Dallas Logistics Hub Gets $20M bridge loan

DALLAS, TX – The Dallas and San Diego offices of HFF (Holliday Fenoglio Fowler, L.P.) have secured a $20 million bridge loan for the recapitalization of 1,031 acres in the Dallas Logistics Hub (DLH) (bottom right map), a 6,000-acre, master-planned development.

Working exclusively on behalf of the Allen Group, HFF associate director John Ahmed and senior managing director Tim Wright (top right photo) placed the 36-month, adjustable-rate loan with American Bank of Texas.

The land assemblage is located within the DLH, adjacent to Union Pacific’s Southern Dallas Intermodal Terminal, a proposed BNSF intermodal facility, four major highway connectors (Interstates 20, 45, 35 and Loop 9) and Lancaster Airport, which is in the planning stage to facilitate air-cargo distribution.

DLH, which spans across the communities of Dallas, Lancaster, Wilmer and Hutchins, is master-planned for 60 million square feet of distribution, manufacturing, office and retail developments.

“I can’t say enough good things about the caliber of the team at American Bank of Texas,” said Ahmed. “Despite a complex transaction and a historic level of disruption in the capital markets, they never waivered in their focus or in their commitment to this deal.”

The Allen Group, one the nation’s fastest growing privately held commercial development firms, specializes in the development of high-end industrial, office, retail and mixed-use properties throughout the U.S.

The Company’s major focus is the development of Logistics Parks and Inland Ports that are located adjacent to some of the most sophisticated rail, intermodal and highway infrastructure in the country.

The Allen Group has developed a wide rage of commercial projects and currently has over 8,000 acres under development across the U.S.

The Allen Group is based in San Diego with regional offices in Visalia, Bakersfield (California), Dallas and Kansas City.

For more information please visit: http://www.allengroup.com/ and http://www.dallashub.com/.

CONTACTS:

John Ahmed, HFF Associate Director, 214 265 0880, jahmed@hfflp.com

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

HFF arranges $38.7M loan through Freddie Mac for Nebraska multifamily property

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $38.7 million loan through Freddie Mac for The Links at Lincoln, (middle left photo) a 612-unit multifamily property in Lincoln, Nebraska.

HFF director Brian Carlton (top right photo) worked on behalf of the borrower, The Links at Lincoln, a Limited Partnership and Lindsey Management Company, Inc., to secure the 10-year, fixed-rate loan with the lender. Proceeds were used to retire the property’s construction financing.

Completed in 2007, The Links at Lincoln has one- and two-bedroom units that are currently 97% leased. Community amenities include a clubhouse with fitness center, activity room and business center, swimming pool, wading pool for kids and tennis court.

In addition, residents have access to a golf shop and unlimited golf privileges at the adjacent Links at Lincoln golf course, which is owned and managed by a Lindsey-affiliated company.

The property is located at 375 Fletcher Avenue close to the Interstates 80 and 180 interchange in Lincoln.

“Lindsey is one of the most prolific and respected multifamily developers in the country. Freddie Mac recognized this and worked extremely hard to rekindle this relationship in spite of the current turmoil in the capital markets,” said Carlton.

Fayetteville, Arkansas-based, Lindsey Management Co., Inc. (LMC) began operations in 1985 and since then has grown to become the largest property management firm of multifamily housing in the state of Arkansas. LMC currently manages over 29,000 units in Arkansas, Alabama, Kansas, Mississippi, Missouri, Nebraska, Oklahoma and Tennessee.

CONTACTS:

Brian G. Carlton, HFF Director, 214 365 0880, bcarlton@hfflp.com

D. Scott Rogerson, Lindsey Management Chief Financial Officer, 479 521 6686, scott.rogerson@lindseymanagmenet.com

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

Arbor Closes 7 Loans Totaling $40M in 4 States

Three Fannie Mae DUS® Loans Total $21,877,700

UNIONDALE, NY--Arbor Commercial Funding LLC ("Arbor"). a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, has funded three loans totaling $21,877,700 under the Fannie Mae DUS® product line. These loans include:

Jamestown Commons, Fayetteville, NC (top left photo)- Refinance of a 216-unit complex in the amount of $16,161,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

The Grant House, South Berwick, ME – Supplemental financing for a 22-unit complex in the amount of $185,900 under the Fannie Mae DUS® Small Loan product line. The 6-year loan amortizes on a 30-year schedule and carries a note rate of 6.70 percent.

Commons at Churchland, Chesapeake, VA - Refinance of a 124-unit complex in the amount of $5,530,800 under the Fannie Mae DUS® MAH product line. The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.02 percent.

The loans were originated by John Edwards, (top right photo)Vice President, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to provide financing for these well-located properties with strong sponsorship,” said Edwards.

Four DUS® Loans Totaling $18,285,500 Closed in Texas

Arbor also funded four loans totaling $18,285,500 under the Fannie Mae DUS® product line. These loans include:

Tree Top Apartments, Grand Prairie, TX – Refinance of a 128-unit complex in the amount of $3,804,300 under the Fannie Mae DUS® Cash product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

Northwood Apartments, Houston, TX (bottom left photo) – Acquisition loan for a 326-unit complex in the amount of $5,630,200 under the Fannie Mae DUS® product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.63 percent.

St. Cloud Apartments, Houston, TX - Acquisition loan for a 302-unit complex in the amount of $7,501,000 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30 year schedule and carries a note rate of 6.80 percent.

Stafford Oaks, Stafford, TX (bottom right photo)-– Supplemental loan for a 175-unit complex in the amount of $1,350,000 under the Fannie Mae DUS® product line. The 9-year loan amortizes on a 30-year schedule and carries a note rate of 6.78 percent.

The loans were originated by Matt Norman, (middle right photo) Director, in Arbor’s full-service Dallas, TX lending office.

“Arbor utilized the Fannie DUS® line for three differing structures on the subject loans, illustrating the versatility of the product line,” said Norman.

“One standard post-acquisition refinance, two acquisition loans with minor rehab, and a Supplemental loan on a repositioned property – all of which require differing strategic analysis.

"Arbor’s team worked through minor issues on all four loans, and in each case, provided financing that helped the Borrower meet his or her specific goals.”

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

Hampton Hotels Opens 15 Properties in September

BEVERLY HILLS, CA, Oct. 14, 2008—Hampton Hotels (www.hampton.com), the international brand of nearly 1,600 mid-priced Hampton Inn® and Hampton Inn & Suites® hotels, opened 15 properties in September 2008, aggregating 1,548 new rooms.

The new openings consist of nine Hampton Inn hotels and six Hampton Inn & Suites properties. All openings are franchised, newly constructed hotels.

(The 81-room Hampton Inn & Suites, Dallas/DeSoto, top left photo, opened Sept. 19.)

“As the economy continues to soften, savvy travelers are going to greater and greater lengths to find hotels that offer value-added services and amenities,” said Phil Cordell, (middle right photo) senior vice president, Hampton Hotels. “With complimentary hot breakfast and high-speed internet access, Hampton meets those needs—an ideal combination for both developers and guests.”

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

Under the “Friend in Town” initiative, Hampton web sites feature a local flavor, with area photography highlighting each property’s local connections and original copy discussing nearby attractions, historical facts and fun things to see and do around town.

CONTACTS:

Sheryl Shelton, Hampton Brand Communications, 901 374 6383

Chris Daly, Daly Gray Public relations, 703 435 6293

Arbor Closes Three DUS® Loans Totaling $4,994,000

UNIONDALE, NY, Oct. 14, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three (3) loans totaling $4,994,000 under the Fannie Mae DUS® product line. These loans include:

Palm Villas Apartments, (top right photo) Edinburg, TX - Acquisition of a 96-unit complex in the amount of $2,208,000 under the Fannie Mae DUS® Small Loans product line.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.

Winchester-Smithfield Apartments, (bottom left photo) Winchester, VA - Acquisition of a 44-unit complex in the amount of $1,600,000 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.72 percent.

Back Acres, Johnson Creek, WI - Acquisition of a 45-unit complex in the amount of $1,186,000 under the Fannie Mae DUS® MHC product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.59 percent.

The loans were originated by Peter Margolin, (top left photo) Director, in Arbor’s full-service Deerfield, IL lending office.

“All three loans helped the buyers meet the timelines of their transactions,” said Margolin “It provided them with the maximum leverage that was available in the market.”

Contact: Ingrid PrincipeTel: (516) 506-4298
iprincipe@arbor.com

CBRE Reports Few New Retail Tenants Signing Deals in Jacksonville, FL

JACKSONVILLE, FL-CB Richard Ellis' Jacksonville, FL office reports that while a slight second quarter economic uptick occurred, forecasters’ predictions for a rocky third quarter proved to be
accurate.

Lea Court (top right photo), CBRE Director of Retail Leasing, Jacksonville, notes the third quarter ended with consumer confidence at record low levels as a “complete meltdown” of the financial markets was avoided only by unprecedented governmental intervention.

The state of the economy has affected consumer spending in a tangible way.

At the root of the problem is the mortgage crisis as borrowers took on loans they
could not afford, made by lenders acting irresponsibly.

This, coupled with rising fuel
costs, high unemployment and election uncertainties impacted third quarter results.

These conditions are not expected to improve in the near future, and total retail sales for the holiday forth quarter ’08 will be the weakest in 6 years, according to a forecast by CNN Money. Worst hit will be retailers selling non-essential items and those with product lines dependent on a strong housing market. This trend will be felt both nationally and locally.

As an example, Starbucks is closing 600 stores nationwide, six of which are located in the
Jacksonville MSA.

Conversely, on a local level, the retail vacancy rate stood at 6.7 percentage,
roughly unchanged from the second quarter but significantly better than the national average of 8.2 percentage.

Year to date absorption is positive 909,664 sq. ft., however third quarter absorption is negative 13,197 sq. ft.

The overall high absorption is a function of big box/mid box space that was largely pre-leased at three centers that have been completed so far this year:

OakLeaf Town Center (860,000 sq. ft.) (bottom right photo), OakLeaf Commons (73,717 sq. ft.) and Kendall Town Center (275,066 sq. ft.) totaling 1,208,783 sq. ft.

From the landlords’ perspective, with few new tenants signing deals, the main focus for the short term is tenant retention. During these challenging times, many national, regional and local tenants are scaling back as landlords are offering concessions as tenants’ renewals occur.

Other third-quarter highlights:
• Jacksonville retail vacancy rate is 1.5 percentage lower than the national average with 6.7 percentage.

• Unemployment rates are up across the board. While Jacksonville is lower in the overall Florida market, and Jacksonville surpasses the National unemployment rate.

• University of Central Florida Institute for Economic Competitiveness is reporting that the Jacksonville MSA is expected to show moderate growth in the economic indicators.

• The Florida Agency for Health Care Administration has approved for St. Vincent’s HealthCare to build a 98-bed hospital in Clay County.

Sotheby’s Global Commercial Group to Host Worldwide Auction of More Than 30 Florida Commercial Properties Dec. 11

ORLANDO, FL -- Stirling Sotheby’s Global Commercial Group in conjunction with Stirling Sotheby’s Auction Services will host a worldwide auction of more than 30 Florida commercial properties on Dec. 11 in Orlando.

Roger Soderstrom, (top left photo) founder and owner of Stirling Sotheby’s International Realty said most of the commercial properties to be auctioned are located within 50 miles of Orlando but some properties may be located as far away as Miami, Naples and Jacksonville.

Auction properties will include office buildings, retail and industrial facilities, development sites and raw acreage, Soderstrom added, along with select builder and developer residential product inventories.

“This may be the largest single auction of Central Florida commercial properties ever,” said Soderstrom. “We expect strong buyer interest from throughout the U.S. as well as Canada, the U.K., Europe and Brazil,” he said.

Soderstrom said Stirling Sotheby’s International Realty will market the auction worldwide through a widespread marketing strategy that includes Sotheby’s International Realty’s network of more than 500 offices in 36 countries and territories worldwide.

In addition to bidding at the Orlando auction site, bidders worldwide will be able to bid live online over the Internet.

“From our affiliates worldwide, we know that Central Florida commercial properties are in high demand by affluent buyers,” Soderstrom said. “We assume interest will be strong, so we are expecting to set records at this event,” he said.

Bidders can register and participate in person, via telephone (407-588-1260) or live, online at (www.AuctionsByStirling.com).

Other sites:
www.StirlingCommercial.com,

www.StirlingSIR.com,

www.SothebysRealty.com

For more information about this press release, contact:
Roger Soderstrom, Stirling Sotheby’s International Realty Founder/Owner 407-588-1260
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Marriott International Reports Third Quarter Results

BETHESDA, MD/PRNewswire-FirstCall/ -- Third Quarter Highlights:

-- Worldwide comparable company-operated revenue per available room (REVPAR) rose 3.4 percent (1.1 percent using constant dollars) for the third quarter ended September 5, 2008;

-- Outside North America, comparable company-operated REVPAR increased 13.4 percent (5.7 percent using constant dollars) with double-digit growth in South and Central America, the Caribbean, and the Middle East;

(Marriott corporate headquarters building, Bethesda, MD, middle left photo)

-- In a weak economic environment, North American comparable company-operated REVPAR declined 1.0 percent with a 1.6 percent increase in average rate;

-- The company's worldwide pipeline of hotels under construction, awaiting conversion or approved for development totaled over 130,000 rooms;

-- Over 6,500 rooms opened during the third quarter, including almost 2,300 rooms outside North America.

Marriott International, Inc. (NYSE:MAR) has reported third quarter 2008 adjusted income from continuing operations of $123 million, an increase of 1 percent over the year-ago quarter, and adjusted diluted earnings per share ("EPS") from continuing operations of $0.34, up 10 percent.

(Marriott Denver International Hotel, middle right photo)

The company's EPS guidance for the third quarter, disclosed on July 10, 2008, totaled $0.30 to $0.35.

Adjusted results for the 2008 quarter exclude a $29 million ($0.08 per diluted share) after-tax non-cash charge primarily related to a 1994 tax planning transaction.

Reported income from continuing operations was $94 million in the third quarter of 2008 compared to $122 million in the year-ago quarter.

Reported diluted EPS from continuing operations was $0.26 in the third quarter of 2008 compared to $0.31 in the third quarter of 2007.

J.W. Marriott, Jr., (top right photo) Marriott International's chairman and chief executive officer, said, "In our more than 50 years in the lodging business, we have focused our business strategy on meaningful competitive advantages -- strong brands, skilled management, and leading guest, owner and franchisee preference -- all combined in a time-tested business model of managing and franchising hotels.

"These attributes drive strong returns when the economic picture is bright and allow us to outperform competitors when times are more challenging. The third quarter demonstrated those advantages.

(Marriott Wailea Beach Resort and Spa, Hawai, middle left photo)

"With soft economic growth, our third quarter North American REVPAR declined modestly. Favorable international REVPAR and strong global unit growth enabled our fee revenue and operating income to remain steady. Over the past 12 months, we have opened over 200 hotels, including over 30 hotels converted from competitor brands.

"Our timeshare business has certainly been far more impacted by the current financial environment than our core lodging business.

" Tight credit, soft consumer spending and a difficult securitization market have lowered our expectations for the fourth quarter and 2009.

"However, our strong brands, high customer satisfaction and loyalty, and the terrific know-how of our associates will reward us in the future. Our financial leverage is modest, we have ample liquidity, and our market share continues to grow.

(Marriott World Center Resort, Orlando, bottom right photo)

"Increasingly, our presence is global. During the quarter, nearly 70 percent of the company's incentive fees were earned at properties outside North America. Today, our pipeline of hotels under development totals over 130,000 rooms worldwide.

We expect to open approximately 30,000 rooms in 2008 and 30,000 to 35,000 rooms in 2009. Companywide we are maximizing revenue opportunities and operating efficiencies while redefining and refreshing our brands. We're confident that as the economy strengthens, we'll be well positioned to achieve solid earnings growth."

For a complete copy of Marriott's news release, please contact:

Tom Marder of Marriott International, Inc., +1-301-380-2553, thomas.marder@marriott.com

Web sites: http://www.marriott.com/

http://www.marriott.com/investor

Equitable Resources Leases 257,000 SF at 625 Liberty building in Pittsburgh, PA

PITTSBURGH, PA /PRNewswire/ -- Equitable Resources, Inc., has leased 257,000 square feet of office space in the building currently known as 625 Liberty Avenue.(top right photo)

The company, the largest natural gas company in the Appalachian Basin -- and one of the largest in the country -- needs the additional space to accommodate rapid growth in its production and midstream business units.

Equitable Resources is widely recognized as a technology leader in the industry. The company currently holds natural gas drilling rights to more than 3.3 million acres in the Appalachian region and operates more than 13,000 gas wells, and 15,000 miles of pipeline throughout Kentucky, Virginia, West Virginia, and Pennsylvania.

"There are other natural gas producers operating in Appalachia, but we call the region our home -- so locating our headquarters at the Gateway to Appalachia is a 'natural'," said Murry Gerber, Equitable Resources' Chairman and CEO.

"Our production and midstream businesses have experienced tremendous growth, due in large part to our employees' ability to both innovate and deliver everyday results."

"Pennsylvania is committed to creating an environment where businesses can thrive," DCED Secretary Dennis Yablonsky (middle right photo) said. "State support helped Equitable Resources expand in the commonwealth, and hundreds of new jobs will be generated for the hard-working men and women of southwestern Pennsylvania."

A joint statement was issued by Allegheny County Executive Dan Onorato (bottom left photo) and Pittsburgh Mayor Luke Ravenstahl (top left photo):

"We are delighted that Equitable Resources is solidifying its presence in southwestern Pennsylvania by retaining the location of its utility on the North Shore and expanding Equitable Resources' production and midstream operations in Downtown Pittsburgh.

"Equitable Resources' decision is further proof that our region can successfully compete with other areas of the country to create jobs and further economic development."

Equitable Resources expects to begin moving its employees into the 625 Liberty Avenue building beginning in Spring, 2009; the transition is expected to be complete by the end of Summer, 2009.

The company's natural gas utility, a subsidiary, will continue to operate out of its North Shore building.Equitable Resources, Inc. is an integrated energy company with an emphasis on Appalachian area natural gas supply, gathering, processing, transmission and distribution.

CONTACT: Wayne J. Desbrow, Director, Communications of EquitableResources, Inc., +1-412-553-5738 Web site: http://www.eqt.com/

Jones Lang LaSalle Reports Slow Office Leasing in Metro Washington, D.C. Markets

10.1 million s.f. were under construction at quarter’s end with 76 percent of that space available for lease

The Washington, DC office market consists of nine submarkets including Capitol Hill, the Central Business District, East End, Georgetown, NoMa, Southeast, Southwest, Uptown and the West End.

(The nation's Capitol, top right photo)

WASHINGTON, DC--The combination of a summer slowdown, uncertainties regarding the next administration and national economy and unstable credit markets produced slow leasing and sales velocity throughout Washington, DC’s nine submarkets in the third quarter of 2008, according to Jones Lang LaSalle.

Renewals represented the majority of leasing activity with the federal government, for the first time in several years, accounting for the vast majority of the occupancy gains / expansions posted during the quarter.

Looking ahead, options for tenants will continue to increase through the fourth quarter of 2008 and into 2009 as 10.1 million s.f. were under construction at quarter’s end with 76 percent of that space available for lease.

(Federal Reserve Bank building, middle left photo)

With vacancy levels continuing to increase, rent growth will remain curbed, with rent decreases likely to continue in the outlying markets of Southeast, NoMa and Southwest and certain parts of the outer-core CBD and East End Commodity A markets.

For a detailed copy of the Jones Lang LaSalle report, please contact:

Dave Bevirt, (bottom left photo) Managing Director, Agency Leasing

Greg Lubar, (middle right photo) Managing Director, Tenant Representation

John Sikaitis, Senior Vice President, Communications, john.sikaitis@am.jll.com

World’s Largest Ramada Hotel Opens in Mecca, Saudi Arabia

PARSIPPANY, N.J. (Oct. 13, 2008) – Ramada Worldwide today announced the grand opening of its largest hotel, a 998-room property in the Islamic holy city of Mecca, Saudi Arabia.

Located in the holy district of the Haram, a site of the highest sanctity, and less than a quarter of a mile from the Holy Mosque, the 29-story Ramada® Makkah (top left photo) caters to guests looking to make the pilgrimage to Mecca during the Hajj and Umrah seasons.

In addition to being located within walking distance of many of the city’s holy sites the property offers private underground parking, four restaurants and meeting space for up to 250 guests. Each room features high-speed Internet access, free local and long distance telephone calls, a 26-inch plasma television and an in-room safe.

The hotel, owned by Riyada International Hotels and Resorts and managed by Al Massa Hotels Company, is the Ramada brand’s second property in Mecca and its 11th in Saudi Arabia.

“With the opening of this property, Wyndham Hotel Group builds upon an already strong relationship with Riyada International Hotels and Resorts as well as Al Massa Hotels,” said Sean Worker, (bottom right photo) Wyndham Hotel Group senior vice president and managing director, international operations.

Riyada International Hotels and Resorts Company, developer and master licensee of Ramada hotels in Saudi Arabia, offers a wide range of hotel management and license services and specializes in the areas of hotel development and operations.

The company currently operates 10 properties in eight major cities throughout Saudi Arabia.

(Photo at left shows pilgrims on the Hajj, filling the Great Mosque in the city of Mecca.)

Al Massa Hotels Company owns, operates and has equity interests in more than 20 hotels throughout Saudi Arabia, with a focus in the city of Mecca. In addition to operating five hotels under the Ramada brand name, the company also operates hotels under its own brand name of Al Massa.

Ramada Worldwide, a member of the Wyndham Hotel Group family of lodging brands, is a chain of hotels featuring complimentary breakfast, high-speed Internet access, spa-inspired amenities and daily newspaper.

As of June 30, 2008 the brand had over 860 properties and 107,200 rooms. Select properties offer complimentary meeting rooms; banquet facilities; copy and fax services; swimming pools; and fitness centers.

Reservations and information are available by visiting http://www.ramada.com/. Ramada hotels are independently owned and operated under franchise agreements with Ramada Worldwide, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN).

CONTACT:
Christine Da Silva
Director, Media Relations
Wyndham Hotel Group
1 Sylvan Way
Parsippany, NJ 07054

Ratings On 25 AIG-Related Housing Bond Issues Put On CreditWatch Negative

NEW YORK --Standard & Poor's Ratings Services has placed 25 housing bond ratings on CreditWatch with negative implications.

This action follows Standard & Poor's Oct. 3, 2008, placement of American International Group Inc. (AIG) on CreditWatch with negative implications.

All affected bond issues receive partial support in the form of guaranteed investment contracts (GICs) from American International Group, AIG Matched Funding Corp., or AIG Financial Products Corp. A complete listing of the affected bonds is shown.

For a complete listing of the affected bonds, please contact Edward Sweeney, New York, (1) 212-438-6634, edward_sweeney@standardandpoors.com

Analyst Contacts:
Renee J Berson, New York (1) 212-438-7966
Valerie White, New York (1) 212-438-2078