HFF arranges $72M financing for London properties on behalf of TJAC International

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged $72 million in financing on behalf of TJAC International for two multifamily properties in London, England.

Working on behalf of the borrower, HFF director Anthony Cutone (top left photo) placed the loan through CTL Capital, LLC.

Proceeds are being used to acquire and renovate the properties for residential use. Andrew Mann, a managing partner at The Triad Group, represented the buyer, TJAC International, in the sale.

The two properties are located in the Bloomsbury area of central London (middle right photo) close to two London Underground stations and numerous hospitals and academic institutions.

Byron Court, located at 24-36 Mecklenburgh Square, is a five-story 53-unit building and 74-76 Guilford Street will have 19 residential flats post renovation.

The Triad Group, who exclusively represented TJAC International, was initially started by the late Richard Sternberg in 1985 and grew into one of the nation’s most respected retail real estate firms.

Now in 2009 under the leadership of Michael Sternberg and Andy Mann, The Triad Group has re-emerged and is poised to take its place among industry leaders; now with a global reach.

A full-service real estate firm with experience worldwide, The Triad Group offers clients a complete scope of services from landlord and tenant representation to construction and the long-term management of assets.

Recent transactions range from Boston-based retail and office leases to international buyer representation with projects throughout Europe, the United Kingdom and Australia.

The Triad Group differentiates itself from competition by offering a truly one stop shop for all real estate needs.

TJAC International is an international real estate development company focused on residential and retail properties. TJAC has successfully completed more than one billion dollars worth of projects to date.

Contacts:

Anthony Cutone, HFF Director, (617) 338-0990, acutone@hfflp.com

Andrew Mann, The Triad Group Managing Partner, (617) 739-0009, amann@thetriadgroup.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-350, krmurphy@hfflp.com

Brookfield Properties Prices $900M Common Share Offering

NEW YORK, NY (Business Wire)--Brookfield Properties Corporation (BPO: NYSE, TSX) today announced that it has entered into agreements for the sale of 95 million of its common shares at a price of $9.50 per share.

Pursuant to an underwriting agreement with a syndicate of underwriters comprised of RBC Capital Markets, Citi, Deutsche Bank Securities and TD Securities acting as joint book-running managers, the underwriters have agreed to purchase 47.5 million common shares of Brookfield Properties at a price of $9.50 per share.

Concurrently, Brookfield Asset Management Inc. (BAM: NYSE, TSX) has agreed to purchase, directly or indirectly, 47.5 million common shares of Brookfield Properties at a price of $9.50 per share.

The gross proceeds to Brookfield Properties from the combined share issuances are expected to total $902.5 million. Closing is expected to occur on or about August 21, 2009.

Brookfield Properties has agreed to grant the underwriters an over-allotment option, exercisable at any time until 30 days following the closing of the offering, in whole or in part, to purchase up to an additional 7.125 million shares at a price of $9.50 per share.

If the over-allotment option is exercised, Brookfield Asset Management has agreed to purchase, directly or indirectly, the same number of shares on a pro rata basis, up to 7.125 million shares, based on the number of the over-allotment shares purchased by the underwriters.

If the entire over-allotment option is exercised, the gross proceeds to Brookfield Properties are expected to total approximately $1 billion.

Following the offering, Brookfield Asset Management will continue to own, directly and indirectly, an approximate 51% voting interest in Brookfield Properties.

The proceeds from this offering will be used for general corporate purposes, including without limitation, the refinancing of indebtedness and investment purposes.

A written prospectus relating to the offering may be obtained from RBC Capital Markets in Canada, Attention: Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario M5V 2X4 (fax: 416-313-6066); or in the U.S. from RBC Capital Markets Corporation, Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098 (fax: 212-428-6260).

The form F-10 registration statement relating to the common shares has not yet become effective. The common shares to be issued under this offering may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective.

Similarly, these common shares may not be sold in Canada until a receipt for a final prospectus is obtained. This news release shall not constitute an offer to sell or the solicitation for an offer to buy, nor shall there be any sale of the common shares in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

Brookfield Properties owns, develops and manages premier office properties.

Its current portfolio is comprised of interests in 108 properties totaling 75 million square feet in the downtown cores of New York, Boston, Washington, D.C., Los Angeles, Houston, Toronto, Calgary and Ottawa, making it one of the largest owners of commercial real estate in North America.

Landmark assets include the World Financial Center in Manhattan, Brookfield Place in Toronto, Bank of America Plaza in Los Angeles and Bankers Hall in Calgary. The company’s common shares trade on the NYSE and TSX under the symbol BPO.

Contact: Melissa Coley, Vice President, Investor Relations and Communications, Tel: 212.417.7215. Email: melissa.coley@brookfieldproperties.com

CB Richard Ellis Ranked No. 1 Property Manager for Sixth Consecutive Year

ORLANDO, FL – For the sixth year in a row National Real Estate Investor, the leading magazine for professional real estate investors, has ranked CB Richard Ellis No. 1 out of the world's top 25 property managers. The ranking, featured in the publication's July/August issue, is based on the total amount of space under management globally as of December 31, 2008.

CB Richard Ellis was responsible for the management of 2.2 billion sq. ft. of property and corporate facilities at end of 2008. That total was nearly twice the amount of the total space managed by the nearest competitor.

"As property owners confront the challenges of today's difficult economic environment, they trust CB Richard Ellis to deliver best-in-class management of their real estate needs," said CB Richard Ellis' Bill Moss, (top right photo) Senior Managing Director.

"In Central Florida and around the world, our clients know that the industry's best professionals and strongest global platform will help them to effectively manage their real estate assets."

Earlier this year the U.S. Environmental Protection Agency (U.S. EPA) named CB Richard Ellis an ENERGY STAR® Partner of the Year, the only commercial real estate services firm recognized with that award this year, and the second year in a row that the Company has received that honor.

More than 1,200 CBRE-managed buildings are participating in the program, significantly more than any other third party management company.

Contact: Angelique Greven, 407.839.3158, angelique.greven@cbre.com

Regency Centers Announces Tender Offer for Four Series of Notes

JACKSONVILLE, FL-(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) announced that its operating partnership, Regency Centers, L.P., has commenced a cash tender offer (the "Tender Offer") for any and all of its notes (the "Notes") set forth below.

The aggregate principal amount outstanding of Notes subject to the Tender Offer is $400,000,000. Regency Centers, L.P. expects to purchase the Notes utilizing available cash and borrowings under existing lines of credit.

Aggregate Principal CUSIP Security Description Amount Outstanding Purchase Price((1))

75884R AF 0 8.45% Notes due September $150,000,000 $1,035
1, 2010
75884R AG 8 8.00% Notes due December $10,000,000 $1,035
15, 2010
75884R AH 6 7.95% Notes due January $220,000,000 $1,035
15, 2011
75884R AJ 2 7.25% Notes due December $20,000,000 $1,035
12, 2011
(1) Per $1,000 principal amount of Notes accepted for purchase.

The Tender Offer will expire at 5:00 p.m., New York City time, on Monday, August 17, 2009, unless extended or earlier terminated by Regency Centers, L.P. (the "Expiration Time").

Under certain circumstances described in the Offer to Purchase referred to below, Regency Centers, L.P. may terminate the Tender Offer before the Expiration Time. Any tendered Notes may be withdrawn prior to, but not after, the Expiration Time and withdrawn Notes may be re-tendered by a holder at any time prior to the Expiration Time.

The consideration payable for the Notes will be $1,035 per $1,000 principal amount of Notes, plus accrued and unpaid interest to, but not including, the payment date for the Notes purchased in the Tender Offer. The payment date for Notes purchased in the Tender Offer is expected to be the next business day following the Expiration Time.

The complete terms and conditions of the Tender Offer are set forth in the Offer to Purchase dated August 10, 2009 (the "Offer to Purchase") and the related Letter of Transmittal (the "Letter of Transmittal") that are being sent to holders of the Notes.

Holders are urged to read the Tender Offer documents carefully before making any decision with respect to the Tender Offer. Copies of the Offer to Purchase and Letter of Transmittal may be obtained from D.F. King & Co., Inc., the Information Agent for the Tender Offer, at (800) 859-8508 (toll-free).

Wells Fargo Securities and J.P. Morgan are the Dealer Managers for the Tender Offer. Questions regarding the Tender Offer may be directed to Wells Fargo Securities at (866) 309-6316 (toll-free) or (704) 715-8341 (collect) or J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-3118 (collect).

Contact: Lisa Palmer, 904-598-7636, http://www.regencycenters.com/

Arbor Closes $1M Fannie Mae DUS® Loan for Bornt Hill Apartments in Endicott, NY

Uniondale, NY (Aug. 12, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,000,000 loan under the Fannie Mae DUS® Loan product line for the 30-unit property known as the Bornt Hill Apartments (top left photo) in Endicott, NY.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.

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

“The sponsor’s goals included locking in a low, long-term fixed-rate loan and use some of the proceeds toward another multifamily purchase,” said York.

“Arbor was pleased to help him reach this goal on our second transaction together and look forward to future opportunities.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
Follow us on Twitter @ arbor1

Marietta, GA Apartments Offered at $21M

ATLANTA, GA--Engler Financial Group, LLC is proud to present Wood Hollow, (top right photo) a 312 unit garden-style apartment community located off the west side of Powers Ferry Road, approximately one-quarter mile north of Windy Hill Road and one-quarter mile south of Terrell Mill Road, in Marietta, Cobb County, Georgia.

Wood Hollow is offered for sale for $21,000,000 and represents an excellent opportunity to purchase a well located class “B+" apartment community with significant “value-add renovation” potential.

Wood Hollow has undergone over $2.3 million in capital upgrades over the last five years.

In addition, further upside rent potential exists through continued renovation of the property's unit interiors.

Wood Hollow is being offered debt free and represents an excellent investment opportunity with a projected cash-on-cash yield in the mid teens based on year 1 proforma.


For complete property details, please contact:


Greg EnglerCEO/President, 678/992-2000, ext. 1, gengler@efgus.com
Pat Jones, Senior Vice President, 678/992-2000, ext. 2, pjones@efgus.com
Kris Mikkelsen, Senior Associate, 678/992-2000, ext. 4, kmikkelsen@efgus.com

Marcus & Millichap Closes Sales in California and Colorado

$16 MILLION MANUFACTURED HOUSING COMMUNITY SOLD IN RAMONA, CA

RAMONA, CA. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Ramona Terrace Estates, (top right photo) a 218-space, five-star, seniors manufactured housing community in Ramona.

The sales price of $16,014,000 represents a price per space of $73,459 and a 6 percent cap rate.

Jonathan Harrison, a vice president investments in the San Diego office and a senior director of the firm’s National Manufactured Home Communities Group, represented the buyer, Ramona Terrace Community LLC of Tucson, Ariz. The seller was represented by All California Brokerage of Huntington Beach, Calif.

“Communities of this size and quality rarely become available in Southern California,” says Harrison.

“Quality manufactured housing communities can still be financed at attractive interest rates, and continue to command premium prices from buyers seeking safe and stable investments.

"The investor sees this as his first of many California manufactured housing community acquisitions.”

Located at 1212 H St., the property is comprised of 218 doublewide manufactured home sites on 26.79 acres with many amenities.

Ramona Terrace Estates is 100 percent occupied and well maintained with all city services. The new owner plans to continue to operate the property as a seniors manufactured housing community.

The buyer obtained a new loan with a 60 percent loan-to-value ratio at 6.1 percent interest and closed the transaction in 120 days. Ramona is located in the Santa Maria Valley 36 miles northeast of San Diego.

$11.8 MILLION MULTI-FAMILY COMMUNITY SOLD IN COLORADO

ARVADA, Co–Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has successfully brokered the sale of Apple Creek Apartments, (bottom left photo) a 219-unit, 144,029-square foot multi-family apartment community in Arvada.

The sales price of $11.8 million represents $53,881 per unit and $82 per square foot.

David Potarf, a first vice president investments, Daniel Woodward, a vice president investments, Jordan Robbins, a multi-family investment specialist, and Charles “Chico” LeClaire, senior vice president investments, all in the firm’s Denver office, represented the seller, Apple Creek Housing Associates LTD/Apple Creek 24 LTD and the buyer, Foothills Apartments Denver LP.

“Apple Creek Apartments is the largest 1980s-built property and the second-largest property sale by number of units to trade in the Denver metro area so far this year,” says Robbins.

“The property was sold by the original developer and was in excellent condition with little or no deferred maintenance. The units are located within a rapidly improving market with high barriers to entry and very limited new construction.”

Located at 9750 West 59th Ave. near the intersection of West 59th Place and Ralston Road, the property is within a short commute of downtown Denver, Boulder and Interlocken Business Park.

Built in 1987, Apple Creek Apartments is comprised of 19 three-story buildings with wood siding exteriors and pitched composite-shingle roofs.

The unit mix consists of studios and one- and two-bedroom apartments. Amenities include a heated swimming pool, laundry facilities and barbecue areas. Individual units have air conditioning, fireplaces, private balconies or patios, storage rooms, washers and dryers and walk-in closets.

Select units are enhanced by vaulted ceilings and ceiling fans. All units have cable television and Internet capabilities. Individual units also offer fully appointed kitchens with dishwashers, garbage disposals and frost-free refrigerators.

Arvada is a first-ring suburb of Denver with an estimated population of 106,327.

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

$139M financing for four-property retail portfolio in Virginia arranged by HFF

WASHINGTON, D.C. – The Washington, D.C. and Boston offices of HFF (Holliday Fenoglio Fowler, L.P.) announced that they have arranged $139 million in financing for a four-property retail portfolio in Virginia.

HFF senior managing director Todd Stressenger, (top right photo) managing director Mark Remington (top left photo) and director Coleman Benedict (bottom right photo) worked exclusively on behalf of the borrower, Federal Realty Investment Trust.

Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, Inc., provided the five-year, fixed-rate loan for the portfolio, which was previously unencumbered with debt. The transaction closed in early June.

“HFF obtained a $139 million loan from Prudential Mortgage Capital Company, a strong achievement in this challenging credit environment,” said Remington.

The portfolio totals 867,404 square feet. Individual property details are listed below:

Idylwood Plaza, 73,382 Square Feet, built 1991, Whole Foods,
Falls Church, VA

Leesburg Plaza , 235,528 Square Feet, 1967/2007, Giant,
Leesburg, VA

Loehmann’s Plaza , 261,894 Square Feet, 1971/2007, Giant, Falls Church, VA

Pentagon Row, 296,600 Square Feet, 2001-2002, Harris Teeter,
Arlington, VA

Federal Realty Investment Trust is a publicly-traded real estate investment trust that has a current portfolio of 83 retail assets totaling 18.1 million square feet.

Contacts:

Todd S. Stressenger, Senior Managing Director, (617) 338-0990, tstressenger@hfflp.com

Mark T. Remington, HFF Managing Director, (202) 533-2500, mremington@hfflp.com

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

Arbor Closes $1.87M Fannie Mae DUS® Small Loan for Purdue Apartments in Baltimore, MD

Uniondale, NY (August 10, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,870,000 loan under the Fannie Mae DUS® Loan product line for the 42-unit property known as the Purdue Apartments (bottom left photo) in Baltimore, MD.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.55 percent.

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

“The sponsors purchased this property in distress and significantly improved its operations over the course of 15 months,” said York.

“When the property was ready for permanent financing, Arbor was pleased to deliver competitive terms, which included sizable cash out.”

Contact:

Ingrid Principe, Marketing, Arbor Commercial Mortgage,
333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553
P: 516.506.4298. F: 516.542.2555
http://www.arbor.com/
Follow us on Twitter @ arbor1

Indiana student housing community refinanced

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a refinancing for Campus Habitat 5 Apartments, (top right photo) a 53-unit student housing community on the campus of Vincennes University in Vincennes, Indiana.

Working on behalf of Campus Habitat, HFF associate director David Ross placed the 10-year, adjustable-rate loan with First Financial Corporation.

Based in New York City, Campus Habitat acquires, renovates and manages student housing communities throughout the United States.
Campus Habitat 5 Apartments is located at 201 West Saint Clair Place on 1.6 acres within the Vincennes University campus in southwestern Indiana. The fully-leased property has five buildings with 47 two-bedroom units and six six-bedroom townhomes averaging 719 square feet each.

“Campus Habitat 5 Apartments underwent extensive renovations in August 2008 including upgrading unit interiors, exteriors and common areas to provide the many modern amenities desired by students today,” said Ross. “This financing allows Campus Habitat to recognize the value created following their acquisition and repositioning of the asset.”


Contacts:
J. David Ross, HFF Associate Director, (317) 630 3191, dross@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500,krmurphy@hfflp.com

HFF closes sale of Crossroads Mall in San Antonio, TX

HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today they have closed the sale of Crossroads Mall, (top left photo) a 742,000-square-foot mall in San Antonio, Texas.

HFF senior managing directors Rusty Tamlyn (middle right photo) and Doug Hazelbaker (bottom left photo) led the investment sales team on behalf of the seller, an affiliate of Trammell Crow Company.

A group of San Antonio and Houston investors purchased Crossroads Mall for an undisclosed price.

Crossroads Mall is located on a 36.5-acre site at 4522 Fredericksburg Road close to the Interstate 10 and 410 interchange in northwest San Antonio.

Originally built in 1961, the property is undergoing a remarketing and rebranding effort by the new buyer group.

Current anchor tenants include Burlington Coat Factory, Hobby Lobby, Stein Mart and Jo-Ann Fabrics.

Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in real estate.

It has developed or acquired over 500 million square feet of buildings with a value exceeding $50 billion. As of March 31, 2009, Trammell Crow Company had over $6.9 billion of projects in process or in its pipeline.

Contacts:

Rusty Tamlyn, Senior Managing Director, (713) 852-3500, rtamlyn@hfflp.com

Doug Hazelbaker, Senior Managing Director, (214) 265-0880, dhazelbaker@hfflp.com

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

HFF secures $47M financing for New York regional shopping center

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $47 million in financing for Cortlandt Towne Center, (top left photo) a 640,000-square-foot, regional shopping center in northwestern Westchester County, New York.

Working exclusively on behalf of Acadia Realty Trust, HFF senior managing director Mike Tepedino (middle right photo) and director Steven Klein (bottom left photo) arranged the three-year, adjustable-rate loan with Bank of America.
Cortlandt Towne Center is located at 3131 East Main Street located on U.S. Route 6 in Mohegan Lake in Westchester County, New York. The property’s major tenants include Wal-Mart, A&P Food Market, Barnes & Noble, Best Buy and PetSmart.

The site is shadow-anchored by a 133,243-square-foot Home Depot.

“Being the dominant shopping center with limited competition of critical mass in northwestern Westchester County made this asset attractive to investors,” said Tepedino.

Acacia Realty Trust currently owns, or has ownership interests in, and operates 77 properties totaling in excess of 10 million square feet located primarily in the Northeast, Mid-Atlantic and Midwest United States.

Contacts:

MICHAEL J. TEPEDINO, HFF Senior Managing Director , (212) 245-2425

mtepedino@hfflp.com

STEVEN J. KLEIN, HFF Director, (212) 632-1838, sklein@hfflp.com

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

Leading Real Estate Brokerage Firms -- CB Richard Ellis, Cushman & Wakefield, Voit Commercial Brokerage and Collins Commercial – Adopt Online Auction

MARINA DEL REY, CA.--(Business Wire) With a vast number of distressed commercial properties hitting the market, auctions are increasingly becoming a proven method of bringing buyers and sellers together to determine market price.

The flaw, however, with the traditional auction model is that it excludes or limits participation by the broker – the one party that best understands the local real estate market and buyer pool.

Because of this, CB Richard Ellis, Cushman & Wakefield, Voit Commercial Brokerage and Collins Commercial have selected AuctionPoint.com, a new online broker-centric auction platform, to sell commercial properties in Southern California.

Using the AuctionPoint platform, these brokerage firms have created unique online auction sites – each site dedicated to a specific property auction – which will open for bidder registration on August 10 with auctions taking place in September.

“It’s been frustrating trying to bring buyers and sellers together in this market, and while I believe in the value of the auction model, I haven’t been able to utilize existing auction platforms until now because they disengage the broker,” says Gary Stache, (top right photo) Executive Vice President of CB Richard Ellis.

“We chose AuctionPoint because it gives the broker – the market expert – control over the entire auction process, including marketing the auction to the right pool of buyers.

"For commercial real estate, holding the auction online instead of in a hotel ballroom makes perfect sense, and we believe that AuctionPoint’s technology will be the next wave solution for sellers of distressed properties.”

“AuctionPoint will change the way the commercial real estate industry does business," says Joseph Tang, (middle right photo) co-founder of AuctionPoint.

'This technology solution was developed specifically for use by brokerage firms, to address current market conditions. It creates an efficient sales process for brokers while leveling the playing field for all bidder-participants so that a fair market value is achieved.

"Keeping the brokers at the center of the process is the key to running successful auctions, and having several leading brokerage firms on board utilizing AuctionPoint is a testament to the advantages of our model."

AuctionPoint’s robust functionality takes into account the complexities of commercial real estate transactions, accommodating everything from detailed property information to extensive due diligence materials, says Keith Yang, (middle left photo)

During the registration period, brokers can review the list of registered bidders and qualify bidders to participate.

On auction day, brokers know which bidders are in the virtual auction room, when they entered and can view the full bidding history.

Each bidder is also aware of the current high bid, creating a completely transparent process. “Unlike other auction models, AuctionPoint empowers local brokers to run their own auctions,” said co-founder of AuctionPoint," says Yang. "Brokers understand their own markets and are best suited to find the right buyers to participate in the auction.”

Below are details on the September commercial property auctions:

---September 15: 3,774 square foot, turn-key, flex-industrial condominium located at 1382 Valencia Avenue, Unit J, in Tustin, California. Minimum bid for this property is $375,000, or $99 per square foot. This property is being auctioned by Chris Bates, David Bolt, Andrew Morrow and Matt Christensen of CB Richard Ellis.

---September 16: 7,405 square foot, turn-key, flex-industrial condominium located at 16782 Von Karman Avenue, Unit 24, in Irvine, California. Minimum bid for this property is $715,000, or $97 per square foot. This property is being auctioned by Walter Frome and Bill Livesay of Voit Commercial Brokerage.

---September 17: 8,462 square foot, turn-key, office condominium located at 16782 Von Karman Avenue, Unit 12, in Irvine, California. Minimum bid for this property is $1,105,000, or $131 per square foot. This property is being auctioned by Jeff Chiate, Rick Ellison, Todd Martens and Peter Sowa of Cushman & Wakefield.

---September 18: 9,723 square foot, single-tenant, leased investment located at 16782 Von Karman Avenue, Unit 25, in Irvine, California. Minimum bid for this property is $1,165,000, or $120 per square foot, with a 12% cap rate. This property is being auctioned by Gary Stache, Pat Scruggs, John Read and Anthony DeLorenzo of CB Richard Ellis.

---September 18: 20,751 square foot, turn-key, flex-industrial condominium located at 7530 Jurupa Avenue, Units 101-103, in Riverside, California. Minimum bid for this property is $1,992,000, or $96 per square foot. This property is being auctioned by Mike Collins, Dan Foye and Noah Samarin of Collins Commercial.

Contact:
AuctionPoint, Inc., Catherine Finley, Chief Marketing Officer, 800-807-1688 x803, cfinley@auctionpoint.com

Marshall Hotels & Resorts, Inc. to Manage The Inn at Pocono Manor in PA

SALISBURY, MD, August 10, 2009 – Officials of Marshall Hotels & Resorts, Inc., a leading, Maryland-based hotel management and services company, today announced that the company has been retained to manage The Inn at Pocono Manor (top left photo) in Pennsylvania (http://www.poconomanor.com/).

The 3,000-acre mountain resort is consistently ranked one of the top three destination properties among resorts in the Pocono Resort Region.

Known as “The Grand Lady of the Mountains,” The Inn at Pocono Manor is a four-season resort listed on the National Registry of Historic Places.

“We plan to continue the mountain resort’s 107-year-old tradition of welcoming guests with the highest quality accommodations, personalized services, facilities and amenities,” said Michael Marshall,(bottom right photo) president and CEO of Marshall Hotels & Resorts, Inc.

“We will build on that tradition with such modern conveniences as complimentary wireless Internet access, in a way that does not take anything away from the hotel’s period-designed rooms and public spaces.

“Marshall has extensive expertise in the successful operation of independent resorts,” Mike Marshall noted.

“We will implement our proprietary operating and marketing programs and take advantage of our economies of scale.

"In addition, we will focus on raising the bar on service levels to offer our guests a more leisurely experience. Our goal is to not only increase occupancy and guest loyalty, but to promote the region, as well. We plan to be very active in the community.”

Contacts:

Rick Day, Senior Vice President – Sales and Marketing, Marshall Hotels & Resorts (410)749-8464 rday@marshallhotels.com

Jerry Daly, media Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com

Forest City Announces Major Pittsburgh Office Tenants

CLEVELAND, OH, Aug. 10, 2009 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:and)(NYSE:FCEB) today announced major tenant signings in the Company's Pittsburgh-area office properties.

Direct Energy Business will make Liberty Center (top right photo) its new headquarters and has signed a lease for approximately 52,300 square feet of space.

Direct Energy Business, a Direct Energy company, is one of North America's largest commercial retail energy suppliers.

Liberty Center is a 526,000-square-foot complex adjacent to the Pittsburgh Convention Center and incorporates the 616-room Westin Convention Center Hotel and the 27-story Federated Investors office tower.

Yellow Submarine Marketing Communications, Inc., a consumer, entertainment and retail ad agency, has signed a lease for approximately 13,100 square feet of space in the Bessemer Court building at the Station Square mixed-use development.

Station Square is a historic redevelopment area along 1.2 miles of Pittsburgh's riverfront and includes office, hotel, retail, entertainment and hospitality components.

In addition, the Company also has re-signed another existing tenant to space in the Commerce Court office building at Station Square.

"We're honored to welcome these new and renewing tenants to our Pittsburgh-area properties," said Charles A. Ratner, (bottom left photo) Forest City president and chief executive officer.

"These signings reflect the vitality of the Pittsburgh market as well as the quality of our area properties. They also are further evidence of the strength of our office portfolio nationwide, which continues to perform well, even under current economic and market conditions."

CONTACT:

Robert O'Brien, Executive Vice President - Chief FinancialOfficer, +1-216-621-6060,

Tom Kmiecik , Assistant Treasurer, +1-216-621-6060,or

Jeff Linton, Vice President - Corporate Communication, +1-216-621-6060, all of Forest City Enterprises, Inc.

Web Site: http://www.forestcity.net/