WELBRO celebrating 30 years of "Service Excellence" in Central Florida

ORLANDO, FL-- What started back in 1979 as a small construction company, is today one of the largest privately-held commercial general contractors in Central Florida.

WELBRO takes pride in the fact that in those earlier years we brought a new philosophy to the construction industry -- one of partnership and doing away with adversarial relationships.

Ours is a proud history, with a firm foundation based on the values established by WELBRO founders Gary Brown and Butch VonWeller.

WELBRO has realized the vision of Gary and Butch, receiving many accolades for the company’s performance in the commercial construction industry.

Thirty years later, now under the leadership of Steve Davis, (top right photo) CEO, Bruce Holmes,(bottom left photo) President/COO and a team of company executives WELBRO is committed to carrying our proud tradition into the future with a continuing emphasis on the WELBRO values and with utmost care and concern for our clients and our associates.

According to Davis, "…throughout 2009 WELBRO Building Corporation will celebrate its accomplishments and continue its quality service based on the core values that have made the company successful."

Says Davis, "…these values have played an important role in the history of the company, with tangible proof of superior client service, that in an industry plagued with litigation, and with over one billion dollars of construction in place, WELBRO has never litigated with a client."

Another testament to WELBRO’s success is management’s commitment to its workforce. A company based on family values WELBRO attributes its success to the dedication and hard work of its 300 associates. WELBRO will thank their workforce and their clients in 2009 and look forward to another 30 years of success in the community.

CONTACT: Patricia A. Werner, 407/475-0800; mobile: 407/766-3951 pwerner@welbro.com

Marcus & Millichap Brokers Ranked High Nationally

FRIEDMAN AND HARRIS TOPS IN ENCINO OFFICE

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced its top investment specialists for 2008.

Two agents in Marcus & Millichap’s Encino office ranked in the Top 30 out of more than 1,300 investment specialists nationwide. The agents are Gregory Harris (3)(top left photo) and Matthew Friedman (16). (top right photo).

“We are proud to recognize Greg Harris and Matthew Friedman as top-ranking investment specialists,” says Harvey E. Green, A(bottom right photo) president and chief executive officer of Marcus & Millichap.

“Their accomplishments and track records reflect their superior transaction expertise and commitment to client service.”

Harris, an executive vice president of investments based in Encino, facilitated transactions valued at more than $275 million last year. Harris joined Marcus & Millichap in August 1994 and was promoted to executive vice president of investments in early 2008.

He also serves as a senior director of the firm’s National Multi Housing Group. His transactions last year included a $27 million multi-family community in Torrance, Calif., and several apartment communities in Tulsa, Okla., including one valued at $18.3 million and another valued at $15 million.

Friedman, a vice president of investments and a senior director of the firm’s National Multi Housing Group in Encino, has facilitated transactions valued at more than $859 million throughout his career.

Friedman joined the firm in 2002 and was promoted to vice president of investments in 2008. His transactions last year included $24.79 million and $15.48 million apartment communities in Toledo, Ohio, and a 12-property multi-family portfolio located in Northeast Ohio

MANSOUR AND VOLEN IN SAN DIEGO OFFICE RANKED AMONG COMPANY’S TOP 30 NATIONWIDE

Alvin Mansour is also the firm’s top multi-tenant investment associate.

Two agents in Marcus & Millichap’s San Diego office ranked in the Top 30 out of more than 1,300 investment specialists nationwide. The agents are Alvin Mansour (5) (top right photo) and Joshua Volen (22).(middle left photo)

“We are proud to recognize Alvin Mansour and Joshua Volen as top-ranking investment specialists,” says Harvey E. Green, president and chief executive officer of Marcus & Millichap.

Mansour, a first vice president investments and a senior director of the firm’s National Retail Group in San Diego, is also the firm’s top multi-tenant investment specialist. Last year, he arranged transactions valued at nearly $170 million.

Mansour joined Marcus & Millichap in September 2003 and was promoted to first vice president investments in October 2008. His notable transactions last year included a $23.8 million hospitality property in San Diego; a $19.3 million regional shopping center in Goldsboro, N.C.; and a $10 million neighborhood shopping center in Denton, Texas.

Volen, an associate vice president investments and a director of Marcus & Millichap’s National Office and Industrial Properties Group in San Diego, facilitated transactions valued at more than $118.36 million last year.

Volen joined the company in November 2004 and was promoted to associate vice president investments in July 2008. His notable transactions last year included a $22.3 million net-leased property in Timonium, Md.; a $15.85 single-tenant office building in Huntsville, Ala; and a $12.4 million industrial warehouse in San Diego.

JONES AND TRAMMELL NAMED TOP GUNS IN PALO ALTO OFFICE

Two agents in Marcus & Millichap’s Palo Alto office ranked in the Top 30 out of more than 1,300 investment specialists nationwide.

The agents are Stanford Jones (6 (middle left photo) and Kirk Trammell (14). (middle right photo)

Jones, an executive vice president investments and a senior director of the firm’s National Multi Housing Group in Palo Alto, facilitated transactions valued at greater than $594 million last year.

Jones joined Marcus & Millichap in March 1980 and was promoted to executive vice president investments in January 2008. His notable transactions last year included the sale of a $115 million multi-family community in San Francisco; a $91.25 million apartment community in San Jose, Calif.; and a $56 multi-family community in Reno, Nev.

Trammell, a senior vice president investments and a director of Marcus & Millichap’s National Retail Group in Palo Alto, facilitated transactions valued at $134.25 million last year.

Trammell joined Marcus & Millichap in June 1989 and was promoted to senior vice president investments in July 2008. His notable transactions last year included a $24.25 million shopping strip in Woodland, Calif.; a $20.37 single-tenant office in Reno, Nev.; and a $9.85 million shopping strip in Salinas, Calif.

DOUGLAS HIMAN JOINS MARCUS & MILLICHAP
AS ASSOCIATE VICE PRESIDENT INVESTMENTS

OAKLAND, CA – Marcus & Millichap, the nation’s largest real estate investment services firm, has hired Douglas Himan (bottom right photo) as an associate vice president investments in the Oakland office, according to Jerome C. Smith, regional manager of the office. Himan joins the firm from NAI BT Commercial.

As an associate vice president investments, Himan will focus on brokering the sale of multi-family properties on behalf of private and institutional investors.

“Doug is an experienced investment specialist with in-depth knowledge of the East Bay multi-family market,” explains Smith. “He will be a great asset to the Oakland office.”

Himan left Marcus & Millichap in October 2004 to pursue a career as a condo owner and operator, specializing in conversion opportunities in Concord and Oakland.

Himan has been in the commercial real estate industry since 1999. Before joining NAI BT Commercial, he was a multi-family investment specialist in Marcus & Millichap’s Palo Alto office.

In late 2008, Himan decided to return to the firm.

“Marcus & Millichap’s platform offers investors unparalleled access to a nationwide pool of buyers, investment capital and inventory,” Himan notes. “As a multi-family broker focusing on apartment sales in the East Bay, it is vital to have access to existing apartment inventory, and access to the largest investment brokerage community in the Bay Area and nationwide.”

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

Orlando’s oldest landscape architectural firm turns 40

ORLANDO, FL— The City of Orlando’s oldest landscape architectural firm, Foster Conant & Associates, is celebrating 40 years in business this month.

Since its founding in 1969 by the late Bert T. Foster (middle left photo), the Firm has provided site-specific landscape architectural design services for more than 5,000 projects.

Richard R. Conant, (top right photo) FASLA joined Foster in 1973 and has led the practice since 1987.

With the Firm’s primary focus on resort, hospitality and entertainment projects, Orlando has provided the practice with unprecedented challenges to meet the thematic and visual needs of tourist venues, notes Conant.

Similarly, Florida’s dynamic growth has provided Foster Conant with opportunities to design high quality urban, residential, educational, aviation, commercial and retail projects.

Completed projects include Orlando International Airport,(bottom right photo) Valencia Community College, MetroWest, Isleworth, (bottom right photo) U.S. 192 Streetscape, Orlando City Hall, Diocese of Orlando, Disney Village Marketplace, Lockheed Martin Information Systems, First Presbyterian Church Orlando, First Baptist Church Orlando, Royal Pacific Resort at Universal Orlando, Discovery Cove and Aquatica at Sea World Orlando.

Most recently, Foster Conant designed mixed-use projects in Brazil and entertainment venues in United Arab Emirates.

“Technology and the Internet have opened international markets to us,” said Conant. “The speed, accuracy and ability to study projects through computer-aided design programs have opened up new design avenues for us as well.”

According to Conant, other changes in the practice of landscape architecture in the past four decades include specialization within the profession as well as new and improved hardscape amenities used in design.

“Computers allow us to design complex and intricate shapes very quickly that would have taken many hours to create years ago,” said Conant.

Foster Conant & Associates was named Professional Firm of the Year by the Florida Chapter of the American Society of Landscape Architects in 2001, and has been recognized continuously for its designs in state and national award competitions throughout its storied history.

The 12-person firm is managed by Richard R. Conant, FASLA, president, Keith Oropeza, ASLA, director of design, René A. Ramos, RLA, director of production, and John P. Sullivan, III, ASLA, director of human resources.

Please visit http://www.fosterconant.com/ for additional information.

. Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

Two Palmer Electric Co. employees named to leadership positions in Academy of Construction Technologies

WINTER PARK, FL – Palmer Electric Company is pleased to announce its vice president of commercial production, Robert K. Vaughn, (top right photo) has been elected treasurer of Academy of Construction Technologies (ACT), and commercial project manager, Dan DeMorse, (top left photo) has been elected to the association’s board of directors as a member-at-large.

ACT, founded in 1992, is a partnership of the Central Florida construction industry contractors and trade associations representing both union and non-union entities. ACT works closely with Orange, Osceola, and Seminole county school districts to promote construction as a career and provides students with the opportunity to develop lifelong skills.

Palmer Electric Company is a provider of electrical contracting for commercial institutional and residential customers.

Additionally, the Company provides service and repairs to utilities, businesses and consumers. Founded in 1951, the Company is headquartered in Winter Park, Fla., and has residential division offices in Lakeland and Jacksonville, Fla. The Company employs a staff of 350.

For additional information, visit http://www.palmer-electric.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344, elainei@pr-works.com, www.pr-works.com

Fisher Property Group Names Peter Willis Senior Vice President of Hotel Acquisitions & Business Development

PALM BEACH, FL—Fisher Property Group, a privately held real estate holding company, announces that Peter Willis (top right photo) has joined the company as senior vice president to spearhead hotel acquisitions and business development.

In his new role, he will be responsible for sourcing, negotiating and structuring transactions for hotel assets and management contracts.

Immediately prior to joining Fisher Property Group, Willis was senior vice president at The Kor Group, where he played a lead role in sourcing, negotiating and underwriting hotel investments and management contract prospects in addition to supporting strategic acquisitions and corporate planning efforts.

“Peter brings extensive hotel investment expertise to our executive team,” said Jeffrey H. Fisher,(top left photo) Fisher Property Group’s CEO.

“He played an instrumental role as our vice president of acquisitions at Innkeepers USA Trust prior to its sale in July 2007.

"Fisher Property Group will leverage his 20 years of experience in the lodging industry, in acquisitions, repositioning and dispositions, as we seek ways to take advantage of the opportunities available in the current and anticipated economic climate.

“We believe the opportunity for hotel acquisitions will increase substantially over the next 18 months, and we intend to be a major investor,” Fisher added.

“Our immediate focus will center on securing a Programmatic Joint Venture partner for the investment platform to be well-positioned to execute our growth plan.

"Our acquisition strategy is to identify assets opportunistically where we can add substantial value through repositioning, rebranding and/or changing management.

"We have retained Flint Creek Partners, a well regarded investment banking, venture capital and financial advisory services firm to lead our efforts in securing the financing platform.”

Additional information about the company may be found at http://www.fisherpropertygroup.com/.

Contacts: Jerry Daly or Carol McCune, Daly Gray (703) 435-6293, jerry@dalygray.com or carol@dalygray.com

NAIOP Names CBRE's David Murphy Broker of the Year for Six Straight Years

' ORLANDO, FL--David Murphy, (top right photo) Senior Vice President with the Orlando office of CB Richard Ellis, has been named Industrial Broker of the Year 2008 by the Central Florida Chapter of the National Association of Office and Industrial Properties (NAIOP).

This award recognized the top producing industrial broker in the Central Florida region, and was presented at the Ports of Call special events complex at Sea World in front of an audience of over 300 commercial real estate practitioners.

This achievement is even more remarkable since it is Murphy's sixth straight NAIOP Industrial Broker of the Year Award and seventh NAIOP Award over the previous 10 years.

No other commercial broker in Central Florida history has come close to the six year run Murphy has had as the region's top industrial broker.

Flexibility in operating his business model allows Murphy to be successful during boom times such as 2005 through 2007, as well as the challenging market environment we are currently experiencing.

Murphy was the top producing CBRE industrial broker for the state of Florida and typically one of the top industrial performers for the company nationally.

Contact: Angelique Greven 407.839.3158 angelique.greven@cbre.com

Andy Peters Named General Manager of The Wynfrey Hotel in Birmingham, AL

BIRMINGHAM, AL—Officials of Davidson Hotel Company (DHC), one of the nation’s largest hotel management companies, announces that Andy Peters has been named general manager of the 329-room Wynfrey Hotel (top right photo) in Birmingham, Ala.

In his new role, he is responsible for the day-to-day operations of the hotel.

“Now more than ever, hotels require leaders with the skills and experience to motivate staff and provide guests with top quality services,” said Patrick Lupsha, (bottom left photo) Davidson’s chief operating officer.

“Andy is a 34-year veteran in the hospitality industry and has been a Davidson regional vice president for the past six years. He has first-hand experience in navigating through difficult economic conditions and is the right person to guide The Wynfrey Hotel during the challenging times we are experiencing.”


Earlier in his career, Peters held a variety of F&B positions, including director of food standards at Marriott Headquarters.


Since joining Davidson in 1995, he has served as director of
food and beverage, regional vice president of operations and general manager of the Hilton Eugene & Conference Center in Oregon.



Peters has a degree in Food Service Administration from the State University of New York College at Buffalo.

Contacts:


Cyndi Norwood (media), Davidson Hotel Company, (901) 821-4155, cnorwood@davidsonhotels.com


Jerry Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

Hunter Realty Associates, Inc., Brokers Comfort Inn for Supertel

ATLANTA/Washington, D.C./GETTYSBURG, PA—Hunter Realty Associates, Inc., a leading national hotel investment services firm, represented Supertel Hospitality, Inc. (NASDAQ: SPPR) in the $4.7 million sale of the 80-room Comfort Inn (top right photo) in Gettysburg, Pa., to Zrii LLC.

The hotel is scheduled to complete a refurbishment that will refresh the property to the latest brand standards.

“Supertel achieved a good return on its investment, and Zrii LLC, a quality owner/operator, expects to achieve economies of scale to provide upside potential for their investment. This created a win-win situation for both the buyer and seller,” said Kyle Stevenson, (top left photo) managing director of Hunter Realty.

“Gettysburg is an above-average market with multiple demand generators. We marketed the property discreetly, which avoided any property-level disruptions.

Located at 871 York Road, in Gettysburg, Pa., the Comfort Inn is one mile from the historic downtown area and minutes from the Gettysburg National Military Park and Gettysburg College.

In addition, the hotel is near Gettysburg Battle Theater, the Eisenhower National Historic Site, and Boyds Bear Country, known as the “World’s Most Humongous Teddy Bear Store.”

The hotel features an indoor pool, free continental breakfast, a business center and is pet-friendly.

“While financing is difficult in today’s economy, we worked closely with Zrii LLC to help facilitate the financing, which was accomplished through a SBA 504 loan,” Stevenson noted.

“Transactions under $10 million involving experienced owners are still attractive to lenders.

We closed the transaction in about 75 days from contract signing. This will definitely be the year of the smaller transaction, as the rest of the market sorts itself out.”

Contact: Melanie Boyer, media, (703) 435-6293, melanie@dalygray.com

Top Brokers at NAI Realvest Feted at Annual NAIOP Awards Banquet

MAITLAND, FL - Three of the top commercial property brokers at NAIRealvest in Maitland were recognized at the annual "Best of the Best" GalaAwards Banquet, sponsored by the NAIOP Central Florida Chapter recently at Sea World's Ports of Call.

Michael Heidrich, (top right photo) a principal of the firm who has been with NAI Realvest as a commercial property broker for 20 years, placed among the top three inthe 2008 Industrial Broker of the Year competition.

The NAI Realvest team of Kevin O'Connor (top left photo) and Matt Cichocki, (midle right photo) who have been with NAI Realvest for seven years and five years respectively, were among the top three winners in the Land Broker of the Year competition.

NAI Realvest client MAS Companies won NAIOP's Development of the Year award for its Cypress Park development at 1611 Cypress Lake Drive in Orlando.

Heidrich serves as leasing agent for the industrial center and NAI Realvest chairman George Livingston (middle left photo) and principal Christie Alexander (bottom right photo) brokered theoriginal land sale to develop the project.NAI Realvest was a Gold sponsor of the event.

For more information, please contact:

George Livingston, Chairman, NAI Realvest, 407 875 9989, glivingston@realvest.com;

Janice Paiano, Director of Marketing, NAI Realvest, 407 975 9989mailto:jpaiano@realvest.com;

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

NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. NAIOP comprises 18,000 members in North America.

NAIOP advances responsible commercial real estate development and advocates for effective public policy.

For more information, visit http://www.naiop.org/.

NAI Realvest in Orlando, covering all of Central Florida, is a fullyintegrated commercial real estate operating company specializing inbrokerage, development, investment, leasing and management, consulting andresearch services in the U.S. and worldwide.

Tampa Office Vacancy Almost 6M SF

TAMPA, FL--Randy Smith (top right photo), regional director of research, GVA Advantis, reports on the fourth-quarter Tampa office market:

The forces of the declining economy in 2008 continued to erode Tampa’s office market fundamentals in the fourth quarter.

The broad-based downsizing of corporate payrolls and the completion of several significant new office projects pushed Tampa’s total office vacancy to almost 6 million square feet by year-end.

The market’s direct vacancy rate increased 210 basis points during the final period of 2008, ending at 16.5 percent – a level last reached four years ago. Still, face rents for Tampa office space have remained resilient against the downturn so far, averaging $22.63 per square foot at the close of 2008.

It appears that 2009 will be a challenging year, at best, for the Tampa market and most areas of the country.

Economic activity fell off sharply in the fourth quarter of 2008 and very little improvement is expected until at least the latter part of 2009.

Demand for local office space is expected to remain subdued during the year and rising unemployment will contribute to additional vacancies in the market.

Rents will remain under pressure in 2009 as the Tampa office market struggles to regain its legs. Landlords will continue to focus on tenant retention in order to secure cash flows for their properties.

The incentives offered to tenants will ramp up as landlords work to extend and renew existing leases.

For a complete copy of the report, please contact:

Randy Smith, MBA, Regional Director of Research, Advantis Real Estate Services Company,
3000 Bayport Drive, Suite 100, Tampa, FL 33607. Tel 813.342.4725. Fax 813.372.4004. E-mail rsmith@gvaadvantis.com
http://www.gvaadvantis.com/

Great Wolf Resorts Reports Fourth Quarter 2008 Results Exceed Consensus Estimates

Company Beats Top End of Guidance for Adjusted EBITDA

MADISON, WI/PRNewswire-FirstCall/ -- Great Wolf Resorts, Inc. (Nasdaq: WOLF), North America's leading family of indoor waterpark resorts, reports results for the fourth quarter and year ended December 31, 2008.

Highlights

-- Achieved 2008 fourth quarter Adjusted EBITDA of $11.1 million, which was significantly above consensus analysts' estimates of $8.6 million and above the company's previously issued fourth quarter guidance range of $6.6- $10.6 million.

Adjusted EBITDA for the full year 2008 was $67.6 million, also above consensus estimates and guidance.

-- Reported a 7.9 percent decline in 2008 fourth quarter Great Wolf Lodge(R) brand same store revenue per available room (RevPAR), compared to a hotel industry average decline of 9.8 percent, according to Smith Travel Research data.

The company's same store RevPAR for the full year was up 0.8 percent, compared to an industry decline of 1.9 percent.

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

Lodgian Reports 2008 Fourth Quarter and Full-Year 2008 Results

ATLANTA, GA /PRNewswire-FirstCall/ -- Lodgian, Inc. (Amex: LGN), one of the nation's largest independent owners and operators of full-service hotels, reports results for the fourth quarter and full year ended December 31, 2008.

The "35 continuing operations hotels" comprise those Lodgian properties that are not held for sale as of December 31, 2008. Lists of properties, both continuing operations and held for sale, are attached to this press release.

Fourth Quarter 2008 Highlights for 35 Continuing Operations Hotels

-- Reduced corporate overhead by $1.2 million in the 2008 fourth quarter compared to the 2007 fourth quarter.

-- Increased revenue per available room (RevPAR) index by 3.9 percent in the 2008 fourth quarter over the 2007 fourth quarter, to 101.7 percent.

-- Experienced a 4.9 percent decrease in RevPAR in the 2008 fourth quarter over the 2007 fourth quarter, compared to a 9.8 percent decrease in the same period for the U.S. industry as a whole, according to Smith Travel Research.

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

Despite gloom, 2009 holds good commercial real estate opportunities

NEW BEDFORD, MA--Day after day, world, national and local news headlines are showing more doom and gloom in the real estate industry, notes Richard E. "Rick" Barnes, (top right photo) vice president, Whelan Associates LLC, New Bedford, MA.

Foreclosures are up, retail stores are closing and lay-offs continue, thereby reducing demand for commercial space.

Even the "luck of the Irish" has faded as Ireland's infamous real estate boom has fallen hard in this global financial crisis.

As the world economy continues to slump, commercial real estate assets are likely to see rents fall and vacancies raise throughout 2009 and into 2010, according to a new report issued by NAI Global Real Estate Company.

(One Financial Plaza, Hartford, CT, top left photo)

This has an obvious impact on real estate values. But as a business, real estate still holds opportunities both nationally and locally.

Despite the perception of doom and gloom, deals are happening.

What is not seen very often in the headlines is that real estate transactions are still getting done.

Yes, business activity continues, albeit not as robust as in previous years. Properties that offer solid real estate fundamentals are still attracting significant interest from real estate investors.

Nationally, major transactions occur every day, in every property sector, in every market across the country.

(300 South Wacker Drive, Chicago, middle right photo)

The industrial market is reeling from the impact of massive lay-offs across the country. However, 2008 proved to be a banner year for activity in the southeastern Massachusetts industrial parks.

The retail sector has been hammered nationally by slowing consumer spending resulting in many store chains declaring bankruptcy and some even closing entirely.

However, on the local level, stores and restaurants continue to open along the Southcoast. For example, in recent months, downtown New Bedford has seen new boutique stores and restaurants open for business.

(Galleria shopping center, Atlanta, middle left photo)

The office market across the country has continued to see declines in occupancy levels, thus putting pressure on the values and ultimate sale prices. Office buildings in major markets such as New York and Washington have seen values plunge 20 to 30 percent.

Conversely, a major Southcoast multi-tenant office building has gone from a 62 percent occupancy 18 months ago, to a 96 percent occupancy today. Another prominent Southcoast office building has recently sold at a record $200 per square foot.

All across the country, there is a countless number of properties available for sale, from Class A, 100 percent leased single and multi-tenant properties, to aged and vacant buildings providing a huge potential for an opportunistic developer.

While the headlines would lead you to believe investors are on the sidelines until the market rebounds, savvy investors are still at work closing deals.

This holds true in the Massachusetts Southcoast market as well. In the fourth quarter of 2008, more than $50 million of commercial real estate traded hands in Bristol County.

(John's Creek Shopping Center, Jacksonville, FL, bottom right photo)

A like amount traded in Plymouth County during the same period. This all occurred during an unprecedented election period overshadowed by a major financial meltdown.

As the crisis continues into 2009, leaders in the field recognize that the current real estate cycle provides a unique opportunity to expand their portfolios and create wealth. Despite the predictions of doom and gloom, many believe that the transactions during the next three to five years will prove to be the best buying opportunities that have come along in decades.

CONTACT:

Richard E. "Rick" Barnes, vice president of capital markets, Whelan Associates, LLC, Union Square Office Centre, 174 Union St., New Bedford, Mass. 02740; 508-984-4100; or e-mail at rebarnes@whelanassociates.com

Arbor Closes 5 Fannie Mae DUS® Loans Totaling $14M

Carousel Apartments in Dallas, TX Gets $7,492,700 Fannie Mae DUS® Loan

UNIONDALE, NY,Feb. 25, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $7,492,700 loan under the Fannie Mae DUS® product line to refinance four the 276-unit property known as Carousel Apartments in Dallas, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.70 percent.

The loan was originated by Bob Anderson, Director, in Arbor’s full-service Atlanta, GA lending office. “Arbor was able to provide a cash out refinance for an experienced borrower in the Dallas market, said Anderson. “Our underwriting team did a fantastic job in bringing this request to funding in 30 to meet the borrower’s time commitments.”

Texas, Louisiana, Oklahoma Properties Receive $6.6M Total Loans

UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of four (4) loans totaling $6,623,800 under the Fannie Mae DUS® product line. These loans include:

Amber Square, San Antonio, TX – 64-unit complex in the amount of $1,600,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent.

Pebble Beach Apartments, Universal City, TX – 61-unit complex in the amount of $1,339,800 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent.

South Park Apartments, Baton Rouge, LA – Refinance of a 56-unit complex in the amount of $1,500,000 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.33 percent.

Treetops Apartments, Broken Arrow, OK – Refinance of a 120-unit complex in the amount of $2,184,000 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.83 percent.

The loans were originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Dallas, TX lending.

“Arbor utilized the Fannie DUS® line for four differing structures on the subject loans, illustrating the versatility of the product line,” said Porterfield. “Arbor’s team worked diligently on all of these deals to provide financing that helped each Borrower meet his or her specific goals.”

Contact: Ingrid Principe, 516 506 4298. FX 516 542 2555. iprincipe@arbor.com

Bulls Capital Partners Arranges $2.3M Refinance of 116-Unit Apartment Property in Washington, D.C.

VIENNA, VA, Feb. 25, 2009 -- Bulls Capital Partners LLC, a multi-family financial services provider and Fannie Mae Delegated Underwriting & Servicing (DUS®) lender, today announced it has provided financing to Connecticut Park, LLC in the amount of $2.3 million for the refinance of Connecticut Park Apartments (top right photo) in Washington, D.C.

Connecticut Park Apartments is a 116-unit mid-rise apartment complex built in 1955 with a mixture of one- and two-bedroom units.

Property amenities include a rooftop deck, 24-hour concierge/security service, underground parking and laundry facilities.

The property is located in the Woodley Park neighborhood of Washington, D.C. and is close to the National Zoo, the Adams-Morgan and Dupont Circle neighborhoods, and is minutes from the National Mall.

The loan was originated by Diane Taylor of SunTrust Bank and Alicia Cotton, (bottom right photo) Assistant Vice President at Bulls Capital Partners, LLC.

"We are pleased to provide low leverage financing for this well located and maintained asset," said Herman Bulls, (middle right photo) President and CEO of Bulls Capital Partners.

"This transaction is testament to Bulls Capital Partners' and Fannie Mae's commitment to providing capital for well positioned assets during this critical time in the capital markets."

"The owners' ability to monetize a portion of their equity in a short timeframe allowed them to close on another property acquisition the following day," said Mark B. Van Kirk, (bottom left photo) COO of Bulls Capital Partners.

"In order to meet that need, the entire team focused on speed of execution and efficiency from completion of the application to the funding."

DUS is a registered trademark of Fannie Mae.

About Bulls Capital Partners, LLC

Bulls Capital Partners, LLC is a Fannie Mae-approved Delegated Underwriting and Servicing (DUS®) lender that offers a full array of financing solutions to owners of multifamily property.

Bulls Capital Partners' key capabilities under the DUS program include small loan solutions, affordable housing solutions, student housing, seniors housing, market-rate multifamily mortgages, and credit facilities, among other offerings.

Bulls Capital Partners is a joint venture of Goldman Sachs Commercial Mortgage Capital, L.P. and Bulls Multifamily, LLC, a minority-controlled firm headed by President and CEO Herman Bulls.

Bulls previously ran a successful DUS lending operation, and has extensive commercial real estate experience with one of the world's leading real estate service providers.

Co-founding Bulls Capital Partners with Bulls is Mark Van Kirk, Chief Operating Officer. Van Kirk previously served as Director of Counterparty Risk at Fannie Mae.

Website: http://www.bullscapitalpartners.com/

Herman Bulls, President & CEO, Bulls Capital Partners, LLC,
Herman.Bulls@BullsCapitalPartners.com
phone: (202)256-1814

Mark B. Van Kirk, Co-Founder & COO,
Mark.VanKirk@Bullscapitalpartners.com
phone: (703)848-8001