CashCall Mortgage and Its ‘Free Closer’ Beat the Big Banks Again

Company Offers 30-Year, 4.875% Fixed-Rate Mortgage with Zero Points and No Closing Costs


ANAHEIM, CA--(BUSINESS WIRE)--Just when America’s largest banks thought they had cornered the market, CashCall Mortgage beats their supposedly low rates yet again.

 This time, CashCall gives consumers a low fixed-rate of just 4.875% with zero points and zero closing costs.

With the exception of taxes and insurance, consumers pay nothing to close, and there are no built-in points (those extra up-front fees banks love to charge). Loans of up to $417,000 qualify for this special ‘Free Closer’ plan.* (See www.CashCall.com for details.)

The unique ‘Free Closer’ loan from CashCall Mortgage also eliminates the confusing difference between the interest rate and the APR (annual percentage rate). Because CashCall pays the closing and doesn’t add points, there are no additional fees; so, the advertised 4.875% rate is what you pay… that’s it.

(NOTE: Take a look at the rates most banks advertise. While the interest rate is said to be 5.25%, for example, the APR, what you’re actually paying, is closer to 5.75% because of added points and fees.)

CashCall’s rates are consistently lower than Wells Fargo and Bank of America. For example, Wells Fargo’s version of the free closer is priced at 5.25% with 1 point; Bank of America’s is priced at 5% with 1.125 points (as of 1/6/ 2010).

“It’s a simple, but powerful idea,” explains company founder and president, J. Paul Reddam (top left photo) . “CashCall Mortgage has committed to offering American families very low interest, 30-year, fixed-rate loans.

"The rate is 4.875%; the APR is 4.875%. There are no more seemingly endless charges traditionally associated with many bank-offered mortgages… additional fees that can push the total cost of home ownership beyond the means of many American families.”

Higher Rates on the Horizon… Last Chance to Refinance Below 5%

The sub-5% fixed-rate mortgage from CashCall comes at a critical time for potential homebuyers. Reports out of Washington indicate that mortgage rates will most likely rise throughout 2010 and remain higher for the foreseeable future.

 As CNN reported (CNNMoney.com, January 7, 2010), “If you want to refinance your mortgage into a loan with a sub-5% interest rate, better hurry. Your window of opportunity is closing fast... for most borrowers, rates are rapidly rising into the 5%-plus category.”

What does this mean for those shopping for a mortgage? The historically low rates are quickly disappearing, particularly from the larger banks. Now may be the optimum time to secure a mortgage. By this time next month, and certainly by the second quarter of 2010, interest rates will be on the rise.

“As you can imagine,” says Reddam, “major financial institutions would like nothing better than to raise mortgage rates. We want to encourage homebuyers to act quickly, act now, if they possibly can, to secure a sub-5%, 30-year, fixed-rate loan.

" As the chief economist for Moody’s Economy.com put it: ‘Interest rates are up and they’re not going down below 5% again.’

So, even if you don’t choose CashCall, I encourage consumers to act now on securing a mortgage. I do believe that our ‘Free Closer’ program helps make the process easier and certainly much less expensive. Put your money into the home you want, not into points and closing costs.”

Founded in 2003, CashCall, Inc. has grown to become one of the nation’s premier consumer finance lenders. Headquartered in Anaheim, California, the company employs over 250 lending professionals, each dedicated to providing exceptional customer service.

 A pioneer in the use of innovative computer technologies and forward-thinking management systems, CashCall has been able to simplify the loan process, greatly reduce costs and pass the substantial savings along to customers.

 Unlike so many of its competitors, CashCall does not charge application fees or cancellation fees. CashCall Mortgage, a division of CashCall, Inc., specializes in new mortgages and home refinancing.

CashCall is an equal housing lender. CashCall Inc. offer extends to loans of up to $417,000, owner occupied, rate and term refinances at 80% loan to value with impounds and minimum 740 FICO score.

Rates subject to change without notice. Not all applicants will qualify and certain restrictions apply. Loans will be made pursuant to Department of Corporations California Finance Lenders Law License No. 603-8780.

Contacts: CashCall, Dan Baren, Media Relations, 866-708-5626, dan.baren@cashcall.com

Isaacson Rosenbaum Relocates to Newly Designed Office Space in Denver, CO; Launches a New Era for Law Firms

DENVER, CO--(BUSINESS WIRE)--Once upon a time, law firms filled huge, smoke-filled corner offices with plush leather couches and oak desks that seemed more like an armory than a meeting space.

Isaacson Rosenbaum P.C., a leading Denver law firm established in 1961, challenged that dated tradition this year with a newly designed office space in the heart of downtown Denver.

The firm recently moved into its new 34,000 sq. ft. suite of offices on the 18th floor of 1001 17th Street. The workplace, planned and created by Isaacson Rosenbaum attorneys and staff, has been built in a sustainable and efficient manner and is registered for Leadership in Energy and Environmental Design (LEED) certification from the United States Green Building Council.

In addition to its commitment to sustainability, Isaacson Rosenbaum made a decision to foster improved collaboration between attorneys.

“The change has been significant for our staff,” said Matt Pluss, (top right photo)  shareholder, head of the committee that helped to move and shape the space. “By consolidating three floors into one, eliminating nearly 10,000 square feet of unneeded space and creating more meeting rooms, we are finding a lot more collegiality firm-wide.”

According to Pluss, the timing of Isaacson Rosenbaum's move signaled a clear opportunity to modernize, fashion more democratically sized workspaces and lead the way toward "The New Law Firm of 2010."

Corner offices were eliminated in favor of shared meeting rooms with breath-taking views and an employee social area with lounge with food, drinks, a large-screen TV and a Nintendo Wii.

Others participating in the massive project that took two years from planning through construction include RNL, a local architecture firm, and i2 Construction, LLP.

 Attorneys participating include Jon Steeler,(middle left photo)  Neil Oberfeld, Theresa Corrada, (bottom right photo)  Jon Tandler and Steve Wright, shareholders.

Attorneys and staff involved in the project were guided by the IR Law's own Sustainability Committee and Sustainable Development Practice Group.

The new office incorporates special fixtures to reduce water usage by 30 percent and natural daylight harvesters which measure the amount of light coming in from the outside and reduce overhead lighting accordingly.

Task lighting in offices has further decreased the amount of wasted artificial lighting. Carpets, flooring and other office improvements are made from recycled, reused or rapidly renewable materials. Countertops are fashioned from marble and stone native to Colorado.

Isaacson Rosenbaum is a comprehensive legal services firm based in Denver that helps clients find winning solutions for their businesses.

 The firm's attorneys are nationally recognized experts in Real Estate and Sustainable Development, Environmental Law, Criminal and Civil Litigation, Public Law and Policy, and Business and New Media and they can be found at www.ir-law.com.

Contacts:  Isaacson Rosenbaum, Anita Russell, 303-256-7025, Mobile: 720-480-1903, arussell@ir-law.com

Seldin Company Completes $5.9M Real Estate Transaction in Omaha

Sale of 70,000 SF. Building and 8 Acres of Land to Goodwill Industries

OMAHA, NB.--(BUSINESS WIRE)--Randy Lenhoff,  (top right photo) President and CEO of Seldin Company, announced the sale of a 70,000 square foot building located in Omaha, Nebraska to Goodwill Industries, Inc.

This brand new facility will serve as the new headquarters for Goodwill Industries serving Eastern Nebraska and Southwest Iowa. In addition, this building will include a 25,000 sq. ft retail store and additional space to be utilized for educational programs.

The purchase price was $5,900,000. In addition, the Seldin family donated 352,000 sq. ft. (8.03 acres) of fully improved infrastructure and paved parking area serving the new building, which is valued at $1,850,000.

Ted Seldin  (middle left photo) stated, “My partners, Millard Seldin, Stanley Silverman and our families are pleased and proud to provide this donation to Goodwill to further its amazing record of service to the underprivileged and handicapped as well as providing quality clothing and household items at affordable prices throughout the Omaha metro area.

"Our family hopes that our contribution will provide a catalyst and help the Goodwill capital campaign.”

Randy Lenhoff, Seldin Company President and CEO stated, “We are pleased to welcome Goodwill Industries to Benson Park Plaza, which when fully built will have added over 250,000 sq. ft. of new commercial space and over 500 new jobs in North Central Omaha.”

The Benson Park Plaza is a dynamic example of cooperation between the public and private sector to remove urban blight and create economic development for a metropolitan area.

The area originally received a “blighted” designation by the Omaha Planning Department in 1998.

The property has subsequently been redeveloped by the Seldin Company in cooperation with the City of Omaha and is now a thriving retail shopping center

 In addition to Goodwill Industries, current tenants of Benson Park Plaza include Baker Supermarket, Home Depot, Hancock Fabrics, Blockbuster Video, Famous Dave’s Barbeque, International House of Pancakes (IHOP), McDonald’s, Arby’s, PepperJax Grill, Sonic, and Subway.

Randy Lenhoff stated, “In 1999, at the start of re-development, the assessed value of the 40 acres of land and buildings on the land now comprising Benson Park Plaza was only $2,500,000, generating only $53,000 per year in real estate taxes.

When Benson Park Plaza is completed, the assessed value will be over $25,000,000, providing an increase of over $500,000 per year in new real estate taxes.”

Contacts: 
Seldin Company, Randall R. Lenhoff, 402-333-7373, President/Chief Executive Officer,  randyl@seldin.com

Prime Group Realty Trust’s 330 North Wabash Avenue and Continental Towers Properties Earn BOMA 360 Designation in Recognition of Excellence in Building Management

CHICAGO--(BUSINESS WIRE)--Prime Group Realty Trust (NYSE: PGEPRB) (the "Company") announced  that 330 North Wabash Avenue (top right photo)  in Chicago and Continental Towers (top left photo)  in Rolling Meadows are the first properties in the state of Illinois to be designated BOMA 360 Performance Buildings by the Building Owners and Managers Association International (“BOMA”).

The BOMA 360 Performance Program validates and recognizes commercial properties that demonstrate best practices in building operations and management.

Prime Group Realty Trust’s President and CEO Jeffrey A. Patterson (bottom left  photo) stated that the “designation is a great way to recognize the exemplary management at our properties.

 The managers of these properties, both of which are past recipients of BOMA’s Office Building of the Year Award, continue to provide innovative management and operational processes at the properties, which benefit the tenants and owner alike.”

“We are proud to designate 330 North Wabash Avenue and Continental Towers as BOMA 360 Performance Buildings in recognition of the high standards that Prime Group Realty Trust’s management teams have achieved in every aspect of building operations and management,” said BOMA International Chair James A. Peck, (middle right photo) RPA, FMA, senior director of asset services, CB Richard Ellis.

“By achieving the BOMA 360 designation for its buildings, the Company demonstrates to its tenants, prospective tenants and the community that their properties are being managed to the highest standards of excellence."

The BOMA 360 Performance Program evaluates properties in six major areas: (i) building operations and management; (ii) life safety, security and risk management; (iii) training and education; (iv) energy; (v) environment/sustainability; and (vi) tenant relations and community involvement.

The BOMA 360 Performance Program takes a holistic approach to evaluating a building’s operations and management, and benchmarks a building’s performance against industry standards. The program comes at a critical time, as building owners and managers are looking to differentiate themselves in a demanding market.

For more information on the BOMA 360 Performance designation, visit www.boma.org/GetInvolved/BOMA360.

Prime Group Realty Trust is a fully-integrated, self-administered, and self-managed real estate investment trust (“REIT”) which owns, manages, leases, develops, and redevelops office and industrial real estate, primarily in metropolitan Chicago.

The Company currently owns 8 office properties containing an aggregate of 3.3 million net rentable square feet and a joint venture interest in one office property comprised of approximately 101,000 net rentable square feet.

The Company leases and manages approximately 3.3 million square feet comprising all of its wholly-owned properties. In addition, the Company is the asset and development manager for an approximately 1.1 million square foot office building located at 1407 Broadway Avenue in New York, New York. For more information about Prime Group Realty Trust, contact the company's Chicago headquarters at (312) 917-1300 or visit its web site at www.pgrt.com.

330 North Wabash Avenue is a 52-story mixed-use tower, landmarked by the City of Chicago, and is the last and largest office structure designed by renowned architect Mies van der Rohe  (bottom right photo)

The building won The 2007/2008 Office Building of the Year (“TOBY”) award for the North Central Region in the category of over one million square feet, competing against buildings in more than five other states for the prestigious award, which is sponsored by BOMA. A five-star hotel with approximately 335 guest rooms has acquired the lower twelve floors of the building.

Continental Towers recently won The 2008-2009 TOBY for the five-state North Central Region from BOMA. This is the third time in the last five years that Continental Towers has won this prestigious award for the five-state North Central Region.

In addition, the Complex has won the TOBY Award for the Chicago Suburban market four times in the last five years. The Complex is an Energy Star rated 910,000 square foot office complex encompassing three 12-story towers inter-connected by pedways to a multi-level retail concourse known for its many amenities.

Contacts:
Prime Group Realty Trust, Jeffrey A. Patterson, President and Chief Executive Officer, (312) 917-1300
Paul G. Del Vecchio, Executive Vice President-Capital Markets, (312) 917-1300

STR reports US performance for week ending 2 January 2010

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in occupancy and revenue per available room during the week 27 December 2009-2 January 2010, according to data from STR.

This is the first week in which two of the three key performance metrics were positive since the week ending 20 December 2008.

In year-over-year measurements, the industry’s occupancy increased 5.9 percent to end the week at 45.5 percent. Average daily rate dropped 4.0 percent to finish the week at US$99.79. RevPAR for the week rose 1.6 percent to finish at US$45.37.

Among the Top 25 Markets, St. Louis, Missouri-Illinois, experienced the largest occupancy increase, jumping 35.4 percent to 42.2 percent. Three other markets reported occupancy increases of more than 20 percent: Philadelphia, Pennsylvania-New Jersey (+26.8 percent to 42.6 percent); Boston, Massachusetts (+23.6 percent to 40.9 percent); and Atlanta, Georgia (+21.5 percent to 43.3 percent). Houston, Texas (-6.3 percent to 34.4 percent), and San Francisco/San Mateo, California (-2.4 percent to 61.6 percent), were the only markets to report occupancy decreases for the week.

Atlanta was the only market to post an ADR increase, up 3.9 percent to US$73.37.

 Three markets experienced double-digit ADR decreases: Houston (-13.2 percent to US$69.88); Phoenix, Arizona (-12.8 percent to US$91.04); and Denver, Colorado (-10.0 percent to US$72.20).

St. Louis led the RevPAR increases, jumping 33.5 percent to US$28.72, followed by Atlanta (+26.3 percent to US$31.74), Philadelphia (+21.2 percent to US$40.31), and Boston (+20.9 percent to US$44.39). Two markets posted RevPAR decreases of more than 10 percent: Houston (-18.7 percent to US$24.07) and San Francisco/San Mateo (-12.0 percent to US$68.24).

Marriott updates Q4 RevPAR guidance

 BETHESDA, MD, /PRNewswire-FirstCall/ -- Marriott International, Inc. (NYSE: MAR)  said that while fourth quarter results are not yet available, the company expects its fourth quarter 2009 revenue per available room (REVPAR) for comparable systemwide hotels outside North America will have declined 14 to 16 percent on a constant dollar basis, consistent with the company's outlook disclosed in a press release on December 8, 2009.

Further, Marriott expects comparable systemwide REVPAR inside North America will have declined 13 to 14 percent, somewhat better than prior guidance. Prior guidance for North America initially outlined in a press release on October 8, 2009 and reiterated in the December 8, 2009 release assumed a 13 to 16 percent REVPAR decline for the fourth quarter of 2009 for comparable systemwide hotels in North America.

In his blog yesterday, Marriott International's chairman and chief executive officer J.W. Marriott, Jr. (top right photo) discussed his optimism for the economy and Marriott as the New Year begins.

Speaking of REVPAR trends, Mr. Marriott said, "For Marriott, the fourth quarter looked better than we expected outside North America, while things in the U.S. and Canada were also a little better. Leisure travelers are responding to the terrific values we're offering. We've also seen business travel and large meetings start to pick up, which is big for our industry."

Additional information will be available when Marriott discloses its fourth quarter earnings on February 11, 2010.

Sunstone updates RevPAR, plans to deed back 13 hotels

SAN CLEMENTE, CA—Hotelnewsnow.com reports Sunstone Hotel Investors, Incorporated (NYSE: SHO) said it expects big declines in revenue per available room for the fourth quarter and year, and that it will deed back 13 of its hotel to lenders.

The company said RevPAR for the quarter is expected to be US$97.9 million, down 14.1 percent, and that full-year RevPAR will decline by 18.5 percent to US$102.7 million.

In addition, the company was unable to amend loan terms on three of its hotel loans and will deed the loans back to lenders. The company will deed back 11 hotels to Massachusetts Mutual Life Insurance Company, and will also give back the Renaissance Westchester (top left photo)  and Marriott Ontario Airport. Total value of the loans is US$300.7 million.

“We are steadfast in our resolve to do what’s best for stockholders,” Arthur Buser, president and CEO, said in a statement. “Our objective is to outperform, and we believe that by being nimble, well-capitalized and decisive we will continue to create significant long-term shareholder value."

Grubb & Ellis Commercial Florida’s Paula Buffa Named Woman of Influence in Florida Real Estate

 

TAMPA, Fla. --- Paula Buffa, (top right photo) RPA, CCIM, senior vice president of the Office Group at Grubb & Ellis Commercial Florida in Tampa, 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.

Buffa, who has more than 24 years of experience as a commercial real estate executive, was selected from dozens of reader nominations as one of the 20 most influential women statewide in commercial real estate during the Second Annual Women of Influence competition promoted by the publication to spotlight the accomplishments of key players. She was among five selected from the Tampa Bay area.

A multiple recipient of the Co-Star Power Broker, Buffa was also named one of the top 20 women in Florida commercial real estate by Florida Real Estate Journal in 2005 and formerly served as president of the Florida Gulfcoast Commercial Association of Realtors and the Tampa Bay Chapter of Commercial Real Estate Women (CREW). Buffa currently serves as president of the Westshore Alliance in Tampa.

Jeffrey Sweeney, (bottom left photo)  SIOR, president of Grubb & Ellis Commercial Florida in Tampa, Orlando and Melbourne, said Buffa is one of the most widely recognized commercial real estate brokers in the Tampa Bay region.

“Paula Buffa is a tremendous asset to Grubb & Ellis Commercial Florida,” Sweeney said. “She is one of the most knowledgeable commercial real estate brokers in Florida with a client base across the U.S.,” he said.

Contacts:

Paula Buffa, CCIM, RPA 813-830-7887
Jeffrey Sweeney, SIOR President 407-481-5387
Larry Vershel Communications 407-644-4142

Vice Presidents Named at The Bainbridge Companies

WELLINGTON, FL – The Bainbridge Companies, a fully-integrated group of multifamily real estate companies, have promoted two people to key leadership roles.

They are:
• Seth Kalinsky, (top right photo) Regional Vice President for the Mid-Atlantic Region, based in Herndon, VA.
• Jared Miller, (top left photo) Vice President of Marketing, based in Wellington, FL.

Kalinsky is now responsible for all property operations for the entire Mid-Atlantic region encompassing Washington D.C., Virginia and Maryland.

“Seth has overseen a large portfolio of properties with extensive renovation programs,” said Kevin Sheehan, (middle right photo) President of Property Operations for The Bainbridge Companies. “He has also established excellent relationships with the asset managers and helped put Bainbridge on the map in the Mid-Atlantic market.”

Kalinsky is active with the National Apartment Association, where he earned a Certified Apartment Manager (CAM) designation, and the Property Management Association. He was formerly a Regional Manager. Before joining Bainbridge, he held leadership positions with Grady Management and Equity Residential Management. He graduated with a degree in Residential Property Management from Virginia Tech.

Miller, considered one of the country's leading experts on Web-based multifamily marketing and interactive solutions, is responsible for the marketing, branding and online initiatives for Bainbridge’s growing management portfolio. Additionally, he plays an integral role in the development of third party fee management relationships.

"In the two years Jared has been with us, he has been a driving force in transforming our marketing strategy,” Sheehan said. “He has re-launched our online marketing platform and company brand and implemented a variety of improvements and unique positioning strategies that increased occupancy, while dramatically reducing our marketing costs.”

Miller’s experience includes top marketing positions with RedPeak Properties in Denver and Lane Company in Atlanta. He is a regular speaker at industry conferences including Multi-Housing World, MultifamilyPro’s Brainstorming Sessions and the Apartment Internet Marketing Conference.

Founded in 1993, The Bainbridge Companies are a fully-integrated family of real estate companies engaged in the development, construction, management, acquisition and disposition of residential and commercial real estate.

 With more than 100 years of combined experience, the Bainbridge principles have developed, redeveloped, and/or repositioned more than 35,000 multifamily units.

he firm’s full service real estate platform includes asset and property management, leasing, sales, marketing, renovation, construction, and development. Based in Wellington, Florida, it also has offices in North Carolina and the Washington, D.C. metro area.

Contact: Terri Thornton, 404-687-8760, 404-932-4347 (Cell) , http://www.territhornton.com/, www.twitter.com/Ttho