Grubb & Ellis Realty Investors Acquires 5202 Presidents Court in Frederick, Md.

Acquisition is First for Grubb & Ellis Wealth Management Program

SANTA ANA, Calif., Feb. 20 /PRNewswire/ -- Grubb & Ellis Realty Investors, LLC announced today the acquisition of 5202 Presidents Court on behalf of a private investor participating in the Grubb & Ellis Wealth Management program. The acquisition closed on Jan. 29, 2008.

"The acquisition of 5202 Presidents Court is the inaugural transaction through the Grubb & Ellis Wealth Management program," said Jeff Hanson, (photo top right) President of Grubb & Ellis Realty Investors. "This unique new investment platform has already secured commitments for approximately $182 million in equity that is currently being deployed into new commercial real estate acquisitions on behalf of Wealth Management participants.

"The Wealth Management program provides comprehensive real estate investment advisory services to high net worth investors. Through the program, Grubb & Ellis Realty Investors offers qualified individuals, entities and corporations the opportunity to benefit from the potential advantages of real estate investment through a passive, sole-ownership vehicle that is professionally managed from initial deal sourcing through ultimate disposition."

The Wealth Management program is open to all qualified investors seeking sole-ownership of a customized commercial real estate portfolio, whether it be comprised of a single property or a collection of diversified assets.5202 Presidents Court is a four-story, approximately 233,000-square-foot, institutional-grade office building in Frederick, Md.

Built in 1998 on nearly 24 acres, the property is surrounded by numerous amenities, including the city's largest shopping center, six hotels, a fitness center, and a day-care facility. 5202 Presidents Court offers convenient access to Interstate 270, which connects Frederick with the metropolitan suburbs of Washington, D.C.The property includes a surface lot with 995 parking spaces for a parking ratio of 4.54 spaces per 1,000 square feet.

5202 Presidents Court is 96 percent leased by numerous tenants, including JP Morgan Chase, Bechtel Power Corporation and Science Applications International Corporation.5202 Presidents Court was acquired from FSP-Presidents Court LLC, a Fountain Square Properties managed entity, which was represented by Eric Berkman of Grubb & Ellis Company.

CONTACT:

Janice McDill,

+1-312-698-6707,

janice.mcdill@grubb-ellis.com,

or

Jill Swartz,

+1-714-667-8252, ext. 251

jill.swartz@grubb-ellis.com,

both of Grubb & Ellis

Web site:

http://www.grubb-ellis.com/

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GVA Advantis Retained to Exclusively Lease Retail Development in Oldsmar Galleria

TAMPA, FL -GVA Advantis
is pleased to announce it has been retained by JES Properties, Inc. to exclusively lease the retail development in Oldsmar Galleria, (photo top right), a newly constructed 60,000-square foot mixed-use project in downtown Oldsmar, Pinellas County, Florida.

Situated at the corner of State Street and St. Petersburg Drive, Oldsmar Galleria is a recently constructed $10 million mixed-use project developed by JES Properties, Inc. It is located by the hotel row in Oldsmar, just a block from the new library. The first retail restaurant, The Oldsmar Tap House, just recently opened its doors to a busy, welcome reception from the public.

The first and second floors of the project consist of approximately 25,000 square feet of retail and commercial space. Retail space totaling approximately 12,000 square feet, will be exclusively leased by Jan Chaffee, (left photo) director of office and retail services for GVA Advantis. Available retail spaces range from 737 square feet to 5,170 square feet of contiguous area.

The second floor, approximately 9,500 square feet of office space, serves as the corporate office of JES Properties, Inc., the developer of the Oldsmar Galleria. Fifteen two-story town homes and five one-story residential units comprise the second, third and fourth floors of the project.

“Oldsmar is ready for this kind of growth,” remarks Chaffee. “With exciting new businesses and residents moving right into the area and creating activity in this central location, Downtown Oldsmar is going to flourish,” she adds.

“We are excited about the retail opportunity for downtown Oldsmar,” adds Dr. Douglas J. Weiland, President, CEO and founder of JES Properties, Inc. “Judging by the volume of business that the recently opened Oldsmar Tap House is realizing, this will be a thriving retail corner.”

JES Properties, Inc. is a privately owned real estate development company with expertise in residential, retail, office and mixed-use projects through the state of Florida. With a focus on both the development of master planned residential subdivisions and the development of commercial and mixed use projects, the company is managing projects exceeding three million square feet of office and retail space and more than 4,500 residential units. For more information about JES Properties, visit www.jesproperties.com.

GVA Worldwide is an international organization of real estate industry leaders serving key markets in 20 countries. The organization comprises more than 3,500 real estate professionals in 90 markets worldwide. In 2006, GVA Worldwide partners collectively completed $26.5 billion in transactions and managed more than 150 million square feet of office, industrial, retail and specialized property.

MEDIA CONTACT:
Lisa Hyde
Director of Marketing
Advantis Real Estate Services Company
3000 Bayport Drive, Suite 100
Tampa, Florida 33607
Tel 813.342.4752
Fax 813.342.4004
E-mail Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

Arbor Closes $4,350,000 Fannie Mae DUS® Loan for Rosemont Apartments in Greenville, NC

UNIONDALE, NY (February 20, 2008) Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4.350,000 loan using the Fannie Mae DUS® product to acquire the 132-unit complex known as Rosemont Apartments (photo top left) in Greenville, NC.

The 10-year loan amortizes on a 30-year schedule, and carries a note rate of 6.34 percent.

The loan was originated by John Edwards, Director in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to work with a strong local owner and operator,” said Edwards. “We look forward to additional financing opportunities with this client.”
Arbor Commercial Funding, LLC, Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties.

The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.

Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in real estate-related bridge and mezzanine loans, preferred equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, and has full-service lending offices throughout the United States.

DUS and 3MaxExpress are registered trademarks of Fannie Mae.

CONTACT:

Arbor Commercial Mortgage, LLC

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd,

Suite 900Uniondale, NY 11553

http://www.arbor.com/

Ingrid Principe

Tel: (516) 506-4298

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HFF Retained to Market Sale of Conifer Crossing in Norcross, GA

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) recently announced that it has been retained to market for sale Conifer Crossing, (photo top right) a 420-unit multifamily community in Norcross, Georgia.

Managing director Jason Nettles and associate director Megan Thompson will lead the HFF investment sales team on behalf of the seller, Simpson Housing, LLLP. The property is being listed free and clear of debt for $35,850,000.

Situated on nearly 54 acres, Conifer Crossing is located at 3383 Holcomb Bridge Road, close to Interstate 85, Peachtree Industrial Boulevard and Interstate 285 in Peachtree Corners, approximately 17 miles northeast of Atlanta’s central business district.

Conifer Crossing is immediately proximate to more than 10 million square feet of office space including Technology Park, which is less than two miles from the property and is Atlanta’s response to Silicon Valley. The 98% occupied property has one-, two- and three-bedroom units averaging 1,233 square feet each. Community amenities include a clubhouse, pool, fitness center, playground, laundry facility, sand volleyball court, racquetball court and three lighted tennis courts.

“Conifer Crossing is a great value-add opportunity with proven upside demonstrated by the current owner,” said Nettles. “Minor interior upgrades have resulted in $50 rent premiums with even larger rent premiums demonstrated with the addition of a new appliance package.”

Contacts:

Laurie Fish McDowell
Associate Director HFF

One Post Office Square,

Suite 3500

Boston, MA 02109
tel 617.338.0990

fax 617.338.2150

http://www.hfflp.com/
lmcdowell@hfflp.com

Jason Nettles

HFF Managing Director

404 832 8460

jnettles@hfflp.com

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Great Wolf Resorts Reports Fourth Quarter 2007 Results

Adjusted EBITDA and Adjusted EPS Exceed Company’s Earnings Guidance and Consensus Analyst Estimates

MADISON, WI--February 20, 2008—Great Wolf Resorts, Inc. (NASDAQ: WOLF), North America’s leading family of indoor waterpark resorts, today reported results for the fourth quarter ended December 31, 2007.
Highlights

· Achieved Adjusted EBITDA of $11.5 million and Adjusted net loss per share of $(0.05) for the 2007 fourth quarter, resulting in full year 2007 amounts of $51.1 million of Adjusted EBITDA and $0.03 of Adjusted EPS, exceeding both consensus analyst estimates and the top end of the company’s earnings guidance for the quarter and the full year.

· Generated seventh consecutive quarter of same store RevPAR improvement, with Great Wolf Lodge® brand same store Total RevPAR up 6.6 percent compared to the same period last year, and have seen an increase in same store rooms sold / booked in the first quarter of 2008 compared to the first quarter of 2007.

· Opened the 402-suite Great Wolf Lodge resort in Grapevine, Texas in December, featuring the state’s largest indoor waterpark. Also broke ground on construction of a 203-suite and 20,000 square-foot meeting space expansion to the newly-opened resort. Achieved 25,000 sold and future booked rooms on the new resort to date.

· Broke ground on construction of a 402-suite Great Wolf Lodge resort in Concord, N.C. in October 2007.

· Completed a significant expansion of the Traverse City, Mich., Great Wolf Lodge in the 2007 fourth quarter, adding 9,000 square feet of meeting space.

· Capitalized on increased emphasis on group sales at resorts, resulting in a 35 percent year-over-year increase in same store total number of group rooms sold / booked through February 18, 2008.

The company reported a 2007 fourth quarter net loss of $(7.7) million, or $(0.25) per diluted share, compared to a net loss of $(49.0) million, or $(1.61) per diluted share in last year’s fourth quarter. Fourth quarter 2006 operating results included the impact of a pre-tax, $51.0 million goodwill impairment charge and the related effect on income taxes.

Fourth Quarter Operating Results

“Our portfolio of resorts continued to perform well, providing operating results that exceeded both the top end of our earnings guidance and consensus analyst estimates for the fourth quarter,” said John Emery, chief executive officer. “We continued our seven-quarter string of strong year-over-year same store revenue per available room (RevPAR) growth. We believe this is due in large part to the impact of our targeted marketing and our continued focus on great guest service, a feature at the core of our business.

"Our fourth quarter is heavily dependent upon holiday activities, and our business appears to have held up better than certain other companies which are dependent on discretionary consumer spending. We believe this clearly demonstrates the advantage of our business model: providing a high-quality, drive-to, destination family resort experience.”

The company reported fourth quarter Adjusted EBITDA of $11.5 million and Adjusted EPS of $(0.05), resulting in full year 2007 amounts of $51.1 million of Adjusted EBITDA and $0.03 of Adjusted EPS. The company’s 2007 fourth quarter Adjusted EBITDA increased 40 percent over the 2006 period.

For complete financials, please click on www.greatwolf.com.

Contact:

Alex Lombardo
Investors
(703) 573-9317

Jennifer Beranek
Media
(608) 661-4754

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ARA Presents '2007 in Review' Multifamily Market Report

BOCA RATON, FL--ARA’s Florida offices are pleased to announce the completion of our year-end market report, titled “2007 in Review.”

The report takes an in-depth look at the dynamic multihousing market within the state of Florida and offers a look at historical investment sales volume, discusses who the active buyers are, tackles the impact of the shadow market, and takes a look ahead into 2008.

A snapshot of the report’s contents:

For a number of reasons, 2007 was an interesting year for real estate. After three straight years of record-breaking investment volume, sales slowed dramatically due to tightening credit standards and a sense of trepidation on the part of lenders brought on largely by the fallout of the subprime market.

According to the Urban Land Institute, real estate industry leaders pointed to improving occupancy rates, rental rates, and escalating net operating incomes in commercial and multifamily markets as support for a “soft landing” forecast for 2008. Demand for apartments is expected to escalate in 2008, especially in higher-cost coastal corridors with barriers to entry, due largely to the impact of echo boomers and continued frustration on the part of would-be buyers and financially strapped homeowners.

Throughout Florida, continued population growth and job creation are fueling continued demand for apartment units. A lack of affordable for-sale housing in many markets, along with the sub-prime fallout and more stringent lending practices are further fueling that demand. High construction costs and the price of land have kept development at a minimum – all of which should translate into increasing occupancies and positive rental rate movement within rentals.”

The full report may be viewed by contacting Lisa M. Rossetti at lrossetti@arausa.com.

CONTACT:
Lisa M. Rossetti
Director of Research
777 Yamato Road, Suite 140
Boca Raton, FL 33431
561.988.8800 Ext. 120
561.988.8810 FAX
blocked::mailto:lrossetti@ARAusa.com
www. ARAusa.com

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Dayton Superior Leases 44,470 SF at Liberty Park at AIPO

WINTER PARK, FL-- Dayton Superior Corporation has leased 44,470 square feet for ten years at Building B, Liberty Park at AIPO.

Dayton Superior was represented by Greg Rebman of Rebman Properties and Steven LaKind of Studley, Inc. Liberty AIPO Limited Partnership was represented by Todd Watson and Paul Sabga.

Contact:

Greg Rebman, SIOR, CCIM
407.875.8001
greg@rebmanproperties.com

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CB Richard Ellis Group, Inc. Acquires Cederholm, a Leading Commercial Real Estate Services Firm in Denmark

LOS ANGELES--(BUSINESS WIRE)--CB Richard Ellis Group, Inc. (NYSE:CBG) has announced the acquisition of its affiliate company in Denmark, CB Richard Ellis Cederholm A/S (“Cederholm”), one of that country’s largest commercial real estate services companies.

(Photos: Henrik Cederholm, top left; Mike Strong, top right)

The purchase price is approximately $43 million. The acquisition significantly strengthens CB Richard Ellis’ platform in Scandinavia by giving the Company a wholly-owned position in one of the region’s most active property markets.

Cederholm has been CB Richard Ellis’ affiliate in Denmark since 1999, and this transaction reflects the Company’s strategy of acquiring affiliate companies in global markets with high growth potential. Founded in 1998 by Henrik Cederholm, the business employs approximately 60 people, has three offices located in Copenhagen, Aarhus and Kolding and delivers a full service offering to clients.

CB Richard Ellis foresees strong growth in the Danish property market. One notable trend is the erosion of the traditional preference for owner-occupancy among local companies, which has made sale-leaseback transactions an attractive option. The popularity of sale-leasebacks, alongside strong economic growth, are expected to continue to draw a growing number of international investors to both Denmark and the wider Scandinavian region.

Mike Strong, (photo top right) President of CB Richard Ellis, EMEA, said: "Denmark and the entire Nordic region is of strategic interest to our clients. Cederholm is a well established business with an excellent reputation and strong market position in Denmark. This transaction is a key building-block in the development and expansion of our operations across Scandinavia.”

Henrik Cederholm, (photo top left) Managing Director at Cederholm, added: “Full integration with the world’s largest commercial real estate services provider makes perfect sense for the future expansion of our business. CB Richard Ellis’ global platform and strength in the marketplace will now give us an enhanced opportunity to grow our position both in Denmark and internationally. Both companies’ clients will benefit enormously from our combined expertise at a time of increased interest and activity in Denmark’s commercial real estate market.”

Contacts:
CB Richard Ellis Group, Inc.

Kenneth Kay,

Senior Executive Vice President and Chief Financial Officer

310-405-8905

or

Steve Iaco,

Senior Managing Director

Corporate Communications

212-984-6535

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Patrick O’Donnell Joins Lane Southeast as Development Partner

O’Donnell Will Spearhead Projects in Georgia and Tennessee

ATLANTA-– Lane Southeast, a subsidiary of multifamily real estate firm Lane Company, has hired Patrick O’Donnell as its newest Development Partner. He will aggressively seek land and partnership opportunities in all major Southeastern markets, particularly Atlanta and Nashville, Tennessee.

“We are enthusiastic about using our expertise in mixed-use development, especially high density projects with a strong pedestrian connection and a variety of services within the project,” O’Donnell says. “But it’s not enough just to find good deals. In today’s market you have to have the financial strength and track record of delivery to get things done,” he added. “Lane is fortunate enough to have both.”

He was previously Vice-President of Development for Place Properties, an Atlanta-based real estate development firm. He has also served as Director of New Store Development for Trammell Crow Company, Director of Development for Holder Properties, Inc., and Vice-President of Multifamily Housing for Ultima Holdings, LLC.

Southeast Development Partner John Bell says the firm chose O’Donnell to source and develop new projects in the Georgia/Tennessee region because of his extensive experience in both residential and commercial real estate.

“He’s a results-oriented senior team leader with a proven track record in site analysis, acquisition, project entitlement and development management,” Bell says. “He also has that entrepreneurial spirit we’re looking for, which lets him work independently, and as leader of the team.”

O’Donnell says he will be seeking all types of projects, but sees the most potential in intown markets. “We are not afraid to take on difficult projects,” he concludes.

O’Donnell earned his Bachelors degree in Business from Miami University in Oxford, Ohio, and his M.B.A. from the Goizueta School of Business at Emory University. He is a member of CoreNet and the Midtown Alliance, and serves on the Traffic Committee of the Ansley Park Civic Association.

About Lane Company

Lane Company (http://www.lanecompany.com/) is a vertically-integrated, full-service multifamily real estate company. Its expertise extends to all areas of real estate including apartment and condominium development, investment, property management, construction, asset management, marketing and sales. With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. Its goal is to make big things happen by connecting people and communities one home at a time.

Media Contact:

Terri Thornton,

Thornton Communications,

404-932-4347

territhornton@mindspring.com

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Thomas D. Wood & Co. Handles $32.25M Financing for SAC Wal-Mart Portfolio and Orlando Tradeport

ORLANDO, FL--Doug Rozzell, Principal for Thomas D. Wood and Company, has secured financing in the amount of $32,250,000 for the SAC Wal-Mart Portfolio and Orlando Tradeport.

Rozzell arranged preferred equity financing on behalf of a Detroit-based developer in the amount of $30,600,000 to purchase the equity interest in 35 Wal-Mart shadow-anchored shopping centers located throughout tertiary markets in the Midwestern United States. The transaction was funded through a European-based equity fund, which injected 90% of the required equity.

Rozzell also arranged financing for Orlando Tradeport, a 24-month land loan in the amount of $1,650,000, through a local banking institution. Proceeds were used to acquire 177 acres of vacant land, of which 152 acres was a former landfill for the United States Navy.

The interest-only loan was priced at 1% above the Prime rate of interest, and the lender charged a 1% origination fee on the full recourse loan. The Orlando Tradeport is located at the northwest corner of Tradeport Road and Boggy Creek Road, Orlando, Florida.

Thomas D. Wood and Company is an independently owned, leading commercial mortgage banking firm in the southeast. Thomas D. Wood and Company has correspondent relationships with fourteen major life insurance companies, in addition to Wall Street. Thomas D. Wood and Company’s servicing portfolio is now approaching one billion dollars.

This servicing portfolio consists of long-term mortgages on a variety of commercial properties located throughout the state of Florida. These properties include: Retail, Industrial, Office, Senior Housing Communities, Self-storage, Apartments, Warehouses, Hotels and Mobile Home Parks.

Thomas D. Wood and Company’s corporate office is located at 95 Merrick Way, Suite 360, Coral Gables, Florida 33134, with branch offices located at 1700 South MacDill Avenue, Suite 240 A, Tampa, Florida 33629, and 1215 Louisiana Avenue, Winter Park, Florida 32789. The website may be accessed through http://www.tdwood.com/.

For further information, please contact:

Doug Rozzell

(407) 937-0470

drozzell@tdwood.com

Jessica Gurtowski

(407) 937-0470

jgurtowski@tdwood.com

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Meridian Capital Group Arranges Financing for Norcross, GA Retail Property

NORCROSS, GA - Meridian Capital Group has arranged a loan in the amount of $5,100,000 for the Spalding Center, a 51,652 square foot retail property located at 6365 Spalding Drive. Barak Amram and Matt Weiler of Meridian’s Florida office negotiated to secure a rate of 5.72% over a 5-year term.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas.

Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.

Contact:

Dani Sabesan:

dsabesan@meridiancapital.com
(212) 612-0109

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iCap Realty Advisors-Michigan Appoints Hannah as Director

DETROIT -– Robert W. Leonard, iCap Realty Advisors - Michigan, announces the appointment of D. Scott Hannah as Director, iCap Realty Advisors - Michigan.

Hannah brings to iCap Michigan more than 20 years of experience in commercial real estate lending as a banker and broker, including the sourcing and placement of construction, permanent, bridge, mezzanine and equity capital from sources including conduits, life insurance companies and banks. His expertise encompasses a range of investment and owner-occupied commercial properties, including retail, office, industrial and multi-family.

“We are pleased to have Scott on board,” said Leonard, senior director of iCap Realty Advisors - Michigan. “He brings to our clients a strong understanding of the lender’s perspective, as well as a proven track record in placing debt and equity financing.” Prior to joining iCap Michigan, Hannah was an associate partner/commercial mortgage broker with Water Street Financial Group of Novi, Mich.

Previously, Hannah held business development and commercial real estate lending positions as vice president of commercial real estate with Republic Bank in Bloomfield Hills, Mich., Key Bank in Ohio and Old Kent Bank in Kalamazoo, Mich., as well as First of America Bank, where he started his banking career as a commercial loan analyst.

Hannah is a member of the Mortgage Banking Association and a past member of the American Bankers Association. He is a graduate of Central Michigan University, and of the American Bankers Association Graduate School of Commercial Banking at Oklahoma University.

About iCap Realty Advisors - Michigan

Based in Farmington Hills, Mich., iCap Realty Advisors’ Michigan office is part of a national commercial mortgage banking and investment sales company founded in 2001 to offer the full spectrum of financial services.

With headquarters in The Woodlands, Texas, in 2007 iCap Realty Advisors originated more than $2.5 billion in commercial real estate loans nationwide for a wide array of capital sources, including life insurance companies, conduits, mezzanine lenders, equity providers, government agencies and banks. iCap’s 15 U.S. offices provide the national reach and local market knowledge required to streamline the real estate finance process for lenders and borrowers alike.

For more information, see www.icaprealty.com. iCap Realty Advisors - Michigan is a sister company of iCap Realty Advisors - Florida and Lutz Real Estate Investments, a real estate investment firm with approximately $500 million in holdings in the Southeast, Midwest and East Coast.

Media contact:

Jennifer Harris, Clovis,

773.755.7100,

jharris@clovisinc.com

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Pelican Bay Development Signs Lease with Office Depot: Will Start Construction of 120,000-SF Alico Commons Retail Center south of Fort Myers

BONITA SPRINGS, FL--Pelican Bay Development has negotiated a 20,898 square foot pre-construction lease agreement with Office Depot at Alico Commons, a 120,000 square foot retail center that will get under way this spring on Alico Rd. at U.S. 41 south of Fort Myers.

James Nashman, president of Pelican Bay Development, said Alico Commons will include 31,165 square feet of retail space for small shops.

Nashman said Pelican Bay is currently completing negotiations with a major grocery chain to occupy some 45,000 square feet in the center.

Stand alone retail stores on out parcels at Alico Commons include a 13,013 square foot CVS Pharmacy, a 5,000 square foot Florida Bank and a convenience store with 16 pump gas station.

Nashman said an existing 2,600 square foot Arby’s restaurant and 3,000 square foot Baskin Robbins Dunkin Donuts restaurant are already operating on the Alico Commons site.

For more information, please contact:

James Nashman,

President of Pelican Bay Development,

239-498-5363 or

Larry Vershel or Beth Payan,

LV Communications,

407-644-4142 (fax 4410)

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HVS Hodges Ward Elliott Appointed Exclusive Advisor for Sale-Leaseback of 23 Fletcher Hotels in the Netherlands

LONDON—HVS Hodges Ward Elliott has announced it has been appointed the exclusive advisor for a sale/leaseback transaction for the 23-hotel portfolio owned by Dutch hotelier Fletcher Hotels. The 3- and 4-star hotels, comprising 879 rooms, are located throughout the Netherlands, from the Wadden Islands in the north to Valkenburg in the south.

“Fletcher has developed an efficient, high-tech operating platform that could be rolled across Europe and generates excellent cash flow per room,” said Rudy Reudelhuber, HVS Hodges Ward Elliott managing director. (Right top photo)

“Many of the hotels are irreplaceable assets due to their location in prime, established neighborhoods in their respective markets, which means high barriers to new competition. This portfolio is an excellent opportunity for an investor to acquire a significant Dutch real estate portfolio at an attractive yield with a tenant that has healthy rent coverage.

“The Netherlands’ economy remains strong with positive operating figures for the hotel industry there, as well as throughout all of Europe,” he said. “This transaction offers excellent opportunities for both the buyer and seller.”

HVS Hodges Ward Elliott will manage the transaction out of its London office. The company acts as sell-side advisor in European hotel real estate transactions. Additional information about the company may be found at http://www.hvshwe.com/.

Contact:
Rudy Reudelhuber
HVS Hodges Ward Elliott
1 Lancaster Place
London WC2E 7ED
UK
Tel: +44 207 257 2000
Fax: +44 207 257 2009
http://www.hvshwe.com/ or

Jerry Daly or Chris Daly, U.S. media

Daly Gray

703 435 6293

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