MIAMI, FL-- Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on April 27, 2009, in the amount of $3,965,000 for the Cal Linda Freeport office/ warehouse buildings (top right photo) in Sparks, Nevada.

Steve Wood, (bottom left photo) Company Chief Operating Officer, along with Tony Castrignano of Sky-Mesa Capital, financed the 50-360 Freeport buildings in the amount of $3,000,000, and the 250 Cal Lane/1080 Linda Way buildings in the amount of $965,000, through Thomas D. Wood and Company’s correspondent relationship with StanCorp Mortgage Investors.

Both loans have a fixed interest rate of 6.50% and a 5+5+5+5+5-year term, based on a 25-year amortization.

The Cal Linda Freeport office/warehouses were built in 1977 and 1978 and are located at 50-360 Freeport Boulevard, 1080 Linda Way and 250 Cal Lane, Sparks, Nevada.

For further information, please contact:

Steve Wood, (305) 447-7820, swood@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Arbor Closes $807,100 Fannie Mae DUS® Small Loan ARM for Pine Forest Apartments in Pine Lake, GA

UNIONDALE, NY -- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $807,100 loan under the Fannie Mae DUS® Small Loan ARM product line for the 24-unit complex known as Pine Forest Apartments in Pine Lake, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.95 percent.

The loan was originated by Patrick McGovern, (bottom right photo) Director, Corporate Accounts, in Arbor’s full-service New York, NY lending office.

“Utilizing Fannie Mae’s Capped ARM program, Arbor was able to provide the borrower with floating rate debt,” said McGovern. “This gave the client the ability to prepay the loan after the first year.

CONTACT:

Ingrid Principe
Arbor Commercial Mortgage
333 Earle Ovington Blvd., Suite 900
Uniondale, NY 11553
P: 516.506.4298
F: 516.542.2555
www.arbor.com

HFF arranges $3.5M refinance of Austin, TX multifamily community

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced has arranged a $3.5 million refinancing for The Villas at San Gabriel, (above centered photo) a 26-unit multifamily community in Austin, Texas.

Working exclusively on behalf of 2410 San Gabriel, L.P., HFF managing director Susan Hill (top right photo) placed the 10-year fixed-rate loan with American National Insurance Company.

The Villas at San Gabriel are located at 2410 San Gabriel Street within walking distance to the University of Texas at Austin. (bottom left photo)

The property has maintained 100% occupancy since completion in 1998 and is currently fully leased to University of Texas students.

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

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

Contacts:

SUSAN L. HILL, HFF Managing Director, (713) 852-3500, shill@hfflp.com

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

Paris Hotel Chain Matches British Airways Free Flights Deal by Offering 5,000 Free Room Nights

(PARIS)--Accor Hotels is investing about $738,466 on a promotion it hopes will bring it new future international business.

The Paris-based lodging chain is matching a free flights offer being announced by British Airways, Avis and The Daily Mail in London as part of the Backing Britain campaign launched this week.

(Eiffel Tower, Paris, top left photo)

As one of the leading global hotel groups with over 4,000 hotels worldwide and as a preferred hotel partner to British Airways and UKTI, Accor Hotels will match the airlines’ offer of 5,000 free flights with 5,000 free room nights worldwide, to anyone that qualifies for the British Airways offer.

Frédéric Fontaine, Accor head of sales, marketing and distribution, UK and Ireland says, "We are wholehearted supporters of this campaign.

“Small businesses are the beating heart of the British economy and it's absolutely right that their importance and value is recognized and supported.

“It is with great pleasure that we back this outstanding initiative and offer 5,000 free nights to match small medium enterprises earning 5000 free British Airways flights.

“This initiative is in line with our longstanding commitment to small businesses for who we offer a free to join the small business enterprise scheme – called Accor Away On Business -- providing them with instant registration and access to up to 10% discounts on our best on line rates across 1,300 hotels and seven brands (Sofitel, Pullman, Novotel, Mercure, Ibis, All Seasons and Hôtels Barrière) to match all budget needs.”

Fontaine says the promotion also includes an upgrade to its AIClub worldwide loyalty program. “With Accor Hotels, small business enterprises can lower their costs without lowering their standards,” he adds.

Accor’s offer of 5000 free room nights represents a half a million pound investment ($739,466 US) to encourage trade and travel to stimulate international business.

Grubb & Ellis Names Two New Vice Presidents

Thomas Green is Vice President, Industrial Group

MARLTON, NJ– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,announced that Thomas Green, CCIM, (top right photo) a 21-year veteran of the commercial real estate industry, has joined the company as vice president, Industrial Group, effective immediately.

“Tom brings an extensive knowledge of the Southern New Jersey market as well as the experience of representing a broad range of clients and having been on the investor/developer side of the business,” said Bob Clements, executive vice president and managing director of Grubb & Ellis’ Philadelphia-area offices. “We are excited about the wealth of experience he brings to our Industrial Group.”

Green joins Grubb & Ellis from First Industrial Realty Trust, where he was an investment officer responsible for acquisitions and dispositions throughout the Philadelphia and Baltimore/Washington regions.

During his three years in this role, he acquired $49 million of industrial buildings totaling 1.4 million square feet. Green joined First Industrial as a senior marketing and leasing manager in 2003 and was responsible for marketing and leasing a 2-million-square-foot portfolio throughout South New Jersey.

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

Fred Cochran is Regional Vice President in Florida

SANTA ANA, CA – Grubb & Ellis Realty Investors LLC announced that Fred D. Cochran (top right photo) has joined the company as a regional vice president in Florida. Cochran will also be a registered representative of Grubb & Ellis Securities Inc., the broker-dealer affiliate of Grubb & Ellis Realty Investors.

In his new role, Cochran is responsible for raising equity for Grubb & Ellis Realty Investors’ real estate investment trust programs (Grubb & Ellis Apartment REIT and Grubb & Ellis Healthcare REIT) in the state of Florida. Cochran will work closely with John Wilkins, senior regional vice president for the Florida region.

“With 13 years of investment real estate experience, Fred joins Grubb & Ellis Securities backed by a successful track record and an in-depth understanding of the markets,” said Randy Beckman, executive vice president of sales.

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

CB Richard Ellis Retained by 7-Eleven to Evaluate Rental Rates in Key Markets

TAMPA, FL– CB Richard Ellis (CBRE) has been engaged by 7-Eleven, Inc. to conduct a comprehensive review of its real estate portfolio in key markets nationwide. The project will include analyzing fair-market values for 7-Eleven's retail sites and negotiating lease terms, when appropriate, in line with current commercial rental rates.

CBRE's team will be led by Senior Vice Presidents Michael G.Friedman (top right photo) and Will Evans from the Dallas office. Friedman has worked with 7-Eleven for more than 20 years. While many other retailers are contracting, 7-Eleven is focused on growing its store base by approximately 200 stores this year.

"7-Eleven is an investment-grade tenant in expansion mode during challenging economic times," said Dan Porter, vice president of real estate for the convenience retailer. "Working together with CBRE, our objective is to partner with property owners to determine how we both can succeed for the long term and survive these difficult market conditions through deal restructurings, lease negotiations and new site development."

In an effort to align rent expense with current market rates, CBRE, on behalf of 7-Eleven, has begun a formal review of all leased stores in its real estate portfolio. CBRE/7-Eleven expects to enter into discussions with property owners to negotiate terms and restructure lease agreements where discrepancies between rental rates and market values exist.

"This is prudent business practice for any retailer during these unusual economic times, particularly with the footprint that 7-Eleven has nationwide," says Friedman. "Through our analysis, we believe we will discover solutions that will assist 7-Eleven in reducing its overall operating expense."

Additionally, 7-Eleven's real estate development team is evaluating sites for new development opportunities with other landlords who may be experiencing lease defaults or retail flight by their current tenants. The company operates about 5,700 stores in the U.S. under the 7-Eleven® brand and opened approximately 170 stores in 2008.

Contact: Lauren Crawford, 813.273.8482, lauren.crawford@cbre.com

Mark One Capital Arranges $3.22M Loan for Texas Retail Center

BEAUMONT, TX – Mark One Capital has arranged a $3.22 million loan for the acquisition of Beaumont Fountain Plaza, (top right photo) a 23,524-square foot multi-tenant retail center, located at 3050 N. Dowlen Road in Beaumont, Texas.

Geoffrey Harris, (bottom left photo) a senior director in the firm’s Phoenix office, and Farhan Kabani, a senior associate in the firm’s Dallas office, arranged the financing package for the property.

“Beaumont Fountain Plaza was classified as an un-anchored retail asset,” says Kabani. “Mark One Capital was able to overcome the objection that the center was un-anchored due to the property’s high-historical occupancy levels, strong tenant mix, rental rates and premier location.”

Financing for Beaumont Fountain Plaza was provided by a commercial bank at a fixed rate of 6.04 percent for the first five years, then adjusting. Terms of the loan were for 25 years with a 25-year amortization schedule. The loan-to-value was 65 percent.

“An added benefit for our client was that we were able to close the loan in less than 40 days,” adds Kabani.

Press Contact: Kathy Molitor, Mark One Capital, (925) 953-1704, http://www.markonecapital.com/

Richmond, VA Office Leasing Still Steady Despite Soft Sales Market

RICHMOND, VA: Metro Richmond was dealt some bad cards to start off the new year, yet is weathering the string of corporate downfalls and looks to turn the corner later this year, according to Perry H. Moss, (top right photo) Regional Director of Research, GVA Advantis, Richmond, VA.

The sales market has all but evaporated.

The leasing market, however, is relatively steady as tenants know that now is the time to strike that ideal lease. Other fundamentals have been damaged with only moderate effects.

Despite the almost daily influx of negative economic news, the metro area maintains seven Fortune 500 companies, down just one from last year.

Recent corporate import, MeadWestvaco announces 2,000 layoffs, leading them to bypass multiple floors at their still under construction CBD HQ.

Circuit City no longer exists. Capital One, a major local employer reported lowered than expected 1st Q earnings while laying off nearly 60 employees.

Contact:

Perry H. Moss CCIM, MBA
Regional Director of Research
Advantis Real Estate Services Company
707 East Main Street, Suite 1400
Richmond, VA 23219
Tel 804.672.4248
Fax 804.783.1920
E-mail pmoss@gvaadvantis.com

http://www.gvaadvantis.com/

Marcus & Millichap Settles Suit With Sperry Van Ness and Two Former M&M Brokers

(Below are two releases received by DONE DEALS on the same issue. The Marcus & Millichap release was received first and is posted below. The statement from Sperry Van Ness follows the Marcus & Millichap release)


ENCINO, CA— Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, will recover significant damages from its former Portland, Ore. broker of record Gary Imbrie, (middle left photo) his son Ryan Imbrie (bottom right photo) and Sperry Van Ness International Corporation, Inc.

According to Paul Mudrich, (top right photo) senior vice president and chief legal officer of Marcus & Millichap, the Imbries left Marcus & Millichap in June 2004 to open a Portland office for competitor Sperry Van Ness.

Marcus & Millichap filed a lawsuit against the Imbries and Sperry Van Ness in Irvine, Calif., alleging that they misappropriated key business documents and attempted to misappropriate an exclusive listing, in an effort to jumpstart their new venture.

“While Marcus & Millichap respects the decision of any of its independent contractor sales agents to leave the firm and pursue other opportunities,” says Mudrich, “we will not permit departing sales agents to disrupt our customer relationships, or to take confidential and proprietary business documents with them.”

Mudrich explains that the firm pursued this action “to make it clear to departing salespersons and Marcus & Millichap’s competitors that the firm will vigorously protect itself from any such unfair acts of competition.”

Although the Imbries and Sperry Van Ness denied the allegations, they have agreed to pay Marcus & Millichap to obtain the dismissal of the pending action, according to Mudrich.

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

****************************************************************************

Sperry Van Ness Says M&M's Allegations Had 'No Merit Whatsoever'

IRVINE, CA--Sperry Van Ness International Corp. Inc. announced today that it had entered into a settlement with competitor M & M involving a former disgruntled Oregon-based broker who had left M&M to join SVN as a National Advisor in 2005.

Both the broker and SVN were sued by M & M in Orange County Superior Court, and that case was later dismissed by the judge on grounds that the case should have been filed by M & M in Oregon.

M & M appealed the adverse decision against it, and while the appeal was pending, the case was settled through a private mediation that took place in Portland, Oregon in late January 2009.

Pursuant to the terms of the settlement, SVN agreed to pay M & M the amount of $15,000. SVN denied having engaged in any wrongdoing or unlawful conduct.

A mutual release and waiver of claims was given by both sides, including a release of any claims SVN might have had against M & M and its attorneys for malicious prosecution and abuse of process.

A subsequent, separate settlement was reached between M & M and its former Oregon broker, which SVN had no involvement or participation.

Kevin Maggiacomo, (bottom right photo) president of Sperry Van Ness, characterized the claims brought by M & M against SVN as "having no merit whatsoever." The Company's decision to settle was based on 'nuisance' value."

Contact: Kevin, Maggiacomo, president, Sperry Van Ness, maggiacK@SVN.com

Marcus & Millichap Secures $12.95M Listing for Development site in Valley Village, CA

VALLEY VILLAGE, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Sherman Village, a 150,486-square foot development site in Valley Village, a district in the San Fernando Valley region of Los Angeles.

The listing price is $12.95 million.

Greg Harris, (bottom left photo) executive vice president investments and a senior director of the firm’s National Multi Housing Group (NMHG) in Encino, is representing the seller, a Southern California-based private investor.

“Valley Village is a prime San Fernando Valley location adjacent to Sherman Oaks and Studio City,” says Harris. “The area’s average household income is approximately $90,806 per year.”

Located at 12629-12729 Riverside Drive in Valley View, the property is near U.S. Route 101, the Ventura Freeway, Interstate 405, the San Diego Freeway and State Route 170, the Hollywood Freeway. The asset is also proximate to the Sherman Oaks Fashion Square and the Sherman Oaks Galleria.

Sherman Village is a 3.45-acre site entitled for the development of 264 multifamily units on eight parcels.

Founded in 1939, Valley Village was an upscale part of North Hollywood until officially recognized by the Los Angeles City Council as a separate community.

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

Stirling Sotheby’s International Realty negotiates lease agreement for 4,558 SF of Class A office space in Downtown Orlando

ORLANDO, FL --- Stirling Sotheby’s International Realty recently negotiated a new long-term lease agreement for 4,558 square feet of Class A office space on the 14th floor of the Plaza North Tower, (top right photo) located on Orange Ave. at Church St. in downtown Orlando.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said John Kurtz of Stirling Sotheby’s International Realty’s World Marketing Center Team negotiated the lease agreement representing the landlord, Swamp Donkey LLC.

The lease agreement is worth more than $500,000, Soderstrom said.

The tenant is Jaymor Group, a real estate investment and development firm based in Ontario.


For more information, please contact:

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty, 407-588-1260

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

Grubb & Ellis|Commercial Florida negotiates sublease renewal agreement for 12,000 SF of industrial space in Tampa

TAMPA, FL -- Grubb & EllisCommercial Florida, associated with 130 Grubb & Ellis offices worldwide, recently negotiated a long-term sublease renewal of 12,000 square feet in the industrial center located at 9302 Florida Palm Drive in Tampa.

Jan Boltres, (top right photo) CCIM and Michael Scott, (bottom left photo) principals and senior vice presidents at Grubb & EllisCommercial Florida, represented the sublessor, Qwest Communications Company of Denver, in the negotiations with the tenant, Tampa-based Office Pavillion of South Florida.

http://www.commercialfl.com/

Contacts: Jan Boltres CCIM 813-639-1111, ex270

Michael Scott, 813-639-1111, ex275

Jeffrey Sweeney 407-481-5387

Larry Vershel Communications, 407-644 4142

Entrust President Says Builders, Developers Can Solicit Financial Support from Owners of Self-Directed IRAs

LAKE MARY, Fla. - Builders and developers who are finding it difficult to secure financing from traditional lenders can solicit owners of self-directed retirement accounts, says a leading funds administrator.

Glen Mather,(top right photo) president of Entrust Administrative Services, which administers more than 2,000 retirement accounts that total more than $200 million from offices in Lake Mary, Boca Raton and Jacksonville, told the Latin Builders Association in Miami recently that they should go directly to the source to seek alternative funding for worthy projects.

“It’s not just homes, it’s commercial too,” Mather told the more than 70 builders in the audience. “Builders and developers can gain access to finance through individual IRAs if they take the time to learn the correct approach,” he said.

Mather said IRAs can lend to companies, limited partnerships and individual ventures and serve as a stockholder.

Mather said one representative in the group was raising funds to finance individuals who wanted to buy mortgages.

“They are pooling resources to provide financing for distressed properties at a very low price so that individuals can acquire and remodel properties for resale or rental,” Mather said. “The IRAs would then become the lien holders---in effect, the bank---to make these transactions happen.

For more information contact:

Glen Mather, President Entrust Administrative Services, Inc. 407-367-3472 gmather@entrustfl.com;

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

Daryl Carter Closes Deals on 333 Acres in Lake and Sumter Counties, FL

164-Acre Honeycut Road Parcel in Lake County Goes for $657,208 Cash

LAKE COUNTY, FL--Daryl M. Carter, Trustee of Carter-Lake 918 Highway 33 Land Trust recently purchased 164± acres in Lake County, Florida from Honeycut Ranch, LLC for $657,208 cash.

The 164 acre parcel is located on the east side of Honeycut Road and adjoins a 918 acre parcel which Carter purchased in 2007.

Daryl M. Carter, Preston Hage and Patrick Chisholm with Maury L. Carter & Associates, Inc. represented the Buyer.

169-Acres Near Florida Turnpike's Okahumpka Service Plaza Sells for $7M

SUMTER COUNTY, FL--Daryl M. Carter, Trustee of Carter-Sumter 2444 Highway 468 Land Trust recently completed a transaction with Florida Power Corporation d/b/a Progress Energy Florida, Inc. for sale of 108± acres and an easement encompassing 61± acres for a total price of $7,043,865.

The property is located on the east side of the Florida Turnpike near the Okahumpka Service Plaza in Sumter County, Florida.

Daryl M. Carter with Maury L. Carter & Associates, Inc. represented the Seller.

Contact:

Joan M. Fisher
Administrative Assistant
Maury L. Carter & Associates, Inc.
3333 S. Orange Avenue, Suite 200
Orlando, FL 32806-8500
(407) 581-6207 direct
(407) 422-3144 office
(407) 422-3155 fax
jfisher@maurycarter.com

Marcus & Millichap Names David Bradley Regional Manager of Jacksonville, FL Office

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

“David has been serving as the sales manager in Jacksonville for nearly a year. He has been instrumental in growing the office and moving it to permanent space,” says Green.

“David’s management skills, combined with his extensive transaction experience as a commercial real estate investment specialist, make him an invaluable resource to our agents and clients throughout Florida.”

Bradley joined Marcus & Millichap in 2004 and achieved associate status in 2005. In 2006, he earned a sales recognition award and joined the management team as a sales manager in the Fort Lauderdale office.

Before joining the firm, Bradley served as a student representative in Pennsylvania for Penn State Lion Line, working with alumni donors. He graduated from Pennsylvania State University with a bachelor’s degree in psychology and a minor in business.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716 direct,
(415) 672-6460 cell, (925) 953-1710 fax, stacey.corso@marcusmillichap.com