HFF closes $23.6M sale The Carlyle Apartments in Hackensack, NJ

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it participated in the sale of The Carlyle Apartments, (middle left photo by Emporis) a 13-story, 128-unit Class A multifamily building in Hackensack, New Jersey.

HFF senior managing director Thomas Didio (top right photo) represented the seller, Carlyle Apartments, Tenants in Common. The property was purchased by a local investor for $23.6 million.

The Seller was an entity controlled by Hekemian & Company, Inc. a family-owned real estate management and development company with a focus on the Northeast and Mid-Atlantic real estate markets.

“HFF did a fine job representing the partnership selling the property,” said Robert Hekemian Jr., a principal at Hekemian.

Located at 380 Prospect Avenue in Hackensack, The Carlyle Apartments is less than six miles northwest of Manhattan and close to Interstates 80/95 and the Garden State Parkway.

The 95% leased property has 89 one-bedroom and 39 two-bedroom units averaging 864 square feet each. Community amenities include a swimming pool and a 124-space parking garage.

“The Carlyle offers strong stable current returns with potential for significant appreciation from the robust rental rate growth projected for the Hackensack submarket and Northern New Jersey, HFF is pleased to have represented the Hekemian Company in the sale of this asset,” said Didio.

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:

Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000, tdidio@hfflp.com

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

Harkins Development Corp. completes interior build-out at new multimillion-dollar Massey Services Corporate Office Complex in Orlando, FL

ORLANDO, FL – Harkins Development Corporation, a division of Orlando-based Harkins Companies, completed a $3 million interior build-out at the new multimillion-dollar, 5-story, 50,000-square-foot Massey Services Corporate Office Complex located at 3100 Clay Avenue in Orlando, FL.

The building shell was constructed by Brasfield & Gorrie LLC, Orlando, according to Matt Harkins (top right photo), president of Harkins Development Corporation, the full-service development, general contracting and tenant improvement division of Harkins Companies. He added that Powell Design Group, Orlando, served as project architect.

Harkins awarded $6M contract for upscale Heritage Hills amenities in Clermont, in Lake County, FL

ORLANDO, FL – Harkins Development Corporation, the full-service design-build development and general contracting division of Orlando-based Harkins Companies, was awarded a $6 million contract to construct an upscale 16,000-square-foot clubhouse, pool, basketball, bocce ball and tennis courts, as well as gazebos, monument signs and site work at Lennar Homes’ Heritage Hills (photo at right) in Clermont, in Lake County, FL.

Company president Matt Harkins said the project will commence construction on August 15 and is slated for completion on July 1, 2009. He added that the 8-acre complex was designed by Tisch and Associates, Fort Myers, FL. Harkins Development also recently completed the community’s guardhouse and has constructed numerous residential amenity projects for Lennar Homes and other national homebuilders.

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

Contact: Kenneth H. Cristol 407-774-2515

Great Wolf Resorts Reports Second Quarter Results

Posts Year-to-Date Same Store RevPAR Gain of 4.2 Percent

MADISON, WI/PRNewswire-FirstCall/ -- Great Wolf Resorts, Inc. (Nasdaq: WOLF), North America's leading family of indoor waterpark resorts, has reported results for the second quarter ended June 30, 2008.

"We had an excellent second quarter," said Randy Churchey, (top right photo) interim chief executive officer. "We were particularly pleased with our results in light of softness seen in the overall economy and the operating results of many other consumer discretionary-spending companies and lodging companies.

"Our Adjusted EBITDA of $14.0 million for the second quarter was toward the top end of our guidance. Also, our year-to-date same store revenue per available room (RevPAR) growth through June 30 - which effectively normalizes results for the effect of the shift in the timing of the Easter holiday and related school spring breaks for 2008 and 2007 - was 4.2 percent."

The company's net loss for the 2008 second quarter was $(4.1) million, or $(0.13) per diluted share, compared to a net loss of $(1.7) million, or $(0.05) per diluted share in the 2007 second quarter.

For a complete detailed copy of the company's news release, please contact Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297, julie@dalygray.com

Lodgian Reports 2008 Second Quarter Results

Adjusted EBITDA for Continuing Operations Rose 17.9 Percent; Corporate Overhead Reduced $2.2 million in Quarter



ATLANTA, GA PRNewswire-FirstCall/ -- Lodgian, Inc. (Amex: LGN), one of the nation's largest independent owners and operators of full-service hotels, has reported results for the 2008 second quarter ended June 30, 2008.

The "35 continuing operations hotels" comprise those Lodgian properties that are not held for sale as of June 30, 2008. A list of properties included in both continuing operations and held for sale is attached to this release.

Second Quarter 2008 Highlights for 35 Continuing Operations hotels:

-- Achieved a 0.3 percent improvement in revenue per available room (RevPAR) in the second quarter of 2008 compared to 2007 second quarter, despite the displacement caused by five renovations ongoing in the quarter.

-- Increased total revenue 0.3 percent, from $66.7 million in the 2007 second quarter to $66.9 million in the second quarter of 2008.

-- Increased Adjusted EBITDA (defined below) from $15.6 million to $18.4 million, a 17.9 percent improvement.

-- Improved Adjusted EBITDA margin from 23.4 percent in 2007 second quarter to 27.5 percent in 2008 second quarter.

-- Completed renovation work at the Marriott Denver International Airport (top right photo) and continued renovation projects at four other hotels.

For a complete detailed copy of the company's news release. please contact Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297, julie@dalygray.com

Post Properties Announces Second Quarter 2008 Earnings

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) has announced a net loss attributable to common shareholders of $(27.0) million for the second quarter of 2008, compared to net income available to common shareholders of $62.0 million for the second quarter of 2007.

Said David P Stockert, (top right photo) President and Chief Executive Officer, “We are taking the steps necessary to adjust our business plan to the realities of difficult current economic and financial market conditions.

"We have reduced the size and risk of our development pipeline and assessed the carrying value of our assets in order to maintain the strength of our balance sheet. With Post’s portfolio of high-quality, well located properties, moderate leverage and adequate liquidity, we believe we are positioned to navigate successfully this point in the economic cycle and to enhance the value of our business as conditions improve.”

On a diluted per share basis, the net loss attributable to common shareholders was $(0.61) for the second quarter of 2008, compared to net income available to common shareholders of $1.40 for the second quarter of 2007.

The net loss attributable to common shareholders was $(26.2) million for the six months ended June 30, 2008, compared to net income available to common shareholders of $84.6 million for the six months ended June 30, 2007.

For a complete detailed copy of the company's news release, please
contact Chris Papa, 404-846-5028 or P. Butler at pbutler@postproperties.com

Regency Centers Reports Second Quarter Results

JACKSONVILLE, FL--(BUSINESS WIRE)--Regency Centers Corporation (NYSE:REG) has announced financial and operating results for the quarter and six months ended June 30, 2008.

(Martin E. Stein Jr., top right photo, is Regency's chief executive officer.)

Funds From Operations (FFO) for the second quarter was $68.3 million, or $0.97 per diluted share, compared to $65.8 million and $0.94 per diluted share for the same period in 2007.

For the six months ended June 30, 2008, FFO was $129.5 million or $1.84 per diluted share, compared to $144.9 million or $2.07 per diluted share for the same period last year, a per share decrease of 11%.

The change in FFO per share is primarily related to transaction profits of $6.7 million in the first half of 2008 compared with profits of $33.5 million in the first half of 2007. Investment Trust industry.

Net income for common stockholders for the quarter was $31.9 million, or $0.45 per diluted share, compared to $44.4 million and $0.64 per diluted share for the same period in 2007.

Net income for the six months ended June 30, 2008, was $58.6 million or $0.83 per diluted share, compared to $96.4 million and $1.39 per diluted share for the first half of 2007.

For a complete detailed copy of the company's news release, please contact Lisa Palmer, 904-598-7636. http://www.regencycenters.com/

Grubb & Ellis Company Reports Second Quarter and First-Half 2008 Results

SANTA ANA, CA /PRNewswire-FirstCall/ -- Grubb & Ellis Company (NYSE:GBE), a leading real estate services and investment firm, has reported revenue of $167.0 million for the second quarter of 2008. Revenue for the six-month period ended June 30, 2008 was $327.5 million.

The Company reported a net loss of $5.1 million, or $0.08 per share, for the second quarter. The net loss for the first six months of 2008 was $11.0 million, or $0.17 per share, which included a second quarter non-cash charge of $8.9 million for catch-up depreciation and amortization related to the reclassification of assets held for sale to assets held for investment.

"We continue to execute on our strategy and leverage our strong brand to maximize Company performance, despite very challenging market conditions," said Gary Hunt, (top right photo) interim Chief Executive Officer.

"Our solid results and continued financial strength highlight the benefits associated with, and need for, the expansion of our platform and revenue stream that we achieved through the merger. Going forward, we will continue to identify synergies and eliminate redundancies throughout the organization, further streamlining the business to operate efficiently in a turbulent environment."

."We remain on track with the integration process and continue to see additional value in the combination of the two companies," said Richard W. Pehlke, (top left photo) Executive Vice President and Chief Financial Officer.

"We are a much stronger organization, both operationally and financially, than we were a year ago, and remain excited about the opportunities ahead.

"With sustained strength in key areas, including the Healthcare REIT, we continue to expect that our diversified platform will position the Company to reach an adjusted EBITDA for fiscal 2008 that meets or exceeds the combined companies' adjusted EBITDA of $74.8 million for 2007 on a non-GAAP basis."

For a complete detailed copy of the company's news release, please contact Janice McDill of Grubb & Ellis Company, +1-312-698-6707, janice.mcdill@grubb-ellis.com

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

Interstate Hotels & Resorts Reports Second-Quarter 2008 Results

ARLINGTON, VA /PRNewswire-FirstCall/ -- Interstate Hotels &Resorts (NYSE: IHR), a leading hotel real estate investor and the nation'slargest independent operator of full and select-service hotels, hs reported operating results for the second quarter ended June 30, 2008.

Highlights for the second quarter include:

-- RevPAR rose 4.0 percent for all managed hotel properties, compared to an average industry gain of 1.2 percent;

-- Added nine management contracts, representing the third consecutive quarter of higher unit count;

-- Signed a contract to manage its first property in India, an under- construction hotel in Vizag (Visakhapatnam) through India JV;

-- Opened first U.S. Starwood branded aloft Hotel, in Rancho Cucamonga, Calif., developed and co-owned with JV partner, The John Buck Company;

-- Signed contracts to manage company's first Cambria Suites, to be built near Atlanta Hartsfield Airport, to open in Q1 2009, and Crowne Plaza New Orleans, to open in Q4 2008. (site map at bottom left)

EBITDA from the company's seven owned hotels was $8.3 million in the 2008 second quarter and $15.3 million for the first six months as outlined below (in millions):

For a complete detailed copy of the release, please contact Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297, julie@dalygray.com.

Apartment Realty Advisors Retained to Broker Sale of One of the Most Significant Development Opportunities in Florida

ORLANDO, FL— Baldwin Harbor, (top right photo) the Crown Jewel of Central Florida is a 10.9 acre waterfront site spanning New Broad Street at Lake Baldwin in the Baldwin Park area of Orlando, Florida.

The Winter Park office of Apartment Realty Advisors (ARA) has been awarded this exclusive listing.

Recognized by Urban Land Institute as one of America’s top communities, Baldwin Park has
also received Florida’s top sustainable community award, the Baldwin Harbor development site anchors the nationally-acclaimed, 1,100-acre Baldwin Park and is adjacent to both the 188+-acre Lake Baldwin and Baldwin Park Village Center’s upscale restaurants, shops and office space.

With an irreplaceable, upscale, high barrier-to-entry location, the parcel represents the most extraordinary lakefront multifamily site in Central Florida.

Kevin Judd,(top left photo) senior vice president and Marc deBaptiste, (middle right photo) principal, are representing the seller in the disposition of the land.

The project consists of two available sites, located directly on 188-acre Lake Baldwin, and nestled on either side of the thriving Village Center’s collection of upscale restaurants, shops and office space. The 10.9-acres can be developed with up to 560 multifamily units, and up to 60,000± square feet of retail.

“With its beautiful lake frontage, immediate proximity to restaurants and shopping and
prestigious Baldwin Park address, this site is undoubtedly the premier multifamily
development site in the region,” said Judd.

For more information please visit our website at www.arausa.com/BaldwinHarbor

To schedule an interview with an ARA executive regarding this transaction or for more information about Apartment Realty Advisors, please contact Kevin Judd at judd@ARAusa.com or phone 407-975-6540 x101.

Contacts:

Kevin Judd, Amy Holland or Lisa Robinson
Apartment Realty Advisors (407) 975-6540, (404) 495-7300

judd@arausa.com

aholland@ARAusa.com

lrobinson@ARAusa.com
http://www.arausa.com/