Chatham Financial Partners With Intuit Real Estate Solutions

KENNETT SQUARE, PA, Sept. 23, 2009--Chatham Financial, the largest independent interest rate and foreign exchange risk management advisor, announced today a strategic alliance with Intuit Real Estate Solutions (IRES). IRES, a division of Intuit Inc., (Nasdaq: INTU) provides real estate portfolio management and accounting software solutions to the global real estate industry.

Chatham has an alliance with IRES to connect Chatham’s FMS debt management system with IRES’ IMPACT system to create a complete view of asset and debt details together in a tool that will enable users to better evaluate risks and opportunities across their portfolio.

FMS is a powerful and dynamic debt management system that provides a clear view of a company’s debt profile. FMS incorporates sophisticated interest rate modeling with real time market data giving companies information and confidence to effectively manage their debt. IMPACT is IRES’ stand-alone application that allows clients to create investment models and scenarios, to evaluate buy, hold and sell decisions, and to deliver portfolio-wide performance reporting.

“Understanding the impact of debt in the current and future valuation of assets and portfolios is key in today’s market environment, and having an integrated debt management solution is critical for our client’s success.” said Jeff Thompson, (top right photo) division president of IRES. “The combination of IMPACT and Chatham’s FMS debt management system will provide an unmatched solution for our joint clients.”

Contact:  Joy Peterson, 720 249 3606, mailto:Peterson720.249.3606jpeterson@chathamfinancial.com

CB Richard Ellis Chosen for 2009 InformationWeek 500

Los Angeles, CA – September 23, 2009 – CB Richard Ellis (CBRE) announced that it has been selected for the prestigious 2009 InformationWeek 500 for the third consecutive year. That publication's annual list identifies and honors the nation's most innovative users of information technology.

A key element in CBRE's inclusion in this year's InformationWeek 500 was the development of a new application called CBRE MarketPlace, which helps securely expedite the property sales process.

CBRE MarketPlace addresses the challenge of providing potential investors the significant amount of information required to consider an offer on a property while also allowing for accelerated investor qualification by CBRE sales professionals. The application offers tools and control points for brokers to share detail information with investors at their discretion while reducing significant third party costs.

"Providing the right solution for our clients requires a 24/7 culture of technology innovation combined with industry leading market insight," said Don Goldstein, Chief Information Officer for CB Richard Ellis. "CBRE's inclusion in the InformationWeek 500 for the third year in a row, underscores the talent of our professionals and the power of our platform."

"For 20 years, the InformationWeek 500 has honored the most innovative users of business technology," said InformationWeek Editor-in-Chief Rob Preston (top right photo) . "Year after year, InformationWeek 500 companies harness technology to improve efficiency, boost productivity, drive revenue, and establish a competitive advantage. We applaud this year's winners, and the CIOs and other executives whose ingenuity and risk taking are at the center of business technology innovation."

Contact: Robert McGrath, 212.984.8267, robert.mcgrath@cbre.com

Marcus & Millichap Sells $37.25M Apartment Portfolio in San Pedro, CA

SAN PEDRO, Calif., Sept. 23, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Harbor View and Bay Ridge, (top right photo)  two apartment communities totaling 220 units in San Pedro. The sales price of $37.25 million represents $169,318 per unit and $168.74 per square foot.

Greg Harris, an executive vice president investments and senior director of the firm’s National Multi Housing Group (NMHG) in Encino, and Ron Harris, a senior vice president investments and senior director of the NMHG in Los Angeles, represented the seller, Equity Residential.

“Despite current market conditions, we continue to create opportunities for our clients,” says Greg Harris. “The core-plus asset located adjacent to Rancho Palos Verdes attracted the most qualified and sophisticated buyers in the marketplace seeking a stable long-term investment with future upside.”

“Although rents at the property had fallen approximately 20 percent during the past year and there was some softness in operations, investors felt that rental rates were beginning to stabilize,” says Ron Harris. “Due to the high quality of this asset and the ability to quantify a moving-forward net operating income, the property attracted offers from a variety of buyers. The buyer closed at a cap rate of approximately 7 percent based on today’s asking rents,” adds Harris.

Located at 1286 and 1099 W. Capital Drive and built in 1984 and 1987 respectively, Harbor View and Bay Ridge are exempt from Los Angeles rent control laws.

Harbor View is a 160-unit multi-family community and Bay Ridge has 60 units.

Both assets offer deluxe accommodations with nine-foot and vaulted ceilings, gourmet kitchens with gas ranges, wood-burning fireplaces, central air-conditioning and heating and individual washers and dryers. Amenities include swimming pools, spa, state-of-the-art fitness center, dry heat sauna, oversized sundeck and ample onsite parking. Each asset also has condominium entitlements.

San Pedro is a neighborhood in the city of Los Angeles located at the eastern tip of the Palos Verde peninsula with views of the Pacific Ocean.


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