Grubb & Ellis Participates in 3 Leasing Deals in Virginia, Illinois and Michigan

Federal Agency Expands Lease to Occupy 258,248 SF in Falls Church, VA Building

WASHINGTON, D.C. (Aug. 27, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that it represented Carr Properties in a lease expansion with the U.S. Government (General Services Administration) totaling more than 113,000 square feet of office space at the Suffolk Building in Falls Church, Va.

The U.S. Government now occupies the entire building, which totals 258,248 square feet.

Kurt Stout, senior vice president, Charles Dilks, vice president, and Keith Lavey, vice president, all of Grubb & Ellis’ Government Services Group, facilitated the transaction.

The seven-story office building, located at 5611 Columbia Pike in Falls Church, Va., was fully renovated in 2001-2002, with additional security upgrades made in 2005 and 2008.

Financial Management Systems Signs 2 Leases Totaling 51,800 SF in Metro Chicago

Grubb & Ellis represented Financial Management Systems in two leases totaling 51,800 square feet of office space, expanding the company’s presence in the Chicago-area market.

The first lease, which totals approximately 24,000 square feet at 1000 E. Woodfield Road in Schaumburg, Ill., is a renewal and expansion of the company’s headquarters location.

The second lease, comprising 27,000 square feet at 4021 Morsay Drive in Rockford, Ill., represents a new location for FMS and was secured to support the company’s escalating role as a federal contractor. FMS seeks to fill approximately 50 positions at the location immediately and will create as many as 300 additional employment opportunities by 2011.

Grubb & Ellis’ Craig Cassell, vice president, Office Group, facilitated the transactions on behalf of FMS.

General Motors Leases 166,144 SF in Southfield, MI

Grubb & Ellis represented Ashley Capital in the lease of 166,144 square feet at Brownstown Business Center to General Motors Corp.

Dan Labes, senior vice president, Global Logistics, and Jim McClowry, senior vice president, Industrial Group, facilitated the transaction.

According to General Motors, the company plans to open a $43 million lithium-ion battery assembly plant for the Chevy Volt extended-range electric vehicle in the industrial park, creating more than 600 employment opportunities.

Contact: Erin Mays, Phone: 312.698.6735. Email: erin.mays@grubb-ellis.com

Walgreens in Garden City, GA Gets $4.2M Loan

SARASOTA, FL, Aug. 27, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on August 21, 2009, in the amount of $4,292,000 for a Walgreens Pharmacy in Garden City, Georgia.

Brad Cox, (top right photo) Company Vice President, financed the Walgreens acquisition through Thomas D. Wood and Company’s relationship with a financial services company.

The fully-amortizing loan has a term of 24 years and an interest rate of 7.15%. The loan-to-value is 91%. The 14,490 square-foot single-tenant pharmacy was built in 2008, and is located at the intersection of Georgia Highway and Minus Street in Garden City, Georgia.

For further information, please contact:
Brad Cox, (941) 552-9731, bcox@tdwood.com

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

HHOA Revises Annual Convention Concept to Regional Events in Response to Economy

First Meeting to Be Held September 21 in Phoenix, Prior to Lodging Conference

PHOENIX, AZ, Aug. 27, 2009—Officials of the Hispanic Hotel Owners Association (HHOA), a rapidly growing non-profit organization that seeks to increase Latino ownership of hotels, today announced they it has re-concepted its annual convention into a series of regional events that will be more cost-effective and reach more interested Latino investors during the current recession.

The first regional meeting will be held in Phoenix on Monday, September 21, 2009, between 6 p.m. and 9 p.m. Mountain Time at the Arizona Biltmore hotel, (top left photo) the evening before the 2009 Lodging Conference.


Cost to register is $25 for members and $30 for non-members; on-line registration is available at http://www.hhoa.org/.

“Our members and savvy investors told us that interest in hotel investments remains high, but restrained due to the economy and a general desire to cut expenses,” said Angela Gonzalez-Rowe, (middle right photo) founder and president of the Hispanic Hotel Owners Association.

“We have adapted our format accordingly and, where possible, will schedule our regional events to coincide with major hotel conventions, like the Lodging Conference. The regional meetings will give attendees an opportunity to network with the major brands, lenders, developers, management companies and other key players, as well as obtain important insights into the hotel economy and investing.”

Speakers at this event will include: Anthony Falor, COO, Focused Services Division, Hodges Ward & Elliott; Patrick Feltes, SVP – Hospitality Division, GE Capital Solutions; Carlos Rodriguez, President, DVI Cardel and Rod Blu Investment Funds; and Cathleen M. Lease, Lender Relations Specialist - U.S. Small Business Administration, among others.

To learn more about the Hotel Investment Series, contact Angela Gonzalez-Rowe at 202-587-5707, or http://www.hhoa.org/.

Media contact: Jerry Daly and Chris Daly, Daly Gray Public Relations, (703) 435-6293 jerry@dalygray.com

Wells Fargo/Wachovia Bank Tops U.S. Commercial/Multifamily Servicers in MBA Mid-Year Rankings Report

WASHINGTON, , DC (Aug. 27, 2009 - The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers as of June 30, 2009.

On top of the list of firms is Wells Fargo/Wachovia Bank with $476.2 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $308.5 billion, Capmark Finance Inc. with $248.7 billion, KeyBank Real Estate Capital with $133.1 billion, Bank of America with $132.2 billion, and GEMSA Loan Services LP with $104.8 billion.

A primary servicer is generally responsible for collecting loan payments from borrowers, performing property inspections and other property-related activities.

A master servicer typically serves in a fiduciary capacity and is generally responsible for collecting cash and data from primary servicers and then providing that cash and data, through trustees, to investors. Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles.

Wells Fargo/Wachovia Bank, PNC/Midland, Capmark, and Bank of America are the largest master and primary servicers of commercial/multifamily loans in U.S. CMBS, CDO and other ABS; GEMSA Loan Services, Prudential Asset Resources, PNC/Midland, and Northwestern Mutual are the largest servicers for life companies; PNC/Midland, Wells Fargo/Wachovia Bank, Deutsche Bank, and Capmark are the largest Fannie Mae/Freddie Mac servicers.

JP Morgan Chase Bank ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA the top credit company, pension funds, REITs, and investment funds servicer; PNC/Midland the top FHA and Ginnie Mae servicer; Wells Fargo/Wachovia the top for mortgages in warehouse facilities; and Capmark the top for other investor type loans.

MBA also asked firms to provide information about CMBS loans on which they are the "named special servicer" - that is, where the firm stands ready to service the loan should special problems develop, such as delinquency. The leading named special servicers were LNR Partners, Inc., CWCapital LLC & CWCapital Asset Management, Centerline Servicing Inc., and PNC Real Estate.

The MBA survey also collected servicing volumes for loans on commercial/multifamily properties located outside the United States. Hatfield Philips International ranks as the largest master and primary servicer of non-U.S. commercial/multifamily mortgages, followed by Deutsche Bank and Capmark.

To view the full report, click here.

Contact: Carolyn Kemp, (202) 557-2727, ckemp@mortgagebankers.org