will redeem all outstanding Notes on December 10, 2012. 

The Notes will be redeemed in cash at a price equal to 100% of the principal amount of Notes being redeemed, plus accrued and unpaid interest to, but excluding, December 10, 2012.  As of November 6, 2012, approximately $38.1 million aggregate principal amount of Notes remained outstanding.

The Company also announced that holders may elect to convert all or a portion of the Notes into cash and, if applicable, shares of the Company's common stock, par value $0.01 per share ("Common Stock").  The current conversion rate for the Notes is 42.624 shares of Common Stock per $1,000 principal amount of Notes, which is equal to a current conversion price of approximately $23.46 per share of Common Stock.

 Holders wishing to convert such Notes must satisfy the requirements for conversion set forth in the Indenture and surrender such Notes for conversion no later than 5:00 p.m. (New York City time) on December 6, 2012.

Post Apartment Homes, L.P. Announces Closing of $250 million 3.375% Notes due 2022

Christopher Papa
ATLANTA, GA--(BUSINESS WIRE)-- Post Apartment Homes, L.P., the operating subsidiary of Post Properties, Inc. (NYSE: PPS), announced today that it has closed on its previously announced public offering of $250 million aggregate principal amount of senior unsecured notes due 2022.

 Post Apartment Homes, L.P. intends to use the net proceeds from this offering to redeem the remaining approximately $130.1 million in principal outstanding of its 6.30% senior unsecured notes, which mature on June 1, 2013 (“2013 Notes”), and pay premiums and related fees and expenses of approximately $4.1 million in connection therewith and for general corporate purposes, which may include future property acquisitions.

The 2013 Notes are expected to be redeemed on December 3, 2012.

Said Christopher Papa, EVP and CFO of Post Properties, “We were pleased that we were able to capitalize on the recent upgrade of our credit ratings and take advantage of a very favorable bond market to issue attractively priced long-term unsecured debt capital.

“This offering allows us to repay higher coupon debt and fund remaining debt maturities through 2014, while at the same time maintaining sound credit metrics. As a result of this offering, the Company is maintaining its full year 2012 earnings guidance, other than with respect to the impact of a charge for the early extinguishment of debt of approximately $0.08 per diluted share in connection with the offering.”

Wells Fargo Securities, J.P. Morgan and SunTrust Robinson Humphrey acted as joint book-running managers with PNC Capital Markets LLC, Mitsubishi UFJ Securities, BB&T Capital Markets, Capital One Southcoast, TD Securities, US Bancorp and The Williams Capital Group, L.P. acting as co-managers.

For a complete copy of the company’s news release, please contact:

Post Properties, Inc.
Chris Papa, 404-846-5028

DoubleTree by Hilton to Open First Hotel/Golf Resort in Spain

DoubleTree by Hilton Hotel & Spa Emporda
GIRONA, Spain – 7 November 2012 – Hilton Worldwide today announced that it has signed a franchise agreement with Urbano Rural Hotelara SL to open its first DoubleTree by Hilton hotel in Spain.

 Set to convert by the end of the year, DoubleTree by Hilton Hotel & Spa Emporda will be an upscale, 87 guestroom property located on the site of Emporda Golf Club.  The site boasts two 18-hole golf courses created by Robert von Hagge, the award-winning golf course designer.  Only five minutes drive to the nearest beach, the hotel will provide a contemporary, new accommodation offering for holidaymakers on the Costa Brava.

Patrick Fitzgibbon
Patrick Fitzgibbon, senior vice president, development, Europe & Africa, Hilton Worldwide, said, “Hilton Worldwide has had a presence in Spain for more than 20 years and the country remains an enduringly popular travel destination with the latest visitor numbers demonstrating year on year growth.

“As well as city centre and airport locations, such as Barcelona and Madrid, our brands are equally suited to resort locations and we’re delighted to be introducing DoubleTree by Hilton to such a prestigious Spanish golfing destination.”

Emporda tourist region, Spain

Emporda is a region of the province Girona, set within one of Spain’s most renowned tourist resorts, the Costa Brava.  Also known as the ‘rugged coast’, the Costa Brava stretches for 60km along the coast of Catalonia and is famed primarily for its warm climate and idyllic beaches.  

For a complete copy of the company’s news release, please contact::

Hayley Douglas
Hilton Worldwide
+44 (0) 207 856 8114

Maggie Giddens
DoubleTree by Hilton
+1 703 883 5346

Commercial Real Estate Will Continue to Improve in 2013, but a Real Take-Off Will Have to Wait

Michael Bull
ATLANTA, GA – The commercial real estate industry has made a slow but steady recovery since the depths of the Great Recession, and 2013 will see more of the same.

 The most recent episode of “America’s Commercial Real Estate Show” presented detailed projections for the upcoming year from show host Michael Bull and Robert O’Brien, a partner and vice chairman with Deloitte & Touche and the leader of the firm’s U.S. Real Estate Services Group.

 “2013 will be a year of opportunity,” said Bull, the founder and president of Bull Realty. “We should see continued slow growth. We should see more transactions and more business for everyone involved in the industry.

Robert O'Brien
Certain macro-economic factors, such as below-average GDP growth, will prevent the various commercial real estate sectors from truly taking off, according to O’Brien.

 “Although we’ve seen a great recovery in real-estate fundamentals over the past couple of years, we think without more robust economic growth, it’s going to be difficult for real significant growth in real estate,” he said.

 Deloitte & Touch recently released its “Commercial Real Estate Outlook: Top Ten Issues in 2013” report.

According to O’Brien, multifamily is currently the strongest commercial real estate sector, followed by lodging, office, industrial and retail. “We have seen improving consumer confidence and improving consumer sentiment, which should be good for retail,” O’Brien said. “But to some extent, that’s been offset by an increase in online sales, which is obviously having an impact on retail real estate.”

Increased online sales have benefited warehouses, which in turn makes the industrial sector poised to perform well in 2013, Bull added. “It’s a good time to buy industrial and here’s why: We’ve had several quarters of positive absorption, and like the office market, we’ve had little-to-no new construction,” he said.
 Bull provided a wide range of projections for upcoming year.

Among his forecasts: demand for infill land for commercial development will continue to increase, distressed property sales will remain prevalent and investor demand for single-tenant, net-leased properties will remain high.

Medical Office Building, San Diego, CA
Healthcare and medical properties also will be much sought after by investors in 2013 and beyond, Bull noted. “Baby Boomers are getting older, they’re living longer and they have more active lifestyles,” he said. “Healthcare properties should see further cap rate compression and strong buyer demand in 2013.”

The entire “2013 Commercial Real Estate Market Projections” episode is available for download at

 The next “America’s Commercial Real Estate Show” will be available on Nov. 8 and will provide an in-depth update on the U.S. retail real estate market.

 “America’s Commercial Real Estate Show” is a national talk radio show about commercial real estate. New shows are available beginning every Thursday at the show website, Shows are also broadcast on AM stations, including Atlanta station Biz 1190 WAFS on Saturdays at 10 a.m. Show podcasts are available on-demand on iTunes and the show website.


Stephen Ursery
Wilbert Public Relations
Office: (404) 965-5026
Cell: (404) 405-2354