Grubb & Ellis Closes Largest Single Asset Office Transaction in Sacramento County in 2009

SAN FRANCISCO, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that on behalf of an institutional joint venture, the company facilitated the sale of 10000 Goethe Road in Sacramento and 1650 Harbor Bay Parkway in Alameda to a private investor.

While the actual sale price of the assets was not disclosed, the Sacramento sale is believed to be the largest single office building sale in Sacramento County in 2009.

Edward Suharski, (bottom right photo) executive vice president, and Steven Golubchik and Seth McKinnon, vice presidents, all members of Grubb & Ellis’ Institutional Capital Markets group, represented the joint venture in the transaction. The buyer represented itself.

“In the midst of the recession, our team worked closely with the seller to facilitate the sale of these buildings in a relatively short period, showing that there are still buyers in the market for quality product,” Suharski said. “We received interest from both private capital and institutional investors, but ultimately a private buyer was selected due to their offering structure and their quick close.”

Golubchik added, “Although some institutions are sitting on the sidelines, private capital investors see this current market cycle as one of the best opportunities to buy and have begun to snatch up recent offerings on an all cash basis and with very quick closings. There remains strong investor confidence in the stability and resilience of the Sacramento marketplace.”

Located within the master-planned South Bradshaw Business Center, 10000 Goethe Road is a two-story, 126,000-square-foot Class A office building that is 100 percent leased to the State of California on a long-term basis. The property was completed in 1997.

Offering approximately 64,000 square feet of space, 1650 Harbor Bay Parkway is a two-story R&D/office building that was completed in 2001. The property is accessible via the newly constructed Ron Cowan Parkway on Interstate 880, linking it with Oakland, San Francisco and the Silicon Valley. It was 89 percent occupied at the time of sale.

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

Pizzuti Solutions Completes $450,000 Milwaukee Avenue Extension to Border $30 Million Dunedin Gateway in Florida

ORLANDO, Fla. --- Pizzuti Solutions, LLC, a division of The Pizzuti Companies of Columbus, Ohio and Orlando, recently completed a $450,000 extension of Milwaukee Avenue between Main Street and Skinner Boulevard across from Mease Dunedin Hospital (top right photo) in downtown Dunedin.

Pizzuti Vice President Tom Harmer, (bottom left photo)  who manages Pizzuti Solutions, the division that focuses on the firm’s public-private programs, said the road construction project was part of the infrastructure improvements that helps to set the stage for a major $30 million redevelopment of the 4.1-acre Dunedin Gateway, a downtown parcel bordered by Milwaukee Avenue, Skinner Boulevard (S.R. 580), and Main Street.

The first phase of the planned retail and office development will include ground-floor shopping and Class A medical office space, Harmer said.

Pizzuti Solutions is also overseeing the design and construction of $1 million in streetscape improvements on Main Street between Skinner Boulevard and Milwaukee Avenue, Harmer said.

Those improvements include relocating the utilities underground, reducing lanes from four to two, providing angled street parking, installation of brick pavers and crosswalks, landscaping and decorative street lighting. Funding for the road and streetscape projects is supported by a State grant for economic development, with completion expected early next year.

For more information contact:
Tom Harmer, Vice President, The Pizzuti Companies; 407-841-0000; tharmer@pizzuti.com
Bob Monds, Director of Marketing and Communications, The Pizzuti Companies; 614-280-4058; bmonds@pizzuti.com
Larry Vershel or Beth Payan, Larry Vershel Communications; 407-644-4142; lvershelco@aol.com

The Real Estate Capital Scoreboard(r) - November 2009

CHICAGO, IL, Nov. 2, 2009 - The recovering stock market is gradually translating to more favorable conditions in the realty capital markets.

While the capital markets are relatively dormant as lenders seek to shore up the balance sheets, select life companies, banks and private funding sources continue conservatively funding transactions.

Furthermore, Mortgage REITs have reentered the market, seeking higher leverage loans, but at larger rate premiums. Greater competition from this sector will continue pressuring other lenders to offer better pricing.

Regardless of pricing, project quality and sponsorship remain tantamount as lenders stay defensive. As such, current pricing trends include the following:

* During the past month, benchmark treasury yields moved nearly a quarter percent higher, yet rates remained steady as many lenders continue using rate floors for permanent loans.

* Floating rate debt remained unchanged as prime bank customers pay floating-rate pricing starting at about 4.5%.

* While new transactions are still rare, refinancings and restructuring of loans remains in the forefront of real estate capital markets. Appraisers and investors are using band-of-investment calculations for sizing values and loans absent of any relevant market comparable data.

Given current debt pricing, capitalization rates under such models typical start at 7% for multifamily properties and 8.5% for commercial assets. Multifamily agency pricing favors securitized loans vs. balance sheet debt as the agencies CMBS markets slowly recover.

* Opportunity investors armed with significant equity capital aggressively hunt for bargain price distressed assets with pricing of 20% or more on an overall return basis using five-years or less time horizon.

* Commercial and industrial tenants with specialized space needs and multifamily projects using FHA funds, such as 221(d)(4), are the only sources of new construction demand. Return-on-cost yields start at 8% for

"definable" credit-worthy tenants; otherwise double-digit figures are more representative of current development risk pricing.

Aaron Gruen, (bottom left photo) an Advisory Board Member of the Real Estate Capital Institute notes, "The Great Recession has permanently altered consumer, investment, and governmental behavior. Both public and private sector interests which influence land use and economic development need to reset their models and practices to work out projects and plans affected by the Great Recession and to respond to the opportunities the economic recovery will present."


Contact:
The Real Estate Capital Institute(r)
3517 West Arthington Street
Chicago, Illinois USA 60624

Nat Zvislo, Research Director
Toll Free 800-994-RECI (7324)
 director@reci.com / http://www.reci.com/

Sale of Metropolitan at Pentagon Row in DC closed by HFF

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Metropolitan at Pentagon Row,(top right photo)  a 326-unit, luxury multi-housing high-rise in Arlington, Virginia.

The HFF investment sales team was led by directors Dave Nachison (middle left photo)  and Alan Davis, (bottom right photo)  who marketed the property on behalf of a partnership between Cornerstone Real Estate Advisers, a national commercial real estate advisor with approximately $8 billion of assets under management, and their locally based partner, Kettler.

Equity Residential purchased the Class A high-rise for nearly $100 million free and clear of any existing financing.

“The sale of Metropolitan at Pentagon Row signifies that there is tremendous demand for best-of-class multi-family properties in metro Washington, D.C. Investors clearly hold Washington in the highest regard among very few recognized ‘core’ investment markets nationally and globally,” said Nachison.

“Investor interest was deep and from a broad mix of institutional and private equity players including prominent interest from off-shore investors,” added Davis.

Completed in 2004, Metropolitan at Pentagon Row offers studio, one- and two-bedroom units averaging 870 square feet each. Community amenities include a rooftop resident’s lounge with kitchen, cyber café, billiards room, rooftop swimming pool, business center, fitness center, massage room, and controlled access garage parking.

There is a virtual concierge 24 hours a day, seven days a week and a 24-hour front desk and call center. The 95% leased property is located at 1401 South Joyce Street in the Pentagon City/Crystal city neighborhood of Arlington, close to downtown Washington, D.C., the Pentagon, and Reagan National Airport.

“Adjacent to the Nordstrom and Macy-anchored Fashion Center at Pentagon City and leading lifestyle retail at Pentagon Row, the neighborhood amenity base is among the very best in the region,” added Nachison.

Cornerstone Real Estate Advisers was established in 1994 to provide private real estate equity investment management services for its parent, Massachusetts Mutual Life Insurance Company, and other institutional clients including public and corporate pension funds, endowments, foundations, and insurance companies.

Equity Residential (NYSE: EQR) is the largest publicly traded owner, operator and developer of multifamily housing in the United States with more than 501 properties in 23 states and the District of Columbia.

Contacts:

David R. Nachison, HFF Director, (202) 533-2536, dnachison@hfflp.com
Alan M. Davis, HFF Director HFF, (202) 533-2508, adavis@hfflp.com
Kristen M. Murphy, Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Crossman & Co. Announces Redevelopment of City Plaza at Tampa Palms, FL

ORLANDO, Fla. --- Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, will be redeveloping City Plaza  at Tampa Palms (rendering middle left)  in Tampa.

As part of the redevelopment, Crossman & Company has negotiated a new 20-year lease with Publix Super Markets for a new 54,340 square foot facility, which will replace an existing 49,300 square foot facility Publix occupies at the center.

“We are thrilled to be working to redevelop another Publix-anchored shopping center,” said John Crossman, (top right photo)  president of Crossman & Company.

Crossman & Company recently completed redevelopment of another Publix at Southgate Shopping Center (bottom right photo)  in Lakeland.

City Plaza at Tampa Palms, located at 16041 Tampa Palms Blvd., is part of the Tampa Palms master planned development in the Bruce B. Downs Blvd. corridor, which at final build-out will include 8,400 residential units, almost one million square feet of retail space and 59,000 square feet of office space.

About Crossman & Company:

Crossman & Company is one of the largest third-party retail leasing and management companies in the Southeast with over 16 million square feet under leasing and/or management.

Founded in Orlando in 1990, Crossman & Company is a full service commercial real estate firm that advises its clients in leasing, management, development and investment sales of retail and office properties and serves clients including Publix Super Markets, Inc., Lake Nona, PREIT, and LaSalle Investment Management.

 Please visit http://www.crossmanco.com/, or call 407-423-5400 for more information.

For more information, contact:

John Crossman CCIM, President, Crossman & Company, 407-581-6218; jcrossman@crossmanco.com
Justin Greider, Senior Associate, Crossman & Company 407-581-6225; jgreider@crossmanco.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

(Bottom left photo, Publix, Plant City, FL)

Auction of 61,545-SF 10th Floor in the Plaza could bring new Boutique Hotel to Downtown Orlando

ORLANDO, FL --- Bidders eyeing the bankruptcy auction Nov. 19 of 12 office condominium suites that total 61,545 square feet of space on the 10th floor of The Plaza towers (top right photo) on Church St. and Orange Ave. in downtown Orlando may bring a new boutique hotel to downtown Orlando.

Lori Chipps, (bottom left photo)  auctioneer with Worldwide Auction Realty Services, the firm auctioning the property, said developer Cameron Kuhn (middle left photo) originally developed a concept plan for the space---the largest single floor plate available in the downtown Orlando area---as a boutique hotel.

“The hotel concept plan that was generated offers 64 studio and one bedroom hotel suites, front desk lobby, bar/lounge, service area and housekeeping space,” Chipps said. “This would make a very nice size boutique hotel or possibly even a condominium hotel, especially when you consider that The Plaza is within two blocks of the event center and Performing Arts Center.

The Plaza towers also offer restaurants, cafés, retail, and a 12-screen cinema.

Commercial condominiums to be auctioned range in size from 2,585 square feet to 7,285 square feet including four private balconies, and feature floor-to-ceiling window views of the downtown Orlando skyline.

“The space to be auctioned spans both the north and south towers including the connecting area between the two towers,” said Chipps.

The bankruptcy absolute auction will accept bids on individual suites, multiple suites or bulk purchase of all 12 suites.

Stirling Sotheby’s International Realty Auction Services conducted an auction of 55,000 square feet of office condominium space in the Plaza towers in May of 2008 that brought an average sale price of $162 per square foot.

The Plaza’s two towers total 394,000 square feet of office space, 105,000 square feet of retail/restaurant space, the 12-screen Plaza Cinema and café on the ground floor and 306 residential condominiums in the Solair tower.

The auction will be conducted live on site starting at 5 p.m. and bids will be accepted by telephone and on the Internet. For more information about the auction or to register to bid live or online, telephone 800-327-1048 or visit http://www.wwauctionservices.com/.

For more information, contact
Lori or Jon Chipps, Worldwide Auction Realty Services, 800 327-1048;
Roger Soderstrom, Stirling Sotheby’s International Realty, 407-581-7890;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407 644-4142.

Osceola County, FL Pays $775,500 for Three-Acre Tract in Orlando, FL

ORLANDO, FL--Daryl M. Carter, Trustee, et al., recently sold a 3± acre parcel along Narcoossee Road (Highway 15) to Osceola County for $775,500.00 cash. The parcel is located on the east side of Narcoossee Road, just north of Cyrils Drive. Daryl M. Carter (top right photo)  with Maury L. Carter & Associates, Inc. represented the Seller.

Contact: Joan M. Fisher, Maury L. Carter & Associates, Inc., (407) 581-6207 direct, (407) 422-3144 office, (407) 422-3155 fax, jfisher@maurycarter.com

CB Richard Ellis Orlando Brokers Sale of Manatee Woods Apartments in Bradenton, FL

CB Richard Ellis is pleased to announce the recent sale of Manatee Woods apartments, (top right photo)  a 226-unit rental community in Bradenton, Florida.

Completed in 1993, the property features 1, 2, and 3 bedroom floor plans averaging 898 SF. The property was 92% occupied at closing.

Shelton Granade (middle left photo), Luke Wickham, (bottom right photo)  Jim Bobbitt, and John Selby of CBRE exclusively represented the seller in the transaction.

Including the sale of Manatee Woods this month, CBRE’s Central Florida Multi-Housing Group has closed nearly $93 million of the approximately $134 million in apartment transactions in Orlando so far this year.

Multi-housing sales activity has continued to increase throughout the year. 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 the Central Florida Multi-Housing Group of CB Richard Ellis.

Shelton Granade, Senior Vice President , Central Florida Multi-Housing Group,T 407.839.3103, shelton.granade@cbre.com

 Luke Wickham, Director of Operations, Central Florida Multi-Housing Group, T 407.839.3130,
 luke.wickham@cbre.com

Marcus & Millichap Sells $22M REO Apartment Community in Suburban Chicago

WAUKEGAN, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Northgate Apartments, (top left photo) a 363-unit REO apartment community in Waukegan. The sales price of $22 million represents $60,606 per unit and $63 per square foot.

Scott Harris, a senior vice president investments and senior director of the firm’s National Multi Housing Group in Oak Brook, represented the seller, an East Coast-based lender. Harris also represented the buyer, an LLC organized by Monarch Investment and Management Group, a private investment group based in Colorado.

“Despite reports to the contrary, commercial real estate transactions are still closing,” says Harris. “On this transaction, the seller’s cooperation with our marketing efforts made it possible to generate significant interest in the property. In 30 days, we scheduled 30 showings of the asset and obtained 12 offers from qualified investors,” adds Harris.

The 348,930-square foot property is located on 10.76 acres at 2330 North Samson Way in Waukegan, a northern suburb of Chicago on the shores of Lake Michigan.

Northgate Apartments has a strong unit mix of 15 small one-bedroom/one-bath units, 45 large one-bedroom/one-bath apartments, 108 two-bedroom/one-bath units, 90 large two-bedroom/two-bath apartments, 90 extra-large two-bedroom/two-bath units and 15 three-bedroom/two-bath apartments.

Built in 2001, Northgate Apartments is in very good condition. Each unit has a washer, dryer, a walk-in closet in the bedroom and a balcony. Shared amenities include a clubhouse, fitness center, playground, swimming pool and tennis court.

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

Marcus & Millichap Capital Corp. Names Michael Balan Associate Director of Miami Office

MIAMI, FL– Marcus & Millichap Capital Corporation (MMMC) has named Michael Balan (top right photo) an associate director of the firm’s Miami office, according to William E. Hughes, (bottom left photo) senior vice president and managing director of MMCC.

“Michael has an impressive track record of arranging commercial real estate financing on a national scale,” says Hughes. “He brings a wealth of knowledge in arranging debt and equity finance transactions for multifamily, office, retail, industrial, and hospitality properties to his new position.”

Balan brings more than 20 years of commercial finance experience to the firm. He has been involved in more than $500 million in finance transactions. Prior to joining MMCC, Balan was the president of U.S. Capital Advisors Inc. Before that, he was vice president and lender for Amresco Commercial Finance Inc. and Bank of America.

Balan is a graduate of the University of Maryland and holds a bachelor’s degree in business management. He has a Florida mortgage broker’s license and belongs to the Mount Sinai Medical Center Foundation and Business Networking International.

Balan is a Leadership Miami Outstanding Community Service Project award recipient and is active with The Miami Beach JCC and Habitat for Humanity of Greater Miami.

Contact:  Stacey Corso, Marcus & Millichap Capital Corporation,  (925) 953-1716

Grubb & Ellis Participates in 3 Lease Deals Totaling 351,000 SF

Firm's  Fairfield Office Represents De’Longhi in 200,000-SF Lease Renewal in Wood-Ridge, NJ

FAIRFIELD, N.J.– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented De’Longhi, a leader in Italian-designed kitchen and home comfort products, in the renewal of 200,000 square feet of warehouse/distribution space at 24 and 30 Passaic St. in Wood-Ridge.

Frank Lopriore, senior vice president, Tenant Advisory Group, and John Donnelly, vice president, Global Logistics Group, facilitated the transaction on behalf of De’Longhi. The landlord, Wood-Ridge Industrial Associates, was represented by Team Resources.

“We were able to assist De’Longhi in achieving its corporate objectives, which were to remain in its current location and find cost saving solutions,” said Donnelly.

Founded in 1902, De'Longhi is the leader in innovative designed-in-Italy kitchen and home comfort products for consumers demanding both high style and long-lasting performance. For additional information about De'Longhi, please visit http://www.delonghiusa.com/.

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

Evangelical Covenant Church Buys 50,000-SF Office Building in Chicago

CHICAGO, IL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, has  facilitated the sale of 8303 Higgins Road to Evangelical Covenant Church. The purchase price for the 50,000-square-foot office building was not disclosed.

Craig Cassell, vice president and Dirk Riekse, senior vice president facilitated the transaction on behalf of Evangelical Covenant Church. Jason Streepy and Jim Ward, both senior vice presidents, represented the seller, Akton Realty.

“The property provides a centralized location with a Chicago address, great visibility and access to I-90,” said Cassell. “It was a good opportunity for Evangelical Covenant Church to purchase in this marketplace.”

Covenant is expected to take occupancy of the building in the first quarter of 2010.

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

 Intercontinental Real Estate Corp. Signs  101,436 SF Lease in Tucson, AZ

TUCSON, AZ – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented Intercontinental Real Estate Corporation in its lease of a 101,436-square-foot industrial building, located at 2929 E. Corona, to APAC Customer Services Inc. Financial terms of the 10-year lease were not disclosed.

Bill DiVito, senior vice president, and Howard Kong, CCIM, vice president, managing broker, represented Intercontinental Real Estate in the transaction.

APAC, which immediately took occupancy of 2929 E. Corona, is a leading provider of customer interaction solutions for market leaders in retail and business services, communications, healthcare, insurance and financial services, media and entertainment, and travel industries. The company plans to use the space as a call center.

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

HFF closes sale of Houston-area industrial complex on behalf of national REIT

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of Central Park Northwest, a 283,182-square-foot industrial flex service center in Houston, Texas.

HFF senior managing director Rusty Tamlyn (top right photo)  led the investment sales team on behalf of the seller, Weingarten Realty Investors. CC Realty Advisors, a national investor of retail, industrial and office properties, purchased Central Park Northwest for an undisclosed amount. The transaction was completed in 86 days from contract to close.

Central Park Northwest contains eight single-story buildings that are 81% leased. The property is situated on more than 18 acres at 2200-2501 Central Parkway and 4930 Dacoma near the intersection of Interstate 610 and US Highway 290 in northwest Houston.

Contacts:

Rusty Tamlyn, HFF Senior Managing Director, (713) 852-3500, rtamlyn@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing. (713) 852-3500, krmurphy@hfflp.com

Hunter Hotels and Matrix to Provide Unique Advisory Services to Lodging Companies with Distressed Assets

ATLANTA, GA./RICHMOND, Va. - October 28, 2009 - Matrix Capital Markets Group, Inc. (“Matrix”) and Hunter Hotels (“Hunter”) announced today that they will partner to provide advisory solutions to lodging companies with financially distressed hotel properties.

The broad array of services provided by the partnership will include the restructuring of debt, corporate recapitalization and/or the sale of some or all of the assets.

Matrix and Hunter have successfully advised on the sale of hotels for over 30 years, as well as numerous transactions involving financially distressed companies operating in or outside of bankruptcy.

 Having managed these distressed asset sales, many under Chapter 11 of the U.S. Bankruptcy Code, and with unmatched hotel industry expertise and contacts, Hunter and Matrix will be able to advise operators on the complex issues they face as they seek to de-leverage their businesses.

Tom Kelso, (bottom  left photo) a Managing Director and Principal at Matrix, said “We are excited about the advisory services that we will be able to offer through our partnership with Hunter Hotels. Our combined experiences and skill sets will provide a unique solution to help hotel owners preserve or realize as much value for their properties as possible.”

Hunter Hotels’ President Teague Hunter (top right photo)  expressed great enthusiasm for the joint venture.

"The continued stress in our industry has created a need for financial restructuring at many different companies. Matrix's long history of advising firms through difficult times, and our long history of advising hotel investors, together will give our clients access to the resources they need to thrive in the current environment."

Contact: Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297, mailto:julie@dalygray.com. 
Follow us on Twitter: http://twitter.com/dalygray

Marcus & Millichap Capital Corp. Arranges $11M Loan in Riverside, CA

RIVERSIDE, CA– Marcus & Millichap Capital Corporation (MMCC) has arranged an $11 million loan for the refinancing of a 192-unit apartment building in Riverside.

Michael Derk,  (top right photo) vice president capital markets in the firm’s Long Beach office, arranged the financing for the building.

“We were able to execute the closing of the loan with a $4 million cash-out, which is nearly impossible in a declining market, and was subject to the lender’s review,” says Derk.

 “The property had just undergone a significant rehab that negatively impacted the historical occupancy; therefore, we had to emphasize the strength of the borrower’s résumé and financial stability.”

The loan is a 10-year fixed rate loan with a 30-year amortization, a loan-to-value of 62 percent and a 5.99 percent interest rate.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716

$52M Apartment Complex Sold in Petaluma, CA by Marcus & Millichap

PETALUMA, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has sold the 492-unit Lakeville Resort  (top left photo) in Petaluma for $52 million. The sales price represents $105,691 per unit.

Stanford Jones, an executive vice president investments and senior director of Marcus & Millichap’s National Multi Housing Group in Palo Alto, and associate vice presidents investments Phil Saglimbeni and Sal Saglimbeni, also in the Palo Alto office, represented the seller, Equity Residential. Marcus & Millichap also represented the buyer, Abacus Capital Group.

“Pricing has been redefined over the past nine months to levels that are significantly below their peaks. Supported by compelling agency financing, the result is a rare opportunity to acquire assets in supply constrained markets with positive leverage,” says Jones.

“The new owner of Lakeville Resort has acquired a value-added, urban infill multifamily complex with the potential to generate a healthy income stream on a long-term basis,” says Phil Saglimbeni.

“In spite of the challenging economic environment, investors remain interested in well-located apartment assets in locations markets supported by strong fundamentals,” adds Phil Saglimbeni. “Institutional sales activity increased in the second and third quarters of 2009, a trend we expect to continue moving into 2010.”

The 461,798-square foot Lakeview Resort apartment complex at 1 Lakeview Circle is located in the southern portion of Sonoma County’s world-renowned wine country. The property is near U.S. Highway 101 and State Route 116, which provide easy access to employment centers in San Francisco, the North Bay and East Bay.


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