NAI Realvest to Launch Paid Intern Program

MAITLAND - NAI Realvest, which ranks as one of the most active developers of industrial facilities in Central Florida and a leading area commercial property leasing and brokerage firm, is now accepting applications for paid internship positions that will commence in January.

Patrick Mahoney, (top right photo)  president and chief operating officer at NAI Realvest, said the program is open to students from area colleges and universities with an interest in commercial real estate.

Mahoney said NAI Realvest plans to develop a new generation of commercial real estate executives and hopes the most promising NAI Realvest interns will stay on as junior brokers after they earn their college degrees.

“We have designed a comprehensive experiential professional learning curriculum here at NAI Realvest and we expect to invest substantial energies in the development of a corps of promising young executives,” Mahoney explained.

“Our interns will get first-hand mentoring in landlord and tenant representation, property research, legal, sales and leasing contracts, negotiations, property valuations, property management and marketing,” said Mahoney.

For more information, please contact:
Patrick Mahoney, President and COO,  NAI Realvest, 407-875-9989, pmahoney@realvest.com;
George Livingston, Chairman Emeritus, NAI Realvest, 407-875-9989; glivingston@realvest.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,  Lvershelco@aol.com

NAI Realvest and NAI Horizon in Phoenix Negotiate Office Lease for 10,000SF in Scottsdale, AZ

ORLANDO, Fla. - NAI Realvest in Maitland and NAI Horizon in Phoenix recently negotiated a lease agreement for more than 10,000 square feet of office space on behalf of Channel Intelligence at the SkySong mixed-use development in Scottsdale, Ariz.

George Livingston, (top right photo) chairman emeritus of the firm, and Christie Alexander, (bottom left photo)  principal at NAI Realvest, along with Thomas Bean and Patricia Rogers of NAI Horizon represented Channel Intelligence in the lease of the Orlando-based company’s West Coast office.

Channel Intelligence helps retailers, manufacturers and other advertisers make their products and services easier for consumers to find and buy online and in local retail stores.

Higgins Development Partners and Plaza Companies are co-developers of the SkySong project in partnership with the Arizona State University Foundation and USAA Real Estate Company.

For more information, contact:
Christie Alexander, Principal, NAI Realvest,  407-949-0704,  calexander@realvest.com;
George Livingston, Chairman Emeritus, NAI Realvest,  407-875-9989,  glivingston@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,  lvershelco@aol.com

EastGroup Properties Acquires Three-uilding Complex in San Diego, CA $17M

JACKSON, MS--EastGroup Properties (NYSE-EGP) announced the acquisition of the Ocean View Corporate Center in San Diego, California for a purchase price of $17,000,000.

Located in the Otay Mesa submarket, (bottom left map)  Ocean View contains 274,000 square feet in three, multi-tenant business distribution industrial buildings.

Constructed in 2005, the complex is presently 87% leased to 14 customers. Ocean View is projected to generate an annualized yield of 9.6% at its current occupancy and rents.

David H. Hoster II, (top right photo)  President and CEO, stated, "Ocean View is a recently developed, state-of-the-art industrial complex that closely fits our business distribution criteria. This acquisition, which is at a price 20-25% below replacement cost, increases our ownership in the south San Diego market to 465,000 square feet.

"Ocean View represents our fourth purchase in the last nine months and brings our total of newly invested capital to approximately $40 million over that period. We continue to seek additional investment opportunities."

Contact:

David H. Hoster II, President and Chief Executive Officer
N. Keith McKey, Chief Financial Officer, 601) 354-3555

Easton Lynd to Manage Distressed Properties for Warren Buffet-Owned Berkadia Commercial Mortgage

MIAMI, FL— Miami-based Easton Lynd Management, the commercial property management division of The Lynd Company, has been tapped by Berkadia Commercial Mortgage LLC to manage a portion of its distressed property portfolio throughout the United States.

Berkadia, based out of Horsham, Pennsylvania, is a top-rated, special servicer of commercial real estate loans owned jointly by Warren Buffet’s (top right photo)  holding company, Berkshire Hathaway Inc. and Leucadia National Corp.

Berkadia has a portfolio of $240 million, making it the third largest servicer in the United States. Easton Lynd has more than 30 years managing commercial properties with 9.7 million square feet currently under assignment nationwide.

Easton Lynd’s first assignment with Berkadia is a 44,000 square foot stand-alone retail building in Clearwater, Florida, that the loan servicer took back in January 2010. Circuit City had occupied the space prior to its filing bankruptcy and going out of business.

Zac Gruber, (middle left photo)  regional vice president in charge of Easton Lynd said a property manager plays a vital role for a loan servicer when it comes to maximizing a property’s value.

“Timing is very important in distressed situations,” said Gruber. “As a manager, you have to act quickly and be able to identify any issues that are causing the property to lose money. You then have to analyze, prioritize and execute what needs to be done to turn the asset around. It takes a well-trained staff to make this happen.”

Easton Lynd Management, a division of San Antonio, Texas-based The Lynd Company, is one of the country's fastest growing and most advanced commercial real estate management companies.

The firm represents a diverse investor base from small private investors to large institutional clients across multiple property types including industrial, office and retail. Its revolutionary property reporting and tenant interaction capabilities make Easton Lynd a preferred property management firm.

For more information log on to http://www.thelyndco.com/.

Media Contact:  Todd Templin, Boardroom Communications, 954-370-8999 or 954-290-0810, ttemplin@boardroompr.com
Easton Lynd LLC, Zac Gruber, Regional VP, 305-591-9727, zgruber@eastonlynd.com

Crossman & Co. Associate Courtney Kowalchuk Named Real Estate 'Woman of Influence'

ORLANDO - Courtney Kowalchuk, (top right photo)  senior associate at Crossman & Company, the Orlando firm that ranks as one of the largest third-party retail leasing and management firms in the Southeast, was recently named a “Woman of Influence in Florida Real Estate” by Real Estate Florida, a magazine supplement to the national publication Real Estate Forum.

Last year Kowalchuk negotiated over 35 lease agreements valued at more than $15 million.

“Courtney Kowalchuk is one of the brightest young commercial real estate executives in Florida,” said John Crossman, (bottom left photo)  president of Crossman & Company.

“She plays a major role at Crossman & Company and we expect her to play an even bigger role as we expand,” Crossman said.

Kowalchuk is also a new mother. The twin girls, Katie Rayne and Lilly, were born on December 8th, 2009.

Crossman & Company is one of the largest third-party retail leasing and management companies in Florida with over 16 million square feet under leasing and/or management.

Founded in Orlando, Fla. in 1990, Crossman & Company is a full service commercial real estate firm that advises its clients in leasing, management, development and investment sales of retail and office properties and serves clients including Publix Super Markets, Inc., Lake Nona, PREIT, and LaSalle Investment Management.

 Please visit www.crossmanco.com, or call 407-423-5400 for more information.

Contacts:
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Myrtle Beach, SC multi-housing complex receives $9M financing arranged by HFF

DALLAS, TX – The Dallas and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $9 million in financing for Alta Surf Apartments, a 216-unit multi-housing complex in Myrtle Beach, South Carolina.

HFF directors Brian Carlton (top right photo) and Ike Ojala (middle left photo) worked on behalf of the Miami-based borrower, Tate Capital Real Estate Solutions, LLC, to secure the seven-year, fixed-rate loan through HFF’s Freddie Mac (Federal Home Loan Mortgage Corporation) Program Plus® Seller/Servicer relationship.

 The loan was made under Freddie Mac’s Capital Markets Execution (CME) program and Freddie Mac intends to securitize the loan in the near future. One of Tate Capital’s entities acquired the property all-cash in late 2009.

Completed in 2007, Alta Surf Apartments is 88% occupied and community amenities include a resort-style swimming pool, clubhouse, fitness facility, billiards room, laundry facility, car wash, storage units and detached garages. The property is located at 101 Breakers Drive in Myrtle Beach.

Tate Capital focuses on distressed multi-housing and commercial real estate and has developed, contracted and managed more than $1 billion of commercial real estate assets primarily in Florida, Texas, North and South Carolina, the Northeast United States and the Caribbean.

Contacts:

Brian Carlton, HFF Director, (214) 265-0880, bcarlton@hfflp.com
Ike Ojala, HFF Director HFF, (305) 448-1333, iojala@hfflp.com
Kristen Murphy, Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges sale of historic Lincoln Theatre along Miami Beach’s famed Lincoln Road Mall

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged the sale of the historic Lincoln Theatre,(top left photo)  a 38,000-square-foot mixed-use property located on Miami Beach’s famed Lincoln Road Mall.

This transaction is scheduled to close February 1, 2010.

HFF executive managing director Manuel de Zárraga, managing director Danny Finkle (middle left photo)  and associate directors Luis Castillo and Jaret Turkell led the investment sales team on behalf of the seller, New World Symphony. A partnership led by Miami-based Savitar Realty Advisors purchased the property.

Originally built in the 1930’s as a movie house, the Lincoln Theatre is positioned in the protected art-deco architectural district of Miami Beach and is listed as a protected historic site under the National Register of Historic Places.

Located at 541 Lincoln Road, the property is situated on one of the “most unique and successful” pedestrian malls in the United States attracting millions of visitors each year with its art-deco architecture and world-renowned retailers, restaurants and hotels.

The property consists of administrative offices, practice rooms and a 704-seat performance theater that has been occupied by the New World Symphony as their headquarters for the past 20 years.

The New World Symphony will be vacating the entire building upon completion of their new $154 million campus (bottom right rendering), designed by the “world acclaimed” architect Frank Gehry, immediately behind the Lincoln Theatre.

“The Lincoln Theatre is an internationally significant landmark that will start a new chapter in the illustrious history of Lincoln Road, while complementing the new world-class home of the New World Symphony,” stated Finkle.

“We’ve seen the emergence of numerous retailers opening flagship stores on Lincoln Road that have never before had a presence in Florida” added Castillo. “Lincoln Road is in the midst of a renaissance of sorts and this space is positioned at the epicenter.”

Contacts:

Daniel Finkle, HFF Managing Director, (305) 448-1333, dfinkle@hfflp.com
Luis Castillo, HFF Associate Director, (305) 448-1333, lcastillo@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Wyndham Hotel Group to Introduce Two Hotel Brands to Singapore

 PARSIPPANY, NJ – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels and 11 brands, today announced that its Ramada® and Days Inn® brands will enter Singapore with the development of two hotels: the 391-room Ramada Singapore at Zhongshan Park and the 405-room Days Hotel Singapore at Zhongshan Park.

Both new-build properties will be developed by HH Properties Pte. Ltd., a joint venture between niche property development group, Hiap Hoe Limited, and SuperBowl Holdings Limited, an owner and manager of leisure and commercial properties.

Construction will begin early this year and the hotels are expected to open in 2014.

To be managed by Wyndham Hotel Group, the properties will be built at Balestier Road, just opposite Sun Yat Sen Nanyang Memorial Hall, a national monument that pays tribute to the father of the 1911 Chinese Revolution.

The Balestier Road area, rich in history, is home to countless shophouses dating back to the 1840s. With a land area of approximately 17,600 square meters, the hotels will flank Zhongshan Park, creating a unique integrated development with a strong heritage connection and old world charm.

“Singapore is one of the most important business and leisure destinations in the Asia Pacific region and we are thrilled to introduce our Ramada and Days Inn brands to the market,” said Tom Monahan,  (middle right photo) Wyndham Hotel Group executive vice president of international development. “We are excited to work with HH Properties as we expand our global footprint.”

The 17-story Ramada Singapore at Zhongshan Park will include a full service restaurant, fitness center, swimming pool, business center and more than 600 square-meters of meeting space.

The 14-story Days Hotel Singapore at Zhongshan Park will feature amenities including a full service restaurant and fitness center. This will be the first Days Inn property to be managed by Wyndham Hotel Group. The company has a managed portfolio of nearly 30 hotels.

“We have spent a considerable amount of time planning the project and are now looking forward to seeing it take shape,” said Teo Ho Beng, managing director of the Hiap Hoe Group. “We selected Wyndham Hotel Group to manage the hotels based on the company’s strong brands and track record and are really excited about the opportunity to work with the Hotel Group.”

CONTACT:
Rob Myers, Communications Coordinator, Wyndham Hotel Group, 22 Sylvan Way, Parsippany, NJ 07054
973-753-6590, rob.myers@wyndhamworldwide.com

The Hampton Inn Morgantown in West Virginia Completes Extensive Hotel Renovations

MORGANTOWN, WV– The Hampton Inn Morgantown hotel (www.morgantown.hamptoninn.com) has unveiled a new look after completing an extensive renovation this past October. The 107-room hotel is surrounded by the area’s natural beauty, ideally situated near West Virginia University, Cheat Lake, and Coopers Rock State Forest.

The multimillion dollar hotel renovation touched all areas of the property including guestrooms, lobby, reception, breakfast area, business center, and fitness center. In addition, the exterior, entrance and landscaping received a facelift.

The brand new “Perfect Mix” lobby offers plenty of seating options for relaxing, dining or working in a comfortable atmosphere with a contemporary design accented in wood tones. The lobby features soft seating, library shelves, two flat-screen TVs, a new communal table with granite countertop, secure high-speed internet access, signature décor and feature lighting.

“We are delighted to share all these new amenities and upgrades with our guests,” said General Manager Carla Smith. “We continue to provide great service, and these renovations demonstrate our ongoing commitment to our guests’ satisfaction.”

Accented in pear green tones and cherry woods, all 107-guestrooms have been revamped with new built-in wall units and furniture, carpeting, artwork, larger bathrooms, functional workspace, generous lighting, and 32” flat-screen TVs, in addition to Hampton’s Cloud Nine bedding with Serta® dream mattress, feather pillows, soft duvet cover and fresh sheeting.

The newly renovated Hampton Inn Morgantown (www.morgantown.hamptoninn.com) is nestled in the mountains of West Virginia right near West Virginia University and Mountaineer Field at Mylan Puskar Stadium.

The Hampton Inn Morgantown is operated by Interstate Hotels & Resorts (www.ihrco.com), the nation’s largest independent hotel management company.

Contact: Bekah Gillespie, Director of Sales, Hampton Inn Morgantown, Phone: (304) 599-1200

Email: bekah.gillespie@ihrco.com

HFF arranges $9.9M financing with Freddie Mac for Lubbock, TX multi-housing community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $9.9 million financing through Freddie Mac (Federal Home Loan Mortgage Corporation) for the refinance of Sagewood Apartments, (bottom left photo) a 355-unit multi-housing community in Lubbock, Texas.

HFF senior managing director Mona Carlton (top right photo)  worked on behalf of McDougal Companies to secure the 10-year, 5.79% fixed-rate securitized loan. HFF will service the loan through their Freddie Mac Program Plus® Seller/Servicer program.

Located at 5917 67th Street, Sagewood Apartments is close to the Brownfield Highway and Loop 289 Interchange in Lubbock. The property was built in two phases in 1998 and 1984, and is 90% occupied.

During the past 27 years, McDougal Companies has grown into four separate divisions including McDougal Properties, McDougal Realtors, McDougal Land Company and McDougal Construction.

Contacts:

Mona K. Carlton, HFF Senior Managing Director, (214) 265-0880, mcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Sale of far North Dallas multi-housing complex closed by HFF

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of Preston Bend, (centered photo below) a 255-unit multi-housing complex in far North Dallas, Texas.

The HFF investment sales team was led by senior managing directors Bill Miller and managing director Roberto Casas, who exclusively represented the seller, Equity Residential. Richard Hoffmann, president of Anterra Realty Corp,, assisted a private investor from California, who purchased the property for an undisclosed price.

Situated on a nine-acre site at 18790 Lloyd Drive, Preston Bend has immediate access to President George Bush Turnpike in far North Dallas and is close to the Dallas North Tollway, North Central Expressway, Interstate 35 and LBJ Freeway. The 96% leased property has one- and two-bedroom units averaging 726 square feet each. Community amenities include a tennis court, sport court, fitness facility, car care center, playground and swimming pool.

“Preston Bend has a fantastic location within the recognized Plano Independent School District close to the Baylor Regional Medical Center of Plano (above centered photo) and Legacy Business Park,(centered photo below)  which is home to major employers such as EDS, FritoLay, JCPenney and Cadbury Schweppes,” said Miller.

“The stabilized asset is a solid B property, in a good location, which helped drive investor interest. The buyer has a great reputation and transaction history, which helped facilitate a smooth transaction,” added Casas.

Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 494 properties totaling 136,843 units in 23 states and the District of Columbia. www.equityresidential.com.

Anterra provides multi-family services to individuals and financial institutions in the areas of property and construction management, brokerage, due diligence and loan underwriting. Based in Dallas, Anterra currently manages over 5,000 units of apartments ranging from Class A to D properties in all the major cities in Texas. www.anterra.com

Contacts:

Bill Miller, HFF Senior Managing Director, (214) 265-0880, bmiller@hfflp.com
Roberto Casas, HFF Managing Director, (214) 265-0880, rcasas@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Class A mixed-use development in Dallas, TX

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of Broadstone Parkway, (bottom left photo) a 331,473-square-foot, Class A mixed-use property in Dallas, Texas.

HFF managing director Roberto Casas (top left photo)  and senior managing director Bill Miller (middle right photo)  led the investment sales team exclusively on behalf of the seller, Bank of America. USAA Real Estate Company purchased the bank-owned property for an undisclosed price.

Completed in 2008, Broadstone Parkway has 333 residential units plus 40,070 square feet of retail space.

The residential units are 93.4% leased and are available in 10 different layouts averaging 875 square feet each.

Residents have access to community amenities including a fitness center, resort-style pool, movie lounge, internet café, outdoor grills and on-site garage parking.

The retail component is 42.4% leased. Broadstone Parkway is situated on a 7.4-acre site at 5005 Galleria Drive, adjacent to the LBJ Freeway and The Tollway interchange across from the Galleria Dallas.

“Due to the quality of the asset and location, Broadstone Parkway received a tremendous amount of interest during the marketing period. This is one of the first Class A bank-owned multi-housing deals of significance to hit the market which helped fuel investor interest,” said Casas.

USAA Real Estate Company, with over $5 billion of assets, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.

 In addition, the company provides investment vehicles for domestic and foreign investors. The USAA portfolio consists of office, industrial, retail and hotel properties with annual volume transactions exceeding $3 billion.

USAA Real Estate Company is a subsidiary of USAA, which has served military families since 1922 and has become one of America’s leading financial services companies.

For more information about USAA Real Estate Company, visit http://www.usrealco.com/.


Contacts:

Bill Miller, HFF Senior Managing Director, (214) 265-0880bmiller@hfflp.com
Roberto Casas, HFF Managing Director, (214) 265-0880 rcasas@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500krmurphy@hfflp.com

D & A Building Services of Longwood, FL Names Jen DeOrio 2009 Employee of the Year

LONGWOOD, FL, Jan. 26, 2010— Jen DeOrio  (top right photo)senior executive associate with D & A Building Services Inc. has been named 2009 Employee of the Year at the facility maintenance provider.

DeOrio, who interned at the Company during college from 1992 until 1995, joined the company in July 2002 after teaching for several years.

She was the unanimous choice of her peers on the Company’s management team where she supports the husband and wife team of president and executive vice president, Al and Kathy Sarabasa, (middle left photo)  as well as the sales team of both the landscape and janitorial divisions.

DeOrio has a Bachelor of Arts in Education from the University of Central Florida. She resides in Orlando with her husband and daughter.

“Jen is a valued part of our management team,” said Al Sarabasa, Jr., (bottom right photo) president, D & A Building Services Inc. “She is the type of person that jumps in and does whatever it takes to get the job done.”

D & A was recently named the largest janitorial/commercial cleaning company in Central Florida. The Company ranks annually among the Hispanic 500, a national poll of the largest Hispanic owned businesses.

PR Contact: Elaine Ingra, (407) 384-1344, elainei@pr-works.com

Marcus & Millichap Sells 264-Room Hotel in Altamonte Springs, FL

ALTAMONTE SPRINGS, FL, Jan.  26, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Clarion Inn and Suites, (top left photo)  a 264-room hotel located in Altamonte Springs, Florida, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $6,200,000.

Jaimin P. Patel, a Senior Associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Mr. Patel.

Clarion Inn and Suites is located at 230 West State Road 436.

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

HFF secures $4.2M refinancing for 63,000-SF Houston office building

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $4.2 million in refinancing for the Oceaneering Office Building II, (bottom left photo)  a 63,000-square-foot office building in Houston, Texas.

Working exclusively on behalf of the borrower, Cole Space Center, Ltd., HFF senior managing director Susan Hill (top right photo) placed the seven-year, fixed-rate loan with Sentinel Asset Management.

The Oceaneering Office Building II is located at 16665 Space Center Boulevard adjacent to the Lyndon B. Johnson Space Center approximately 20 miles southwest of downtown Houston. The property is 100% occupied by Oceaneering International.

Contacts:


Susan L. Hill, HFF Senior Managing Director, (713) 852-3500 shill@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500 krmurphy@hfflp.com

HFF secures $13.1M refinancing for Worcester, MA grocery-anchored retail center

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a $13.1 million refinancing for Perkins Farm Marketplace, (top left photo) a 203,000-square-foot, grocery-anchored retail center in Worcester, Massachusetts.

Working on behalf of the borrower, an affiliate of Centro Properties Group, HFF director Anthony Cutone (bottom right photo)  and senior real estate analyst Lauren O’Neil placed the fixed-rate loan with UniBank.

UniBank was the lead lender and worked with participants, Webster Five and Marlborough Savings, to provide the $13.1 million loan.


"UniBank is dedicated to the Worcester business community and is pleased to be a part of offering financing to Perkins Farm Marketplace. This is certainly an investment in local commerce as well as the Worcester community," said UniBank vice president Steve Anderson.

Perkins Farm Marketplace was redeveloped in 1998 and is 100% leased to tenants including Super Stop & Shop, A.J. Wright, Building 19, Flagship Bank, Burger King and Bank of America.

Situated on nearly 20 acres, the property is located at 867-965 Grafton Street along the Route 122 retail corridor, approximately three miles from downtown Worcester.

Centro Properties Group (Centro) is a retail investment organization specializing in the ownership, management and development of retail shopping centers. Centro manages both listed and unlisted retail property and has an extensive portfolio of shopping centers across Australia, New Zealand and the United States.

Contacts:

Anthony Cutone, HFF Director, (617) 338-0990, acutone@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Longer-Term Outlook for Senior Housing and Health Care Industry Improves, Says Cambridge

CHICAGO, IL--While there may be no reason for senior housing/healthcare borrowers to believe the immediate future will be a huge improvement over the immediate past, the longer-term outlook continues to brighten.

Cambridge Realty Capital Companies Chairman Jeffrey A. Davis (top right photo)  says the latest good news impacting the financial system involves the government’s much maligned efforts to bail out the banking system.

 In a stunning turnaround, tens of billions of dollars have begun flowing back from the major banks to the U.S. Treasury in recent months. As it turns out, the $700 billion Troubled Asset Relief Program (TARP) program is not on course to become the fiscal sinkhole some were predicting not long ago, he observes.

Speaking recently at a White House summit on creating jobs, President Obama claimed the TARP program “has been much cheaper than any of us anticipated.” And Federal Reserve Board Chairman Ben Bernanke, who pushed for the program, recently told legislators at his second confirmation hearing that he felt the end result for the program would be “something close to breakeven.”

Davis notes that if these assessments hold up, history will be forced to agree with those who now are claiming that the government’s unpopular medicine appears to have saved the patient. However, from the perspective of senior housing/healthcare borrowers, the patient still will appear to be a bit groggy in the months ahead.

“Wall Street banking firms may be solidly in the black, but credit is expected to remain tight as local and regional banks continue to contend with bad loans and a foreclosure rate that continues to rise,” he noted.

For the immediate future, the Cambridge Chairman says credit will continue to be constrained. And banks will be heavily dependent on relationships already in place, either directly with the borrower or with intermediaries representing clients.

For senior housing/healthcare borrowers, activity will primarily revolve around bridge and term lending through commercial banks, Fannie Mae and Freddie Mac government agency lending on independent living and assisted living buildings, and HUD Lean lending on nursing homes and assisted living facilities.

Davis says underwriting is tighter and everything is taking longer than has been the case for the past 20 years. But there are lenders lending and more hopeful signs on the horizon as compared to a few short months ago.

“Owners who have a debt problem should not hesitate to call in outside, expert help,” he advises.

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

Cushman & Wakefield Orlando's Margery Johnson honored by Real Estate Florida Magazine

ORLANDO, FL– Margery Johnson, (top right photo)  Senior Director and Land Specialist in the Orlando office of Cushman & Wakefield (C&W) was honored by Real Estate Florida Magazine as a 2009 ‘Woman of Influence.’ Johnson was one of 17 women commercial estate professionals honored in the Second Annual ‘Women of Influence’ competition.

A 20-year veteran of commercial brokerage in Central Florida, Ms. Johnson cites changes in the historically male-dominated industry, and predicts more for the future.

"Women have played an increasingly significant role since I started over 20 years ago, but we still have a long way to go in becoming leaders in this industry," says Johnson in the Women of Influence feature.

"The economic and social challenges facing our country may bring change to the business. Greater collaboration and cooperation among professionals will be one result of downsizing--we need to work together to foster the best possible outcome for investors and users."

  Matthew McKeever negotiates 2 office transactions for insurance companies totaling 42,000 SF

ORLANDO, FL – Jan. 26, 2010--Cushman & Wakefield of Florida, Inc. (C&W) announced that Public Risk Underwriters renewed their office lease with a long-term commitment in Lake Mary in December.

Senior Director of Office Brokerage Services, Matthew McKeever  (bottom right photo) CCIM, SIOR, represented the tenant in the deal with landlord Colonial Properties Trust which closed on December 7.

Offering property, casualty, workers’ compensation, and risk management programs for government and public sector, Public Risk Underwriters renewed 27,000 square feet in Tower II at Primera.

A 20-year veteran of office brokerage in Central Florida, Matthew McKeever represented Public Risk Underwriters in their original transaction for office space in Primera Tower II back in 2002. "I’ve been brokering office deals for so long that many of my transactions, at this point, are the result of repeat business," says McKeever.

In another deal, Crump Insurance Services leased new offices in CenterPointe I, in Altamonte Springs.(bottom left photo)

 An independent wholesale distributor of commercial property and casualty (P&C) insurance, Crump Insurance signed a contract for 15,083 square feet. McKeever represented the tenant, along with agents from Fisher & Co. in the transaction with Emerson Properties which closed on December 1.

Contact:  Brook Hines, Marketing Associate, Cushman & Wakefield, 800 N. Magnolia Avenue, Suite 450
Orlando, Florida 32803. Tel: 407-541-4401, brook.hines@cushwake.com  http://www.cushwake.com/

Carter Hires Rob Adamson for Focused Brokerage Services Role

ATLANTA, GA—Carter, one of the country’s leading full-service commercial real estate firms since 1958, has hired Rob Adamson (top right photo)  to help the company win additional business in the corporate brokerage services area.

Part of Carter’s Brokerage Services Group, Adamson will leverage his relationships and extensive network to identify and deliver new business opportunities for Carter to invest in buying and selling land and other commercial properties in Metro Atlanta and across the country.

 Building on Carter’s unmatched market knowledge, superior negotiation skills and level of professionalism, Adamson will help Carter further leverage trustworthy relationships, build new solid relationships and gain a mutual trust in the industry while specifically focusing on land and investment properties.

Carter’s Chief Executive Officer Bob Peterson said, “Rob is a valuable addition to our Brokerage Services Group and is just what we’re looking for to spearhead distressed land and bank opportunities during a challenging economic time when we are seeing a complete turnover of ownership in this area of commercial real estate.”

Adamson currently is marketing more than $60 million worth of bank-owned properties. Adamson joins Carter from Wildwood Property Group, LLC.

Contact:  Tony Wilbert, twilbert@wilbertnewsstrategies.com,  http://www.wilbertnewsstrategies.com/, 404-888-3091 office, 404-405-3656 cell

Grubb & Ellis Expands Pacific Northwest Region; Bob Dean Assumes Regional Responsibility for Portland Office

SANTA ANA, Calif. (Jan. 25, 2010) -- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has expanded the responsibilities of Bob Dean,  (top right photo) executive vice president, regional managing director, Pacific Northwest, to include the Portland office.

Dean has served as the Pacific Northwest regional managing director for the past four years. In addition to having responsibility for the regional management of the Portland office, he will continue to have the day-to-day management responsibilities for the company’s Sacramento, Roseville and Stockton offices, as well as the regional oversight of the company’s Seattle operations and three affiliate offices.

He will work closely with the individual market leaders to improve profitability, recruit and expand client relationships.

“As regional managing director of the Pacific Northwest, Bob has demonstrated an immense capability for growing the business,” said Jack Van Berkel (bottom left photo), , chief operating officer and president, Real Estate Services. “He is a well respected professional and will play a key role in business operations as we expand the region to include our Portland office.”

During his tenure, Dean has recruited a number of market-leading brokerage professionals throughout the Pacific Northwest. Most recently, he played a key role in recruiting Bill Condon to lead the company’s Seattle office.

Dean began his commercial real estate career with Grubb & Ellis in 1987 as a broker specializing in office properties. He joined Bishop Hawk Commercial Real Estate in Sacramento in 1988, where he served as a manager for six years.

He returned to Grubb & Ellis in 1993 as senior vice president, district manager of the Sacramento office. In 1998, Grubb & Ellis Company acquired Bishop Hawk, in which Dean played a key role in, creating one of Northern California’s largest commercial real estate brokerage firms. He was honored at Grubb & Ellis' Circle of Excellence in 1996, 2005, 2006 and 2007.

Dean is a member of the NAIOP and the Association of Commercial Real Estate. He holds a bachelor’s degree from California State University, Chico, and a master’s degree from California State University, Sacramento.

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