Thomas D. Wood Brokers $13.16M in Two New Loans

Two Publix Stores in Stockbridge and McDonough, GA Get $12M Financing

MIAMI, FL— Steve Wood (top right photo) and Alan R. Cohen (top left photo) of Thomas D. Wood and Company secured financing in the amount of $12,000,000 for two Publix stores in Stockbridge and McDonough, Georgia.

Both properties were financed through Thomas D. Wood and Company’s relationship with a regional banking institution.

Wood and Cohen arranged financing in the amount of $6,100,000 for Publix at McDonough West, and $5,900,000 for Publix at Stockbridge Village Lakes, at a floating rate of LIBOR + 225 basis points. The 35-month, interest-only loan has a loan-to-value of 75%.

Publix at McDonough West is an 80,773 square-foot anchored shopping center, built in 2001 and located at 250 Jonesboro Road, McDonough, Georgia. Publix at Stockbridge Village Lakes is a 78,605 square-foot shopping center, built in 2002 and located at 250 East Atlanta Road, Stockbridge, Georgia.

For further information, please contact:

Steve Wood. (305) 447-7820, swood@tdwood.com
Alan R. Cohen, (305) 447-7820, acohen@tdwood.com
Jessica Gurtowski , (407) 937-0470, jgurtowski@tdwood.com

TD Wood and Bison Financial Group Complete $1.16M Acquisition Loan in Largo, FL

MIAMI, FL--Steve Wood of Thomas D. Wood and Company, along with Jared Repka of Bison Financial Group, secured financing in the amount of $1,160,000 for the acquisition of Family Dollar in Largo, Florida.

The loan was financed through a regional banking institution at a permanent fixed rate of 6.0%. The loan term is five years with a 25-year amortization, and a loan-to-value of 72.57%.

The 10,070 square-foot single-tenant retail building was refurnished for the tenant in 2007. Family Dollar is located at 2862 Roosevelt Boulevard, Largo, Florida.

CONTACT:

Steve Wood, (305) 447-7820, swood@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

GVA Advantis Negotiates $1.4M Sale of Parcel Near Proposed Courthouse Site in Downtown Jacksonville, FL

JACKSONVILLE, FL – (August 5, 2008) – GVA Advantis represented the Raabe Family Property, LLC in the sale of a .51-acre parcel in downtown Jacksonville, Duval County, Fla., for $1,400,000.00 or $63.49 per square foot. The 22,050-square foot parcel is located directly across the street from the site of the proposed new county courthouse. (above centered rendering)

Monte Merritt, (top right photo) senior director for GVA Advantis, exclusively represented the seller, Raabe Family Property, LLC, a company based in St. Petersburg, Fla.

The buyer, Manhattan Condominium Development, Inc., is a Florida corporation based in Miami and was represented by Nancy Link, an independent Miami broker, in the transaction.

“This sale shows the revitalizing interest in the area surrounding the site of the new location for the much-anticipated new Jacksonville courthouse complex,” says Merritt. “The site was purchased on speculation that it might be used for downtown parking until the courthouse is constructed,” he adds.

Situated at the southeast corner of West Adams Street and Broad Street, the property is located in the heart of Jacksonville’s Central Business District. The vacant parcel was known as 516 West Adams Street before the building previously on the property was torn down.

CONTACT:

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

Sikon Construction Starts New Publix at Canyon Lakes Retail Center in Boynton Beach, FL

BOYNTON BEACH, FL – Deerfield Beach-based SIKON Construction Corporation, one of the nation’s leading retail contractors, is under way on the new multimillion-dollar Publix at Canyon Lakes retail center on West Boynton Beach Boulevard in Boynton Beach, FL, under its contract with GL Commercial, Sunrise, FL.

Designed by Saltz Michelson Architects, Fort Lauderdale, the project will consist of a 54,000-square-foot Publix Super Market and approximately 17,000 square feet of retail space according to longtime Florida construction veteran Dale E. Scott, (top right photo) Senior Executive Vice President of SIKON. Completion in slated for December 2008.

SIKON is headquartered at 431 Fairway Drive, Deerfield Beach, FL 33441, phone 954-354-8338. For more information, visit the company’s website at http://www.sikon.com/.

Contact: Kenneth H. Cristol 407-774-2515

Now Not a Good Time for Procrastination, Cambridge Advises Healthcare Borrowers

CHICAGO, IL, Aug. 5, 2008--A new Bloomberg News survey predicts that economic expansion in the fourth quarter will most likely slow to the weakest pace observed in six years, and this may not be as bad as it gets.

At Morgan Stanley Co., Richard Berner,(top left photo) co-head of global economics, describes the credit crunch, record energy costs and declines in payrolls and house prices as a “perfect storm” that figures to wash the economy into a recession during the fourth quarter once the tax stimulus package loses its effectiveness as a flotation device.

Apparently on board with this projection are Federal Reserve policy makers who have been indicating they’ll put off raising interest rates until next year unless a very unlikely scenario unfolds.

“This,” says funding expert Jeffrey A. Davis, (middle right photo) “is one of those times when it’s difficult to find encouraging words for the economy -- of any kind. But it may still be possible for senior housing/healthcare owner/operators to get something productive done in the financial arena.

“With the economy floundering, interest rates have continued to decline. In a dramatic example, the one month LIBOR index rate, which is one of the factors banks consider when setting rates on conventional mortgages, was 2.46 percent early in July, compared with 5.32 percent a year earlier,” he noted.

Davis is Chairman of Cambridge Realty Capital Companies, one of the nation’s leading senior housing healthcare lenders. The company has consistently ranked among the top HUD Section 232 healthcare lenders and optionally offers various conventional funding options as well.

For a boatload of reasons, Davis thinks it’s unlikely mortgage rates will move as low as they did the last time the Fed pushed the short-term federal funds rate to current levels. Waiting for this to happen may not be realistic.

“What borrowers need to focus on is the fact that mortgage interest rates are probably scraping bottom for this particular cyclical phase and remain attractive by historical standards. Looking back on this period from the future, it may be fairly obvious that this was not a particularly good time for financial procrastination,” he noted.

CONTACT: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com

Madison Capital Closes $63M Non-Recourse Construction Loan for Mixed-Use Project in Plantation, FL

August 5, 2008/Miami, FL - Madison Capital Group, LLC ("Madison"), acting as exclusive financial advisor to American Land Ventures, has arranged a $63 million non-recourse construction loan for The Residences at the Fountains (top right photo) , a 251-unit luxury mid-rise apartment community with ground floor retail in the Midtown District of Plantation, Florida, one of Broward County's most affluent suburbs.

(Madison managing director Timothy E. Martorella is at top left photo)

Madison had already arranged equity financing for the project earlier this year. The Residences at the Fountains is the first phase of a two phase residential development with construction anticipated to start immediately with occupancy expected in 2010.

With the development of The Residences at the Fountains, American Land Ventures continues to be on the forefront of residential development trends.

Recognizing the strong local economy and the lack of recently completed multifamily product in Plantation, American Land identified an underutilized surface parking lot in the heart of Plantation's Midtown District as a prime redevelopment opportunity.

American Land Ventures was able to create significant value by gaining support from the City for the redevelopment, obtaining necessary governmental approvals and creating an integrated plan that should result in higher returns for the existing retail and new residential development.

"The Residences at the Fountains will be a residential community fully integrated in the neighboring retail, office and hospitality components creating a mixed-use urban village in the heart of Plantation's core economic hub, the complimentary nature of the uses should result in more efficient parking and traffic management as well as returns greater than the market because of the mix of uses" said Granvil Tracy, (middle right photo) principal of American Land Ventures.

"When completed, this development will be among the highest quality apartment communities in Broward County and is representative of the current trend of non-CDB luxury urban living options. Our role in this transaction illustrates Madison's ability to continue to close financing for our clients despite the current difficult financing markets," explained Timothy E. Martorella,(photo top left) Managing Director at Madison Capital Group.

Madison Capital Group, LLC is a real estate investment and merchant banking firm based in Miami. The firm has a product focus on apartments, condominiums, and mixed-use projects and offers a broad range of financial and transactional capabilities to owners of existing or to-be-developed properties and land suitable for these types of development. The firm has closed transactions of all these types for projects in excess of $2 billion in the last four years

American Land Ventures, LLC is a Miami-based multi-family developer and owner, having developed more than 3,500 high-rise, mid-rise and garden apartments and condominiums in Florida.

The firm specializes in urban infill projects and has recently completed The Peninsula, a 234-unit luxury high-rise condominium community in downtown Jacksonville. American Land also recently completed Phase II of the New River Village development, a 409-unit luxury project located in Downtown Fort Lauderdale on the New River.

TRANSACTION TEAM
Timothy E. Martorella, Managing Director, 305.375.9110 x 116, tm@madison-capital.com
Adam Cappel, Vice President, 305.375.9110 x 109, acappel@madison-capital.com
__________________________
Madison Capital Group, LLC, 800 Brickell Avenue, Penthouse 3, Miami, FL 33131

305.375.9110 (PH) 305.375.9153 (fax)

GVA Advantis Negotiates 9,715-SF Long-Term Lease Renewal for Collman & Karsky Architects in Fountain Square Centre, Tampa, FL

TAMPA, Fla. – (August 5, 2008) – GVA Advantis is pleased to announce it has negotiated a 9,715-square foot long-term lease renewal in Fountain Square Centre (bottom right photo) for Collman & Karsky Architects, Inc. in Tampa, Hillsborough County, Florida.

Vince La Mariana, (top right photo) senior director of office and industrial services with GVA Advantis, negotiated the transaction on behalf of the property owner, a Utah-based investment group. The tenant, Collman & Karsky Architects, Inc, was represented by CLW Real Estate Services Group.

“We are extremely pleased Collman & Karsky Architects will continue to enjoy a long-term tenancy at Fountain Square Centre,” says La Mariana.” Collman & Karsky Architects offers comprehensive architectural and interior design services for high-tech, financial, university, healthcare, commercial, religious and public market sectors (http://www.collman-karsky.com/).

Fountain Square Centre is a four-story, 97,155-square foot multi-tenanted Class A office building located at 4301 Anchor Plaza Parkway, just off the Eisenhower and Veterans corridor near the Rocky Point area of the Westshore submarket of Tampa. Built in 1999, the property is 98.3% occupied and is exclusively leased and managed by GVA Advantis.

CONTACT:

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

Marcus & Millichap Arranges Sale of Eleven 20 Club in Oak Park, IL for $15.8M

OAK PARK, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the Eleven 20 Club (top right photo), a 63,256-square foot retail center in Oak Park.

The sales price of $15.8 million represents $250 per square foot.

Evan Halkias, a senior associate in the Chicago Downtown office of Marcus & Millichap, and Michael Marks, a senior associate also in the firm’s Chicago Downtown office, represented the seller and the buyer in this transaction.
“Eleven 20 Club was an excellent opportunity for the investor to acquire a newly constructed retail center with prominent tenants in a high-density, heavily trafficked area in Chicago’s prominent suburb of Oak Park,” says Halkias.

Located at 1120 Lake St., Eleven 20 Club features retail tenants Bar Louie and Lane Bryant on the first floor and Fitness Formula Gym, which occupies the second and third floors.


All leases for the retail tenants are triple-net with rent increases throughout the terms of their leases. Directly above the Eleven 20 Club are 44 condominium units that commanded between $300,000 and $1 million.

Completed in 2007, the Eleven 20 Club is surrounded by other national retailers, including Starbucks, Chipotle, Borders Books, Gap, Panera Bread Co. and Talbot’s.

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

Post Properties Reaches Agreement with Pentwater Capital

Nominates David Schwartz to Stand for Election to the Board of Directors; One Additional Director to be Agreed Upon by Company and Pentwater

Names Doug Crocker Vice Chairman of the Board;
Schedules Annual Meeting to be Held October 16, 2008

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced that it has entered into an agreement with Pentwater Capital Management and Pentwater Growth Fund in connection with the election of directors at the Annual Meeting of Shareholders scheduled to be held on October 16, 2008.

The Company also announced that its Board of Directors has named Douglas Crocker II (middle right photo) as Vice Chairman. Mr. Crocker will also continue to serve as chairman of the Strategic Planning and Investment Committee of the Board.

Under the terms of the agreement with Pentwater, David R. Schwartz (middle left photo) will stand for election at the 2008 Annual Meeting and the Company will select a new mutually agreed upon independent director.

Eight of the Company’s nine incumbent directors will stand for re-election. One incumbent director has reached the mandatory retirement age under the Company’s Corporate Governance Guidelines and, as a result, will not stand for re-election to the Board. Pentwater has agreed to support and vote for the agreed upon slate of nominees at the Annual Meeting. Under the Company’s Board structure, each director stands for election annually.

Mr. Schwartz is a Managing Member and founder of Waterton Associates, a Chicago-based real estate firm that, since its inception in 1995, has acquired more than 39,000 apartments in 109 properties in most major metropolitan areas of the United States.

The record date for determining shareholders entitled to notice of and to vote at the Annual Meeting is September 8, 2008.

Robert C. Goddard, III, Chairman of the Company’s Board of Directors, said, “We are pleased that the agreement with Pentwater will allow the Company to continue to focus exclusively on its business. The Board looks forward to the contribution of David Schwartz, and to the continuing leadership of Doug Crocker in his added role as Vice Chairman.”

Said David P. Stockert,(top right photo) President and CEO, “Working together with the Board, our management team is committed to build on the strengths of the Company to pursue the common goal of enhancing value for shareholders.”

CONTACT: Post Properties, Inc., David Stockert, 404-846-5000

Marcus & Millichap Opens Jackson, MS Office, Expanding its Southeast Presence

Marcus & Millichap is the first specialized, national commercial real estate firm to enter Mississippi.

JACKSON, Miss., Aug. 4, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has opened a new office in Jackson, Miss.

Matthew M. Fitzgerald (top right photo) has been appointed to supervise the Jackson office as its regional manager. The office is located at 617 Renaissance Way, Suite 200, Ridgeland, MS 39157. The phone number is (601) 856-4706. The fax number is (601) 856-4763.

“The opening of our new Jackson office marks the first time a national commercial real estate brokerage firm has entered the state of Mississippi,” explains Fitzgerald.

“Marcus & Millichap will serve a segment of the Southeast investment community that has been overlooked in the past. We opened this office to meet the growing demands of local and out-of-state real estate investors by targeting investment real estate in Mississippi’s dynamic growth areas, including DeSoto County, Downtown Jackson, Madison/Ridgeland and, particularly, along the Gulf Coast.”

Brent Yurtkuran (middle right photo) and Brad Barham,(middle left photo) multi-family investment specialists, will lead the new office as senior associates.

Yurtkuran and Barham join Marcus & Millichap from Jackson-based Real Estate Solutions, a real estate services firm founded by Yurtkuran in 2001. Harry Noble, most recently with Noble Development Properties Inc., has also joined the firm as a retail and single-tenant net-lease investment specialist.

Yurtkuran and Barham have been involved in the commercial real estate industry for nearly six years. As such, they have experience selling multi-family properties throughout Mississippi on behalf of local and out-of-state investors.
“Mississippi is long overdue for a national, specialized commercial real estate brokerage firm,” says Yurtkuran.

“Marcus & Millichap will fill a major void in Northern Mississippi and along the Gulf Coast. Investors will now have the opportunity to tap into Marcus & Millichap’s extensive pool of nationwide investment capital,” he adds.

“Our markets are stable and well positioned for future growth,” notes Barham. “The arrival of Marcus & Millichap is direct evidence of the strong opportunity in this relatively untapped market.”

With the opening of the Jackson office, Marcus & Millichap expands its already strong presence in the southeast region of the United States, including offices in Atlanta; Birmingham, Ala; Greenville, S.C.; Louisville, Ky.; Lafayette, La.; Memphis, Tenn.; and Williamsburg, Va. The firm also has offices in Charlotte and five offices in Florida.

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

Interstate Hotels & Resorts JV to Acquire Ownership Interest in Lexington, KY Hotel

Hotel to Undergo $13 Million Renovation, Reflag as Hilton

ARLINGTON, VA, August 4, 2008—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent operator of full- and select-service hotels, today announced that it had formed a joint venture with an affiliate of Madison W Properties, LLC to recapitalize the existing ownership of the former Radisson Plaza Hotel Lexington (top left photo) in Kentucky and the adjacent 234,000 square foot, class-A office building.

Upon the transition, the hotel was renamed the Lexington Downtown Hotel & Conference Center.
The 367-room hotel will begin a comprehensive $13 million renovation encompassing guest rooms and public space, as well as the restaurant. Following completion of the renovation, the hotel will be reflagged as a Hilton. The hotel currently is managed by Interstate, who will operate the property as an independent until the hotel is reflagged.

“This is our forty-ninth property in which we hold a minority ownership interest and our first with Madison,” said Thomas F. Hewitt,(top right photo) Interstate chief executive officer.

“We know this property well and believe it has considerable long-term potential, given its excellent downtown location and proximity to the convention center. Those advantages, combined with the planned comprehensive renovation and rebranding as a Hilton, should position this hotel to become a leader in this market.”

“Interstate is a proven operator with a successful track record, and we look forward to establishing a long-term relationship with them,” said Peter C. Lewis, president of Madison W Properties.

“Their depth of experience in the meeting and conventions subsegment adds another dimension, making them a compelling partner in this particular venture. We look forward to exploring other opportunities with them.”

Located at 369 West Vine Street, the 15-story Lexington Downtown Hotel & Conference Center is situated just across from Rupp Arena and the Lexington Convention Center, (bottom left photo) and is convenient to Blue Grass Airport, Keeneland Race Track, University of Kentucky, and the Kentucky Horse Park.

The hotel is connected via skywalks to the Lexington Center and Rupp Arena, as well as the shops at Victorian Square.

The hotel’s amenities include a pool, fitness center, restaurant and lounge, and 14,000 square feet of meeting facilities, including a grand ballroom that accommodates up to 1,000 people. All guest rooms feature complimentary high-speed Internet access, Sleep Number® Beds and executive-size desks. The hotel’s Bigg Blue Martini is a favorite night hot spot in Lexington, and its Café on the Park on-site restaurant features local cuisine created by an award-winning chef.

For more information about Interstate Hotels & Resorts, visit the company’s Web site: http://www.ihrco.com/.

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

Carrie McIntyre, SVP, Treasurer, (703) 387-3320

Johnson-Laux Construction completes continuing contract projects totaling over $4M at Hilton Grand Vacations in Orlando, FL

ORLANDO, FL – Orlando-based Johnson-Laux Construction has completed Continuing Contract projects totaling over $4 million since 2001 at Hilton Grand Vacations (top left photo) in Orlando according to LEED-Accredited Professional Kevin Johnson, (top right photo) president, and Anthony Laux, (bottom right photo) vice president.

The company’s numerous exterior and interior projects include: a Hilton Executive Board Room/Conference Center and Club Millenia interior build-outs, a Call Center and Telemarketing Sales Office, Finance Department and many more projects during the last eight years. Anthony Laux serves as project manager and Craig Johnson is project superintendent.

“At Johnson-Laux,” said Johnson, “we focus on quality, schedule and cost control. This philosophy, in concert with our experience, versatility and commitment, has secured valuable long-term client relationships built on a strong reputation for meeting aggressive schedules and successfully completing time-sensitive projects.

Johnson-Laux is a full-service construction management and general contracting firm specializing in mission-critical healthcare, industrial, multi-family, office, resort, retail and other projects throughout Central Florida.

The company routinely offers pre-construction planning, design-build and general construction services for cardiovascular, imaging and surgery centers, hospital construction and renovations, medical office buildings, office buildings, restaurants, retail, theme parks, townhouse/condominium and industrial warehouse/distribution projects.

Johnson-Laux Construction is located at 4502 35th Street, Suite 500, Orlando, FL, phone 407-770-2180.

For more information, visit http://www.johnson-laux.com/

Contact: Kenneth H. Cristol 407-774-2515

Cousins and The Related Group Complete Sale of Residential Units at 50 Biscayne in Miami

Bulk purchase of 120 residential units by Related/Lubert-Adler partnership closed in late July

ATLANTA--Aug. 4, 2008--Cousins Properties Incorporated (NYSE:CUZ) announced today it and partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, (top left photo) a 54-story, 528-unit luxury condominium tower in Miami, Florida.

The buyer is a partnership of The Related Group and private equity firm Lubert-Adler Partners. The units were sold for a total price of $30.3million.

The sales ends Cousins' involvement in the tower's residential units but the Cousins/Related partnership continues to own seven commercial condominium units in the building. Since delivering 50 Biscayne, the Cousins/Related partnership has closed the sale of 528 residential units and six commercial units.

Cousins share of the pre-tax profit on the project to date is estimated to be approximately $18 million before minority interest.

"Quality product tends to succeed even in difficult markets and 50 Biscayne is a prime example of that. The building has weathered a turbulent South Florida condominium market and produced better than expected results," said Tom Bell, (bottom right photo) chairman and CEO of Cousins. "We thank Jorge Perez, Thomas Daly and the Related team for being a top-flight partner."

Jorge Perez,(top right photo) chairman and CEO of The Related Group said, "50 Biscayne is an award-winning product in our portfolio and significant credit is due to our partnership with Cousins Properties. Their diverse development expertise instills confidence that we can anticipate success with future collaborations."

CONTACTS:

Investments-- Jim Fleming, Chief Financial Officer, 404-407-1150 jimfleming@cousinsproperties.com or

Media--Matt Gove, Senior Vice President, 404-407-1490

mattgove@cousinsproperties.com

http://www.cousinsproperties.com/