Hispanic Hotel Owners Association Announces Phoenix Hotel Investment Seminar

WASHINGTON, D.C.—The Hispanic Hotel Owners Association (HHOA), a rapidly growing non-profit organization that seeks to increase Latino ownership of hotels, will hold part one of a three-session series of International Hotel Investment Seminars May 28-29 at the Wyndham Phoenix (above photo) in Arizona.

The HHOA-developed seminars were created to inform high-net worth Hispanic investors about available hotel ownership opportunities.

“This first part of our on-going series continues to draw attendance in numbers that surpass our expectations,” said Angela Gonzalez-Rowe, (top right photo) founder and president of the Hispanic Hotel Owners Association.

“While the Hispanic community often provides the backbone for a hotel’s behind-the-scenes operations, there has been a dearth of ownership opportunities. As more and more Latinos move into higher income brackets, that is rapidly changing. Our goal is to provide this financially capable group with information about the benefits of hotel ownership and investment.”

“With some experts suggesting that we are on the brink of a recession, it is becoming increasingly important for savvy investors to become knowledgeable about their investment options in all economic climates,” said Omar Rodriguez, (photo at right) chairman of the Hispanic Hotel Owners Association. “The hospitality markets continue to provide strong investment opportunities, and we wish to communicate this to the Latino community.”

The Phoenix Hotel Investment Seminar will focus on the basics of hotel investment, beginning with an overview of the hotel industry. Topics range from hotel segments and brands to investment strategies; from market, product and site selection to financing the deal.

An overview of the industry will be given by John Keeling, Sr.,(photo at bottom right) vice president of PKF Consulting, specialists in the hospitality industry.

Other speakers include Bill Hall of Wyndham Worldwide, Patrick Feltes (middle right photo) of GE Capital Solutions, Carlos Rodriguez (bottom left photo) of Driftwood Hospitality, Harry Garewal, (middle left photo above Carlos Rodriguez) president & CEO of the Arizona Hispanic Chamber of Commerce, and Juan Carlos Contalba (top left photo) of Benchmark Hospitality.

Corporate sponsors include Hilton Hotels Corporation, Marriott International, Wyndham Worldwide Corporation, La Quinta, Accor North America, Choice Hotels International, Hotel & Motel Management Magazine and American Airlines.

HHOA will continue the seminar series in Los Angeles on July 1 and 2. The organization will hold its inaugural Hispanic Hotel Investment Conference in October 2008 in Miami, Fla.

Headquartered in Washington, D.C., HHOA is a non-profit organization whose mission is to increase the number of Hispanic-owned, -developed and -operated hotels, further the participation of Hispanic-owned suppliers serving the hotel industry and increase executive level employment opportunities for Hispanics within the lodging industry.

The industry’s leading brands, including Hilton Hotels Corporation, Marriott International, Choice Hotels International, Wyndham Worldwide Corporation and Global Hyatt Corporation have joined the organization and have become major corporate sponsors.

HHOA membership is open to hotel owners, developers, investors, financiers, real estate executives, investment bankers, professional advisors, analysts, franchisors, management company executives, industry product and service providers, hotel general managers, hotel sales and marketing managers, government agencies for tourism and development, hospitality schools, hospitality students or anyone seeking to do business within the Hispanic market.

Additional information about HHOA is available at the association’s Web site, http://www.hhoa.org/. To learn more about the Hotel Investment Series, contact Angela Gonzalez-Rowe at 202-587-5707, or http://www.hhoa.org/.

CONTACTS:

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

Hampton(r) Hotels Open 11 New Properties in April

Hampton Inn & Suites product counts for nearly all monthly hotel openings

MEMPHIS, TN—Hampton (www.hampton.com), the national brand of more than 1,500 mid-priced Hampton Inn® and Hampton Inn & Suites® hotels, opened 11 properties in April 2008, representing 1,135 new rooms.

(Top left photo shows lobby of Hampton Inn & Suites, Manchester, CT)

The new openings include one Hampton Inn hotel, eight Hampton Inn & Suites properties and two Hampton Inn & Suites by Hilton properties. All openings are franchised, newly constructed hotels.

(Middle right photo shows Hampton Inn & Suites Berkshires/Lenox, MA.)

“As our development pace continues to set record levels this year, we are thrilled with the demand for construction of our Hampton Inn & Suites product,” said Phil Cordell, senior vice president, Hampton Hotels.

“With the opening of 10 Hampton Inn & Suites hotels this month, it is clear that our suites product will continue to be a major player in the mid-scale hotel market.

(Hampton Inn & Suites Hotels, Toledo/Perrysburg, OH at middle right photo)

“We also are happy to announce that two Hampton Inn and Suites hotels have opened in Alberta, Canada this month, bringing our total hotel count in the country to 23, with four hotels currently under construction and scheduled to open by year-end 2009.”

(Middle left photo above shows Hampton Inn & Suites by Hilton, Edmonton/West, Alberta, Canada.)

For consumers who would like to take their hotel room experience home with them, Hampton has a program available online at www.hamptonhomecollection.com, where many of Hampton Hotels’ guestroom amenities are available for purchase.

(Photo at right below shows Hampton Inn Hotel, Norco, CA.)

CONTACTS:

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

Tori Roberson/Charmaine Easie-Samuels

Hampton Brand Communications, (901) 374-5534

Chris Daly, Daly Gray Public Relations, (703) 435-6293

HFF Secures $5.2M Refinancing for Chappell Oaks Apartments in Belton, TX

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $5.2 million refinancing for Chappell Oaks Apartments,(above photo) a 120-unit, Class A multifamily community in Belton, Texas.

HFF director Cortney Cole (top right photo) worked exclusively on behalf of the borrower, Chappell Hill Equity IV, Ltd. in arranging the 10-year, 5.75% fixed-rate loan through Wachovia Multifamily Capital, Inc. FNMA. Proceeds from the loan were used to retire the existing debt that was maturing.

Chappell Oaks Apartments is located on 12.8 acres at 200 Lake Road in northwest Belton (approximately mid-way between Dallas and Houston) close to the junction of Interstate Highway 35 and US Highway 190, as well as the Fort Hood Military Reservation, University of Mary, Hardin at Baylor and Texas A&M University College of Medicine.

(Middle left photo shows President George W. Bush greeting soliders at Fort Hood, Killeen, TX)

Completed in 1998, the property is 98% leased and features one-, two- and three-bedroom units averaging 1,076 square feet each. Community amenities include a controlled access gate and swimming pool with hot tub as well as detached and attached parking garages.

CONTACTS:

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 738 0990, lmcdowell@hfflp.com

Cortney R. Cole, HFF Director, 713 852 3500, ccole@hfflp.com

Arbor Teams Up with RealShare to Present Custom Conference in Dallas

How to Navigate the Capital Markets Storm with Agency Lending

UNIONDALE, NY--Arbor Commercial Mortgage LLC has partnered with the RealShare Conference Series to present an exclusive, complimentary breakfast roundtable discussion, How to Navigate the Capital Markets Storm with Agency Lending on June 10 at The Westin Galleria Dallas from 7:30 AM – 11 AM.

FHA and Fannie Mae can represent a lifeline to multifamily owners, investors and developers in the throes of today's credit crunch and liquidity crisis. The conference will focus on the emerging commercial real estate trends in the Dallas-Fort Worth area and how you can capitalize on them in this challenging economy.

The event will kick off with an overall economic forecast and evaluation by nationally acclaimed Chief Economist Dr. Sam Chandan (top right photo) of Reis, Inc., as well as a Dallas-Fort Worth market update by Brian O’Boyle, (middle left photo) the well-known Founder and Managing Broker of Apartment Realty Advisors’ Dallas office.

The esteemed panel will consist of Bud Malone, founder and former president of Malone Mortgage, Mike Brandenberger, (lower right photo) Owner and Operator of D4 Development Services and Wendy Stamnas, FHA Chief Underwriter for Arbor, who will discuss how different kinds of financing structures and solutions might be the key to many deals staying above water during this unprecedented capital markets and financing lockdown.

Registration for the free event is at http://www.arbor.com/fhaconference.aspx.

CONTACTS:

Lynne Viccaro at events@arbor.com or

call 1-800-ARBOR-10.

Ingrid Principe
Marketing Specialist
Arbor Commercial Mortgage, LLC

333 Earle Ovington Boulevard, Suite 900 Uniondale, NY 11553

PH 516-506-4298
FX 516-542-2555

iprincipe@arbor.com
http://www.arbor.com/

Starwood Hotels & Resorts Aggregate $600M Of Senior Notes Rated BBB-

NEW YORK -- Standard & Poor's Ratings Services has assigned its 'BBB-' rating to Starwood Hotels & Resorts Worldwide Inc.'s proposed $400 million senior notes due 2018 and to the $200 million add-on to its senior notes due 2013.

(Starwood property Four Points by Sheraton Hangzhou, China, at top left)

The proceeds will be used to reduce outstanding borrowings under Starwood's revolving credit facilities.All other ratings for the company, including the 'BBB-' corporate credit rating, were affirmed. The rating outlook is stable.

"The rating on White Plains, N.Y.-based Starwood reflects the company's large, high-quality, and geographically diversified hotel portfolio with many well-established brand names," said Standard & Poor's credit analyst Emile Courtney.

We expect that Starwood will pursue an operating strategy and financial policy of balancing share repurchases, dividends, and growth investments to maintain an investment-grade financial profile over the lodging cycle.

(Starwood property St. Regis Resorts & Residences, Bal Harbour, FL, at middle left photo)

These positive credit factors are partly tempered by aggressive share repurchase activity over the last few years, the sensitivity of lodging demand to economic cycles, and the company's exposure to the performance of its largest owned hotels.

We continue to expect the lodging environment inside and outside the U.S. to remain supportive of improvements in operating performance in Starwood's lodging business in 2008.

In April 2008, Starwood generally affirmed its 2008 guidance for profitability measures, including EBITDA, and raised its comparable worldwide operated hotel revenue per available room (RevPAR) guidance for 2008 to 8%-10% from 4%-7%, almost entirely reflecting a weaker U.S. dollar in international markets with no change in the underlying local currency RevPAR growth expectation for 2008.

The company's exposure to owned and leased hotels remains a key rating factor. (Starwood property Sheraton Grande Tokyo Bay Hotel at middle right photo)

Even though these properties comprise only 10% of its total room base, they generated about 35% of EBITDA in 2007. Starwood remains a large owner of 74 upper-upscale and luxury hotels that are branded Sheraton (25), Westin (14), "W" (9), The Luxury Collection (9), St. Regis (4), Four Points (4), and nine others. In addition, we expect the company to continue to have 100% of its rooms concentrated in the upscale and luxury hotel segments.

Media contact: Mimi Barker, New York, (1) 212-438-5054 Analyst Contact: Emile Courtney, CFA, New York, (1) 212-438-7824

RP Realty Partners Awards CB Richard Ellis Exclusive Listing for The Plaza

ORLANDO, FL - RP Realty Partners, LLC a privately held, fully integrated real estate investment and operating company headquartered in Beverly Hills, California, is fast becoming a lynchpin in the continued renaissance of downtown Orlando, announced they have awarded CB Richard Ellis the exclusive listing agreement for The Plaza (top right photo).

CB Richard Ellis is a worldwide leader in commercial real estate services. Bobby Palta, Senior Associate, (photo at left) Wood Belcher,(photo at left below Palta) First Vice President (both with the Retail Properties Group), and Nan McCormick, (photo at right) Senior Vice President (Office Properties Group) are currently exclusively representing over 102,000 square feet of retail, restaurant and entertainment space on the first and second floors of The Plaza in Downtown Orlando.

The property is located at the Northeast Corner of Orange Avenue and Church Street in the heart of Orlando's Central Business District.

"The Plaza property is Downtown Orlando's premier retail venue. With the progress that has been made thus far by developers partnering with the City of Orlando, downtown Orlando has made tremendous strides towards becoming a 24/7 city.

"The lease up of the remaining retail space in The Plaza development will be key in making progress towards that goal. Targeted users include a theater, entertainment venues, destination restaurants & bar/lounges as well as retail and services for the ground floor retail," said Belcher and Palta.

Over $800 million dollars in new projects including a new Arena for the Orlando Magic scheduled to open for the 2010 basketball season and new state of the art four theater Performing Arts Center are all slated for downtown Orlando just blocks from The Plaza.

In addition, construction of new access ramps to both the Interstate 4 and the 408 East West Expressway Interchange will also increase connectivity in and around Downtown Orlando which much of the off ramp traffic eventually flowing right by the Plaza via Church Street.

The Plaza is uniquely positioned in the 100% location to capture the daytime and nighttime energy within Downtown Orlando.

With more than 7.1 million square feet of office space at a 9.4% vacancy rate (Florida's lowest) and 137,041 employees working within two miles, The Plaza is positioned well for Downtown's workforce.

The half-dozen gentrifying neighborhoods in and around Downtown provide a young, active population base to generate success for retailers and restaurants in The Plaza - more than 286,000 people within five miles.

RP Realty Partners invests in middle-market transactions ranging form $10-100 million and provide debt & equity capital for real estate properties throughout the United States. They are fast becoming one of the key owners in the Orlando MSA, with their interest in The Plaza, Altamonte Town Center, Baldwin Park and several other retail centers.

CONTACTS:

Bobby Palta, 407 839 3124, bobby.palta@cbre.com

Jessica Wilhoite, 407 839 3158, jessica.wilhoite@cbre.com

Abu Dhabi Real Estate Still Climbing a Wall of Worry

ABU DHABI, United Arab Emirates--Investors are still suffering angst at imagined risks in the Abu Dhabi (Downtown Abu Dhabi top right photo) property market, just like in the early days of Dubai. And yet confidence is growing.

The Cityscape Abu Dhabi exhibition was extended by one-day last week amid record attendance by would-be investors. But what are the risk factors that leave buyers still facing a wall of worry?

Let us divide these risk factors into two categories: imaginary and real. This is a pretty fair framework of analysis for a new market where there is little by the way of hard facts and much hype and speculation. One red herring is the shortage of mortgage finance argument.

Only this week a report from the Department of Planning and Economy warned rather alarmingly that commercial banks are tending to provide short-term money for speculation rather than mortgage finance. Well, given that almost nothing has been handed over yet, is that very surprising?

Yes, there is speculation in flipping properties – like that seen in Dubai a few years ago – but this is a sign of a healthy market and rising prices.

What would be a worry is if commercial banks failed to come up with mortgage products when they are needed. This might entail capital increases for the sector, which is not presently allowed to lend more than 20% of deposits against property.

So how about real risks to the sector? Building material costs are certainly rising but then so are property values. This could signal problems for developers who sell cheaply off-plan today and face higher than expected construction costs tomorrow.

(Capitala's Arzanah development at left is one of the latest projects, open only to nationals.)

You could also wonder who is going to live in the residential mega-projects now under construction. Oil and gas is not a big employer and is by far the main business in Abu Dhabi.

Ancillary concerns and related industry are expanding but there could be a supply and demand mismatch in the future. Projected future growth of Abu Dhabi entails the attraction of millions of expatriates and is not down to internal population growth. That means an economic downturn would result in a loss of population.

On the other hand, in the short term the Colliers International forecast of a shortfall of 100,000 residential units by 2010 compared with the current supply of 180,000 suggests that oversupply will not become an issue for many years.

Indeed, when likely time over-runs on very ambitious mega projects are considered supply seems hardly an issue. The real risk, of course, in Abu Dhabi property is not getting involved.

Colliers points to a 100% increase in land values from 2005 to 2007, but still to a very reasonable $1,000 per square metre. Add in spiraling oil prices – with Goldman Sachs predicting $150-$200 within 18 months – and negative real interest rates courtesy of the dollar-pegged dirham, and you have a formula for successful real estate investment.

As ever though, remember the rule on location and be careful who you do business with. Nothing lasts forever, of course. (Palm Island development in Dubai is at right photo).

Perhaps too much luxury housing will be built and not enough for workers. But investing in the capital city of the oil-rich UAE at current prices still looks a no-brainer.

Marcus & Millichap Sells Fairfield Inn & Suites for $7.5M

TAMPA, FL--The sale of Fairfield Inn & Suites was announced by Steven M. Ekovich, First Vice President and Regional Manager for the Tampa, Florida office of Marcus & Millichap Real Estate Investment Services.

The Fairfield Inn & Suites is an 83 unit interior corridor hotel, located at 12260 Morris Bridge Road in Temple Terrace, Florida.

The property sold for $7,500,000 to 3H Group, Inc. based out of Chattanooga, Tennessee. The seller, Baywood Hotels of Maryland, purchased the property in August of 2006.

Jaimin Patel, Senior Associate and Niven Patel, Associate of Marcus & Millichap’s Tampa office represented the sellers and Jaimin Patel and Jeffrey Solenberger represented the buyer in this transaction.

CONTACTS:
Sue Sampson, Brokerage Administrator/CAST, Marcus & Millichap, 7650 Courtney Campbell Causeway, Suite 920, Tampa, FL. 33607. Phone: (813) 387-4700. Fax: (813) 387-4710

Steven M. Ekovich, Marcus & Millichap, (813) 387-4700

Marcus & Millichap Names Michael Hoffman First Vice President

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Michael E. Hoffman (top right photo) to first vice president, according to Harvey E. Green (middle left photo), president and chief executive officer of Marcus & Millichap. Hoffman also serves as the regional manager of the firm’s Houston office.

“Under Michael’s leadership, the Houston office has expanded significantly,” comments Green. “Michael has been instrumental in attracting talented investment sales agents, as well as local and out-of-state investors to this market over the past few years. His management skills and experience in the real estate investment sales market will continue to contribute to the firm’s success and growth.”

Hoffman joined the firm’s Newport Beach office in 1992 as a sales associate, specializing on the multi-family market. As an agent he received numerous distinctions for sales achievements. In 2001, Hoffman was named a sales manager in the Ontario office. He was named regional manager of the Houston office in December 2001.

He had also previously been charged with managing the Austin and San Antonio offices. Hoffman was promoted to vice president in April 2004. Hoffman attended the University of Arkansas, where he majored in real estate finance.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Grubb & Ellis|Commercial Florida Negotiates Retail Lease in Tarpon Springs, FL

TAMPA, FL– Grubb & EllisCommercial Florida recently negotiated the lease of 1,200 square feet of retail space at Anclote Corner Shopping Center (top left photo) located in Tarpon Springs.

Michelle Seifert, (middle right photo) Associate Vice President, and Josh Tarkow, (bottom left photo) Associate, in the company’s Retail Group negotiated the lease of 1,200 square feet at Anclote Corner located at 1953 N. Pinellas Ave., Tarpon Springs, FL.

Seifert and Tarkow represented the landlord, Anclote Corner Associates, a Tarpon Springs-based firm. Express Clips Inc., based in Hudson, FL, is the tenant.

Anclote Corner is a 57,000 sq ft shopping center anchored by Sweetbay Supermarket and Dollar General.

For more information, contact:
Michelle Sefiert, Grubb & EllisCommercial Florida 813-830-7537, mseifert@commercialfl.com;

Josh Tarkow, Grubb & EllisCommercial Florida 813-830-7540, jtarkow@commercialfl.com

Larry Lietzman, Grubb & EllisCommercial Florida, 813-639-1111

Thomas D. Wood & Co. Finds Financing for Satellite Beach, FL Properties

ORLANDO, FL—John Worrell, (top right photo) Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $1,400,000 for the Hannon Office Building and Goldenrod Industrial.

Worrell arranged financing in the amount of $650,000 for the Hannon Office Building in Satellite Beach, Florida.

Worrell financed the loan through Kansas City Life, one of Thomas D. Wood and Company’s correspondent lenders, at a permanent fixed rate of 6.125%. The loan term is 10 years with a 25-year amortization, and a loan-to-value of 52%.

The 7,200 square-foot office building was built in 1968, with a two-story addition added in 2001, and is home to Century 21 and Alliance. The Hannon Office Building is located at 1110 State Road A1A, Satellite Beach, Florida.

Worrell arranged financing for Goldenrod Industrial through StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders. The loan was secured at a permanent fixed rate of 6.25% for a 10-year term and a 20-year amortization, in the amount of $750,000. The loan-to-value is 40%.

The 26,850 square-foot industrial building is home to C & M Granite and Orlando Concrete, and is located at 1714 North Goldenrod Road, Orlando, Florida.

CONTACTS:

John Worrell, (407) 937-0470, jworrell@tdwood.com

Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Lack of Affordable Housing Bolsters Apartment Market in Northern New Jersey

ELMWOOD, N.J. — With a shortage of affordable housing in the entire region, apartment properties in Northern New Jersey will perform well in the months ahead, despite the effects of sluggish employment growth on household formation, according to a first-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

The marketwide vacancy rate is currently in the mid-3 percent range, and rents are rising by more than 4 percent annually, exceeding the rate of growth in most other markets.

“Assets with attractive assumable financing should move quickly if they are priced commensurate with underlying fundamentals,” says Michael Fasano, regional manager of the New Jersey office of Marcus & Millichap.

Following are some of the most significant aspects of the New Jersey Apartment Research Report:

· This year, 1,000 rental units will be delivered in the market, representing inventory growth of 0.5 percent.

· Vacancy is forecast to end the year at 3.5 percent.

· Asking and effective rents will each gain 4 percent to $1,548 per month and $1,500 per month, respectively.

· Employers in the Newark metro division, the largest labor market in the Northern New Jersey region, added approximately 1,800 jobs in the 12 months ending in the first quarter.

· Properties with 10 or fewer units have sold for a median price of $109,200 per unit in the past year, an increase of 5 percent from the previous span.

For a copy of the complete New Jersey Apartment Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/ or contact Stacey Corso, Communications Department, (925) 953-1716