Foreclosure News Report Named Best Newsletter for 2009 by National Association of Real Estate Editors

IRVINE, CA– RealtyTrac®, the leading online marketplace for foreclosure properties, announced that its monthly newsletter for real estate investors — Foreclosure News Report — was recently honored as Best Newsletter for 2009 by the National Association of Real Estate Editors during the group’s 59th Annual Journalism Awards in Washington, D.C.

“This newsletter zeroes in on its readers’ need to know insider information and statistics from around the country,” the judges noted in their comments.

“We are extremely grateful to have our publication recognized by our peers in the real estate media, alongside an impressive list of award winners that includes BusinessWeek, Bloomberg News, MarketWatch, and the Chicago Tribune, ” said RealtyTrac Senior Vice President Rick Sharga, (top right photo) publisher of Foreclosure News Report.

“In the two years since it was first launched, the publication has evolved into an industry leader that is read by some 40,000 real estate investors, professionals and market analysts across the country every month.”

“I particularly want to recognize Managing Editor Daren Blomquist, staff writers Joel Cone and Octavio Nuiry, and Art Director Scott Woolsey for their continuing dedication to making Foreclosure News Report the quality product it is today,” Sharga continued.

A record number of entries were submitted in this year’s NAREE journalism competition, vying for prizes totaling $10,000 awarded in 30 various categories. Winners were selected by a panel of experts from the E.W. Scripps School of Journalism at Ohio University chaired by Professor Patrick S. Washburn.

Visit http://www.foreclosurenewsreport.com/ for more information about the newsletter.




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


(http://www.realtytrac.com/gateway_co.asp?accnt=137300),

Marcus & Millichap Capital Corp. Arranges Loans in San Diego and Vista, CA

San Diego Retail Center Receives $3.91M Loan

SAN DIEGO, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $3.91 million fixed-rate loan to refinance Teirrasanta Gateway Shopping Center (top right photo) located at 5950 Santo Road in San Diego.

Chad O’Connor, a senior director in the firm’s San Diego office, arranged the financing package for the property.

Financing for this transaction was provided by commercial bank at a 6.62 percent fixed rate. Terms of the loan are for 15 years with a 30-year amortization schedule.

Vista, CA Apartment Complex Obtains $1.99M Loan

VISTA, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $1.99 million non-recourse loan for the acquisition of a 31-unit apartment building, Park Vista Apartments, (bottom left photo) located at 700 Alta Vista Road in Vista, Calif.

Chad O’Connor, a senior director in the firm’s San Diego office, arranged the financing package for Park Vista Apartments.
Financing for the Park Vista Apartments was provided by a commercial bank at a 6.19 percent fixed rate. Terms of the loan are for 10 years with a 30-year amortization schedule.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corp., (925) 953-1704

Wyndham Hotel Group Appoints Chief Technology Officer

PARSIPPANY, N.J. (July 23, 2009) – Wyndham Hotel Group, a business unit of Wyndham Worldwide Corporation (NYSE: WYN) and the world’s largest hotel company with approximately 7,000 hotels and 11 brands, has appointed Venky Rangachari (top right photo) as chief technology officer, responsible for the development and implementation of the company’s technology initiatives.

Rangachari will oversee the Hotel Group’s information technology department and will lead the overall strategic direction for the Hotel Group’s technology efforts, ensuring alignment of the company’s technology vision with its business strategy.

“Venky has extensive experience in hospitality and franchising, a combination that makes him an ideal addition to the Hotel Group’s leadership team,” said Robert Loewen, (bottom left photo) Wyndham Hotel Group executive vice president and chief financial officer. “

"As a global hospitality company that franchises and manages hotels in 66 countries, Wyndham Hotel Group requires an expert who is well-versed in implementing and managing initiatives in large, complex organizations.”

Most recently, Rangachari was chief information officer at StarCite, a global leader in meetings management solutions, where he developed technology strategy, reduced operating expenses by 20 percent and implemented a company-wide learning management system that helped prepare employees for the company’s next generation products.

CONTACT: Christine Da Silva, Director, Media Relations, Wyndham Hotel Group, 22 Sylvan Way, Parsippany, NJ 07054. PH 973-753-6590, christine.dasilva@wyndhamworldwide.com

Martin B. Jones Named Vice President, Food & Beverage for Starwood Hotels & Resorts Asia-Pacific

SINGAPORE, 24 July 2009 – Martin B. Jones (top right photo) has been named Vice President, Food & Beverage, for Starwood Hotels & Resorts, Asia Pacific Division. In this role, Martin will continue to set strategic directions and have overall responsibility for Food and Beverage for Starwood Hotels & Resorts in Asia Pacific.

“The announcement today is timely as it kicks off the launch of newly created food and beverage restaurant concepts for our nine leading lifestyle brands, which will transform the industry’s food and beverage experience," said Miguel Ko, (bottom left photo) Chairman & President Asia-Pacific, Starwood Hotels & Resorts Worldwide, Inc.

"Martin has led the Starwood food and beverage 'movement' in the last few years and comes with over 20 years of professional experience in the industry. His creativity, expertise and insightful vision will be key to our continuous success in this area as we position Starwood as a market leader in the Food & Beverage arena.

"Martin has been instrumental in leading a number of successful new food & beverage initiatives for Starwood Asia Pacific, including a series of new restaurant and bar concepts, Best Breakfast initiatives and various new food & beverage programmes.

He has also been involved in the design and development of many of the restaurants and bars presently under construction and was also the recipient of the Starwood Business Excellence Award for “Most Creative Innovator”.

Martin has 25 years of professional work experience in the hospitality industry. He joined Starwood since 1999, when he started as Director of Operations, Food and Beverage with The Westin Stamford & Westin Plaza Hotels in Singapore, before becoming General Manager of the W Seoul in Korea in 2002 and then subsequently General Manager of the Westin Kuala Lumpur.

Contact:

Hwee-Peng Yeo
Tel : +65 6335 4837; Cell : +65 9768 6087; +65 9248 0424
Fax : +65 6335 4820
http://www.starwoodhotels.com/; http://www.starwoodpressclub.com/

Holiday Inn Relaunches 1000th Hotel

New Holiday Inn Express(R) in Times Square, New York, opens as part of the biggest relaunch in hospitality history

NEW YORK, July 24, 2009 /PRNewswire-FirstCall/ -- IHG (InterContinental Hotels Group) [LON: IHG, NYSE: IHG (ADRs)], the world's largest hotel company, today announced the opening of its 1000th relaunched Holiday Inn hotel - the Holiday Inn Express New York City Times Square. (middle left photo)

The $1 billion relaunch of Holiday Inn is the largest in the history of the hospitality industry, with more than 3,200 hotels around the world being updated - improving quality and driving consistency at Holiday Inn and Holiday Inn Express hotels from Boston to Beijing.

In addition to the 3,200 open hotels, there are another 1,050 in the development pipeline, due to open with the relaunched branding in the next three to four years.

The relaunch program, combined with new openings and continued removal of lower quality hotels, will completely rejuvenate the Holiday Inn estate over the next few years.

Andy Cosslett, (top right photo) IHG's CEO, said, "The opening of our 1000th relaunched Holiday Inn hotel is the latest milestone on our three year journey and demonstrates the momentum behind the program.

"Despite the tough economic climate, we've relaunched, on average, four hotels a day for the past six months, and we're committed to completing the global relaunch by the end of 2010.

"Relaunched hotels are benefiting from improved guest satisfaction and an average RevPAR (revenue per available room) outperformance of more than 5%.

"And the feedback we're getting from our guests and hotel owners tells us it's the right time to be doing this.

"The economic environment has changed since we started the program, but this is a once in a lifetime opportunity to show people that the Holiday Inn they came to know and love over the last 50 years is still a hotel that's right for them today."

"The Holiday Inn Express New York City Times Square represents the substantial changes we are making to improve the experience our guests have at each of our hotels around the world," said Kevin Kowalski, senior vice president, Global Brand Management, Holiday Inn Brands.

"As a key market for the brand, New York City is the perfect backdrop for this global milestone in the Holiday Inn brand relaunch and further strengthens our position in the industry."

On average, 26 million people a year visit New York's Times Square, and the 210-room Holiday Inn Express New York City Times Square is surrounded by the city's biggest tourist attractions including Broadway, Rockefeller Center and the Empire State Building.

The hotel is located at 343 West 39th Street between 8th and 9th Avenues in midtown Manhattan, with LaGuardia (LGA) and JFK International (JFK) both less than 30 minutes away.

To make a reservation, please call 1-800-HOLIDAY or visit http://www.holidayinn.com/.

The Holiday Inn Express New York City Times Square is owned by M&R Hotel, LLC, and managed by Hersha Hospitality, under a license agreement with a company in the InterContinental Hotels Group.

CONTACTS:

Sarah-Ann Soffer, Holiday Inn, +1-770-604-2707, Sarahann.soffer@ihg.com,

Andrew Bard, Weber Shandwick, +1-212-445-8368, abard@webershandwick.com

Web Site: http://www.holidayinn.com/

Post Properties Completes Sales of Post Ridge® in Atlanta, GA and Post Forest® in Fairfax, VA

Net Proceeds of Approximately $100M Used to Repay Line of Credit and to Add to Cash Balances

ATLANTA--(BUSINESS WIRE)--Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, announced today the sale of its Post Ridge® apartment community located in Atlanta, GA for a gross sales price of $44.8 million.

Post Ridge® (top left photo) is a garden-style apartment community, consisting of 434 units, and was completed in 1998.

The buyer was an entity affiliated with Centennial Holding Company, LLC of Atlanta, GA. CB Richard Ellis, Inc. brokered the transaction.

The Company also announced on Monday that it recently closed the sale of its Post Forest® (bottom right photo) apartment community located in Fairfax, VA for a gross sales price of $57.5 million. Post Forest® is a garden-style apartment community, consisting of 364 units, and was completed in 1990.

The buyer was an entity affiliated with Pantzer Properties, Inc. of New York, NY. Holliday Fenoglio Fowler, L.P. brokered the transaction.

The Company expects to report net gains of approximately $54 million in the third quarter relating to these two sales.

Said David P. Stockert, (top right photo) CEO and President of Post, “Completing these two sales in a difficult transaction environment reflects the quality of the assets and the strength of the Post® brand.

"Net proceeds will be used to bolster our balance sheet and our cash balances, enhancing the Company’s financial strength and flexibility through the current economic cycle.”

Post Properties owns 19,864 apartment units in 55 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 1,736 apartment units in five communities currently under construction and/or in lease-up.

The Company is also developing and selling 362 for-sale condominium homes in three communities (including 129 units in one community held in an unconsolidated entity) and is converting apartment units in two communities initially consisting of 349 units into for-sale condominium homes through a taxable REIT subsidiary.

Contacts
Post Properties, Inc., Dave Stockert, 404-846-5000

Chatham Financial Launches OTC Derivatives Website to Support Informed Legislation Changes

KENNETT SQUARE, , PA, July 23, 2009 – Chatham Financial, the largest independent interest rate and currency risk management consultant, announced today that it has launched http://www.hedgingworks.com/ as a service to clients and business end users of OTC derivatives as part of an overall initiative to build awareness and better understanding of OTC derivatives legislative developments and their implications for business users.

“We support the four objectives for legislative reform that were identified by Treasury Secretary Timothy Geithner, (bottom right photo) but the ramifications for many business users of currently proposed legislation could be profound," says Mike Bontrager, (top left photo) founder and CEO, Chatham Financial.



"Many users are only beginning to understand the implications and costs. One-size-fits all legislation is risky. If new legislation doesn’t recognize the differences between users, the responsible businesses which use OTC derivatives to mitigate everyday interest rate, foreign currency and commodity risk may be burdened with significant incremental costs.

"In addition there could be major complications with current trades, challenges with accounting hedge effectiveness, and a lack of liquidity in products that could make responsible hedging very expensive or impossible."


For further information, contact:
Joy Peterson, 720.249.3606, jpeterson@chathamfinancial.com

Sperry Van Ness/Guardian Announces Marketmaker Real Estate Auction for the Northwest on Sept. 30

Los Angeles, CA July 23, 2009 – Los Angeles-based Sperry Van Ness/Guardian and MarketMaker™, have announced a regional commercial property auction for the Northwest to be held September 30.

This announcement resulted from a surge in potential listings from investors and banks just weeks after they jointly launched the MarketMaker West Coast Auction being held in Los Angeles on July 30.

To accelerate sales and create transparency for buyers and sellers of commercial and bulk residential properties, Sperry Van Ness/Guardian has partnered with MarketMaker™, a new distressed real estate liquidation platform. Auction information can be found at http://www.svnnmarketmaker.com/.

“In the three weeks since announcing the Los Angeles auction we have already sold and closed five of our listed properties with several more sales pending,” said Karlin Conklin, (top right photo) Chief Operating Officer of Sperry Van Ness/Guardian.

“We’ve also been flooded with new auction listings from motivated sellers, while buyer interest has been growing exponentially with our website receiving thousands of hits per day. The Northwest demand from sellers was so strong we decided to schedule an auction specifically for that area.”


Contact: David Ebeling, Ebeling Communications, (949) 278-7851, david@ebelingcomm.com

Arbor Closes $4M Fannie Mae DUS® Small Loan for Green Realty Apartments in Quincy, MA

Uniondale, NY (July 23, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,000,000 loan under the Fannie Mae DUS® Small Loan product line for the 54-unit complex known as Green Realty Apartments in Quincy, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

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

“This transaction represents our flexibility in providing a single mortgage across assets scattered within the same market,” said Kelly. “Our client has owned the properties for 20-plus years and has done an excellent job of maintaining a strong tenant base, including some long-term commercial tenants.”

Contact: Ingrid Principe, iprincipe@arbor.com

HFF arranges $6.5M Loan for Massachusetts retail center

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $6.5 million refinancing of Pittsfield Plaza, (top right photo) a 126,000-square-foot retail center in Pittsfield, Massachusetts.

HFF senior managing director Al Epstein (bottom left photo) worked on behalf of the borrower, Phoenix Merrill Road LLC, to secure the 10-year, 6.35% fixed-rate loan through a regional bank.

The transaction involved the repayment of an existing mortgage loan, which had become due.

Located at 676 Merrill Road in Pittsfield, Pittsfield Plaza is situated within a regional retail hub for Berkshire County that includes approximately 800,000 square feet of retail space along State Routes 8 and 9.

The property is occupied by tenants including Petco, TJ Maxx, Radio Shack, Hollywood Video, Dollar Tree and Home Goods. Nearby retailers include Wal-Mart, Home Depot, Price Chopper, Dick’s Sporting Goods, Sam’s Club, Bed Bath and Beyond and Barnes and Noble..

“This is an attractive mortgage investment, in a well-established retail area, which has had a long, successful leasing history. The property has strong sponsorship and experienced management,” said Epstein.

Contacts:

Alvin J. Epstein, HFF Senior Managing Director, (212) 245-2425, aepstein@hfflp.com

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

Glimcher Reports Second Quarter 2009 Results

COLUMBUS, OH, July 22 /PRNewswire-FirstCall/ -- Glimcher Realty Trust (NYSE:GRT) today announced financial results for the second quarter ended June 30, 2009.

A description and reconciliation of non-GAAP financial measures to GAAP financial measures is contained in a later section of this press release.

References to per share amounts are based on diluted common shares. Net loss to common shareholders during the second quarter of 2009 was $1.3 million, or $0.03 per share, as compared to net income of $1.3 million, or $0.03 per share, in the second quarter of 2008.

Funds From Operations ("FFO") during the second quarter of 2009 was $18.1 million compared to $20.5 million in the second quarter of 2008. On a per share basis, FFO during the second quarter of 2009 was $0.44 per share compared to $0.50 per share for the second quarter of 2008

."We continue to navigate through this difficult economic environment with an experienced team and a sharp focus on execution of our business plan," stated Michael P. Glimcher (top right photo), Chairman of the Board and CEO. "We have been encouraged by the relative stability of our core mall portfolio and believe it is well positioned for growth as the economy recovers."

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



Mark E. Yale, Executive V.P., CFO, +1-614-887-5610, myale@glimcher.com,
Lisa A. Indest, V.P., Finance and Accounting, +1-614-887-5844, lindest@glimcher.com
Web Site: http://www.glimcher.com/

CORE Construction Florida to Build 134,000-SF Student Housing Facility at Florida Memorial University in South Florida

SARASOTA, FL - CORE Construction Florida was recently awarded a contract to build a 134,000 square foot, student housing facility at Florida Memorial University,(top right photo) located north of Opa-Locka Airport in Miami Gardens.

John Wiseman, (bottom left photo) president of CORE Construction Florida, said the facility will start construction in August at an estimated cost of $14 million.

Wiseman said CORE Construction Florida was engaged to work with architects and engineers during the project’s design stage to streamline construction processes and reduce cost. The collaboration resulted in cost savings estimated at more than $3 million, Wiseman said.

CORE Construction has been in business since 1937 and ranks as one of the nation’s largest commercial contracting companies. CORE Construction is also active in Illinois, Nevada, Arizona and Texas. CORE Construction Services Southeast, Inc. has offices in Sarasota, Naples and Orlando.

For more information. contact:

John P. Wiseman, President, CORE Construction, 6320 Tower Lane, Sarasota, FL 34240

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

Washington, DC Office Market Bucking National Trends

WASHINGTON, D.C., July 22, 2009 — Although the recession is weighing on the Washington, D.C., employment base and office market, both have endured economic stresses better than expected, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Indeed, the year-to-date reduction in employment has not been as detrimental to the metro’s office market, as most of the losses are in blue-collar industries.

“Tight lending markets, fewer institutional buyers and fears of a deepening recession have all contributed to tepid office investment activity in the Washington, D.C., metro,” says Ramon Kochavi (top right photo), regional manager of the Washington, D.C. office of Marcus & Millichap.

Following are some of the most significant aspects of the Washington, D.C. Office Research Report:

· With work force reductions projected to peak in the second and third quarters, local employers will cut 25,200 positions, or 1 percent, from payrolls in 2009, following the elimination of 1,700 jobs last year. Roughly 4,300 office-using personnel will be let go this year, a 0.6 percent decline.

· After inventory expanded by 7.5 million square feet in 2008, construction output will fall to 6.5 million square feet this year, in line with the five-year average.

· Continued losses in office-using employment sectors will underpin a 220 basis point rise in vacancy in 2009 to 13.7 percent. Last year, vacancy increased 240 basis points.

· Metrowide asking rents are projected to decline 2.1 percent to $35.66 per square foot this year, while effective rents will recede 2.7 percent to $30.64 per square foot. In 2008, asking and effective rents gained 3.3 percent and 1.0 percent, respectively.

For a copy of the complete Washington, D.C. Office Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

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

Arbor Closes $3,775,000 Fannie Mae DUS ® Small Loan for Woodpark Apartments in Seattle, WA

Uniondale, NY (July 22, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,775,000 loan under the Fannie Mae DUS® Small Loan product line for the 43-unit complex known as Woodpark Apartments (top left photo) in Seattle, WA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.86 percent.

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

“The borrower was seeking a low rate for a 10-year fixed-rate term along with maximum leverage,” said Red. “Arbor was able to capitalize on a drop in rates and increase loan proceeds to $3,775,000, a $125,000 increase over the loan amount in the application.”

Contact: Ingrid Principe, iprincipe@arbor.com

CBRE Multi-Housing Market in metro Orlando Continues to Struggle

ORLANDO, FL--CB Richard Ellis has issued its mid-year report on the metro Orlando multi-housing market. Highlights include:

The Orlando Multi-Housing Market has continued to struggle through mid year, but may be lining up for one of the nation’s strongest recoveries over the next four years.

In the short term, local job loss and the challenged national economy have led to further weakness in the market.

Physical occupancy through June in the MSA stood at about 90%, down slightly from 91.9% at the end of 2008. Concessions remain prevalent, and most properties are offering about one month free.

Average rents through the 2nd Qtr were at $803 according to M/PF and Torto Wheaton Research, and are forecast to remain relatively flat through the balance of 2009.

The worst of the market seems to be behind us however, and M/PF Torto Wheaton projects that jobs and apartment rents will begin an upward climb in Orlando in 2010.

Favorable supply/demand balances and strong job formation over the next five years have Orlando poised for strong growth.

The Education & Health and Professional & Business Service sectors are predicted to see the highest average annual growth through 2014, with 2.5% and 2.8% annual increases respectively.

Overall, the MSA is projected to add 159,000 new jobs from 2010 –2014, with occupancy predicted to reach 97.1% at the end of that period.

Rents are also forecast to grow more than 4% each year from 2012to 2014, and will average $933 according to M/PF Torto Wheaton’s Summer 2009 Report.

For a complete copy of the report and related charts, please contact:

Shelton D. Granade, Jr., First Vice President (top right photo)
CB Richard Ellis Investment Properties - Multihousing
189 S. Orange Avenue, Suite 1900 Orlando, FL 32801. T 407 839 3103. F 407 404 5001
shelton.granade@cbre.com

http://www.cbre.com/shelton.granade