HFF places $13.5M loan with Principal Global Investors for 2-8 Germak Drive in Carteret, NJ

FLORHAM PARK, NJ, Sept. 18, 2008 – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it placed a $13.5 million loan with Principal Global Investors for 2-8 Germak Drive (middle right map) , a 299,625-square-foot industrial building in Carteret, New Jersey.

HFF senior managing director Jon Mikula (top right photo) and associate director Michael Klein (top left photo) worked exclusively on behalf of the borrower, The Hampshire Companies, to arrange the four-year, fixed-rate loan.

Proceeds are being used to purchase the property and pay for closing costs and leasing commissions to re-tenant the building.

P.C. Richard & Sons will occupy the entire property for use as a warehouse distribution facility, service center and training facility.

Situated on 15.7 acres, 2-8 Germak Drive is close to Exit 12 off the New Jersey Turnpike as well as the Newark Liberty International Airport and Port Newark/Elizabeth Marine Terminal.

The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey with a portfolio of more than 15 million square feet of commercial space and assets valued at more than $2 billion.

Additional information on The Hampshire Companies and its funds is available online at http://www.hampshireco.com/.

CONTACTS:

Jon Mikula, HFF Senior Managing Director, 973 549 2000, jmikula@hfflp.com

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

Post Properties Announces Quarterly Dividends

ATLANTA, GA(Business Wire))-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.45 per share for the third quarter of 2008.

The Company’s annual dividend rate is $1.80 per common share. The dividend is payable on October 15, 2008 to all common stock shareholders of record as of September 30, 2008.

(David Stockert, chairman, Post Properties Inc., top right photo)

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock.

On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the third quarter. The dividend is payable on September 30, 2008 to all Series A preferred stock shareholders of record as of September 15, 2008.

On its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $0.47656 per share for the third quarter.

The dividend is payable on September 30, 2008 to all Series B preferred stock shareholders of record as of September 15, 2008.

Contact: Post Properties, Inc., Chris Papa, 404-846-5000

Crescent Hotels & Resorts Opens Highmark, Steamboat Springs’ First Luxury All-Suite Hotel

STEAMBOAT SPRINGS, Colo., September 18, 2008 – Steamboat Springs’ first “ultra” luxury, all-suite hotel, the Highmark Steamboat Springs, (top right photo) with its official opening today has launched a level of service, amenities and product that is unparalleled in the family-oriented ski and year-round recreation destination.

The new property, operated by Crescent Hotels & Resorts, features luxury, expansive suites and penthouses, ranging in size from 1,600 to 2,400 square feet.

Located at the base of Mt. Werner, the Steamboat Ski area, the six-story, all-suite resort offers a truly unique combination of opulent accommodations and high-touch personal service.

“Steamboat Springs offers a wide array of lodging options, but this will be the first true luxury, all-suite hotel property in Steamboat,” said Highmark General Manager, Jamie McAnally, (middle left photo) a Yampa Valley native from nearby Craig, Colo.

McAnally, with more than 15 years experience managing major ski and beach resorts, added that the Highmark is different from any property he has ever seen.

“The Highmark is targeted to families and couples who want the same luxury they find in a five-star condominium, but who want the personal attention and services found only at a luxury hotel. The size and comfort of our suites, coupled with extraordinary attention to service, is unrivaled in Steamboat Springs and found in only a handful of hotels at any U.S. destination ski resort.”

CONTACTS:
Jerry Daly or Chris Daly, 703 435 6293, chris@dalygray.com

Stacey Kramer (Colorado media), 970 846 3506, kskramerski@yahoo.com

Interstate Hotels & Resorts and The John Buck Company Open aloft Cool Springs, TN

ARLINGTON, Va., September 18, 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 has opened and will operate the aloftsm hotel Nashville-Cool Springs, (top right photo) in Tennessee.

The 143-room, newly built hotel is owned by a joint venture in which Interstate and The John Buck Company (TJBC) of Chicago, Ill., a real estate development firm, are partners.

It is the second aloft hotel developed and opened by the partnership in 2008. TJBC oversees development of the hotels for the partnership.

aloft is Starwood Hotels & Resorts’ premium, select-service hotel brand designed to appeal to a new generation of business and leisure travelers, featuring high design at an affordable price point, accessible technology, style and a social atmosphere.

Including the Cool Springs hotel, there currently are 18 aloft hotels open in 12 states, Montreal, Canada, and Beijing, China, with another two properties slated to open by year end and more than 50 worldwide in 2009.

“This is our second aloft hotel, and our 29th joint venture property this year, an area we have focused on in 2008,” said Thomas F. Hewitt, (top left photo) Interstate’s chief executive officer. “Our first aloft in Rancho Cucamonga, Calif., continues to generate buzz and excitement among both business and leisure travelers, and we are delighted to be in the vanguard of developers bringing this trend-setting hotel to the traveling public.”

“aloft has been one of the most high profile brand launches in hotel industry history, and based on guest response, is exactly what today’s savvy travelers are looking for—user-friendly technology, urban-inspired design that encourages guest interaction, great value,” said Paul Novak, (middle right photo) TJBC’s managing director, hospitality division.

CONTACTS:

Carrie McIntyre, SVP, Treasurer, Interstate Hotels & Resorts, (703) 387-3320

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

HFF Indianapolis hires Brian Kelly to join Indianapolis Office Investment Sales Team

INDIANAPOLIS, IN – HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has hired Brian Kelly to join the Indianapolis Investment Sales Team. Mr. Kelly will serve as a director and as a member of the firm’s national multifamily group, and will continue his national focus on student housing properties.

Before joining HFF, Mr. Kelly worked as an investment sales broker at Marcus & Millichap where he built key relationships with national student housing developers and owners. Mr. Kelly previously worked as a financial analyst at Raytheon.

He is a graduate of Indiana University with a Bachelor of Science in Finance and a minor in Economics. Mr. Kelly is a member of the National Multi-Housing Council and the National Apartment Association.

“HFF is excited to have Brian join our company. We are enthusiastic about expanding our presence in the student housing market. With the strong investor interest in student housing due to the ever increasing demand in the sector, the timing could not have been better. We intend to introduce Brian more formally at the upcoming NMHC Student Housing Conference in Washington,” said Dave Keller, (top right photo) senior managing director of HFF Indianapolis.

CONTACTS:

David B. Keller, HFF Senior Managing Director, 317 630 3191, dkeller@hfflp.com

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

Marcus & Millichap Names Greg Price Sales Manager of Denver Office

DENVER, Sept. 17, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Greg Price (top right photo) sales manager of the Denver office, according to Harvey E. Green,(bottom right photo) president and chief executive officer of Marcus & Millichap.

“Greg brings a solid background and skill set to the sales manager position,” says Adam Christofferson,(top left photo) vice president and regional manager of the firm’s Denver office. “His experience with multi-family investment sales will be a remarkable asset to our clients and agents located in Denver and throughout the state of Colorado.”

Price joined the Denver office of Marcus & Millichap in January 2002 and became an agent and member of the National Multi Housing Group in 2003. In 2004, Price earned Rookie of the Year honors in the Denver office and was promoted to senior associate in July 2006. He also earned sales recognition awards from the firm in 2006 and 2007.

Price received his bachelor’s degree in environmental studies from the University of Colorado.

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

Wyndham Hotels Introduce “Green” Uniforms Spun From Plastic

PARSIPPANY, N.J. (Sept. 18, 2008) – As part of its evolving “green” strategy, Wyndham Hotels and Resorts today announced the launch of a new ecologically-friendly uniform line for hotel staff using recycled polyester fibers spun from plastic beverage bottles.

Select Wyndham® hotels will introduce the new uniforms beginning this fall by job category.

Front desk and other customer-facing employees are required to begin wearing the new uniforms by the end of 2009 and housekeeping and other back-of-house staff by 2010. All new properties are required to provide the new uniforms upon opening.

The textiles are produced from post-consumer products, including recycled plastic beverage bottles, which are processed into flakes, then filaments that are spun into yarn and ultimately woven into very soft fabrics. Recycling polymers keeps more plastics out of landfills.

The uniforms, which do not require professional laundering, minimize the use of chemicals during cleaning and provide a cost savings to hotel operators.

Cincinnati-based Cintas Corporation will design and manufacture the uniforms and continue to introduce new eco-friendly fabrics for the Wyndham apparel program.

Wyndham Hotels and Resorts is the first national upscale lodging chain to mandate the Cintas eco-friendly uniforms systemwide.

“As part of our quest to find new and innovative green practices, we challenged Cintas to design a program that reflected our three Wyndham brand-defining pillars of innovation, personalization and flexibility,” said Faith Taylor (top right photo) , Wyndham Worldwide vice president of sustainability and innovation.

“Cintas answered the call by selecting trendy, eco-conscious garments that are machine washable, easily modified and mixed-and-matched for a more personal look.”

The end result is a “fashionable suit that is cost-effective and extremely comfortable,” added Taylor.

“We tested the uniforms at several Wyndham hotels and found staff appreciated the comfort of the garments but also the retail-inspired, upscale contemporary look,” said Peter Strebel, (top left photo) Wyndham Hotels and Resorts president.

“Introducing a sustainable uniform is not only consistent with our vision to be more mindful of the environment, but also educates employees on the importance of being green-minded at all levels of the organization.”
The new Wyndham uniforms will be displayed at the 2008 International Hotel/Motel & Restaurant Show to be held in New York’s Jacob K. Javits Convention Center, Nov. 8-11, at the Cintas Corporation trade show booth.

In addition to its “green” uniforms, the Wyndham chain incorporates several ecologically-friendly initiatives including use of energy-efficient compact fluorescent lighting; low-flow water practices; an “Earth Smart” guest linen reuse program; and numerous recycling efforts.

The chain recently announced its Wyndham ClearAir(sm) initiative to offer allergy-friendly guest accommodations designed to remove up to 98 percent of allergens. Wyndham Hotels and Resorts is the first national upscale lodging chain to mandate allergy-friendly rooms systemwide.

CONTACT:

Evy Apostolatos, Director, Media Relations, Wyndham Hotel Group, 1 Sylvan Way Parsippany, NJ 07054. PH (973) 753-6590
evy.apostolatos@wyndhamworldwide.com

Selmon's Plaza in Largo, FL Sold

TAMPA, FL--Plaza Advisors is pleased to announce the sale of Selmon’s Plaza, a Sweetbay grocery store shadow anchored shopping center located on E. Bay Drive and Keene Road in Largo (Tampa MSA) Florida. The transactions closed September 16, 2008.

The Plaza Advisors team composed of Jim Michalak, (top right photo) Lenard Williams (top left photo) and Jess Wirts, (middle right photo) exclusively represented Kimco Realty Corp, the seller on the transaction. The buyer, CRI Plaza 1, LLC, was not represented by a broker on the sale.

The project GLA is 56,668 square feet not including the 45,871 sf Sweetbay store. The asset was built in 1989. The center’s major tenants include; You Fit (fitness center) and Indigo Joes restaurant. The KFC and Bank of America outparcels were not included in the sale.

Plaza Advisors is a real estate brokerage firm that specializes in the disposition of anchored shopping center properties in the southeastern United States.

Plaza Advisors clients include private equity, developers, and major institutions including; pension funds, life insurance companies, REITs, and money center banks.

Jim Michalak, the firm’s managing partner, is a 23 year career real estate broker. Mr. Michalak has closed over 100 shopping center transactions, with a combined GLA exceeding ten million square feet with an aggregate sales volume in excess of $1 billion. Plaza Advisors is based in Tampa, FL

CONTACT:

Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627
jim.michalak@plazadvisors.com
http://www.plazadvisors.com/

NAUI Renews Lease at Pinebrooke Commerce Center

TAMPA, FL--The Dikman Company, Inc. announces that NAUI Services Group, Inc. renewed the lease located at 1232 Tech Boulevard in Tampa. (top right map)

NAUI Services Group is a California not-for-profit corporation and worldwide educational association, leasing 8,820 square in the Pinebrooke Commerce Center IV.

NAUI provides and promotes the preservation and protection of the world’s underwater environments with high quality practical education.

The Dikman Company represented the Lessor. For more information, please conact Bob Dikman, ALC, CRB, CCIM, SIOR, 813/251-5288

Marcus & Millichap Names Howard Fuerst Vice President Investments in Dallas Office

DALLAS, TX— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Howard Fuerst (top 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 Tim Speck,(bottom left photo) regional manager in the firm’s Dallas office.

Fuerst joined Marcus & Millichap in 2002 and specializes in retail investment sales. During his 24-year career in commercial real estate, Fuerst has worked for some of the largest estate real estate families in Texas, including Rosewood Property Co. (the Hunt family) and Hillwood Property Co. (the Perot family).

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

Hampton Hotels Opens 11 Properties in August

(The 92-room Hampton Inn & Suites Mystic (above) at Mystic, CT, opened Aug. 1, 2008)

BEVERLY HILLS, CA—Hampton Hotels (www.hampton.com), the international brand of nearly 1600 mid-priced Hampton Inn® and Hampton Inn & Suites® hotels, opened 11 properties ( centered chart below)) in August 2008, aggregating 1,482 new rooms.

The new openings are comprised of five Hampton Inn hotels and six Hampton Inn & Suites properties.

All openings are franchised, newly constructed hotels, with the exception of the 166-room Hampton Inn Chihuahua City, Mexico, a conversion. (top left photo)

“The demand for focused service, mid-market hotels remains constant, despite fluctuations in the economy,” said Phil Cordell, (top right photo) senior vice president, Hampton Hotels.

“The Hampton product has proven to be a great investment, an advantage that is attracting potential new franchisees in Mexico and Canada as we continue to expand there. Our product offerings and amenities appeal to business and leisure travelers who recognize the added value of staying at a Hampton Hotel.”

Hampton Hotels is one of the fastest growing brands for value-oriented and quality minded travelers. Finding a Hampton Hotel is easy - they are in urban chic locations, near shopping malls, beaches, roadside attractions - they’re everywhere offering friendly service and 100% Satisfaction Guaranteed.

Under Hampton’s “Friend in Town” initiative, Hampton web sites emphasize local flavor, displaying local photography highlighting each property’s area connections, also providing original content on such topics of interest as area attractions, historical facts and fun things to see and do around town.

Contacts:

Charmaine Easie-Samuels, Hampton Brand Communications, (901) 374-6462

Chris Daly, Daly Gray Public Relations, (703) 435-6293

Interest in Industry Trends and Future High as Lodging Conference Nears September 23-26 Event

PHOENIX, AZ—Officials of The Lodging Conference, a major hotel conference that attracts the nation’s top senior hospitality executives, notes that hoteliers attending this year’s conference are seeking answers about how to respond to issues raised by the nation’s credit crunch, presidential election and slow economy, and in hearing the latest, most informed forecasts for the year ahead.

“The hotel outlook is murkier than at any time in the past five years,” said Morris Lasky, (top right photo) conference chairperson. “The responses we are getting suggest that hoteliers believe we are at a crossroads and they are looking for trends and forecasts to help them firm up their plans not only for the rest of 2008, but also for 2009.”

Key panels at the 2008 Lodging Conference include:

· Survival Skills: Hot Topics and Hotel Trends - Panelists Gamal Aziz, President & CEO, MGM Mirage Hospitality; Paul Kirwin, President, Carlson Hotels Worldwide - The Americas; Mitesh Shah, (top left photo) President & COO, Noble Investment Group; Arthur Adler, (middle right photo) Managing Director & CEO-Americas, Jones Lang LaSalle Hotels; and Steven A. Rudnitsky, (middle left photo) President & CEO Wyndham Hotel Group, will offer their opinions on relevant issues important to planning and implementing successful hotel strategies in a mixed economy.

· Follow Your Compass to Find Out Where We Are Headed in 2009 - Pat Ford, (bottom left photo) President of Lodging Econometrics; and David Loeb, Managing Director, Senior Real Estate Research Analyst, R.W. Baird Hotel Real Estate Team, join Mark Lomanno, (bottom right photo) President, Smith Travel Research in a presentation of the latest industry statistics and offer their views on the future direction of hotel industry trends for 2009 and beyond.

· The Great Hotel Owners Debate - Hotel executives Ted Darnall, Chief Operations Officer, HEI Hotels & Resorts; Stephen P. Joyce, President & COO, Choice Hotels International; Colin Reed, Chairman & CEO, Gaylord Entertainment; Monty Bennett, President & CEO, Ashford Hospitality Trust Inc.; and Charles S. Henry, President, Hotel Capital Advisers, Inc., will address hot topic questions covering branding, management, market share, legal and financing.

In addition, guests will be able to take advantage of nearly 40 roundtable and breakout sessions during the four-day conference.

“We have received increased sponsorship support compared to previous conferences, which we interpret as a sign of optimism for 2009,” said Harry Javer, President, The Conference Bureau and conference co-founder.

“Once the election is decided and the direction of the country comes into focus, the industry is likely to rebound. We look forward to getting an update on the hotel operating and development outlook to better anticipate profitability in the coming 18 months.”

For additional information about The Lodging Conference, interested parties may call (212) 877-0866 or visit its Web site: http://www.lodginglink.com/.

Contact: Jerry Daly or Chris Daly, Daly Gray Public Relations, 703 435 6293

Thomas D. Wood & Co. Brokers Two Loans Totaling $3.4M

ORLANDO, FL— John Worrell, Assistant Vice President for Thomas D. Wood and Company, secured financing in the amount of $3,400,000 for two Mr. Gatti’s Pizza Restaurants and Interstate Industrial.

Both properties were financed through Thomas D. Wood and Company’s correspondent relationship with StanCorp Mortgage Investors.

Worrell secured financing for Mr. Gatti’s Pizza in the amount of $2,500,000 and a rate of 7%. The loan term is 10 years, based on a 25-year amortization, with a loan-to-value of 70%.



Both restaurants are 25,000 square-feet and built in 1995, and are located at 4349 Sherwood Way, San Angelo, Texas and 614 W. Wadley, Midland, Texas.


Worrell arranged financing in the amount of $900,000 for Interstate Industrial at a rate of 6.625%. The loan term is seven years, based on a 25-year amortization, with a loan-to-value of 67%.



The 22,278 square-foot industrial building was built in 1992, and is home to major tenant Critical Response Networks. Interstate Industrial is located at 2130 Interstate Drive, Lakeland, Florida.

For further information, please contact:
John Worrell (407) 937-0470, jworrell@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

NAI Realvest negotiates new lease and a sublease totaling more than 9,760 SF at industrial buildings in Longwood and Oviedo

ORLANDO, FL. – NAI Realvest has negotiated two new industrial lease agreements -- a lease at Fleet Financial Center in Longwood and a sublease at an industrial building in Oviedo totaling more than 9,760 square feet.

Michael Heidrich, (top right photo) principal at NAI Realvest, represented the landlord Fleet Financial Center, Inc. in the lease of 5,000 square feet to Sanford-based Absolute Asphalt, Inc. at suite 101 at 751 Fleet Financial Court in Longwood. (Middle left map)

In Oviedo, Heidrich represented the Upstream at Bitstream LLC for the long-term sublease of 4,760 square feet, which is one-half of the entire building, at 640 Kane Court to Subtenant PWG II, Inc. of Oviedo.

Upstream at Bitstream recently leased the entire 9,520 square foot industrial building and currently occupies the other half.

For more information, please contact

Michael Heidrich, Principal, NAI Realvest 407-875-9989 or mheidrich@realvest.com

Janice Paiano, Director of Marketing, NAI Realvest, 407-875-9989 or jpaiano@realvest.com;
Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

S&P: AIG General (Taiwan) Co. Ratings Cut To 'A' After Parent Downgraded; On Watch Negative

TAIPEI Sept. 17, 2008-- Standard & Poor's Ratings Services today lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to 'A' from 'A+'.

At the same time, we placed the ratings on CreditWatch with negative implications.

The downgrade follows Standard & Poor's announcement on Sept. 15, 2008, that it had lowered its long-term counterparty rating on American International Group Inc. (AIG) to 'A-' from 'AA-', and its short-term counterparty credit rating to 'A-2' from 'A-1+'.

At the same time, we lowered our counterparty credit rating and financial strength ratings on most of AIG's insurance operating subsidiaries to 'A+' from 'AA+'. All of these ratings remain on CreditWatch with negative implications.

"The rating action mainly reflects the AIG group subsidiaries' reduced flexibility in meeting additional collateral needs and the increasing risks tied to residential mortgage-related losses," said credit analyst Andy Chang. (see "Research Update: American International Group Ratings Lowered And Kept On CreditWatch Negative,", published on Sept. 15, 2008).

The rating adjustments on AIG Taiwan mainly reflect the decline in implicit parent support, given the company's strategically important position in the group and the group's weaker financial strength.

"The rating adjustments on AIG Taiwan mainly reflect the decline in implicit parent support, given the company's strategically important position in the group and the group's weaker financial strength," said Mr. Chang.

The CreditWatch action will be resolved when the rating action on the AIG group is resolved, which will depend on the completion of asset transfers to the parent, implementation of further liquidity options, and successful sale of at least a portion of the group's business assets. The ratings on AIG Taiwan will move in tandem with the direction of the AIG group.

Media Contact:

Jeff Sexton, New York, (1) 212-438-344, 8jeff_sexton@standardandpoors.com

Analyst Contacts:
Andy Chang, CFA, Taipei (8862) 8722-5815
Susan Chu, Taipei (8862) 8722-5813