Planned New Lakeland, FL Social Security Administration Building Gets $3.2M Loan

ORLANDO, FL—August 11, 2008— Doug Rozzell, (middle left photo) Principal for Thomas D. Wood and Company, secured financing in the amount of $3,206,753 for the Lakeland Social Security Administration Building in Lakeland, Florida.

The loan was financed through Thomas D. Wood and Company’s relationship with a national financial institution at a permanent fixed rate of 6.8%.

The loan term is 10 years with a 20-year amortization, and a loan-to-cost of 97%. The 14,212 square-foot single-tenant office building will be built on 2.8 acres at 550 Commerce Drive, Lakeland, Florida.

The website may be accessed through http://www.tdwood.com/.
For further information, please contact:

Doug Rozzell, (407) 937-0470, drozzell@tdwood.com

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

Demand Eases for Miami Office Properties but Investors Focus on Assets with Strong Tenant Mix

(Above, Biscayne Bay Bridge, connecting Miami with Miami Beach.)

MIAMI, FL — Strengthening ties to foreign economies support a positive long-term outlook for the Miami-Dade County office market, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Demand is slackening in response to a loss of office-using jobs, especially in the professional and business services sector.

“Investors will continue to focus on assets with a strong mix of tenants, minimal competition from new supply and locations near primary transportation routes,” says Kirk Felici, (top right photo) regional manager of the Miami office of Marcus & Millichap.

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

· Builders will deliver 400,000 square feet of office space this year.

· Vacancy is forecast to end the year at 10.2 percent.

· Asking rents are projected to advance 3.7 percent in 2008 to $30.06 per square foot.

· Effective rents are expected to tack on 2.8 percent to $25.64 per square foot.

· Demand for Class B properties increased 29 percent in the past 12-month period.

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

With more than 1,300 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap Real Estate Investment Services is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments.

In 2007, the firm closed $20.7 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.

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

http://www.marcusmillichap.com/

Jackson-Shaw Awards Concord Hospitality Management Contracts for Two Dallas-Area Properties

Two Marriott Hotels Will Anchor 100-Acre Master-Planned Community

RALEIGH-DURHAM, N.C. – August 11, 2008 – Jackson-Shaw, a national real estate development and investment firm, today announced that it has awarded management contracts to operate two Marriott properties in the Dallas area to Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators.

Concord also will provide pre-opening services for the hotels.

The two properties, a 102-room Residence Inn and 104-room Fairfield Inn & Suites, will anchor The Cascades at The Colony, (top right photo) Jackson-Shaw’s 100-acre, master-planned community in The Colony, Texas, a suburb of Dallas.

The hotels are expected to open in the spring of 2009 and represent Jackson-Shaw’s continued commitment to expanding its hotel portfolio, with the planned development of another property in Dallas and one in Jacksonville, Florida.

“We went through an extensive process to choose a hotel management company that was aligned with our vision for the community, as well as with our values as a developer,” said Christopher Sheldon, (middle right photo) vice president of hotel operations at Jackson-Shaw.

“Concord has the expertise and experience to deliver the level of quality and excellence we expect for these properties, which are located along a major corridor in an emerging suburb.”

The addition of the two contracts increases Concord’s managed properties to half of the company’s total portfolio of more than 50 hotels, and moves the company towards its stated goal of doubling its portfolio size by 2010

Contacts: Melanie Boyer or Jerry Daly, (703) 435-6293.

S&P: Fannie Mae 'AAA/A-1+' Senior Debt Rating Affirmed, Others Off Watch, Lowered; Outlook Negative

NEW YORK Aug. 11, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AAA/Stable/A-1+' senior debt rating on Fannie Mae.

At the same time, we lowered our risk-to-the-government rating on Fannie Mae to 'A' from 'A+', and our preferred stock and subordinated debt rating to 'A-' from 'AA-'.

These ratings were removed from CreditWatch Negative where they were placed July 25, 2008. The outlook is negative.

(Top left photo, Federal Reserve Bank, Washington, D.C.)

The affirmation of the senior debt ratings reflects the strong explicit and implicit U.S. government support these securities hold in the marketplace, as evidenced by the recent U.S. Treasury actions. This underscores the key public policy role and the key liquidity role the congressionally chartered government-sponsored enterprises (GSEs) have in the U.S. mortgage market.

"The lower risk-to-the-government rating reflects the company's worsening financial profile, which is pressured by the continued home price declines in some of its key markets, higher credit related expenses, and capital challenges," said Standard & Poor's credit analyst Victoria Wagner.

For a complete copy of S&P's news release, pleasse contact Jeff Sexton, New York, (1) 212-438-3448, jeff_sexton@standardandpoors.com

Analyst Contacts:
Victoria Wagner, New York (1) 212-438-7406
Daniel E Teclaw, New York (1) 212-438-8716

S&P: Freddie Mac 'AAA/A-1+' Senior Unsecured Debt Rating Affirmed; Others Off Watch, Lowered

NEW YORK, Aug. 11, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AAA/Stable/A-1+' senior unsecured debt rating on Freddie Mac.

At the same time, we lowered our subordinated debt and preferred stock ratings on Freddie Mac to 'A-' from 'AA-' and our risk-to-the government rating to 'A' from 'AA-'. These ratings are removed from CreditWatch Negative where they were placed July 25, 2008. The outlook is negative.

The affirmation of the 'AAA/A-1+' senior debt rating reflects the strong explicit and implicit U.S. government support these securities hold in the marketplace, as evidenced by the recent U.S. Treasury actions. This underscores the key public policy role and the key liquidity role the congressionally chartered government-sponsored enterprises (GSEs) have in the U.S. mortgage market.

"The lower risk-to-the-government, subordinated debt, and preferred stock ratings reflect Freddie Mac's pressured capital position in the face of higher operating losses. The risk-to-the-government rating measures Freddie Mac's "stand-alone" creditworthiness (i.e., its credit quality absent extraordinary government support).

" Higher credit expenses are the driver of net operating losses, as Freddie Mac is not immune to the weak housing markets," said Standard & Poor's credit analyst Victoria Wagner.

For a complete copy of S&P's news release, please contact
Jeff Sexton, New York, (1) 212-438-3448, jeff_sexton@standardandpoors.com

Analyst Contacts:
Victoria Wagner, New York (1) 212-438-7406
Daniel E Teclaw, New York (1) 212-438-8716

Cooling Economy Has Minimal Impact on CBD Office Market in Chicago

(Above, The Magnificent Mile shopping district in Downtown Chicago,)

CHICAGO, IL — After a solid performance in 2007, office fundamentals in Chicago began to soften in the first half of this year due to a cooling local economy, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm. (O'Hare International Airport, top right photo)

The CBD office market, on the other hand, is relatively insulated from housing-related weakness, and fundamentals in the area are anticipated to remain healthy this year.

“Investors with market knowledge and elevated risk tolerance are seeking value-add properties in the Northwest suburbs and O’Hare submarkets, where cap rates are in the low- to-mid-8 percent range,” says John Przybyla, regional manager of the Chicago Downtown office of Marcus & Millichap.

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

· Completions are expected to reach nearly 2.6 million square feet in 2008, adding 1.1 percent to inventory.

· Vacancy is forecast to end the year at 16.4 percent.

· Asking rents are projected to finish the year at $27.43 per square foot, rising 2.9 percent.

· Effective rents will gain 1.9 percent to $22.39 per square foot.

· Office-using employment growth in Lake and Kenosha counties has outpaced the rest of the metro with roughly 2,000 jobs added, a 1.9 percent increase.

For a copy of the complete Chicago 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

(Bottom right photo, Downtown shopping district)

MSI Starts Work on Major Expansion of Northrop Grumman’s Clean Rooms and Central Energy Plant in Apopka, FL

ORLANDO, FL – Orlando-based Mechanical Services, Inc. (MSI) is under way on a major expansion of Northrop Grumman’s Clean Rooms and Central Energy Plant in Apopka, FL, near Orlando, under its contract with Gettysburg Commercial Corporation, Orlando. (Photo of Northrop's Defensive Systems Division in Apopka at top right).

MSI is supplying and installing precise tolerance air conditioning systems designed by Peninsula Engineering, Orlando.

In addition, MSI’s scope of work includes construction of a new Class 10,000 Clean Room including air handling systems, duct work, controls and high efficiency filtration along with a 550-ton expansion of the factory’s Central Cooling Plant.

“State-of-the-art mechanical systems are a critical component of today’s high-tech office environments,” said William M. Dillard, Chief Executive officer of MSI. “We are pleased to provide the latest in Clean Room and Central Energy Plant Technology to Northrop Grumman in Orlando.”

Contact: Kenneth H. Cristol 407-774-2515

CB Richard Ellis Named Exclusive Sales Agent for 184-Unit Apartment Community in Orlando, FL

ORLANDO, FL-- CB Richard Ellis, the world's leading commercial real estate services provider, has been named the exclusive sales agent for The Outrigger Apartments (top right photo) located at 1001 Shoreview Drive in Orlando, Fla. The 184-unit property consists of 17 two-story garden-style apartment buildings with an average unit size of 754 sq. ft.

Shelton Granade, (top left photo) first vice president, and Luke Wickham,(bottom right photo) associate, have been retained to exclusively represent the owner of the residential community.

"The Outrigger offers potential investors a great opportunity to acquire a stabilized, infill asset with tremendous upside potential," Granade said. "The property is a value-add opportunity next to the prestigious Baldwin Park planned community and just five minutes from downtown Orlando. As gas prices continue to rise, infill communities like Outrigger should be in high demand."

Built in 1975, The Outrigger Apartments is located near the intersection of State Road 50 (Colonial Drive) and State Road 436 (Semoran Boulevard).

CONTACTS:

Rebecca Thomas, 305.381.6485, rebecca.thomas@cbre.com

Shelton Granade, shelton.granade@cbre.com

Luke Wickham, luke.wickham@cbre.com

Adelaide Polsinelli Joins Manhattan Office of Marcus & Millichap

NEW YORK, N.Y.-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Adelaide Polsinelli (top right photo) as an associate vice president investments in the Manhattan office, according to Edward Jordan, regional manger of the Manhattan office.

“Several local real estate firms were pursuing Adelaide for her many talents, including her excellent negotiating skills, her long-term relationships with many of New York City’s high-profile investors and her impressive track record of investment sales.

"Adelaide is one of the most successful commercial real estate brokers in New York,” explains Jordan. “We are honored that she ultimately selected Marcus & Millichap. Our firm’s access to a nationwide pool of investment capital was one of the factors that attracted her to Marcus & Millichap.”

As an associate vice president investments, Polsinelli will handle a variety of property types, including land developments; multi-family, retail, office, loft buildings, user-owner properties, hotels and parking garages.

“Marcus & Millichap’s extensive national platform and its ability to access more investment capital than any other company are very impressive,” Polsinelli says. “This platform, along with the firm’s commitment to providing the business development tools necessary to grow my business, were very enticing.

"Furthermore, Marcus & Millichap has developed an excellent reputation as a leading investment sales brokerage firm in New York City.

"As a result, the firm has captured a significant market share and will continue to be competitive in the high-stakes New York market.”

Polsinelli has a wide variety of clients, including pension funds, institutions, high-net worth individuals and entrepreneurs.

Prior to joining Marcus & Millichap, Polsinelli was a senior investment broker at Besen & Associates, where she closed over 200 transactions in investment sales. Throughout her career, Polsinelli has arranged more than 660 commercial real estate transactions.

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

NAI Realvest Negotiates New Lease Agreement in Orlando Central Park

ORLANDO, Fla. NAI Realvest has negotiated a lease agreement for 1,500 square feet of office space at Orlando Central Park (bottom right photo), 7200 Lake Ellenor Dr., suite 245 in Orlando.

Tom Kelley, CCIM, principal and office leasing specialist at NAI Realvest and associate Don Rudolph,(top left photo) CCIM, negotiated the transaction representing the landlord, Dallas-based Tarragon Corporation.

The tenant is Global Travel Alliance, LCC of Billings, Mont.

For more information, contact:
Tom Kelley, CCIM, Principal NAI Realvest 407-875-9989, tkelley@realvest.com

Don Rudolph, CCIM, associate at NAI Realvest 407-875-9989 drudolpd@realvest.com

Janice Paiano, Director of Marketing, NAI Realvest 407-875-9989 mailto:jpaiano@realvest.comealvest.com

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

Web: http://www.nairealvest.com/.

CB Richard Ellis Leases Space to Hummus House Restaurant

ORLANDO, FL- - CB Richard Ellis, the world's leader in commercial real estate is pleased to announce Bobby Palta, Senior Associate in Retail Properties, represented Pebb Enterprises East Orlando, LLC in signing a 10-year lease on an 1,198-sq.-ft. space located at 11595 University Boulevard in Orlando, Florida, less than one mile from the main campus of University of Central Florida.

The Tenant, Generation H, LLC will be operating as Hummus House: a new restaurant startup focused on fresh ingredients. More information is available at http://www.hummushouse.com/.

They are planning to open in early September 2008 and will be joining Jimmy John's Gourmet Sandwiches, Cold Stone Creamery and Planet Smoothie.

"Restaurants focused on fresh ingredients and healthy preparation are prevelant in other parts of the country but are in short supply in Central Florida. This University location should bode well for this new restaurant concept and we look forward to their success in this retail center," says Palta.

Contact: Bobby Palta, 407.839.3124, bobby.palta@cbre.com

Central Florida chapter of the National Association of Industrial and Office Properties to host 11th Annual Rumble

ORLANDO, FL – The Central Florida chapter of the National Association of Industrial and Office Properties (NAIOP) will host its 11th Annual “Rumble Food & Wine Festival” on October 23 at the Winter Park Farmer’s Market, 201 W. New England Avenue, Winter Park, FL, from 6:00-9:00 p.m.

The event will benefit the Jim Heistand (top right photo)-−NAIOP Endowed Eminent Scholar Chair at UCF’s new Dr. P. Phillips School of Real Estate spearheaded by NAIOP Central Florida chapter.

The popular event will include a silent auction, food, wine and entertainment, as well as a unique opportunity to network with the area’s leading commercial real estate professionals. Cost is $50 for members, $65 for non-members and $25 for students through October 13. After October 13, the cost is $60 for members, $75 for non-members and $35 for students.

The National Association of Industrial and Office Properties is the nation’s leading trade association dedicated to representing the interests of developers, owners, investors and other professionals in industrial, office and mixed-use commercial real estate.

Founded in 1967, NAIOP has over 16,500 members in 54 North American chapters and provides networking and business opportunities, educational programs, research on the latest innovations and strong legislative representation.

With more than 350 members, Central Florida is one of the largest NAIOP chapters in the nation. For more information, visit http://www.naiop.org/.

Contact: Kenneth H. Cristol, 407-774-2515

Tilt-Con Starts Two New Projects and Completes a Third Job

Orlando-based Tilt-Con Corporation completes new Great Florida Bank building (top left photo) in Davie, FL

BROWARD COUNTY, FL – Orlando-based Tilt-Con Corporation completed the new 2-story, 56,377-square-foot Great Florida Bank building located at 4721-4741 S.W. 78th Avenue, Davie, FL, under its contract with MAC Construction, Davie.

The project was designed by Barranco Gonzalez Architecture, Fort Lauderdale. Selected for its unrivaled performance and speed of execution, Tilt-Con utilized its economical multi-story system for tilt-up concrete walls. Ranked as Florida’s largest tilt-up concrete constructor by Engineering News-Record magazine, Tilt-Con’s scope of work included foundations, slab-on-grade and tilt-up concrete wall panels. Tilt-Con’s South Florida office is located at 10601 State Street, Suite 10, Tamarac, FL 33321.

Tilt-Con Corp. under way on new Nova Southeastern University Central Plant in Davie, FL

BROWARD COUNTY, FL – Orlando-based Tilt-Con Corporation is under way on the new 3-story, 65,878-square-foot Nova Southeastern University (middle right photo) Central Plant in Davie, FL. Tilt-Con was Selected by ANF Group, Inc., Cooper City, FL. The project was designed by Cannon Design, Arlington, VA.

Tilt-Con Corporation Starts new 780 Whitaker Road Warehouse in Jacksonville, FL

JACKSONVILLE, FL – Orlando-based Tilt-Con Corporation is under way on the new 280,000-square-foot 780 Whitaker Road Warehouse in Jacksonville, FL, under its contract with William C. Webb Company, Orlando. The project was designed by Florida Crown Architects, Orlando, FL.

Contact: Kenneth H. Cristol , 407-774-2515

Edwards Construction Ranked 93rd Largest among Southeast's Top Contractors

OCALA, FL – Edwards Construction Services, Inc., with offices in Ocala, Orlando, and Tampa, is prominently ranked 93rd largest among “The Southeast’s Top Contractors” according to Southeast Construction magazine’s annual 2008 survey.

The company, which reported 2007 revenues totaling $91.7 million, provides unrivaled expertise in Construction Management, Design/Build and General Contracting services to leading clients across the Southeast.

Its specialties include Manufacturing & Distribution, Residential Amenities, Food & Beverage, Commercial, and Senior Living facilities.

Edwards completes new IDI Madison Industrial Park, Buildings A and E in Tampa

TAMPA, FL – Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the new $17.5 million IDI Madison Industrial Park, Buildings A and E (top right photo) in Tampa, FL.

Designed by Horton Harley & Carter, Inc., Building A features 386,000 square feet of “cross dock” warehouse space with 107 loading docks, and Building E contains 147,000 square feet of flex warehouse space.

The buildings are constructed with 36-foot-high tilt-up concrete wall panels and single-ply membrane roof systems

For more information, visit the company’s website at http://www.edwardsconstruction.com/.

Contact: Kenneth H. Cristol, 407-774-2515

Four Points by Sheraton Announces Opening of its First Hotel in North China

BEIJING, CHINA- - Four Points by Sheraton announces the launch of its first Four Points by Sheraton hotel in North China with the opening of Four Points by Sheraton Beijing, Haidian Hotel & Serviced Apartments.( above centered photo)

Following the successes of other Four Points hotels which opened in Greater China including in cities like Shenzhen, Shanghai, Hangzhou, Changshu, Lhasa and Taipei, Four Points by Sheraton Beijing, Haidian Hotel & Serviced Apartments will now offer travelers to Beijing just what they’re looking for – great beds, a social atmosphere and a comfortable stay. (www.fourpoints.com/beijinghaidian)

“The opening of Four Points by Sheraton Beijing extends the brand’s presence in Greater China and provides comfortable lodging at a great value for both business travelers and leisure customers,” said Madam Zhang Lei, General Manager of Four Points by Sheraton Beijing, Haidian Hotel & Serviced Apartments.

“ Four Points by Sheraton gives travelers just what they want and need – comfortable accommodations, free Internet access in the public areas and the space they need to work or relax.” added Zhang.

Four Points by Sheraton Beijing, Haidian Hotel & Serviced Apartments features 355 guestrooms and 177 serviced apartments, each offering a new kind of comfort, approachable style including the delightful Four Points by Sheraton Four Comfort BedTM, LCD flat-screen TV, high speed Internet access and wonderful bathroom amenities.

Four Points by Sheraton is owned by Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties

CONTACT:

Hwee-Peng Yeo
Director, Corporate Communications
Starwood Asia Pacific Hotels & Resorts Ltd
9 Temasek Boulevard, Suntec City Tower 2
#24-02, Singapore 038989

Tel : +65 6335 4837; Cell : +65 9768 6087; +65 9248 0424
Fax : +65 6335 4820
www.starwoodhotels.com;

www.starwoodpressclub.com