NAI Realvest negotiates two new industrial leases totaling 5,000 SF in Casselberry, FL and Sanford, FL

MAITLAND, FL --- NAI Realvest recently negotiated two new three-year lease agreements for industrial space totaling 5,000 square feet at commerce centers in Sanford and Casselberry.

Michael Heidrich, (top right photo)  a principal in the firm, brokered both transactions at

• Monroe CommerCenter South, representing landlord COP-Monroe LLC and the tenant, Orlando Pump & Equipment LLC who leased 2,000 square feet at 647 Progress Way in Sanford, and

• Anchor Road Commerce Center, representing the landlord Justin Time Developers, LLC of Longwood and the tenant, Casselberry-based Enterprise Telecom Solutions LLC who leased units 1713 and 1719 with a total of 3,000 square feet at 211 Reece Way in Casselberry.

For more information, please  contact:
Michael Heidrich, Principal, NAI Realvest 407-875-9989 mheidrich@realvest.com
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

CBRE Capital Markets Arranges $15.6M Permanent Financing for Bridgeview Apartments in Tampa, FL

TAMPA, FL, Dec.  7, 2009 – CBRE Capital Markets, a Freddie Mac correspondent, has arranged acquisition financing in the amount of $15,600,000 for Bridgeview Apartments, a multi-family community totaling 348 units located in Tampa, Fla.

Community amenities include a swimming pool/spa, clubhouse, car wash area, two lighted tennis courts, and playground. Terms of the fixed rate financing include a 10-year term, 30 year amortization, 75% loan to purchase price and very favorable interest rate.

Charles J. Foschini, (top right photo)  vice chairman of CBRE's Debt & Equity Finance and Institutional Group located in CBRE's Miami office arranged the financing through Freddie Mac on behalf of Bridgeview Apartments, LLC, along with his team members.

CBRE Capital Markets is consistently among the top three Freddie Mac Seller/Servicers each year and was number one for the first and second quarters of 2009. Since 2003, CBRE Capital Markets has originated over 817 multi-family transactions totaling in excess of $12.2 billion.

 In addition to the consistent high rankings of loans originated for purchase by Freddie Mac, CBRE Capital Markets has received the top Correspondent Scorecard Ranking among Freddie Mac Seller/Servicers for 2005 and 2006.


Contact:  Rachel Andreozzi, 954.745.7464, rachel.andreozzi@cbre.com

Orange County Court Appoints Hans Mumper of Grubb & Ellis Receiver of Maguire Properties Asset in Irvine, CA

IRVINE, CA (Dec. 7, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that the Orange County Superior Court appointed Hans Mumper (top right photo),  senior vice president, director of Management Services, as receiver of 2600 Michelson (centered photo) , a 310,000-square-foot Class A office building owned by Maguire Properties.

“This property will once again become one of the outstanding assets in the market,” said Mumper. “An intensive marketing campaign will reintroduce this asset and help us increase the value for the benefit of the ownership structure.”

Greg May and Oliver Fleener, both senior vice presidents in the company’s Newport Beach office, will be responsible for leasing the asset. Current space availability ranges as small as 1,400 square feet and up to 80,000 square feet.

“2600 Michelson is a high-quality building that provides tenants with many surrounding amenities, unobstructed views and an excellent location,” said May. “During this current business cycle it is also very important to make the market aware that the ownership structure is fully capable to fund tenant improvement and commissions. We have already received numerous inquiries since we took the leasing assignment and are involved in negotiations with a number of tenants.”

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

Tampa Hotel Completes Multimillion-Dollar Makeover

Sheraton Suites Tampa Airport Westshore Unveils Comprehensive Transformation of Property

TAMPA, FL (Dec.  7, 2009) – Showcased by a gala opening and ribbon-cutting, the Sheraton Suites Tampa Airport Westshore officially completed its multimillion-dollar renovation and unveiled the Westshore district’s “newest” property. The 261-suite hotel is managed by Davidson Hotel Company, one of the nation’s largest independent hotel management companies, which also oversaw the extensive eight-month-long project. The hotel is co-owned in a joint venture between Square Mile Capital Management and Davidson.

“With this sweeping renovation, we offer a completely new guest experience, with a goal of becoming the leading business property in the Westshore area,” said Ray Zepp, general manager. “This hotel has been an important part of the Westshore community for so many years, and these latest enhancements will provide our guests with the highest quality product in the market.”

“Our objective was to implement a plan that would help make this hotel a focal point in Tampa’s business district, as well as attract business and leisure travelers visiting the city,” said Pat Lupsha, Davidson’s chief operating officer. “We intend to deliver exceptional service levels to our guests that match the upscale renovation.”

The property’s facelift touched virtually every aspect of the hotel, including all of the two-room suites; the eight-story tropical atrium; the innovative, modern business lounge; the 12,000+ square feet of meeting space (including a 2,000 square foot expansion); the St. James Grill Restaurant and Bar; and the fitness center and pool area. It also added such signature Sheraton amenities as the Sweet Sleeper Bed, the ‘Link @ Sheraton’ lobby, flat-panel HD televisions and hardwood flooring on select floors.

Colleen Beck, director of sales and marketing at the hotel, noted that although the renovations came at a time when the economy is affecting nearly every industry, the hotel’s renovations were needed to meet the unique needs of business travelers. “This is a special property with a legacy of serving the Westshore area. The upgrade totally repositions the hotel and returns it to its leadership role in the market,” she added.

Located at 4400 West Cypress Street, in Tampa’s upscale Westshore business district, a significant locale for both business and leisure, the Sheraton Suites Tampa Airport Westshore is surrounded by more than 11 million square feet of office space.
 For more information or reservations call (813) 873-8675, or visit http://www.sheratontampaairport.com/.

Contacts:

Cyndi Norwood, Davidson Hotel Company, (901) 821-4155, cnorwood@davidsonhotels.com
Jerry Daly, Chris Daly, Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com