Foster Conant wins new landscape architectural contract in Hillsborough County, FL

ORLANDO, Fla., October 22, 2008 — Foster Conant & Associates has secured a landscape architectural services contract with Lakewood Pointe Partners LLC of Winter Park, Fla., for a new apartment complex in Hillsborough County, Fla.

Foster Conant is providing construction documents and construction observation for the 16-acre site. Dubbed Lakewood Pointe, the apartment complex is composed of seven, three-story buildings housing 144-units supported by surface parking.

Slocum Platts Architects of Winter Park, Fla., designed the complex. Avid Engineering of Orlando, Fla., is providing civil engineering. The project is being built by ASM Construction Partners Ltd. of Maitland, Fla.

Founded in 1969, Foster Conant & Associates is headquartered in Orlando, Fla.

The landscape architectural practice has a storied history of designing award-winning, site-specific landscape architecture for high profile public sector projects and private developments throughout the Southeastern U.S.

The 16-person firm is managed by principals Richard R. “Rick” Conant, FASLA, Keith Oropeza, ASLA, René A. Ramos, RLA and John P. Sullivan, III, ASLA.

Please visit http://www.fosterconant.com/ for additional information.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

NAI Realvest celebrates 20th Anniversary as leading regional commercial property company

ORLANDO — NAI Realvest, the Orlando firm that ranks as the region’s fourth largest commercial real estate services firm with more than 67 employees and sales associates and one of the area’s largest developers of industrial space, is celebrating its 20th anniversary.

George Livingston, (top right photo) chairman and co-founder of NAI Realvest, said the firm’s 39 sales associates negotiated commercial sales and lease transactions last year that totaled more than $263 million.

During the entire first year of operations, three Realvest brokers negotiated transactions that totaled almost $500,000, Livingston said.

The $42 million sale of the 2,300 acre Ginn Reunion Resort (top left photo) site in Osceola County near Disney and the $40 million sale of the 1,800 acre International Corporate Park (bottom right photo) development east of Orlando International Airport rank as the firm’s largest transactions over the past two decades, Livingston said.

The firm’s most prominent clients include many of the region’s largest land owners — Shell Oil Corp., Port Canaveral, (bottom left photo) A. Duda & Sons and MAS Properties.

NAI Realvest has developed investment properties valued at more than $100 million, said Paul P. Partyka, (middle left photo) former Winter Springs mayor who joined the firm nine years ago and took over as managing partner of NAI Realvest earlier this year.

Partyka said the firm’s research capabilities rank among the world’s most advanced. NAI Realvest also formed a development division.

About NAI Realvest

NAI Realvest in Orlando, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network.

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.

To learn more, visit http://www.nairealvest.com/.

CONTACTS:

Paul P. Partyka, Managing Partner, NAI Realvest 407-875-9989, ppartyka@realvest.com

George Livingston, Chairman/Principal Realvest Development mailto:glivingston@realvest.comest.com

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

Larry Vershel or Beth Payan, LV Communications, 407-644-4142, lvershelco@aol.com

C&W negotiates lease for relocation of defense technology company, EBC Electronics

ORLANDO, FL –-–Cushman & Wakefield of Florida, Inc. (C&W) announced the lease of a 3,050 sf office and flex-space facility located in the Oviedo Commerce Center. Leasee EBC Electronics specializes in simulation products and services for defense industry customers including Lockheed Martin and British Aerospace.

Mindy Boehm negotiated the lease, representing the landlord, Oviedo Commerce Center, in the transaction for the property located at 2460 Aloma Avenue, Suite 1000.

For more information please contact:

Mindy Boehm Associate Director, Retail Brokerage 407.541.4391 mindy.boehm@cushwake.com

Brook Hines Marketing and Public Relations Associate 407.541.4401 brook.hines@cushwake.com

Shaw Mechanical Services wins Lake County Schools contract

ORLANDO, FL, Oct. 21, 2008 — Shaw Mechanical Services LLC has secured a one-year continuing services contract with Lake County Schools, Tavares, Fla., for HVAC mechanical contracting services.

Under the terms of the contract, Shaw Mechanical will provide budget estimating, value engineering, installation, equipment start-up and commissioning services for the repair or replacement of mechanical systems, ductwork and controls for the school district’s 32 facilities county wide.

Shaw Mechanical Services LLC is a Central Florida-based provider of mechanical contracting and service to building owners, property managers, facility managers, plant engineers, general contractors and consumers.

Comprehensive services provided by Shaw Mechanical include retrofits, renovations, preventative maintenance, commissioning and installation of heating, ventilating and air conditioning systems, process piping, automatic temperature controls and custom climate applications for existing structures and new construction.

Founded in 2001 by David L. Shaw, the privately-held company employs a staff of seventy from its headquarters in Orlando, Fla.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com,

http://www.pr-works.com/

HFF secures $37.8M financing of London and Geneva properties

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $37.8 million in acquisition financing for two properties located in London, England and Geneva, Switzerland.

Working on behalf of TJAC, HFF director Anthony Cutone placed two loans through CTL Capital, LLC. Proceeds are being used to acquire and renovate the properties. TJAC is an international real estate development company.

Courtfield Gardens (top right photo) is a five-story property in the Kensington area of London. Rue Muzy is a six-story property in Geneva, (bottom left photo) Switzerland. Both properties presently exist as boutique hotels.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Anthony Cutone, HFF Director, 617 338 0990, acutone@hfflp.com

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

HFF secures $47.35M construction loan for Dallas mixed-use development

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $47.35 million construction loan for Brick Row, (top right photo) a mixed-use development under construction in Dallas, Texas.

HFF managing director Andy Scott (middle left photo) worked exclusively on behalf of the borrower, a joint venture partnership between Winston Capital Corporation, L&B Realty Advisors and the Michigan Employees Retirement System.

A three-bank syndication which was led by Colonial Bank, along with Texas Capital Bank and Broadway Bank, provided the three-year construction loan.

Upon completion in mid-year 2010, Brick Row will consist of 500 multifamily units and 16,000 square feet of ground-level retail space configured around two central parking structures.

Designed by Dallas-based BGO Architects, the property is situated in a park like setting. The completed Brick Row project is part of a large-scale master planned development consisting of for-sale townhomes, residential condominiums, ancillary retail, a public park, and will consequently be an upscale community unlike any other in the Richardson market.

Contiguous to the Spring Valley DART Rail Station (bottom right photo) at the intersection of Spring Valley and Greenville Avenue in the north Dallas suburb of Richardson, Brick Row will offer easy transportation to downtown Dallas (approximately 10 miles to the south), corporate centers to the north and major retail and entertainment destinations.

“To get this project financed in a turbulent capital markets environment is a testament to the commitment and resiliency of everyone involved in this endeavor, and is proof that development projects with stellar sponsorship and strong locations are getting done,” said Scott. “Colonial Bank, Texas Capital Bank and Broadway Bank never waivered in their focus or determination to get this deal to the finish line.

“Projects such as Brick Row are essential in defining the new landscape of transit oriented development in the Dallas Fort Worth metroplex, and represent viable and rewarding investment product for real estate firms to add to their portfolio for many years to come,” Scott added.

“Winston Capital Corporation’s long-term relationship with Colonial Bank helped to secure the deal,” said Tony Stephenson, area president of Colonial Bank. “Colonial has a genuine interest in its clients’ needs and goals while remaining dedicated to helping them come to fruition. We are honored to be an integral part of this project.”

CONTACTS:

J. Andrew Scott, HFF Managing Director, 214 265 0880, ascott@hfflp.com

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

Jones Lang LaSalle Says Washington Office Market in Flux but Job Growth Could Fuel Demand in 2009

Bad News: Tenants delay decisions, sit on sidelines.

Good News: Metro DC economy adds 44,600 jobs in the 12 months ending August 2008.

WASHINGTON, DC--Jones Lang LaSalle reports that a lame duck Administration, coupled with uncertainties regarding the upcoming presidential and congressional elections and the worst financial and economic crisis in a generation, clouded market conditions throughout the metropolitan Washington region at the end of the third quarter of 2008.

John Sikaitis, (top left photo) senior vice president, communications, Jones Lang LaSalle, notes tenants delayed decisions and sat on the sidelines, leading to slower leasing activity, tepid tour volume, extended deal length and negotiations and a heightened incident of renewals.

While market conditions slowed to a standstill as conservatism swept through the office market, job growth in the region was resilient.

Although the country has lost 760,000 JOBS over the past nine months, job growth in the DC region has actually increased from several months ago as the cushion of the government and its contractor base allowed the Metro DC economy to add 44,600 jobs in the 12 months ending August 2008.

Additionally, unemployment remained two full percentage points below the national average at 4.1 percent.

Over the past six months, as the national economy slowed, Metro DC's job growth accelerated, nearly doubling the 22,000 jobs created in the twelve months ending March 2008 by reaching its current level of 44,600 jobs.

The job creation should fuel additional office sector requirements in the first half of 2009 even as most metropolitan areas around the country have recently experienced contracting payrolls and occupancy declines.

Despite significant job creation, an aggressive development cycle in all three jurisdictions coincided with the slowdown in demand, shifting leverage to tenants in the vast majority of product types and locations over the past few quarters, which will undoubtedly linger for the coming quarters into the latter part of 2009, at a minimum.

For more information, please contact:

John Sikaitis, 202.719.5839, John.Sikaitis@am.jll.com
Scott Homa, 202.719.5732, Scott.Homa@am.jll.com

Sale of 1620 L Street in Washington, D.C. closed by HFF

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of 1620 L Street, (top right photo) a 164,079-square-foot Class A office building in Washington, D.C.

The HFF investment sales team was led by executive managing director Stephen Conley,(middle left photo) managing director Andrew Weir (bottom right photo) and director Daniel McIntyre who exclusively represented the seller, a joint-venture between TIAA-CREF and Equity Office.

The John Buck Company purchased the property for an undisclosed amount. HFF also secured acquisition financing on behalf of The John Buck Company.

1620 L Street is situated in downtown Washington, D.C. within walking distance of four Metro Stations, Farragut Park, as well as being proximate to the intersection of Connecticut Avenue and K Street, the “main and main” intersection of the District.

The 12-story property is 97% leased to tenants including the U.S. Bureau of Land Management, MetLife, Cresa Partners, the National Association of Independent Schools and Liberty Mutual.

“The Washington, D.C. office market continues to attract institutional capital given the stabilizing effects of the U.S. government,” said Conley. “The property’s location in the heart of the nation’s capital places the new owner in an ideal position to capture upside value over the next five to seven years.”

TIAA-CREF (http://www.tiaa-cref.org/) is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with $420 billion in combined assets under management (3/31/08).

Equity Office is one of the nation’s largest owners of office buildings with over 50 million square feet in major markets across the country. Equity Office is owned by an affiliate of The Blackstone Group, a leading global private equity firm that is listed on the New York Stock Exchange under ticker symbol BX.

Founded in 1981, The John Buck Company offers comprehensive real estate services in the areas of development, finance, investment brokerage, fund management, project leasing, tenant representation, marketing and management, as well as construction for commercial, mixed-use and residential properties.

The international, employee-owned firm is headquartered in Chicago. For additional information on The John Buck Company, please visit the company’s website at http://www.tjbc.com/.

CONTACTS:

Stephen C. Conley, HFF Executive Managing Director, 202 533 2500, sconley@hfflp.com

Andrew M. Weir, HFF Managing Director, 202 533 2504, aweir@hfflp.com

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

Grubb & Ellis|Commercial Florida negotiates $2.8M sale on 72,000 square foot industrial building in Tampa

TAMPA, Fla. -- Grubb & EllisCommercial Florida recently negotiated the sale of a 72,000 square foot industrial building on a two-acre site at 5102 W. Hanna Ave. (bottom right photo) in Tampa for $2,800,000.00.

Vice President/ Principal Jan Boltres, (top right photo) CCIM and Mike Scott, (top left photo) Vice President/ Principal at Grubb & EllisCommercial Florida’s Tampa office negotiated the transaction working with both the seller, Roger Kumar Revocable Trust and the buyer, Kennedy Investments, Inc.

Kennedy Investments has assigned Grubb & EllisCommercial Florida the listing of the property for lease at $4.25 per square foot.

“It’s encouraging to see there’s still investor confidence in the market despite the current economic conditions,” Boltres said.

Contacts:

Jan Boltres, CCIM or Michael Scott, Independently Owned & Operated Grubb & EllisCommercial Florida, 813-639-1111

Larry Vershel Communications, 407-644-4142

Grubb & Ellis Represents ACCO Brands Corporation in Sale of Northbrook Office Building

CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented ACCO Brands Corporation in the sale of 56,700 square feet of Class B office space at 1135 Skokie Blvd. in Northbrook to Stepan Chemical Company.

Senior Vice Presidents Louis Hall, (top right photo) Dirk Riekse (top left photo) and Chad Galayda (bottom right photo) managed the transaction.

“The building is in a phenomenal location with signage visible from the Edens Expressway,” said Hall. “Given the state of the market, the economics of buying the property worked out well for Stepan, which leased its prior location.”

ACCO Brands Corporation owns General Binding Corp., a manufacturer of office supplies for binding, lamination and other presentation products. GBC occupied the building prior to the sale.

Hall, along with John Best of Grubb & Ellis’ affiliate Grubb & EllisBest/White, also recently represented ACCO Brands in the sale of a 356,000-square-foot manufacturing and distribution facility in Nogales, Mexico, to ITT, a technology and engineering company.

Stepan Chemical Company, which was represented by Cushman & Wakefield, is a global manufacturer of specialty and intermediate chemicals used in consumer products and industrial applications.

Contact: Erin Mays, Phone: 312.698.6735. Email: erin.mays@grubb-ellis.com

Grubb & Ellis|Commercial Florida negotiates new long term lease of 14,300 square feet at Dynatech Centre in Orlando

ORLANDO, FL--Grubb & EllisCommercial Florida has negotiated a new long-term lease of 14,313 square feet of Class A office space on the 12th floor of downtown Orlando’s new Dynetech Centre (bottom left photo) at the northeast corner of Magnolia Ave. and Washington St.

Andrew E. McCaw, FMA, (top right photo) senior vice president of the firm’s Office Services Group in tandem with Bo Terry in the Grubb & Ellis Dallas office, negotiated the transaction representing Littler Mendelson, P.C., the nation’s largest law firm devoted to employment and labor law.

The firm is expanding from its current Orlando division offices in Baldwin Park. Littler Mendelson has over 45 locations and is based in San Francisco.

The landlord, Lincoln Orlando Holdings, LLC, was represented by Jeff Patterson.

Contacts:

Andrew E. McCaw, FMA, Grubb & EllisCommercial Florida, 407-481-5391
Larry Vershel Communications Inc., 407-644-4142

IHR to Manage Jackson Shaw's Hampton Inn Tropicana

Second Contract Expands Interstate/Jackson-Shaw Relationship in Las Vegas

ARLINGTON, VA—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent operator of full- and select-service hotels, is now managing the 322-room and suite Hampton Inn Tropicana (top right photo) and adjacent Southwest Event Center (bottom right photo) in Las Vegas, Nev.

It is the largest Hampton Inn among the brand’s more than 1,600 hotels worldwide.

The property, which recently completed a major refurbishment of all guestrooms, public spaces, pool and cabanas, is owned by Jackson-Shaw, a national real estate developer.

“This is our second Las Vegas property with Jackson-Shaw, for whom we also manage the 548-room Renaissance Las Vegas,” said Thomas F. Hewitt, (top left photo) chief executive officer. “Despite the current economic slowdown, Las Vegas remains a major travel destination, attracting more than 36 million tourists annually.

The hotel’s adjoining event center adds an important dimension to the property, which has become a popular venue for business meetings, weddings and other local social events. We believe this contract demonstrates Jackson-Shaw’s confidence in our ability to deliver excellent results at major urban properties.”

“In such a challenging economic environment, Interstate, with its size advantages and depth of experience with the full range of hotel products and market segments, was a logical choice,” said Christopher Sheldon, (middle left photo) vice president of hotel operations at Jackson-Shaw.

“They’ve already produced excellent results for us this year at our full-service Renaissance Las Vegas, and we’re confident they can duplicate that success at the Hampton Inn Tropicana.”

Located at 4975 Dean Martin Drive, a short walk from the fabled Las Vegas Strip lined with colossal mega casinos, the hotel is two miles from McCarran International airport and close to the UNLV campus and Thomas & Mack Center, the Fashion Show Mall and the Sands Convention Center, and the Las Vegas Convention Center.

The Hampton Inn Tropicana and adjoining Southwest Event Center provide a total of 10,000 square feet of flexible meeting and event space. The hotel can accommodate groups of up to 180 and offers full catering services and state-of-the-art audio/visual. The event center can accommodate larger meetings of up to 300 people, and can be configured as one grand conference room, a split conference room, a reception foyer, and an outdoor patio.

“We have added more than 50 management contracts to our portfolio this year, and we will continue on our path towards helping owners optimize returns, particularly in this challenging economic climate,” said Leslie Ng, Interstate’s chief investment officer.

For more information about Interstate Hotels & Resorts, visit the company’s Web site: http://www.ihrco.com/.

Contacts:
Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297,
julie@dalygray.com
Carrie McIntyre, SVP, Treasurer, (703) 387-3320

Silver-McCann Refinances Northlake Village Apartments in Indianapolis, IN

INDIANAPOLIS, IN/PRNewswire/ -- Silver-McCann Apartment Group, L.P. ("Silver-McCann") announced the refinancing of Northlake Village Apartments (top right photo) in Noblesville (Indianapolis), Indiana, which had been acquired using a bridge loan.

The 347-unit, garden-style community located in the Noblesville submarket of metropolitan Indianapolis was built in 1984 and purchased by Silver-McCann in October 2006.

The property was upgraded in 2007 and 2008 and was 94% occupied at the time of the refinancing. Proceeds from the Freddie Mac capped ARM mortgage originated by Primary Capital Advisors LC were used in part to pay off the original bridge loan.

"In this very difficult financial climate, we were able to close an attractive, long-term mortgage loan with Freddie Mac that both reduced our current debt service on Northlake Village and provided additional capital to Silver-McCann Apartment Group," said John McCann (middle left photo) of McCann Realty Partners.

"We are pleased with the way that we have repositioned Northlake Village and believe that the property has continued growth potential that we can realize over the next two years."

Silver Capital -- a division of Silver Companies -- and McCann Realty Partners closed their latest apartment investment fund, Silver-McCann Apartment Group II, L.P., after purchasing its fifth asset in July 2008.

The second fund closed with total acquisitions of $154 million made over the past 18 months. Since Silver-McCann made its first acquisition in 2005, its two funds have acquired almost 3,200 apartment homes.

Contact: Fleet Wallace, McCann Realty, (804) 290-8870 Bernadette Bruce, Silver Companies, (561) 981-5252

Wyndham Hotel Group Continues Expansion in China with 173-Room Hotel

PARSIPPANY, N.J. -– Ramada Worldwide, a member of the Wyndham Hotel Group family of lodging brands, continues to grow the Ramada® brand in China with the addition of the 173-room Ramada Changzhou upscale hotel in Changzhou, China.

The property, being developed by Changxing Group Co. Ltd, which signed a 20-year franchise agreement with Ramada Worldwide, is scheduled to open in December this year.

Wyndham Hotel Group is the largest U.S.-based hotel franchising company in China today, based on number of hotels, with over 140 properties open and under development under the Wyndham®, Ramada, Days Inn®, Howard Johnson® and Super 8® brand names.

“Wyndham Hotel Group continues to build a strong and diverse global portfolio by working with solid in-market players such as the Changxing Group,” said Tom Monahan, (top right photo) executive vice president of international development for Wyndham Hotel Group International. “The addition of the Ramada Changzhou hotel is indicative of the brand’s commitment to expanding in key markets.”

(Middle left photo, Downtown Changzhou at night)

The Ramada Changzhou hotel will feature a full service restaurant, bar, lobby lounge, fitness center, swimming pool, spa, business center and 325 square meters of meeting space.

Located near the 3000-year-old ancient city of Yancheng, the property is situated on the southern bank of the Yangtze River, just northwest of Shanghai. Changzhou is a part of the Jiangsu province and serves as a key center for China’s textile and food processing industries.

As of June 30, 2008, Wyndham Hotel Group, one of three principal components of Wyndham Worldwide Corporation (NYSE: WYN), encompassed 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/.

(Bottom right photo, Tianning Temple with pagoda behind it, in Changzhou.)

CONTACT:

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

+1 (973) 753-6590
Christine.DaSilva@WyndhamWorldwide.com