Tuesday, August 12, 2008

Arbor Closes $5,999,300 Fannie Mae DUS® Loan on Strawbridge Green Apartments in Indianapolis, IN

UNIONDALE, NY, Aug. 12, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,999,300 loan under the Fannie Mae DUS® product line to finance the 190-unit complex known as Strawbridge Green Apartments (top left photo)in Indianapolis, IN.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.37 percent.

The loan was originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale lending office.

“The sponsors on this transaction purchased this property one year ago and were able to significantly improve operations within a short period. The property underwent considerable renovations, which assisted the sponsors in their pursuit to increase the occupancy to a stabilized level within seven months after their purchase,” said York.

“When the property was ready for permanent financing, Arbor was pleased to deliver competitive terms including three years of interest-only.”

Contact: Ingrid PrincipeTel: (516) 506-4298, iprincipe@arbor.com

CFA Announces Call for Entries for 2009 Projects of the Year Awards


MOUNT VERNON, IA (Aug. 12, 2008) – The Concrete Foundations Association (CFA) has announced the call for entries for the “2009 Projects of the Year” Award, formerly known as the “Basement of the Year”.

CFA is an influential organization within the construction industry that serves as an informational and networking tool for its members and carries out a multitude of educational and promotional efforts for the advancement of concrete foundation technology.

According to Ed Sauter, (top right photo) executive director of CFA, the Basement of the Year competition enables foundation contractors to display the wide range of projects that are being completed today. The technological advancements that have been made in the poured wall industry allow contractors to complete complex projects more efficiently, which helps ensure homeowners’ dreams are realized, said Sauter.

“Each year the projects submitted to this competition get more complicated and demonstrate the diversity afforded through poured wall foundations,” said Sauter. “With the increased focus we have created on technical and business competence, exposing the industry to the craftsmanship that exists is of utmost value.”

Voting takes place at the CFA booth during the World of Concrete in Las Vegas, Feb. 3--6, 2009 in Las Vegas and online at http://www.cfawalls.org/ beginning January 1st.

Free registration to the World of Concrete exhibits and seminar discounts can be obtained from the CFA website or through their various media sources. The rules and categories for submission can be found on the CFA website at http://www.cfawalls.org/awards/basement/index.htm.

CONTACT:

Jim Baty at 319-895-6940 or jbaty@cfawalls.org

Concrete Foundations Association, 113 First Street West, Mt. Vernon, Iowa 52314
319-895-6940, voice – 320.213.5556, fax, http://www.cfawalls.org/

JSK, LLC Purchases 24,350 SF Building on 4.5 Acres from 84 Lumber


TAMPA, FL-- The Dikman Company, Inc. announced that JSK, LLC purchased a 24,350 SF Building on 4.5 Acres from 84 Lumber located at 1102 N 50th Street in Tampa, Florida. JSK, LLC will lease the property to American Building Materials.

American Building Materials is a building material supplier that specializes in building products for the residential and commercial drywall contractor. Proud to be an American owned and operated company, American Building Materials has offices in Odessa, San Antonio and Tampa, Florida.

The Dikman Company represented the Buyer.
Contact: Bob Dikman, ALC, CRB, CCIM, SIOR 813/251-5288

Orlando-based Taurus Southern Investments announces sale of 6.4 acres at Central Florida Research Park to United Cerebral Palsy of Central Florida

ORLANDO, FL – Boston-based Taurus Investment Holdings and its Orlando-based subsidiary Taurus Southern Investments announced the sale of 6.14 acres at Central Florida Research Park adjacent to UCF in Orlando to United Cerebral Palsy of Central Florida.

UCP plans to construct its new state-of-the-art, 30,000-square-foot East Orange/Bailes Campus Facility on the site, according to Jeff K. McFadden, (top left photo) SIOR, Managing Partner of Taurus Southern. McFadden and Heidi C. Adams, (top right photo) Director of Leasing, represented the seller in the transaction.

Scheduled to open in August 2009, the $9.2 million project will be one of the only schools in the nation that focuses on the arts, technology and full inclusion. Services offered will include family support, Pre-K through third grade education, and therapy for children up to age 21.

“The goal of this project,” stated Ilene Wilkins, President and CEO of UCP of Central Florida, “is to create an environment where there are no limits, just life, for all children, regardless of their abilities.


"And as we move forward in establishing proven and promising practices for early intervention education, we invite the Central Florida community to join us on our journey of creating equal opportunities for all people.”

UCP has already raised a little over half the $9.2 million needed to fund this project. Interested parties and corporations wishing to help UCP in meeting its goals are invited to participate by contacting Terri Chastain at (407) 852-3304.

Taurus Investment Holdings, LLC, is widely known as a strategic real estate owner/operator specializing in value creation through a mix of development, redevelopment, lease-up and intensive professional management of each individual investment.

With 14 offices across the globe, Taurus successfully balances local entrepreneurship with global financial strength. It steadfastly holds to the philosophy of preservation of principal, providing superior risk-adjusted returns, and alignment of interests with investors.

Taurus Investment Holdings was founded in 1976 and has documented an impeccable track record of significant above-market returns. Since its inception, Taurus has purchased and sold over 20 million square feet of office, industrial, retail, residential and hotel assets.

Since establishing a presence in Central Florida in 1990, Taurus Southern has become a respected industry leader known for strategic new commercial development and value-added redevelopment projects as well as management, leasing and brokerage of capital assets. Led by McFadden, who has over 25 years of experience in commercial development and brokerage, Taurus Southern has become a premier owner/operator of commercial real estate within the southeastern United States.

“Taurus Southern’s successful track-record is the result of mutual trust and integrity,” said McFadden. “Enduring client relationships,” he added, “are the result of consistent performance in the marketplace and we are poised to expand our presence in key markets throughout Florida.”

Taurus Southern Investments, LLC, is headquartered at 1560 Orange Avenue, Suite 410, Winter Park, FL. For more information, visit http://www.tiholdings.com/.

Contact: Kenneth H. Cristol 407-774-2515

Microtel Inns & Suites Economy Lodging Brand Opens 300th Hotel


PARSIPPANY, N.J. – The Microtel Inns & Suites brand, an all-new construction economy lodging chain recently acquired by Wyndham Hotel Group, celebrated a milestone this week with the opening of its 300th hotel in Delphos, Ohio.

The 56-room hotel, (top right photo) owned by Group Properties LLC of Delphos, showcases the brand’s award-winning prototype design.

Each guest room features a flat-panel television, granite countertops and desk with easily accessible power outlets and data ports.

The Microtel Inn & Suites prototype was honored as Best Guestroom Design in the limited-service category at the HotelWorld Global Hospitality & Design Awards competition and received a Lodging Hospitality Chain Leadership Award for 2008.

“Microtel is the right brand for today’s traveling public,” said Roy Flora, brand president. “It sets the standard for travelers by providing them with the highest quality accommodations, service and value.”

The 56-room Microtel Inn & Suites in Delphos is located at 480 Moxie Lane, one block west of Route 30. The hotel is convenient to the Veterans Memorial Civic & Convention Center, Limaland Motor Sports Park and the area’s several colleges and universities.
CONTACT:

Rich Roberts , Vice President, Communications, Wyndham Hotel Group, 1 Sylvan Way, Parsippany, NJ 07054, PH (973) 753-6590, Richard.roberts@wyndhamworldwide.com

Marcus & Millichap Names 11 Vice Presidents of Investments

D'ALESSANDRO, KILPATRICK PROMOTED TO VICE PRESIDENTS/INVESTMENTS IN PALO ALTO, CA OFFICE

PALO ALTO, CA— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Jamie D’Alessandro (top right photo) and Scott Kilpatrick (top left photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Steven Seligman, regional manager in the firm’s Palo Alto office. D’Alessandro joined Marcus & Millichap in 2000 and specializes in multi-family investment sales. Kilpatrick joined the firm in 2000 and specializes in multi-family investment sales.

BENSON, FRIEDMAN, ZIEGLER NAMED VICE PRESIDENTS/ INVESTMENTS IN ENCINO, CA OFFICE

ENCINO, CA — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Jeff Benson, (photo at right) Matthew Friedman (photo at left) and Matthew Ziegler (left photo under Friedman) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Mitchell R. LaBar, managing director, regional manager in the firm’s Encino office. Benson joined Marcus & Millichap in 2002 and specializes in multi-family investment sales. Friedman joined the firm in 2003 and specializes in multi-family investment sales. Ziegler joined the firm in 2002 and specializes in multi-family investment sales.

HURST, NISBET, TIBERIO, WALKER NEW VICE PRESIDENTS/INVESTMENTS IN SEATTLE OFFICE

SEATTLE, WA — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Spencer Hurst (photo at right) , Peter Nisbet, (right photo, under Hurst), Armand Tiberio (left photo, under Ziegler) and Rich Walker (left photo, under Tiberio) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Gregory Wendelken, regional manager in the firm’s Seattle office.

Hurst joined Marcus & Millichap in 2003 and specializes in Sec. 42 multi-family investment sales. Nisbet started in 2002 and specializes in retail investment sales. Tiberio joined the company in 2002 and specializes in multi-family investment sales. Walker joined the firm in 2001 and specializes in multi-family investment sales.

ADAM J. TIKTIN MOVES UP TO VICE PRESIDENT/INVESTMENTS IN MIAMI OFFICE

MIAMI, FL — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Adam J. Tiktin (right photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Kirk Felici, regional manager in the firm’s Miami office. Tiktin joined Marcus & Millichap in 2002 and specializes in retail, office and industrial investment sales.

MICHAEL LABAR EARNS VICE PRESIDENT/INVESTMENTS POST IN LAS VEGAS OFFICE

LAS VEGAS, NV — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Michael LaBar (bottom left photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to John Vorsheck, regional manager in the firm’s Las Vegas office. LaBar joined Marcus & Millichap in 2002 and specializes in apartment investment sales.

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