Wyndham Hotel Group Expands Roles for Key Executives

PARSIPPANY, N.J.-- Wyndham Hotel Group has announced expanded senior staff roles as part of a three-pronged strategic initiative to enhance franchisee service delivery, drive revenue growth and commit additional resources to the company’s namesake upscale Wyndham brand.

Duane Elledge (top right photo) has been promoted to executive vice president, brand services, responsible for strategic direction and leadership oversight for Wyndham Hotel Group’s core operational departments and key franchisee-facing services including franchise communications, quality assurance, global training, design, construction and procurement services, group operations, property openings and conversions, brand identity and franchise administration.

Elledge also will be responsible for identifying best practices to help franchisees achieve their business goals through the company’s new Count On Me! service culture initiative.

Elledge previously served as senior vice president, group operations, North America. He joined the Wyndham Hotel Group in August 2006 as senior vice president, design and procurement, responsible for the day-to-day management of the Hotel Group’s preferred alliance and design and development departments.

Keith Pierce (middle right photo, under Elledge photo) has been promoted to president, brand operations, the Americas, responsible for overall strategy, revenue growth, product quality, global brand standards and customer satisfaction of nine hotel brands.

Reporting to Pierce will be Ken Greene, (top left photo) group president of the Days Inn ®, Travelodge®, Howard Johnson ®and Ramada ® brands; John Valletta, (middle left photo, under Greene photo) president, Super 8 ®; Roy Flora, group president, Microtel Inns and Suites ®, Hawthorn Suites ® and Baymont Inn & Suites ®; and Rajiv Bhatia, (middle right photo, under Pierce photo) brand senior vice president, Knights Inn ®.

Pierce most recently served as group president since April 2004, responsible for overseeing the company’s AmeriHost, Baymont, Knights Inn and Ramada brands and its franchisee communications, preferred client services and event services departments. Prior to that, he held the title of president of the AmeriHost, Ramada, Baymont and Wingate brands.

The company also announced consolidation of its distribution, channel management and reservations functions under Jeff Edwards, (bottom left photo, under Valletta photo) chief information officer and executive vice president, revenue services.

Edwards is responsible for Wyndham Hotel Group’s information technology systems and revenue management services including reservation platforms, property-based systems, enterprise-wide data warehouse, brand web sites and call centers, global distribution systems and sales, third party reservation providers and international systems and services.

Jeff Edwards previously served as executive vice president and chief information officer since December 2005.

All three positions report to Stephen P. Holmes, (bottom right photo, at desk) chairman and CEO of Wyndham Worldwide and interim CEO of the Wyndham Hotel Group.

Peter Strebel,(bottom left photo) president, Wyndham Hotels and Resorts, will continue to lead the company’s namesake brand with additional marketing and development resources.

Wyndham Hotel Group, one of three principal components of Wyndham Worldwide Corporation (NYSE: WYN), encompasses nearly 7,000 hotels representing approximately 581,000 rooms in 65 countries on six continents under the Wyndham®, Ramada®, Days Inn®, Super 8®, Wingate® by Wyndham, Baymont Inn & Suites®, Microtel Inns and Suites®, Hawthorn Suites®, Howard Johnson®, Travelodge®, Knights Inn® and AmeriHost Inn® brands.

All hotels are owned individually and operated independently or by Wyndham Hotel Management. Wyndham Hotel Group is based in Parsippany, N.J. Additional information is available at http://www.wyndhamworldwide.com/.

CONTACT:

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

Marcus and Millichap Sells a 54,027-SF Shopping Center in Panama City, FL

PANAMA CITY, , FL, Sept. 24, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Mariner Plaza, (top right photo) a 54,027-square foot shopping neighborhood property located in Panama City, Florida, according to Steven M. Ekovich, First Vice President/Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $5,825,000. David DeGroot and Michael Jaworski, investment specialists in Marcus & Millichap’s Tampa office, along with Adam Mancinone and Victor Nolletti, Steve Witten and Blake Barbarisi of Marcus & Millichap’s New Haven office, represented the respective parties in this transaction.

“This property has assumable conduit financing which greatly helped in effecting the closing,” says Jaworski.

“The investment has solid fundamentals. We were able to attract a number of local, national and international buyers, all trying to maintain cash flow,” adds DeGroot

Located at 625 Highway 231 in Panama City, Florida, the property is situated on a 5.93 acre parcel with 190 parking spaces.

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

HFF closes sale of Bammel Business Park 6 & 7 in northwest Houston

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Bammel Business Park 6 & 7, (bottom right photo) industrial/flex buildings totaling 110,400 square feet in northwest Houston, Texas.

HFF senior managing director Rusty Tamlyn (middle left photo) and associate director Mike Parker (top right photo) led the investment sales team exclusively on behalf of the seller.

The properties were purchased free and clear of debt for an undisclosed amount. The seller will continue to manage and lease the properties post-closing.

Tamlyn and Parker are also marketing the remaining five properties in Bammel Business Park (buildings 1 through 5) for the seller, which is leasing and managing these properties.

Completed in 2008, Bammel Business Park 6 & 7 have 55,200 square feet of industrial/flex space each. The properties are located at 4702 and 4802 North Sam Houston Tollway within the Bammel Business Park in northwest Houston.

“Despite ongoing problems in the global capital markets, the Houston industrial property market fundamentals remain strong supported by a booming energy sector, sustained job growth and the expansion of our port,” said Parker.

“Situated with direct frontage along the Sam Houston Parkway, Bammel Business Park is one of the few remaining sites tagged for industrial use between Interstate 45 and Interstate 10.”

CONTACTS:

James R. Tamlyn, HFF Senior Managing Director, 713 852 3500, rtamplyn@hfflp.com

Michael L. Parker, HFF Associate Director, 713 852 3500, mparker@hfflp.com

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

Hunter Hotels Promotes Mayank Patel to Senior Analyst

Expanded Role Reflects Growth of the Company

ATLANTA, Ga., Sept. 24, 2008—Hunter Hotels, a leading national hotel brokerage and investment services firm, today announced the promotion of Mayank Patel (top right photo) to senior analyst.

In his new role, he will head up a team of analysts responsible for the research and preparation of property evaluations, hotel marketing packages and broker opinions of value.

He also will conduct financial and industry analysis, examine valuation methods, and prepare offering memoranda for prospective buyers.

“Our firm has enjoyed substantial growth over the past five years, in part thanks to the thoughtful analysis and evaluation provided by Mayank and his team,” said Bob Hunter, (top left photo) president of Hunter Hotels.

“He brings a full range of understanding of hotels from development to operations, as well as in-depth expertise on valuation and finance. With rock-solid analysis and valuation, we believe we are able to help clients achieve the optimum pricing for their properties in all phases of the hotel real estate cycle.”

A 10-plus year hotel veteran, Patel has been involved in valuation and analysis, operations and development throughout his career, which includes stints at hotel corporations and real estate investment trusts. He holds a bachelor’s degree in economics from the University of North Carolina.

Hunter Hotels, founded in 1978, has offices in Atlanta and Washington, D.C. Hunter’s exclusive focus is in hotel brokerage and hotel-related investment banking. Properties range from upper upscale to economy with an emphasis on premium-branded and quality independent hotels in the mid-market segment.

For more information or to view current listings, please visit http://www.hunterhotels.net/ or contact us at 770-691-0300 in Atlanta, or 703-246-0035 in Washington, D.C.

CONTACTS:

Patrick Daly, Account Executive, Daly Gray, 620 Herndon Parkway, Suite 115, Herndon, VA 20170. Tel (703) 435-6293. Fax (703) 435-6297. patrick@dalygray.com

Net Office Space Absorption in Red for Six Straight Quarters in Pinellas County, FL Market

TAMPA, FL--The slowing economy and the weak job market have sapped much of the demand for office space in Pinellas this year, reports Randy Smith, (top right photo) Director of Research, GVA Advantis, Tampa.

In his second quarter 2008 Pinellas Office Market Report, Smith notes net absorption has been in the red for six straight quarters, but its drop in the first half of 2008 was more significant, totaling negative 130,842 square feet.

This is nearly twice the decline in occupancy that was registered in Pinellas for all of last year.

Class B properties, which makeup about 40 percent of Pinellas County’s total office inventory, were hit the hardest.

This year, vacant space for this group pushed past the one-million square foot mark for the first time — at midyear 2008 direct vacancy averaged 19.3 percent for class B inventory, up 220 basis since the year’s start.

Unless there is a dramatic recovery in the second half of 2008, this year could prove to be one of the weakest in terms of annual office sales in Pinellas County.

The aggregate dollar volume of Pinellas office transactions through the first six months of 2008 was $19.9 million, off a dismal 85 percent from the same period last year.

The Pinellas office market will regain its footing as soon as the employment downturn in financial firms and business services companies begins to turn the corner, projected for mid-2009 at the earliest. Until then, users in select groups, especially health services and medical technology companies, should continue to provide some positive momentum for the Pinellas office market in the coming months.

CONTACT:

Randy Smith, Director of Research, Advantis Real Estate Services Company, 3000 Bayport Drive, Suite 100, Tampa, FL 33607. Tel 813.342.4725. Fax 813.372.4004. E-mail rsmith@gvaadvantis.com
www.gvaadvantis.com

SPECIAL REPORT: China Consumer Confidence Hits New Low in September as Fast Deteriorating Subprime Mortgage Crisis Lowers Future Expectations

SHANGHAI, /Xinhua-PRNewswire/ -- Xinhua Finance eziData China Consumer Confidence Index (CCCI) has been updated with the survey results showing that China Consumer Confidence Index declined 1.9 points to 91 in September after a slight rebound in August, led by a fall in consumer sentiment on future expectations.

(Dr. Richard Curtin, Research Professor and Director of the Consumer Sentiment Surveys at the University of Michigan's Institute of Social Research, top right photo.)

This shows high concerns on the part of the Chinese consumers about the future of the business conditions in China at a time when the subprime mortgage crisis in the US is evolving into a global financial crisis.

Consumer sentiment on current conditions inched up 0.1 point to 90.2, supported by stable general prices which were manifested in a relatively stable consumer satisfaction with current prices (only slightly lower than the month before). Shanhai night skyline, middle left photo.)

However, consumer sentiment on future expectations plunged 3 points to 91.4, creating a new low as well as the largest month-on-month fall in survey history since April 2007.

The sharp fall in consumers' future expectations was mainly due to the fast deterioration of the subprime mortgage crisis --- such as the take-over of Freddie Mac and Fannie Mae by the US government, as well as the bankruptcy of Lehman Brothers -- which made consumers in China worry about the future of China's business conditions.

Under the support of the Xinhua Finance family, Xinhua Finance eziData China Consumer Confidence Index is produced monthly by eziData, a local provider of China consumer data, and in association with Dr. Richard Curtin (top right photo). Dr. Curtin is Research Professor and Director of the Consumer Sentiment Surveys at the University of Michigan's Institute of Social Research.

The survey this month was conducted through 1,520 telephone interviews from September 1 to 15, 2008. April 2007 survey results are set as the benchmark value of 100. The September survey was completed on September 15.

After that, the US government released a program of US$ 700 billion to save the market, and the central government of China also issued a series of policies in the same effort. (Shanghai harbor, middle right photo)

According to eziData analysts, this is very likely to cause a strong rebound in consumer confidence in October.

However, the mid-long term trend in consumer confidence will be subject to the future trend in the subprime mortgage crisis as well as that in the stock market and real estate market in China.

Consumer Voices:"I really shouldn't buy a house and a car at the same time. The mortgage could kill you. And the prices are rising so fast that I could hardly meet my expenses with my income."

"The appreciation of RMB has undermined export with raised costs. Company performance is getting poor. And now the US is coming with the subprime mortgage crisis. I guess the economic growth will slow down."

"The house price rose so much last year, and only lowered a little this year. Who knows if it will go down again? I'd better wait and see."

The index is based on a monthly survey of around 1,500 Chinese households via stratified random sampling in 50 representative cities across East, Middle and West China using the same methodology as is used by the University of Michigan.

All data is collected via computer assisted telephone interviewing (CATI). Index of April 2007 survey is set as the benchmark (100).

Through its subsidiary Xinhua Finance Media Limited (NASDAQ:XFML), XFL leverages its content across multiple distribution channels in China including television, radio, newspaper, magazine and outdoor media.

Founded in November 1999, XFL is headquartered in Shanghai, with offices and news bureaus spanning 11 countries worldwide.

For more information, please visit http://www.xinhuafinance.com/.

About eziData: eziData is a local provider of China consumer data, serving both financial and consumer market participants. It aims to serve global and local business professionals with decision-making tools that relate to consumption in China and conform to international standards.

eziData's comprehensive portfolio of high-quality consumer data products, which includes a structured real-time databank, delivers a broader and more insightful view of the market.

For more information, please visit http://www.ezidata.com/.

For more information, please contact: Xinhua Finance China: Ms Joy Tsang, Tel: +86-21-6113-5999, or +86-136-2179-1577 Email: joy.tsang@xinhuafinance.com

Mr. Scott Zhang Tel: +86-21-6113-5996, Email: scott.zhang@xinhuafinance.com

HFF closes sale of Massachusetts self storage property

HOUSTON, TX – The Houston-based self storage group of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Secure Self Storage, (bottom right map) a 71,025 rentable-square-foot property in New Bedford, Massachusetts.

HFF represented the seller, The Veritas Group, LLC, a New York City-based real estate investment company that develops, acquires and manages self storage facilities in the Northeast and Mid-Atlantic regions of the U.S. and eastern Canada.

The buyer was an affiliate of Storage Opportunity Partners LLC, a firm headquartered in Farmington Hills, Michigan and Newton Highlands, Massachusetts that specializes in the acquisition, development, management and disposition of self storage facilities.

Located 45 minutes south of Boston at 376 Hathaway Road in New Bedford, at the interchange of Interstate 195 and State Route 140, the 517-unit, Class A facility was constructed in 2003.

“This facility offers a strong fit for Storage Opportunity Partners’ real estate portfolio. It is located at the intersection of two major thoroughfares that provide outstanding visibility and access to the property,” said Steve Mellon,(top right photo) HFF managing director.

“We are extremely pleased to complete this transaction, especially given the challenging economic conditions we are all experiencing,” said David Levenfeld, (bottom left photo) principal and co-founder of Storage Opportunity Partners.

“We are highly optimistic about achieving operating synergies by adding this facility into our portfolio of properties in Eastern Massachusetts.”

CONTACTS:

Aaron Swerdlin, HFF Senior Managing Director, 713 852 3537, aswerdlin@hfflp.com

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

Arbor Closes $4.45M Fannie Mae DUS® Loan on La Casa Illusion Apartments in Phoenix, AZ

UNIONDALE, NY, Sept. 23, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the funding of a $4,450,000 loan under the Fannie Mae DUS® product line to refinance the 60-unit complex known as La Casa Illusion Apartments (bottom left map) in Phoenix, AZ.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.26 percent.

The loan was originated by Ronen Abergel, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “Initially, this deal was slated as a condo conversion but the Sponsor switched to a rental operation,” said Abergel.

“In order to expeditiously get the Sponsor out of his high-interest hard money loan, we began due diligence during the property’s lease-up stage so that we could close immediately upon stabilization and by extension, prevent further deterioration of the Sponsor’s equity.”

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

Brookfield Residential Property Services Acquires GMAC Home Services LLC

Acquisition represents important expansion into US market

TORONTO, Sept. 23 /PRNewswire/ -- Brookfield Residential Property Services ("BRPS"), a division of Brookfield Asset Management Inc. ("Brookfield"), announced today that it has entered into an agreement to purchase GMAC Home Services LLC, a recognized leader in global relocation, real estate franchising and brokerage and home financing services, from GMAC Residential Holding Company LLC and Residential Capital LLC.

The transaction is expected to close in the fourth quarter 2008.

"The purchase of GMAC Home Services by Brookfield allows us to join a globally recognized and respected real estate and relocation services organization," said John Bearden, (top right photo) President and CEO, GMAC Home Services.

"This move will enhance the ability of two world-class organizations to pursue opportunities on a global scale. Given that both organizations have similar industry expertise and strong commitments to client service, we expect to quickly achieve the full potential represented by this transaction."

"Brookfield is a leading provider of residential property services in Canada," stated Chairman George Myhal.

"Notwithstanding the recent market turmoil, this acquisition represents an important opportunity for us to expand in the U.S. market for residential property services and we believe we are well-positioned to grow our market share once this difficult period of adjustment is behind us."

In Canada, Brookfield provides executive relocation services, home appraisals and property brokerage services under the Royal LePage, La Capitale, Johnston & Daniel and Centract brand names.

The GMAC Home Services' business units that are part of this acquisition include: GMAC Global Relocation Services, GMAC Real Estate and GMAC Home Services Mortgage. (Brookfield Asset Management stock chart for Jan. 23, 2008, middle right)

"This transaction will combine GMAC Home Services' global operations with our businesses, to create a platform for long-term North American and international growth," said Graham Badun, Managing Partner and CEO of BRPS.

"GMAC Home Services offers its award winning services through locations in forty seven states, Europe and Asia. This acquisition is evidence of our belief in the long-term opportunities for growth in the U.S. residential property services market."

Following the acquisition, BRPS will have one of the largest relocation companies in the world and its REALTOR(R) network will be almost 30,000 strong, based out of 1,500 locations across North America.

For more information, please contact:

Brookfield RPS: Rob Ireland Whetstone Communications , 416-595-9776 x226, rob@whetstonepr.com

Residential Capital LLC: Gina Proia, 917-369-2364, Gina.proia@gmacfs.com

Singaporean Based Real Estate Investor Acquires Fifty Percent of Stein Group International

NEW YORK, NY-- KOP Capital Pte Ltd has acquired a 50% stake in Stein Group International, parent company for one of the fastest growing portfolios of integrated companies in the luxury travel and leisure sector.

This investment, worth US $250 million, marks the local real estate company's foray into the global property arena, reaching across Europe and North America.

With KOP Capital's participation, Stein Group International will extend its brands into Asia by 2010, including Singapore, China, Indonesia and Thailand.

Under Stein Group International's "Stein Hotels and Resorts" brand, there are 15 hotels, 12 operating and three under development in seven European countries.

(Casa Angelina, Amalfi Coast, Praiano, Positano, Italy, a Stein Group property, top left photo)

In 2005, "Luxury Lifestyle Hotels and Resorts", a unique reservation system for over 125 small luxury hotels in Europe, was created.

LUX magazine was subsequently established by Stein as an in-room reading material to showcase elements of the luxury lifestyle.

"Singapore and Asia play very strategic roles in propelling KOP Capital towards the global property space. We recognise the growth of global wealth and affluent individuals around the world, and coupled with our understanding of this segment, we can elevate luxury living to a new stratum by establishing the "Stein" brands in Asia.

" In two years, guests will be able to enjoy the exceptional level of service and quality in Asia, be it during their stay in Stein Hotels and Resorts, or Stein Restaurants," said Ms Ong Chih Ching, Founder and Group CEO of KOP Capital.

(The College Hotel, Amsterdam, a Stein Group property, middle right photo)

Established by Mr David Stein, (top right photo) Founder and Chairman, and headquartered in Barcelona, Stein Group International has been focusing on the development and operation of a collection of small, luxury hotels located in the Northern Mediterranean and in selected European capitals.

Stein said, "We are very excited about working with KOP Capital in establishing and expanding Stein Group International's brands in Asia. Singapore is now the region's tourism hub and one of the top choices for living in the world.

"We are certain that KOP Capital will be a dynamic partner based on their strong understanding of the Asian real estate market and the audience segment.

"We are confident that Stein Group International will be able to build upon the strong track records of both organisations to deliver world-class quality living that our consumers are looking for."

(Villa Mangiacane, Tuscany, a Steing Group property, bottom left photo)

CONTACT:

David Fardon, Phone: +3493 452 1430, Email: dfardon@steinhotels.com

Stein Hotels And Resorts

http://www.steinhotels.com/Rambla Catalunya 89Barcelona, 08008, Spain, Tollfree: 877 783 4600, Phone: +34 93 452 14 30, Fax: +34 93 452 14 31

Email: info@steinhotels.com

SPECIAL REPORT: Capital Changes Expected to Have Huge Impact on Senior Housing Industry

TAMPA, FL--Allen McMurtry, (top right photo) president, CLW Health Care Services Group, reports on the highlights from the National Investment Center’s annual conference held in Chicago earlier this month. McMurtry says the NIC conference "consistently reflects the pulse of the Senior Housing industry."

Where are the deals? Where is the debt?

•75% or less loan to value will be common for the next three years
• Relationship lending will remain strong
• The CMBS market essentially does not exist today - - it could take 3 years for this market to
return
• A focus on operations is the only salvation for financing
• Smaller loan sizes are cheaper
• Mezzanine debt will be very important
• Syndication is the new securitization
• Recourse loans are becoming standard
• Near term fear - quantity of highly leveraged loans maturing in the next few years. Much of the debt is floating rate until maturity.

What is going to happen when this demand for recapitalization comes to market?

• The cost of equity and debt are almost the same
• Capital changes have a huge impact on such a small sector like Senior Housing

CAPITAL MARKETS

• It is the age of the health care REIT
• How will the new REIT laws affect public perception?

.Will the public perceive the REITs as riskier investments since they will now be able to play a more active role in operations through asset management?

REITS

• The Senior Housing industry needs to be more transparent - - putting forth clear and consistent
information so that outsiders can grasp industry fundamentals
• The industry should emphasize the health not the care in health care
• Market penetration potential is the upside story (not demographics)
• Higher penetration rates can be acceptable if the overall market acceptance of the product
is high - - i.e. Philadelphia marketplace
• Throw away appraisals completed in the last couple years - - these values are no longer applicable
in today’s market.

Institutional Investors noted the following:

- 6.75% - 7.5% cap rate with conservative underwriting (IL institutional stabilized properties)
- 175-200 basis point premium over multi-family (IL institutional stabilized properties)
- 12.5%-13% cap rates for Skilled Nursing

((The Pavilion at Crossing Pointe, Orlando, bottom left photo)

VALUES

• Construction financing - - some markets are requiring 40% equity going-in. Rates are good,
but terms are not.
• Numerous land acquisition opportunities not available two years ago
• One company noted that land costs are 12% - 15% of total project costs.

CONTACT:

Allen McMurtry, CLW Health Care Services Group, 4301 Anchor Plaza Parkway, Suite 400,
Tampa, FL 33634, (813)-349-8349, http://www.clwhcsg.com/