Stevenswood Spa Resort Integrates Eco-friendly Amenities into “Greening” Program

Resort Adds Environmentally Sensitive Amenities™ as Part of Continuing Program to Save Resources, Preserve Environment

(Co-owners Michael Webster and Seth Kelman are at right)

MENDOCINO COAST, CA—Officials of Stevenswood Spa Resort, one of the nation’s leading spa resorts dedicated to creating a more eco-friendly guest experience, has implemented its next “green” initiative with the introduction of a 100-percent biodegradable line of Environmentally Sensitive Amenities™ at its 16-acre, ocean-view Indigo Eco/Spa and resort here.

The amenities include environmentally friendly liquids, soap and packaging.
“We began as a spa interested in the well-being of our guests and evolved into a resort simultaneously dedicated to improving the environment,” said Michael Webster, Stevenswood Spa Resort principle.

“It was a natural extension to take our guest-focused wellness approach and expand it to the wellness of the environment.

"While we are small by spa/resort standards, we believe we can be a more progressive laboratory for larger resorts that have to contend with scale and bureaucracy. As we implement strong environment-oriented programs, we share it with the industry. While at the property level, soaps and liquids and their packaging may seem insignificant in terms of environmental impact, on a national level it accounts for thousands of tons of materials a year.”

For more information, call 707.937.2810 or visit http://www.stevenswood.com/.

CONTACT:
Chris Daly, Vice President, Daly Gray Public Relations, ph: 703-435-6293, chris@dalygray.com

HFF Secures $31M Refinancing for Suburban Chicago Luxury Multifamily Community

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $31 million refinancing for Lincoln at Ovaltine Court, (above photo) a 344-unit luxury multifamily community in Villa Park, Illinois.

Working on behalf of LPC Ovaltine Apartments LLC (comprised of the Lincoln Property Company and the AFL-CIO Building Investment Trust (BIT), HFF director Matthew Schoenfeldt (top right photo) and senior managing director Mike Kavanau (middle left photo) placed a five-year, 5.35% fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation).

Ovaltine Court is located at One Ovaltine Court near Interstates 88, 294 and 290 in Villa Park, approximately 17 miles west of downtown Chicago. One portion of the property is a redevelopment of the Ovaltine headquarters and factory, which was occupied for more than 75 years.

The Ovaltine factory space was converted to 121 loft-style homes in the main brick four-story structure. The remaining 223 homes and six commercial units are new construction, garden-style buildings situated throughout the 14-acre site.

Lincoln at Ovaltine Court was developed in 2001 and has homes ranging from 673 to 1,318 square feet that are currently 93% leased. The homes feature high ceilings (9 to 16 feet), washers/dryers, balconies/patios, and many homes contain fireplaces and direct access garages. Community amenities include a fitness center, business center and resident clubroom in more than 3,500 square feet in the main factory structure, as well as an outdoor swimming pool and sundeck.

“This is the Chicago office’s first Freddie Mac transaction and brings the 2008 HFF grand total of Freddie financings to approximately $150 million,” said Schoenfeldt.

Lincoln Property Company is a national development, property management and real estate consulting services firm.

BIT is a $3.015 billion bank collective trust fund composed generally of pension plans with union beneficiaries. It is managed by PNC Bank, National Association.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

CONTACTS:

Matthew R. Schoenfeldt

HFF Director

312 528 3650

mschoenfeldt@hfflp.com

Laurie Fish McDowell

HFF Associate Director, Marketing

617 338 0990

lmcdowell@hfflp.com

Courtyard by Marriott Opens on Gulfport Beachfront

Upscale Hotel Was to Begin Transformation the Day Hurricane Katrina Hit Land

GULFPORT, MS/PRNewswire/ -- Nearly three years after Hurricane Katrina's devastation along the Mississippi Gulf Coast, the Courtyard(R) by Marriott(R) Gulfport -- located at 1600 East Beach Boulevard in Gulfport -- has opened as the coast's premier beachfront hotel and meetings destination.

The upscale property was to have begun its transformation on August 29, 2005, the day the hurricane reached land. The Courtyard by Marriott Gulfport, converted from the independent Gulfport Beachfront Hotel, boasts a multi-million dollar renovation with fully refurbished guestrooms and the largest meeting and event facilities within a non-casino hotel on the Gulf Coast.

Located among 26 miles of pristine beach along the Gulf of Mexico, the hotel is seven miles from downtown Biloxi and minutes from the Gulfport-Biloxi Regional Airport, Gulfport businesses, recreation, championship golf, casinos and nightlife. It is owned by Gulfview LLC and managed by Lane Hospitality of Northbrook, IL.

"We applaud community leaders and citizens for working together to rebuild, recover and make Gulfport even better than it was before the impact of the storm," said Bill DeForrest, (photo at left) President and CEO of Lane Hospitality. "We are proud that the Courtyard by Marriott Gulfport is a significant cornerstone in the rebuilding of the beachfront area and representative of the determination, diligence and bright future of this entire community."

DeForrest added that to underscore Lane Hospitality's belief in the future of the State of Mississippi, the company has invested nearly $50 million in hotels in Gulfport and Jackson.

"Our team is proud to bring this world-class hotel brand to Gulfport and to offer guests and meeting attendees an upscale experience directly on the Gulfport Coast," said Craig Larson, (photo at right) Regional Vice President of Operations for Lane Hospitality. "We look forward to giving back to the community that has supported us for so long."

CONTACT:

Ginny Morrison, Corporate Director of Sales and Marketing of Lane Hospitality, +1-847-910-4485, GMorrison@lanehospitality.com Web site: http://www.lanehospitality.com/

http://www.marriott.com/GPTCY

http://www.marriott.com/

All-Time Attendance High at CFCAR Event

ORLANDO, FL-- The Central Florida Commercial Association of REALTORS® Presidents’ Council Commercial Real Estate Forum Leadership Luncheon recently took place with record attendance by participating associations.

The luncheon – sponsored by Holland & Knight LLP – was held in an effort to unify the voice of the commercial real estate industry. It addressed issues facing practitioners in today’s marketplace.

The mission of the Presidents’ Council is to convene the leadership of Central Florida’s real estate related associations, thereby creating a forum for the facilitation of local, state and national action that positively affects the smart growth of the region, as well as the sharing of resources and ideas that will allow member associations to become more efficient and effective in accomplishing their goals.

Over 50 business leaders representing 28 commercial real estate organizations and associations came together at this luncheon to discuss business interests that could affect the fabric of Florida’s business climate. Issues such as Hometown Democracy, encroaching property rights issues and rising government relations were lively topics for the panelists and speakers.

Presentations were given on the second phase of Hometown Democracy’s effort to stymie developers and overburden local governments. This broad-based business meeting showed the interests – and emotion – this topic can generate.

Mark Wilson, (photo at left) President & CEO of the Florida Chamber of Commerce, spoke to attendees and stated that even though Hometown Democracy failed to obtain the necessary signatures to place the amendment on the November ballot, supporters will continue with the process in hopes of making it on the 2010 ballot.

Ryan Houck, Executive Director of Floridians for Smarter Growth and the point person in defeating the amendment, said, “Hometown Democracy isn’t smart or slow growth. It is no growth at all.” While speaking, Houck stressed that vigilance and focus is important in not becoming complacent about the issue. He stated, “Hometown Democracy is bad for hometowns and worse for democracy.”

Don Madden, (photo at right) Director of Organizational Development for the Coalition for Property Rights, spoke on their efforts to educate the public and elected officials on the importance of property rights. This concept has steadily eroded since the founding fathers incorporation of it as a basis for our political and economic system.

The association’s website is http://www.presidentscouncilfl.com/ or more information can be found at http://www.cfcar.net/.

For more information on CFCAR, please visit http://www.cfcar.net/

or call 407-816-7368.

CONTACT:

Jaclyn Whiddon
Blue Sky Partners, Inc.
407-948-9172
JWhiddon@BlueSkyPartners.com

Thomas D. Wood & Co. Brokers $2M Loan on Three Properties in Missouri and Florida

MIAMI, FL—Marshall Smith, (top right photo) Executive Vice President for Thomas D. Wood and Company, secured financing in the amount of $2,000,000 for Woodson Terrace, Charlotte Harbor and Delray Firestone.

All three properties were financed through StanCorp Mortgage Investors, one of Thomas D. Wood and Company’s correspondent lenders.

Smith arranged financing in the amount of $300,000 for Woodson Terrace at a permanent fixed rate of 6.10%. The loan term is 25 years with a 25-year amortization and interest rate resets every five years, and a loan-to-value of 53%. The 3,456 square-foot retail building was built in 1981 and is home to major tenant Denny’s. Woodson Terrace is located at 9900 Natural Bridge Road, St. Louis, Missouri.

Smith financed Charlotte Harbor in the amount of $1,000,000 at a permanent fixed rate of 6.10%. The loan term is 25 years with a 25-year amortization and interest rate resets every five years, and a loan-to-value of 47%.

The 46,767 square-foot retail building was built in 1973 and renovated in 2007. Charlotte Harbor is home to major tenant Rooms to Go, and is located at 4430 Tamiami Trail, Port Charlotte, Florida.

Smith arranged financing in the amount of $700,000 for Delray Firestone at a permanent fixed rate of 6.10%. The loan term is 25 years with a 25-year amortization and interest rate resets every five years, and a loan-to-value of 66%.

The 7,047 square-foot retail building was built in 1985. Delray Firestone is located at 5180 W. Atlantic Avenue, Delray Beach, Florida.

For further information, please contact:
Marshall Smith, (305) 447-7820, msmith@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Orlando Sanford International Airport Leases 14,400 Square Feet of Space on Hangar Rd.

SANFORD, FL. – Capital Cargo International Airlines, Inc., recently leased 14,400 square feet of space on Hangar Rd. at Orlando Sanford International Airport (top right photo) west of the main terminal.

Diane Crews, vice president of administration at Orlando Sanford International Airport, said the cargo air carrier plans to start operations at the airport in May.

For more information, please contact
Diane Crews or Larry Dale, Sanford Airport Authority, 407-322-7771Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

HFF Secures $13M in Financing for Marriott-branded Hotels in New Mexico and Maine

HARTFORD, CT – The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $13 million in financing for the Courtyard by Marriott (above photo) in Albuquerque, New Mexico and the Bangor Fairfield Inn (middle right photo) in Bangor, Maine.

HFF senior managing director Dana Brome (top right photo) and associate director Susan Larkin (middle left photo) worked on behalf of Ocean Properties, Ltd. to secure two separate seven-year, fixed-rate loans through ING Investment Management.

ING provided a $7.0 million permanent loan for the Albuquerque hotel and a $6.0 million permanent loan for the Bangor property on an uncrossed basis.

The Albuquerque Courtyard Marriott is located at 5151 Journal Center Boulevard close to Interstate 25 and Albuquerque International Sunport.

The property, featuring Santa Fe architectural design, has 150 guest rooms and 4,200 square feet of meeting and banquet space.

Located at 300 Odlin Road, the Fairfield Inn Bangor (photo at right) is a three-story, limited-service hotel located immediately adjacent to the Bangor International Airport and minutes from downtown Bangor. The property has 153 guest rooms and an indoor pool.

Ocean Properties Ltd, is one the largest privately-held hotel companies in North America, and was founded in 1969 by Mr. Tom Walsh.

With over 40 years of successful hotel management experience, Ocean Properties and its affiliate Atlific Hotels & Resorts have carefully built a network of properties that now stretch from the Atlantic Ocean to the Pacific Ocean in both the United States and Canada.

With a North American portfolio of over 100 properties both Ocean and Atlific are respected leaders in the hospitality industry and have gained the trust of the biggest hotel brands in the world including Marriott, Westin, Starwood, Holiday Inn, Hilton, Choice Hotels and Ramada.

CONTACTS:

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Dana E. Brome, HFF Senior Managing Director, 860 275 6199, dbrome@hfflp.com

Brooklyn Apartment Market's Recent Rapid Ascent Flattens Out, Although Vacancy Still Tight

BROOKLYN, N.Y.— With job growth easing and the possibility of job losses rising, the wheels of change are turning more slowly in Brooklyn thus far in 2008, according to a first-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

(Top right photo shows 19th century-styled rowhouses on tree-lined Kent Street in the Greenpoint Historic District. Photo courtesy of Wikipedia.)

Vacancy in the borough remains extremely tight, averaging in the low-3 percent range in the market’s few large, market-rate properties and even lower in rent-controlled units.

“Investor interest in rental properties remains high due to persistent demand for affordable housing,” says J.D. Parker, regional manager of the Brooklyn office of Marcus & Millichap.

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

· Employers are projected to add 1,000 jobs in Brooklyn this year, a 0.2 percent increase.

· Vacancy is forecast to end the year at 3.6 percent.

· Counting all multi-family projects, approximately 3,000 units are scheduled for delivery this year, with more than 1,300 units slated to come online in Brooklyn Heights, DUMBO, Boerum Hill, Downtown and Williamsburg.

· Asking rents are forecast to rise 4.5 percent to $1,436 per month.

· Effective rents are on track to gain 4.4 percent to $1,407 per month.

For a copy of the complete Brooklyn Apartment Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

Press Contact:

Stacey Corso, Communications Department, (925) 953-1716

Long-Term Outlook Remains Positive for Baltimore's Apartment Sector

BALTIMORE, MD — While an uptick in supply and cooling economic growth are expected to moderate near-term improvement in Baltimore’s apartment fundamentals, the long-term outlook remains positive, according to a first-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Construction activity is forecast to rise nearly 31 percent in 2008, with builders adding 1.3 percent to inventory.

“Despite some short-term fundamental weakness, Baltimore’s apartment market is poised to remain strong in the long term,” says Gary R. Lucas, (top right photo) regional manager of the Baltimore office of Marcus & Millichap.

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

· Employers are predicted to expand payrolls by 0.6 percent, or 6,600 positions, this year.

· Approximately 1,700 units are forecast to come online in 2008, up from the delivery of 1,300 units last year.

· Vacancy is forecast to end the year at 5.5 percent.

· Asking rents are expected to advance 3.7 percent to $1,002 per month, while effective rents will climb 3.9 percent to $968 per month.

· Properties near Fells Point will record some increased investment activity as a result of ongoing mixed-use redevelopment efforts.

For a copy of the complete Baltimore Apartment Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

Press Contact:

Stacey Corso, Communications Department, (925) 953-1716

MBA's Quinn Calls for Quick Conference on Flood Insurance Bill

WASHINGTON, D.C.-- Kieran P. Quinn, (top right photo) CMB, Chairman of the Mortgage Bankers Association (MBA) has welcomed Senate passage of S. 2284, The Flood Insurance Reform and Modernization Act of 2008, and called on House and Senate leadership to quickly begin negotiations to reconcile the two chambers' bills so that a bill can advance to the President's desk this summer.

Quinn issued the following statement:

"MBA strongly supports a long-term reauthorization of the National Flood Insurance Program, forgiveness of FEMA's debt to the Treasury and an increase in the coverage limits for multifamily properties. An affordable flood insurance program is crucial to communities across our nation.

We do have concerns with some specific provisions of the bill the Senate passed today and we hope members of the House Financial Services Committee and the Senate Banking Committee quickly begin negotiations to reach a compromise.

In particular, we hope negotiators will look carefully at the increased penalties for non-compliance, the mandatory purchase provision for state chartered institutions, the creation of a reserve fund, the prerequisite for mandatory escrow, new requirements around pre-FIRM and residual risk properties and new disclosure obligations.

We fear these provisions may have the unintended consequence of limiting the availability and increasing the cost of insurance for many who need it. Therefore, we look forward to working with members of the House and Senate to come up with a bill that can pass both chambers and the President can sign into law."

CONTACT:

John Mechem, (202) 557-2924, jmechem@mortgagebankers.org

HFF Self Storage Team Hosts Inaugural Storage Investor Caucus

HOUSTON, TX – The self storage professionals of HFF (Holliday Fenoglio Fowler, L.P.) hosted the Storage Investor Caucus (SIC) on May 1st at the Downtown Club (middle left photo) in Houston. Sixty storage owners, investors and affiliated industry professionals attended the full-day event.

Moderated by HFF senior managing director Aaron Swerdlin (top right photo) who leads the Houston-based HFF Self Storage team, the SIC program included a keynote capital markets overview presentation by HFF executive managing director Mark Gibson, capital markets and real estate panels featuring senior executives from eight lending organizations and property development firms/REITs, and roundtable discussions addressing many current self storage investment and real estate issues.

“The SIC convened top self storage operators, investors, portfolio owners, lenders and suppliers for a content-driven seminar covering the latest real estate and capital markets developments affecting our industry,” said Swerdlin.

“The event’s attendance level exceeded our expectations and we believe is indicative of the strong interest by owners and investors for diverse, expert knowledge and direction about current market conditions.”

The SIC Capital Markets Panel consisted of:

· Cheri Grossman, Regional Director of Investments, Wrightwood Capital
· Rich Highfield, Principal, Real Estate Structured Finance Group, Bank of America
· Clay Wright, Vice President and Relationship Manager, Capital One
· Jeff Zickefoose, Director, Prudential Mortgage Capital Company

The SIC Real Estate panelists included:

· Bret Durfee, Vice President, Extra Space Storage (logo at right)
· Wayne Johnson, Senior Vice President – Acquisitions, Strategic Storage Trust
· Phyllis McArthur, Executive Vice President & Chief Financial Officer, Morningstar Properties
· Tony Rider, Chief Financial Officer, Locke Acquisition Group, LLC (The Locke Group)

The SIC was sponsored by 1st Service Solutions, The Mahoney Group, Property Tax Advisors and The Rabco Corporation.

“The positive feedback we received from attendees, panelists and sponsors convinced us that owners and investors highly value this type of seminar because they can capitalize on the insight provided during the sessions to help maximize their storage investments," Swerdlin added.

"Given this response, the HFF Self Storage team will host another Storage Investor Caucus later this year in Southern California that will focus on West Coast-related real estate and capital markets conditions."

CONTACTS:

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Aaron Swerdlin, HFF Senior Managing Director, 713 852 3500, aswerdlin@hfflp.com

PKF Study Shows Unit-Level Hotel Profits Grew 7.2 Percent in 2007

Profit Growth Expected to Slow to 2.9 Percent in 2008

ATLANTA, GA– PKF Hospitality Research (PKF-HR) announces the average hotel in its 2008 edition of Trends in the Hotel Industry survey enjoyed a 7.2 percent gain in Net Operating Income (NOI) in 2007.

While this bottom-line improvement was more than twice the pace of inflation for the year, the single-digit gain was the lowest year-over-year increase since 2004 and is further evidence of a projected slowdown in hotel income that PKF is forecasting for the near future.

“Throughout 2007, hotel owners and operators were increasingly concerned about downtrending occupancy levels compared to 2006 and a slower pace of ADR growth, and their potential impact on 2007 profitability. Despite these concerns, year-end results indicated that the typical U.S. hotel was able to achieve gains in revenue and profits above their respective long-term averages,” said Mark Woodworth, (top right photo) president of PKF Hospitality Research.

“2008 may be a different story in view of the difficult economic outlook for the remainder of this year, and the dampening effect it will have on U.S. hotel revenue growth. Managers will be hard pressed to grow profits in 2008.”

According to Smith Travel Research, RevPAR was up just 1.9 percent through the first quarter of 2008 compared to the same period in 2007.

With poor prospects for summer travel, the second quarter 2008 Hotel Horizons report of PKF Hospitality Research is forecasting an annual increase in RevPAR of just 1.5 percent. This RevPAR forecast is the result of a projected 2.5 percent decline in occupancy, combined with a 4.0 percent increase in ADR.

(The complete Trends report is available at PKF's web site, www.pkfc.com/USALIchanges. Additionally, a complete copy of the PKF news release may be obtained from the contacts below)

CONTACTS:

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

Chris Daly or Jerry Daly (media), Daly Gray Public Relations, 620 Herndon Parkway, Suite 115, Herndon, VA 20170, T 703 435 6293

Mark Woodworth, President, PKF Hospitality Research, 3475 Lenox Road, Suite 720, Atlanta, GA 30326, T 404 842 1150, Ext. 222.