New Wyndham Hotel Opens in Philadelphia Market

PARSIPPANY, N.J. (June 16, 2010) – Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation (NYSE:WYN), today announced its expansion in the Philadelphia area with the opening of the 308-room Wyndham Garden® Hotel Philadelphia Airport.

Located just three miles from Philadelphia International Airport, the Wyndham Garden Hotel Philadelphia Airport provides business and leisure travelers with convenient access to the city’s main transportation hubs as well as the historic sights and attractions downtown Philadelphia has to offer.

The hotel is also a perfect fit for sports fans, located less than 10 miles from the city’s major sporting venues including Lincoln Financial Field, Citizens Bank Park and the Wachovia Center.

The hotel, which is owned by Majestic Holdings LLC and managed by Marshall Hotels & Resorts, is undergoing renovation of its public spaces and guestrooms.

“Philadelphia is a strong hotel market and one of the liveliest cities for travel in the Northeast,” said Jeff Wagoner, (top right photo)  president of Wyndham Hotels and Resorts.

 “With the addition of Wyndham Garden Hotel Philadelphia Airport to our growing portfolio of properties in key travel markets, business and leisure travelers alike will have another opportunity to experience the personalized service and style of the Wyndham brand.”

The hotel’s spacious guestrooms feature complimentary high-speed Internet access, 32-inch, flat panel LCD televisions and in-room coffee makers, as well as granite countertops, Speakman shower heads and TrueBlue® Spa Bath & Body Works® amenities. Wyndham’s signature BeWell® bedding, large work desks and ergonomic chairs provide guests with comfort and convenience during their stay.

Contact: Kathryn Zambito, +1 (973) 753-6590, kathryn.zambito@wyndhamworldwide.com

Monmouth Real Estate Investment Corp. Announces New Acquisition

FREEHOLD, NJ.  /PRNewswire-FirstCall/ -- Monmouth Real Estate Investment Corporation (NYSE:MNR) has announced the acquisition of a 112,784 square foot industrial building located in the Lakemont Business Park at 3058 Lakemont Boulevard, York County, Ft. Mill, South Carolina, at a purchase price of approximately $12,600,000.

The property is net-leased through September 30, 2019 to FedEx Ground Package System, Inc., a Delaware corporation.

The building was constructed in 2009. Darren Sides, Porthaven Partners LLC, acted as advisor to MREIC in this transaction.

Eugene W. Landy, President, commented, "We are very pleased to announce this high quality acquisition. This property is ideally located in close proximity to the Charlotte Douglas International Airport.

"The building also has expansion capabilities in excess of 50%. With this acquisition, our gross leasable area is now over 7 million square feet."

Monmouth Real Estate Investment Corporation, which was organized in 1968, is a publicly-owned real estate investment trust specializing in net-leased industrial properties. The Company's portfolio now consists of sixty-two industrial properties and one shopping center located in twenty-five states. In addition, the Company owns a portfolio of REIT securities.

Contact: Susan Jordan, +1-732-577-9996

MBA Report Shows Economic Weakness Continues to Weigh on Commercial Mortgage Performance

WASHINGTON, DC (June 16, 2010) - Delinquency rates continued to increase in the first quarter for all commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report.

The delinquency rate for loans held in CMBS is the highest since the series began in 1997. Delinquency rates for other groups remain below levels seen in the early 1990's, some by large margins.

Between the fourth quarter 2009 and first quarter 2010, the 30+ day delinquency rate on loans held in commercial mortgage-backed securities (CMBS) rose 1.54 percentage points to 7.24 percent.

The 60+ day delinquency rate on loans held in life company portfolios increased 0.12 percentage points to 0.31 percent. The 60+ day delinquency rate on multifamily loans held or insured by Fannie Mae rose 0.16 percentage points to 0.79 percent.

The 60+ day delinquency rate on multifamily loans held or insured by Freddie Mac increased 0.05 percentage points to 0.24 percent. The 90+ day delinquency rate on loans held by FDIC-insured banks and thrifts rose 0.32 percentage points to 4.24 percent.

"Weakness in the economy has continued to weigh on commercial properties, which in turn weighs on the mortgages they back," said Jamie Woodwell, (top right photo)  MBA's Vice President of Commercial Real Estate Research. "Economic growth, specifically in areas of jobs and consumer spending, will be key to stabilizing the commercial property and mortgage markets going forward."

Construction and development loans are not included in the numbers presented here, but are included in many regulatory definitions of 'commercial real estate' despite the fact that they are often backed by single-family residential development projects rather than by office buildings, apartment buildings, shopping centers or other income-producing properties.

The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae and Freddie Mac. Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.

The analysis incorporates the same measures used by each individual investor group to track the performance of their loans. Because each investor group tracks delinquencies in its own way, delinquency rates are not comparable from one group to another.

Based on the unpaid principal balance of loans (UPB), delinquency rates for each group at the end of the first quarter were as follows:

. CMBS: 7.24 percent (30+ days delinquent or in REO);
. Life company portfolios: 0.31 percent (60+days delinquent);
. Fannie Mae: 0.79 percent (60 or more days delinquent)
. Freddie Mac: 0.24 percent (60 or more days delinquent);
. Banks and thrifts: 4.24 percent (90 or more days delinquent or in non-accrual).

Contact:  Carolyn Kemp, (202) 557-2727, ckemp@mortgagebankers.org