Emerson International Leases 11,456 SF to World Travel Center in Altamonte Springs, FL

ALTAMONTE SPRINGS, FL - Emerson International recently negotiated new lease agreements that total more than 16,000 square feet of office space in three office facilities.

Eric Emerson,(top right photo)  president of Emerson International in Orlando, said World Travel Holdings leased 11,456 square feet of office space at 307 Altamonte Lakes Drive in Altamonte Lakeside Park in Altamonte Springs.

 Sean Westcott, director of leasing at Emerson International, negotiated the lease agreement representing the landlord. John Gay (bottom left) of CRESA represented World Travel Holdings.

GeoMed, LLC, leased 2,896 square feet of space at Emerson International’s CenterPointe II office building, located at 220 Central Parkway in Altamonte Springs.

Kenneth Koch, commercial portfolio manager at Emerson International, represented the landlord in the lease agreement. Aaron Gray of Grubb & Ellis

Commercial Florida represented GeoMed.

Resell CNC, LLC, leased 1,861 square feet of space at 2600 Maitland Center Parkway in Maitland Center. John Gilbert of CBRE represented the landlord.

For more information, contact:
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Cuhaci & Peterson Architects Awarded Contracts to Design Remodels Of Three Sweetbay Supermarkets in Tampa and Fort Myers, FL

ORLANDO – Cuhaci & Peterson Architects, LLC, based in Orlando’s Baldwin Park, which ranks as one of the nations most experienced designers of retail space, was recently awarded contracts to design remodeling efforts at Sweetbay Supermarket facilities in Tampa, Pinellas Park and Fort Myers.

Lonnie Peterson, (top right photo)  chairman of Cuhaci & Peterson Architects, said the 59,000 square foot Sweetbay Supermarket in Pinellas Park is one of the supermarket chains largest stores.

The two additional design projects are the Sweetbay Supermarkets on Gandy Blvd. in Tampa and on Bayshore Blvd. in Fort Myers, each comprise 27,000 square feet of space.

For more information, contact:
Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;
Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Arbor Closes 3 Fannie Mae Loans Totaling $27.55M

1922 McGraw Avenue Cooperative in Bronx, NY Gets $1.85M

UNIONDALE, NY- - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,850,000 loan under the Fannie Mae DUS® Cooperative product line for the 53-unit complex known as 1922 McGraw Avenue Cooperative in Bronx, NY.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05 percent.

The loan was originated by Edward Petti, (top right photo)  Director, in Arbor’s full-service New York, NY lending office. “We were pleased to successfully deliver a 10-year interest-only loan in accordance with the borrower’s wishes.”

Seminole Apartments in Baltimore, MD Receives $3.9M

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,900,000 loan under the Fannie Mae DUS® Multifamily Affordable Housing (MAH) product line for the 84-unit complex known as Seminole Apartments in Baltimore, MD.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.21 percent.

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

“The Sponsors purchased this property in distress and after rehabbing the majority of units were able to bring the occupancy up to 100% within a six-month period,” said York. “By the time Arbor closed the loan, the property had been 100% occupied for 12 consecutive months, which is a testament to the Sponsor’s management capabilities.

" This was our third transaction with the Sponsors, which demonstrates the importance Arbor places on financing repeat clients. Our clients were very pleased with the final loan terms and we look forward to growing our financial partnership with them.”

Hilltop Portfolio IN New York City Obtains $21,810,800

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $21,810,800 loan under the Fannie Mae DUS® Loan product line for the 317-unit complex spread over eight buildings and 23,710 square feet in New York, NY and is known as Hilltop Portfolio.

The 6.5-year loan amortizes on a 30-year schedule and carries a note rate of 5.41 percent.

The loan was originated by Edward Petti, Director, in Arbor’s full-service New York, NY lending office. “The borrower had 90 days to pay off the loans on these properties and the borrowing entity structure was very complicated,” said Petti. “There were many moving parts and a great cooperative effort between Arbor and Fannie Mae, with us ultimately closing on the 90th day.”

 
Contact:  Ingrid Principe, iprincipe@arbor.com

1,450 New South Beach Condos Unsold

MIAMI BEACH, FL--Nearly 1,450 of the 5,600 new condominium units developed in Miami Beach's trendy South Beach neighborhood were still unsold as of January, according to a new report from CondoVultures.com.

The unsold units represent 26 percent of the new inventory created since 2003 in 37 condominium projects developed in a 24-block stretch of the barrier island neighborhood.

South Beach is defined as South Pointe Drive north to 24th Street, the Atlantic Ocean west to Biscayne Bay, according to the report produced using the Condo Vultures® Official Condo Buyers Guide To South Beach™.

"South Beach is some of the most expensive real estate in South Florida as the inventory is limited and the demand is infinite given the international exposure the barrier island neighborhood receives," said Peter Zalewski, (bottom right photo)  a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC

. "Prices have remained surprisingly high in South Beach despite the problems that have plagued the overall South Florida market.

"The strong international demand for sun, surf, and sexiness has made South Beach one of the few South Florida submarkets where developers and lenders are not negotiating to any great extent on price."

Since 2003, developers have successfully closed nearly 4,150 newly created condo units for nearly $3 billion, an amount that works out to an average of $891,000 per unit and $773 per square foot, according to a new Condo Vultures® White Paper™.

Contact:  Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com Don't forget to

William G. Carroll Joins Liberty Property Trust as Regional Property Manager

TAMPA, FL – - Liberty Property Trust (NYSE:LRY)  announced that William G. Carroll has joined Liberty Property Trust as a Regional Property Manager. In his new role, he will be responsible for overseeing the property management of Liberty’s Southern region portfolios, including Jacksonville, Orlando, Tampa, South Florida, Houston and Phoenix.

“Bill is a true asset to our company, bringing more than 27 years of vast experience in the industry,” said Robert Goldschmidt (top right photo) , senior vice president and regional director at Liberty. “In this role he will bring even greater consistency to property management in our buildings across the Southern regions by helping to guide our property management teams in all aspects of the job.”

Carroll will focus on tenant retention and portfolio growth as well as maximizing Liberty’s property value. In addition, Carroll will oversee a team of six senior property managers caring for approximately 665 tenants in 180 properties (totaling more than 15 million square feet of office, flex and industrial space). In addition, Carroll will be based out of the company’s South Florida office.

Media contact: Margo Hunt Winans, a.s.a.p.r. public relations & marketing, 757/404-8653, margo@asapr.com,  http://www.asapr.com/

General Inquiries: Robert Goldschmidt, Liberty Property Trust, 813/889-3712

Fitch Expects to Rate Reckson Operating Partnership's $250MM Sr. Unsecured Notes 'BB+'

NEW YORK, NY, Mar. 11,  2010--Fitch Ratings expects to assign a 'BB+' rating to the $250,000,000 senior unsecured notes offered by Reckson Operating Partnership, L.P. (Reckson), a wholly-owned subsidiary of SL Green Operating Partnership, L.P. (SL Green OP). Reckson, with SL Green OP and SL Green Realty Corp., as co-obligors, has commenced an offering of $250 million aggregate principal amount of senior notes in a private offering.
 
 
Fitch Rates ProLogis' $1.1B Sr Notes & $400MM Sr Convertible Notes 'BBB'; Outlook Negative
 

 Fitch Ratings assigns the following credit ratings to ProLogis (NYSE: PLD):
--$800 million principal amount senior notes due 2020, with a coupon rate of 6.875%, 'BBB';
--$300 million principal amount senior notes due 2017 with a coupon rate of 6.25%, 'BBB';
--$400 million principal amount senior convertible notes due 2015 with a coupon rate of 3.25% and an initial conversion price of $17.29 representing a 29% premium to ProLogis' share price on March 9, 2010, 'BBB'.
 
 

Fitch Upgrades Centerline's CMBS Servicer Ratings Due to Sale


Fitch Ratings upgrades Centerline Servicing Inc.'s (CSI) commercial mortgage-backed securities (CMBS)
servicer ratings as follows:

--Primary servicer rating to 'CPS2-' from 'CPS3+';
--Special servicer rating to 'CSS1-' from 'CSS2'.

Fitch Downgrades BRE Properties' IDR to 'BBB-'; Outlook Stable


 Fitch Ratings has downgraded the Issuer Default Rating (IDR) and outstanding obligation ratings of BRE Properties, Inc. (NYSE: BRE) as follows:

--IDR to 'BBB-' from 'BBB';

--Unsecured revolving credit facility to 'BBB-' from 'BBB';
--Senior unsecured notes to 'BBB-' from 'BBB';
--Convertible senior notes to 'BBB-' from 'BBB';
--Preferred stock to 'BB' from 'BB+'.
For complete details on above transactions, please contact: 
Sandro Scenga, Senior Director, Corporate Communications, Fitch Ratings, +1-212-908-0278

sandro.scenga@fitchratings.com

NHL and Hershey Canada Sign Three Year Partnership Deal

Hershey’s® Chocolate Stanley Cup® Becomes ‘Sweetest’ Addition to the NHL

Stanley Cup winner Nick Kypreos (left)  helpsNHL Executive Vice President Brian Jennings (center) and Hershey Canada Vice-President and General Manager Matt Lindsay (right)  unveil the Hershey’s® Chocolate Stanley Cup®. Made of Hershey’s Milk Chocolate, the new Cup celebrates the announcement that Hershey Canada is now the official Chocolate & Candy of the NHL in Canada. (Photo: The Hershey Company)

 

TORONTO--(BUSINESS WIRE)--Today, Hershey Canada Inc. and the National Hockey League (NHL), unwrapped the details of their new agreement - an exclusive three year partnership in Canada.

 In celebration of this new partnership, Hershey Canada and the NHL® unveiled the one-of-a-kind Hershey’s® Chocolate Stanley Cup®, a milk chocolate replica of the most famous trophy in the sporting world, the Stanley Cup®.

Handmade by Canadian Sitram Sharma, Master Chocolatier at Toronto’s National Club, the one-of-a-kind Hershey’s® Chocolate Stanley Cup® is a masterpiece and was carved from more than 150 pounds of Hershey’s® smooth, creamy milk chocolate and took more than 12 hours to make.

True to its inspiration, it stands nearly three feet high and is a life-sized replica of the original Lord Stanley’s Cup.

 The Hershey’s® Chocolate Stanley Cup®, a replica of the Stanley Cup made of more than 150 lbs of Hershey’s smooth, creamy milk chocolate. The new Cup celebrates the announcement that Hershey is now the official Chocolate & Candy of the NHL in Canada. (Photo: The Hershey Company)


The new multi-year partnership will begin with a consumer promotion to support the 2011 Bridgestone NHL Winter Classic®. The promotion, which will be in stores August 2010 through February 2011, will feature prizing including a trip to the 2011 Bridgestone NHL Winter Classic, to attend a team practice and to skate on the official NHL ice.

Hershey Canada will develop unique and exciting consumer programs around the new partnership featuring the following brands: Hershey’s®, Oh Henry!®, Reese®, Twizzlers® and Ice Breakers®. Hershey Canada official designations in Canada will include:
 Official Chocolate & Candy of the NHL®

• Official Confectionery Partner of the Bridgestone NHL Winter Classic®
• Official Confectionery Partner of the Stanley Cup Playoffs®
• Official Confectionery Partner of the NHL® All-Star Game

 

The National Hockey League, founded in 1917, is the second-oldest of the four major professional team sports leagues in North America.

 Today, the NHL consists of 30 Member Clubs, each reflecting the League's international makeup, with players from more than 20 countries represented on team rosters.

 According to a Simmons Market Research study, NHL fans are younger, more educated, more affluent, and access content through digital means more than any other sport.

The NHL entertains more than 100 million fans each season in-arena and through its partners in national television (VERSUS, NBC, TSN, CBC, RDS, RIS, NASN, ASN and NHL Network) and radio (NHL Radio, Sirius XM Radio and XM Canada).

Through the NHL Foundation, the League's charitable arm, the NHL raises money and awareness for Hockey Fights Cancer and NHL Youth Development, and supports the charitable efforts of NHL players. For more information on the NHL, log on to NHL.com.

         Pittsburgh Penguins (above photo), current Stanley Cup champions.

 

Hershey Canada Inc. is a wholly owned subsidiary of The Hershey Company (New York Stock Exchange: HSY) that manufactures, distributes and sells confectionery, snack, refreshment and grocery products in Canada. Major brands include CHIPITS®, EAT-MORE®, GLOSETTE®, HERSHEY'S®, JOLLY RANCHER®, OH HENRY!®, REESE®, AND TWIZZLERS®.

  NHL, the NHL Shield, the word mark and image of the Stanley Cup and NHL Winter Classic and Lord Stanley’s Cup are registered trademarks and NHL Network, NHL Radio and Hockey Fights Cancer are trademarks of the National Hockey League. All Rights Reserved. © 2010 Hershey Canada Inc.

  Hershey’s, Twizzlers and Ice Breakers are registered trademarks of Hershey Chocolate & Confectionery Corporation used under license; Chipits, Eat-more, Glosette, Oh Henry! and Reese are registered trademarks of Hershey Canada Inc. Jolly Rancher is a registered trademark of Huhtamaki Finance B.V., used under license.

  Contacts:

 Veritas Communications, Lauren Cosentino, 416-482-0778/416-666-1895, cosentino@veritascanada.com

 or The Hershey Company, Anna Lingeris. 717-534-4874, alingeris@hersheys.com

or NHL, Kerry McGovern,  212-789-2172/347-853-6009, kmcgovern@NHL.com

HFF arranges $85M acquisition financing for Lantana Media Campus in Santa Monica, CA

HOUSTON, TX – The Houston and Los Angeles offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $85 million in financing for the Lantana Media Campus,  (top left photo) a 462,429-square-foot Class A office campus in Santa Monica, California.

HFF associate director Colby Mueck, managing director Mark Wintner and executive managing director Scott Galloway worked exclusively on behalf of the borrower, The Lionstone Group, to secure the fixed-rate financing through Cornerstone Real Estate Advisers, based in Hartford, Connecticut.

Houston-based Lionstone acquired the property from Maguire REIT with cash in December 2009 and closed on permanent financing in February 2010.

The property consists of four of the five buildings within the Lantana Media Campus including the 203,102-square foot Center Building, the 62,087-square-foot West Building, the 65,998-square-foot IMAX Building and the 131,242-square-foot South Building.

Contacts:

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

HFF completes $105.4M  sale of two small-balance commercial real estate loan pools

CHICAGO, IL –HFF (Holliday Fenoglio Fowler, L.P.) has  completed the sale of two small-balance commercial real estate loan pools totaling $105.4 million on behalf of a special servicer and a money-center bank.

HFF managing director Bill Mitchell (middle  left photo)  and senior managing director Stuart Salins in Chicago represented the sellers in the transaction.

The two portfolios were marketed separately and include 95 loans in 25 states. Rather than offering and then selling the loans to investors on a “bulk” or portfolio basis, which is typical in the industry for such type of loans, HFF instead was able to tap into its investment sales database and target local, strategic buyers willing to aggressively bid on individual assets.

 In total, more than 600 confidentiality agreements were executed. The assets offered were sold in 26 different transactions to 18 different local and regional buyers.

“In all, HFF’s unique approach netted 20 to 25 percent more in sales proceeds with fewer kick-out than had HFF sold the loans in aggregate to traditional large-portfolio bidders,” said Mitchell.

Contacts:
William G. Mitchell, HFF Managing Director, (312) 980-3607, wmitchell@hfflp.com
Stuart M. Salins, HFF Senior Managing Director, (312) 528-3678, ssalins@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com


HFF secures $3.3M acquisition financing for suburban Portland, OR multi-housing community

PORTLAND, OR – The Portland office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $3.3 million financing for Willow Creek, a 77-unit multi-housing community in Beaverton, Oregon.

Working on behalf of the borrower, HFF associate director Tom Wilson placed the 10-year, 5.77% fixed-rate loan with HFF’s correspondent Fannie Mae DUS Lender, M&T Realty Capital Corporation. Loan proceeds are being used to acquire the property for a purchase price of $4.8 million.

Willow Creek is located at 903 SW 185th Avenue near the intersection of SW Baseline Road and SW 185th Avenue with easy access to the MAX Light Rail Blue Line in Beaverton, approximately 10 miles west of downtown Portland. Completed in 1990, the 90% leased property has two-bedroom/two-bath units totaling 985 square feet each.

“Willow Creek represents one of the first Portland metro multi-housing acquisitions in 2010. The transaction reflects a rare opportunity to acquire a Class B asset at an attractive basis coupled with investment upside in a market with limited acquisition volume,” said Wilson.

Contacts:

Thomas F. Wilson ,HFF Associate Director, (503) 224-0444, twilson@hfflp.com
 Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Arbor Closes 2 Fannie Mae DUS® Small Loans Totaling $3.5M in Massachusetts and Connecticut

Pyramid Apartments in Hyde Park, MA Receives $1.9M

UNIONDALE, NY (Mar. 10, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,400,000 loan under the Fannie Mae DUS® Small Loan product line for the 16-unit complex known as Pyramid Apartments in Hyde Park, MA.

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

The loan was originated by John Kelly, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “Our client needed a commitment to close within 30 days of executing an application, and we met this timeline with time to spare,” said Kelly. “Arbor’s platform continues to allow for small loans to be processed efficiently and for borrowers to take advantage of excellent loan terms. We look forward to future business with this client.”

Sunny Knoll Apartments in Seymour, CT Obtains $1.615M

UNIONDALE,  NY (Mar.10, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,615,000 loan under the Fannie Mae DUS® product line for the 43-unit complex known as Sunny Knoll Apartments (middle left photo) in Seymour, CT.

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 Kelly, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to finance this asset that has been family-owned for a generation,” said Kelly. “The refinance allowed for the client to execute a capital improvement plan for continued property enhancement. We look forward to our next opportunity to work with this well-positioned ownership group.”

Contact:  Ingrid Principe, iprincipe@arbor.com

Grubb & Ellis Healthcare REIT II Acquires Lacombe Medical Office Building Near New Orleans

NEW ORLEANS (Mar.  10, 2010) – Grubb & Ellis Healthcare REIT II, Inc. today announced the acquisition of Lacombe Medical Office Building, (top left photo)  an approximately 34,000-square-foot, multi-tenant medical facility in the New Orleans suburb of Lacombe. The acquisition closed on March 5, 2010.

Located at 64030 Highway 434, Lacombe Medical Office Building is on the campus of, and physically connected to, Louisiana Medical Center and Heart Hospital, (middle right photo)  named one of the nation's 100 Top Hospitals® for cardiovascular care by Thomson Reuters in 2008. In 2009, the hospital completed a $40 million, 120-bed, 109,000-square-foot patient tower, which more than tripled its patient capacity.

“As a fully leased facility located on the campus of a thriving medical center, Lacombe Medical Office Building is an ideal acquisition for Grubb & Ellis Healthcare REIT II,” said Danny Prosky, president and chief operating officer. “Additionally, this off-market acquisition is attractively priced and will be immediately accretive to our bottom line.”
 

Lacombe Medical Office Building is 100 percent leased to five tenants, all of which specialize in the field of cardiac surgery. The property was acquired from CC Lacombe, LLC, an unaffiliated third party, represented by Doug Connell of Grubb & Ellis Company. Grubb & Ellis Healthcare REIT II financed this acquisition with cash proceeds received from its offering.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com
 
 
Richard Antczak Joins Grubb & Ellis as Vice President, Industrial Group

ROSEMONT, Ill. (March 8, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Richard M. Antczak (middle left photo)  has joined the firm as vice president, Industrial Group, effective immediately.

In this role, Antczak will provide industrial commercial real estate services for owners and users in the I-80, I-55 and I-88 industrial submarkets.

“Rich’s reputation and integrity make him a great fit for Grubb & Ellis culturally,” said Chris Lydon, senior vice president and leader of the Industrial Group in the Chicago market. “His experience and client relationships will greatly enhance our presence in the I-88, I-80 and I-55 corridors. We’re excited he has chosen to join our growing industrial team.”

Antczak was most recently a vice president with Op2mize Commercial Real Estate. Previously, he spent 10 years as a managing director with Champion Realty Advisors, where he represented clients including Kellogg’s USA, ProLogis, Ridge Realty Trust and Zenit Tool in their industrial needs in the Chicago area. Prior to starting his brokerage career with Champion, Antczak held corporate real estate and operations positions with OfficeMax and American Stores/Osco Drug for 15 years.

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


Grubb & Ellis  Expands San Francisco Peninsula Office with Three-Member Industrial Team

REDWOOD CITY, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  has expanded its San Francisco Peninsula office with the addition of an industrial team from Coldwell Banker Commercial.

Mike Davis (top right photo)  and JP Custodio  (lower left photo) join the company as vice presidents, Industrial Group, and Michael Draeger (lower right photo)  joins as an associate, Industrial Group.

Davis spent nearly nine years at Coldwell Banker Commercial. As a senior vice president, he was consistently one of the firm’s top real estate brokers in San Mateo County.

He earned Coldwell Banker’s Circle of Distinction each year and was the No. 1 producer of the Burlingame office from 2002 through 2004 and in 2007 and 2008. His clients include Avis, LSG Sky Chefs, IStar Financial and the San Francisco Examiner. Davis holds a bachelor’s degree from Southern Methodist University.

Custodio began his commercial real estate career with Coldwell Banker Commercial in 2001 and escalated to senior vice president.

During his career, he has leased and sold more than two million square feet of space throughout the San Francisco Bay area. His clients include Ammatac Corporation, Bell Law Firm and Jackson Arms. He holds a bachelor’s degree from San Francisco State University.

Draeger has four years of commercial real estate experience.

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


Bob Helterbran Returns to Grubb & Ellis as Vice President, Multi Housing Group

DALLAS (March 8, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Bob Helterbran, (bottom left photo)  CCIM, has rejoined the company as vice president, Multi Housing Group.

“In his 30 years of commercial real estate experience in the greater Dallas region, Bob has developed many long-term relationships and an in-depth understanding of the market. He is a forward-looking professional that will help us build our multi housing presence in the area, and I’m delighted he’s rejoining the team,” said Moody Younger, executive managing director, Texas.

Helterbran returns to Grubb & Ellis after spending more than two years as senior vice president of Transwestern’s Multi-family investment sales division. Prior to joining Transwestern in 2007, he spent three years with Grubb & Ellis as vice president, Multi Housing Group. Prior to joining Grubb & Ellis in 2005, he was vice president in Pinnacle Realty Management’s Multi-family brokerage division. Helterbran began his career at Coldwell Banker Commercial in 1974.

During his career, Helterbran has been involved in investment transactions valued in excess of $600 million. His clients include LNR Partners, Capmark, Centerline Capital Group, Capital One Bank, GE Capital, Helios AMC – Special Servicing Division, Ocwen Financial Corporation and Cross Equities.

Helterbran holds a bachelor’s degree from the University of North Texas. He is a member of the Greater Dallas Association of Realtors, the North Texas Commercial Association of Realtors and is active in assisting the downtown Dallas homeless shelter.

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

Cushman & Wakefield Negotiates Sale of University Park in Tampa, FL for $12M

TAMPA,, FL – Mar. 9, 2010 – Cushman & Wakefield has successfully negotiated the sale of University Park, located in Tampa, Florida near the University of South Florida, for $12 million.

University Park includes three single story garden office buildings totaling 99,234 square feet. The Property was 100% occupied at the time of sale.

Mike Davis, (top right photo)  Executive Director of C&W’s Southeast Capital Markets Group, was quoted as saying, “The sale of University Park validates Florida’s continued interest to investors and the University market’s appeal to medical and related office tenants.”

Mike Davis (Executive Director, Capital Markets) and Rick Brugge (bottom left photo), CCIM (Associate Director, Capital Markets) of C&W negotiated the sale on behalf of the seller, Arthur Hill & Company. The buyer was ESJ Capital Partners.

Contact: Marcianne Foster, 813-204-5345, Marcianne.Foster@cushwake.com

Daniel O’Connell joins D & A as branch manager in Longwood, FL

 LONGWOOD, FL— D & A Building Services Inc., a leading facility maintenance provider, is pleased to announce that Daniel T. O’Connell (top right photo)  has joined the Company as a Central Florida Branch Manager.

 O’Connell has more than twenty years of experience in sales, management and customer development. He earned a Master of Business Administration in Marketing from Babson College, Wellesley, Mass., and a Bachelor of Arts in Humanities from Providence College in Providence, R.I.

O’Connell was previously Director of Empowerment at KYAW Academic and Empowerment Center in Sanford, Fla.

PR Contact: Elaine Ingra, (407) 384-1344 elainei@pr-works.com

Arbor Closes $3.88M Fannie Mae DUS® Loan for Lakepointe Apartments in Brewerton, NY

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,880,000 loan under the Fannie Mae DUS® Loan product line for the 72-unit complex known as Lakepointe Apartments in Brewerton, NY.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.

The loan was originated by Ronen Abergel, (top right photo)  Director, in Arbor’s full-service New York, NY lending office. “This was a new borrower for Arbor, and we look forward to growing this relationship and partnering with them on future projects,” said Abergel.

Contact:  Ingrid Principe, Iprimcipe@arbor.com

TD Wood Brokers $2.95M Loan in Reno, NV

MIAMI, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing on March 1, 2010, in the amount of $2,950,000 for McCarran Buildings D1, D2 and F, located at 6490 S. McCarran Boulevard, Reno, Nevada.


Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed McCarran Buildings D1 and D2 through Thomas D. Wood and Company’s correspondent relationship with Symetra Financial in the amount of $2,375,000.

The interest rate is fixed at 7.25% for a ten-year term, based on a 25-year amortization and a loan-to-value of 65%. The 27,734 square-foot office was built in 1990.

Together they also financed McCarran Building F through Symetra Financial in the amount of $875,000. The interest rate is fixed at 7.25% for a ten-year term, based on a 25-year amortization and a loan-to-value of 45%. The 11,426 office was built in 1991.

For further information, please contact:
Steve Wood (305) 447-7820 swood@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

Apartment Realty Advisors Facilitates Sale of 248-Unit Fractured Condominium Property in Boca Raton, FL

BOCA RATON, FL — Atlanta-headquartered Apartment Realty Advisors (ARA), the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, announces that ARA’s Florida division facilitated the sale of the partially-completed 248-unit Eden Condominiums multifamily community located in exclusive Boca Raton, FL.

The transaction was arranged by ARA Florida’s Boca Raton-based team of Hampton Beebe (top right photo),  Avery Klann (middle left photo) and Marc deBaptiste (bottom right photo).

West Palm Beach, FL-based Priderock Capital Partners purchased the property from Ceebraid-Signal Corporation.

š“This property will be completed and marketed as the standard of luxury rental living in Boca Raton,” said Hampton Beebe, of ARA’s Boca Raton office, who brokered the deal.š “Priderock has approved plans in place for an extensive rehab, including completing the clubhouse and re-construction of the unfinished apartment buildings.”

Beebe is a member of ARA’s Distressed Assets Solutions Group which provides responsive, professional and knowledgeable brokerage solutions to servicers and lenders of distressed conventional multifamily, land, student and seniors housing assets.

“This exclusive listing assignment was an ideal fit for our team,” said Marc deBaptiste, one of ARA’s founding partners. “Our experience encompasses multifamily development, capital and financial structuring, and distressed asset solutions. This combination of talents paved the way for the successful marketing of this unique investment sales assignment.”

Contacts: Marti Zenor, Amy Holland or Lisa Robinson, (561) 988-8800 ext. 112, (404) 495-7300

mzenor@arausa.com, aholland@ARAusa.com, lrobinson@ARAusa.com