Terry's Electric Completes Job at Villas at Lake Eve Condo-Hotel in Orlando, FL

ORLANDO, FL – Terry’s Electric, Inc., one of Florida’s leading electrical contractors, completed a multimillion-dollar electrical contract at the new 14-story, 176-unit, 266,966-square-foot Villas at Lake Eve Condominium/Hotel (top right photo) located on International Drive, Orlando, FL. The Douglas Company, Orlando, serves as the general contractor according to Mark Neveu, Commercial Divisionpresident of Terry’s Electric.

Contact: Kenneth H. Cristol, 407-774-2515

Melrose-Sovereign Companies awarded contract to manage Harmony Community in Osceola County, FL

ORLANDO, FL -- Melrose-Sovereign Companies, a property management firm based in Orlando with more than 100 employees and offices in Jacksonville, Tampa, Bradenton, Fort Myers, Palm Harbor and Port Charlotte, has been awarded a contract to manage the Harmony community in Osceola County.

(Ashley Park pool, Harmony, FL, top right photo)

Ellen G. Lumpkin, co-founder and partner at Melrose-Sovereign Companies, said Harmony, located off U.S. 192 between St. Cloud and Melbourne, includes more than 7,000 residential units planned or under construction.

Jack B. Hanson, co-founder and partner at Melrose-Sovereign Companies, said the firm currently manages properties for more than 150 developers, investors and owners throughout Florida, including Taylor Morrison Homes, Ryland Homes, The Landmark Group, Emerson International and Benderson Development Corp.

For more information, contact:

Ellen G. Lumpkin, Partner/Co-founder, Melrose-Sovereign Companies 407-228-4181; elumpkin@melrose-sovereign.com;

Jack B. Hanson, Partner/Co-founder, Melrose-Sovereign, Companies 407-228-4181; jhanson@melrose-sovereigh.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142; Lvershelco@aol.com

Senior Housing and Healthcare Borrowers Need to Keep Funding Options Open, Expert Says

CHICAGO, IL--Many capital sources that have traditionally been there for industry borrowers get failing or near-failing grades in a new “report card” issued by one of the nation’s leading senior housing/healthcare lenders.

Speaking at a seminar jointly sponsored by Chicago-based Cambridge Realty Capital Companies and the Northbrook, Illinois-based accounting firm of Frost, Ruttenberg & Rothblatt, P.C., Cambridge Chairman Jeffrey A. Davis (top right photo) said FHA-insured HUD loans and loans from commercial banks remain the primary funding sources for long-term care and senior housing, to which his firm awards an “A” letter grade in the current credit crisis.

In the company’s scoring system, governmental conservators Fannie Mae and Freddie Mac have slipped a full letter grade to a B due to changes in underwriting, and taxable and tax-exempt bond funds earned the same letter grade as well.

Venture capitalists earned a C+ grade, but insurance companies, pension funds, investment banks and the equity markets earned near-failing marks (a D), and conduits (REIMICs) are off the grid entirely with a failing grade.

“Despite all the disheartening news on the economic front, funding is still available for qualified projects at rates that are very competitive by historical standards. Borrowers shouldn’t automatically assume that it’s impossible to improve their financial situation in the current climate,” he advised.

The jointly sponsored seminar was entitled The Changing Landscape … How Our New President and the Current Economic Slowdown Impact the Economics of Senior Housing and Long-Term Care in Illinois.

Presenters for the accounting firm were Ted Bokios, CPA, a senior manager in Accounting and Auditing; Steven N. Lavenda, CPA, (middle right photo) founding director of FR&R Healthcare Consulting; Betsy Anderson, (top left photo) an officer and director of FR&R Healthcare; and Gary H. Barron (bottom left photo) , director and founding member of the FR&R Tax Department.

Also on the program was Cambridge Realty Capital Ltd. of Illinois CEO Andy Erkes.

Davis believes the President’s stimulus package will have a long-term positive impact on the senior housing/healthcare industry. For the short-term, he outlined the issues owners will need to consider when pursuing capital in today’s tight credit market.

“Now more than ever, it’s important for borrowers to be ready with a thoughtful business plan, a thorough market feasibility study and a financial forecast that includes appropriate financials for the business.

"The plan should detail the qualifications of principals and fully describe how the funds will be used. An up-to-date title report should also be provided,” he said, adding:

“Preparation is the key to a successful presentation, and borrowers must be ready to provide requested information and documentation in a timely fashion. It’s important for borrowers to thoroughly understand their product. And it helps to know where the lender’s hot buttons reside.”

Erkes described the organizational and administrative changes that have revolutionized the way HUD processes healthcare loans for its Section 232 funding program. In making long overdue changes, HUD has consistently sought the advice and counsel of experienced FHA-MAP-approved lenders, and continues to work on timing and product delivery issues, he noted.

Responsibility for processing HUD 232 loans has shifted to FHA’s Office of Insured Health Care Facilities (OIHCF) in Washington, D.C. Loan applications are now being filed electronically, feature fewer exhibits and require conventional market-based appraisals instead of HUD-specific reports.

The goal is for HUD to be able to review an application, issue a commitment and get to closing within 40 days, Erkes said.

Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com

HFF named by First Centrum, LLC to secure joint venture equity for Daniel Island, SC Project

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has been named by First Centrum, LLC to secure a joint venture equity partner for the development of Verena at Daniel Island, (top right photo) a 110-unit, senior independent living apartment community on Daniel Island, an island town in Charleston, South Carolina.

HFF directors Dave Nachison (top left photo) and Alan Davis (middle right photo) are leading the effort to arrange the equity financing on behalf of the sponsor.

“First Centrum, LLC is confident in their ability to secure construction and mini-permanent financing for the project and is seeking a joint venture partner that will provide approximately $5.0 million in equity,” said Davis.

“The project generates a return on cost that clearly justifies and compensates for taking development risk even in this economic environment.”

Located in the center of Daniel Island’s urban village, Verena at Daniel Island residents are within walking distance of retail shops, restaurants and community amenities accessible via miles of dedicated pedestrian paths.

The one- and two-bedroom apartments will have “condo level” finishes and will range in size from 658 to 1,385 square feet.

Community amenities will include a community/dining room, coffee bistro, hair salon, exercise center, wellness and massage room, theater, art studio and game room. Each resident’s rent will also include daily breakfast and another served meal, all utilities except phone and cable, weekly maid service, a dedicated bus for transportation and access to a full time activities director.

First Centrum brings more than 30 years of multifamily and senior housing development experience to this project and applies a fully integrated approach with in-house architecture, general contracting, development and property management capabilities.

First Centrum's development efforts have included luxury rental, single family and multifamily for-sale communities restricted or targeted to residents 55 years of age and older.

Contacts:

David R. Nachison, HFF Director, (202) 533-2500, dnachison@hfflp.com

Alan M. Davis, HFF Director, (202) 533-2500, adavis@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500, krmurphy@hfflp.com

Interstate Hotels & Resorts Elects Chris Shackelton to Board

ARLINGTON, VA—Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent management company, announces that Chris Shackelton has been elected to its board of directors, bringing the total number of directors to nine.

Shackelton is a managing partner and co-founder of Coliseum Capital Management, LLC, currently Interstate’s largest shareholder with 3.7 million shares held, or approximately 12 percent of the company’s outstanding shares.

Coliseum is a private investment partnership that makes long-term investments in both public and private companies.

Prior to Coliseum, Shackelton was an analyst at Watershed Asset Management. Previously, he worked in the investment banking division of Morgan Stanley & Co.

“Chris’s impressive depth and breadth of experience encompasses a wide range of investment and financing activities, and he will be a valuable resource to our board,” said Thomas Hewitt, (top right photo) chief executive officer.

“As Coliseum is our largest shareholder, Chris already is thoroughly knowledgeable about our company and will be able to make an immediate contribution.”

CONTACTS:

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

Bruce Riggins, Chief Financial Officer, Interstate Hotels & Resorts, (703) 387-3344

CB Richard Ellis No. 1 in U.S. Investment Sales Activity in 2008

Leader in Office, Industrial, Multi-Family and Retail Transactions

LOS ANGELES, CA – CB Richard Ellis Group, Inc (CBRE) was the No. 1 firm in U.S. investment sales activity on a national basis in 2008, with a 17.9% market share—according to Real Capital Analytics' 2008 data.

RCA, which tracks national commercial real estate sales of $5 million and greater, found that CBRE, with $25.3* billion in transaction values, had a commanding 10.3 percentage point advantage over the second place firm and sold more property than the number two and three firms combined.

CB Richard Ellis was the leader in office, retail, industrial and multi-family properties. RCA estimates that over $141 billion** of office, industrial, retail, multi-family and hotel properties were sold in the U.S. in 2008.

"During challenging times clients seek out the platform and the professionals that delivers superior market insight and unrivaled transaction execution," said Gregory S. Vorwaller, (top right photo) CBRE Investment Properties President. "2008's results underscore that CBRE is the trusted advisor of choice across all categories of commercial real estate investing."

Other significant findings include:

CBRE was the nation's top firm in office sales in 2008 with a market share of 21.9% representing $11.5 billion of transactions.

CB Richard Ellis' market share in multi-housing sales was an industry leading 18.3% in 2008. The firm's $6.8 billion in sales was double that of it nearest competitor.

In industrial sales, CBRE dominated with $ 4.5 billion in sales, for a market share of 21.4%/--three times the nearest competitor.

CB Richard Ellis recorded the highest market share—9.7%—in the retail sector, totaling $1.9 billion in transactions in 2008.

* Does not include CBRE's individual property sales valued at less than $5 million.** Excludes privatization activity.

Contact: Robert McGrath, 212.984.8267, robert.mcgrath@cbre.com

The Georgian Terrace Hotel Names Carl Dees General Manager

ATLANTA, GA—Officials of The Georgian Terrace Hotel, (top right photo) Atlanta’s iconic hotel, today announced the promotion of Carl Dees to general manager.

In his new role, Dees will be primarily responsible for overseeing the completion of the property’s current $11 million renovation, as well as the day-to-day operations of the hotel.

The luxury, all-suite hotel is owned by a real estate fund managed by San Francisco-based Fremont Realty Capital, with management provided by Virginia-based Crescent Hotels & Resorts.

“Carl Dees is a well respected, hotel professional with more than 25 years of hospitality experience,” said Matthew Reidy, (middle left photo) senior managing director of Fremont Realty Capital.

“He brings with him a successful track record of directing properties under such brands as Hilton and Marriott, while improving upon their bottom lines. His proven leadership skills, high energy and creative approach to hospitality will help drive the renovation project and long term success of The Georgian Terrace.”

Before joining The Georgian Terrace Hotel, Dees was general manager of the 224-room Livonia Marriott in Mich., where he oversaw a $4.9 million renovation.

Prior to that, he was general manager of the Detroit Airport Marriott in Romulus, Mich., which generated $10 million in annual revenue under his supervision. He studied Business Administration at Mississippi State University, Meridian campus.

Built in 1911, The Georgian Terrace Hotel, located at 659 Peachtree Street NE in midtown Atlanta and listed on the National Register of Historic Places, has played host to some of Atlanta’s most preeminent events, including the star-studded party for the 1939 premiere of the classic, Oscar-winning film, “Gone with the Wind.”

For more information, please contact the hotel at (404) 897-1991, or online at the hotel’s Web site: http://www.thegeorgianterrace.com/.

Additional information about Crescent Hotel & Resorts may be found on the company’s Web site http://www.chrco.com/.

Contact: Chris Daly, Vice President, Daly Gray Public Relations, ph: 703-435-6293, chris@dalygray.com

C&W negotiates lease for new Firehouse Subs in Leesburg, FL

ORLANDO, FL –Cushman & Wakefield of Florida, Inc. (C&W) announced the lease of 2,400 sf at 717 North 14th Street in Leesburg for a new Firehouse Subs Restaurant.

Headquartered in Jacksonville FL, Firehouse Subs has 349 locations in 17 states nationwide. This seven-year lease represents the 59th Firehouse Subs location in Florida.

Retail Brokerage Associate Mindy Boehm (top right photo) negotiated the lease, representing the landlord, Walling Enterprises, in the transaction for the property.

Contact: Brook Hines, Tel: 407-541-4401, brook.hines@cushwake.com
www.cushwake.com

Leading Hotel Management Company Changes Name to Marshall Hotels & Resorts, Inc.

SALISBURY, MD– A major mid-sized hotel management company has taken a new name to reflect its growth over the past five years and a broader range of services.

Maryland-based Marshall Management is now Marshall Hotels & Resorts, Inc. In addition, the company announced that it has moved to new, larger headquarters in Salisbury, Maryland.

“We have essentially doubled in size over the past five years and now operate 48 hotels, with a total asset value in excess of $750 million,” said Michael Marshall, (top left photo) president and CEO of Marshall Hotels & Resorts.

“Our range of hotels now extends from limited-service to four-star branded and independent hotels and resorts.

"We also have an active development and renovation division, as well as provide a variety of back-of-the-house services, including asset management; accounting; sales, marketing and advertising, insurance programs, consulting; and a host of other services.

"While a somewhat subtle name change, it better communicates who we are and our role as a major, full-service hotel management and services organization.”

“We founded the company based on the idea of providing true hands-on service by a highly experienced senior management team,” said Chuck Marshall, (top right photo) chairman of Marshall Hotels & Resorts.

“That founding principle hasn’t changed in our 29-year-history. We’ve become more sophisticated and added depth, but our core values remain the same.

"Our strategy for success also remains the same: providing experienced property-level operators backed by strong strategic direction and support from a seasoned senior management team, who are involved on an on-going basis.”

The company’s new headquarters facilities encompass 9, 000 square feet, nearly 30 percent more than the company’s previous headquarters. “We literally were bursting at the seams, and now we have room for additional expansion,” Marshall said.

The new address for Marshall Hotels & Resorts is:

1315 South Division Street
Salisbury, Maryland 21804
Phone: (410) 749-8464
http://www.marshallhotels.com/

Contacts:

Rick Day, Senior Vice President – Sales and Marketing, Marshall Hotels & Resorts, (410)749-8464, rday@marshallhotels.com

Jerry Daly, media, Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

Starwood's Eva Ziegler assumes top role for W Hotels

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) has announced the appointment of Eva Ziegler (top right photo) as Global Brand Leader for W Hotels Worldwide.

In her new role, Vienna-born Ziegler will be responsible for leading the global development and growth strategy for the innovative and category-busting W Hotels Worldwide.

With 10 years of proven success, largely in North America, W Hotels will triple its footprint by 2011, assuming its role on the global stage with properties scheduled to open in primary, vibrant international markets from Paris to Milan, Barcelona to London, Santiago to Vieques Island, Dubai to Doha, Hollywood to South Beach, and Shanghai to Bali.

In addition to overseeing the global launch of W Hotels, Ziegler will continue in her role leading Le Méridien as the brand continues its re-launch globally. As Global Brand Leader for the two contemporary design-led brands, Ziegler will define the vision and brand strategy across all disciplines.

Marcus & Millichap Names Scott Lamontagne Regional Manager of Encino, CA Office

ENCINO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Scott Lamontagne (top right photo) regional manager of the firm’s Encino office and Western Director of the firm’s Special Assets Services (SAS) division, according to Harvey E. Green, (top left photo) president and chief executive officer.

“Scott continues to excel as a manager and real estate investment market expert,” explains Green. “In only seven years, he has risen from the post of associate in the Dallas office to regional manager of the firm’s Encino office, where our corporate headquarters is based,” adds Green.

“Because of his investment expertise, ability to execute transactions and excellent relationships with investor and lender clients, Scott will thrive as the firm’s Western Director of the SAS division,” says Bernard J. Haddigan, (bottom right photo) a senior vice president and managing director, who also serves as the National Director of the firm’s Special Assets Services division.

Lamontagne served as the regional manager of Marcus & Millichap’s Los Angeles office since November 2007.

He joined the firm in August 2003 as an investment specialist in the Dallas office and became sales manager of that office in June 2007.

In 2006, Lamontagne was named a director of the National Multi Housing Group, achieved senior associate status and became a member of the firm’s Seven Figure Club. He has also won a number of prestigious internal sales awards from the firm.

Lamontagne is a graduate of the University of Kansas where he received a bachelor’s degree in business communications. Previous to joining the firm, he was the owner of a retail franchise in Tampa, Fla., a business-to-business call center in St. Louis and a small investment company in Dallas.

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

Jin Lee Joins Thayer Lodging Group as Managing Director and Chief Investment Officer

ANNAPOLIS, MD—Thayer Lodging Group announces that Jin Lee (top right photo) has joined the company as a managing director and will serve as its chief investment officer.

In his new role, he will be responsible for sourcing, due diligence, negotiating and structuring transactions.

“Jin brings extensive hotel investment expertise, with 19 years in the industry, in acquisitions, financing, development and dispositions, having been involved in more than $2 billion of transactions in his career,” said Leland Pillsbury, (top left photo) Thayer Lodging’s CEO and co-chairman.

“He will play a major role in our growth as we seek ways to take advantage of the current economic climate. We have considerable equity available, and believe we will be one of only a small group of serious investors in 2009.”

“We believe the opportunity for hotel acquisitions will increase substantially over the next 12 to 18 months, and we intend to be a major investor,” added Bruce Wiles, (middle right photo) Thayer’s chief operating officer.

“Our focus remains on finding complex projects where we believe we can add substantial value through repositioning, rebranding and possibly changing management."

Prior to joining Thayer Lodging Group, Lee was senior vice president of acquisitions and development at HEI Hotels & Resorts, where he was involved in $1.5 billion of transactions, personally closing on $500 million in acquisitions.

Previously, he served as vice president of acquisitions and development at Kimpton Hotel & Restaurant Group. Before that, he served as director of development planning and feasibility at Marriott International and vice president at HVS International.

Lee is a graduate of Cornell University’s School of Hotel Administration and has an MBA from the University of California, Irvine. He is a member of the Urban Land Institute and the Cornell Hotel Society.

Lee will fill the role formerly held by Bill Reynolds (bottom left photo) who remains an advisory director and will maintain an advisory role with the company. “Bill has taken on development responsibilities for his alma mater, Trinity College. He added value to our portfolio during his tenure and we applaud him for his commitment to Trinity,” Pillsbury noted.

About Thayer Lodging Group

Annapolis, Maryland-based Thayer Lodging Group is a privately held, real estate venture capital operating company with a portfolio of 14 hotels consisting of more than 2,800 guest rooms.

Formed in 1991, the firm has sponsored five hotel investment funds for investors and has a portfolio of hotels operating under the Marriott, Hilton, Wyndham and Six Continents brands.

Additional information about the company may be found at http://www.thayerlodging.com/.

Contact: Chris Daly or Jerry Daly 703 435-6293, chris@dalygray.com, jerry@dalygray.com

Chugach Alaska Corp. Leases 17,861 SF at 816 Greenbrier Circle, Chesapeake, VA

NORFOLK, VA– GVA Advantis announces the lease of 814 Greenbrier Circle, (top right photo) Suites L & M to Chugach Alaska Corporation.

The lease consisted of a total of 17,861 square feet in Suites L & M. Suite L was an 11,877 SF sublease from RSIS, Inc. and Suite M was a 5,984 SF direct lease with First Potomac.

Stephanie Sanker, senior director with GVA Advantis, represented the tenant and CBRE represented the sublandlord and landlord.

Chugach Alaska Corporation is an Alaska Native corporation whose corporate offices are located in Anchorage, AK that currently targets the following areas of business interests - base operating services, educational services, construction services, environmental services, information technology, telecommunications, and full-service employment services.

“It was a pleasure having Stephanie Sanker as our representative as we were looking for a larger place. Her expertise kept us well informed throughout the project. Here recommendations were on the money and made the entire process easy.” said Ken Grimes, Program Manager.

Contact: Susan Childress, 757.213.8217, schildress@gvaadvantis.com

Arbor Closes 3 Fannie Mae Loans Totaling $8.92M

Hinkston Pond Apartments in Waukegan, IL Receives $4.87M

UNIONDALE, NY (Feb. 13, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,871,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 120-unit complex known as Hinkston Pond Apartments in Waukegan, IL.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29 percent.

The loan was originated by Peter Margolin, (top right photo) Director, in Arbor’s full-service Deerfield, IL lending office. “The borrowers were pressed for time on this purchase transaction and Arbor was able satisfy their needs and close the loan in less than 60 days,” said Margolin.

Quail Hollow Village in Terryville, CT Obtains $2.66M

UNIONDALE , NY (Feb. 13, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,660,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 66-unit complex known as Quail Hollow Village in Terryville, CT.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.42 percent.

The loan was originated by John Edwards, (middle left photo) Vice President, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to provide financing for this local owner and operator,” said Edwards.

Wooded Acres Apartments in Lufkin, TX Gets $1.38M

UNIONDALE, NY (Feb. 13, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,380,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 60-unit complex known as Wooded Acres Apartments in Lufkin, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.46 percent.

The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor had the opportunity to provide financing on this high-quality property with a very experienced Borrower,” said Porterfield. “Arbor is one of only a handful of DUS® lenders actively funding affordable housing properties within our Small Loans program.”

Contact: KMaxey@arbor.com

PCL Construction Lands Nearly Quarter Billion in Florida Contracts

Company also Ranked No. 28 in Fortune Magazine’s Top 100 Best Companies to Work For

ORLANDO, FL-- The Southeast division of PCL Construction Services, Inc. (the eighth largest construction organization in the United States), has announced that in the third and fourth quarters of 2008 it landed $275-million in construction contracts.

Construction industry veteran Bob Hopfenberg (top right photo), who joined PCL in 2008 as Director of Business Development, attributes this success in a down economy to the diversity of the business they go after.

“PCL follows the pulse of the market and pays particular attention to growth industries. This focus has allowed the firm to weather the storm that has affected so many and actually thrive in a down economy.”

Florida contracts landed in 2008 include:
Florida Hospital –Adventist - Kissimmee Medical Office Building for Lillibridge

Orlando International Airport, Quick Turn Around Rental Car Facility

Marriott Vacation Club International, Reserve at Grande Lakes (middle right photo)

Universal Studios Project StrongArm and Project Rumble, two attractions
Amelia Island Ritz Carlton Ballroom

West Palm Beach Air Traffic Control Tower

New Combined Residential and Commercial Materials Recycling Facility for Solid Waste Authority of Palm Beach

Nine projects totaling $15M secured by its Special Projects Group, which focuses on smaller renovations/additions and accelerated projects for clients such as Marriott, Dr. P. Phillips and a major Central Florida theme park.

In addition to the above Central Florida projects, two contracts were also landed in Silver Grove, KY and Buchanan, NY:

LaFarge, Joint Compound Plant (KY)
LaFarge, FGD Conversion (NY)

“As you can see by the types of projects we landed, there is a tremendous amount of diversity and flexibility at PCL,” said Bob. PCL’s “9 Zeroes Factor” affords the company the flexibility to compete for projects as small as $1,000 through its Special Projects Group, but also the ability to build projects as large as $1 billion.

While flexibility and diversity are important, the bottom line according to Hopfenberg is relationships.

“We competitively bid, of course, but more often than not, PCL wins because of our client relationships, references and reputation.”

It boils down to having the best people, which PCL management attributes to the company’s employee ownership structure allowing them to recruit the top candidates for the job.

In fact, in 2008, Fortune Magazine again ranked PCL on their list of the Top 100 Best Companies to Work coming in at number 28.

“What is truly remarkable,” said Deron Brown, (top left photo) Vice President and District Manager, “is the fact that PCL is the only pure construction firm on the entire list.”

While many in the building industry are bracing for a tough 2009, both Hopfenberg and Brown see bright spots on the horizon. “While we predict the first half of 2009 will be slow, we see a marked improvement in the third quarter of 2009.

About PCL:

The PCL family of companies is a group of independent construction companies working out of major offices in 28 locations across Canada, United States and the Bahamas.

These companies form the largest general contracting organization in Canada and the eighth largest in the United States, with an annual construction volume of more than $5 billion. PCL constructs in three main sectors: buildings, infrastructure and heavy industrial.

The Orlando office is located at: 6675 Westwood Boulevard, Suite 200, Orlando, FL, 32821. Phone 407.363.0059. On the web at: http://www.pcl.com/.

For More Information: Kimbra Hennessy, 407.290.1060, ext. 102, Kimbra@ bitner.com