Arbor Closes $50M Fannie Mae DUS® Loan on Broadway Square Apartments in Houston, TX

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $50,100,000 loan under the Fannie Mae DUS® product line to purchase the 2,469-unit complex known as Broadway Square Apartments (above photo) in Houston, Texas. Post Investment Group, LLC acquired the 69-acre property from the estate of Houston developer Harold Farb.

The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.65 percent. The loan was originated by Alex Kaushansky (photo at right), Director, in Arbor’s full-service New York City lending office.

“Arbor was pleased to have the opportunity to provide unmatched competitive terms within the short timeline given for this transaction, and look forward to continuing our business relationship with this first-time borrower,” said Kaushansky.

“Broadway Square will be a great addition to our current Texas holdings and gives us a strong presence in one of the nation's preeminent real estate markets,” said Jason Post, President of Post Investment Group, LLC. “Arbor’s ability to rapidly turn around this substantial transaction for a new borrower makes all the difference when deciding on using a lender for future deals.”

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/

GVA Advantis' Lauren Geller Joins Leasing Team for Newly renamed Harbourside Building in Clearwater, FL

TAMPA, FL- GVA Advantis is pleased to announce that Lauren Geller, (top right photo) associate of office services, has joined Ron Berglund,(top left photo) director of office services, on the leasing team of the Harbourside Building in Clearwater. Previously known as the Cay Clubs Building, the building is returning to its original name in a recent decision by the building owner, Harbourside Development LLC, a Florida limited liability company based in Hallandale, Florida.

The Harbourside Building is a six-story, 153,026-square foot Class A property located in Clearwater, Pinellas County, Florida. Built in 1987, the building is located at 18167 U.S. Highway 19 North and Belleair Road in the Bayside submarket and is exclusively leased and managed by GVA Advantis.

Recent lease transactions in the Harbourside Building include a 15,093-square foot, ten-year lease renewal and expansion with EmCare of Florida, Inc., a 9,250-square foot lease renewal with Bank of America, N.A. and a 5,244-square foot lease renewal with Washington Mutual Bank. Other well-known tenants who occupy Harbourside include Marine Max and UBS Paine Webber.

Contact:

Lisa Hyde
Director of Marketing
Advantis Real Estate Services Company
3000 Bayport Drive, Suite 100
Tampa, Florida 33607
Tel 813.342.4752
Fax 813.342.4004
E-mail Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

Southern Commercial Real Estate Advisors Complete 16,982-SF Lease Renewal in Orlando

ORLANDO, FL.(March 17, 2008) Principals William “Bo” Bradford, CCIM, SIOR and Tom McFadden SIOR of Southern Commercial Real Estate Advisors completed a 16,982 square foot lease at 2805 Ace Road, Orlando. The fully leased warehouse building is home to tenant Circle L Roofing, Inc. Bradford and McFadden represented the landlord, JB Carrie Properties.

Contact:
Celeste MacKenzie
Production Assistant
Southern Commercial Real Estate Advisors, LLC
20 N. Orange Ave.
Suite 605
Orlando, FL 32801
321.281.8503 Direct
321.281.8519 Fax
http://www.southerncommercialre.com/

University Corporate Center 20,800-SF Lease Renewal by Southern Commercial

ORLANDO, FL--Principals Tom McFadden SIOR and William “Bo” Bradford, CCIM, SIOR of Southern Commercial Real Estate Advisors have completed a 20,800± square foot lease renewal at University Corporate Center (top photo).

The five year renewal was for tenant Indra Systems, Inc, who was represented in the deal by CNL Commercial. Southern Commercial represented the landlord, New Jersey based Denholtz Associates.

Southern Commercial Real Estate Advisors, LLC (d/b/a Southern Commercial) is a commercial real estate firm focusing on office and industrial properties in Florida, and in Central Florida in particular. William “Bo” Bradford, Jr., CCIM, SIOR (photo at left) and Tom McFadden,(photo at right) SIOR are founding principals of the company and have combined industry experience in excess of 38 years. Since founding their brokerage team in February of 2002, they have completed over 300 commercial real estate transactions valued at more than $230 million dollars. The company presently handles 4.4 million square feet of office and warehouse space.

Media Contact:

Celeste MacKenzie

Southern Commercial Real Estate Advisors
321-281-8503

20 N. Orange Avenue, Suite 605

Orlando, FL 32801
cmackenzie@southercommercialre.com # #

NAI Realvest Organizing Commercial Facilities Development Group to Focus on Development Opportunities Throughout Florida

MAITLAND, FL.--- NAI Realvest, which has developed industrial facilities that total more than 1,000,000 square feet of industrial and office-warehouse space in the Orlando region, is organizing a commercial real estate development group to seek specialized development opportunities throughout the state.

George Livingston, chairman of NAI Realvest, said the new development company will be named Florida CommerCenters.

“Demand for well-suited industrial and office-warehouse facilities is high throughout Florida as commercial development catches up to years of strong residential and retail growth,” said Livingston.

“We foresee increasing long term demand for industrial / office-warehouse facilities in select Florida markets and this niche field represents a substantial opportunity for us,” Livingston said.

Rebecca York, (photo top left) who heads NAI Realvest’s Capital Markets division and served as the firm’s chief operating officer, will be president of Florida CommerCenters.

Paul P. Partyka, (photo top right) who joined NAI Realvest seven years ago and currently serves as managing partner and principal of the firm, will serve as NAI Realvest’s chief operating officer.

For more information, contact:

George Livingston, Chairman NAI Realvest 407-857-9989 glivingston@realvest.com
Rebecca York, President, Florida CommerCenters, 407-875-5990, ryork@flcommercenters.com Paul P. Partyka, Managing Partner NAI Realvest, 407-875-9989 ppartyka@realvest.com
Larry Vershel, Larry Vershel Communications, 407-644-4142

NAI Realvest Negotiates $1.146 Million Sale Price for 13 Acres of Development Land in Poinciana Office & Industrial Park in Osceola County

ORLANDO, FL – NAI Realvest recently negotiated the sale of 13 acres of industrial development land located in the Poinciana Office and Industrial Park at Poinciana Blvd. and U.S. Hwy. 17-92 in Poinciana, Osceola County.





NAI Realvest Principals Robert
Blackwell, (right middle
photo) SIOR and Michael Heidrich (left photo) negotiated the transaction representing the seller Avatar Properties, Inc. of Coral Gables.

Chalifoux Commercial Park, LLC a Kissimmee-based commercial development company, paid $1,146,400 for a portion of tract DD-3 at Poinciana. The buyer plans to use the land for development of a mixed-use project along with a previous 23-acre purchase of an adjacent tract handled the end of last year by Heidrich and Blackwell.

For more information, please contact:
Robert Blackwell or Michael Heidrich, NAI Realvest, 407-875-9989
rblackwell@realvest.com, mheidrich@realvest.com;
Janice Paiano, Marketing Director, NAI Realvest , 407-875-9989 jpaiano@realvest.com;
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Realvest Development Acquires 39.5-Acre Parcel for Development of Bartow CommerCenter

MAITLAND, FL – Realvest Development, a division of Realvest Holdings, recently acquired a 39.5-acre site at 91 Mine Rd. in Bartow for $2.25 million.

George Livingston, (photo at left) chairman, associate Drew Saphos, and Christie Alexander, (photo top right) a principal at NAI Realvest, negotiated the sale. Overkill Hill Farms, a Lakeland firm, was the seller.

Livingston said Realvest Development plans to develop and manage a regional industrial facility on the site. Bartow CommerCenter will feature a total of some 400,000 square feet of industrial space that will include facilities for lease and for sale.

For more information, please contact:

George Livingston, Chairman, Realvest Holdings 407-875-9989 glivingston@realvest.com
Christie Alexander, Principal NAI Realvest 407-875-9989 calexander@realvest.com
Drew Saphos, Associate, NAI Realvest 407-875-9989 dsaphos@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications Inc., 407-644-4142

HFF Secures Refinancing for Doubletree Hotel Pittsburgh Airport

PITTSBURGH, PA – The Pittsburgh office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a refinancing for the Doubletree Hotel Pittsburgh Airport in Pittsburgh Pennsylvania. (top photo)

Working exclusively on behalf of Millcraft Industries, HFF managing director Mark Popovich placed the loan with Lydian Trust Company.

The Doubletree Hotel Pittsburgh Airport is located at 8402 University Boulevard approximately six miles from the Pittsburgh International Airport and close to downtown. The property has 135 guest rooms and 14,000 square feet of meeting and banquet space. Hotel amenities include a 24-hour complimentary airport shuttle, business center, indoor heated pool, fitness center and Jacksons Restaurant-Rotisserie-Bar.

Millcraft Industries Real Estate Division is a multi-million dollar operation that has participated

and directed a variety of real estate ventures including industrial properties, commercial office buildings, golf course communities and residential developments.

Contacts:

Laurie Fish McDowell
Associate Director HFF

One Post Office Square, Suite 3500

Boston, MA 02109
tel 617.338.0990

fax 617.338.2150

http://www.hfflp.com/

Mark Popovich

Hff Managing Director

412 281 8714

mpopovich@hfflp.com
lmcdowell@hfflp.com

Arbor Closes $3,500,000 Fannie Mae DUS® Loan on Urbane on Washington in Royal Oak, MI

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,500,000 loan under the Fannie Mae DUS® product line to refinance the 39-unit complex known as Urbane on Washington in Royal Oak, MI.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent.

The loan was originated by Michael Jehle, (top left photo) Midwest Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The owners of this property had spent a considerable amount of money renovating and re-leasing this building after acquisition,” said Jehle. “Once completed, Arbor was able to take out their short-term floating rate debt with a very attractive long-term fixed rate, which was exactly what they wanted.”

DUS and 3MaxExpress are registered marks of Fannie Mae

Contact
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

http://www.arbor.com/

Ingrid Principe

Tel: (516) 506-4298

Arbor Closes 1,180,000 Fannie Mae 3MaxExpressÒ Loan for 485 Cumberland Avenue in Portland, ME

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,180,000 loan under the Fannie Mae 3MaxExpressÒ product line to refinance the 25-unit complex known as 485 Cumberland Avenue in Portland, ME.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.18 percent.

The loan was originated by John Edwards Director, in Arbor’s full-service Boston, MA lending office. “This financing opportunity represents the second loan we closed with this client,” said Edwards. “Once again, this is an example of the importance we place on repeat business and we look forward to continuing our business relationship with this client.”

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 marks of Fannie Mae

Contact:

Arbor Commercial Mortgage, LLC

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

http://www.arbor.com/

Ingrid Principe

Tel: (516) 506-4298

Marcus & Millichap Sells Two Hotels in San Diego for $23.9M

SAN DIEGO, CA--Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the Quality Suites and Holiday Inn Express, (photo above) totaling 202 rooms, in San Diego. The sales price of $23.8 million represents $117,821 per room.

Ben Tashakorian, a senior associate in Marcus & Millichap’s San Diego office, and Alvin Mansour, (photo at right) a senior director of the firm’s National Retail Group in San Diego, represented the seller, Mira Mesa Hotels LLC, and the buyer, JCK Hospitality LLC.

“This new owner has acquired two top-tier hotels centrally located off Interstate 15 in beautiful Mira Mesa, an exclusive neighborhood within San Diego,” says Mansour.

Located at 9880-9888 Mira Mesa Blvd., the hotels are situated directly adjacent from each other near the heavily populated business districts of Miramar, Scripps Ranch, Sorrento Mesa and Poway. The hotels are just 1.7 miles from the Miramar Air Station, a refuge for several traveling service men and their families, and 17.8 miles from San Diego’s International Airport.
The hotels boast a 2,500-square foot banquet hall, 1,500-square foot meeting room, swimming pool, whirlpool and workout room.

Contact:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

CB Richard Ellis Sweeps Central Florida NAIOP Brokerage Awards

ORLANDO, FL - CB Richard Ellis, worldwide leader in commercial real estate services, swept the brokerage awards for the third year in a row at the Central Florida NAIOP Award Ceremony held at SeaWorld on February 28, 2008.

David Murphy, (right top photo) Senior Vice President with the Orlando office was named Industrial Broker of the Year 2007, for the fifth year in a row. Murphy was recently named one of the top 200 brokers in North America for CB Richard Ellis and has been recognized as one of the top industrial producers in the company.

Ron Rogg, (photo top left) Executive Vice President with the Orlando office, received the Investment Properties Broker of the Year 2007 award as well as Largest Sale of the Year award for the $90 million, One Orlando Center project. This is Ron's third year receiving a NAIOP award. In 2005, he was named Office Broker of the Year and 2006 Investment Properties Broker of the Year. This marks the third year that Rogg was named as one of CBRE's top 200 brokers in North America. Also this year, Rogg was named to the prestigious Coldwell Circle of CBRE. This group represents the top 3 percent of all CB brokers nationwide.

John Gilbert, (photo at left) Senior Vice President, was named Office Broker of the Year 2007. This is Gilbert's first year to receive an award. Gilbert has completed over 500 sale and lease transactions totaling over $500 million in value.

"All of us at CB Richard Ellis Orlando are proud of the industry recognition that David, John and Ron have received," says Bill Moss, (photo at right) Senior Managing Director for Florida. "They are richly deserving of these awards that honor the "best of the best" of the Central Florida commercial brokerage industry."

Contacts:
Jessica Wilhoite
407.839.3158
jessica.wilhoite@cbre.com

Bill Moss
407.404.5000

bill.moss@cbre.com

Palta Promoted to Senior Associate

ORLANDO, FL - CB Richard Ellis, worldwide leader in commercial real estate services, is pleased to congratulate Bobby Palta (photo top right) on moving forward to the Senior Associate level.

February marks Palta's 3-year anniversary with CB Richard Ellis and his 10th year in commercial real estate. Palta specializes in client acquisition & disposition of land, implementation of retail expansion strategies & tenant representation, as well as project sales & leasing.

Palta's current Listings with availabilities include the Colonial Town Center on West Colonial Drive in Orlando, the Village Marketplace at Maguire Road and West Colonial Drive in Ocoee, the Legacy Place development at Lake Underhill Road & Rouse Road in East Orlando, (photo at left) the Panda Express Plaza on US 441 & Rolling Acres Road in Lady Lake, the Panda Express Plaza along US 441 & Eudora Road in Mount Dora, and the University Plaza at University Blvd & Technological Ave in East Orlando.

Some of Palta's active Tenant clients include Washington Mutual, Pei Wei, Massage Envy, CitiFinancial, Monkey Joe's, Marble Slab Creamery and The Athlete's Foot. Since being with CB Richard Ellis, Palta has completed over 59 lease and sale transactions totaling over $47.4M in value.

"Although 2008 will present challenges to owners and users alike, those who are well-positioned to take advantage of the many opportunistic deals out there will be glad they did," says Palta.

"Orlando has outperformed most of the country during the boom period. The resilient segments of our local economy such as software, simulation, defense, tourism, medical and emerging bio-tech should keep job growth strong. That combined with a limited amount of new supply should help Central Florida retail to remain solid through the year with a steady upturn heading into 2009."

Contacts:

Jessica Wilhoite
407.839.3158
jessica.wilhoite@cbre.com

Bobby Palta
407.839.3124
bobby.palta@cbre.com

Apartment Realty Advisors Retained to Handle Sale of Baldwin Park's Last Multifamily Development Site

WINTER PARK, FL – The Florida headquarters of Apartment Realty Advisors announces that it has been retained by Bumby Development Group, Inc. (“Bumby”) to handle the sale of an irreplaceable four-acre multifamily parcel located within the nationally acclaimed Baldwin Park development (photo above0 in Orlando.

Marc deBaptiste, principal, Kevin Judd, (photo below at left) senior vice president, and Dan Gasti, vice president, are representing Bumby in the disposition of the land, which is one of the most significant development opportunities in the state of Florida.

The property is located across the street from the 188-acre Lake Baldwin and adjacent to the thriving Village Center’s collection of upscale restaurants, shops and office space. The 4.04-acre site is approved for 178 units at a residential density of 44.06 units per acre and represents the last multifamily development site in Baldwin Park.

“This site represents an unprecedented opportunity to develop multifamily apartment homes in an irreplaceable, upscale, high barrier-to-entry location,” said Judd.

With approvals already in place, utilities available to the site, and primary and arterial roads in place, this site represents one of the most desirable parcels of land in the Orlando market. The site is also currently zoned for top-rated, sought after Orange County schools.

Baldwin Park, a traditional neighborhood development (TND) that rose on the site of the former Orlando Naval Training Center, will contain a total of 700,000 square feet of office space, 200,000 square feet of retail space, 2,900 townhomes, and up to 1,100 single family homes upon completion.

The mixed-use development, located only two miles from downtown Orlando, one mile from Winter Park and eight miles from Orlando International Airport, also contains 215 acres of parks, two large lakes, and numerous recreational facilities for its residents.

Recognized by Urban Land Institute as one of America’s top communities, Baldwin Park has also received Florida’s top sustainable community award and the National Audubon Society’s “Building with Trees” award.

Bumby Development Group is an affiliate of Penco, a national multi-family renovation contractor specializing in construction and project management, interior and exterior renovation, catastrophe restoration and new construction.

About Apartment Realty Advisors (ARA)
Apartment Realty Advisors (ARA) is the largest privately held, full-service investment advisory brokerage firm in the nation that focuses exclusively on the multihousing industry. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions.

ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in $7.7 billion in real estate transactions in 2007.

For detailed information on ARA’s extensive multihousing investment services, visit http://www.arausa.com/ The company’s Florida headquarters, which is located at 777 Yamato Road, Suite 140, Boca Raton, Florida 33431, concluded sales of over $2.5 billion in 2006 and 2007. For more information, call (561) 988-8800 or visit their Web site at http://www.arausa.com/.

ARA Contacts:

Kevin Judd, Senior Vice President

407) 975-6540, ext. 101
judd@ARAusa.com

Marc deBaptiste, Principal
( (561) 988-9800, ext. 104
debaptiste@ARAusa.com

Lisa M. Rossetti
Director of Research
777 Yamato Road, Suite 140
Boca Raton, FL 33431
561.988.8800 Ext. 120
561.988.8810 FAX
lrossetti@ARAusa.com

www. ARAusa.com

Marcus & Millichap Capital Corp. Arranges $7.5M

COCONUT CREEK, FL – Marcus & Millichap Capital Corporation (MMCC) has arranged a $7.5 million fixed-rate loan to refinance Westcreek Plaza, (aerial photo at left) a 38,000-square foot retail center located at 4800 W. Hillsboro Blvd. in Coconut Creek.

Michael McCleary, (photo below at right) associate director of the firm’s Fort Lauderdale office, arranged the financing for Westcreek Plaza. “Many investors are assessing the current state of the market and choosing to optimize their equity by refinancing as a hedge against short- to medium-term volatility in cap rates,” states McCleary. “A number of our clients are view such transactions as an opportunity to access capital for attractive future buying opportunities.”

“Many of our clients are unaware of just how drastically the commercial lending pendulum has swung,” says McCleary. “In today’s market, it is essential to work with a financial intermediary that has a proven track record and comprehends the intricacies of a given deal.”

Financing for the property was provided by a commercial lender at 117 basis points over the five year swap rate with a five-year term and 30-year amortization. Loan-to-value for this transaction was 75 percent.

Contacts:

Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/