Gabriels and RealtyTrac Announce Partnership to Deliver Nationwide Foreclosure Listings Search

NEW YORK AND IRVINE, CA. – May 11, 2009 - Gabriels Technology Solutions, the leading private label e-commerce technology provider and RealtyTrac, the leading online marketplace for foreclosure properties, today announced the introduction of co-branded foreclosure search products for new media that provide a world class competitive advantage to Gabriels’ media clients for increased site activity, enhanced user experience and increased advertising revenue.

Gabriels’ technology allows for its media clients to present its users with the same foreclosure search experience whether they are searching for local real estate listings or foreclosure listings nationwide.

The more than 1.5 million RealtyTrac default, auction and bank-owned listings offered through the co-branded sites provide additional content, traffic, ad impressions, and revenue opportunities for Gabriels’ media clients.

It also extends the local reach of the media client to allow its users to search for foreclosure properties nationwide and conduct market research on foreclosure trends and sales trends.

Gabriels is the leader in providing vertical portals for over 300 media properties with such organizations as Scripps Networks, Network Communications Inc., The New York Times Company, Hearst Newspapers, Freedom Communications, Cox Newspapers, Scripps Newspapers and Lee Newspapers.

Tan Chan, (middle left photo) Chief Operating Officer of Gabriels Technology said that "the RealtyTrac co-branded site is an easy to implement revenue generating solution for real estate content that many people are extremely interested in.

" In today’s environment, foreclosures represent a significant portion of the activity in the real estate market. For Publishers, this opportunity provides multiple revenue streams without any out-of-pocket expenditure and reinforces the Publisher’s position as the real estate resource for the local market”.

“This exciting new partnership with Gabriels Technology Solutions will allow RealtyTrac to reach a wider audience of real estate buyers and investors who are searching for properties online at major media websites,” said Rick Sharga, (top right photo) senior vice president at RealtyTrac.

“This will further our mission of democratizing the foreclosure market, giving more people convenient access to view foreclosure bargains nationwide and also providing greater exposure for bank-owned properties that lenders typically want to dispose of quickly and efficiently.”

Contact: Tammy Chan Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682, tammy@atomicpr.com

IDI Closes 29,360-SF Lease with Chadwell Supply Inc. in Austell, GA

AUSTELL, GA, May 11, 2009 – IDI, a full-service industrial real estate company, has closed a five-year, 29,360-square-foot lease with Chadwell Supply Inc., a provider of maintenance services to the multi-family housing market.

Chadwell Supply will occupy Woodlands 200, a 127,680-square-foot warehouse/distribution facility located in Austell, Ga., west of downtown Atlanta. The Tampa, Fla.-based company will take occupancy later in May and use the space for the storage and distribution of maintenance equipment and products.

IDI and JPMorgan acquired Woodlands 200 in 2006. Located at 8110 Troon Circle in Austell, the building was completed in 2001 and features minimum clear heights of 24 feet. A total of 43,769 square feet remains available for lease in the facility.

Darren Ross and Nick Faber at Grubb & Ellis represented IDI in the deal.

Based in Tampa, Fla., Chadwell Supply is a family owned business that provides maintenance supplies to the multi-family housing market. The company also operates a flooring division offering next-day installation to the multi-family and commercial markets.

About IDIWith a single focus on industrial real estate, IDI (http://www.idi.com/) provides development, investment, property management and leasing services in markets across North America.

IDI’s state-of-the-art warehouse, distribution and light-manufacturing facilities enable clients to improve employee productivity, reduce operational costs and achieve global supply-chain efficiencies.

To date, Atlanta-based IDI has developed more than 125 million square feet of space valued at $5.6 billion across North America for a growing roster of international clients.

Contacts:
Kim Hardcastle, Jackson Spalding for IDI, 404-214-0693, khardcastle@jacksonspalding.com

Charlotte Marie, DuPreJackson Spalding for IDI, 404-214-0693, cdupre@jacksonspalding.com

Arbor Closes $11M Fannie Mae DUS® Loan for Artisan Ridge Apartments in Oklahoma City, OK

Uniondale, NY (May 11, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,000,000 loan under the Fannie Mae DUS® Loan product line to refinance the 312-unit complex known as Artisan Ridge Apartments in Oklahoma City, OK.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73 percent.

The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office.

“Arbor helped this borrower group refinance, allowing them to stabilize and improve the property,” said Porterfield. ”Arbor looks forward to growing our relationship with the borrower group.”

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

Le Méridien Cambridge Completes $7M Renovation

Guest Rooms and Lobby Receive Full Makeover

CAMBRIDGE, MA, May 11, 2009—Le Méridien Cambridge hotel (top right photo) today announced the completion of a three-month, $7 million renovation of its guest rooms and public space to enhance Cambridge’s distinct and creative contemporary hotel.

The hotel is owned and operated by HEI Hotels & Resorts.

The renovation included a total make-over of the hotel, upgrading all 210 guestrooms and the lobby, and adding Le Méridien signature touches, such as the LM Bed and the Transitional Portal, featuring the artwork of LM100 artist Younes Rahmoun (bottom left photo)

The property is Boston’s only Le Meridien hotel.

“We are incredibly excited about the completion of this multi-million dollar renovation,” said Chris Lamb, director of sales. “Formerly the Hotel @ MIT, Le Meridien Cambridge combines technology and luxury in the center of one of the world’s most intellectually stimulating cities.”

Guests may dine at Sidney’s Grille, (middle left photo) an innovative contemporary American grill that focuses on fresh local ingredients with a Mediterranean flair.

The hotel’s former library, located off the lobby, has been converted into multi-function space.

All renovated guest rooms are decorated in the traditions of architectural detail from its European residential style origins combining elements of design with classic sensibility.

Each guest room will feature flat-panel televisions, personal safes, Wi-Fi Internet access and luxury bedding. Meeting space was outfitted in a modern, contemporary style. With 7,800 square feet of state-of-the-art meeting space, the hotel can serve groups of up to 250 people.

The hotel’s 8,000 square-foot Roof Top Garden offers stunning views of the city and adjacent MIT campus and is equally well suited for weddings, social events and business meetings.

More than 2,000 square feet of adaptable loft space was renovated to highlight Le Méridien’s curated Unlock Art program, which will allow guests complimentary access to the nearby MIT Museum.

Located in the heart of University Park at MIT, (bottom right photo) the premier, award-winning office, high-tech and biomedical complex, and a short walk from Harvard Square, the property features 210 rooms, including 14 suites, 7,700 square feet of state-of-the-art meeting space, a full-service restaurant, a terrace garden for outdoor functions and a fitness center.

The property is known for a distinctive guest experience, underscored by the attention to guest service and details.

About Le Méridien Hotel Brand

One of the latest additions to the Starwood family of brands, Le Méridien is a European-inspired brand comprised of luxury and upscale, full-service hotels, resorts and residences.

Each of its hotels, whether city, airport or resort, has a distinctive character driven by its individuality and the Le Méridien brand values.

With its underlying passion for food, art and style and its classic yet stylish design, Le Méridien offers a unique experience at some of the world’s top travel destinations.

For more information, visit www.lemeridien.com/cambridge.

About HEI Hotels & Resorts
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment firm that acquires, develops, owns and operates full-service, upper-upscale and luxury hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Méridien, Embassy Suites, and Hilton.

For more information about HEI, please visit the company’s website, http://www.heihotels.com/.

Contacts:

Jess Petitt, HEI Hotels & Resorts, (203) 849 2228

Jerry Daly, Chris Daly, (Media, (703) 435-6293

Mark One Capital Brokers Two Loans Totaling $14M

MANHATTAN MIXED-USE BUILDING RECEIVES $5M LOAN

NEW YORK, N.Y/ – Marcus & Millichap Capital Corporation (MMCC) has arranged a $5 million fixed-rate, nonrecourse loan to refinance a 44-unit apartment building with four retail spaces in the Union Square neighborhood of Manhattan. (top left photo)

Sean Mooney, an associate director in the firm’s Brooklyn office, arranged the financing package for the mixed-use multi-family and retail building.

Financing for this transaction was provided by a commercial bank at the rate of 5.75 percent. Terms of the loan are for 10 years with a 30-year amortization schedule. Loan to value was 65 percent.

“MMCC was able to deliver an attractive finance package that included a nonrecourse loan which was an added incentive for our borrower to close the transaction with MMCC,” states Mooney.”

SAN JOSE, CA MOBILE HOME COMMUNITY OBTAINS $9M LOAN

SAN JOSE, CA – Mark One Capital has arranged a $9 million loan for the acquisition of Mobile Manor, (bottom right photo) a 22-acre mobile home community in San Jose.

Marshall De Wolfe, a senior director in the firm’s Palo Alto office, arranged the financing package for the 200-pad mobile home community.

“There is a limited supply of mobile home communities in the city of San Jose,” says De Wolfe. “This property type is in high demand and Mobile Manor was fully occupied at the time of its sale, making this asset a stable investment.”

Financing for this transaction was provided by a commercial bank at fixed rate of 6.25 percent for the first five years. The 30-year loan amortizes in 30 years. Loan-to-value is 66 percent.

“The borrower wanted a mild prepayment penalty and Mark One Capital was able to deliver loan terms that included a 1 percent prepayment in the first five years but allowed for a 20 percent principal reduction without penalty in those first five years,” notes De Wolfe.

“Mark One added additional value to the loan by adding two multi-family, cash-out refinance transactions that provided a partial source of down payment for Mobile Manor.”

Press Contact: Kathy Molitor, Mark One Capital, (925) 953-1704 kathryn.molitor@markonecapital.com

Investment sales team joins HFF San Francisco

SAN FRANCISCO, CA – HFF (Holliday Fenoglio Fowler, L.P.) announced today that a team of capital markets associates led by senior managing directors Michael Leggett (top right photo) and Gerry Rohm (top left photo) will join the firm’s San Francisco office.

The team members, formerly of Cornish & Carey Commercial Institutional Investment Services Group, will focus on investment sales transactions primarily on the West Coast.

The Leggett and Rohm team will join HFF’s existing San Francisco office of four senior debt and structured finance professionals who are led by senior managing director and co-office head, Bruce Ganong, who opened the San Francisco office of HFF in late 2006.

The Leggett and Rohm team has more than 50 years of transaction experience having consummated approximately $4.6 billion of commercial real estate transactions consisting primarily of office, research and development and industrial properties since January 2004, including more than $400 million in 2008.

In addition, they closed a Bay Area research/development and industrial portfolio for nearly $60 million in the first quarter of 2009.

“As we have repeatedly stated since going public, we remain focused on strategic growth, both organically and from outside recruitment.

" With regard to outside recruitment, when the right people who have the highest level of integrity and best reputations in a market become available, we are prepared to take the necessary steps in both favorable economic times, as well as in challenging conditions as we now currently face, to bring on new, proven, experienced and talented transaction professionals who believe in the same culture and approach to the business,” said Jody Thornton, (bottom right photo) executive managing director in the Dallas office of HFF.

Contacts:

Joe B. Thornton Jr., HFF Executive Managing Director, (214) 265-0880, jthornton@hfflp.com

Bruce Ganong, HFF Senior Managing Director, (415) 276-6300,bganong@hfflp.com

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

Arbor Closes $2,430,400 Fannie Mae DUS® Small Loan for 81 Olive Street in Brooklyn, NY

UNIONDALE, NY (May 8, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,430,400 loan under the Fannie Mae DUS® Small Loan product line for the 9-unit property known as 81 Olive Street in Brooklyn, NY.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05 percent.

The loan was originated by Stephen York, (top right photo) Director, in Arbor’s full-service New York, NY lending office.

“The borrower’s existing loan was approaching maturity and came to Arbor looking for long-term fixed-rate financing,” said York. “We were pleased to deliver competitive terms, which included sizeable cash out.”

(Brooklyn Bay Bridge, bottom left photo)

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

Thomas D. Wood & Co.Brokers $6.8M Loan for Extra Space Storage

SARASOTA, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on May 4, 2009, in the amount of $6,800,000 for the Extra Space Storage (top right photo) facilities in Pasadena and Annapolis, Maryland.

Brad Cox, (middle left photo) CCIM, CPM, Company Vice President, along with Peyton Cross of Cross Capital Advisory, LLC, from Northern Virginia, financed the Extra Space Storage in Pasadena, Maryland in the amount of $3,000,000 through a community bank.

The loan has an interest rate of 6.25% for the first three years, then floating at 250 basis points over the then current three-year Treasury, fixed for the balance of the loan term. The loan term is six years, based on a 30-year amortization and a loan-to-value of 65%.

The 47,905 square-foot self-storage facility was built in 1992 and is located at 8919 Ft. Smallwood Road, Pasadena, Maryland.

Together they also financed the Extra Space Storage in Annapolis, Maryland, in the amount of $3,800,000 through a community bank.

The loan has an interest rate of 6.25% fixed for three years, then floating at 250 basis points over the then current three-year Treasury, fixed for the balance of the loan term. The loan term is six years, based on a 30-year amortization, and a loan-to-value of 65%.

The 64,084 square-foot self-storage facility was built in 1994 and is located at 2000 Trout Road and 2023 Renard Court, Annapolis, Maryland.

For further information, please contact:
Brad Cox (941) 552-9731 bcox@tdwood.com

Jessica Gurtowski (407) 937-0470 jgurtowski@tdwood.com

Industrial Team at Southern Commercial Completes 22,720 SF Lease

ORLANDO, FL--Principals William “Bo” Bradford, CCIM, SIOR and Tom McFadden, SIOR of Southern Commercial Real Estate Advisors completed a 22,720 square foot new lease at 8810 Boggy Creek Road, (top right photo) Orlando, Florida.

McFadden and Bradford negotiated the three year new lease, representing the Landlord, DCT Industrial.

The tenant, Kenco Logistic Services, Inc. was represented by Wilson McGinness with JDK Real Estate, LLC out of Chattanooga, TN.

Media Contact: Celeste MacKenzie, 321-281-8503, cmackenzie@southercommercialre.com

Grubb & Ellis Selected to Market for Sale Edgewater Park Plaza in Oakland, CA

SAN FRANCISCO, CA (May 7, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced it has been selected to market for sale Edgewater Park Plaza (top right photo) in Oakland.

The property consists of four two-story office buildings totaling nearly 205,000 square feet.

Located at 7700 Edgewater Drive, Edgewater Park Plaza is currently home to more than 50 tenants, including the American Postal Workers Union and Girl Scouts of America.

It is within close proximity to the Oakland International Airport and the Wal-Mart-anchored Hegenberger Gateway Shopping Center which was recently completed.

“Edgewater Park Plaza is one of the only office projects in the Oakland Airport submarket that offers tenants a premier amenity base within a business park setting,” said Edward Suharski,(middle left photo) executive vice president, Grubb & Ellis.

“The property also provides investors the opportunity to acquire one of the leading office projects in the area at a substantial discount to replacement cost.”

Completed in 1976, the property offers excellent street visibility for tenant monument signage, onsite property management and onsite storage. The grounds include landscaped courtyards and water features that create an inviting business park environment.

“The Oakland Airport submarket has seen an increase in tenant demand over the past few quarters,” said Steven Golubchik, associate vice president. “It has been attracting tenants looking for low rent alternatives, outperforming many other East Bay submarkets during the current economic cycle.”

In addition to Suharski and Golubchik, the San Francisco-based sales team includes vice president Seth McKinnon.

Contacts:

Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

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

Stirling Sotheby's International Realty in Orlando Claims Home Sales Hottest in Three Market Sectors

ORLANDO, Fla. - Central Florida home sales may still leave a lot to be desired but three market segments are warming up fast, according to Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando.

“About half of all home sales in the Central Florida market today qualify as distressed sales,” said Soderstrom. “These include short sales and foreclosures,” he said.

That’s no secret, Soderstrom said, but two emerging market segments are much more promising.

“First-time home buyers seeking houses priced under $400,000 are mostly younger buyers, under 34, who were priced out of the market from 2004-2007, but are now able to purchase a home due to a 40-50 percent drop in the median sale price,” Soderstrom said.

Today’s up to $8,000 tax credit for first time home buyers is also enhancing current sales activity, he said.

Families seeking vacation homes, pre-retirement and retirement homes are starting to heat up the market, Soderstrom added.

“Many Americans, Canadians and U.K. residents are looking for homes priced from $125,000 to just under $300,000,” Soderstrom said, “and generally they prefer new homes or recently built homes and condominiums.”

“We are seeing substantially more activity in all three of these market sectors, but at the same time we’re seeing some recovery in the upper tier – $1,000,000 to $3,000,000 range – that Stirling Sotheby’s International Realty (www.StirlingSIR.com) is most recognized for.

"There are some amazing values and opportunities in the market right now and I don’t know when it will be a better time to buy a home,” he explained.

“It will be many years before we see a return to 2005 levels but we are seeing many bright spots here and there,” Soderstrom said.

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

Regency Centers Reports First Quarter Results

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG)has announced financial and operating results for the quarter ended March 31, 2009.

Funds From Operations (FFO) for the first quarter was $55.0 million, or $0.78 per diluted share, compared to $61.2 million and $0.87 per diluted share for the same period in 2008.

(Top left photo, Downtown Jacksonville at night, highlighting 30-story Independent Life and Accident Insurance Co. Building)

Excluding a one-time severance charge of $2.24 million in March in connection with the Company's ongoing cost savings initiatives originally planned to occur later in the year, first quarter FFO per share would have been $0.82.

Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental earnings measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry.

Net income attributable to common stockholders for the quarter was $19.6 million, or $0.28 per diluted share, compared to $26.7 million and $0.38 per diluted share for the same period in 2008.

For a complete copy of the company's news release and its financials, please contact Lisa Palmer, 904-598-7636. http://www.regencycenters.com/

Cushman & Wakefield promotes Orlando industrial broker Lee Morris

ORLANDO, FL –Cushman & Wakefield, Orlando (C&W) has announced the promotion of Lee Morris (top right photo) from Associate Director to Director in the firm’s industrial brokerage.

In this role, Morris will continue to lead a team of brokers assisting owners, tenants, and developers with all aspects of property ownership, including sales, leasing, site selection, development, sale/leasebacks, 1031 exchanges, and build-to-suits

A 25-year veteran of commercial real estate, Morris has facilitated more than $1 billion in sales and leasing transactions, and has been consistently recognized as a top producer by the Central Florida Commercial Association of Realtors, the Orlando Business Journal and CoStar.

Lake Mary, FL to be home to Florida’s greenest commercial buildings

ORLANDO, FL – The greenest commercial buildings in the state of Florida are slated for construction in Lake Mary later this year.

Located at 4903 CR 46A, The Hills of Lake Mary Professional Centre (bottom left rendering) will consist of four buildings totaling 72,400 square feet, spread out in a corporate campus over seven acres.

The development is the first in Florida designed to meet the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) highest standard: Platinum-certification.

Developed by Mariner Asset Management Services headquartered in West Palm Beach, the 4-building campus designed by internationally recognized architects at Gensler, will not only attain LEED’s highest level of certification, but is also engineered to be 100% carbon neutral, meaning that carbon emissions are balanced by a measured amount of carbon released with an equivalent amount sequestered or offset.

For more information, please contact:
Brook Hines Marketing and Public Relations Associate 407.541.4401 brook.hines@cushwake.com

Betsy Owens Office Brokerage 407.841.8000 betsy.owens@cushwake.com

Douglas Eber Office Brokerage 407.841.8000 douglas.eber@cushwake.com

The Dow Hotel Co.Names Joseph G. Coursolle, General Manager

Hotel is Undergoing $6 Million Renovation

SEATTLE, WA—The Dow Hotel Company, LLC, (DHC) a hotel ownership, investment and management company, announced that Joseph G. Coursolle, (top right photo) CHA, has been named general manager of the 227-room Hilton San Antonio Hill Country Hotel and Spa. (bottom right photo)

He will report directly to Steven Falciani, (middle left photo) regional vice president of operations.

The hotel is owned by a joint venture between New Jersey-based Prudential Real Estate Investors and DHC, which also manages the property.

The hotel converted to the Hilton hotel brand at the beginning of 2009 and is undergoing a $6 million renovation, which is being conducted in phases in order to eliminate guest disruptions.

“Joe brings with him nearly three decades of hospitality industry experience, as well as a working knowledge of the San Antonio area,” said Murray Dow, (bottom left photo) president of The Dow Hotel Company.

“In addition to experience as a general manager, he also has extensive experience with the Hilton brand. We expect his expertise and skillset to enhance an already successful resort-style property, and that his operating experience in a variety of economic climates will benefit the hotel.”

Previously, Coursolle was general manager at the Embassy Suites Hotel Indianapolis in downtown Indianapolis.

During the course of his career, he has served as general manager of four different properties, including the Embassy Suites Austin–North and two other hotels in San Antonio. He has a Bachelor of Arts degree in Business Administration from the University of St. Thomas, St. Paul, Minn.

Contact: Jerry Daly, Chris Daly, (703) 435-6293, jerry@dalygray.com

Cushman & Wakefield Tampa Promotes Angell and Lanning

TAMPA, FL– Cushman & Wakefield is pleased to announce that Mercedes Angell (top right photo) and Jeffrey W. Lanning (bottom left photo) in the Tampa, FL office of Cushman & Wakefield of Florida Inc. have been promoted to the title of Senior Director.

Mercedes Angell joined the Tampa office of Cushman & Wakefield as a Leasing Manager in 1995. In 2005, Ms. Angell was promoted to Director.

Ms. Angell primarily represents landlords and building owners with assets throughout the Tampa Bay area and is responsible for a portfolio of office parks totaling more than 2.4 million square feet. The properties range from Class "A" buildings to single-story, garden-style office parks. Since 2000, Ms. Angell has leased 2.9 million square feet of office space.

In response to Ms. Angell’s recent promotion, Larry Richey, (bottom right photo) Senior Managing Director for Cushman & Wakefield of Florida, was quoted as saying, “Mercedes is exceptional as the head of our Office Landlord Agency Group in the Tampa Bay market. She is one of our top producers, and this promotion is well deserved.”

Jeffrey W. Lanning has been promoted to the title of Associate Director.

Mr. Lanning provides agency leasing and tenant representation throughout the Tampa Bay area and is responsible for leasing an office portfolio of approximately two million square feet.

These properties range from Class "A" buildings and single-story garden-style office parks to flex service center facilities.

During 2008, Mr. Lanning and his business partner, Mercedes Angell, leased an astonishing 561,000 square feet worth over $65,000,000 in transaction value.

In response to Mr. Lanning’s promotion, Larry Richey, Senior Managing Director for C&W’s Florida office, was quoted as saying, “Jeff is one of the most talented younger emerging brokers in our Tampa office. This recognition, which is based upon certain production thresholds, is well deserved.”

Contact: Marcianne Foster, 813-204-5345, Marcianne.Foster@cushwake.com