Wyndham Brand Adds Experienced Sales and Operations Leaders

PARSIPPANY, NJ – In a focused strategy to expand the global reach of the Wyndham brand and exceed customer satisfaction goals, Wyndham Hotels and Resorts® announced the expansion of its sales and operations teams with the addition of industry veterans Bill Scanlon, (top left photo) senior vice president of sales; Tim Rector,(middle right photo) vice president of resort sales; Wayne Susser, (middle left photo) vice president of brand operations; John Green, (bottom right photo) regional vice president of operations; and Kevin Regan, (bottom left photo) regional vice president of operations.

Bill Scanlon previously held executive-level sales and marketing positions with Marriott International and HEI Hotels and Resorts.

Most recently he was president of Strategic Solution Partners, a lodging and hospitality consulting firm in Drexel Hill, Pa., responsible for the development and implementation of the company’s overall business strategies.

In his new role as senior vice president of sales for Wyndham Hotels and Resorts, Scanlon will be responsible for defining and implementing the Wyndham brand’s sales culture, executing programs that provide valuable customer insights, increased customer value and revenue-generating opportunities.

Tim Rector previously held executive-level sales and marketing positions with Starwood and LXR Luxury Resorts and the former Wyndham International.

Most recently, he was area vice president of sales and marketing for Starwood in White Plains, N.Y. Based in Florida, he oversaw sales and marketing operations for the company’s managed resorts in the Caribbean.

In his new role as vice president of resort sales, Rector will be responsible for the overall leadership of the Wyndham resort collection, overseeing all sales and marketing functions including advertising, promotions, distribution sales and direct sales.

In addition, he will play a pivotal role in the recruitment, development and management of each hotel’s sales and catering teams.

Wayne Susser previously served in executive-level operations roles with Hilton Hotels Corporation and Marriott. Most recently, he was senior director of international brand support for Hilton’s Doubletree brand in Beverly Hills, Calif., responsible for managing international relationships with potential ownership groups and management companies.

As vice president of operations, Susser will oversee the Wyndham brand’s license partner operations team and will be responsible for streamlining business processes across all hotels.

In addition, he will work closely with independent, third-party research firms including J.D. Powers and Associates to hone quality measures and increase brand performance.

In their new roles as regional vice president of operations, Green and Regan will be responsible for overseeing the day-to-day operations of the Wyndham brand’s managed portfolio of hotels, which includes the 600-room Wyndham Rio Mar Beach Resort and Spa in Puerto Rico and the 224-room Wyndham Garden Hotel – Midtown Convention Center in New York.

John Green previously served in executive-level operations roles with Wyndham International, Signature Hospitality Resources and John Q. Hammons Hotels.

Most recently, he was senior vice president and managing director, operations east, for Pyramid Hotel Group in Boston, responsible for a portfolio of 19 hotels from 92 to 1,102 rooms.

Kevin Regan previously served in executive-level operations roles at Starwood and Stormont-Trice Corporation. Most recently, he was Starwood’s senior vice president of operations, Southeastern United States and Caribbean, responsible for overseeing the country’s second-largest region of hotels worth more than $1.2 billion in annual revenue.

“This is a group of highly talented and experienced professionals who know the ins and outs of the hospitality industry,” said Jeff Wagoner, (top right photo) president of Wyndham Hotels and Resorts.

“As we look to expand our managed portfolio of hotels, the addition of their knowledge and expertise in the key areas of sales, operations and brand contribution is designed to help Wyndham owners and operators drive revenue through a hands-on strategic approach.”

Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN), offers upscale hotel and resort accommodations throughout the United States, Europe, Canada, Mexico and the Caribbean. All hotels are either franchised or managed by Wyndham Hotels and Resorts or an affiliate.

CONTACT:

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

Grubb & Ellis Files 8-K Announcing Restatement of Financial Statements

Company Also Files for Extension to File 10-K for 2008 Fiscal Year

SANTA ANA, CA, Mar. 18, 2009 – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it had filed a Current Report on Form 8-K disclosing that certain previously issued financial statements will be restated to correct accounting errors related to the timing of revenue recognition relating to certain tenant-in-common investment programs sponsored by NNN Realty Advisors prior to the company’s merger with NNN Realty Advisors in December 2007.

Specifically, the company’s previously issued financial statements for the years ended December 31, 2006 and 2007, the interim financial statements for the quarters ended March 31, June 30 and September 30, 2008 and selected financial data derived from the company’s previously issued financial statements for the fiscal year ended December 31, 2005 will be restated.

As a result of the recognition by NNN of the applicable fee revenue in the wrong accounting period, the company currently anticipates reducing retained earnings as of January 1, 2006 by approximately $5 million; increasing revenue in 2006 by approximately $2 million; and increasing revenue in 2007 by approximately $500,000.

The company is currently evaluating the impact on its quarterly and annual financial results for 2008.

The review of NNN’s accounting treatment was prompted by the Audit Committee being made aware in mid-December 2008 of the existence of a letter agreement, wherein NNN agreed to provide certain investors with a right to exchange their investment in certain tenant-in-common programs.

As a consequence, the Board of Directors formed a Special Committee, which retained independent outside counsel, to investigate the facts and circumstances surrounding the letter agreement and to determine whether there were any other similar agreements.

In the course of the special investigation, the Audit Committee and management became aware of additional letter agreements, some providing for a similar right of exchange and others in which NNN committed to provide certain investors in certain tenant-in-common programs a specified rate of return.

Upon review of the accounting treatment for these letter agreements, management concluded that NNN had not accounted for some of the letter agreements and that NNN had incorrectly recognized revenue as it related to other of these letter agreements.

Management also concluded that, as a result of the incorrect accounting treatment, the results of operations of certain entities to which these letter agreements referred should have been consolidated into the company’s financial statements.

As a consequence of the restatement, the company filed a Notification of Late Filing on Form 12b-25 with the Securities and Exchange Commission on March 17, 2009 relating to the company’s Annual Report on Form 10-K for the year ended December 31, 2008.

The company intends to file its 2008 Form 10-K on or before March 31, 2009 and effect the restatement of its financial statements in the 2008 Form 10-K.

In the Form 12b-25, the company also indicated that due to the disruptions in the credit markets, the severe and extended general economic recession, and the significant decline in the commercial real estate market in 2008, the company anticipates that it will report a significant decline in operating earnings and net income for the fourth calendar quarter of 2008 as compared to the fourth quarter of 2007 and for fiscal 2008 as compared to fiscal 2007.

In addition, the company anticipates that it will recognize significant impairment charges to goodwill, impairments on the value of real estate assets held as investments and additional charges related to the company’s activities as a sponsor of investment programs in the quarter ended December 31, 2008.

The company’s findings remain subject to further review by the company, an audit of the company’s 2008 and restated 2007 financial statements by Ernst & Young, the company’s independent registered public accounting firm, and an audit of the company’s restated 2006 financial statements by Deloitte & Touche LLP, the independent registered public accounting firm for NNN.

The completion of this process could result in further adjustments of the respective financial statements and may be different from what is set forth above.

There can be no assurance that the amount of any further adjustments will not be material, either individually or in the aggregate. As a result of this review, the company also is assessing the effectiveness of its internal controls over financial reporting.

Contact: Janice McDill, 312.698.6707, janice.mcdill@grubb-ellis.com

The Liquidation Store Dilemma

CHICAGO, IL-Joan Woods, (top right photo) Regional Director, Specialty Leasing, MadisonMarquette, says BusinessWeek recently tackled the complex world of merchandise liquidation and suggested that liquidators are overwhelmed with the amount of product moving through the system.

One byproduct of this swelled pipeline is that some liquidators are in talks to bring merchandise back to the “scene of the crime” and create specialty liquidation events in vacant space at malls and other traditional retail destinations.

Liquidators like Liquid Event Sales and AMS Liquidators (Disney Character Warehouse Liquidators) are in talks to lease space recently vacated by big boxes in order to sell off excess inventory from their ever growing list of clients.

From a center owner’s perspective, these opportunities can generate substantial cash flow while the leasing process runs its course. However, it is important to consider several factors before proceeding:

-Will liquidation stores be selling merchandise that existing retailers are selling at full price? If so, restrictions need to be put on what types of merchandise can be sold.

-Does a liquidation concept harm the upscale look and feel of the center? If so, partner with a liquidator who understands how to design a temporary store that doesn’t look temporary. Despite the stereotype, there are some very sophisticated new concepts out there.

-Hosting liquidation stores should never come at the expense of traditional leasing efforts.

Liquidation services are at an all-time high because of the dismal holiday season. Retailers have responded by scaling back their inventory and no one should expect these temporary tenants to transition to long-term leases or be a viable part of a merchandising mix moving forward.

Contact: Kurt Ivey, kurt.ivey@madisonmarquette.com

Marcus & Millichap Arranges Sale of Net-Lease POrtfolio for $6.7M

CHICAGO, IL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has negotiated the sale of three net-leased assets totaling $6.76 million.

The buyer is a Michigan-based private 1031 investor.

The properties are:

· $3.4 million Hertz Equipment Rental location in Miami.
· $1.97 million AutoZone, Inc. in Baytown, Texas
· $1.39 million Colonial Bank in Roebuck, Ala.

Andrew Gallas, a senior associate in the firm’s Chicago Downtown office, represented the buyer on all transactions. He also represented both the buyer and seller on the AutoZone transaction.

Lori Schneider, (top left photo) senior vice president investments in Marcus & Millichap’s Fort Lauderdale office, and John Glass, senior vice president investments in the firm’s San Francisco office, and Marcus & Millichap’s Florida, Alabama and Texas offices, also assisted in this transaction.

“Despite the current economic downturn, stable commercial properties across the country continue to attract investors,” says Gallas. “My client sought stable investments in fundamentally strong markets.

"The portfolio’s properties are attractive assets given the duration of the leases, the strength of the guarantors and the availability of assumable financing.”

The Hertz Equipment Rental facility is a 14,958-square foot, 3.84-acre property located near the Florida Turnpike at 19380 SW 106th Ave. in Miami.

Built in 2008 and leased on a 20-year basis, the property sold for $3,407,600, which represents $228 per square foot and a cap rate of 7.91 percent.

The corporate-backed lease features 5 percent rent increases in five-year increments and four renewal options.

The 7,360-square foot facility leased to AutoZone Inc. was built in 2007 and is situated on 1.39 acres at 5222 Garth Road in Baytown, Texas. The property sold for $1,977,000, which represents $269 per square foot and a cap rate of 7.41 percent.

AutoZone, often viewed as a recession-resistant tenant, has leased the property through 2027.

Colonial Bank, located at 629 Red Lane Road in Roebuck, Ala., is a 3,700-square foot, one-acre property leased to the bank on an absolute triple-net basis through 2019.

The property sold for $1,394,000, which represents $377 per square foot and a cap rate of 7.4 percent. The lease is guaranteed by investment-grade Colonial Bank NA, a wholly owned subsidiary of The Colonial BancGroup Inc., a $26 billion bank holding company.

Press contact: Stacey Corso, Communications Dept., (925) 953-1716.

Marcus & Millichap Sells $6.5M Student Housing Complex in Resburg, ID for $6.5M

REXBURG, ID – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Nauvoo House Apartments, (top right photo) a 382-bed, 64-unit student housing community in Rexburg.

The sales price of $6.5 million represents $101,563 per unit and $85 per square foot.

Student housing investment specialists Danny Shin, Michael Beckstead and Mathew Bird in the firm’s Salt Lake City office represented the seller, Nauvoo LLC. Local representation was provided by the Boise office of Marcus & Millichap.

“Student housing approved by Brigham Young University (BYU) is especially attractive to investors,” says Shin. “Student residents are required to live by the BYU Honor Code, which prohibits students from smoking or drinking alcohol in the apartment units. Students must also obey a curfew which is enforced by an onsite manager.”

Located at 175 West Fifth South St., the 76,800-square foot property is minutes away from the BYU-Idaho campus.

Nauvoo House Apartments is a Class A student housing community comprised of 64 three-bedroom/two-bathroom units with a total 382 rentable beds plus two onsite manager’s units and land for 33 additional units.

BYU-Idaho has a year-round enrollment of 13,000 full-time students.

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

Randall-Paulson Architects awarded contract to design renovations and expansion at Fellowship Christian School in Roswell, GA

ROSWELL, GA — Randall-Paulson Architects, the award winning Roswell-based planning, design and architectural firm, recently completed design of renovations and a 23,000 square foot addition to the Fellowship Christian School in Roswell.

Alex S. Paulson, Co-founder and Principal at Randall-Paulson Architects, said the project includes an additional school entrance off Woodstock Road, expansion of the elementary school and new buildings for the high school’s auditorium and physical education programs. Just recently the athletic fields and landscaping were completed.

Paulson said his firm completed design by the first of the year and construction of the new facilities at Fellowship Christian School recently got underway.

The school purchased multiple properties adjacent to the existing 46,000 square foot education building to create the expanded campus.

“It was challenging to work out the functional layout of the new additions and determine the best design possible to create a newer, more visible image for the school and an influence for future expansion,” Paulson said.

Randall-Paulson Architects also designed the new gymnasium and classroom building for the Cottage School in Roswell which was completed and opened in late December,” Paulson said.

For more information, contact:

Alex S. Paulson, Co-founder/Principal Randall-Paulson Architects 770-650-7558 x116; apaulson@randallpaulson.com;
Larry Vershel, Larry Vershel Communications 407-644-4142; lvershelco@aol.com

About Randall-Paulson Architects

Headquartered in Roswell, Ga., Randall-Paulson Architects is a 15-year old commercial architectural design firm that specializes in the design of industrial, office, retail, mixed-use, education, religious, childcare, hospitality facilities and sustainable design.

Hansel Bradley Joins Grubb & Ellis as Vice President, National Data Center Practice

CHICAGO – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Hansel Bradley, (top right photo) formerly a senior project manager at Digital Realty Trust, has joined the company as vice president, National Data Center Practice, effective immediately.

Bradley, who has over 20 years of experience in commercial real estate and mechanical/electrical engineering, joins Jim Kerrigan, senior vice president and director of the National Data Center Practice, in growing the company’s recently formed data center business line.

He will also draw upon his extensive technical design and construction experience to contribute to the company’s project management and property management groups.

“Our ability to grow the National Data Center Practice is dependent upon recruiting professionals with specialized, technology-centric real estate experience,” said Kerrigan.

“Having spent the last 10 years building data centers after a career in electrical and mechanical engineering, Hansel brings ideal qualifications to our team. Bringing him on board enhances Grubb & Ellis’ capacity to handle projects with even the most technologically advanced real estate requirements.”

Bradley was a member of the team that won the Redevelopment Project of the Year award from the Greater Chicago Food Depository’s Chicago Commercial Real Estate Awards in 2000 for their work to redevelop Lakeside Technology Center.

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

HFF secures $13.97M financing for grocery-anchored retail center in Dallas, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $13.97 million in financing for Preston Trail Village, (top right photo) a 179,959-square-foot, grocery-anchored retail center in Dallas, Texas.

Working exclusively on behalf of Inland Western REIT, HFF managing director Kevin MacKenzie (middle left photo) and senior managing director Trey Morsbach (middle right photo) placed the three-year, fixed-rate loan with American Bank of Texas.

Proceeds were used to refinance the property.

Preston Trail Village is located at 17194 Preston Road close to President George Bush Turnpike and the Dallas North Tollway in the Carrollton area of Dallas.

Originally completed in 1983, the property underwent a renovation in 2006 and is 90.3% occupied by tenants including anchor tenant Kroger, Bank of America, Dunkin Donuts and Hallmark Showcase.

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust focused on the acquisition, development and management of retail properties, including lifestyle, power, community and neighborhood centers, in addition to single-user net lease properties in locations demonstrating solid demographics.

As of September 30, 2008, the portfolio consisted of 334 properties nationally, which the company owned or had interests in, totaling in excess of 51 million square feet. For further information, please see the company website at http://www.inlandwestern.com/.

CONTACTS:

Kevin C. MacKenzie, HFF Managing Director, (214) 265-0880, kmackenzie@hfflp.com

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

Arbor Closes 2 Fannie Mae DUS® Small Loans Totaling $8M in Spokane, WA and Mattapan, MA

Tennis Road Apartments in Mattapan, MA Receives $7,225,000

UNIONDALE, NY, Mar. 18, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $7,225,000 loan under the Fannie Mae DUS® Loan product line for the 55-unit complex known as Tennis Road Apartments in Mattapan, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.12 percent.

The loan was originated by John Kelly, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.

“This transaction represented Arbor’s flexibility in handling a project that has a mix of market rate and affordable units” said Kelly. “Our ability to continue to fund non-recourse loans at 80% loan-to-value demonstrates the resilience of the capital markets as it relates to financing for multifamily projects.”

Beverly Plaza Apartments in Spokane, WA Obtains $935,000


In Spokane, WA, Arbor Commercial Funding announced the recent funding of a $935,000 loan under the Fannie Mae DUS® Small Loan product line to refinance the 30-unit complex known as Beverly Plaza Apartments in Spokane, WA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.10 percent.

The loan was originated by Jon Red, (bottom left photo) Director, in Arbor’s full-service Spokane, WA lending office.

“The borrower needed to refinance his existing mortgage, which had matured,” said Red. “Arbor came in and quickly closed the deal in 50 days, much to the pleasure of the borrower."

Contact: Ingrid Principe, Iprincipe@arbor.com.

Roberts & Durkee Files Florida Class-Action Suit against Engle Homes Alleging Toxic Chinese Drywall Damaging People’s Health, Homes, Belongings

Attorneys, Plaintiffs, Consumer Watchdog Group Provide News Conference, Town Hall Meeting

CAPE CORAL, Fla.--(BUSINESS WIRE)--Attorney C. David Durkee, (middle left photo) partner with the Florida law firm Roberts & Durkee, today announced the filing of a Florida class-action lawsuit against Engle Homes (Nasdaq:ENGL), alleging the national homebuilder used contaminated drywall imported from China to build homes in the Coral Lakes development in Cape Coral, Fla.

The suit alleges the drywall is damaging the victims’ health, homes and belongings.

Durkee, along with the plaintiffs and M. Thomas Martin, president of Americas Watchdog consumer advocacy group, will provide a news conference at 10:30 a.m. Tuesday, March 17, at the home of one of the plaintiffs, Joyce Dowdy, who lives at 2553 Deerfield Lake Court, Cape Coral, FL 33909.

The group will answer residents’ questions about Chinese-made drywall during a town hall meeting at 6:30 p.m. Thursday, March 19, at the Coral Lakes community clubhouse, located at 1281 Coral Lakes Blvd., Cape Coral, FL 33909.

The town meeting is free and open to the public. Attorney Wayne S. Kreger, (bottom left photo) with the national law firm Milstein, Adelman & Kreger, based in Santa Monica, Calif., will help lead the town meeting. Kreger is handling California class-action suits concerning toxic Chinese drywall and collaborating with Durkee and other attorneys nationwide.

The class-action suit filed today by Durkee in Lee County Circuit Court could ultimately represent all owners of Coral Lakes homes with contaminated Chinese-made drywall.

According to the allegations, the defective drywall was negligently used from 2001-2008 at the height of the U.S. construction boom and installed in countless homes throughout Florida and the U.S.

The suit says that up to 20 million square feet of Chinese drywall entered the U.S. since 2003, and more than 65,000 American homes could be affected by the hazardous drywall, which emits sulfur gases, corrodes wiring, contaminates furnishings and fabrics and damages air conditioners and appliances.

“People are getting sick, families are being forced from their homes, enduring financial and emotional turmoil due to this negligence,” Durkee said.

“I have received numerous calls from people throughout Florida and will meet with them in the coming weeks.

"Rather than file a large national class-action suit with thousands of plaintiffs where our clients would be treated like a number and receive a fraction of the total damages awarded, our legal strategy is to file a series of local class-action suits on behalf of individual communities where our clients can be bigger fish in smaller ponds and ultimately stand to receive higher compensation for their losses.”

Added Martin: “Although we know that at least 65,000 new homes in the southeast, including at least 30,000 in Florida, could contain toxic Chinese drywall, we have reason to believe the number is much higher and the problem is widespread throughout the United States.

"We plan to issue a major call-to-action at the news conference to encourage homeowners to contact Americas Watchdog and get help if they believe their homes contain Chinese drywall.”

The suit names the publicly traded Engle Builders as the builder of the homes in the walled Coral Lakes community and alleges Engle obtained the toxic drywall after its manufacture in China.

These allegations are the latest among numerous recent product-safety scandals involving Chinese imports, including milk formula, toothpaste, drugs, toys, seafood and pet food.

In addition to Florida, lawyers in other U.S. coastal states where humidity can worsen the problem are also working on this matter. The U.S. Consumer Product Safety Commission recently announced its investigation of the odors and problems attributed to the Chinese-made drywall.

According to Americas Watchdog, the public may use the following criteria to assess whether homes and condos were built with Chinese-made drywall:

---They were built or remodeled between 2004 and 2008
---They have a sulfur or rotten-egg smell, particularly when all windows and doors are shut
---Residents suffer severe allergies, nose bleeds, upper-respiratory problems and other symptoms that disappear when they leave the homes for an extended time
---Air conditioning units have repeated corrosion of their coils.

For more information about Chinese drywall or the upcoming town meeting, the public may contact Durkee at (305) 442-1700 or durkee@rdlawnet.com.

Roberts & Durkee P.A., based in Coral Gables, Fla., is a partnership of David Durkee and Clay Roberts.

The attorneys have years of experience representing people in all types of civil litigation including personal injury, medical malpractice, products liability, commercial cases and insurance disputes.

They also defend people and companies who have been unjustly sued.

Contacts:

For Roberts & Durkee P.A., Roar Media, Jolie Balido, 305-586-0419, jolie@roarmedia.com or

Jeannie Salameh, 727-644-5010, jeannie@roarmedia.com

Pebley-Delhamer-Austin Team Join Grubb & Ellis's Ontario, CA Office

ONTARIO, CA, Mar. 16, 2009 – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that the team of James Delhamer (left), Terri Lee Pebley (center) and Nancy Austin (right, top photo, ) has joined its Ontario office as vice presidents with the Investment Group.

The team’s focus will be investment properties in San Bernardino and Riverside counties.

Pebley, Delhamer and Austin come to Grubb & Ellis from GRE Land & Commercial Brokerage in Murietta where they were principals.

Together they have over 70 years of commercial real estate experience and have consummated transactions across a broad range of product types including office, industrial, retail, land, self storage, assisted living and other special use properties.

“Terri, James and Nancy are all seasoned investment professionals and as a team they offer our clients a unique combination of skills and expertise,” said Mano Leventakis, senior vice president and managing director of Grubb & Ellis’ Inland Empire operation. “They will play a key role in growing our investment business, particularly in the area of distressed properties.”

Pebley has over 25 years of experience representing buyers and sellers of investment properties throughout Riverside County. She holds a B.S. in accounting from San Diego State University and a J.D. from Thomas Jefferson School of Law and is a CPA and California Real Estate Broker.

Delhamer has more than 30 years of real estate sales and development experience, including 20 years as division president of Newland Communities, a nationwide devlopment company. He holds an MBA from San Diego University and is a CPA, California Real Estate Broker and General Engineering Contractor.

Austin has over 20 years of commercial real estate experience and has represented clients in the leasing and sale of office, land and investment properties in the Inland Empire and East Los Angeles. She holds a B.S.E. and M.S. from Arkansas University as well as the Certified Commercial Investment Member designation.

“As one of the nation’s largest commercial real estate services firms, Grubb & Ellis offers the support, resources and integrated platform we felt was necessary to better serve our clients in today’s difficult economic environment,” said Pebley. “We’re excited to be part of the Inland Empire team.”

Contacts:

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

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

NAI Realvest names Patrick Mahoney Partner, President & COO

ORLANDO, FL - NAI Realvest, which currently ranks as one of the largest full service commercial real estate companies in Central Florida with more than 30 brokers and nearly four million square feet under management, has appointed Patrick Mahoney (top right photo) as a partner, president and chief operating officer.

George Livingston, (middle left photo) founder and chairman emeritus of NAI Realvest said Mahoney, a Furman University graduate with a Masters degree from the Crummer School of Business at Rollins College, has more than 15 years of business management experience.

From 1990 through 2007, Mahoney was president of Orlando-based Intercoastal Distributors, Inc., a ceramic tile and stone distribution company with branches throughout Florida.

Mahoney said as president and chief operating officer of NAI Realvest, he plans to continue to look for growth opportunities through this recession.

"We anticipate the recession will continue through 2009 before slowly recovering in 2010. However, there are plenty of opportunities and we are continually positioning ourselves to take full advantage of them," Mahoneysaid.

Mahoney said he hopes to add six to eight commercial brokers at NAI Realvest this year with a focus on bank work outs, tenant representation and corporate services.

He is also looking into potential acquisitions and/or mergers as a means for growing brokerage and property management.

Livingston said, "Patrick Mahoney is a highly analytical executive with wide ranging experience. We are confident he has the perspective and skills to position NAI Realvest to take advantage of the opportunities in the marketplace today as well as those that will emerge over the next 24 months and into the future."

For more information, contact:

Patrick Mahoney, President and COO NAI Realvest, 407-875-9989, pmahoney@realvest.com

George Livingston, Founder and Chairman NAI Realvest, 407-875-9989, glivingston@realvest.com

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

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

Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com

Arbor Closes 2 Fannie Mae Loans totaling $9M

Isabella Apartments in Bellingham, WA Receives $6,460,900

UNIONDALE, NY, Mar. 16, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $6,460,900 loan under the Fannie Mae DUS® product line to refinance the 96-unit complex, Isabella Apartments in Bellingham, WA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.50 percent.

The loan was originated by Jon Red, (middle right photo) Director, in Arbor’s full-service Spokane, WA lending office.

“The broker selected Arbor for this project as the borrower was looking for cash out with a low rate on a stabilized apartment complex he had built in 2006,” said Red.

“We were able to meet the borrower’s expectations in a very volatile interest rate environment with an attractive floating rate structure.”

Casa Villa Apartments in Forth Worth, TX Obtains $2.55M

In Fort Worth, TX, Arbor Commercial Funding closed a $2,550,000 loan under the Fannie Mae DUS® product line to refinance the 140-unit complex known as Casa Villa Apartments. (bottom right photo)

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.23 percent.

The loan was originated by Matt Norman, (middle left photo) Vice President, in Arbor’s full-service Dallas, TX lending office.

“Arbor’s ability to work with all parties involved resulted in a key acquisition for our California-based borrower,” said Norman.

Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555. http://www.arbor.com/

Tilt-Con Starts $11.5M Medical Examiner's Office in Orlando, FL

ORLANDO, FL – Altamonte Springs-based Tilt-Con Corporation, the nation’s largest tilt-up concrete constructor and leader in green construction, along with construction manager Wharton-Smith, Inc., Sanford, FL, is under way on the new state-of-the-art, $11.5 million, 38,815-square-foot LEED®-certified Florida District 9 Medical Examiners Office at 2350 East Michigan Street in Orlando, FL.

Designed by MRI Architectural Group, Orlando, the facility will serve both Orange and Osceola Counties, and is the home of celebrated Chief Medical Examiner Dr. Jan Garavaglia, (top left photo) star of Discovery Health Channel’s “Dr. G: Medical Examiner.”

In addition to the Florida District 9 Medical Examiners Office in Orlando, Tilt-Con’s other recent healthcare projects include the $135 million, 142-bed Homestead Hospital as well as the Axcess Medical Center in Sarasota, and the Blue Cross Blue Shield facility in Miami.

Tilt-Con Corporation received the coveted national 2009 Robert Aiken Innovation Award for outstanding tilt-up innovation companywide from the Tilt-Up Concrete Association (TCA).

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

Grubb & Ellis Unveils New Brand Identity

SANTA ANA, CA,Mar. 16, 2009 – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today unveiled a new brand identity that represents the company’s stronger, more diversified platform of real estate services and investment programs.

“Grubb & Ellis has undergone tremendous change over the past year, as we’ve integrated and enhanced our service offerings, while continuing to expand our investment programs,” said Jack Van Berkel, (middle right photo) chief operating officer of Grubb & Ellis Company.

“Our clients and prospective clients are looking at us differently for a reason, and we believe our new brand signifies that we are in fact a new company.”

The new logo relies on the traditional Grubb & Ellis color palette of yellow, black and white, but replaces the circle, which has been the visual representation of the firm for decades, with an arching white bridge on a yellow background. The new tagline that accompanies the logo is “From Insight to Results.”

The bridge symbolizes how Grubb & Ellis connects the needs of clients with the various real estate services and investment programs the firm provides. The tagline emphasizes the depth and breadth of the company’s market knowledge and how it translates those insights into distinct strategies for each client.

“A bridge is known as a structure that provides passage to reach one’s destination,” said Ryan Rauch, director of marketing. Similarly, “Grubb & Ellis’ new logo represents our shared passion for providing tailored solutions that help our clients reach their unique real estate and investment goals.”

To reinforce the new brand, the company has also revamped its Web site, http://www.grubb-ellis.com/, making it easy for a client to find information on the investment programs and real estate services applicable to them, whether they are an individual investor, institutional investor, or a tenant or owner-occupier of real estate.

Contact: Janice McDill, Phone: 312.698.6707. Email: janice.mcdill@grubb-ellis.com