HFF Named to Market Sale of Development Site Adjacent to McCormick Place in Downtown Chicago

CHICAGO, IL, May 12, 2008--The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale 2222 South Indiana, a 78,000-square-foot land site (aerial photo above) in downtown Chicago, Illinois.

HFF senior managing director Matthew Lawton (top right photo) and director Daniel Kaufman will lead the investment sales team on behalf of the seller, McHugh Construction.

2222 South Indiana is a 1.8-acre development site located immediately adjacent to Chicago’s 2.2 million-square-foot McCormick Place Convention Center (photo at left below).

Situated directly west of the entrance to the McCormick Place West Building, the site is bounded by South Michigan Avenue, South Indiana Avenue, East Cermak Road and 23rd Street in close proximity to the Museum Campus, Soldier Field, Grant Park and Chicago’s central business district.

It is well-positioned as a hotel, residential and/or mixed-use development site.
“McCormick Place Convention Center is the largest convention facility in the United States attracting over two million trade and public show visitors per year.

The West Building expansion is adding 710,000 square feet of additional meeting space and is expected to generate more than 300,000 new hotel room bookings per year,” said Kaufman. “The 2222 South Indiana development site is an excellent opportunity for a large scale hotel-oriented development.”

CONTACTS:

Laurie Fish McDowell

HFF Associate Director, Marketing

One Post Office Square, Suite 3500

Boston, MA 02109

tel 617.338.0990

fax 617.338.2150

http://www.hfflp.com/

lmcdowell@hfflp.com

Matthew D. Lawton,
HFF Senior Managing Director
(312) 528-3650
mlawton@hfflp.com

Daniel A. Kaufman

HFF Director
(312) 528-3650
dkaufman@hfflp.com

DCT Industrial Trust Announces Leasing Activity in Memphis

More than 770,000 Square Feet of Leases Signed

DENVER, CO, PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. (NYSE:DCT), a leading industrial real estate investment trust, has announced significant leasing activity in the Memphis market.

Mallory Alexander International Logistics, a leading third party logistics company, has renewed its lease for 218,000 square feet and expanded into an additional 120,000 square feet to occupy the entire 338,000 square foot building. The lease term is three years.

Neely Mallory, (top right photo) Chairman and Chief Executive Officer of Mallory Alexander International Logistics, commented, "DCT Industrial was able to meet our needs for additional high-quality distribution space. We are pleased that we will be able to grow our Memphis operations without any disruption to our business."

HD Supply Distribution Services renewed its lease for 193,000 square feet and expanded into an additional 91,000 square feet to occupy the entire 284,000 square foot building under a seven year lease term.

DCT Industrial also added a new customer, Quebecor World Logistics, the world's largest distributor of catalogs, publications and newspaper inserts, to a 149,000 square foot bulk distribution facility under a 39 month lease term.

"We are extremely happy with the level of leasing activity that we've seen in Memphis over the past few months," said John Tugman, Vice President and Regional Director of Leasing for DCT Industrial. "Our portfolio of high-quality assets in Memphis enables us to meet the expansion needs of existing customers as well as attract new customers."

DCT Industrial's operating portfolio in Memphis is currently 96.9% leased. The Company owns or manages 5.4 million square feet in Memphis and has one 885,000 square foot building under development.

DCT Industrial Trust Inc. is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico.

As of March 31, 2008, the Company owned, managed or had under development 76.9 million square feet of assets leased to approximately 850 corporate customers, including 12.1 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at http://www.dctindustrial.com/.

CONTACT: Sara Knapp, Corporate Communications of DCT Industrial TrustInc., +1-303-597-1550, investorrelations@dctindustrial.comWeb site: http://www.dctindustrial.com/

SchenkelShultz Architecture, Tampa, Designs Marion County Public Schools' New Horizon Academy at Marion Oaks in Ocala, FL

TAMPA, FL – The Tampa office of SchenkelShultz Architecture designed Marion County Public Schools’ new $33.7 million, 168,000-square-foot Horizon Academy (top right photo) at Marion Oaks, an adaptation of the acclaimed SchenkelShultz middle school prototype design, in Ocala, FL.

Designed to initially accommodate 1,352 students in grades 4 through 8, the facility will ultimately serve as a middle school only. The academy features a secure central courtyard, 32 general classrooms, seven technology labs, three science labs, three development skills labs, and a media center with a closed circuit TV studio.

Also included are a one-story administration office, cafeteria, music suite and gymnasium located at the front of the school to allow for easy after-hours usage. In addition, six vocational labs offer agriculture, business education, family and consumer science, health occupation, technology, and public service education.

Grades 4 and 5 are now open and grades 6-8 will open in August 2008. Ajax Building Corporation, Tampa, FL, serves as construction manager. SchenkelShultz Architecture, Tampa, is located at 4890 W. Kennedy Boulevard, Suite 930, Tampa, FL, phone 813-383-5500.

CONTACT:

Kenneth H. Cristol, President,

Cristol Marketing Company

237 Hunt Club Blvd., Suite 102,

Longwood, FL 32779 USA

PH 407-774-2515

FX 407-774-6647

khc@crismktg.com

http://www.crismktg.com/

Strategic Marketing, Brand Management,

Publicity and Advertising,

and Corporate Communications

Fitch REIT Credit Analysis: Sovran Self Storage Liquidity Concerns Lead to Negative Watch

NEW YORK, NY-- A decrease in liquidity, combined with near-term debt maturities resulted in Fitch placing Sovran Self Storage’s(Sovran) Issuer Default Rating (IDR) on Negative Watch, according to the latest credit analysis update by Fitch Ratings.

Sovran’s existing ratings are supported by strong coverage metrics and solid operating performance. Fitch placed Sovran’s IDR on Rating Watch Negative on April 8, 2008 Fitch's latest credit analysis update on Sovran, which provides more detail supporting Fitch's rating actions, is available on the Fitch Ratings website at ' http://www.fitchratings.com.

Fitch currently rates Sovran and affiliate Sovran Acquisition Limited Partnership (SALP) as follows: Sovran--IDR 'BBB-'.SALP--IDR 'BBB-';--Senior unsecured revolving credit facility 'BBB-';--Senior unsecured term notes 'BBB-'.

Primary credit strengths include the following:--Strong fixed-charge coverage;--Solid property-level fundamentals;--Manageable leverage and adequate risk-adjusted capital.

Primary credit concerns include the following:--Limited liquidity;--Significant near-term debt maturities;--Geographic concentration.

Contacts:

Steven Marks

+1-212-908-9161 or Sean Pattap

+1-212-908-0642, NewYork.

Sandro Scenga

Director Corporate Communications

Fitch Ratings

+1-212-908-0278

sandro.scenga@fitchratings.com

Commercial/Multifamily Originations Volume Hit Record in 2007 Despite Mid-year Slowdown

WASHINGTON, DC -- The commercial/multifamily originations market grew 19 percent in 2007, with mortgage bankers closing $507.7 billion in commercial/multifamily loans according the Mortgage Bankers Association's 2007 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation.

Increases were seen across most property types and most investor groups, and were led by increases in loans for office buildings and loans intended for commercial mortgage-backed security (CMBS), collateralized debt obligations (CDO) and other asset-backed security (ABS) conduits. Intermediated loan volume grew 15 percent between 2006 and 2007. (Federal Reserve Bank, Washington, DC photo at left below)

"Even with the credit crunch hitting mid-year, 2007 still set a record for commercial/multifamily mortgage originations," said Jamie Woodwell, (top right photo) MBA's Senior Director of Commercial/Multifamily Research. "The 2007 numbers show both the importance of the commercial mortgage-backed securities (CMBS) market to commercial real estate finance and the depth of other funding sources, such as banks and thrifts, life companies, Fannie Mae, Freddie Mac and others."

Conduits were the largest single investor group for these mortgages - responsible for $225.2 billion, or 44 percent of the closed loan volume. Office buildings were the dominant property type - representing $140.7 billion, or 28 percent of the lending total.

Among major investor groups, Freddie Mac saw the greatest percentage increase in volume between 2006 and 2007, followed by Fannie Mae; CMBS, CDO and other ABS conduits; real estate investment trusts (REITs); and life insurance companies.

Lending for office properties once again was the leader in property type originations for 2007, followed closely by multifamily. Lending for office properties grew by 36 percent between 2006 and 2007. Lending for multifamily, health care, and hotel/motel saw increases, while retail and industrial saw slight declines over the year.

In a separate report, MBA's quarterly index of commercial/multifamily mortgage bankers' originations showed that through the first half of 2007, originations were running 38 percent ahead of 2006 levels. During the second half of 2007, commercial/multifamily originations fell 11 percent from their 2006 levels.

To learn more about the report or to obtain a copy, click here or contact Jason Vasquez, Mortgage Bankers Association, 202 557 2950, jvasquez@mortgagebankers.org.

The Cake Emporium Signs Lease at South Kendall Square Shopping Center

KENDALL, FL – Deerfield Beach-based Konover South, LLC, one of the Southeast’s premier retail developers, announced that The Cake Emporium has signed a lease for 1,050 square feet at its 100,000-square-foot South Kendall Square shopping center (store site photo top right) located at the prime corner of SW 120th Street and SW 127th Avenue in Kendall, FL.

“The center,” said Konover South Leasing Specialist Vivian Ricardo, “is strategically located in a high traffic area one-half mile west of the Florida Turnpike/SW 120th Street interchange, and is directly across from a Publix-anchored center.”

The center includes ABC Fine Wines & Spirits, Bank of America, Bonefish Grill, Coldstone Creamery, KFC/Long John Silver’s, Starbucks, Walgreens, Washington Mutual and numerous others. In addition, there is a 2-story, 26,500-square-foot office building. Ricardo said that Konover South developed, leases and manages the center.

Konover South, LLC, a fully integrated acquisition, development and management company operating throughout the southeastern U.S., is based in Deerfield Beach, FL. Visit the company’s website at http://www.konoversouth.com/.

CONTACT:

Kenneth H. Cristol, President,

Cristol Marketing Company

237 Hunt Club Blvd., Suite 102,

Longwood, FL 32779 USA

PH 407-774-2515

FX 407-774-6647

khc@crismktg.com

http://www.crismktg.com/

Strategic Marketing, Brand Management,

Publicity and Advertising,

and Corporate Communications

HEI Hotels & Resorts Appoints Pradeep Bobba General Manager of Sheraton Crystal City

Arlington, VA -– HEI Hotels & Resorts has appointed Pradeep Bobba as the new General Manager of the Sheraton Crystal City Hotel. (photo at left below)

Bobba joins the hotel from the Embassy Suites Orlando Downtown in Orlando, Florida, where he served as director of operations since January 2008.

“We are dedicated to promoting growth from within at HEI, and from day one we highlighted Pradeep as a candidate for our fast track development program,” said Michael Miner, (top right photo) HEI’s regional senior vice president of operations. “This was a well-deserved promotion and we are confident that Pradeep will bring fresh energy and vision to the Sheraton.”

Known for its comfortable environment and outstanding service, the Sheraton Crystal City is a central location for Washington, D.C. and Northern Virginia travelers. Bobba will be responsible for maintaining a culture of friendly service and a warm atmosphere, in line with Sheraton’s distinct brand positioning.

“I came to HEI to get the final tools I needed to become a general manager,” Bobba said. “The hotel has a great culture of service and with the recent completion of $3.5 million dollars in guest room renovations, the Sheraton Crystal City is positioned as premier destination in Arlington”

CONTACT:

Chris Daly
Vice President
Daly Gray Public Relations
ph: 703-435-6293

Jess Petitt

HEI Hotels & Resorts

203 849 2228

jpettit@heihotels.com

NAI Realvest Negotiates $902,500 Sale Price for 7,980-SF Industrial Building in Sanford, FL

ORLANDO, FL --- NAI Realvest has negotiated the sale of a 7,980 square foot industrial building at 120 Keyes Court in Sanford, FL for $902,500.00.

NAI Realvest Principal Michael Heidrich (top right photo) negotiated the transaction representing the seller, RNB Holdings, LLC of Sanford. The buyer of the six-year-old building is Premelters, Inc. of Winter Springs.

Heidrich recently negotiated another sale for RNB Holdings – a 7,800 square foot 10-year-old industrial building at 30 Keyes Court to Emver, LLC of Orlando for $910,000.

For more information, please contact:

Michael Heidrich, Principal NAI Realvest, 407-875-9989 or

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

Beth Payan or Larry Vershel, LV Communications, Inc. 407-644-4142

Pineloch Management Corp. Completes New 11,600-SF Southgate Office/Restaurant/Retail Mixed-Use Center near Downtown Orlando

ORLANDO, FL – Orlando-based Pineloch Management Corporation completed its new 11,000-square-foot Southgate Office/Restaurant/Retail mixed-use center (above photo) near downtown Orlando according to Mary Hurley, (top right photo) CCIM, RPA, real estate and leasing manager for Pineloch.

Located on South Orange Avenue at Southgate Commerce Boulevard just two miles south of Orlando’s central business district, the project consists of a one-story, 2,400-square-foot Tijuana Flats restaurant and a two-story, multi-tenant building to contain 4,300 square feet of ground-floor retail space plus 4,300 square feet of second-floor office space.

Hurley added that immediate occupancy is available for the prime location offering traffic counts totaling 83,700 average daily trips and $65,062 median household income within a one-mile radius. Designed by Cuhaci & Peterson, Orlando, the project was constructed by McCree, Inc., Orlando.

Pineloch’s storied history began more than 80 years ago when a young Italian immigrant, Philip Caruso, moved to Florida to fulfill the American Dream. With a single purchase of land located in the heart of Winter Garden, Caruso, spanning from 1926 to 1986, created one of the largest private corporations in Central Florida called Southern Fruit Distributors.

Its core business was citrus groves and it processed and marketed world-renowned products including Bluebird Orange Juice and Bluebird Grapefruit Juice.

Philip Caruso’s three sons and son-in-law worked alongside him from the mid 1940’s, and following his passing in 1963, they continued to operate the company until 1986.

The third generation of the Caruso family owns and operates Southern Fruit Distributor’s successor company Pineloch Management Corporation. Today, nationally recognized Pineloch Management is a diversified leader involved in real estate development, leasing, management, warehousing and agriculture. It also manages a number of prestigious land holdings statewide and continually seeks new opportunities for growth.

Pineloch Management Corporation is located at 102 W. Pineloch Street, Suite 10, Orlando, FL 32806, phone number 407-859-3550. Visit the company’s website at http://www.pineloch.com/.

CONTACT:

Kenneth H. Cristol, President,

Cristol Marketing Company

237 Hunt Club Blvd., Suite 102,

Longwood, FL 32779 USA

PH 407-774-2515

FX 407-774-6647

khc@crismktg.com

http://www.crismktg.com/

Strategic Marketing, Brand Management,

Publicity and Advertising,

and Corporate Communications

Davidson Hotel Company/Square Mile Capital Management JV Acquires Sheraton Suites Tampa Airport/Westshore

Davidson to Manage Hotel, Oversee $14 Million Renovation

MEMPHIS, TN—Square Mile Capital Management LLC and Davidson Hotel Company, one of the nation’s largest hotel management companies, has announced their joint venture acquisition of the 259-room Sheraton Suites Tampa Airport/Westshore (photo above) in Florida, from Host Realty Partnership LP for an unspecified amount.

The hotel will undergo a nearly $14 million renovation, scheduled to begin in 2009. In addition to managing the property operations, Davidson will also coordinate the renovation.

“This is our first joint venture acquisition with Square Mile Capital Management, and we’re very pleased to launch our relationship with such a strong asset,” said John A. Belden, (top right photo) Davidson’s president and chief executive officer. “The Tampa property is our second acquisition in 2008, and we will continue to seek out new acquisition opportunities to complement our core management contract business. We look forward to exploring other opportunities with Square Mile that fit our respective investment approaches.”

Located at 4400 West Cypress St., the all-suite property is located in the upscale Westshore submarket, close to Tampa International Airport and surrounded by more than 11 million square feet of office space.

The hotel also is convenient to shopping and such major attractions as Busch Gardens, (photo at right below) Adventure Island, Channelside, Florida Aquarium, (photo at left below) Steinbrenner Field (the NY Yankees Spring Training complex) and Raymond James Stadium, home of the Tampa Bay Buccaneers and the 2009 Super Bowl. (Tampa International Airport photo is at right)

The hotel’s 259 suites overlook a lushly landscaped, tropical atrium, where guests may relax over a meal at the hotel’s full-service restaurant, St. James Grill, and adjacent sports bar. Among the hotel’s other amenities are an indoor pool, fitness center, business center, whirlpool/hot tub and 8,100 square feet of flexible meeting space.

“The Sheraton Suites Tampa Airport/Westshore is an attractive investment with significant growth potential,” said Steve Margol, (top left photo) Davidson’s executive vice president, business development. “The planned renovation will touch virtually every area of the hotel, including the lobby, restaurant and lounge, pool, meeting space, fitness center and guestrooms, and will put the property in top physical condition. Those improvements, coupled with its prime Westshore/airport location, should enable the Sheraton Suites to assume a leadership position in this market.”

Square Mile Capital Management LLC is a privately managed institutional investment fund founded in mid-2006, which currently manages approximately $1 billion on behalf of institutional and high net worth investors. Since inception, the firm has successfully completed more than 53 distinct debt and equity investments involving office, retail, hospitality, multifamily and other property types located throughout the United States.

Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, full-service hotel owner and third-party management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry.

The company currently owns and/or manages 32 upscale, independent and branded hotels with nearly 9,100 rooms across the United States, including such affiliations as Westin, Sheraton, Hyatt, Hilton, Hilton Garden Inn, Embassy Suites, Doubletree, Marriott, Renaissance, Crowne Plaza and Holiday Inn. Additional information on Davidson may be found at the company’s Web site, http://www.davidsonhotels.com/.

CONTACTS:

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

Cyndi Carl

Davidson Hotel Company

(901) 821-4155

ccarl@davidsonhotels.com

Jerry Daly, Chris Daly (media)
Daly Gray Public Relations
(703) 435-6293
jerry@dalygray.com

S&P Makes Key Appointments--Ratings Risk Manager, Chief Credit Officer, Chief Quality Officer

NEW YORK, NY, May 8, 2008--Standard & Poor's today announced a number of key executive appointments in the areas of risk oversight, criteria management and quality assurance.

Clifford Griep has been named Executive Managing Director, Ratings Risk Management; Mark Adelson (photo at left below) is joining S&P as Managing Director, Chief Credit Officer; and Neri Bukspan (photo at right below) is becoming Managing Director, Chief Quality Officer. All three executives will report to Vickie Tillman,(top right photo) Executive Vice President, Standard & Poor's Ratings Services.

"These appointments add strength and depth to S&P's ratings leadership and capabilities, and demonstrate S&P's commitment to serving the broad and growing needs of the global credit markets," said Ms. Tillman.

In his new role, Mr. Griep will identify, assess and mitigate potential internal and external risk exposures in our ratings business. Previously, Mr. Griep served as S&P's Chief Credit and Quality Officer.

To further strengthen the independence of Quality and Criteria governance, the roles have been split into two separate functions, both reporting to Vickie Tillman.

Mr. Adelson joins S&P from Adelson & Jacob Consulting, a firm that provides strategic consultation on securitization, real estate and investments. Prior to that, he was managing director and head of Structured Finance Research at Nomura Securities International.

Previously, Mr. Adelson was managing director, Residential Mortgage Finance, for Moody's Investors Service. He began his career as an attorney for the law firm of Thacher Proffitt & Wood.

Mr. Bukspan became S&P's Chief Accountant in 2002.

Analyst Contact:

Chris Atkins, New York

(1) 212-438-1106