Grubb & Ellis Files 2008 10-K

SANTA ANA, CA (May 28, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has filed its 2008 Annual Report on Form 10-K with the Securities and Exchange Commission.

The filing follows the company’s March 18, 2009 announcement that its 2008 10-K would be delayed to provide time to restate certain previously issued financial statements.

The company also filed with the SEC amended Form 10-Qs for the first three quarters of 2008 to reflect the restatement.

The restatement was necessary to correct accounting errors related to the timing of revenue recognition relating to certain tenant-in-common investment programs sponsored by NNN Realty Advisors and its subsidiaries prior to the company’s merger with NNN Realty Advisors in December 2007.

The 2008 10-K includes the restatement of Grubb & Ellis’ previously issued financial statements for the years ended December 31, 2007 and 2006.

The company reported 2008 fourth quarter revenue of $156.0 million, and 2008 revenue of $611.8 million. The company reported a net loss of $262.9 million, or $4.15 per share, for the fourth quarter, and a net loss of $330.9 million, or $5.21 per share, for 2008.

For a complete copy of the company's news release, please contact:

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

GVA Advantis Grows Orlando Office With Two Associates

ORLANDO, FL – (May 27, 2009) – GVA Advantis recently added two new brokerage associates in its Orlando office: Connie Snyder, (top right photo) Associate Director, Office Services, and Don Rudolph, (middle left photo) CCIM, Associate, Office & Industrial Services.

Both come with rich backgrounds in diverse areas of commercial real estate. Snyder recently left her position as Medical Office Specialist of RE/MAX 200 Realty’s Commercial Division having developed a successful niche in the medical office building segment, generally regarded as a somewhat recession-proof business.

Rudolph, who earned his Certified Commercial Investment Member designation in 2007 and recently served as associate of office and industrial services with NAI Realvest, brings experience in land, office and industrial services, but also tenant representation, investment and buyer brokerage services.

“Connie and Don complement our team and round out the services the Orlando office provides. Along with our steadily growing property management division, I feel like there’s nothing we can’t accomplish right now,” said Lisa Bailey,(bottom right photo) senior director of office & industrial services of GVA Advantis’ Orlando office.

At a time when many brokerage firms are not hiring or even letting representatives go, GVA Advantis’ corporate office, based in Washington, D.C., is continuing the growth plan it outlined last year when the company announced its recapitalization.

With a concentration of offices in Florida, the health and growth of the Orlando branch is central to the company’s strategy. In addition to the new brokers joining the ranks, Orlando’s leasing division has won nine new leasing assignments and the property management division has won two assignments since the beginning of the year.

“We are grateful that our company sees the need and value in adding talent at this challenging time, and we are grateful for the expertise that both Connie and Don bring to the table,” said Bailey. “The time was right to make this needed addition.”

Media Contact:

Shelli Browning, 407.999.4775, sbrowning@gvaadvantis.com

EastGroup Properties Announces 118th Consecutive Quarterly Dividend

JACKSON, MS, May 27, 2009– EastGroup Properties (NYSE-EGP) announced today that its Board of Directors declared a quarterly dividend of $.52 per share payable on June 30, 2009 to shareholders of record of Common Stock on June 19, 2009.

This dividend is the 118th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $2.08 per share.

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California.

Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup's portfolio currently includes 27 million square feet.

Contact: David H. Hoster II,(top right photo) President and Chief Executive Officer or N. Keith McKey, Chief Financial Officer(601) 354-3555

Arbor Commercial Mortgage Goes West with Office Expansion

National Lender Continues to Grow Market Share

UNIONDALE, NY (May 27, 2009) - On the heels of being named a top ten Fannie Mae DUS® lender for the second consecutive year, Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, has announced today an expansion into the west coast with the addition of two new California offices located in Woodland Hills and Manhattan Beach.

These two new offices will join Arbor’s existing Spokane, WA location to serve as the west coast branch of operations. Directors in these offices will report to Ken Fazio, (top right photo) VP, National Sales Manager.

“This expansion reflects Arbor’s continued growth and our commitment to provide our current and future clients with the best service possible,” said Fazio.

“We are also pleased to welcome to our team two seasoned professionals, who each bring with them 20-plus years of experience in the commercial real estate industry.”

Jon Red (top left photo) is a Director in Arbor’s Spokane, WA office. Mr. Red is responsible for originating Fannie Mae, FHA, Bridge, Mezzanine and Preferred Equity transactions throughout the northwest and western United States.

Mr. Yogesh Joshi has been appointed to Director for Arbor’s Woodland Hills, CA office. Mr. Joshi is responsible for originating Fannie Mae, FHA, Bridge, Mezzanine and Preferred Equity transactions throughout the western United States.

Mr. Joshi brings more than 21 years of experience in the mortgage banking and investment industry to Arbor. Prior to joining the Company, Mr. Joshi served as a Director for Prudential Mortgage Capital in Los Angeles, CA, where he originated over $650 million in multifamily loans under Fannie Mae, FHA and capital markets.

Mr. Greg Gilliam has been appointed to Director for Arbor’s Manhattan Beach, CA office. Mr. Gillam is responsible for all of Arbor’s loan offerings including Fannie Mae, FHA, CMBS, Bridge, Mezzanine and Preferred Equity.

Mr. Gillam brings over 20 years of combined experience in the areas of loan production, business development, underwriting and portfolio management to Arbor.

Most recently, held the position of Director at Prudential Mortgage Capital Company, where he was the Senior Business Development Manager for the Fannie Mae DUS® mortgage loan program.

Contact: Ingrid Principe, IPrincipe@arbor.com, http://www.arbor.com/

Grubb & Ellis Amends Credit Facility

SANTA ANA, CA (May 26, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that the company and its lead bank, Deutsche Bank Trust Company Americas, have amended the company’s senior secured credit facility.

“We are pleased that we have been able to amend our credit facility, particularly in the current environment, which we believe is an endorsement of the company’s strength, resilience and growth strategy,” said Gary H. Hunt, (top right photo) the company’s interim chief executive officer.

The amendment, entered into on May 20, 2009 and effective as of May 18, 2009, modifies the amount, terms, length and certain other provisions of the facility, and imposes various conditions on the company.

These conditions, as well as other material provisions of the amended credit facility, are described in the company’s Annual Report on Form 10K that will be filed later in the day with the Securities and Exchange Commission. Under the new structure, the $67.3 million maximum aggregate credit facility includes a $29.3 million revolving line of credit and a $38 million term loan.

The facility will remain in effect until March 31, 2010, and may be extended until January 5, 2011 under certain conditions, subject to early termination in certain circumstances.

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

Thomas D. Wood & Co. Brokers $3.2M Reno, NV Loan

MIAMI, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on May 19, 2009, in the amount of $3,200,000 for Quail Corners II and III (top left photo) in Reno, Nevada.

Steve Wood, (bottom left photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed Quail Corners II in the amount of $1,850,000 through Thomas D. Wood and Company’s correspondent relationship with the Standard Life Insurance Company at an interest rate of 6.625%.

The loan term is five years, and can be reset every five years, based on a 25-year amortization and a loan-to-value of 66%.

The 15,251 square-foot office building is home to major tenant Select Real Estate of Nevada. Quail Corners II was built in 1999 and is located at 6512 S. McCarran Boulevard, Reno, Nevada.

Together they also financed Quail Corners III in the amount of $1,350,000 through Thomas D. Wood and Company’s correspondent relationship with the Standard Life Insurance Company at an interest rate of 6.625%.

The loan term is five years, and can be reset every five years, based on a 25-year amortization and a loan-to-value of 60%. The 11,001 square-foot office building is home to major tenant Charles Schwab & Company. Quail Corners III was built in 1999 and is located at 6502 S. McCarran Boulevard, Reno, Nevada.

For further information, please contact:
Steve Wood (305) 447-7820 swood@tdwood.com

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

http://www.tdwood.com/.

NAI Realvest forms Special Asset Services Group to Focus on Distressed Properties

ORLANDO, FL - NAI Realvest has formed a Special Asset Services Group, a division of the firm that will focus on distressed commercial properties.

Patrick Mahoney, (top right photo) chief operating officer at NAI Realvest, said the group has already accepted six commercial property listings from area banks valued in excess of $10 million.

Mahoney said NAI Realvest’s Special Asset Services Group is working with banks and other lenders to negotiate the sale of land, development sites, unfinished condominiums under-performing commercial assets and similar properties.

The Special Asset Services Group includes Mahoney and NAI Realvest chairman emeritus George Livingston, (top left photo) managing partner Paul P. Partyka, (bottom right photo) and principals Kevin O’Connor, Christie Alexander, (bottom left photo) Tom Hankins and Ken Runge.

For more information, contact:

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

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

Exit Realty of Daytona Beach Reports Sales of Homes, Commercial Properties worth More than $9M Since Opening in February

DAYTONA BEACH, FL - Exit Realty of Daytona Beach reports it has sold homes and commercial properties worth more than $9 million since it opened its doors in late February.

Aswin Suri, (top right photo) owner of Exit Realty of Daytona Beach, said the largest single transaction during the month is the $3 million sale of the 105-unit Georgetown Lakes condo/apartment community on Big Tree Rd. in Port Orange.

EXIT Realty of Daytona Beach is also handling the property management and sales of individual units with a full service management team on site at Georgetown Lakes.

For more information, contact:
Aswin Suri, MHA, B.A., Owner Exit Realty of Daytona, 386-383-3000 (direct)

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

Cushman & Wakefield Negotiates Sale of Joint Venture Interest in Celebration Office Center III

ORLANDO, FL – May 21, 2009 – Cushman & Wakefield negotiated the sale of a joint venture
interest in Celebration Office Center III (top right photo) in Orlando, Florida.

This property will serve as the headquarters for Disney Vacation Development, part of the Parks and Resorts segment of the Walt Disney Company. The transaction closed on May 13, 2009.

The sale included interest in the three story, Class A, 100,924 square foot office building located
in Celebration Office Center III adjacent to the Walt Disney World campus.

Mr. Davis was quoted as saying, “Despite difficult market conditions, investors continue to find Central Florida an attractive market to acquire Real Estate.”

Executive Director, Mike Davis (middle left photo) (Capital Markets) and Associate Director, Rick Brugge, CCIM (bottom right photo)(Capital Markets) negotiated the sale on behalf of the seller, Duke Realty Corp.

The buyer was a joint venture between Duke and CB Richard Ellis Realty Trust.

Contact: Debbie P’Simer, 813-204-5333, debbie.p’simer@cushwake.com

Hampton Inn Fort Walton Beach Receives Designation as a Green Hotel by Florida

FORT WALTON BEACH, FL,- May 21, 2009 – The Hampton Inn Fort Walton Beach (top right photo announced today that the property received green lodging designation from the Florida Department of Environmental Protection on May 4, 2009.

Florida’s Green Lodging Program certifies hotels that adopt green practices to reduce waste and conserve natural resources.

The Hampton Inn Fort Walton Beach has implemented a variety of green initiatives including water conservation measures, energy efficiency, the use of green cleansers and high efficiency air filters, recycling, and other waste reduction methods.
“We adopted these eco-friendly practices because we are committed to preserving this beautiful coastal area so guests can enjoy it for years to come,” said General Manager Rachel Joyce. “By providing a quality stay, while improving our environment, we can ensure our guests are receiving the very best our property can offer.”

The entire staff supports the hotel’s green efforts by frequently meeting to exchange tips, helping guests dispose of recyclables properly, and sharing these green initiatives with guests. Some guests have even started recycling back home.

“Our beaches are some of the most magnificent in the world,” said Director of Sales Jeniffer Ward. “We want our guests to know how much we want them here, enjoying this beautiful area, while knowing that we are taking steps to protect the environment.”

The hotel will continue to work with the Florida Department of Environmental Protection to execute additional eco-friendly practices, including a towel reuse initiative, in the months to come.

The Hampton Inn Fort Walton Beach hotel is located directly on the white-sand beach along Florida’s Emerald Coast. (bottom left photo).

The newly renovated hotel features complimentary daily hot breakfast, local calls and wireless internet access. Other amenities include an outdoor heated pool, exercise room, and waterfront recreation.

For more information about the Hampton Inn Fort Walton Beach, visit http://www.ftwaltonbeach.hamptoninn.com/.

The Hampton Inn Fort Walton Beach is owned by RLJ Lodging Fund II, L.P., an affiliate of RLJ Development, LLC (http://www.rljhotels.com/), and operated by Interstate Hotels & Resorts (http://www.ihrco.com/), the nation’s largest independent hotel management company.

Contact: Jeniffer Ward, Director of Sales, Hampton Inn Fort Walton Beach, Phone: (850) 301-0906. Email: Jeniffer.Ward@ihrco.com

Arbor Closes $1.2M Fannie Mae DUS® Small Loan for Creekside Villas in Canyon Lake, TX

UNIONDALE, NY (May 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,200,000 loan under the Fannie Mae DUS® Small Loan product line for the refinance of the 20-unit complex known as Creekside Villas (top left photo) in Canyon Lake, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.80 percent.

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

“Creekside Villas is a new property in the greater San Antonio area,” said Porterfield.

“The property had leased up quickly and Arbor provided a loan to refinance the Borrower’s construction/mini-permanent loan.”

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

HFF secures $32M financing for GSA-leased office building in North Rockville, MD

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has advised The JBG Companies and Buvermo Properties Inc. in securing $32 million in financing for One Choke Cherry,(top left photo) a Class A office building fully-leased to the Government Services Administration in North Rockville, Maryland.

HFF senior managing directors Bob Donhauser (middle right photo) and Bill Asbill (middle left photo) and director Cary Abod (bottom right photo) advised JBG and Buvermo on various financing options for the acquisition.

The JBG Companies are comprised of a group of related entities engaged in the acquisition and development of office, multifamily, hotel and mixed-use projects.

Since 1978, Buvermo Properties has invested in office buildings, apartments, condos, retail, hotel, industrial and mixed-use properties in metropolitan Washington, D.C.

One Choke Cherry was completed in 2004 as a “build-to-suit” headquarters for the Department of Health and Human Services’ Substance Abuse and Mental Health Services Administration through a lease with the Government Services Administration (GSA).

The 228,020-square-foot building has an on-site fitness and aerobics center, a video conferencing room and a 790-space parking garage. One Choke Cherry is located along the Interstate 270 Corridor, 12 miles northwest of downtown Washington, D.C. in Rockville, Maryland.

“One Choke Cherry benefits from its location in ‘DNA Alley’, which is known for its high concentration of contractors to the federal government and innovative biotechnology companies,” said Asbill.

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. www.hfflp.com.

Contacts:

Robert F. Donhauser, HFF Senior Managing Director, (202) 533 2500, rdonhauser@hfflp.com

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

Arbor Closes $1,960,000 Fannie Mae DUS® Small Loan for 106 Wrentham Street in Boston, MA

UNIONDALE , NY (May 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,960,000 loan under the Fannie Mae DUS® Small Loan product line for the 16-unit complex known as 106 Wrentham Street in Boston, MA. (bottom left photo)

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.70 percent.

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

“Arbor continues to be a market leader in being able to deliver small balance loans with excellent financing terms in a timely manner,” Kelly said. “This transaction was for a repeat client who does an excellent job managing all of his assets.”

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

Subway Extends Lease in Sunrise, FL

SUNRISE, FL – Deerfield Beach-based Konover South, LLC, one of the Southeast’s premier retail developers, announced that Subway restaurant has extended its multi-year, 1,200-square-foot lease at Sunrise Plaza, Konover South’s retail center located at the intersection of West Sunrise Boulevard and NW 61st Avenue in Sunrise, FL.

Konover South Leasing Specialist Vivian Ricardo represented Konover South in the transaction.

Sunrise Plaza’s tenants include Walgreen’s, Burger King, American Ways Coin Laundry and Check Cashing Store, among others.


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

Thomas D. Wood & Co. Brokers $9.5M Loan for Miami's Galleria Mall

MIAMI, FL—May 20, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on May 8, 2009, in the amount of $9,500,000 for the Galleria Mall (top right photo) in Downtown Miami, Florida.

Thomas D. Wood, Jr., Company President, financed the Galleria Mall through Thomas D. Wood and Company’s relationship with a local banking institution.

The loan has a fixed interest rate of 6.75% and a five-year term, based on a 25-year amortization. Loan-to-value is 46%.

The three-story, 164,918 square-foot retail and office building is home to major tenant Marshalls, and is located at 251 East Flagler Street, Miami, Florida.

For further information, please contact:
Tom Wood, Jr., (305) 447-7820, tomjr@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com