Saturday, April 5, 2008

Thomas D. Wood Brokers $2.8M Loan for US Forest Services and Bureau of Land Management Complex



ORLANDO, FL—Daniel Byrnes, (photo top right) Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $2,800,000 for the U. S. Forest Services and Bureau of Land Management Complex in Buffalo, Wyoming. (Buffalo skyline in top photo)

Byrnes financed the non-recourse loan through a regional credit union at a permanent fixed rate of 6.5%, with no pre-pay penalty. The term is 10 years with a 30-year amortization, and a loan-to-value of 80%. The 28,013 square-foot General Services Administration complex was built in 1996.

CONTACT:
Daniel Byrnes
(407) 937-0470

Jessica Gurtowski
(407) 937-0470
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North Fulton Improvement Community District to Host Second Blueprint North Fulton Public Meeting


ATLANTA, GA--The North Fulton Community Improvement District is hosting the second “Blueprint North Fulton” public meeting on April 16 to discuss the future growth of the region.

WHAT: The second “Blueprint North Fulton” meeting, part of a master-planning process for future growth in the North Fulton Community Improvement District (CID). The North Fulton CID stretches along Georgia 400 from Mansell Road to McGinnis Ferry Road, and includes parts of the cities of Alpharetta, Milton and Roswell.

The meeting will focus on the future of three specific growth areas:
§ Windward Parkway area
§ Old Milton area
§ North Point Mall/Mansell Road area


Employees and residents in these areas are invited to attend.

WHEN: Wednesday, April 16
6:30 p.m. – 8:30 p.m. Refreshments will be provided.

WHERE: Windward Marriott
5750 Windward Parkway
Alpharetta, GA 30005
*Directions are also provided below

WHY: “Blueprint North Fulton is a comprehensive process that will guide development within the CID for the next 20 years,” said Ann Hanlon, chief operating officer of the North Fulton CID. “We hope to drive smart growth in North Fulton by developing this master plan and working with local developers and government agencies to see that the plan is followed as much as possible. The cities of Roswell, Alpharetta and Milton are already fully engaged. In our second meeting, we hope to engage the business and residential communities as well.”

More than 70 people attended the first Blueprint North Fulton meeting on January 30. Attendees participated in the North Fulton Compass, a visual preference survey that revealed North Fulton may be ready for mixed-use, walkable developments. Learn more about the North Fulton Compass Survey at http://www.northfultoncid.com/.

MEDIA INQUIRIES/CONTACT INFORMATION:
§ Hadley Hickman, Jackson Spalding, 404-419-9346 or cell, 404-556-0010
§ Ann Hanlon, North Fulton Community Improvement District, 678-397-0566

DIRECTIONS: Take GA 400 North to Exit # 11 Windward Parkway. At the end of the ramp, turn right. Turn left at the first light onto North Point Parkway, and left into hotel parking.
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Arbor Closes $1.15M Fannie Mae DUS® 3MaxExpress® Loan on Hilliard Arms in Hilliard, OH


UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,150,000 loan under the Fannie Mae DUS® 3MaxExpress® product line to refinance the 32-unit complex known as Hilliard Arms (photo above) in Hilliard, OH.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.71 percent. * DUS and 3MaxExpress are registered marks of Fannie Mae

The loan was originated by Alexander Kaushansky, (photo top right) Director, in Arbor’s full-service New York, NY lending office. “We ensured that all of the client’s needs were met,” said Kaushansky. “I’m proud we were able to provide the borrower with the lowest rate of any deal he has financed previously.”



CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298

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Arbor Closes $5,318,900 Fannie Mae DUS® Loan for Mission Hill Portfolio in Boston, MA


UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,318,900 loan under the Fannie Mae DUS® product line to refinance the 18-unit complex known as Mission Hill Portfolio (photo above) in Boston, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.59 percent. * DUS and 3MaxExpress are registered marks of Fannie Mae

The loan was originated by John Kelly, (photo top right) Director, in Arbor’s full-service Boston, MA lending office. “Arbor was glad to provide financing for a repeat client, who again demonstrated their fine workmanship and excellent developmental strategy for this neighborhood,” said Kelly “The units are designed to market the housing needs of the neighboring medical community.”

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.

CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298

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Arbor Closes $2M Fannie Mae DUS® 3MaxExpress® Loan for Sherwood Commons in New Milford CT

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,000,000 loan under the Fannie Mae DUS® 3MaxExpress® program to refinance the 36-unit complex known as Sherwood Commons (photo at left) in New Milford, CT.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.76 percent. * DUS and 3MaxExpress are registered marks of Fannie Mae.

The loan was originated by John Edwards, (photo at right) Director, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to refinance this well-positioned property,” said Edwards. “We look forward to future opportunities with this client.”










CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
www.Arbor.com
Ingrid Principe
Tel: (516) 506-4298

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HFF Arranges $2.4M Financing for Suburban Birmingham, AL Industrial Property

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $2.4 million in financing for 6717 Alabama Highway 157, (photo at left below) an industrial property in suburban Birmingham, Alabama.

HFF senior managing director Jon Mikula (top right photo) and associate director Michael Klein (photo at right below) worked exclusively on behalf of The Hampshire Companies to secure the 10-year loan through Webster Bank.

6717 Alabama Highway 157 is located in Cullman, approximately 50 miles north of Birmingham via Interstate 65. The borrower acquired the property in June 2007 as a sale/leaseback from Axsys Technologies, a designer and manufacturer of precision optical and motion control solutions for the aerospace and defense industries and for high-performance commercial markets. Axsys is leasing the property back under a 15-year triple net lease.

The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey with a portfolio of more than 17 million square feet of commercial space and assets valued at more than $1.5 billion.

Additional information on The Hampshire Companies and its funds is available online at http://www.hampshireco.com/.

CONTACTS:
Jon Mikula
HFF Senior Managing Director
973 549 2000

Laurie Fish McDowell
HFF Associate Director, Marketing
One Post Office Square, Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150
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Rent Growth Expected to Remain Strong in Washington, DC Office Sector

WASHINGTON, D.C. — Office-using employment in the Washington, D.C., metro will continue to expand in 2008, but at a more modest rate than in recent years, easing space demand, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.


Rent growth will remain strong due to limited space availability, asking and effective rents are each projected to surge 8 percent. (Photo of College Park, MD Metro Rail Station at left)

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. Washington, D.C., moves down four places this year to No. 6.

“Properties in close-in suburbs become more valuable every year, and the redevelopment of old assets in areas such as College Park and Falls Church could provide significant returns for patient investors,” says Ramon Kochavi, regional manager of Marcus & Millichap’s Washington, D.C., office.

Following are some of the most significant aspects of the Washington, D.C. Office Research Report:

· Employers will create 25,000 new positions in 2008 for a 0.8 percent growth.
· The marketwide stock of competitive office space will expand by 6.8 million square feet.
· Vacancy is forecast to end the year at 9.9 percent.
· Asking rents are expected to increase 5.1 percent to $37.10 per square foot, while effective rents advance 4.8 percent to $32.73 per square foot.
· Class B and Class C assets may be well-positioned to benefit from the next wave of new business startups that is likely to transpire when economic growth begins to pick back up again.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.

For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit http://www.marcusmillichap.com/.

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/
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Healthy Business Climate, Strong Population Growth Propel Tucson Office Market

TUCSON, AZ— Office property owners in Tucson will benefit from a healthy employment market and a lack of significant building in 2008, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.



The metro’s pro-business climate and robust household growth continue to encourage payroll expansion in population-driven employment segments.
Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. Tucson moves up four places this year to No. 11.


“The metro’s attractive long-term demand drivers and positive economic outlook will sustain investor activity in 2008,” says David Wetta, (photo top right) regional manager of Marcus & Millichap’s Tucson office.


Following are some of the most significant aspects of the Tucson Office Research Report:


· Employers are forecast to add 5,200 jobs this year, a 1.4 percent increase.
· Completions are projected to total approximately 75,000 square feet in 2008.
· Vacancy is expected to decline 70 basis points to 9.9 percent.
· Asking rents are forecast to climb 3.7 percent to $22.24 per square foot, while effective rents gain 4.4 percent to $19.20 per square foot.
· Opportunities may be found in the Central submarket, where the University of Arizona is driving population growth and limited new completions are bolstering fundamentals.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.
For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit www.MarcusMillichap.com.


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/
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Pinellas County, FL Struggles to Keep Office Vacancies in Check

TAMPA, FL--Randy Smith, Director of Research,
GVA Advantis Real Estate Services Co., says the Pinellas County office market struggled to keep vacancies in check during 2007, but by year-end, the slowdown in demand held the upper end.


In his year-end 2007 Pinellas Office Market Report, Smith says
annual net absorption went into the red for the first time since 2004 and the direct vacancy rate escalated 200 basis points over the course of
2007 to end the year at 17.0 percent.

However, rental rate growth was largely unaffected for the year as the average asking rate for class A and B space advanced 6.6 and 12.8 percent respectively. Weakening market conditions will significantly diminish any rent increases in 2008.

For 2007, office sales in Pinellas County reached a new annual highpoint with a transaction value totaling $336.1 million. This figure surpasses the total for 2005, the next highest sales year, by 81 percent. Asset values in Pinellas escalated again in 2007, with Class A buildings showing the sharpest increases.


The average sale price for Class A properties averaged $175.56 per square foot for 2007, a substantial 21.4 percent boost from the previous year.

It does not appear that the storm clouds on the national economy will dissipate anytime soon and in 2008 Florida will continue to be impacted by the housing downturn.

The local job market is expected to remain weak for most of 2008, with the exception of the education and health services sectors, which averaged a solid employment growth rate of 4.2 percent for 2007.

The conservative pace of new office construction in Pinellas will help stabilize the market until the economy improves.

CONTACT:

Randy Smith
Director of Research
Advantis Real Estate Services Company
3000 Bayport Drive, Suite 100
Tampa, FL 33607
Tel 813.342.4725
Fax 813.372.4004E-mail


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Tampa Office Vacancy Expected to Rise for Second Consecutive Year

TAMPA, FL— Office vacancy in Tampa fell 500 basis points from 2003 to 2006 but is now expected to rise for a second successive year, according to the 2008 National Office Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Recent improvements in market fundamentals have been attributable to vigorous demand for Class A space in areas such as the Westshore and North Tampa submarkets.

Also included in the report is the firm’s annual National Office Index (NOI), a snapshot analysis that ranks 43 office markets based on a series of 12-month forward-looking supply and demand indicators. Tampa moves down six places this year to No. 19.

“Investors may want to consider the historically reliable performance of properties and view the current dip in prices as an opportunity to explore potential purchases,” says Steven M. Ekovich, (top right photo) regional manager of Marcus & Millichap’s Tampa office.

Following are some of the most significant aspects of the Tampa Office Research Report:

· Employers are expected to expand payrolls 1.1 percent with the addition of 15,300 positions.
· Developers will deliver 800,000 square feet of for-lease office space.
· Vacancy is forecast to end the year at 12.7 percent.
· Asking rents are expected to climb 4.2 percent this year to $22.76 per square foot, while effective rents rise 4 percent to $19.65 per square foot.
· Areas along Interstate 4 and Interstate 75 in East Tampa are poised for population growth, as well as corresponding rise in office-using employment and office demand.

In the 2008 NOI, Seattle moved up three places to secure the No. 1 spot, surpassing last year’s leader New York City, which slipped to No. 2. Boston moved up two spots to No. 3, while San Francisco jumped 12 places to the No. 4 position. Los Angeles slipped two spots, coming in at No. 5.
For a copy of Marcus & Millichap’s National Office Report and the complete NOI rankings, visit www.MarcusMillichap.com.

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/
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