Arbor Closes $825,000 Fannie Mae DUS® Small Loan for Brownlee Villas Apartments in Atlanta, GA

Uniondale, NY (September 10, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $825,000 loan under the Fannie Mae DUS® Loan product line for the 34-unit complex known as Brownlee Villas Apartments in Atlanta, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.

The loan was originated by Alexander Kaushansky, (top left photo) Director, in Arbor’s full-service New York, NY office. “Arbor was pleased to deliver for this client in this challenging market,” said Kaushansky.

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
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Stan Johnson Co. completes sale of IHOP Ground Lease in Harvey, LA

NEW ORLEANS, LA – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of 0.97 acre land parcel 100% leased to IHOP Restaurant located at 1719 Manhattan Blvd. in Harvey, LA to a 1031 private investor for an undisclosed purchase price.

Hunter Jaggard and Daniel Herrold in the Houston office of Stan Johnson Company represented the seller,

Weingarten Realty Trust. John Davidson with Four Corners Commercial Realty Partners represented the buyer in the transaction.

“We had a very positive response in our marketing efforts,” said Jaggard. “In fact, we received an offer in our first week of marketing from the buyer that ultimately closed on the deal.”

The property is located at Manhattan Place shopping center on Manhattan Boulevard, one of the key retail corridors in New Orleans’ West Bank. The center, encompassing 258,317 square feet, is currently 98 percent leased with anchors such as Target, Stage and Ross.

Contact:  David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com

Cambridge Realty Capital Chairman Jeff Davis Co-Authors Article on Senior Living Property Sector

CHICAGO, IL--How the senior living property sector is perceived by the institutional investor is explored in an article published in a recent issue of the Journal of Real Estate Portfolio Management.

The article, co-signed by Elaine Worzala (bottom left) of Clemson University, Judith F. Karofsky of Madison, Wisconsin-based Real Estate Insites LLC, and Cambridge Realty Capital Companies Chairman Jeffrey A. Davis, (top right photo)  provides both an academic and business perspective on the subject.

The authors point out that the demand for real estate products designed with elderly end-users in mind is growing. They also note that the risk/return profiles of these investments are shifting.

According to an executive summary prepared by the authors, the aim of the research was to shed light on the perceived risks and returns associated with the specific types of investments available in the senior housing sector at this time.

Members of the Pension Real Estate Association were queried to learn how they view this property sector compared with alternative real estate investments and more traditional institutional investments, such as stocks and bonds.

The researchers learned that institutional investors do not appear to be investing in most of the seniors housing product available because they perceive it to have relatively high risk compared to more traditional real estate investments or alternative investments like international real estate.

The authors provide an in-depth analysis of the major senior housing sub-sectors and offer recommendations regarding what can be done to improve investor perceptions.

The complete Journal of Real Estate Portfolio Management article is posted in the Papers and Presentations section of the Resource Center tab on the www.cambridgecap.com website.

Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com
Twitter: http://twitter.com/CambridgeCap

Marcus & Millichap Sells 51-Acre, Multi-Family Development Site in North Port, FL

NORTH PORT, FL, September 9, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Largo Preserve, (centered photo below) a 51.86 acre multi-family development site located in North Port, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $1,900,000.


Paul Bouldin, ( bottom left photo) Senior Associate, spearheaded the effort with Dorothy Jackman, (top right photo)  Vice President Investments and Michael Harris, Investment Associate in Marcus & Millichap’s Tampa office.

As part of Marcus & Millichap’s Special Assets Services division, focused on lender-controlled commercial real estate assets, together they were exclusively engaged to market the property on behalf of the seller, a financial institution. The buyer, a department of the county government, was secured and represented by Paul Bouldin.

Largo Preserve is located at 1416 Passover Street in North Port, Florida.

“We have been very successful in assisting a number of lenders with their distressed assets," Bouldin said. "Our reputation with lenders across Florida has grown, along with our pool of buyers seeking these types of opportunities.

"Marcus & Millichap’s unique platform is providing ways to clear transactions where others have been unable to bridge the gap between bids and asking prices. Largo Preserve was a failed 480-lot town home community taken back by the lending bank. The county government unit that bought the property plans to retain it for future uses."

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Ramada Brand Opens First Hotel in Russia; Now Present in 48 Countries

PARSIPPANY, N.J. (Sept. 10, 2009) – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels under 11 brands, today announced the continued expansion of its Ramada® hotel chain with the opening the brand’s first hotel in Russia: the 156-room Ramada Yekaterinburg (top right photo)..

Owned by Mayak Corporation Ltd. and managed by Sophos Hotels, the property is the brand’s fifth hotel to open in a new market in the past year and gives the brand a presence in 48 countries.

“Ramada hotels continue to have the most diverse global presence of any Wyndham Hotel Group brand, with close to 350 of the chain’s nearly 900 properties located in key destinations outside the United States,” said Michael Poynter, (middle left photo)  Wyndham Hotel Group senior vice president and managing director, Europe, Middle East and Africa. “The brand’s entrance into Yekaterinburg, one of Russia’s largest and most vibrant cities, is a testament to its powerful international appeal.”

Situated three and a half miles from Kotsovo International Airport, the six-story Ramada Yekaterinburg (bottom right map) consists of 132 guestrooms, 24 suites and six cottage apartments. Highlights of the hotel include complimentary airport and city shuttles, state-of-the art business and fitness centers, heated indoor and outdoor swimming pools, sauna, full-service restaurant, three bars and night club. Rooms feature high-speed wireless Internet access and 32-inch flat-screen televisions.

Yekaterinburg-based Mayak Corporation Ltd., a 20-year old private construction and property development company, specializes in commercial real-estate and has worked with numerous major international partners. Most recently, the company has placed a strong focus on working with Wyndham Hotel Group to develop a presence in the central and Eastern Europe hotel market. More information is available at http://www.ural-mayak.ru/.

Switzerland-based Sophos Hotels SA, a privately held hotel management company specializing in a commitment to efficiency and value through a lightweight and proactive structure, currently manages over a dozen hotels throughout Central and Eastern Europe, including the Days Inn Lourdes.


Additional information is available at http://www.sophoshotels.com/.

Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN), encompasses more than 7,000 hotels and 590,000 rooms under the hotel brands: Wyndham Hotels and Resorts®, Ramada®, Days Inn®, Super 8®, Wingate by Wyndham®, Baymont Inn & Suites®, Microtel Inns & Suites®, Hawthorn Suites®, Howard Johnson®, Travelodge® and Knights Inn®.

All hotels are independently owned and operated excluding certain Wyndham and international Ramada hotels which are managed by our affiliate or through a joint venture partner. Wyndham Hotel Group is based in Parsippany, N.J. Additional information is available at http://www.wyndhamworldwide.com/.

CONTACT: Christine Da Silva, 973-753-6590, christine.dasilva@wyndhamworldwide.com