Former CNL Executives Form Legacy Hotel Advisors

Strategic Focus on Hotel Repositioning and Complex Transactions to Drive Value during Turbulent Economy

ORLANDO, FL – Three seasoned commercial real estate executives have formed Legacy Hotel Advisors (Legacy), a firm specializing in strategic hotel positioning, debt and equity capital sourcing, complex transactions, condo and mixed-use conversions, site selection, opportunistic development and asset management.


The company is headquartered in Orlando, Fla., with offices downtown in The Plaza South.

“Collectively, our firm brings more than 100 years of experience in the hospitality, development and real estate industries, and together have completed more than $4 billion in hotel and real estate transactions, ranging from limited-service assets and independent boutique hotels to iconic luxury resorts,” said Thomas J. Hutchison III, (top right photo) founding member and chairman of Legacy.

Hutchison was previously the CEO of CNL Hotels & Resorts, Inc., responsible for building the hotel REIT from $250 million to $7.2 billion during a seven-year period before selling the company to Morgan Stanley in April 2007.

Reflecting on the firm’s depth of transaction experience, Hutchison noted that Legacy offers several defining advantages.

“Our team has invested our entire careers in capitalizing on down cycles, with a credible track record of creating tremendous value for our clients," he says. " From capital sourcing to strategic repositioning, we bring first-hand experience, innovative solutions and collaborative transactional expertise, with an ability to achieve win-win relationships in every facet of the business.”

The firm is undertaking a multiple hotel project in Orlando, located along the Western Beltway at the new entrance of Walt Disney World.

Development details are forthcoming, with additional major projects expected to be announced in the coming months.

(Skyline view of several downtown Orlando office properties, middle left photo)


Particularly in the wake of the current market crisis, Legacy’s pipeline of assignments is expanding rapidly to meet a growing industry demand to find value-enhancing solutions for existing properties and well positioned new properties.

The firm’s senior leadership team includes:

Thomas J. Hutchison III, chairman and founder, brings more than 35 years of experience focused in the lodging, hospitality, real estate development and financial services industries.


Hutchison previously held key executive positions for CNL Financial Group, Inc., including serving as CEO of several companies: CNL Hotels & Resorts, Inc., CNL Retirement Properties, Inc., CNL Income Properties, Inc. and CNL Realty & Development, Inc.


Under his leadership, CNL Hotels & Resorts transformed from a start-up hotel REIT into one of the largest and most distinctive lodging companies in the country, acquiring such assets as the Grand Wailea Resort Hotel & Spa in Maui, the Arizona Biltmore Resort & Spa in Phoenix and the Ritz-Carlton and JW Marriott at Grande Lakes in Orlando.

Hutchison also led more than $3.8 billion in acquisitions through his tenure at CNL Retirement Properties, as well as holding prior roles as chairman and CEO of Atlantic Realty Service, Inc. and TJH Development Corporation.

(CNL Center II, next to City Hall building, bottom right photo)

Additional experience includes serving as the court-appointed president and CEO of General Development Corporation through the reorganization process, as well as president and CEO of Murdock Development Corporation and Murdock Investment Corporation, where he managed an average of $350 million of new development per year for nine years.

Jay H. Berlinsky,(top left photo) president and CEO, offers more than 25 years of experience in finance and real estate development.

He has executed $1 billion in purchase, sale, lease and trade transactions; developed or advised on 3,000,000 square feet of corporate and special-use facilities; developed 3,500 acres in master-planned mixed-use development; and secured $100 million in capitalization and debt financing.

Prior leadership roles include serving as executive vice president of CNL Realty & Development Corp. and as an independent real estate developer.

In 2005, Berlinsky founded SC Advisors, a firm that oversees large-scale development projects, with more than $570 million in projects currently under management.

(Lake Eola, downtown Orlando, bottom left photo)


David F. Urban, senior vice president of planning, is responsible for the management of hotel development activities with 20 years of expertise in architectural and engineering design, commercial real estate development and construction.

Most recently, Urban served as vice president of capital planning for Pyramid Advisors, where he led the master planning efforts for the resort division with a budget exceeding $1 billion. Prior to that, Urban led luxury hotel, resort and condominium development efforts at such companies as CNL Hotels & Resorts, Inc., Beach Colony Resorts, and Wyndham International.

Legacy Hotel Advisors provides specialized hotel real estate services to leading and independent hospitality companies. Comprised of industry professionals from the hospitality sector, development and real estate disciplines, the firm’s members provide advisory services that align with their expertise in asset repositioning, site selection, hotel real estate valuation, debt and equity capital sourcing, asset management, and construction management.

Media Contacts:
Thomas J. Hutchison III
Legacy Hotel Advisors
407.412.9200

Jay H. Berlinsky
Legacy Hotel Advisors
407.412.9200

Alcion Ventures Adds Three Professionals to Investment Management Team

BOSTON, MA, Dec. 1, 2008 – Alcion Ventures announced today that it has added three professionals to its investment management team. These additions position Alcion to take advantage of distressed real estate investment markets.

David Ferrero (top right photo) oins Alcion as a Partner and is responsible for investment management, investor relations, and new business development.

Mr. Ferrero has more than 15 years of diversified real estate investment management experience. Prior to joining Alcion, he was the Director of Real Estate Investments for Harvard Management Company and a principal at Charlesbank Capital Partners.

Mr. Ferrero is a Chartered Financial Analyst and member of the Association for Investment Management and Research as well as the Boston Security Analysts Society. He has a Bachelor of Science in Economics from Wharton School of Business at the University of Pennsylvania.

Eugene DelFavero joins Alcion as a Partner and the Chief Financial Officer and is responsible for the financial, accounting and tax oversight of Alcion’s funds and investments. Mr. DelFavero has more than 20 years of real estate finance experience.

Prior to joining Alcion, he was a Managing Partner at RJ Gold & Company. Mr. DelFavero is a CPA in Massachusetts and a member of the American Institute of Certified Public Accountants and the Massachusetts Society of Certified Public Accountants.

He has a Bachelor of Science in Accounting from Northeastern University and a Master of Science in Taxation from Bentley College.

Meg Donahue joins Alcion as an Associate and is responsible for financial and investment analysis and investment management. Prior to joining the firm, Ms. Donahue was an Associate at The Praedium Group LLC. She is a member of the Urban Land Institute and holds a Bachelor of Arts from Harvard University.

“We are pleased that Gene and Dave are joining Mark Potter (bottom left photo) and me as Partners, and to have Meg as an Associate,” said Martin Zieff, (middle right photo) Founding Partner of Alcion.

“We are excited to expand the Alcion team with these talented individuals and position ourselves to manage our existing portfolio and take advantage of the current investment environment.”

Based in Boston, Alcion Ventures is a real estate private equity firm and the investment manager for all Alcion Funds. Alcion Ventures executes a high-yield strategy with uniquely positioned real estate in select markets. For more information about Alcion Ventures, visit the company's website, http://www.alcionventures.com/.

Contact:

Laurie F. McDowellgoFish! communications, lkfish@hotmail.com, 617-875-5070

SPECIAL REPORT: Finally, A Little Good News for Commercial Real Estate Industry

CHICAGO, IL, Dec. 1, 2008--The Real Estate Capital Institute's periodic Scoreboard today shows the Fed's aggressive action of pumping more liquidity into financial markets is starting to reinvigorate real estate lending.

Helped by TARP funds, select financial institutions are offering competitive short-term loans.

Furthermore, the Treasury yield curve moved downward by about a half percent during the past month, easing overall pricing.

Current income-property mortgage pricing and underwriting trends are outlined as follows:

* While liquidity remains a key concern, overall interest rates are moving downward.

* Despite wild fluctuations in key indices (e.g., LIBOR), keeping track of pricing is becoming less challenging as numerous funding sources impose rate floors.

* Floating rate debt starting at 5% is among the most competitive pricing options available, while most types of longer-term financings start at 6%.

* Subsidized by agency funds, multifamily properties attract the lowest price debt, while office, industrial and retail properties capture pricing that is at least 25 to 75 basis points higher.

* Debt service coverage restrictions start at 120% for acquisitions and 125% or more for refinancings.

And while debt service coverages remains somewhat constant, shorter amortization schedules of 25 years or less are used as additional underwriting safety measures along with overalll leverage underwriting of 65% of value (apartments are still funded in excess of 70%).

The Real Estate Capital Institute's advisory board member, John Oharenko, (top right photo) comments: "Pricing discussions are returning to absolute rates, rather than quoting spreads."

He argues that the limited universe of active lenders fully dictate terms, including establishing minimum pricing thresholds which are not necessarily linked to specific indices such as Treasurys or LIBOR.

Oharenko adds, "Expect to see lower mortgage rates for 2009 as the Fed continues a monetary blitz of helping banks and other financial institutions return to the market to recreate more competition and liquidity."

Contact:

Nat Zvislo, Research Director, Toll Free 800-994-RECI (7324), director@reci.com

The Real Estate Capital Institute(r)3517 West Arthington StreetChicago, Illinois USA 60624

http://www.reci.com/

Trump Entertainment Resorts Holdings L.P. Rating Lowered To ‘D’

NEW YORK, NY--On Dec. 1, 2008, Standard & Poor's Ratings Services lowered its corporate credit rating on Atlantic City-based Trump Entertainment Resorts Holdings L.P. (TER) to 'D' from 'CCC'.

In addition, the issue-level rating on the senior secured notes co-issued by TER and Trump Entertainment Resorts Funding Inc. was lowered to 'D' from 'CCC-'.

(Top left photo, Donald J. Trump and wife Melanie.)

"The rating actions stem from the company's announcement that it will forego making the Dec. 1, 2008 interest payment on its senior secured notes," said Standard & Poor's credit analyst Ben Bubeck.(bottom right photo)

A payment default has not occurred relative to the legal provisions of the notes since there is a 30-day grace period to make the payments.

"However, we consider a default to have occurred when a payment related to an obligation is not made, even if a grace period exists, when the nonpayment is a function of the borrower being under financial stress--unless we are confident that the payment will be made in full during the grace period.

"If the interest payment due under the senior secured notes is not paid during the 30-day grace period, holders of 25% of the outstanding principal amount of the notes would be permitted to accelerate the maturity of the notes. This would result in a cross-default under the company's senior secured term loan (unrated). "

Media Contact:
Mimi Barker, New York (1) 212.438.5054, mimi_barker@standardandpoors.com

Analyst Contacts:
Ben Bubeck, CFA, New York (1) 212-438-2176
Craig Parmelee, CFA, New York (1) 212-438-7850

Hans Mumper Joins Grubb & Ellis Company as

LOS ANGELES, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announces Hans Mumper (top right photo) has joined the company as senior vice president and director of Management Services for Southern California.

He will oversee all aspects of the company’s property management operations throughout the region.

“We are fortunate to have an individual with Hans’ background and experience to take on this important role,” said Eric Forshee, executive managing director for Grubb & Ellis Management Services in the Western Region.

A 22-year veteran of the commercial real estate industry, Mumper comes to Grubb & Ellis from BentleyForbes where he was senior vice president and co-director of portfolio management for the firm’s nine million square feet of office assets in 10 states.

Previously, he was director of Real Estate Services and Acquisitions for USAA Real Estate in the Western Region. Prior to that he was a senior director with R&B Commercial Real Estate.

He began his commercial real estate career with Grubb & Ellis in 1986 as an office broker with the company’s downtown Los Angeles office.

Mumper is a member of the National Association of Industrial & Office Properties, the Building Owners and Managers Association and the Los Angeles Commercial Realty Association. He is a graduate of Occidental College.

Contacts:

Sharon Abar, 714.975.2185, sharon.abar@grubb-ellis.com

Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com

Sheraton Mahwah to Complete $8.2M Renovation

MAHWAH, NJ -- The Sheraton Mahwah Hotel, (top right photo) located at the Crossroads Corporate Center, is currently undergoing an $8.2 million renovation.

Scheduled for completion by first quarter 2009, guestrooms and common spaces will feature a fresh new look, in addition to a variety of upgraded amenities to enhance the guests’ comfort and overall experience.

“The renovations complement our impeccable service,” General Manager Kevin Wolford said. “The guest experience is designed to meet the needs of travelers who are in search of comfort and familiarity, offering them spacious accommodations, thoughtful amenities and superior service. When a guest chooses to stay with us, our commitment to service and loyalty will leave a lasting impression.”

Located in Northern Bergen County, Sheraton Mahwah Hotel is just 40 minutes outside of New York City and 40 minutes from Newark International Airport.

Conveniently situated near Interstate 287, Route 17, and the New York State Thruway, the hotel gives guests quick and easy access to the surrounding areas, as well as many large corporations, shopping malls, outlet shopping, golf courses, ski resorts, and fine dining locations.

Visit the hotel on-line: www.sheraton.com/Mahwah.

The Sheraton Mahwah is operated by Interstate Hotels & Resorts, the nation’s largest independent hotel management company. For more information about Interstate Hotels & Resorts, visit the company’s Web-site: http://www.ihrco.com/.

Contact:

Will Adamo, Director of Sales & Marketing – Sheraton Mahwah Hotel, (201) 529-1114 / will.adamo@ihrco.com

Edwards Construction Completes 3 Jobs Valued at $7.6M

$1.8M CarQuest Distribution Center Expansion in Ocala, FL Completed

OCALA, FL – Ocala-based Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the new $1.8 million, 42,000-square-foot CarQuest Distribution Center expansion at 1700 SW 38th Avenue, Ocala, FL.

Designed by MacGregor Associates Architects, Atlanta, the project consisted of sitework, slab-on-grade, relocation of existing tilt-wall panels, erection of new tilt-wall panels, structural steel roof framing, single-ply roofing, interior lighting and heating, ventilation and air conditioning upgrades.

$3.8M Iron Mountain Facility in West Palm Beach Finished

WEST PALM BEACH, FL – Ocala-based Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the new $3.8 million, 61,100-square-foot Iron Mountain facility located at 3501 Electronics Way in West Palm Beach, FL.

Iron Mountain globally provides information management, records management and data protection services.

Edwards’ scope of work included erection of a new 50-foot-high, Pre-Engineered Metal Building and installation of metal wall and roof panels, a new fire sprinkler system and a multi-story racking system reaching 49 feet in height. The project was designed by Architectural Alliance, Fort Lauderdale.

$2M Paycheck Fulfillment Center in Orlando Completed

OCALA, FL – Ocala-based Edwards Construction Services, Inc.’s Manufacturing and Distribution division completed the Paychex, Inc. Florida Fulfillment Center’s $2 million, 19,400-square-foot design-build interior build-out in an existing mixed-use dock-high building at 6870 Shadowridge Drive, Orlando, FL. The project was designed by Horton, Harley and Carter, Inc., Tampa, FL.

Contact: Kenneth H. Cristol 407-774-2515

Hunter Hotels Appoints Lee Hunter Chief Operating Officer

ATLANTA, GA—Hunter Hotels, a leading national hotel investment services firm, has appoinedf Lee Hunter, (top right photo) CHB, ISHC, as chief operating officer of the company.

He will oversee day-to-day operations of the company, including development of research, marketing packages and broker opinions of value. In addition, he will remain an active broker with the firm.

“As we’ve grown, we have added significantly greater depth to our team and increasing sophistication to our analysis and marketing efforts,” said Bob Hunter, (middle left photo) CEO of Hunter Hotels.

“We have reached the size and national scope where we need to further enhance the management of the business of hotel brokerage. Lee brings a combination of hands-on hotel real estate experience with exceptional organizational and analytical skills that allows us to stay on the leading edge of the industry.

Having worked for ownership groups, he fully understands the needs and goals of those acquiring, developing and disposing of hotel assets.

Over his 14-years career, Lee has been actively involved in the acquisition, development and disposition of mid-market select service hotels operating under such franchises as Hilton Garden Inn, Courtyard by Marriott, Hampton Inn and Holiday Inn Express just to name a few.

“As we continue to execute our growth strategy, my experience on both the buy and sell side of the equation helps differentiate us firm from our competitors and allow us to provide better service to our clients,” said Lee Hunter, chief operating officer of Hunter Hotels.

Hunter earned a Bachelor of Science degree with a double major in Accounting and Business Administration from Presbyterian College and a Masters of Management in Hospitality (MMH) degree from Cornell University, with an emphasis on Hotel Finance and Real Estate. He is a Certified Hotel Broker as well as a member of the prestigious International Society of Hospitality Consultants.

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.

Contact: Patrick Daly, media, (703) 435-6293, patrick@dalygray.com

National Retail Properties, Inc. Declares Dividend for Its Series C Preferred Stock

ORLANDO, FL/PRNewswire-FirstCall/ -- The Board of Directors of National Retail Properties, Inc. ("Board") (NYSE: NNN), a real estate investment trust, has declared a quarterly dividend on its Series C Cumulative Redeemable Preferred Stock of 46.09375 cents per depositary share payable December 15, 2008 to shareholders of record on November 28, 2008.

The dividend represents an annualized rate of $1.84375 per depositary share.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.

As of September 30, 2008, the company owned 990 Investment Properties in 44 states with a gross leasable area of approximately 11 million square feet. For more information on the company, visit http://www.nnnreit.com/.

Contact: Kevin B. Habicht, (top right photo) Chief Financial Officer of National Retail Properties, Inc., +1-407-265-7348

Grubb & Ellis|Commercial Florida Promotes Two Top Executives to Senior Vice President

TAMPA, FL --- Grubb & EllisCommercial Florida has appointed Jan Boltres, (top right photo) CCIM, and Michael Scott (top left photo) to senior vice presidents in the firm’s Tampa division.

Jeff Sweeney, (bottom right photo) SIOR, principal and managing partner of Grubb & EllisCommercial Florida in Orlando, said Boltres joined the firm in 2001 and was most recently a vice president in the firm’s Industrial Services Group in Tampa.

Boltres attended Wittenberg University, Ohio State University and Miami University in Ohio, where he earned B.A. degrees in Finance, Management and Business. He has more than 16 years of experience in commercial real estate, Sweeney said.

Scott, who joined Grubb & EllisCommercial Florida in 2000, most recently held the title of vice president in the firm’s Industrial Services Group.

Scott earned B.S. Degrees in Business Administration and Economics from Druny College in Springfield, Mass. and has more than 13 years of experience in commercial real estate.

Contacts:

Jan Boltres, CCIM or Michael Scott; Grubb & EllisCommercial Florida; 813-639-1111

Jeff Sweeney, President; Grubb & EllisCommercial Florida; 407-481-5387

Larry Vershel Communications; 407-644-4142

New Faces and New Posts at Marcus & Millichap

GREGORY LABERGE NAMED REGIONAL MANAGER OF CHICAGO OFFICE

CHICAGO, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Gregory LaBerge (top right photo) regional manager of the firm’s Chicago office, according to Harvey E. Green, (top left photo) president and chief executive officer.

Most recently, LaBerge served as the sales manager of the firm’s Chicago office.

“Greg and his team of investment specialists have excelled in bringing investment capital from all over the United States to the Chicago market place, which is crucial during a transitional real estate cycle,” comments Green. “His management skills, combined with his knowledge of the local commercial real estate market, make him an ideal selection as the new regional manager of our Chicago office.”

LaBerge joined Marcus & Millichap in October 2005, specializing in multi-family investment transactions. He was a member of the firm’s National Multi Housing Group and was promoted to associate status in January 2007.In 2008, LaBerge was named sales manager of the Chicago office.

LaBerge earned a bachelor’s degree in economics from Northwestern University. He also received an MBA in finance and strategy from the Kelley School of Business at Indiana University.

T. REED HUDSON NEW ASSOCIATE VICE PRESIDENT INVESTMENTS IN FORT WORTH OFFICE

FORT WORTH, TX — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named T. Reed Hudson (middle left, under Harvey Green photo) to the position of associate vice president investments.

It represents excellence in client relationships, investment real estate expertise and sales volume, according to Drew Kile, (middle right photo) regional manager in the firm’s Fort Worth office.

Hudson joined Marcus & Millichap in 2004 and specializes in retail investment sales and serves as an associate director of the National Retail Group. During his career at Marcus & Millichap, Hudson has closed more than 50 transactions, which were valued at more than $150 million.

ARTHUR ZUCKERMAN JOINS MANHATTAN OFFICE AS ASSOCIATE VICE PRESIDENT INVESTMENTS

NEW YORK, N.Y.– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Arthur Zuckerman (middle right photo) as an associate vice president investments in the Manhattan office, according to Edward Jordan, (middle left photo, under Reed Hudson photo) regional manager of the Manhattan office.

“Arthur clearly understands that partnering with Marcus & Millichap creates potential for growing his business in a transitioning market,” explains Jordan. “He joins several other high-profile investment specialists from competing brokerage firms who have made the same decision to join Marcus & Millichap over the past few months.”

As an associate vice president investments, Zuckerman will arrange the sale of a variety of properties, including multi-family, hotels, loft buildings, land development and parking garages.

Zuckerman has a diverse mix of clients, including high net-worth individuals, institutions and pension funds.

He is a trustee of Congregation Rodeph Sholom, a member of the Real Estate Board of New York, president of Beach House Condominium Association and a former director of the Associated Hotel and Motels.

“Marcus & Millichap’s extensive national brokerage platform and its ability to access a nationwide pool of investment capital attracted me to the firm,” says Zuckerman. “In addition, Marcus & Millichap has developed an excellent reputation as a leading investment sales brokerage firm in New York City.

"As a result, the company has captured a significant market share and will continue to be competitive in the high-stakes New York City market.”

Prior to joining Marcus & Millichap, Zuckerman served as vice president at Helmsley Spear Inc., for more than 30 years. Before his real estate sales career, he managed 1,700 apartment and commercial property units for Harry Helmsley and Irving Schneider.

Zuckerman earned a bachelor’s degree from Upsala College.

JOSHUA CARUANA APPOINTED REGIONAL MANAGER OF INDIANAPOLIS OFFICE

INDIANAPOLIS, IN– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Joshua Caruana (middle left photo, under Edward Jordan photo) regional manager of the Indianapolis office, according to Harvey E. Green, president and chief executive officer.

“Joshua has been serving as the sales manager of the Indianapolis office since April 2008,” comments Green. “His experience with all sectors of the investment real estate market and his management skills make him the ideal candidate for the regional manager position.

" Under Josh’s leadership, the Indianapolis office will continue to provide superior transaction and advisory services to our private and institutional clients throughout Indiana and the Midwest.”

Caruana joined the firm under the sales intern program in Ontario in March 2001 and became an agent in June 2002. He was promoted to senior status in June 2005 and earned a Sales Achievement Award the same year. Caruana joined the management team in November 2007 where he first served as sales manager of the Long Beach office.

Caruana graduated with a bachelor’s degree in business and economics from Westmont College in Santa Barbara, Calif.

ALEX IMAN JOINS MARCUS & MILLICHAP CAPITAL CORP. AS ASSOCIATE DIRECTOR IN DALLAS OFFICE

DALLAS, TX– Marcus & Millichap Capital Corporation (MMMC) has named Alex Inman (bottom right photo) as an associate for the firm’s Dallas office, according to William E. Hughes, senior vice president and managing director of MMCC.

Inman is responsible for originating loans in the company’s Dallas office, where he specializes in structuring debt and equity across all major property types.

Prior to joining MMCC, Inman was a business development officer for Newfund Capital/Prosper Bank in Dallas. Prior to that, Inman served as a commercial loan officer for BMC Capital in Dallas.

At both firms, he focused on originating new business and maintaining client relations while specializing in arranging loans for ground-up construction, multi-family, office, industrial and retail properties nationwide. Inman began his career as an originator for Reliance Mortgage Co. in Dallas.

Inman is a graduate of the University of Texas at Austin and holds a bachelor’s degree. He also holds a state of Texas real estate license.

Press Contacts:

Stacey Corso, Marcus & Millichap Real Estate Investment Services, Communications Department, (925) 953-1716

Kathy Molitor, Marcus & Millichap Capital Corp., (925) 953-1704

Beach Street Courtyard Sets Soft Opening on Dec. 5 to Preview Luxury Condominiums, Retail Space in Downtown Daytona Beach

DAYTONA BEACH, FL. --- Beach Street Courtyard, (middle left photo) an exclusive luxury condominium community developed by Richard A. Friedman, (top right photo) managing director of Chadwick Real Estate Group, will host a soft opening Dec. 5 on the top floor at 128 S. Beach St. in downtown Daytona Beach to preview 12 luxury condominiums.

Friedman, former developer of Harbour Village Golf & Yacht Club in Ponce Inlet and director of development for The DiMucci Companies, recently formed Chadwick to develop Beach Street Courtyard.

The 46,000 square foot mixed-use condominium development is the first new building on Beach Street in the Daytona Beach Downtown Redevelopment District.

Re/Max All Pro Realty Associate Aswin Suri, (bottom right photo) exclusive sales and marketing representative at Beach Street Courtyard, said two and three-bedroom condominiums on the upper two floors at Beach Street Courtyard offer from 1,304 square feet of living space to 2,135 square feet and are priced from $399,000 to $599,000.

All 12 luxury residential units are ready for immediate move-in. Among the amenities are state-of-the-art fitness center, rooftop sundeck with cocktail gazebo and garage parking.

Suri said he is negotiating with upscale retail tenants for 10,000 square feet of space on the ground and mezzanine levels, including a Mediterranean-styled restaurant with inside and bistro courtyard seating.

Suri said Beach Street Courtyard’s soft opening on Dec. 5 is planned in conjunction with the Beach Street Festival in Daytona Beach. A luxury model condominium is set to open later in December, Suri said.

Suri’s Re/Max All Pro Realty team was ranked Number 1 in sales volume for both 2007 and 2008 by the Daytona Beach Area Board of Realtors

For more information, contact:
Aswin Suri, Re/Max All Pro, Exclusive Sales & Marketing Representative, 386-788-2600
Richard A. Friedman, Managing Director, Chadwick Real Estate Group, 970-875-0999

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Cuhaci & Peterson Architects Awarded Contract to Design 61,000-SF Winn-Dixie Supermarket in Bradenton, FL

ORLANDO, FL --- Cuhaci & Peterson Architects LLC, based in Orlando, has been awarded a contract to design a new Winn-Dixie Supermarket located at 53rd Ave. East and 9th St. East in Bradenton.


Lonnie Peterson, (top right photo) chairman of Cuhaci & Peterson Architects, said the 61,000 square foot project is already in the design stage.

For more information, contact:

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, 407-661-9100;


Jed Downs, President Cuhaci & Peterson Architects, 407-661-9100;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142