Wednesday, February 27, 2008

Jay Porterfield Appointed Director in Arbor’s Dallas, TX Office

UNIONDALE, NY (February 27, 2008) - Arbor Commercial Mortgage announces the appointment of Jay Porterfield (photo top right) to Director in Arbor’s Dallas, TX office. Mr. Porterfield will originate Fannie Mae and FHA transactions throughout the Southwest. He reports to Ken Fazio, Vice President, Sales Management.

Prior to joining Arbor, Mr. Porterfield served as a Senior Vice President at Countrywide Commercial Real Estate. In this position, he managed the 50-person Plano, TX regional office with a territory that included Texas, Louisiana, Oklahoma, Colorado and Nebraska.

Before Countrywide, Mr. Porterfield was a Director for LaSalle Bank Real Estate Capital Markets (ABN AMRO), where he ran the Dallas office for LaSalle’s CMBS lending group. He originated $270,000,000 of fixed-and floating-rate loans, negotiated loan applications and documents with borrowers, brokers and attorneys. Additionally, he has held posts at General Electric Commercial Finance Real Estate and Archon Financial (A Goldman Sachs Company).

Mr. Porterfield earned both his Master of Science in Economics and a Bachelor of Business Administration in Accounting and Finance from Texas A&M University-Commerce. He resides in Murphy, TX.

Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services over $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.

Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust (REIT), formed to invest in real estate bridge and mezzanine loans, preferred equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, and has full-service lending offices throughout the United States.

Contact:
Ingrid Principe
Marketing Specialist
Arbor Commercial Mortgage, LLC
333 Earle Ovington Boulevard, Suite 900
Uniondale, NY 11553

Phone: 516-506-4298
Fax: 516-542-2555
Email: iprincipe@arbor.com
http://www.arbor.com/
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Posted by Alex at 10:25 AM 0 comments

HFF Named to Market Sale of Dyer Crossing in Dyer, IN

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale Dyer Crossing, (photo top right) a 95,083-square-foot, grocery-anchored retail center located in southeastern suburban Chicago in Dyer, Indiana.

HFF managing director Paul Barile and director Janice Sellis will lead the investment sales team on behalf of a local seller. The property is being offered without a formal asking price and subject to the assumption of existing debt. In addition to the existing center, buyers will have the option to purchase an adjacent land parcel that can accommodate the development of additional retail space.

Completed in 2004, Dyer Crossing has 95,083 square feet of retail space plus two outlots improved with 10,600 square feet and parking for 990 cars. The property is 96% occupied by tenants including anchor Jewel-Osco (subsidiary of SuperValu) on a long-term lease through 2024 as well as national and credit tenants such as Chili’s, Starbucks, Sherwin Williams, Harris Bank and Blockbuster. Dyer Crossing is located at 801 – 907 US Highway 30 in the southeastern Chicago suburb of Dyer, Indiana.

“Dyer Crossing is a great investment due to its strong, long-term anchor tenant, national tenancy and outstanding demographics in the surrounding area, which include an average household income in excess of $80,000,” said Barile.

Contacts:
Laurie Fish McDowell
HFF Associate Director
One Post Office Square
Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150

Paul Barile
HFF Managing Director
312 528 3650
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Posted by Alex at 9:06 AM 0 comments

HFF Arranges $4M Financing for Catskill, NY Condominium Community

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged $4 million in financing for Catskill Creek Condominiums at Water’s Edge, a 24-unit condominium community in Catskill, New York. (photo top right)

Working on behalf of Tower Management Service, L.P., HFF senior managing director Tom Didio and associate director Michael Klein placed the 24-month, adjustable-rate loan with Webster Bank. Tower Management currently owns and operates more than 2,000 multifamily units in 19 garden apartment communities throughout New York, New Jersey and Pennsylvania.

Catskill Creek Condominiums is located at 1 Marina Drive in Catskill approximately 30 miles south of Albany via Interstate 87. The gated community has three- and four-bedroom units that range in size from 1,500 square feet to 2,598 square feet and feature two and a half baths, one- or two-car garages, central air conditioning, a private balcony off the master bedroom and a rear patio.

Community amenities include a swimming pool and dock spaces at the confluence of Catskill Creek and the Hudson River. Approvals are in place to develop 10 additional townhomes. Tower Management Service, L.P. has engaged Weichert Realtors to market and sell the units on an exclusive basis.

Contacts:
Laurie Fish McDowell
Associate Director HFF
One Post Office Square,
Suite 3500
Boston, MA 02109
tel 617.338.0990
fax 617.338.2150

Thomas R. Didio
HFF Senior Managing Director
973 549 2000
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Posted by Alex at 8:35 AM 0 comments

National Retail Properties, Inc. Announces Offering of Convertible Notes


ORLANDO, FL /PRNewswire-FirstCall/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company"), has announced it intends to make a public offering of $200 million principal amount of convertible senior notes due 2028. As part of the offering, the Company expects to grant the underwriters an overallotment option to purchase up to an additional $30 million principal amount of notes.

The notes are registered under the Company's existing shelf registration statement filed with the Securities and Exchange Commission ("SEC"). (Kevin B. Habicht, chief financial officer, executive vice president and treasurer, photo top right)

The notes will be senior unsecured obligations of the Company and will be convertible, subject to various conditions, into cash and at the Company's option, cash, common stock or a combination thereof. The Company expects to use the net proceeds from the sale of the notes to repay borrowings under its credit facility and the remainder to fund future acquisitions and for general corporate purposes.

Citigroup Global Markets Inc., Banc of America Securities LLC and Wachovia Securities are the joint bookrunning managers for the proposed offering.

The exact timing and terms of the offering will depend on market conditions and other factors.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

When available, copies of the prospectus and the prospectus supplement, subject to completion, relating to these securities may be obtained from Citigroup Global Markets Inc., Banc of America Securities LLC and Wachovia Securities. You should direct any requests to Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013, by phone: 718-765-6732 or by fax: 718-765-6734, Banc of America Securities LLC, 9 W. 57th Street, New York, NY 10019, and/or to Wachovia Securities, 375 Park Avenue, New York, NY 10152.

You may also obtain a copy of the prospectus and the prospectus supplement, subject to completion, and other documents the Company has filed with the SEC for free by visiting the Commission's web site at http://www.sec.gov/.

NNN acquires, owns, invests in, manages and develops properties that are leased primarily to retail tenants under long-term net leases. As of December 31, 2007, NNN owned 908 Investment Properties, with an aggregate leasable area of 10.6 million square feet, located in 44 states.

For more information on the Company, visit http://www.nnnreit.com/.
SOURCE:
National Retail Properties, Inc.

Contact:
Kevin B. Habicht, (photo top right)
Chief Financial Officer
of National Retail Properties, Inc.,
+1-407-650-1230
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Posted by Alex at 7:58 AM 0 comments

Kempner Comments on Departure of Doug Duncan


WASHINGTON, D.C. -- Jonathan L. Kempner, (photo top left) President and CEO of the Mortgage Bankers Association (MBA) today issued the following statement on the departure of Senior Vice President and Chief Economist Doug Duncan (photo top right). Duncan announced today that he has accepted an offer to be Vice President and Chief Economist for Fannie Mae.

"Over the past 15 years, MBA has become one of the most trusted sources of economic analysis on the housing industry. Doug Duncan has been a major reason why. With his balanced and level-headed approach, Doug has become a household name for anyone trying to understand the dynamics of the real estate market. For that reason, he will of course be sorely missed.

"However, over those 15 years, Doug has built a smart and talented team that has driven MBA's growth and success in the data and research field. They have my full confidence and I don't expect MBA to miss a beat while we search for a successor.

"Personally, I am very excited for Doug and this new opportunity. At the same time, I lament losing his expertise and counsel on which we have come to rely. But MBA's loss is Fannie Mae's gain, and I am buoyed by the fact that America's housing industry will continue to benefit from Doug's talents."

Contact:
John Mechem
(202) 557-2924
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Posted by Alex at 7:40 AM 0 comments

Interstate Hotels & Resorts Reports Fourth-Quarter, Full-Year 2007 Results

ARLINGTON, Va., Feb. 27 /PRNewswire-FirstCall/ -- Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation's largest independent operator of full- and select-service hotels, today reported strong operating results for the fourth quarter and year ended December 31, 2007. The company's complete report may be obtained from Carrie McIntyre, senior vice president and treasurer, at 1- 703 387 3320.

Fourth quarter 2007 versus fourth quarter 2006 results included:
Total revenue--$58.6 million v. $41.6 million.
Net income--$6.8 million v. $10.8 million
Diluted earnings per share--21 cents v. 34 cents.
Adjusted EBITDA--$22.7 million v. $19.7 million.
Adjusted net income--$10.5 million v. $9 million.
Adjusted diluted EPS--33 cents v. 28 cents.


Full year 2007 versus full year 2006 results included:

Total revenue--$156 million v. $140.7 million
Net income--$22.8 million v. $29.8 million.
Diluted earnings per share--71 cents v. 94 cents
Adjusted EBITDA--$45.9 million v. $65 million.
Adjusted net income--$14.6 million v. $28.8 million
Adjusted diluted EPS--46 cents v. 91 cents.

"During the fourth quarter, we not only achieved impressive operating results, as evidenced by the 7.9 percent RevPAR increase on our six wholly- owned assets, we continued to execute on our growth strategy to selectively acquire wholly-owned hotels by purchasing the Sheraton Columbia Hotel in Maryland," said Thomas F. Hewitt, chief executive officer. (photo top left)

"In early 2005, we set out to diversify and stabilize our income streams," he said. "With the acquisition of the Sheraton Columbia, we have now reached our near-term target of generating 50 percent of our Adjusted EBITDA from whole ownership. Although we will remain opportunistic in seeking additional wholly-owned assets, we expect the majority of our dollars invested in owned assets in 2008 to come through value-added capital improvements at our existing hotels."

Hewitt said that the company will invest approximately $35 million to upgrade its owned hotels in 2008, including $27 million related to completion of the comprehensive $30 million renovation of the Westin Atlanta Airport and Sheraton Columbia hotels. Room renovations are underway at both hotels.

IHRContact:
Carrie McIntyre
Senior Vice President
and Treasurer
(703) 387-3320

Media Contact:
Julie Tullbane
Daly Gray Public Relations
T 703-435-6293
F 703-435-6297
julie@dalygray.com
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Posted by Alex at 6:49 AM 0 comments

Friday, February 22, 2008

Cambridge Provides $13.6M HUD 232 Insured Loan to Refinance Skokie Meadows Nursing Center

CHICAGO--A $13.6 million FHA-insured HUD loan has been provided by Cambridge Realty Capital Companies to refinance the Skokie Meadows Nursing Center, (photo top right) a combined 224-bed intermediate care and board and care facility in Skokie, Illinois.

Cambridge Chairman Jeffrey A. Davis said the property has 111 intermediate-care and 113 board and care units. The fully-amortized, 35-year term first mortgage was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, an FHA/MAP-approved HUD lender.

Davis said the borrower qualified for HUD's Section 223(a)7 funding program. The interest rate was not disclosed.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nation’s leading senior housing and healthcare debt and equity capital providers, closing more than 300 such transactions totaling more than $2.75 billion since then.

The company is one of the nation's leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender / borrower relationship and identify “ideal” capital solutions for worthy projects. The company has created four separate processes for customer groups that are designed to build and enhance long-term relationship potential and speed the way loans are processed and closed.

Programs include The Key To Capital™ for senior housing owners, The Navigator Experience™ for senior housing brokers and mortgage bankers, The Principal Lender Network™ for lenders who refer loans to Cambridge, and The Relationship Building Experience™ for various industry-related consultants, including lawyers and accountants.

The company has a regional office in New York, affiliate office in Los Angeles, and correspondent relationships nationwide. The firm also has established key origination relationships and a dozen or more Internet-based strategies.

Cambridge’s award-winning Web site, www.cambridgecap.com, provides monthly rate updates for its debt and equity capital programs. The company also publishes the bi-monthly e-PULSE electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.

For additional information, contact Cambridge at (312) 357-1601 or via e-mail at info@cambridgecap.com.

Contact:
Evan Washington
Phone: (312) 521-7603
Fax: (312) 357-1611
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Posted by Alex at 9:50 AM 0 comments

Thursday, February 21, 2008

TIAA-CREF Acquires The Park Evanston in Illinois

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announces that TIAA-CREF has purchased The Park Evanston, (photo top left) a 283-unit, 24-story, Class A multifamily high-rise in the heart of downtown Evanston, Illinois.


HFF senior managing director Matthew Lawton, managing director Marty O’Connell and directors Sean Fogarty and Janice Sellis led the investment sales team on behalf of the seller, The John Buck Company.


Approximately 10 miles north of downtown Chicago, The Park Evanston is located at 1630 Chicago Avenue, close to Lake Michigan, Evanston beaches and Northwestern University. Many shops and restaurants, Class A office, and both CTA and Metra train lines are only a few minutes walk from the property as well.


Completed in 1997, The Park Evanston offers luxury apartments with unobstructed views of Lake Michigan and downtown Chicago in addition to approximately 39,000 square feet of street level retail space that is leased to Whole Foods among other tenants. The property’s amenity package includes covered parking, a roof-top swimming pool and sundeck, a fitness center, a business center and a community room. The Park Evanston is currently 97% occupied.

“At TIAA-CREF, we use a long-term, consistent approach based on fundamental sector and geography analysis and local market knowledge to identify properties that we believe will help us achieve attractive risk-adjusted returns,” said Trevor Michael, managing director, US Acquisitions, TIAA-CREF Global Real Estate. “We are pleased to expand our investments in the Evanston area through adding The Park Evanston to our portfolio of commercial properties.”

The John Buck Company (JBC) is an innovative developer of office, high-rise residential, hotel and retail/entertainment properties. The company’s opportunistic development and acquisition strategies build solid value-added property fund portfolios that are positioned to outperform the general market. JBC is one of the largest management and leasing companies in the Midwest. The company has developed over 30 million square feet and oversees more than 10 million square feet of office space in the Chicago and New York metropolitan areas.

TIAA-CREF is a national financial services organization with more than $435 billion in combined assets under management (12/31/07) and is the leading provider of retirement services in the academic, research, medical and cultural fields. With an approximate $69 billion global portfolio of direct and indirect investments (12/31/07), TIAA-CREF is one of the largest institutional real estate investors in the nation.


Investments are both domestic – covering more than 40 states and the District of Columbia – and foreign – in Canada and Western Europe. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., Members FINRA, distribute securities products.

Contacts:
Matthew D. Lawton
HFF Senior Managing Director
312 528 3650
mlawton@hfflp.com

Laurie Fish McDowell
Associate Director HFF
lmcdowell@hfflp.com


One Post Office Square,
Suite 3500

Boston, MA 02109
tel 617.338.0990
fax 617.338.2150
http://www.hfflp.com/
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Posted by Alex at 12:40 PM 0 comments

Interstate Hotels & Resorts Forms Joint Venture with JHM Hotels to Operate and Invest in Hotels in India


Also Commits Funding to a Real Estate Investment Fund Dedicated to Investing in India

ARLINGTON, Va., February 21, 2008—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent operator of full- and select-service hotels, today announced that it has formed a 50-50 joint venture partnership with JHM Hotels to operate and selectively invest in hotels in India.
(H.P. Rama, founder and CEO, JHM Hotels, photo top right)

JHM Hotels is one of the nation’s largest independent developers and owners of hotels. The joint venture, named JHM Interstate Hotels India, will serve as Interstate’s platform for all hospitality-related activities in India, primarily focused on securing management agreements on existing and to-be-built hotels. The joint venture is establishing an office in New Delhi, India.

“The formation of this new management joint venture establishes a solid platform for our entry into India’s fast-growing lodging market,” said Thomas F. Hewitt, Interstate’s chief executive officer. “By combining this platform with our investment in a hotel real estate investment fund we have a robust pipeline of management contracts and a strong foundation for future expansion. In addition, the joint venture is actively sourcing other management opportunities throughout key markets in India.

“With Interstate’s international experience, depth of resources and strong relationships with all the major hotel brands, we believe our combined strength, knowledge and expertise will give us a competitive advantage in arguably the most underserved hotel market in the world,” said H. P. Rama, (photo top right) founder and chief executive officer of JHM Hotels.

In addition to the management platform, both Interstate and JHM have committed to invest in Duet India Hotels Limited, a U.K.-based, real estate investment fund dedicated solely to the investment of hotels in India. The fund has raised approximately $175 million in equity with anticipated total equity contributions in excess of $200 million. The fund’s mission is to develop approximately 25 hotels in India in the three- and four-star categories, targeted at business travelers and located in secondary and tertiary cities, as well as satellite townships outside major urban centers.

The fund is expected to invest in up to $800 million of total project volume over the next five years. Interstate and JHM will invest equal portions of a $12.5 million total investment to acquire an interest in Duet India Hotels Limited, as well as an interest in the fund’s asset manager, Duet India Hotels Asset Management Ltd. The fund has committed to providing JHM Interstate Hotels India the first opportunity to manage the hotels in which the fund invests.

For further information about the fund, contact Dilip Puri at dilip.puri@duetindiahotels.com.

Contacts:
Julie Tullbane
Daly Gray Public Relations
T 703-435-6293
F 703-435-6297
julie@dalygray.com

Carrie McIntyre
SVP, Treasurer
(703) 387-3320
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Posted by Alex at 12:12 PM 0 comments

NAI Realvest Negotiates Sale of Office Building for $793,800 in Winter Springs for New International Headquarters of Medical Transcription Firm

MAITLAND, FL --NAI Realvest has negotiated the purchase of a 3,400 square foot Class A office building at 1500 Town Plaza Court off SR 434 and Tuskawilla Rd. in Winter Springs (city photo at right). The purchase price was $793,800.00.

Paul P. Partyka, managing partner at NAI Realvest negotiated the transaction representing the buyer, Flannery Property Management, LLC based in Chuluota. Hendricks Investments, LLC of Winter Springs is the seller.

Partyka said Medware, Inc., a major international medical transcription firm will be moving its headquarters to the facility from Maitland.

For more information, contact:
Paul P. Partyka,
Managing Partner,
NAI Realvest
407-875-9989

Janice Paiano,
Marketing Director,
NAI Realvest
407-875-9989

Beth Payan or
Larry Vershel,
Larry Vershel Communications,
407-644-414
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Posted by Alex at 11:59 AM 0 comments

Laramar Group Acquires 694-Unit Waterford Lakes Apartments in Charlotte, NCProperty is 13th Fund Acquisition

CHICAGO and CHARLOTTE, N.C. /PRNewswire/ -- The Laramar Group, a fully-integrated real estate investment and management company, has acquired the Waterford Lakes Apartments, (photo top right) a 694-unit lakeside property in Charlotte, North Carolina, located at 8000 Waterford Lakes Drive.

Waterford Lakes is the thirteenth property acquisition for Laramar Group's Multifamily Value Fund, which launched in December 2006. "Waterford Lakes offers residents an ideal living situation: picturesque, resort-style residences located within walking distance of rapid transit, near local employment centers, shopping and major metropolitan areas," said Jeff Elowe, president of Laramar Group.

"With its lush surroundings and terrific locale, Waterford Lakes is a great addition to Laramar's portfolio, and an excellent way to round out the first year of the Multi-Family Value Fund. The South Boulevard corridor is experiencing strong growth spurred by a $400 million light rail project called the LYNX, which will connect south Charlotte from I-485 through the South End and into the Charlotte central business district."

Rail service began operation in late November 2007, and has already spurred significant upscale development within the immediate vicinity of Waterford Lakes.Prior to purchasing Waterford Lakes, Laramar had managed the 43-acre property for the previous owner. With a combination of one-, two- and three- bedroom apartments -- featuring Roman tubs, fireplaces, and garages or carports -- the property is centrally located, close to popular shops in Charlotte or nearby Pineville, as well as the South Park or Carolina Place malls, and the 77 and 485 Expressways.

"The acquisition of Waterford Lakes is in line with Laramar's strategy to purchase well-located properties and enhance their value through renovation and management," continued Elowe. In late 2006, Laramar closed the Laramar Multi-Family Value Fund, which focuses on acquiring value-add multi-family real estate assets throughout the country.

About Laramar

The Laramar Group, with corporate headquarters in Chicago, property management headquarters in Denver and a regional office in Palm Beach Gardens, Florida, is a fully integrated real estate investment and management company with more than 600 employees across the United States. Laramar and its predecessor have invested more than $1.75 billion throughout the United States.

For more information, visit http://www.laramarinvestor.com/ or http://www.laramargroup.com/

CONTACT:
Kiera Kelly,
+1-773-975-3538,
kkelly@chasepr.com, or

JulieChase,
+1-415-433-0100,
jchase@chasepr.com,
both of Chase Communications

The Laramar GroupWeb sites:
http://www.laramargroup.com/
/http://www.laramarinvestor.com/
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Posted by Alex at 11:31 AM 0 comments

Craig Macnab Appointed Chairman of National Retail Properties

Gershenson Joins Board; Hinkle Becomes Lead Director

ORLANDO, FL- –National Retail Properties, Inc. (NYSE: NNN) announces that Craig Macnab, Chief Executive Officer, has been appointed to the additional post of Chairman of the Board of Directors. Mr. Macnab succeeds Clifford R. Hinkle, who will remain on the board as lead director. The company also announced that Dennis Gershenson has been appointed as a member of the company’s board.

“We are grateful to Cliff for the many years of leadership he has provided NNN and look forward to his continued counsel. We are also very pleased to add a director of the quality of Dennis Gershenson,” Mr. Macnab said. “He has a broad range of experience in retail real estate and his sincerity and integrity will be valuable to the company.”

Mr. Macnab joined NNN in February 2004, sharpening the company’s investment focus on net‐leased retail concepts and growing the company to more than $2.5 billion in assets while doubling the portfolio to more than 900 properties.

Mr. Gershenson currently serves as the President and Chief Executive Officer and Chairman of the Board of Trustees for Ramco‐Gershenson Properties Trust, a real estate investment trust that owns, develops and manages shopping centers located primarily in the Midwest, Mid‐Atlantic and Southeast.

He is an undergraduate of Syracuse University and a Magna Cum Laude graduate of Wayne State University Law School. Mr. Gershenson currently serves on the Board of Directors of Hospice of Michigan, the Cranbrook Academy of Arts, the Metropolitan Affairs Coalition and Oakland Family Services. He is also an active member of the International Council of Shopping Centers (ICSC) and the National Association of Real Estate Investment Trusts (NAREIT).

National Retail Properties invests primarily in high‐quality retail properties subject generally to long‐term, net leases. As of December 31, 2007, the company owned 908 Investment properties in 44 states with a gross leasable area of approximately 10.6 million square feet. NNN is one of only 181 publicly traded companies in America to have increased annual dividends for 18 or more consecutive year.

Contact:
Christopher F. Barry
Vice President of Corporate Communications
(407) 265‐7348
Web site: www.nnnreit.com
Posted by Alex at 9:43 AM 0 comments

Meridian Capital Group Arranges $3.2M Financing for Mixed Use Hialeah Property

HIALEAH, FL - Meridian Capital Group has arranged a loan in the amount of $3,200,000 for a mixed use facility, consisting of self-storage and retail units, located at on W. 49th St in Hialeah, totaling 55,000 square feet.

(Hialeah city entrance photo at right)

Seth Grossman of Meridian’s Florida office negotiated to secure a rate of 6.25% over a 5-year term with a flexible prepayment structure.

The property was less then 50% occupied at closing but was considered highly valuable due to its prime location and future development potential. Meridian used one of its portfolio lenders to secure a loan able to meet the specific needs of the client.

Contact:
Meridian Capital Group, LLC
1 Battery Park Plaza
New York, NY 10004
Dani Sabesan:
dsabesan@meridiancapital.com
(212) 612-0109
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Posted by Alex at 9:25 AM 0 comments

Post Properties Announces Quarterly Dividends

ATLANTA (BUSINESS WIRE)---Post Properties, Inc.(NYSE: PPS), an Atlanta-based real estate investment trust, has announced quarterly dividends on its common stock of $0.45 per sharefor the first quarter of 2008. The Company's annual dividend rate is$1.80 per common share. The dividend is payable on April 15, 2008 toall common stock shareholders of record as of March 31, 2008.

Post also announced regular quarterly dividends for its 8.5percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8percent Series B Cumulative Redeemable Preferred Stock.

On its 8.5 percent Series A Cumulative Redeemable Preferred Stock,Post declared a regular quarterly dividend of $1.0625 per share forthe first quarter. The dividend is payable on March 31, 2008 to allSeries A preferred stock shareholders of record as of March 15, 2008.

On its 7 5/8 percent Series B Cumulative Redeemable PreferredStock, Post declared a regular quarterly dividend of $0.47656 pershare for the first quarter. The dividend is payable on March 31, 2008to all Series B preferred stock shareholders of record as of March 15,2008.

CONTACT:
Janie Maddox,
404-846-5056
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Posted by Alex at 8:12 AM 0 comments

Arbor Closes $2,075,000 Fannie Mae DUS® 3Max Express® Loan on Sunnyside Apartments in Fayetteville, NC

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,075,000 loan using Fannie Mae’s DUS® 3Max Express® program to acquire the 36-unit complex known as Sunnyside Apartments in Fayetteville, NC.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.58 percent.

The loan was originated by John Edwards, Director, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to finance a strong property to an established long-term local owner and operator in a stable rental market,” said Edwards.

Arbor Commercial Funding, LLC, Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.

Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in real estate-related bridge and mezzanine loans, preferred equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, and has full-service lending offices throughout the United States.

DUS and 3MaxExpress are registered trademarks of Fannie Mae.

Contact:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd,
Suite 900Uniondale, NY 11553

Ingrid Principe
Tel: (516) 506-4298
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Posted by Alex at 7:37 AM 0 comments
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