Reno, NV Office-Warehouse Building Gets $1.55M Loan

Miami, Florida—September 14, 2009— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on September 10, 2009, in the amount of $1,550,000 for the 1320-1350 Freeport Office/Warehouse Building in Reno, Nevada.

Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed 1320-1350 Freeport through Thomas D. Wood and Company’s correspondent relationship with Symetra Financial.

The loan term is nine years, and the interest rate can be reset every three years, based on a 25-year amortization and a loan-to-value of 56%. The interest rate is 6.445%. The 47,893 square-foot office/warehouse building was built in 1990 and is located at 1320-1350 Freeport Boulevard, Reno, Nevada.

For further information, please contact:
Steve Wood, (305) 447-782, swood@tdwood.com
Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Senior Hospitality Executive Joins Wyndham Development Team

PARSIPPANY, N.J. (Sept. 14, 2009) – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels and 11 brands, has appointed Matthew Sparks as senior vice president of development for the Wyndham Hotels and Resorts® brand.

In his new role, Sparks will be responsible for the growth and development of the Wyndham Hotels and Resorts brand’s portfolio through management and franchise agreements throughout the Western United States and Western Canada.

Prior to joining Wyndham Hotel Group, Sparks served in senior and executive level development roles for some of the world’s most well-known hotel companies and brands, including Fairmont Hotels & Resorts Worldwide, Starwood Hotels & Resorts Worldwide, Marriott International and Westin® Hotels and Resorts.

Most recently, he was senior vice president of global development for Fairmont Raffles Hotels International, where, based in Singapore, he directed development efforts for growth of the company’s portfolio in The Americas and Asia Pacific regions.

“With his impressive background of growing hotel brands around the world, Matt is a great addition to our team,” said Jim Alderman, (top left photo)  Wyndham Hotel Group executive vice president of global development. “He has extensive knowledge of North American markets and broad experience in deal structuring for management contracts and other complex transactions. These strong assets coupled with Matt's ability to build lasting client relationships will help us greatly as we continue to grow the Wyndham portfolio.”

CONTACT: Rob Myers, 973-753-6590, rob.myers@wyndhamworldwide.com

Gary Womack Returns to Grubb & Ellis as Vice President, Industrial Group

ONTARIO, Calif. (Sept. 14, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Gary Womack has rejoined the company as vice president, Industrial Group. Womack will specialize in industrial sales and leasing throughout San Bernardino County and Riverside County.

"Gary has been a part of the Inland Empire commercial real estate market for nearly 30 years," said Mano Leventakis,(top right photo)  executive vice president and managing director of Grubb & Ellis' Inland Empire operations. “We’re pleased that he is again part of our team.”

Womack began his commercial real estate career in 1980 with Johnson Shelton Commercial Real Estate Services. He worked at Grubb & Ellis from 1983 to 1992, during which time he ranked as one of the company’s top brokers in 1985, 1987, 1990 and 1991.

He spent the next 10 years as an owner and principle of California Asset Management, which provided asset management services to clients within the Inland Empire. Prior to returning to Grubb & Ellis, Womack was a vice president at DAUM, where he provided corporate and local real estate representation to companies in the industrial sector.

Womack holds a bachelor’s degree from California State Polytechnic University. He is a member of the American Industrial Real Estate Association and is a licensed California real estate broker.

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

Grubb & Ellis Tapped as Leasing Agents of Prime Group Realty Trust’s East/West Corridor Office Portfolio

ROSEMONT, IL (Sept. 14, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Prime Group Realty Trust has selected the company as the leasing agent for seven office buildings totaling nearly 408,000 square feet and located in the East/West Corridor office submarket.

Michael Fortuna, senior vice president, and Brett Ratay, vice president, both of the company’s Office Group, will assist Prime Group in leasing the available space in the buildings, with the focus of their efforts being The Olympian Office Center in Lisle and Brush Hill Office Courte in Westmont.

The team has also been selected as the listing agents for Enterprise Center II in Westchester and The Atrium in Naperville.

“These quality office buildings offer excellent opportunities in the East/West submarket,” said Fortuna. “We’re pleased to have been selected to assist Prime Group in leasing the balance of its East/West suburban portfolio.”

The Olympian Office Center is a seven-story 167,756-square-foot office building located at 4343 Commerce Court in Lisle.

 Built in 1987, the Class A facility offers amenities including an atrium, conferencing facility, fitness center, food service and on-site management. Approximately 46,000 square feet is currently available for lease in the building.

Brush Hill Office Courte, located at 740, 750, 760 and 770 Pasquinelli Drive in Westmont, comprises four Class B buildings totaling 108,445 square feet. Built in 1986, the complex offers a campus-like setting and easy access to I-290, I-294, I-88 and I-355. Approximately 34,650 square feet is currently available.

Built in 1986, Enterprise Center II is a single-story 62,580-square-foot office building located at 2305-2315 Enterprise Drive in Westchester. The Class B facility, which is currently 100 percent leased, offers a central dock, 24-hour access, individual HVAC control and convenient access to I-88, I-290 and I-294.

The Atrium is a Class B, handicap-accessible facility offering access to public transportation and ample parking. Complete with a distinctive two-story lobby/common area, the 69,077-square foot building is located at 280 Shuman Blvd. in Naperville and currently has 7,365 square feet available.

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

Fitch: U.S. CREL CDO Delinquencies Hold Steady on Extensions & Loan Sales

Fitch Ratings-NY-Sept. 14, 2009: Asset managers continue to extend maturing loans with 54 extensions (4.8% by number) reported in August, which helped to bring U.S. CREL CDO delinquencies down slightly last month, according to the latest CREL CDO Delinquency Index results from Fitch Ratings.

‘While these extensions reduce the number of matured balloon loans entering the CREL DI, they are in many cases merely deferring eventual losses to the CDOs,’ said Senior Director Karen Trebach.

The Fitch CREL CDO Delinquency Index (CREL DI) for August declined to 7.5% from 7.6% last month, with the removal of six loans offsetting the addition of 10 new delinquent ones. Realized losses on the removed loans were $65 million, including a total write off of a $26 million mezzanine loan interest backed by an office portfolio. The average recovery on loans resolved in August was 55.8%. Had the loans that were resolved at a loss over the past four months (1.9%) remained in the transactions, the CREL DI would have been 9.4% this month.

In August, a total of 11 of the 35 Fitch rated CREL CDOs were failing at least one overcollateralization (OC) test, which is one higher than last month. Failure of OC tests leads to the cutoff of interest payments to subordinate classes, including preferred shares, which are typically held by the CDO asset managers.

 Fitch is concerned about the additional stress these asset managers face as their cash flow continues to be
cutoff. If a manager loses its financial wherewithal, it may no longer be able to effectively manage the collateral of the transaction. For example, less financial capacity could lead to the loss of experienced staff, the inability to make protective advances or the weakened ability to defend its position in litigation or foreclosure.

Assets that are 30 days or less past due totaled 2.8% in August led by delinquent interests in the Resorts International Portfolio loan  (41 bps).

Fitch anticipates high default rates and low recoveries on the loans within the CDOs as these loans mature into the trough of the current commercial real estate cycle. Fitch is finalizing review methodology and anticipates significant downgrades to all Fitch rated CREL CDOs in the coming months.

The universe of 35 Fitch rated CREL CDOs currently encompasses approximately 1,100 loans and 350 rated securities/assets with a balance of $23.8 billion. The CREL delinquency index includes loans that are 60
days or longer delinquent, matured balloon loans, and the current month's repurchased assets.

Contact: Karen Trebach,  +1-212-908-0215, or Stacey McGovern, +1-212-908-0722, New York.

Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278; sandro.scenga@fitchratings.com

Cousins Announces Impairment Charge

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) today announced that it intends to recognize in the third quarter of 2009 an impairment charge of $39 million, or approximately $0.74 cents per share, related to the Company’s joint venture interest in Terminus 200, (top right photo)  a 565,000-square-foot office tower located in the Buckhead submarket of Atlanta.

The impairment charge does not impact the Company’s ownership interest in the venture, and the Company continues as property manager and leasing agent.

The Company owns a 50% joint venture interest in Terminus 200, which was substantially completed in August 2009. During the second quarter of 2009, the venture executed a 50,000-square-foot lease for the property and is in ongoing negotiations with several potential tenants, but no additional leases have been executed.

Based on the Company’s current expectations of the amount and timing of cash flows from Terminus 200 and other considerations, the Company has determined that the estimated fair value of the investment is lower than the book value.

Pursuant to Accounting Principles Board Opinion No. 18, this difference must be recorded as an impairment because the Company deems it to be other than temporary.

The impairment charge includes the Company’s full investment in the venture (approximately $21 million as of June 30, 2009), a $17.25 million loan repayment guarantee under the project construction loan, and obligations under the existing lease.

In addition, the Company today filed with the Securities and Exchange Commission a current report on Form 8-K containing additional information regarding the Terminus 200 project, information regarding an anticipated impairment from the sale of its corporate airplane and information regarding anticipated outparcel and tract sales in the third quarter of 2009. This filing is available on the investor relations page of the Company’s website.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com

Cousins Properties Announces Results of Third Quarter Dividend Elections

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholders’ elections relating to Cousins’ third quarter common stock dividend of $0.15 per share declared by its Board of Directors on July 15, 2009.

The dividend will consist of approximately $2,617,000 in cash and 676,000 shares of common stock.

 The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend or approximately $2,617,000, and therefore, shareholders who elected to receive all cash will receive a combination of cash and stock.

The number of shares included in the dividend is calculated based on the $7.73 average closing price per share of Cousins’ common stock on the New York Stock Exchange on September 3, September 4, and September 8, 2009. The dividend of $0.15 per share will be paid as follows:

---to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock;

---to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.051 per share in cash and $0.099 per share in common stock; and Cousins will pay fractional shares in cash.

Registered shareholders with questions regarding the dividend election may call American Stock Transfer & Trust Co., Cousins’ transfer agent, at 1-800-937-5449. If your shares are held through a bank, broker or nominee and you have questions regarding the dividend election, please contact your bank, broker or nominee.

The issuance of approximately 676,000 shares of Cousins’ common stock pursuant to this dividend resulted in an effective increase of 1.3% in shares of common stock outstanding on the record date of August 3, 2009. Share and per share information will be adjusted in subsequent financial information, beginning with Cousins’ third quarter earnings release, to reflect this increase in shares of common stock.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com
http://www.cousinsproperties.com/

Fitch: Liquidity for U.S. Equity REITs Slowly on the Mend

Fitch Ratings-NY-11 September 2009: Access to unsecured debt is improving for U.S. equity REITs, according to Fitch Ratings in a new report.

Though concentrated among select issuers, the upswing has been taking place since the second quarter of this year. If more REITs are able to gain access to unsecured debt over time, Fitch may revise its Outlook on the U.S. equity REIT sector to Stable from Negative.

Given the demonstrated ability by many REITs to raise common equity through follow-on offerings coupled with unsecured bond issuance activity, Fitch’s rating actions over the near term will be driven by REITs’ liquidity positions along with other credit considerations collectively, as opposed to liquidity primarily.

‘Though liquidity may be more of a concern for certain REITs with more sizeable shortfalls, liquidity across the U.S. equity REIT sector is mproving modestly,’ said Steven Marks, (top right photo) Managing Director and U.S. REIT Group Head. ‘Maintaining a liquidity surplus remains a key factor for Fitch’s equity REIT ratings.’

REIT Unsecured bond issuance volume and terms have improved materially, with 62% of $6.7 billion in unsecured bond issuance year-to-date taking place after June 30, 2009.

Credit spreads over comparable treasuries on
such transactions narrowed by 235 basis points at issuance relative to transactions prior to June 30, 2009, enabling more opportunities for transactions acceptable to REITs.

Additionally, after June 30, 2009, REITs raised approximately $1.5 billion in equity offerings, bringing equity issuance across the sector to $14.4 billion year-to-date. ‘The market’s acceptance of these transactions has enabled REITs to reduce leverage, as well as strengthen liquidity,’ said Marks.

 ‘However, REITs may be reluctant to continue such issuance due to the impact of further dilution to the extent such offerings are more defensive or liquidity-enhancing, as opposed to acquisition-driven, which is a concern.’

The CMBS market faces continued challenges while pension funds, insurance companies and other secured lenders are reducing secured lending activity. Despite this, REITs continue to demonstrate access to the mortgage financing market.

While most REITs are refinancing mortgages on more onerous terms, secured lenders’ asset and sponsor selectivity has favored publicly-traded REITs’ portfolios. As such, Fitch has enhanced its approach towards analyzing REIT liquidity by including sensitivities addressing various scenarios of refinancing prospects for REITs’ upcoming secured debt maturities.

The median of REITs’ liquidity cover, defined as sources of liquidity divided by uses of liquidity for the projection period of July 1, 2009 to Dec. 31, 2011 is 1.1 times.

This level indicates that most REITs with investment grade ratings have liquidity surpluses over the next two and a half years, which is beyond the 12-to-24 month timeframe Fitch has typically assessed.

‘REITs are not immune from recent headline risk regarding ongoing commercial real estate fundamental challenges,’ said Marks. ‘However, REITs are set apart from other commercial property owners from a contingent liquidity standpoint.’

Contact:
Steven Marks,  +1-212-908-9161, Sean Pattap,  +1-212-908-0642 or Joseph Engelken,  +1-212-908-0569, New York.

Media Relations: Sandro Scenga, New York, Tel: +1 212-908-0278; sandro.scenga@fitchratings.com

Citi’s Office Campus in Jacksonville, FL Chosen as World’s Top Corporate Facility for 2008-2009

SANTA ANA, CA – Financial services leader Citigroup Inc. (NYSE: C) announced today that the Building Owners and Managers Association International named the Citi Jacksonville Office Campus in Jacksonville, Florida, “The Office Building of the Year” in the Corporate Facility category for 2008-2009. The campus is owned by Citi and managed by Grubb & Ellis Management Services, Inc., a wholly owned subsidiary of leading real estate services and investment firm Grubb & Ellis Company (NYSE: GBE).

TOBY winners were recognized for excellence in office building management and operations in specific categories of building size or type. To win the international award, the office buildings first won both local and regional competitions. Judging was based on community impact, tenant/employee relations programs, energy management systems, accessibility for disabled people, emergency evacuation procedures, building personnel training programs and overall quality indicators. Now in its 24th year, the TOBY Awards Program is recognized as one of the most prestigious and comprehensive programs in the commercial real estate industry.

“This award is a reflection of the culture we have built together, the work we do in the community, and the difference we make in the lives of others,” said Citi’s Jacksonville Site President Kristi Bageant-Epperson, Head of Branch Services for Citibank North America. “I am so proud of this Jacksonville team. I also want to thank and recognize Sheila Cribb, her Citi Realty Services team, and the Grubb & Ellis team, led by Senior Facility Manager Kim Newhouse for all they do for our campus.”

Grubb & Ellis Management Services has managed Citi’s Jacksonville Office Campus since it was built in 2004. “We are fortunate to have a close working relationship with Citi,” said Newhouse. “We are excited and proud to have teamed with Citi in earning the highest TOBY recognition possible, as well as to manage the first building in Jacksonville to have received the award.”

Grubb & Ellis Management Services’ national facility management relationship with Citi is led by Nanci D’Alessandro, Vice President and National Accounts Manager. Joseph Swingle, Executive Managing Director, Global Client Services, leads Grubb & Ellis teams delivering facility management services to the company’s national accounts.

The Citi Campus stretches across 628,000 square feet and consists of four, three-story interconnected buildings and two additional stand-alone buildings. Citi’s 4,800 employees enjoy the benefits of a state-of-the-art childcare facility, an on-site health and fitness center, medical center, full service café, and a 3.5 acre wildlife habitat. The campus is also registered with the U.S. Green Building Council, pursuing a LEED for Existing Buildings certification, for leadership in energy and environmental design.

This is the second year in a row a Grubb & Ellis Management Services-managed property has won the International TOBY in the Corporate Facility category – the Sony Building located in New York won the award last year.

Founded in 1907, the Building Owners and Managers Association International is an international federation of more than 100 local associations and affiliated organizations. The 17,000-plus members of BOMA International own or manage more than 9 billion square feet of commercial properties in North America and abroad. BOMA’s mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. On the Web at www.boma.org.

Contacts:

Erin Mays, 734.223.8288, erin.mays@grubb-ellis.com
Janis Tarter, 415.658.4256, janis.tarter@citi.com

Plymart Building in Stockbridge, GA to be Sold by Auction

ATLANTA, GA, SEPTEMBER 11, 2009 – Sperry Van Ness Interstate Auction Company announced today that it has been hired by Four Corners Realty LLC to sell via auction the former PlyMart Building Supply Center located at 2700 N. Highway 42 in Stockbridge, Georgia. The auction is scheduled onsite on September 24 at 1 p.m.

The property consist of two warehouse distribution buildings encompassing 52,135 square feet with office/showroom space on 9.40 acres of land containing 540 feet of Road Frontage on Highway 42.

The property is currently zoned M-1, ideal for many industrial tenants and users. The property will be offered as 3 separate tracts and/or combined as 1 or 2 tracts. Additional information on the auction can be found at http://www.interstateauction.com/.

According to Four Corner’s CEO Randy Mahaffey, “We really hate to sell the Henry County location – it was one of our best stores, and we had hoped to keep it. However, we have to sell some property immediately, and we felt that this particular location would have the most appeal to buyers.”

With over $400 million in annual sales, PlyMart was one of the largest building supply companies in Atlanta, supplying home builders with the materials to build Atlanta’s neighborhoods for 38 years.

PlyMart supplied Atlanta area builders lumber and other materials on credit. When lenders pulled the plug on new home financing, builders were unable to pay PlyMart and the firm was forced into Chapter 11 in July 2008.

“Auctions are the most efficient way for a property owner to sell in an uncertain market,” said John Johnson,(top right photo)  CCIM, managing director of Sperry Van Ness Interstate Auction. “Instead of lowering your price incrementally until you find what the market will bear, an auction starts low and moves up through competitive bidding until all but one bidder drops out.”

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

Arbor Closes $825,000 Fannie Mae DUS® Small Loan for Brownlee Villas Apartments in Atlanta, GA

Uniondale, NY (September 10, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $825,000 loan under the Fannie Mae DUS® Loan product line for the 34-unit complex known as Brownlee Villas Apartments in Atlanta, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.

The loan was originated by Alexander Kaushansky, (top left photo) Director, in Arbor’s full-service New York, NY office. “Arbor was pleased to deliver for this client in this challenging market,” said Kaushansky.

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

Stan Johnson Co. completes sale of IHOP Ground Lease in Harvey, LA

NEW ORLEANS, LA – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of 0.97 acre land parcel 100% leased to IHOP Restaurant located at 1719 Manhattan Blvd. in Harvey, LA to a 1031 private investor for an undisclosed purchase price.

Hunter Jaggard and Daniel Herrold in the Houston office of Stan Johnson Company represented the seller,

Weingarten Realty Trust. John Davidson with Four Corners Commercial Realty Partners represented the buyer in the transaction.

“We had a very positive response in our marketing efforts,” said Jaggard. “In fact, we received an offer in our first week of marketing from the buyer that ultimately closed on the deal.”

The property is located at Manhattan Place shopping center on Manhattan Boulevard, one of the key retail corridors in New Orleans’ West Bank. The center, encompassing 258,317 square feet, is currently 98 percent leased with anchors such as Target, Stage and Ross.

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

Cambridge Realty Capital Chairman Jeff Davis Co-Authors Article on Senior Living Property Sector

CHICAGO, IL--How the senior living property sector is perceived by the institutional investor is explored in an article published in a recent issue of the Journal of Real Estate Portfolio Management.

The article, co-signed by Elaine Worzala (bottom left) of Clemson University, Judith F. Karofsky of Madison, Wisconsin-based Real Estate Insites LLC, and Cambridge Realty Capital Companies Chairman Jeffrey A. Davis, (top right photo)  provides both an academic and business perspective on the subject.

The authors point out that the demand for real estate products designed with elderly end-users in mind is growing. They also note that the risk/return profiles of these investments are shifting.

According to an executive summary prepared by the authors, the aim of the research was to shed light on the perceived risks and returns associated with the specific types of investments available in the senior housing sector at this time.

Members of the Pension Real Estate Association were queried to learn how they view this property sector compared with alternative real estate investments and more traditional institutional investments, such as stocks and bonds.

The researchers learned that institutional investors do not appear to be investing in most of the seniors housing product available because they perceive it to have relatively high risk compared to more traditional real estate investments or alternative investments like international real estate.

The authors provide an in-depth analysis of the major senior housing sub-sectors and offer recommendations regarding what can be done to improve investor perceptions.

The complete Journal of Real Estate Portfolio Management article is posted in the Papers and Presentations section of the Resource Center tab on the www.cambridgecap.com website.

Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com
Twitter: http://twitter.com/CambridgeCap

Marcus & Millichap Sells 51-Acre, Multi-Family Development Site in North Port, FL

NORTH PORT, FL, September 9, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Largo Preserve, (centered photo below) a 51.86 acre multi-family development site located in North Port, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $1,900,000.


Paul Bouldin, ( bottom left photo) Senior Associate, spearheaded the effort with Dorothy Jackman, (top right photo)  Vice President Investments and Michael Harris, Investment Associate in Marcus & Millichap’s Tampa office.

As part of Marcus & Millichap’s Special Assets Services division, focused on lender-controlled commercial real estate assets, together they were exclusively engaged to market the property on behalf of the seller, a financial institution. The buyer, a department of the county government, was secured and represented by Paul Bouldin.

Largo Preserve is located at 1416 Passover Street in North Port, Florida.

“We have been very successful in assisting a number of lenders with their distressed assets," Bouldin said. "Our reputation with lenders across Florida has grown, along with our pool of buyers seeking these types of opportunities.

"Marcus & Millichap’s unique platform is providing ways to clear transactions where others have been unable to bridge the gap between bids and asking prices. Largo Preserve was a failed 480-lot town home community taken back by the lending bank. The county government unit that bought the property plans to retain it for future uses."

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Ramada Brand Opens First Hotel in Russia; Now Present in 48 Countries

PARSIPPANY, N.J. (Sept. 10, 2009) – Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels under 11 brands, today announced the continued expansion of its Ramada® hotel chain with the opening the brand’s first hotel in Russia: the 156-room Ramada Yekaterinburg (top right photo)..

Owned by Mayak Corporation Ltd. and managed by Sophos Hotels, the property is the brand’s fifth hotel to open in a new market in the past year and gives the brand a presence in 48 countries.

“Ramada hotels continue to have the most diverse global presence of any Wyndham Hotel Group brand, with close to 350 of the chain’s nearly 900 properties located in key destinations outside the United States,” said Michael Poynter, (middle left photo)  Wyndham Hotel Group senior vice president and managing director, Europe, Middle East and Africa. “The brand’s entrance into Yekaterinburg, one of Russia’s largest and most vibrant cities, is a testament to its powerful international appeal.”

Situated three and a half miles from Kotsovo International Airport, the six-story Ramada Yekaterinburg (bottom right map) consists of 132 guestrooms, 24 suites and six cottage apartments. Highlights of the hotel include complimentary airport and city shuttles, state-of-the art business and fitness centers, heated indoor and outdoor swimming pools, sauna, full-service restaurant, three bars and night club. Rooms feature high-speed wireless Internet access and 32-inch flat-screen televisions.

Yekaterinburg-based Mayak Corporation Ltd., a 20-year old private construction and property development company, specializes in commercial real-estate and has worked with numerous major international partners. Most recently, the company has placed a strong focus on working with Wyndham Hotel Group to develop a presence in the central and Eastern Europe hotel market. More information is available at http://www.ural-mayak.ru/.

Switzerland-based Sophos Hotels SA, a privately held hotel management company specializing in a commitment to efficiency and value through a lightweight and proactive structure, currently manages over a dozen hotels throughout Central and Eastern Europe, including the Days Inn Lourdes.


Additional information is available at http://www.sophoshotels.com/.

Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN), encompasses more than 7,000 hotels and 590,000 rooms under the hotel brands: Wyndham Hotels and Resorts®, Ramada®, Days Inn®, Super 8®, Wingate by Wyndham®, Baymont Inn & Suites®, Microtel Inns & Suites®, Hawthorn Suites®, Howard Johnson®, Travelodge® and Knights Inn®.

All hotels are independently owned and operated excluding certain Wyndham and international Ramada hotels which are managed by our affiliate or through a joint venture partner. Wyndham Hotel Group is based in Parsippany, N.J. Additional information is available at http://www.wyndhamworldwide.com/.

CONTACT: Christine Da Silva, 973-753-6590, christine.dasilva@wyndhamworldwide.com