HFF secures $12.84M construction loan for development of Class A speculative office building in Pearland, TX

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $12.84 million construction loan for the development of ZT Shadow Creek Business Center (top right photo) , a speculative Class A office building in Pearland, Texas.

Working exclusively on behalf of ZT Group Business Center One (Pearland), L.P., HFF’s Charlie Gasper (top left photo) and Colby Mueck placed the 24-month, 80% leveraged loan through Lance Schielack at Sterling Bank.

ZT Shadow Creek Business Center will be situated on 3.5 acres within the growing master-planned community of Shadow Creek Ranch in Pearland, one block west of State Highway 288 and close to Houston’s central business district, Texas Medical Center, the Port of Houston and Houston Hobby Airport.

Due for completion in the fall of 2009, the 80,000-square-foot property will be the submarket’s first institutional-grade, Class A office building. This project represents the first stage of a multi-phased office development in the Shadow Creek Ranch area.

The developers of the project are T.A.B. Lone Star Holdings, Inc. and Wallace Bajjali Development Partners, L.P.

T.A.B. Lone Star Holdings, Inc., is affiliated with Houston -based ZT Group of Companies, and is led by Taseer Badar, (middle right photo) which is comprised of ZT Investments, ZT Financial Network, ZT Consulting and ZT Properties USA. ZT Shadow Creek Business Center will be the firm’s first office development in the Houston area.

Wallace Bajjali Development Partners, L.P. is a real estate development firm specializing in single-family lot subdivisions, commercial land development, mixed-use town centers, vertical retail and office development.

CONTACTS:

Charlie R. Gasper, HFF Associate Director, 713 852 3500, cgasper@hfflp.com

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

Thomas D. Wood Brokers Nearly $5M in Two New Loans

MIAMI, FL— Thomas D. Wood, Jr., (bottom left photo) President of Thomas D. Wood and Company, secured financing in the amount of $1,650,000 for the ALPHA Office Building (top right photo) in College Park, Georgia.

The loan was financed through Skymar Capital, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed-rate of 6.25%.

The loan term is seven years, based on a 25-year amortization, and a loan-to-value of 47%.

The 27,416 square-foot office building was built in 1990, and is home to major tenants AFL-CIO, Logis Tech, and PSA Healthcare. ALPHA Office Building is located at 2314 Sullivan Road, College Park, Georgia.

For further information, please contact:
Thomas D. Wood, Jr., (305) 447-7820, tomjr@tdwood.com

Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Gainesville, FL Mini-Storage Receives $2.8M Loan

LAKEWOOD RANCH, FL—September 10, 2008— Brad Cox, (bottom right photo) Vice President for Thomas D. Wood and Company, secured financing in the amount of $2,800,000 for Gainesville Mini-Storage (bottom left photo) in Gainesville, Florida.

The loan was financed through StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed-rate of 6.7%.

The loan term is five years with three five-year options, based on a 25-year amortization, and a loan-to-value of 70%. The 54,708 square-foot self-storage facility was built in 1989 and is located at 4430 SW 34th Street, Gainesville, Florida.

For further information, please contact:
Brad Cox (941) 907-8112 bcox@tdwood.com
Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com

Meridian Capital Group Closes Nearly $18M in New Loans

MERIDIAN CAPITAL GROUP ARRANGES $10M IN FINANCING FOR CONYERS, GA MULTIFAMILY BUILDINGS

CONYERS, GA - Meridian Capital Group has arranged $10,000,000 in financing for a property located at 1501 Renaissance Drive. (top right photo)

The property consists of 9 two and three story buildings and a total of 192 residential units. Max Beyderman and David Cohen of Meridian’s New Jersey office negotiated on behalf of the borrower to secure a 5-year term mortgage at a rate of 6%.

MERIDIAN CAPITAL GROUP ARRANGES $7.68M IN FINANCING
FOR ST. PETERSBURG, FL MULTIFAMILY PROPERTY

St. Petersburg, FL - Meridian Capital Group has arranged $7,680,000 in financing for a property located at 3700 9th Avenue North. (bottom left photo)

The property consists of 2 three-story buildings and a total of 142 residential units.

Jim Bologno and David Cohen of Meridian’s New Jersey office negotiated on behalf of the borrower, Newport Property Ventures, to secure a 7-year term mortgage at a rate of 5.75%.

CONTACT: Dani Sabesan: dsabesan@meridiancapital.com, (212) 612-0109

Gaithersburg, MD Warehouse on Sale Block

GAITHERSBURG, MD--Rory S. Coakley, (bottom left photo) president, Coakley Realty Inc., says the owners of a warehouse structure at 9107 Gaither Rd (top right photo) have begun the process of converting this 31,700 square foot building to condominiums.

This will allow for flex spaces as small as 2,000 square feet.
The specs include 31,700 total SF; I-1 Zoning; 5 Drive-In Bays; Great Visibility on Gaither Road;
Excellent location w/ easy access to I-270, 370, Rt. 355, Shady Grove Rd.; 43 Parking Spaces Available

CONTACT:

Rory S. Coakley 301-340-8700 ext. 101 Rory@coakleyrealty.com

Coakley Realty, 20 Courthouse Square, Suite 106, Rockville, MD 20850. ph 301-340-8700 ext.101

HFF named to market for sale 313 and 330 Congress Street in Boston

(Above, Four Point Channel neighborhood, Boston)

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) has been named by the seller to market 313 and 330 Congress Street, (middle right map) two office buildings totaling 106,028 square feet in Boston’s Fort Point Channel neighborhood.

The HFF investment sales team will be led by director Coleman Benedict (top right photo) and senior managing director Todd Stressenger (top left photo) who are exclusively representing the Brickman.

The properties are listed for sale without a formal asking price and include attractive, in-place financing.

313 and 330 Congress Street are six-story, brick and beam office buildings with 70,217 square feet and 35,811 square feet respectively. They were originally built in the 1890s and have been renovated, modernized and professionally maintained.

The buildings are currently 98.1% leased to tenants including National Mentor Holdings, Neoscape and Commercial Construction.

Located across the street from each another, the properties are situated between the emerging South Boston Waterfront District and the Boston’s Financial District with easy access to Interstate 93, Interstate 90 (Massachusetts Turnpike) and Logan Airport.

“313 and 330 Congress are located in the heart of downtown Boston and together feature a well diversified rent roll that provides a level of stability, downside protection and upside potential not found in most assets today,” said Benedict.

“Given the discount to replacement cost and the strong, in-place cash flow, the offering will be well received by a wide range of investors.”

Brickman, headquartered in New York, is a real estate owner-operator and investment company. Brickman purchased the Congress Street properties through its Brickman Real Estate Fund II, which invests in core real estate assets throughout the U.S.

CONTACTS:

Coleman J. Benedict, HFF Director, 617 338 0990, cbenedict@hfflp.com

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

HFF secures $21M bridge loan for Shore Mall in Egg Harbor Township, NJ

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $21 million bridge loan for Shore Mall, (top right photo) a 626,133-square-foot regional mall in Egg Harbor Township, New Jersey.

Working on behalf of Cedar Shopping Centers, Inc., HFF director John Taylor and senior managing director Jim Cadranell (top left photo) placed the 36-month, adjustable-rate loan with Oritani Savings Bank, represented by David Garcia.

Cedar Shopping Centers, Inc. (NYSE: CDR) is a self-managed real estate investment trust focused on supermarket-anchored shopping centers and drug store-anchored convenience centers located predominantly in the Northeast.

“A 36-month bridge loan provides the borrower with enough time to devise a plan for the repositioning of the subject shopping center and provide a construction loan exit to implement the plan,” said Taylor.

“Identifying a lender with a strong grasp of the real estate fundamentals was critical to the transaction in today’s market,” added Cadranell.

The Shore Mall includes a 73.27-acre site and an additional adjacent 50-acre parcel at the intersection of The Garden State Parkway and Blackhorse Pike in Egg Harbor Township, eight miles west of Atlantic City.

The property is an enclosed regional shopping center anchored by Boscov’s Department Store and Burlington Coat Factory.

CONTACTS:

John N. Taylor, HFF Director, 973 549 2000, jtaylor@hfflp.com

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

Post Properties and Novare Group Announce First Ritz-Carlton Residences in Atlanta, at 3630 Peachtree Road

Landmark Residential Address To Offer Gracious Living and Anticipatory Service

ATLANTA, GA – Those seeking a new home in Atlanta will soon have an opportunity to own a piece of the refined Ritz-Carlton lifestyle. Developers Post Properties Inc. and Novare Group Holdings LLC announced plans to bring the legendary five-star service of The Ritz-Carlton to Atlanta homebuyers for the first time at 3630 Peachtree Road.

Sure to become one of Atlanta’s premier addresses, The Ritz-Carlton Residences, (top right rendering) Atlanta, Buckhead will be located amidst world-class shopping, renowned cultural institutions, fine dining and Atlanta’s most prestigious residential neighborhoods.

With 17 floors of one-, two- and three-bedroom homes, The Residences will offer spacious, open floorplans, custom-selected finishes, dramatic views and The Ritz-Carlton’s famed anticipatory service. Pricing for the 129 Residences, including seven penthouse homes on the top two floors of the tower, begins in the $600,000s to over $2 million.

“The Ritz-Carlton is known worldwide for the unique experiences it creates and delivers to its residents,” said David P. Stockert, (middle left photo) president and CEO of Post Properties. “As a company with a proud history of innovation and a commitment to resident service, we couldn’t be more pleased about this relationship.”

Signature Ritz-Carlton services will also be available upon request, including housekeeping, in-home dining, the attention of a masterful concierge and porter staff, and a private chef to prepare meals. Planned street-level retail and restaurant amenities also include a world-class, white tablecloth restaurant.

“We began work on bringing The Ritz-Carlton Residences to 3630 Peachtree before we started construction a year ago, and as you can imagine, it took a great deal of time and effort, all well worth it, to meet the exacting standards required.

"Atlanta and The Ritz-Carlton have a long history together, and we consider ourselves fortunate to be able to add to that heritage by offering homebuyers this extraordinary opportunity to buy a Ritz-Carlton Residence in Atlanta,” said Jim Borders, (middle right photo) CEO of Novare Group.

Media Contacts:
Pat Hill or Ansley Fetz, Jackson Spalding
PHill@jacksonspalding.com, (404) 724-2506
AFetz@jacksonspalding.com, (404) 214-0879

Sales Inquiries:
Karen Rodriguez, Novare Realty
Karen@TheResidencesAtlanta.com, (404) 961-3630

Marcus & Millichap Sells $23M Apartment Community in Reno, NV

RENO, N., Sept. 10, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Bristle Pointe, (top right photo) a 224-unit multi-family community in Reno.

The sales price of $23 million represents $102,679 per unit.

Ryan DeMar, an associate vice president investments and director of Marcus & Millichap’s National Multi Housing Group (NMHG) in Sacramento; Kenneth Blomsterberg, a vice president investments and director of the firm’s NMHG in Sacramento; and Dylan Mattole, an investment specialist in the firm’s Reno office, represented the seller, a private partnership based in Northern California. Marcus & Millichap also represented the buyer, a private Reno-based owner/operator.

“Bristle Pointe represented an excellent opportunity for the investor to acquire a quality Class B multi-family asset in the high-growth suburban community of Reno, with the opportunity to increase rents through interior and exterior renovations” says DeMar.

Located at 2050 Longley Lane, the 213,256-square foot apartment community is situated on 11.2 acres near major employment centers, shopping, recreational areas, schools, parks and the downtown corridor.

Bristle Pointe features a mix of one-, two- and three-bedroom units. Amenities include a relaxing swimming pool, spa, fitness center, nine-foot and cathedral ceilings, fireplaces and bay windows.

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

MBA: Commercial/Multifamily Mortgage Delinquency Rates Up Slightly; Still Performing Well

WASHINGTON, DC, (September 10, 2008) - Delinquency rates ticked up slightly in the second quarter for most commercial/multifamily mortgage investor groups, but remained at the lower end of their historical ranges, according to a new report from the Mortgage Bankers Association (MBA).

"Commercial/multifamily mortgages are not seeing the same kinds of deterioration in performance that single-family mortgages, construction and some other types of loans have seen," said Jamie Woodwell, (top right photo) MBA's Vice President of Commercial/Multifamily Research.

"While delinquency rates for most commercial/multifamily investor groups are slightly higher over the last two quarters, it is important to remember that we are coming off record lows for the past year. The take away is that commercial/multifamily mortgage performance generally remains strong and well within expectations."

Between the first and second quarters, the 30+ day delinquency rate on loans held in commercial mortgage-backed securities (CMBS) rose 0.05 percentage points to 0.53 percent.

The 60+ day delinquency rate on loans held in life company portfolios rose 0.02 percentage points to 0.03 percent. The 60+ day delinquency rate on multifamily loans held or insured by Fannie Mae rose 0.02 percentage points to 0.11 percent.

The 60+ day delinquency rate on multifamily loans held or insured by Freddie Mac fell 0.01 percentage points to 0.03 percent. The 90+day delinquency rate on loans held by FDIC-insured banks and thrifts rose 0.17 percentage points to 1.18 percent.

The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae and Freddie Mac.

Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.

The analysis incorporates the same measures used by each individual investor group to track the performance of their loans.

Because each investor group tracks delinquencies in its own way, delinquency rates are not comparable from one group to another.

Based on the unpaid principal balance of loans (UPB), delinquency rates for each group at the end of the second quarter were as follows:

· CMBS: 0.53 percent (30+ days delinquent or in REO)
· Life company portfolios: 0.03 percent (60+days delinquent)
· Fannie Mae: 0.11 percent (60 or more days delinquent)
· Freddie Mac: 0.03 percent (60 or more days delinquent)
· Banks and thrifts: 1.18 percent (90 or more days delinquent or in non-accrual)

To put these numbers in context, of 35,276 commercial/multifamily loans in life company portfolios, with a total unpaid principal balance of $252 billion, only 23 loans with an aggregate UPB of less than $69 million were 60+ days delinquent at the end of the quarter. Of $1.2 trillion of commercial/multifamily mortgages at FDIC-insured banks and thrifts, only $15 billion was 90+ days delinquent.

A copy of the most recent report can be found at: Click Here

To view MBA's other research reports, please visit www.mortgagebankers.org/research

CONTACT: Jason Vasquez, (202) 557-2950 jvasquez@mortgagebankers.org

Selig Enterprises Announces 23,000-SF Industrial Lease with Waste Pro USA

(Steve Selig, president, Selig Enterprises, top left; Kent Walker, Vice President, top right)

ATLANTA, GA--Selig Enterprises' industrial division has leased approximately 23,000 square feet of Atlanta-area industrial space situated on six acres to Waste Pro, USA. The location is in northeast Atlanta near Interstate I-285.

Waste Pro USA, Inc. is a privately owned regional solid waste collection and disposal company headquartered in Longwood, Florida with twenty-one locations in Florida, Georgia, and South Carolina.

The company will occupy the building located at 3512 Oakcliff Road and use it for day to day operations. They expect to have about 90 employees, including office staff and truck drivers at the site.

To accommodate their growth and maintain coverage of all sides of the Atlanta market, Waste Pro sought to move their northeast Atlanta operations to the Oakcliff facility from South Old Peachtree Road.

Additional Atlanta locations include Acworth, Austell, Canton, and Downtown Atlanta. Dave Savignano, Atlanta Division Manager for Waste Pro, noted that "expansion capacity, size of the property, and proximity to major interstates" were key factors for the site selection.

Kent Walker, (top right photo) Vice President of Selig Enterprises, said, "Waste Pro is a leader in its industry and we are fortunate to establish a relationship."

Bryant Commercial Real Estate's 2007 Top Producer Kurt Unger represented Waste Pro, USA in the transaction.

Selig Enterprises is a privately held real estate operating company based in Atlanta, Georgia. The company owns and manages a real estate portfolio in excess of 10 million square feet throughout the Southeast United States.

For more information, please visit http://www.seligenterprises.com/.

Media Contact: Taana Kow, tkow@seligenterprises.com, Selig Enterprises, Inc., 404.870.1506