GVA Advantis Retained by Tower Realty Asset Management to Exclusively Lease Airport Corporate Center and Bay Tec Center

TAMPA, FL – (June 30, 2008) – GVA Advantis is pleased to announce it has been retained by Tower Realty Asset Management to exclusively lease both Airport Corporate Center in Tampa, Hillsborough County, Florida, and Bay Tec Center in St. Petersburg, Pinellas County, Florida.

Both flex portfolios will be exclusively represented by Paula Buffa, (top right photo) CCIM, senior director of office services and Lauren Geller,(top left photo) associate of office services with GVA Advantis.

“We are looking forward to teaming with Tower Realty to lease these two exceptional flex projects,” says Geller. Each provides tenants a prime location in both the Pinellas Gateway submarket and the Westshore / Airport submarket.”

Airport Corporate Center (middle left photo) is comprised of six flex buildings in the Westshore / Airport submarket. Located at 6702 – 6712 Benjamin Road in Tampa, the portfolio totals 107,540 square feet and was built in 1982.

Bay Tec Center (bottom right photo) consists of eight flex buildings totaling approximately 125,000 square feet. Built in 1985, the portfolio is located at 2810 - 2880 North Scherer Drive (Buildings A – H) in St. Petersburg in the Pinellas Gateway industrial submarket.

GVA Advantis is a full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate properties and sites. The company also provides tenant representation, corporate real estate, construction and project management services.

GVA Advantis employs approximately 400 people, leases and manages more than 30 million square feet of commercial facilities, and had an annual transaction volume of approximately $1.5 billion in 2007.

Including its headquarters in Atlanta, the company has 15 regional offices throughout the Southeast and Mid-Atlantic. For more information, visit www.gvaadvantis.com.

GVA Worldwide is an international organization of real estate industry leaders serving key markets in 20 countries. The organization comprises more than 3,750 real estate professionals in 95 markets worldwide. In 2007, GVA Worldwide partners collectively completed $35 billion in transactions and managed more than 165 million square feet of office, industrial, retail and specialized property.

A leading advisor in commercial real estate, GVA Worldwide optimizes client portfolios locally and around the world. It serves the real estate needs of clients including multinational corporations, major space users, developers, owners, institutions, lenders and investors. For more information, visit www.gvaworldwide.com.

For more information, visit http://www.gvaworldwide.com/.

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
Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

Georgia Senior Housing Property Sells for $55.6M

TAMPA, FL --CLW Health Care Services Group is pleased to have represented Coastal Community Retirement Corporation in the sale of Marsh’s Edge, (top right photo) a premier Entrance Fee Continuing Care Retirement Community located in St. Simons Island, Georgia. (Lighthouse photo middle left)

The 75-acre campus is comprised of:

• 30 Cottage Homes
• 110 Independent Living Apartments
• 52-unit Health Center (Assisted Living, Alzheimer’s and Skilled Nursing)

The purchase price was $55,600,000 ($289,583 per unit).

CLW Health Care Services Group is a division of CLW Real Estate Services Group, a national, commercial real estate firm providing investment sales, multi-market tenant representation, project management, and construction services throughout the United States. CLW Health Care Services Group specializes in exclusively representing sellers throughout the United States in the sale of Senior Housing properties. CLW has sold over one billion dollars in Senior Housing assets.

Konover South Announces Metro PCS Lease at Its New Inverrary Falls Retail Center in Lauderhill, FL

LAUDERHILL, FL – Deerfield-based Konover South, LLC, one of the Southeast’s premier retail developers, announced that Metro PCS has signed a lease for 1,250 square feet at its new Publix-anchored, 85,000-square-foot Inverrary Falls retail center at Oakland Park Boulevard and Inverrary Boulevard in Lauderhill, Broward County, FL.

Company leasing specialist Vivian Ricardo represented Konover South in the transaction. Other major tenants include Bank Atlantic, Blockbuster Video, Golden Krust, Gourmet China, H&R Block and Urban Land LLC as well as Little Caesar’s, the UPS Store, Wachovia Bank and others.

Konover South, LLC, a fully integrated acquisition, development and management company operating throughout the southeastern U.S., is based in Deerfield Beach, FL. Visit the company’s website at http://www.konoversouth.com/.

CONTACT:

Kenneth H. Cristol, President, Cristol Marketing Company, 237 Hunt Club Blvd., Suite 102, Longwood, FL 32779 USA. PH 407-774-2515. FX 407-774-6647. Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications
khc@crismktg.com http://www.crismktg.com/

Marcus & Millichap Lists $242.95M Apartment Portfolio in Three States

ENCINO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the Premier EPM Portfolio, a 10-property, 2,704 unit-apartment portfolio located in Indianapolis, Fort Wayne, Ind., Omaha, Neb., and Gainesville, Ga.

The listing price of $242.95 million represents a value well below replacement costs. The properties are being offered as a portfolio or separately.

Matthew Friedman, an associate vice president investments and director of Marcus & Millichap’s National Multi Housing Group in Encino, is representing the seller, Empire Corporate America.

Colin Atkinson, an investment specialist in the firm’s Indianapolis office; Daniel Goaley, an investment specialist in the firm’s Omaha office; and Elliott Hollander a senior associate in the firm’s Atlanta office; are also representing the seller. Empire Corporate America is a private investor that owns and operates multi-family properties throughout the United States.

“Upon acquiring this portfolio, an investor has the opportunity to gain control of a substantial portfolio of Class A properties that are all well located within their respective markets. With a current occupancy in the mid-90 percent range, this portfolio offers stable cash flow, rental and operational upside, and quality construction in locations with inherent growth potential,” says Friedman.

Built in phases between 1997 and 2007, these luxury communities offer extensive resort-style amenities and first-class unit accommodations. The properties range in size from 224 units to 330 units. In Indianapolis, there are a total of 1,296 units; 546 units in Fort Wayne., Ind.; 570 units in the Omaha Neb., area; and 292 units in Gainesville, Ga.

The portfolio includes:

· Avon Creek, (top left photo) located at 291 Great Lakes Circle West, Avon, Ind.; 256 units
· Brownsburg Crossing, located at 1122 Windhaven Circle, Brownsburg, Ind.; 224 units
· Greenfield Crossing, located at 2011 North East Bay Drive, Greenfield, Ind.; 272 units
· Saratoga Crossing, located at 4200 Stillwater Blvd., Plainville, Ind.; 240 units
· Settler’s Run, located at 3200 Prairie View Trail, Danville, Ind., 304 units
· Reserve at Dawson’s Creek, located at 401 Augusta Way, Fort Wayne, Ind.; 274 units
· Island Club, located at 2302 East Wallen Road, Fort Wayne, Ind.; 272 units
· The Landings, (bottom left photo) located at 10215 Cape Cod Landing, Bellevue, Neb.; 240 units
· The Outlook, located at 2882 Comstock Plaza, Bellevue, Neb., 330 units
· Empirian Lanier at Carrington Park, (top right photo) located at 150 Carrington Park Drive, Gainesville, Ga.; 292 units.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

Hilton Birmingham Perimeter Park Announces Property Wide Renovation

$6.5 million of Upgrades Checking in This summer to Further Enhance the Guest Experience

ATLANTA, Ga.-June 30, 2008- Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today announced the launch of a $6.5 million dollar substantial renovation to Noble’s 8- story full-service Hilton Birmingham Perimeter Park (top right photo).

The renovation will include full upgrades to all of the Hilton’s 205 guestrooms, 10,000 square feet of event and meeting space and is scheduled for completion in October of this year, as the hotel prepares to celebrate 25 years of iconic service in Birmingham, Alabama.

"This is an exciting time for all of us at the Hilton Birmingham Perimeter Park as we reach the 25 year mark of being an intricate part of our community,” said Mohammad Nilieh, the Hilton’s general manager. “The hotel will remain open during the extensive $6.5 million dollar renovation as the Noble development team, among the very best in the industry, is committed to ensuring our guests experience minimal impact during the renovation.”

“The Hilton Birmingham Perimeter Park has been a strong partner with the CVB for many years,” said James H. Smither, president of the Greater Birmingham Convention and Visitors Bureau. “Their multi-million dollar renovation will bring even more appeal to the group of hotel properties along the 280 corridor. We congratulate the Hilton on 25 years of adding ‘the spirit of hospitality’ to our community.”

Media Contacts:

Bonnie Herring, Noble Investment Group, 404-262-9660 bonnie.herring@nobleinvestment.com

Chris Daly, Vice President, Daly Gray Public Relations. ph: 703-435-6293, chris@dalygray.com