Saturday, March 29, 2008

Rome Cavalieri to Join the Prestigious Waldorf=Astoria Collection®



After Four Decades as Italy’s Leading Hotel, Rome Cavalieri (photo above) Becomes the First Hotel in Europe and the Sixth Globally to Join the Luxury Brand of Hilton Hotels Corporation


ROME--Hilton Hotels Corporation has announced that the Rome Cavalieri Hilton, the preferred hotel for global travellers to the Eternal City and the hub for Rome’s society set, will become the first European property to join The Waldorf=Astoria Collection.


“For 45 years, the Rome Cavalieri hotel has been an intrinsic part of Rome’s social fabric and has astonished world travellers with its gracious hospitality, museum-standard collection of art and its grand hilltop setting offering unrivalled views over the Eternal City. This is a magnificent hotel and a pivotal addition to The Waldorf=Astoria Collection,” said Mr. Wolfgang M. Neumann, President for Hilton Hotels Europe.


Welcoming this, the sixth hotel in The Waldorf=Astoria Collection, Ian Carter, (photo at right) President of Global Operations, Hilton Hotels Corporation, said, “Selection for The Waldorf=Astoria Collection is exclusive and only landmark hotels with a reputation for superior service, original architecture or artistic and historical significance receive such designation. Rome Cavalieri meets our parameters and sets a very high reference point for the brand in Europe. The Rome Cavalieri is the perfect first hotel for The Waldorf=Astoria Collection in Europe, and we are excited to welcome it to our growing Collection.”


The Waldorf=Astoria Collection currently has four properties in the United States, comprising the inspiration for the brand, the legendary Waldorf=Astoria® in New York, Arizona Biltmore Resort & Spa in Phoenix, Arizona, Grand Wailea Resort Hotel & Spa in Maui, Hawaii, and La Quinta Resort & Club in Southern California. Only one other property has been designated internationally, the 46-suite Qasr al Sharq or “Palace of the Orient” which opened in Jeddah on June 1, 2006 and joined the collection in December, 2006.


Marcus & Millichap Lists 43-Room Hotel in Miami Beach, FL for $12.5M


MIAMI BEACH, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Leslie Hotel, (above photo) a 43-room hotel in Miami Beach.


The listing price of $12.5 million represents $290,698 per room. Mark Wohl, a senior associate and associate director of Marcus & Millichap’s National Hospitality Group in Miami, Jason Goldfarb, an associate in the firm’s Miami office, and Lawrence Usher, investment specialist also in the firm’s Miami office, are representing the seller.


“Leslie Hotel is an excellent value-add opportunity located on an infamous street in one of the most desirable cities in the world,” says Wohl.

Located at 1244 Ocean Drive, the hotel is situated on a 7,150-square foot lot, less than 15 minutes from the Miami International Airport and 30 minutes from the Fort Lauderdale International Airport. Originally built in the South Beach Art Deco spirit of the 1930s, the hotel has undergone recent renovations.




CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Holliday Fenoglio Fowler's Recently Closed Transactions

PITTSBURGH, PA--Here are Holliday Fenoglio Fowler LP's transactions closed in the last 90 days.


HFF operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated and national capital markets platform, including debt placement, investment sales, structured financed, private equity, note sales and note sale advisory services and commercial loan servicing.


For additional, information, please visit http://www.hfflp.com/.




SOURCE OF PHOTOS:

Holliday Fenoglio Fowler LP
One Oxford Centre
301 Grant St., Suite 600,
Pittsburgh, PA 15219

Register For MBA's Reverse Mortgage Lending Conference

WASHINGTON, DC--The Mortgage Bankers Association (MBA) presents its 2008 Reverse Mortgage Lending Conference.

As an evolving loan product, reverse mortgages are offering baby boomers another option as part of their overall retirement and wealth management plan.
MBA's inaugural Reverse Mortgage Lending Conference provides a unique forum for real estate finance professionals to participate in advanced discussions about originator and equity investor interests in reverse mortgages.


The program also provides up-to-date information about new technologies being developed to help reverse mortgage lenders operate more efficiently. Members of the media are encouraged to attend panel sessions and roundtable discussions to gather the most up-to-date information on reverse mortgage real estate trends.

Special keynote speakers/panelists include:

· Rob E. Story, Jr., (photo at right) CMB, Vice Chairman of the Mortgage Bankers Association and President of Seattle Financial Group
· The Hon. Brian D. Montgomery, (photo top left) Assistant Secretary for Housing, Federal Housing Authority Commissioner, U.S. Department of Housing and Urban Development (HUD)
· Jeffrey S. Taylor, CMB, Vice President of Senior Products, Wells Fargo Home Mortgage
· Margaret Burns, Director of Office of Single Family Program Development, U.S. Department of Housing and Urban Development
· Justin Burch, Senior Marketing Analyst, Ginnie Mae
· Elaine Eaton, First Vice President of Operations, Financial Freedom Senior Funding Corporation
· Jay H. Meadows, Chief Executive Officer & President, Rapid Reporting Verification Company
· John Lunde, President, Reverse Market Insight, Inc.
· Patrick Fitzsimonds, Director of Reverse Mortgage Banking, UBS
· Harry A. Gardner (photo at right) Vice President of Industry Technology, Mortgage Bankers Association

Session topics include the latest developments in:

· Reverse Mortgages 101
· Improvements to the Reverse Mortgage Products by HUD, Fannie Mae and Ginnie Mae
· Counseling Update and Options for Consumers
· Mortgage Fraud: Common Schemes and How To Detect Them
· Education: The Key to a Successful Reverse Mortgage
· Reverse Mortgage Servicing
· Legislative and Regulatory Roundup
· Current Origination Issues for Reverse Mortgages in Securitizations

WHEN: April 10 - 11, 2008

WHERE: The Westin Horton Plaza
San Diego, CA

CONTACT: Press credentials must be approved in advance. To apply for press credentials, please contact:

Jason Vasquez
(202)557-2950jvasquez@mortgagebankers.org

For more information, please visit MBA's Reverse Mortgage Conference Web site at: http://events.mortgagebankers.org/rml2008/default.html.

Media Podcast: MBA Comments on Shifting Landscape of Tax Credit and Multifamily Markets

WASHINGTON, DC - - The Mortgage Bankers Association's (MBA) Senior Vice President of Multifamily and Governance, Cheryl Malloy (photo at right) examines the recent removal of GSE portfolio growth caps by OFHEO and provides assessment of the current issues facing tax credit programs.

Malloy also comments on the spillover from the single family residential market into the multifamily market, sheds light on the importance of GSE reform and pending legislation that could enhance the tax credit market.

The Podcast recording can be accessed by clicking HERE.

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 370,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's Web site: http://www.mbaa.org/.

CONTACT:

Jason Vasquez
(202) 557-2950
jvasquez@mortgagebankers.org

Marcus & Millichap Lists 96.65 Acres in Port Arthur, TX



(Photo above of Delta Queen moored in front of Port Arthur City Hall)
PORT ARTHUR, TX-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for 96.65 acres of land in Port Arthur.

Sheri Carey and Jeffrey Fript, both investment specialists in the Houston office of Marcus & Millichap, are representing the seller, a Houston-based limited partnership.

“Port Arthur is experiencing rapid growth due to the expanding oil and gas industry, which dominates the local economy. An investor will have multiple options to capitalize on this growth since this property is ideally suited for a mixed-use development of retail and housing,” says Fript.

Located on Highway 69 between 60th and 67th streets, the property is comprised of four parcels, just one mile away from the primary retail intersection in Port Arthur, including the Central Mall. The property is adjacent to the new Port Arthur High School site and in close proximity to the newly opened Medical Center of Southeast Texas. (Photo at left is Port Arthur dock)





CONTACT:


Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/





Marcus & Millichap Sells Multi-Tenant Office Building in Des Plaines, ILL for $11.6M



DES PLAINES, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale a 145,482-square foot, multi-tenant office building in Des Plaines. The sales price is $11.6 million.



Howard Wiese, (photo at right) senior vice president of investments and senior director of Marcus & Millichap’s National Office and Industrial Properties Group, and Frank Roti, an investment specialist also in the firm’s Chicago office, represented the seller, 999 East Touhy LLC, an entity controlled by the principals of Marc Realty. Marcus & Millichap also represented the buyer, Siete 7 LLC.


“This new owner of this investment-grade, five-story office building can achieve rent increases by repositioning the asset,” says Wiese. “The buyer will initially occupy approximately 30,000 square feet in the building, and has plans to expand its space over time.”


Located at 999 East Touhy Ave., the office asset is situated on a 5.97-acre lot with frontage on the Northwest Tollway (Interstate 90) as well as easy access to the Tri-State Tollway (I-294). The property is located just north of the O’Hare International Airport in Chicago and features excellent visibility from I-90 along with signage for a major tenant to utilize.


CONTACT:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/