Arbor Closes Almost $8M in Two New Fannie Mae DUS Loans

Avalon Apartments in August, GA Gets $3.1M Loan

UNIONDALE, NY (Feb.26, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,127,600 loan under the Fannie Mae DUS® product line for the 64-unit complex known as Avalon Apartments in Augusta, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.

The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to provide financing for a repeat client of Arbor,” said Edwards. “The property is well-positioned in the market and we look forward to future opportunities with this long-term client.”

$4.62M  Loan Closed for Cloverly Park Apartments in Philadelphia, PA

UNIONDALE,, NY (Feb.  26, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,620,000 loan under the Fannie Mae DUS® Loan product line for the 52-unit complex known as Cloverly Park Apartments in Philadelphia, PA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.14 percent.

The loan was originated by John Kelly, (bottom  left photo) Vice President, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to provide permanent financing on this recently renovated asset, which benefited from the client’s excellent job during the construction,” said Kelly.

“We look forward to working on other similar projects that are currently underway in the same market.”

Contact:  Kelly Maxey, KMaxey@arbor.com

HUD's New Lean Funding Program Comes at Auspicious Time, Says Cambridge Chairman

CHICAGO, IL--Timing for the introduction of HUD’s new Lean funding programs immediately following Labor Day in September 2008 could not have been more auspicious, finance expert Jeffrey A. Davis (top right photo) suggests.

“Although no one planned it that way, the timing was essentially simultaneous with the global financial meltdown and changes in worldwide capital markets. Fortuitously, HUD Lean came into existence at an extremely critical and vital time when the industry needed it most,” he observes.

Davis is Chairman of Cambridge Realty Capital Companies, one of the nation’s leading FHA-approved HUD 232 healthcare lenders. Counting both conventional and FHA-insured transactions, the company has closed senior housing/healthcare loans totaling more $3 billion since the early 1990s.

In developing its new program, Davis says that HUD’s goals in adopting the Lean concept and strategies have focused on the development of a standardized product and a more effective, fair and reliable way of delivering it.

In a significant shift, responsibility for processing HUD loans moved from HUD field offices to FHA’s Office of Insured Health Care Facilities (OIHCF) in Washington, D.C. Effectively, the agency now provides a single source for program and policy development and a more consistent and user-friendly platform for borrowers and lenders.

“It’s a much more efficient system than in the past when HUD lenders had proprietary relationships with different HUD field offices in different areas of the country. Such arrangements made it extremely difficult for national lenders to operate either competitively or effectively in all markets.

“With the changes made, HUD has effectively leveled the playing field by creating a single set of rules for all players,” Davis said.

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

$12.5M Development Site Hits the Market in Nevada

LAUGHLIN, NV– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 960,000-square foot, 20.81-acre marina-front development site and 8.77 acres of Laughlin Bay Marina, the only full-service private marina in Nevada and on the Colorado River. The properties are being offered as a portfolio but may be purchased separately.

Frank Pour, a senior associate in the firm’s Encino office, is representing the seller.

John Vorsheck,  (middle right photo) regional manager of Marcus & Millichap’s Las Vegas office, is also providing representation.

“The Laughlin Bay Marina development project was approved through the efforts of U.S. Senator Harry Reid from Nevada,” says Pour. “This project complements other casino, hospitality and marina operations in the area.”

“The Laughlin Bay Marina is a true oasis in our desert,” said Reid. “This development marks resurgence in growth and the economy, while respectfully protecting the surrounding environment.”

The offering is located at 4000-4040 Marina Lagoon Drive in Laughlin, on the state-protected Laughlin Bay lagoon.

The Laughlin Bay Marina development site is comprised of entitled, graded residential land for 521-marina-front town homes and a recently completed 5,409-square foot clubhouse with fitness center, pool and spa.

There is also a lit boardwalk area with gazebos, sandy beaches and recreational areas. The site is listed for $5 million.

The Laughlin Bay Marina features 110 boat slips, 48 jet-ski slips, a five-story 20,133- square foot climate-controlled boat storage facility, a three-lane launch ramp with operator’s apartment, a 7,280-square foot banquet room with manager’s office and apartment, a restaurant with full commercial kitchen and a lounge/bar.

The property is zoned H1 – hospitality with gambling overlay – Nevada’s highest designation for commercial land developments. The listing price for the marina and other completed structures and facilities is $7.5 million.

The city of Laughlin, Nevada, is located 90 miles south of Las Vegas on the Colorado River. More than 21 million people live within six hours of Laughlin. Los Angeles is approximately five hours away.

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

Marcus & Millichap Capital Corp. Arranges $1.9M Financing for Apartment Building in Valley Village, CA

VALLEY VILLAGE, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $1.9 million refinancing loan for a multifamily property in Valley Village.

Adam Petriella, (top right photo) a vice president capital markets in the firm’s West Los Angeles office, arranged the loan for the property.

“The borrower’s circumstances required MMCC’s hands-on involvement with his advisors,” says Petriella. “The borrower took cash out and we were able to close the loan in fewer than 60 days.”

The loan has a loan-to-value of 60 percent and a 6.25 percent interest rate, fixed with no prepay.

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

C&W negotiates 2 new leases for Berry Town Plaza in Davenport, FL

ORLANDO, FL – Cushman & Wakefield Associate Director Mindy Boehm (top right photo)  announced two new leases for Berry Town Plaza in Davenport. Both transactions closed on February 2.

Boehm represented the landlord in a 3-year lease for Edy’s Ice Cream Shop and discounted attraction tickets sales office.

Boehm also represented the landlord in a 2-year lease for Number 1 Broker, a real estate office performing brokerage, funding and property management services.

Contact: Brook Hines. Tel: 407-541-4401, brook.hines@cushwake.com, http://www.cushwake.com/

Ramada Strikes Again! Signs Fourth Management Agreement in Bangkok

PARSIPPANY, N.J. (Feb. 25, 2009) – Following an announcement last September about its first management agreements in Thailand, Wyndham Hotel Group, the world’s largest hotel company with more than 7,100 hotels under 11 brands, today announced the signing of the company’s fourth management agreement in Bangkok.

The Ramada® Plaza Sukhumvit, (top left rendering)  currently being developed by Kijsompong Co. Ltd., will be located on Soi 15 Sukhumvit Road. The 300-room hotel will feature one restaurant, a lobby lounge, rooftop bar, meeting facilities, a swimming pool and fitness facilities. The hotel is expected to open in late 2013.

“Bangkok is an important business and leisure destination in the Asia Pacific region and we are excited to be extending our management platform there,” said Tom Monahan, (bottom right photo)  Wyndham Hotel Group executive vice president of international development. “This hotel will further the brand’s reach and clearly position Ramada as a strong, vibrant and leading brand in the country.”

Wyndham Hotel Group has a managed portfolio of nearly 30 properties around the globe, including the 162-room Wyndham Grand London Chelsea Harbour in London; the 600-room Wyndham Rio Mar Beach Resort and Spa in Rio Grande, Puerto Rico; and the recently opened 588-room Wyndham Xiamen in Xiamen, China.

Contact: Christine Da Silva, +1 (973) 753-6590, christine.dasilva@wyndhamworldwide.com

NAIOP Central Florida Names Ron Rogg Investment Property Broker of the Year

ORLANDO, FL--Ronald J. Rogg,  (top left photo) CCIM was awarded the title "Investment Property Broker of the Year - 2009" at the "Best of the Best awards Gala presented by the Central Florida Chapter of NAIOP. This is the fifth consecutive year this title has been bestowed on Mr. Rogg.


Ron was also recognized for completing the largest Central Florida transaction of the year with the investment sale of the 315,000 square foot Quorum Center project.

Contact:  pcgorlando@cbremarketing.com

RealtyTrac Partners with RealtyJoin to Launch New Online Social Networking Forum for Real Estate Investors

IRVINE, CA – February 25, 2010 – RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today announced a strategic agreement with RealtyJoin™ (www.realtyjoin.com), a new and exciting social networking site that allows real estate investors to connect with the people who can help them profitably invest in real estate: agents, brokers and other real estate professions — all 100 percent free.

"RealtyJoin brings key components of social networking to play for real estate investors, home buyers and sellers and real estate professionals," said Rick Sharga, (top right photo) senior vice president of RealtyTrac.

"We believe that our current members will benefit from these interactions, and that by participating in RealtyJoin we will expose the benefits of RealtyTrac's products and services to a broad audience of prospective new members as well."

“RealtyJoin is on a fast growth trajectory, and aims to be one of the most popular real estate social networking sites by the end of 2010,” said Andy Heller (bottom left photo) , co-founder of RealtyJoin. “If you want to succeed in the real estate field, you can’t be a well-kept secret.

"Others need to know who you are and what you are looking to do. You need an easy way of reaching out into your community and finding the customers and vendors that will help your business thrive. RealtyJoin is the first social networking site for the entire real estate industry."

To view questions and answers or to post a question, visit  http://www.realtyjoin.com/

Arbor Closes $4M Fannie Mae DUS® MAH Coop Loan for Fox Ridge Townhouses in Topeka, KS

UNIONDALE,  NY (Feb.  25, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,000,000 loan under the Fannie Mae DUS® MAH Coop Loan product line for the 200-unit complex known as Fox Ridge Townhouses in Topeka, KS.

The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.49 percent.

The loan was originated by Michael Jehle, (top right photo)  Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The 200 members of Fox Ridge Cooperative have major renovation plans with the proceeds from our loan,” said Jehle. “They are thrilled to have refinanced at such an attractive interest rate fixed for 30 years.”

Contacts:
Ingrid Principe, iprincipe@arbor.com
Kelly Maxey, kmaxey@arbor.com

Arbor Closes $1.25M Fannie Mae DUS® Small Loan for Willow Brook Avenue in Los Angeles, CA

UNIONDALE, , NY (Feb.  24, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,250,000 loan under the Fannie Mae DUS® Small Loan product line to for the18-unit property known as Willow Brook Avenue in Los Angeles, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.43 percent.

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

 “The sponsors were able to purchase this property at a steep discount, enabling us to refinance their existing debt and provide them with cash out within five months of their purchase,” said York. “This deal highlights Arbor’s unique ability to offer aggressive financing terms in an overall difficult lending environment, which definitely pleased our client.”

Contact: Kelly Maxey, Arbor Commercial Mortgage, 333 Earle Ovington Blvd, Ste. 900, Uniondale, NY 11553, PH 516.506.4602, kmaxey@arbor.com

HFF closes $31.25M sale of Gables Rothbury in suburban Washington, D.C.

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Gables Rothbury (top left photo) , a 204-unit, Class A multi-housing community in Montgomery Village, Maryland.

HFF managing director Dave Nachison (middle right photo)  and director Alan Davis (bottom left photo)  led the marketing efforts on behalf of the seller, Gables Residential.

Avalon Bay Communities, Inc. purchased the property for $31.25 million, all cash.

Gables Rothbury is located at 20120 Rothbury Lane approximately 21 miles northwest of Washington, D.C. via Interstate 270 in Montgomery Village, Maryland.

Completed in 2005, the property has one-, two- and three-bedroom units averaging 1,111 square feet each. Community amenities at the 96% occupied complex include a fitness center, swimming pool, business center, conference room, resident library, community room with billiard table, picnic area with grills, children’s playground, storage units and 48 attached garages.

“Gables Rothbury is the highest quality multi-housing property in the Gaithersburg/Germantown submarket. It is uniquely positioned to benefit from favorable fundamentals such as strong demand from consistent population and job growth. Future supply constraints due to the current economic climate will ensure superior operating performance,” said Nachison.

Gables Residential is a privately owned REIT, which owns, develops and manages multi-housing communities and mixed-use developments in Atlanta, Austin, Dallas, Houston, South Florida, Southern California and metropolitan Washington, D.C.

Additionally it has third-party management operations in the Chicago, New York, Phoenix, central and North Florida and Washington state markets. Currently, the company manages more than 35,000 apartment homes, owns 63 communities with nearly 17,000 units and has an additional 20 communities in lease-up or under development.

AvalonBay Communities, Inc. is in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in the high barrier-to-entry markets of the United States. These markets are located in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest and Northern and Southern California regions of the country.

Contacts:

David R. Nachison, HFF Managing Director, (202) 533-2500,  dnachison@hfflp.com
Alan M. Davis, HFF Director (202) 533-2500,  adavis@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing,  (713) 852-3500krmurphy@hfflp.com

HFF arranges $7.6M refinancing for Indianapolis multi-housing complex

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $7.6 million refinancing for Auburn Hill Apartments, (top left photo) a 160-unit multi-housing complex on the west side of Indianapolis, Indiana.

HFF managing director Jon Everson  (bottom right photo) worked on behalf of Auburn Oaks LLC to secure non-recourse permanent financing through a HUD 223(f) loan.

The borrower obtained a fixed rate of 4.95% (plus mortgage insurance), 35-year term and 35-year amortization.

Auburn Hill Apartments is located at 840 Auburn Hills Drive just east of the full interchange between Interstate 465 and 10th Street, approximately six miles west of downtown Indianapolis. The property was completed in 1997.

Contacts:

Jonathan P. Everson, HFF Managing Director, (317) 630-3191, jeverson@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

$18M financing for DC’s 1100 G Street, NW arranged by HFF

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $18 million in financing for 1100 G Street, NW, (top left photo)  an 11-story, 109,959-square-foot office building in Washington, D.C.

HFF director Dan McIntyre (middle right photo)  worked exclusively on behalf of the borrower, a venture composed of a value-added fund advised by UBS Global Asset Management and entities controlled by the J Street Companies, in arranging the three-year revolving line of credit with TD Bank.

1100 G Street, NW is located at the corner of 11th and G Streets, three blocks west of the Verizon Center (bottom right photo)  and across the street from Metro Center in the heart of the East End submarket of Washington, D.C.

 The free-standing property is 85% leased and features a three-level underground parking garage and 10,000-square-foot floor plates, which are “ideal for the District’s significant base of medium-sized tenants”.

A major renovation to the property is well underway including upgrades and restorations to the exterior façade and entry, main lobby, common area corridors and restrooms.

With more than 32 years of real estate investment advisory experience, the US real estate business of UBS Global Asset Management has approximately $12.9 billion under management on behalf of over 300 clients.

In addition to its US real estate business, UBS Global Asset Management, Global Real Estate also manages investments in Europe, Asia and Australia, totaling more than $54 billion in real estate and real estate securities worldwide.

In the US it operates through its legal entities, UBS Realty Investors LLC and UBS AgriVest LLC, registered investment advisors.

Contacts:
Daniel J. McIntyre, HFF Director, (202) 533-2500, dmcintyre@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852 3500, krmurphy@hfflp.com

HFF closes sale of Class A office building in Houston's Westway Park

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Cameron International Building,(bottom left photo)  a 210,000-square-foot, Class A office building within Westway Park in Houston, Texas.

The HFF investment sales team was led by senior managing directors Robert Williamson (top right photo)  and Jeff Hollinden (top left photo)  and associate director Barbara Guffey (bottom right photo) , who marketed the property on behalf of the seller, Beltway Assets LLC.

 A 1031 exchange entity controlled by Potamkin Automotive purchased the building for an undisclosed amount and assumed the 15-year remaining term mortgage.

Cameron International Building is located at 4646 West Sam Houston Parkway between Interstate 10 and U.S. Highway 290 in the 150-acre master-planned Westway Park campus in west Houston.

Completed in 2001, the nine-story, single-tenant property serves as the division headquarters for Cameron International’s Drilling and Production Systems group. The property also includes a 570-space parking garage.

“Cameron’s long-term lease matched with equivalent term in-place financing made the Cameron International Building a perfect candidate for a 1031 like-kind exchange,” said Williamson.

Contacts:

Robert E. Williamson, HFFSenior Managing Director, (713) 852-3500, rwilliamson@hflp.com
Jeffrey A. Hollinden, HFF Senior Managing Director, (713) 852-3500, jhollinden@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

MachineWorks Announces Lease to GSA, Indian Health Services in Portland, OR

PORTAND, OR– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented MachineWorks LLC in the lease of 19,431 square feet at MachineWorks Building (centered photo below) to the U.S. General Services Administration, Indian Health Services. Indian Health Services has executed a 15-year lease and will occupy the entire 8th floor of the building, bringing the building to 90 percent leased.

In October 2009, McCormick & Schmick’s Seafood Restaurants leased the entire 7th floor totaling 19,250 square feet for its new Portland headquarters and in December 2009, The Portland Dermatology Clinic signed a 10-year lease for the entire 6th floor totaling 19,482 square feet.

"MachineWorks was delivered in the worst economic market in memory and we are thrilled to be hitting the 90-percent leased milestone after just 12 months. We are pleased that these three organizations chose to make MachineWorks their new home and know that their employees will fully enjoy the building's sustainable features," said Al Solheim,  (bottom left photo) MachineWorks’ managing partner.

Keith Lavey, vice president, Government Services Group, and David Squire, executive vice president and managing director, Eric Haskins, vice president and Brandon Frank, senior associate, with Grubb & Ellis’ Portland office represented MachineWorks LLC . Hans Kemp, Conan Lee and Julie Stoner of Jones Lang Lasalle represented the General Services Administration in the transaction.

Located at 1414 NW Northrup St., MachineWorks is a 209,000-square-foot mixed-use project, incorporating four levels of Class A office space totaling 70,844 square feet, a state-of-the-art LA Fitness Facility and three levels of parking. The project boasts a Pearl District location, pursuing LEED® Gold-certified sustainable design, great proximity to the freeway and the Central City Streetcar and superior views to the West Hills, Willamette River and beyond.

Contacts:
 Patricia Raicht, 503.972.5456, Email: patricia.raicht@grubb-ellis.com
Al Solheim, Phone:  503.294.0600, solheim@awsrealestate.com