Tuesday, August 12, 2008

Orlando-based Taurus Southern Investments announces sale of 6.4 acres at Central Florida Research Park to United Cerebral Palsy of Central Florida

ORLANDO, FL – Boston-based Taurus Investment Holdings and its Orlando-based subsidiary Taurus Southern Investments announced the sale of 6.14 acres at Central Florida Research Park adjacent to UCF in Orlando to United Cerebral Palsy of Central Florida.

UCP plans to construct its new state-of-the-art, 30,000-square-foot East Orange/Bailes Campus Facility on the site, according to Jeff K. McFadden, (top left photo) SIOR, Managing Partner of Taurus Southern. McFadden and Heidi C. Adams, (top right photo) Director of Leasing, represented the seller in the transaction.

Scheduled to open in August 2009, the $9.2 million project will be one of the only schools in the nation that focuses on the arts, technology and full inclusion. Services offered will include family support, Pre-K through third grade education, and therapy for children up to age 21.

“The goal of this project,” stated Ilene Wilkins, President and CEO of UCP of Central Florida, “is to create an environment where there are no limits, just life, for all children, regardless of their abilities.


"And as we move forward in establishing proven and promising practices for early intervention education, we invite the Central Florida community to join us on our journey of creating equal opportunities for all people.”

UCP has already raised a little over half the $9.2 million needed to fund this project. Interested parties and corporations wishing to help UCP in meeting its goals are invited to participate by contacting Terri Chastain at (407) 852-3304.

Taurus Investment Holdings, LLC, is widely known as a strategic real estate owner/operator specializing in value creation through a mix of development, redevelopment, lease-up and intensive professional management of each individual investment.

With 14 offices across the globe, Taurus successfully balances local entrepreneurship with global financial strength. It steadfastly holds to the philosophy of preservation of principal, providing superior risk-adjusted returns, and alignment of interests with investors.

Taurus Investment Holdings was founded in 1976 and has documented an impeccable track record of significant above-market returns. Since its inception, Taurus has purchased and sold over 20 million square feet of office, industrial, retail, residential and hotel assets.

Since establishing a presence in Central Florida in 1990, Taurus Southern has become a respected industry leader known for strategic new commercial development and value-added redevelopment projects as well as management, leasing and brokerage of capital assets. Led by McFadden, who has over 25 years of experience in commercial development and brokerage, Taurus Southern has become a premier owner/operator of commercial real estate within the southeastern United States.

“Taurus Southern’s successful track-record is the result of mutual trust and integrity,” said McFadden. “Enduring client relationships,” he added, “are the result of consistent performance in the marketplace and we are poised to expand our presence in key markets throughout Florida.”

Taurus Southern Investments, LLC, is headquartered at 1560 Orange Avenue, Suite 410, Winter Park, FL. For more information, visit http://www.tiholdings.com/.

Contact: Kenneth H. Cristol 407-774-2515

Microtel Inns & Suites Economy Lodging Brand Opens 300th Hotel


PARSIPPANY, N.J. – The Microtel Inns & Suites brand, an all-new construction economy lodging chain recently acquired by Wyndham Hotel Group, celebrated a milestone this week with the opening of its 300th hotel in Delphos, Ohio.

The 56-room hotel, (top right photo) owned by Group Properties LLC of Delphos, showcases the brand’s award-winning prototype design.

Each guest room features a flat-panel television, granite countertops and desk with easily accessible power outlets and data ports.

The Microtel Inn & Suites prototype was honored as Best Guestroom Design in the limited-service category at the HotelWorld Global Hospitality & Design Awards competition and received a Lodging Hospitality Chain Leadership Award for 2008.

“Microtel is the right brand for today’s traveling public,” said Roy Flora, brand president. “It sets the standard for travelers by providing them with the highest quality accommodations, service and value.”

The 56-room Microtel Inn & Suites in Delphos is located at 480 Moxie Lane, one block west of Route 30. The hotel is convenient to the Veterans Memorial Civic & Convention Center, Limaland Motor Sports Park and the area’s several colleges and universities.
CONTACT:

Rich Roberts , Vice President, Communications, Wyndham Hotel Group, 1 Sylvan Way, Parsippany, NJ 07054, PH (973) 753-6590, Richard.roberts@wyndhamworldwide.com

Marcus & Millichap Names 11 Vice Presidents of Investments

D'ALESSANDRO, KILPATRICK PROMOTED TO VICE PRESIDENTS/INVESTMENTS IN PALO ALTO, CA OFFICE

PALO ALTO, CA— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Jamie D’Alessandro (top right photo) and Scott Kilpatrick (top left photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Steven Seligman, regional manager in the firm’s Palo Alto office. D’Alessandro joined Marcus & Millichap in 2000 and specializes in multi-family investment sales. Kilpatrick joined the firm in 2000 and specializes in multi-family investment sales.

BENSON, FRIEDMAN, ZIEGLER NAMED VICE PRESIDENTS/ INVESTMENTS IN ENCINO, CA OFFICE

ENCINO, CA — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Jeff Benson, (photo at right) Matthew Friedman (photo at left) and Matthew Ziegler (left photo under Friedman) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Mitchell R. LaBar, managing director, regional manager in the firm’s Encino office. Benson joined Marcus & Millichap in 2002 and specializes in multi-family investment sales. Friedman joined the firm in 2003 and specializes in multi-family investment sales. Ziegler joined the firm in 2002 and specializes in multi-family investment sales.

HURST, NISBET, TIBERIO, WALKER NEW VICE PRESIDENTS/INVESTMENTS IN SEATTLE OFFICE

SEATTLE, WA — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Spencer Hurst (photo at right) , Peter Nisbet, (right photo, under Hurst), Armand Tiberio (left photo, under Ziegler) and Rich Walker (left photo, under Tiberio) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Gregory Wendelken, regional manager in the firm’s Seattle office.

Hurst joined Marcus & Millichap in 2003 and specializes in Sec. 42 multi-family investment sales. Nisbet started in 2002 and specializes in retail investment sales. Tiberio joined the company in 2002 and specializes in multi-family investment sales. Walker joined the firm in 2001 and specializes in multi-family investment sales.

ADAM J. TIKTIN MOVES UP TO VICE PRESIDENT/INVESTMENTS IN MIAMI OFFICE

MIAMI, FL — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Adam J. Tiktin (right photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Kirk Felici, regional manager in the firm’s Miami office. Tiktin joined Marcus & Millichap in 2002 and specializes in retail, office and industrial investment sales.

MICHAEL LABAR EARNS VICE PRESIDENT/INVESTMENTS POST IN LAS VEGAS OFFICE

LAS VEGAS, NV — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Michael LaBar (bottom left photo) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to John Vorsheck, regional manager in the firm’s Las Vegas office. LaBar joined Marcus & Millichap in 2002 and specializes in apartment investment sales.

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

Monday, August 11, 2008

CB Richard Ellis Announces LEED Accreditations

ORLANDO, FL- August 11, 2008 - CB Richard Ellis announces LEED Accreditations for managers Denise Pickles (top right photo) and Chase Brackett.(top left photo)

Denise Pickles is the first of Florida's Local Market Area (LMA) Project Managers to become LEED Accredited.

Denise is a valuable member of the Orlando Project Management Team beginning her real estate and construction career working for a boutique retail project management firm in Orlando. In addition, Denise is the first project manager in CBRE's network to earn accreditation.

Chase Brackett, Development Manager with Trammell Crow, has also been accredited. Chase is responsible for all aspects of development administration, where his experiences as a general contractor, preconstruction manager and a developer bring valuable team management skills to a project during all construction phases.

Additionally, his attention to detail and understanding of schedules, design objectives, value engineering, best practices and budget management help deliver each project to meet our client's expectations.

CBRE has taken a proactive role in guiding landlords through the LEED Existing Building (EB) program and incorporating LEED for Commercial Interiors (CI) into tenant build out scopes.

CONTACTS:

Denis Pickles, Project Manager, denise.pickles@cbre.com

Chase Brackett, Development Manager, chase.brackett@cbre.com

Cousins Properties Reports Results for Quarter Ended June 30, 2008

ATLANTA--(BUSINESS WIRE)--Aug. 11, 2008--Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the three and six months ended June 30, 2008. All per share amounts are reported on a diluted basis; basic per share data is included in the Condensed Consolidated Statements of Income accompanying this release.

"With economic conditions continuing to deteriorate, leasing remains a top priority for us, and our team is looking for distressed transactions where we can use our expertise to create value for our shareholders," said Tom Bell, (top right photo) chairman and CEO of Cousins.
"Fortunately, our tract sales business - selling entitled land to users or other developers - continues to be a bright spot this year and highlights a sometimes overlooked but important recurring business for Cousins.

"During the second half of the year, we will continue to press on the lease-up of our existing projects while aggressively pursuing opportunities that result from this down cycle," Bell added.

Funds from Operations Available to Common Stockholders ("FFO") was $16.1 million, or $0.31 per share, for the second quarter of 2008 compared with FFO of $9.4 million, or $0.18 per share, for the second quarter of 2007. FFO was $29.9 million, or $0.58 per share, for the six months ended June 30, 2008, compared to $33.9 million, or $0.63 per share, for the same period in 2007.

Net Income Available to Common Stockholders ("Net IncomeAvailable") was $2.9 million, or $0.06 per share, for the second quarter of 2008 compared with Net Income Available of $395,000, or $0.01 per share, for the second quarter of 2007.

Net Income Available was $4.8 million, or $0.09 per share, for the six months ended June30, 2008, compared with $14.8 million, or $0.28 per share, for the same period in 2007.

For a complete detailed copy of the company's news release, please contact James A. Fleming, Executive Vice President and Chief Financial Officer, 404-407-1150, jimfleming@cousinsproperties.com or Matt Gove, Senior Vice President, 404-407-1490, mattgove@cousinsproperties.com

Robert Anderson Appointed Director in Arbor’s Atlanta, GA Office

UNIONDALE, NY (August 11, 2008) – Arbor Commercial Mortgage announces the appointment of Robert Anderson to Director in Arbor’s Atlanta, GA office. Mr. Anderson will be responsible for all of Arbor’s loan products including Fannie Mae, FHA, CMBS, Bridge, Mezzanine and Preferred Equity. He reports to Ken Fazio, (top right photo) Vice President, National Sales Manager.

Mr. Anderson brings over 20 years of loan production and transaction structuring experience to Arbor. Prior to joining the Company, he held the position of Regional Director at Hometown Commercial Capital.

In this role, he was responsible for the origination of commercial real estate mortgages ranging in size from $1 million to $15 million, and was the highest volume producer in this group.

Before Hometown Commercial Capital, he served as the Southeast Director of Commercial Real Estate for Greystone Servicing Corporation, where he specialized in small balance transactions ranging from $250,000 to $5 million.

Previous to Greystone, he served as Vice President, Originations for Column Financial, where he produced over $120 million in fixed rate and securitized small balance commercial real estate transactions. Additionally, he also held origination and underwriting positions with Ocwen Federal Bank.

Mr. Anderson holds a Bachelor of Science in Business Administration with a concentration in Finance and Management from the University of Richmond. He is a member of the Mortgage Bankers Association and the Real Estate Investment Advisory Council. He resides in the metro Atlanta area.

Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com



Job Growth will drive Occupancy, New Apartment Development in Orlando Region, says Leading Analyst

ORLANDO, FL --- Positive signs for Central Florida job growth, including development of new healthcare and medical research facilities in east Orlando, will likely drive rental apartment occupancies and new development in the Central Florida region over the next few years, says a leading multi-family development executive.

Cole Whitaker,(top right photo) Orlando partner of Hendricks & Partners, one of the nation’s leading multi-family development consultants, said the slowdown in rental apartment development over the last few years is another contributing factor.

“I think occupancies are going to strengthen and we’ll see some real rent growth, especially in 2009 and into 2010,” Whitaker said.

Whitaker, who has negotiated sales of Central Florida rental apartment properties and development sites that total more than three billion dollars since 1983, said a growth boom could emerge quickly in south Orange County and Osceola County over the next two years.

(Post Lake Apartments at Baldwin Park, Orlando, middle left photo)

“With more than a half a dozen major new apartment developments planned along the U.S. 192 corridor, Osceola County is expected to grow faster than any of the other five counties in the region,” he said.

“Osceola County’s Growth Management Plan currently shows six large Developments of Regional Impact planned to accommodate more than 30,000 housing units east of Lake Toho,” Whitaker said. “Most of those DRIs include apartment zoning,” he said.

New healthcare and medical research facilities under development in east Orlando, including the University of Central Florida College of Medicine and the Burnham Institute for Medical Research near Lake Nona, will drive development of ancillary and support facilities in that area, Whitaker said.

“We will see a number of new high-end apartment projects in southeast Orlando to serve those populations,” he added.

(Camden Lee Vista Apartments near Orlando International Airport, , bottom right photo)

For more information, contact:

Cole Whitaker, Partner, Hendricks & Partners, 407-256-9594
Don Hendricks, Chairman/CEO Hendricks & Partners 602-912-1620
Larry Vershel, Larry Vershel Communications 407-644-4142

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

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