First Team Real Estate Adds RealtyTrac Foreclosure Data to its Consumer Web Site

IRVINE, CA — RealtyTrac (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, and First Team Real Estate (http://www.firstteam.com/), the #1 independent real estate brokerage in southern California, announceS a strategic alliance that will allow consumers using the First Team website to search for foreclosure properties.

The foreclosure search is seamlessly integrated into the First Team website’s “Find a Home” feature and allows users to browse real-time foreclosure data furnished by RealtyTrac.

First Team agents receive leads from consumers who fill out a free registration form for more detailed access to the foreclosure listings or fill out a contact request form to get help with a specific property.

“With foreclosure activity on the rise nationwide and in Southern California, it is a logical extension of First Team’s business model to include foreclosure information on its website along with the MLS information it already provides,” said Rick Sharga, (middle left photo) VP of Marketing for RealtyTrac.

“By adding foreclosures to its product line, First Team is providing consumers with valuable information while also giving its agents an opportunity to add a potential income stream to their businesses during today’s difficult real estate market.”

This new comprehensive property search feature allows the public access to properties in all three stages of the foreclosure process — pre-foreclosure, auction and bank-owned (known as REOs).

Conducting a property search in this manner is convenient for consumers who are seeking to find bargain properties.

At the same time it allows First Team real estate professionals a chance to offer these would-be home buyers assistance in navigating this complex area of real estate.

“Teaming up with RealtyTrac has provided us with an opportunity to grow the scope of our real estate web services on a grand scale, thus demonstrating our commitment to providing the public with the best information the industry has to offer,” said Cameron Merage,(top right photo) Founder, President and CEO of First Team Real Estate.

“The foreclosure search feature is just the latest of many consumer-friendly search tools we provide from our home page. We are particularly excited about the extra functionality this partnership brings to the table as we continue to seek opportunities to grow our business in the future.”

As the foreclosure trend continues to gain momentum, more and more First Team agents have added foreclosures, short sales and bank-owned (REO) properties to the arsenal of real estate services they offer to the public.

CONTACT: Tammy Chan, Atomic PR, 415-402-0230, tammy@atomicpr.com

HFF arranges $15.7M in financing for Boca Raton industrial facilities

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $15.7 million refinancing for eight industrial/warehouse facilities totaling 203,578 square feet in Boca Raton, Florida.

Working exclusively on behalf of Lewis Rental Properties, HFF managing director Fred Welker (top right photo) placed two fixed-rate loans with Wells Fargo Commercial Mortgage Originations.

An $8.2 million loan was secured for the South Congress Warehouses (bottom right photo) and a $7.5 million loan was arranged for the Boca Design Center Phase I (photo at left) .

Both financings are replacing existing loans with Wells Fargo that were to terminate in 2008. Lewis Rental Properties, with a home office in Boca Raton, has been providing rental warehouse space for the small industrial storage user in the Boca Raton and Deerfield Beach markets for over 30 years.

The South Congress Warehouses consist of three fully leased warehouse buildings totaling 118,800 square feet. The properties are located at 1101, 1121 and 1141 Holland Drive in Boca Raton.

The Boca Design Center Phase I includes five warehouse/flex buildings totaling 84,778 square feet with a 269-unit self-storage facility. The warehouse buildings are 100% occupied and the self-storage units are 90% leased.

Located at 3100 Boca Raton Boulevard, the properties are the first phase of a two-phase existing development in Boca Raton.

“South Congress and Boca Design Center Warehouses have enjoyed high occupancies for over a decade. This is attributable to a very experienced leasing and management team at Lewis Rental Properties combined with the excellent locations close to Interstate 95 in Boca Raton,” said Welker.

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:

FRED E. WELKER III, HFF Managing Director, (305) 448-1333, fwelker@hfflp.com

LAURIE FISH MCDOWELL, HFF Associate Director, Marketing (617) 338-0990 lmcdowell@hfflp.com

50% Pre-Leased at Park Plaza Professional Center in Pembroke Pines

PEMBROKE PINES, FL/PRNewswire/ -- Sky Development Inc. announces that it has already received commitments to lease approximately 50% of the first of two Class A medical office buildings and garage facility for Park Plaza Professional Center at 2201 North University Drive, Pembroke Pines, Florida 33024, adjacent to Memorial Hospital in Pembroke Pines.

Yizhak Toledano (top right photo) is chief executive officer of Sky Development.

The medical/professional office complex, with smart building technology and other attractive features such as impact glass, is adjacent to Memorial Hospital Pembroke Pines, (bottom left photo) which has been designed for LEED, environmentally green certification.

The medical office complex will be the first LEED building for the City of Pembroke Pines, Florida.

Sky Development COO Gavin Susman indicated that tenants secured for the project could not be specifically named but include leading medical professionals from the area. Leasing of the project began in June.

"There has not been any new and advanced medical office buildings constructed in the area since the 1960s, and the area doctors have had to make due with old infrastructures to house their practices," Susman says, "Some of these local medical practitioners have expressed interest in moving to a newer medical facility."

The project, on 9.77 acres, is being developed by locally based Sky Development Inc., and will consist of two four story, 80,000 SF buildings with retail on the first floor.

The parking facility is a four-story building with 538 parking spaces to be accompanied by an additional 288 surface parking spaces.

The efficient floor plans will range from 1,500 to 20,000 SF and will offer attractive tenant improvement allowance.

Equity Inc. headquartered in Columbus, Ohio, is the exclusive leasing agent for the project and Coral Gables based Edward Lewis Architects is the project architect.The project will be constructed in two phases with construction of the first building to begin late 2008, and the second building mid 2009 along with the garage.

For Leasing information, please email info@parkplazaprofessional.com or call 305-933-4646. www.parkplazaprofessional.com

CONTACT:

Yizhak Toledano of Sky Development Inc., +1-305-933-4646

Web site: http://www.skydevelopmentinc.com/

http://www.parkplazaprofessional.com/

Florida Division of Clancy & Theys Construction Co. ranked 57th largest contractor, according to Building Design + Construction magazine

ORLANDO, FL – The Florida Division of Clancy & Theys Construction Company, Orlando, announced the Raleigh, NC-based company is now ranked as the nation’s 57th largest contractor according to Building Design + Construction magazine’s Giants 300 survey published July 2008.

The company reported 2007 revenues of $563.5 million, a 15% increase over the prior year when it ranked 59th based on 2006 revenues of $491.8 million.

Its Florida Division is led by Pete Pace, (top right photo) a 24-year Florida construction veteran who serves as CEO for statewide operations as well as vice president of the corporation.

“At Clancy & Theys,” said Pace, “we are exceptionally client-focused and measure success by the level of service we provide our clients.”

Under Pace’s leadership, the local division received the Associated General Contractors’ Project of the Year Award and an Associated Builders and Contractors’ Eagle Award for its work at the new $25 million, 190,000-square-foot NASA Operations Support II office building at Kennedy Space Center. (photo at left)

Clancy & Theys Construction Company, founded in 1949, operates five divisions in the Southeast including Orlando, FL, Charlotte, NC, Raleigh, NC, Wilmington, NC, and Newport News, VA.

The Florida division has been in operation since 1991, specializing in construction management, design/build, and general contracting for the commercial, municipal, distribution, education and resort markets. The division is located at 7308 Greenbriar Parkway, Orlando, FL 32819, telephone 407-578-1449. The company’s website is http://www.clancytheys.com/.

Contact: Kenneth H. Cristol 407-774-2515

Baltimore Hotel Corp.'s 'BBB-' Rating On $247.5M Bond Issue Placed On Watch Negative

NEW YORK, NY--Standard & Poor's Ratings Services has placed its 'BBB-' underlying rating on the Baltimore Mayor and City Council, Md.'s $247.5 million convention center hotel (Hilton Baltimore top right photo) senior revenue series 2006A bonds on CreditWatch with negative implications.

The CreditWatch reflects the bonds' ties to the ratings on XL Capital Assurance Inc. (BBB-/Watch Neg/--), which provides the surety for the series 2006A bonds and the debt service reserve fund (SR DSRF).

At the same time, we affirmed our 'BB' rating on the council's $53.44 million convention center hotel subordinate revenue series 2006B bonds, which have a stable outlook.

The council issued both series of bonds for the Baltimore Hotel Corp.

For a complete copy of the S&P release, please contact Mimi Barker, New York (1) 212-438-5054, mimi_barker@standardandpoors.com

Analyst Contacts:
Jodi E Hecht, New York (1) 212-438-2019
Matthew Hobby, New York (1) 212-438-6441

Office Completions and Absorption Decelerate in Atlanta

ATLANTA, GA — Atlanta office fundamentals are expected to soften this year as modest deliveries are met with conservative leasing activity and a less robust economy, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

The first quarter of 2008 marked the first time in three years that the local office market recorded negative absorption, and vacancy edged higher in the second quarter as well.

“Institutional investors will continue to exercise caution when making acquisitions, although activity could pick up if the national economy steadies later this year,” says John Leonard,(top right photo) regional manager of the Atlanta office of Marcus & Millichap.

Following are some of the most significant aspects of the Atlanta Office Research Report:

· Employers will add 1,000 new jobs in 2008.
· Developers are forecast to bring 1.9 million square feet of new office space to Atlanta this year.
· Vacancy is projected to finish the year at 16 percent.
· Asking rents are forecast to increase 2.4 percent to $21.70 per square foot.
· Effective rents will climb 2.2 percent to $18.18 per square foot.

For a copy of the complete Atlanta Office 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

Strong Employment growth Bolsters Austin, TX Office Market

AUSTIN, TX — The Austin office market will record mixed fundamentals throughout the rest of this year as speculative construction outpaces demand; however, the metro’s long-term outlook remains favorable, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

(Austin City Hall, top right photo)

Despite the recent uptick in vacancy, 2008 has already marked a significant milestone for office owners, with the metro’s average rents surpassing peaks attained during the tech boom earlier this decade.

“Unlike the national trend, sales velocity in Austin has accelerated in recent months, indicating a vibrant investment climate through the end of the year,” says Bradley H. Bailey, regional manager of the Austin office of Marcus & Millichap.

Following are some of the most significant aspects of the Austin Office Research Report:

· Employers in Austin are projected to add 10,000 positions this year to expand payrolls by 1.3 percent, one of the highest rates in the country.
· Building activity in Austin will peak in 2008 with the completion of 1.9 million square feet of mostly speculative space, representing an increase to office inventory of approximately 5 percent.
· Vacancy is forecast to end the year at 17.3 percent. · Asking rents are expected to rise 5.6 percent to $26.66 per square foot.
· Effective rents will increase 4.1 percent to $22.76 per square foot.

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

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

Phillips Development & Realty Catapults into Cary, NC Market

PDR Closes on Land for "Phillips Swift Creek"

CARY, N.C. /PRNewswire/ -- Phillips Development & Realty, LLC (PDR) closed on 13.2 acres for its Phillips Swift Creek apartment project in Cary, N.C., a market with high barriers to entry.

Headquartered in Tampa, Fla., PDR solidified the property in November 2007, and anticipates construction of the $20 million+, garden-style development to begin in the third quarter of 2008.

Close to downtown Cary on the Northeast corner of Old Apex Rd. and West Chatham St., the project marks another successful penetration into a challenging area to acquire multifamily entitlement.

"Phillips Swift Creek's 2008 construction start contributes to our burgeoning project pipeline," said PDR Managing Director Donald Phillips (top right photo).

"We made progress in Cary by maintaining PDR's core disciplines, including site selection excellence and strong partner relationships. We are pleased to add another new development to our portfolio in a prosperous location not many have successfully penetrated."

For more information, visit http://www.phillipsdevelopment.com/.

CONTACT:

Allison Fogt, +1-850-878-5531, Ext. 223, afogt@Kidd.com, forPhillips Development & Realty, LLC

Web site: http://www.phillipsdevelopment.com/

The Pointe at Chapel Hill--Engler Financial Group Exclusive Offering

ATLANTA, GA--Engler Financial Group presents The Pointe at Chapel Hill,(top right photo) an upscale 240 unit apartment community located in the affluent City of Chapel Hill, North Carolina.

The property's ideal location has outstanding proximity to the University of North Carolina at Chapel Hill, Duke University in Durham, two major research hospitals and the Research Triangle Park

The Pointe at Chapel Hill is being offered for sale on an unpriced basis and represents an excellent opportunity to purchase a well-located Class "A" apartment community in an extremely desirable market with high barriers to entry.

Tours will begin next Thursday, August 7th and continue through Friday, August 22nd.

Property highlights include:

The Pointe at Chapel Hill benefits from an outstanding location off SR 86 approximately one half mile south of Interstate-40. Downtown Chapel Hill and the University of North Carolina campus (27,700 enrollment) and the UNC Hospital are conveniently located approximately three miles south of the property.

Duke University (12,400 enrollment) and the prestigious Duke Medical Center are located in Durham approximately eight miles east of The Pointe at Chapel Hill. The University of North Carolina, UNC Hospital, Duke University, and the Duke Medical Center (bottom right photo) combined employ approximately 48,750 people.

Research Triangle Park (RTP), located ten miles southeast of the property, is the largest planned research park in the nation. RTP represents an investment of over $2 billion, with more than 240 major research, technology, and development organizations employing an estimated 45,000 fulltime workers.

Chapel Hill has historically been one of the best performing submarkets in the overall Raleigh-Durham region. As of January 2008, Chapel Hill's average rent of $0.87 per-square-foot ranked highest among Raleigh-Durham's twelve apartment submarkets.

In addition, Chapel Hill's 5.6% average vacancy rate also ranked among the lowest of any individual submarket in the metropolitan area. Five competitive properties surveyed in July 2008 for comparison to The Pointe at Chapel Hill had market rents which ranged from $1.00 to $1.17 per-square-foot, with occupancies ranging from 92% to 97%.

If you have an interest in pursuing this outstanding investment opportunity, please execute an electronic Confidentiality Agreement on Peracon.

Click to view the Asset Teaser

If you have any questions or would like to schedule a tour of The Pointe at Chapel Hill, please contact Greg Engler, Pat Jones or Kris Mikkelsen. We look forward to working with you on this exciting opportunity.

CONTACTS:
Greg Engler, CEO/President, 678/992-2000, ext. 1, gengler@efgus.com
Pat Jones, Senior Vice President, 678/992-2000, ext. 2, pjones@efgus.com
Kris Mikkelsen, Senior Associate, 678/992-2000, ext. 4, kmikkelsen@efgus.com

Hodges Ward Elliott Announces Sales of Rockland Radisson and Milford Sheraton

Firm’s First-Half 2008 Sales in Excess of $1 Billion


ATLANTA, GA—Hodges Ward Elliott (HWE), the nation’s premier hotel brokerage and investment banking firms, has announced the sales of the 127-room Rockland Radisson Hotel (top left photo)) and the 173-room Milford Sheraton Hotel (middle right photo).

Both properties are located in Massachusetts and were sold to the Linchris Hotel Corporation on behalf of Ashford Hospitality Trust.

“The Massachusetts marketplace remains much in demand among hoteliers, with its high barriers to new entry and top-tier destination locations,” said Bill Hodges (top right photo), principal of Hodges Ward Elliott.

“While the economy has cooled, we continue to see large numbers of interested buyers and sellers in the hotel industry, with our firm’s transactions exceeding $1 billion through June. The expectations gap between buyers and sellers has begun to narrow, which should positively impact the level of sales going forward.”

“The transaction was complicated by several factors, not to mention the challenging economic environment, but the buyer and seller worked through them in a highly professional manner,” said Hodges Ward Elliott's Tim Southard, (bottom left photo) who worked closely with the buyer.

Founded in 1975, HWE is the world’s leading hotel brokerage and investment firm, completing more than $21 billion in hospitality real estate and investment banking transactions over the past 11 years.

The company provides brokerage and investment banking services through four divisions: the HWE Full-Service/Luxury Hotel and Resort Division, which concentrates on assets valued at greater than $10 million; the International Division, which provides hospitality real estate services through its London office, the Focused-Service Division, which concentrates on hospitality transactions up to $10 million and the Golf Division.

Contacts: Jerry Daly or Chris Daly, Daly Gray Public Relations, ph: 703-435-6293

GVA Advantis Represents Security Storage Co. in Sale of 621 North Payne St. in Alexandria, VA

WASHINGTON, D.C. - - GVA Advantis is pleased to announce a recent investment sales transaction in Alexandria, Virginia, in the amount of $18,000,000.

Don Mercer, SIOR, executive director, and Ryan Moody, director, of the Tysons Corner office of GVA Advantis represented Security Storage Company of Washington, (headquarters building top right photo) the Seller, in the transaction. The Buyer, an affiliate of Erkiletian Construction Company LLC, was represented by Erkiletian Real Estate Services, LLC.

Founded in 1890, and one of the oldest international relocation companies in the world, Security Storage Company of Washington sold 621 North Payne Street, for $18,000,000, or $182/SF.

The Property is a 99,000 SF warehouse building located at 621 North Payne Street in Alexandria, Virginia. Erkiletian Construction Company has been building in the area for over thirty years, and plans to redevelop the warehouse as multi-family residential housing.

Media Contact: Tonya Ginter, 703.790.2127, tginter@gvaadvantis.com


GVA Advantis, 1747 Pennsylvania Avenue, NW, Suite 1100, Washington, DC 20006

Industrial Team at Southern Commercial Completes New 4,800-SF Lease

ORLANDO, FL.-- Principals William “Bo” Bradford, CCIM, SIOR and Tom McFadden, SIOR of Southern Commercial Real Estate Advisors completed a 4,800 square foot new lease at Vantage Point (top left photo) located at 576 Monroe Road in Sanford.

Bradford and McFadden represented the landlord, GID Investment Advisors and negotiated the seven year new lease. The tenant, Hulke Construction was represented by Kaycee Kapels with Jones, Lang & LaSalle.

Media Contact: Celeste MacKenzie, Southern Commercial Real Estate Advisors, 20 N. Orange Avenue, Suite 605, Orlando, FL 32801. PH 321-281-8503
cmackenzie@southercommercialre.com

Marcus and Millichap Sells a 263 Room Hotel/Motel Property

ALTAMONTE SPRINGS, FL- – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Holiday Inn Altamonte Springs,(top right photo) a 263 room Hotel/Motel property located in Altamonte Springs, FL, according to Steven M. Ekovich, First Vice President/Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $9,500,000. Jaimin Patel, Senior Associate and Niven Patel, Associate had the exclusive listing to market the property on behalf of the seller, Citi Hospitality, LLC.

The buyer, Jade Hospitality, LLC, was secured and represented by Jaimin Patel, Senior Associate and investment specialist in Marcus & Millichap’s Tampa office.

Holiday Inn Altamonte Springs is located at 230 West Highway 436, Altamonte Springs, FL. This property will be converted to a Clarion Hotel.

Press Contact:

Steven M. Ekovich, First Vice President/Regional Manager, Tampa(, 813) 387-4700

HFF secures financing for southern California multifamily properties

SAN DIEGO, CA – The San Diego office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged financing for Sommerset La Costa, a 48-unit multifamily community in Carlsbad, and Monarch Terrace Apartments (top right photo) a 56-unit multifamily community in Glendale, California.

HFF senior managing director Tim Wright (top left photo) and associate director Pat Burger worked on behalf of a joint venture between an investor portfolio advised by the US real estate business of UBS Global Asset Management and Silverado Canyon Partners, LLC to secure two five-year loans through Aetna Life Insurance Company. The fixed-rate loans were structured as acquisition and renovation bridge loans.

Sommerset La Costa is located at 2937-2949 Unicornio Street at the corner of Alga Road and El Fuerte Street in La Costa, a submarket of Carlsbad. The fully-leased, condo-mapped property has six residential buildings with 48 two-bedroom/two-bath units. Each unit has its own garage and there is a community swimming pool and leasing office on-site.

Located at 1595 East Chevy Chase Drive in Glendale, Monarch Terrace Apartments has easy access to the Ventura and Glendale Freeways and is situated across the street from the Glendale Adventist Medical Center.

The three-story property has an interior garden-style configuration with studio, one- and two-bedroom units averaging 759 square feet each. Community amenities include a gated pool, underground parking garage, laundry facilities and storage space.

“Both Sommerset La Costa and Monarch Terrace Apartments will undergo significant exterior and interior renovations that will raise Sommerset up to a Class A property and Monarch Terrace to a Class B in their respective submarkets,” said Wright.

Silverado Canyon Partners, LLC currently owns five apartment properties totaling 473 units in Southern California.

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:

Timothy Write, HFF Senior Managing Director, 858 552 7690, twright@hfflp.com

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