Mercantile Commercial Capital Reports Four Commercial Loan Closings in June Totaling More than $8.2M

ALTAMONTE SPRINGS, FL --- Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business, reports it closed on four commercial loans in June that totaled more than $8.2 million.

Christopher Hurn, (top right photo) president and chief executive officer of Mercantile Commercial Capital, said a $3.2 million loan to refinance an Orlando auto repair facility was the month’s largest.

June loan closings included:

• MDG Property Holdings, LLC and Best Choice Collision Center acquired a 13,000 square-foot stand-alone automobile service center in Orlando with a five-year fixed interest rate, 10 percent down and a 25-year fully-amortizing term. The total project cost was $3,220,000;

• Copper Kettle, Inc. to renovate a 4,300 square foot restaurant facility in Nashville, Tenn. with a five-year fixed interest rate, 10 percent down and a 25-year, fully-amortizing term. The total project cost was $1,300,000;

• ENC Realty and Mandell’s Clinical Pharmacy to renovate a 28,100 square foot pharmacy in Franklin, N.J. with a five-year year fixed interest rate, 10 percent down and a 25-year fully amortizing term. The total project cost was $3,005,000.

Hurn said that since January, Mercantile Commercial Capital closed 22 commercial loans that totaled more than $35.3 million to finance $40.5 million in total project costs in thirteen states.

Despite widespread losses and generally diminished demand in the mortgage industry, the firm’s loan volume is up over the first half of 2007. Their revenues are up 8.23 percent and profits up 6.84 percent during the first half of the year over the same period last year.

Hurn attributed Mercantile Commercial Capital’s growth to aggressive niche marketing and a sharp focus on small businesses owners.

“For the typical small business owner, access to capital is just as important during a robust market cycle as a slow growth period,” Hurn said.

Hurn said Mercantile Commercial Capital’s loan volume has increased steadily during each of its five years of operation. “We don’t anticipate that trend will change,” Hurn said.

For more information, please contact:

Chris Hurn, Mercantile Commercial Capital LLC, 407-786-5040

Geof Longstaff, Mercantile Commercial Capital, LLC. 407-786-5040 (top left photo)

Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Orlando Sanford International Airport Leases 1,500 SF of Industrial Space at Airport Commerce Park to Mailtime, Inc.

SANFORD, Fla. – Mailtime Inc.. has leased 1,500 square feet of industrial space at the Airport Commerce Park’s Enterprise Center at Orlando Sanford International Airport. (top right photo)

Diane Crews, vice president of administration at Orlando Sanford International Airport, said Mailtime Inc. will providedirect mail and drapery design services.

For more information, please contact
Diane Crews, Sanford Airport Authority, 407-585-4002 dcrews@OSAA.net

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com.

Number of Loan Origination Requests Dips in June, Cambridge Realty Capital Companies Reports

CHICAGO, IL--Cambridge Realty Capital Companies says the impact of the credit crisis is beginning to be more noticeable in the number of loan origination requests the company reviews and tallies on a monthly basis.

In June, Cambridge processed 22 loan origination requests for loans totaling $250.8 million. For the same month last year, the tally was 39 requests totaling $386.8 million, Cambridge Chairman Jeffrey A. Davis (top right photo) reports.
Through the first half of the year the number of loan requests reviewed by the company dropped to 174 from 190 a year earlier, but the dollar volume for the current year has been somewhat higher, $2.7 billion compared with $2.4 billion in 2007.

Although lenders close a relatively small percentage of the loan origination requests received, it’s useful to track this information as an indication of market directions, Davis believes.

“While the number of origination requests have remained relatively high this year, the sharp decline in June may be telling us that borrowers are beginning to believe what they've been hearing about the availability of funding in a tight market. As part of the same pattern, we’re also beginning to get more selective regarding the transactions we actually log in and work on,” he said.

CONTACT:

Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611 E-Mail: ew@cambridgecap.com

Thomas Christopher Appointed Director in Arbor’s Darien, CT Office

UNIONDALE, NY- - Arbor Commercial Mortgage announces the appointment of Thomas Christopher (top right photo) to Director in Arbor’s Darien, CT office.

Mr. Christopher will be responsible for all of Arbor’s loan products including Fannie Mae, FHA and CMBS. He reports to Ken Fazio, (top left photo) Vice President, National Sales Manager.

Prior to joining Arbor, he held the position of Banker, Sales Manager for Countrywide Commercial Real Estate Finance, where he was a founding member of the company’s Advantage Loan program. As the number-one sales producer in the nation, he originated 70 loans totaling $140 million within six months of production.

Before Countrywide, Mr. Christopher was a Senior Loan Consultant at Washington Mutual Bank. In this role, he acted as a primary member of the firm’s Multifamily Lending Team, booking $90 million in assets in 2005 and $100 million in 2006. He also held positions with Citibank, Hudson Valley Bank, The Bank of New York, Bank Leumi Trust Bank and Chemical Bank.

Mr. Christopher received a Jurist Doctorate from Pace University School of Law, a Master of Business Administration from Iona College and a Bachelor of Arts from the State University of New York at Binghamton. He resides in Darien, CT.

The Harris Group of Marcus & Millichap Sells Four-Property Apartment Portfolio in Tulsa, OK for $53M

TULSA, OK – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a four multi-family portfolio, totaling 1,552 units, in Tulsa. The sales price of $52.95 million represented approximately $34,140 per unit.


Gregory Harris, an executive vice president investments and senior director of the firm’s National Multi Housing Group in Encino; and Chadd Davis, a multi-family investment specialist in the Encino office, represented the seller, Macco Properties, and the buyer, the Redfern Family Trust.

David Bohanon, an investment specialist in Marcus & Millichap’s Oklahoma City office, assisted in the transaction.

This acquisition marked Redfern’s first real estate transaction outside of California. “Initially, we had concerns about entering another state, but The Harris Group of Marcus & Millichap made us feel confident about our investment strategy,” says Tom Redfern, co-trustee of the Redfern Family Trust. “The research, due diligence and guidance we received from The Harris Group was integral to our investment decision.”

“The Redfern Family Trust required a 1031 exchange with immediate cash flow,” says Harris. “By using Marcus & Millichap’s unique marketing system, we were able to locate assets outside of Southern California offering returns that satisfied the requirements of his (Redfern’s) tax-deferred exchange.”

The portfolio includes:

· A 440-unit, 307,600-square foot multi-family complex at 7324 South Wheeling Avenue.
· A 512-unit, 307,600-square foot multi-family community located at 4414 South Garnett Road.
· A 216-unit, 149,600-square foot apartment asset located at 4404 South 109th East Avenue.
· A 384-unit, 278,400-square foot apartment complex at 2102 East 51st Street.

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

HFF to market for sale luxury residential building in Manhattan’s West 42nd Street Corridor

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale Riverbank West,(above centered photo) a 44-story, 418-unit luxury residential building in Manhattan’s West 42nd Street Corridor.

HFF senior managing director Joe Morningstar and managing director Andrew Scandalios (top right photo) will lead the investment sales team on behalf of the owner.

Riverbank West is located at 560 West 43rd Street in the West 42nd Street corridor, (bottom left photo) a residential submarket comprised primarily of newly constructed luxury rental and condominium product. The property, which historically has enjoyed occupancy in the high 90s, has a private driveway and plaza and 85% of the apartments have balconies.

“Riverbank West presents a unique and very rare opportunity to acquire a ‘core’ apartment building in Manhattan, the most dynamic residential rental market in the country,” said Morningstar. “The stability of the property’s revenue streams can be further enhanced through the execution of a number of ascertainable value-add strategies. Riverbank will command unprecedented investor attention and trade at aggressive pricing.”

HFF (NYSE: HF) 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 national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

CONTACTS:

Joseph W. Morningstar, HFF Senior Managing Director, 212 245 2425, jmorningstar@hfflp.com

Andrew G. Scandalios, HFF Managing Director, 212 245 2425, ascandalios@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com