Senior Marketing Executive to Lead Wyndham Rewards Loyalty Program

PARSIPPANY, N.J. (Sept. 17, 2009) – Wyndham Hotel Group has appointed Robin Korman to oversee Wyndham Rewards®, the world’s largest lodging loyalty program with more than 6,000 participating hotels in over 20 countries.

As the senior vice president of loyalty marketing and strategic partnerships, Korman will be responsible for the development and management of the company’s loyalty program, customer loyalty initiatives, all direct-marketing programs and internal and external strategic marketing alliances.

“Robin is an accomplished marketing executive with a wealth of experience in the loyalty arena,” said Flo Lugli, (top right photo) Wyndham Hotel Group’s executive vice president of marketing. “Her proven track record for driving multi-million dollar revenue growth will serve Wyndham Hotel Group well.”

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

HFF arranges refinancing for student housing community adjacent to North Carolina’s Campbell University

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured refinancing for Campus Habitat 9, (top left photo)  an 82-unit student housing community adjacent to Campbell University in Lillington, North Carolina.

HFF senior managing director Dave Keller (bottom right photo) and associate director David Ross worked on behalf of Campus Habitat to secure the five-year, 7.0% fixed-rate loan with Coastal Federal Credit Union. New York City-based Campus Habitat acquires, renovates and manages student housing communities throughout the United States.

HFF also arranged refinancing in August for a student housing community at Vincennes University in Indiana on behalf of Campus Habitat.

“We were very excited to have a second opportunity to work with Campus Habitat and to once again help them achieve their financing objectives in today’s challenging capital markets,” said Ross.

Campus Habitat 9 is located at 25 Landis Lane adjacent to Campbell University, a private Baptist institution situated halfway between Raleigh and Fayetteville in Lillington, North Carolina. Completed in 2005, the Class A property has single, one-, two-, three- and four-bedroom units with a total of 224 beds. Property amenities include a sand volleyball court, gaming room and fitness center.

“Campus Habitat 9 is the only dedicated student housing asset in the Campbell University market and as a result is tremendously popular with students. However, the size of the University [9,400 students] and surrounding community [population 3,300] required HFF to be innovative and persistent in the placement and successful completion of this assignment,” added Keller.

Contacts:
David B. Keller, HFF Senior Managing Director, (317)630-3191, dbkeller@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, ,(713) 852-3500, krmurphy@hfflp.com

HFF secures $12.5M refinancing of suburban Chicago shopping center

FLORHAM PARK, NJ – The New Jersey and Chicago offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have secured a $12.5 million refinancing for Baker Hill Shopping Center, (top right photo)  a 135,355-square-foot, grocery-anchored shopping center in Glen Ellyn, Illinois.

Working exclusively on behalf of Columbia Retail Baker Hill, LLC, a joint venture managed by Regency Centers, HFF managing director Jim Cadranel (middle left photo) l and director Matthew Schoenfeldt (bottom right photo)  placed the five-year, fixed-rate loan with Ladder Capital Finance. This was the second financing for Regency Centers placed by HFF within the last nine months.

“We are pleased to have arranged this financing for Regency Centers in a difficult market,” said Cadranell.

Baker Hill Shopping Center is located at 830 Roosevelt Road at the intersection of Roosevelt Road and Baker Hill Drive in Glen Ellyn, approximately 23 miles west of downtown Chicago. Completed in 1999, the property is 93% occupied and is anchored by Dominick’s Finer Foods, a wholly-owned subsidiary of Safeway, Inc.

Regency Centers is a publicly-traded national owner, operator, and developer of grocery-anchored and community shopping centers.

Ladder Capital Finance LLC is a specialty finance company that specializes in the origination of commercial mortgage loans primarily to be held in its investment portfolio. Ladder Capital is fully integrated with in-house direct origination, underwriting and asset-management capabilities.


The company was formed in October 2008 and is comprised of a highly experienced team of industry veterans that ran the loan origination groups of major financial institutions including UBS and CSFB. Ladder Capital’s personnel have deep relationships and expertise in all aspects of commercial real estate lending and investment.

Contacts:


James A. Cadranell, HFF Managing Director, (973) 549-2000, jcadranell@hfflp.com

Matthew R. Schoenfeldt, HFF Director, (312) 528-3650, mschoenfeldt@hfflp.com

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

$23.8M acquisition financing for Neptune, NJ retail center arranged by HFF

 FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $23.8 million in acquisition financing for Neptune Plaza Shopping Center, (top left photo)  a grocery-anchored shopping center in Neptune, New Jersey.

Working exclusively on behalf of The Azarian Group, HFF senior managing director Thomas Didio (bottom right photo) and associate director Michael Klein (bottom left photo)  placed the five-year, fixed-rate loan with a local commercial bank. Loan proceeds were used to acquire the property. The Azarian Group is an experienced retail owner that manages and develops shopping centers throughout New Jersey and New York.

Originally completed in 1970, Neptune Plaza Shopping Center was renovated and expanded in 2002 to its current size of 218,524 square feet. Tenants at the fully occupied center include ShopRite, Marshall’s, HomeGoods, Quizno’s, IHOP, Dunkin’ Donuts and a TD Bank North outparcel. Neptune Plaza Shopping Center is located at 2200 State Route 66 across from the Sea View Square Mall approximately three miles west of the Garden State Parkway in Neptune.


“HFF is pleased to once again assist The Azarian Group in the acquisition of such a dynamic neighborhood shopping center. This is a wonderful property and both the lender and borrower did a great job in committing and closing this business,” said Didio.

Contacts:

Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000, tdidio@hfflp.com
 
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Samuel Winterbottom Joins Grubb & Ellis to Head Hotels,Golf & Leisure Practice Group

SANTA ANA, CA (Sept. 16 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Samuel Winterbottom has joined the company as senior vice president, director of the company’s Hotels, Golf & Leisure Practice Group, effective immediately.

Winterbottom brings 30 years of experience that includes senior leadership positions and extensive relationships with owners, investors and brokerage professionals throughout the hospitality industry.

In his new role, Winterbottom will be charged with expanding the company’s existing hospitality capabilities. This includes recruiting experienced brokerage sales professionals to build a specialized team dedicated to providing strategic real estate services targeted toward owners and investors throughout the hospitality and leisure industries. He will be based in the company’s Atlanta office.

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

Grubb & Ellis Realty Investors Secures 28,080-SF Lease at Congress Center in Chicago

CHICAGO (Sept. 16, 2009) – Grubb & Ellis Realty Investors LLC today announced that it has secured a 28,080-square-foot lease expansion with the United States General Services Administration for space at Congress Center, (top right photo) a 16-story, Class A office building located in Chicago’s West Loop.

Grubb & Ellis Realty Investors manages the property on behalf of multiple investment programs and individual investors.

The lease expansion will increase the property’s occupancy from 79 percent to 84 percent. The GSA currently leases 113,458 square feet of space at the property on behalf of various federal agencies.

The new space leased by the GSA is expected to be occupied in mid-2010, bringing the total space leased by the GSA to approximately 141,538 square feet.

“Grubb & Ellis Realty Investors is very pleased to have executed this lease, particularly in light of the formidable economic challenges confronting the national and Chicago real estate markets,” said Kent Peters, (middle left photo) executive vice president of Asset Management. “In the midst of a difficult leasing atmosphere, we have been able to further stabilize Congress Center and realize additional revenue on behalf of investors.”

Located at 525 W. Van Buren St., Congress Center offers approximately 520,000 square feet of rentable space.

Built in 2001, the building’s amenities include a two story lobby that features granite, glass, exotic wood and stainless steel trim, 24-hour monitored building security and a secure heated indoor executive parking garage.

Acquired by Grubb &  Ellis Realty Investors on behalf of investors in January 2003, Congress Center is situated one block from Union Station, Chicago Transit Authority lines and in close proximity to the Congress Expressway. In addition to the GSA, notable tenants include Amtrak, Azko Nobel and North American Insurance.

Mark Parrish, senior vice president of Grubb & Ellis’ downtown Chicago office, negotiated the lease on behalf of Grubb & Ellis Realty Investors with assistance from the Washington, DC-based Grubb & Ellis Government Services Group. Studley’s Jason Volpe and Jason Lichty represented the GSA.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

Marcus & Millichap Lists $18M Student Housing Community in Florida

GAINESVILLE, Fla., Sept. 15, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for The Courtyards, (top left photo)  a 91-unit, 375-bedroom, 110,597-square foot student housing community in Gainesville.

The Courtyards’ listing price of $18 million represents $197,802 per unit, $48,000 per bed and $163 per square foot.

The current weighted average rent is $1.69 per foot with all leases running 12 months and backed by parental guarantees.

Dorothy Jackman,(middle right photo)  vice president investments and a senior director of the firm’s National Multi Housing Group (NMHG) in Tampa, and Travis Prince, (bottom left  photo) senior associate and a member of the NMHG in Tampa, are representing the seller, a local owner.

“The Courtyards is directly across the street from the University of Florida,” notes Jackman, “and leases by-the-bed. This is an opportunity for an investor to own a well-performing asset with the future potential of a mixed-use development opportunity. This is truly irreplaceable real estate that rarely becomes available, given its close proximity to the University of Florida,” adds Jackman.

Located on 3.5 acres at 1231 SW 3rd Ave. in Gainesville, the property consists of two-, four- and five-bedroom flats and townhomes. The unit mix features one two-bed/1.5-bath flat at 980 square feet, one two-bed/one-bath townhome at 965 square feet, eight four-bed/1.5-bath flats at 1,214 square feet, 66 four-bed/1.5-bath townhomes at 1,190 square feet and 15 five-bed/1.5-bath flats at 1,360 square feet.

The Courtyards’ units are fully furnished in modern styles with newly remodeled kitchens, full appliances, tiled dining rooms, oversized living rooms, balconies or patios and all utilities, cable and Internet are included in the monthly rent. Many units overlook a large swimming pool in the center of an enormous courtyard.

The University of Florida is the largest university in the state and the fourth largest in the nation. Enrollment is approximately 52,000 students annually.

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

Marcus & Millichap Sells $79.7M Bay Area Luxury Apartment Community in California

DUBLIN, Calif., Sept. 14, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has successfully brokered the transaction of Waterford Place Apartment Homes,(top left photo)  a 390-unit, 350,968-square foot luxury apartment community in Dublin, Calif. The sales price of $79.7 million represents $204,358 per unit and $225 per square foot.

Stanford Jones, (middle right photo) executive vice president investments, Philip Saglimbeni, associate vice president investments and Salvatore Saglimbeni, associate vice president investments, all in the firm’s Palo Alto office, represented the seller, Shea Properties’ Waterford Place Apartments LLC, and the buyer, Behringer Harvard Multifamily REIT I.

“Waterford Place represents a rare opportunity in today’s Bay Area marketplace,” comments Jones. “We expect a total of just 12 or 13 large multifamily transactions in 2009 and Waterford will be one of the two or three Class A properties that are less than 10 years old.”

“Despite the current downturn, the market for quality, well-located assets remains exceptionally strong,” adds Philip Saglimbeni. “Multiple buyers and very competitive bidding processes are still prevalent.”

Located at 4800 Tassajara Road in Dublin, the property’s proximity to interstates 580 and 680 and the Dublin/Pleasanton BART station provide convenient access to Bay Area employment centers. The Shops at Waterford is immediately adjacent to the property and Hacienda Crossings Shopping Center is nearby.

Built in 2003, Waterford Place Apartment Homes offers residents the benefits of resort-style living with a superior mix of one and two-bedroom homes and a well-appointed amenity package. Interiors include spacious floor plans averaging approximately 900 square feet with premium finish levels.

 The property features beautiful landscaping with courtyards and unique waterscapes, a heated resort-style outdoor swimming pool and spa, recreation room, state-of-the-art fitness center, theater, business center and conference room, controlled access and four-level parking garage.

:Press Contact: Stacey Corso, 925) 953-1716

Cousins Properties Announces Pricing of Public Offering of Common Stock

ATLANTA, GA -- Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) announced today that it has priced its public offering of 40,000,000 shares of common stock at a price to the public of $7.25 per share.

 In addition, the Company has granted the underwriters a 30-day option to purchase up to 6,000,000 additional shares of common stock to cover over allotments, if any.

The estimated net proceeds to the Company from the offering, before giving effect to any exercise of the underwriters’ over allotment option, are expected to be approximately $277.2 million, after deducting the underwriting discount and estimated offering expenses payable by the Company.

The Company intends to use the net proceeds from the sale of the shares of its common stock to repay approximately $248.0 million of existing indebtedness under its unsecured revolving credit facility and the balance for general corporate purposes, which may include repayment of additional indebtedness under the unsecured revolving credit facility.

Subject to customary closing conditions, the offering is expected to close on or about September 21, 2009.
BofA Merrill Lynch, Morgan Stanley and J.P. Morgan are acting as the joint book-running managers for the offering.

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

ENCINO, CA, Sept. 15, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been awarded the highest ranking (number 162) for any real estate firm in InformationWeek’s ranking of the top 500 technology firms.

 This is the fourth consecutive year that the firm has been ranked by InformationWeek, its highest ranking overall, and the highest ranking ever by a commercial real estate firm.

Marcus & Millichap was cited for its overall strength in technology, particularly its tools to serve clients in its commercial real estate brokerage business and the technology platform it deploys to support its sales force of more than 1,300 investment specialists nationally.

 “Marcus & Millichap has long been a pioneer in bringing technology to the brokerage industry to better serve our clients and support our agents,” says Rick Peltz, (top left photo)  senior vice president and chief information officer. “We are honored that InformationWeek recognized our efforts and we commit ourselves to continuing to develop and implement innovative, cost-effective and timely programs.”

Specific programs cited by the magazine in its recognition of Marcus & Millichap include a proprietary, real-time statistical marketing program, the automation of the press release system for its more than 70 regional offices, and  a search engine optimization program that led to a significant gain in web market share for the firm.

Also, new communication technology that integrates various tools into a single point-of-contact system, a rebranding marketing program that led to an increase in market share for Marcus & Millichap’s investment specialists, the implementation of a new mass e-mail system, and an expansion of a successful proprietary document center that gives clients real-time information about marketing efforts and access to the most current transaction information.

Press Contact: Stacey Corso,  (925) 953-1716, stacey.corso@marcusmillichap.com

CBRE Orlando Closes $89M in Apartment Sales

ORLANDO, FL--CB Richard Ellis is pleased to announce that its Multi-Housing Group has closed another apartment sale in Orlando, and has earned 75% market share locally in 2009 thus far.

Including the sale of Promenade Crossing this month, CBRE’s Central Florida Multi-Housing Group has closed nearly $89 million of the approximately $120 million in Orlando apartment transactions so far this year.

Shelton Granade and Luke Wickham exclusively represented the sellers.

Completed in 1997, Promenade Crossing is a 212-unit rental community across from the desirable Baldwin Park area of Orlando. The property was 95% occupied at closing, and CBRE generated substantial interest in the offering.

Multi-housing sales activity has continued to increase throughout the year. The other assets sold in Orlando range from “value add” opportunities built in the 1970s and ‘80s to class “A” projects built within the last ten years.

CBRE has also sold several “fractured” deals – communities that converted and sold units as condominiums and reverted the remaining units back to rentals.

CBRE’s Central Florida Multi-Housing Group has closed more multi-housing properties locally in 2009 than any other company, and continues to be the market leader in Orlando.


For further information, please contact:

Shelton Granade, T 407 839 3103;  F 407 404 5001; shelton.granade@cbre.com

Luke Wickham, T407 839 3130, mailto:Luke.wickham@cbre.com    

Cousins Properties Commences Common Stock Offering

ATLANTA -- Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) announced today that it has commenced a public offering of 32,000,000 shares of common stock.

 The underwriters will be granted a 30-day option to purchase up to 4,800,000 additional shares of common stock to cover overallotments, if any.

BofA Merrill Lynch, Morgan Stanley and J.P. Morgan are the joint book-running managers for the offering.

The Company plans to use the net proceeds from the offering to repay a portion of the outstanding balance under the Company’s unsecured revolving credit facility. Any net proceeds in excess of $248 million will be used to repay additional existing indebtedness under the Company’s revolving credit facility and for general corporate purposes.

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

Penzance completes 74,497-SF Lease Renewal with U.S. General Services Administration

WASHINGTON, D.C.-– Penzance  has completed the lease renewal of 74,497 square feet of office space with the U.S. General Services Administration at Parkridge Two, 10803-10805 Parkridge Blvd. in Reston, Virginia. Grubb & Ellis Company, a leading real estate services and investment firm, represented Penzance in the transaction.

Parkridge Two is a two-story, office building located within the Parkridge Center office park,(top left photo)  Reston's largest office park. Parkridge enjoys superior access to the Washington Dulles Toll Road and is the site closest to Tyson's Corner in the Dulles Corridor. The park has dual entrances and features an interior ring road with 2-acre pond, volleyball and croquet courts, a picnic area, outdoor fountains, and a deli. The office buildings in Parkridge range from 2 to 7 stories.

Charles Dilks, Keith Lavey and Kurt Stout of the Grubb & Ellis Government Services Group (www.grubb-ellis.com/government) represented Penzance in this transaction. The Government Services Group provides advisory and transaction services to lessors, investors and government agencies throughout the United States. Combining its specialized knowledge of government procurement process with Grubb & Ellis' broad leasing, sales and market research expertise, the Government Services Group delivers effective solutions to its clients.

Penzance is a private equity real estate investment company that owns, develops and manages commercial properties. Founded in the mid-1990's by principals Victor Tolkan and Julia Springer Tolkan, Penzance focuses on investment grade real estate opportunities in the metropolitan DC area.

Contact: Matt Pacinelli , 202.349.5686 direct , 202.271.0526 mobile , 888.690.1885 fax, mpacinelli@penzco.com

Grubb & Ellis Promotes Lisa Kochan in New Jersey: Hires Charles Davidson in Philadelphia

 Kochan Will Oversee Central and Northern NJ Locations 

FAIRFIELD, NJ– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Lisa Kochan (top right photo) has been promoted to assistant vice president, Grubb & Ellis Management Services Inc., a wholly-owned subsidiary of Grubb & Ellis Company.

In this role, she will oversee the day-to-day operations of the company’s central and northern New Jersey locations, which include offices in Fairfield and Edison.

Kochan joined Grubb & Ellis in 2001 as a property manager responsible for the day-to-day management of properties for TIAA-CREF, MetLife and Guggenheim Real Estate. She was promoted to portfolio manager in 2007, assuming responsibility for overseeing the financial and operational performance of the company’s northern and central New Jersey portfolio totaling approximately 8.5 million square feet.

“Lisa has shown tremendous dedication to our team, our clients and the community at large,” said Eric Stone, executive vice president and managing director of Grubb & Ellis’ Northern and Central New Jersey offices. “The level of support she’s capable of providing to our professionals translates directly into unmatched client service, while her charitable efforts enhance our ability to be the best corporate citizens we can be.”

Charles Davidson is New Senior VP in Downtown Philadelphia Office
PHILADELPHIA (Sept. 14, 2009) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Charles Davidson has joined the company’s downtown Philadelphia office as senior vice president, specializing in office tenant representation.

“We are truly excited about the addition of Charlie to our Center City team,” said Bob Clements, executive vice president and market leader for Grubb & Ellis’ Philadelphia tri-state area. “His experience in every facet of commercial real estate will add to an already-strong downtown office.”

Davidson is a 19-year industry veteran with experience in investment management, asset management and office leasing. Since 2007, Davidson was a senior vice president with BPG Properties, Ltd., where he directed redevelopment, leasing and management activities as head of the firm’s Washington D.C. office.

Previously, as director of asset management for BPG, Davidson oversaw a number of corporate activities, including the development of best practices, information technology, risk management and real estate tax appeals. He began his career in real estate in 1990 with Aegis Realty Consultants, which was acquired by BPG in 1998.

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

NAI Realvest Completes $1.1M Sale of former Whistle Junction Restaurant in Titusville, FL

ORLANDO, Fla. - NAI Realvest recently completed the $1,100,000 sale of the 10,811 square foot Whistle Junction restaurant facility located at 3125 Columbia Blvd. in Titusville.

Paul P. Partyka, (top right photo) principal and managing partner at NAI Realvest, negotiated the sale representing the seller Sovereign Investment Company of Palo Alto, Calif.

The property was purchased by Titusville-based SBI Leasing, Inc.

Partyka said this is the fourth former Whistle Junction restaurant sale handled by NAI Realvest this year, including locations in Melbourne, St. Cloud and Jacksonville.

For more information contact:
Paul P. Partyka, Managing Partner/Principal NAI Realvest, 407-875-9989, ppartyka@realvest.com
Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142