NAI Realvest Arranges First North American Operation for Global Leader in Crowns Industry – Pelliconi Group

ORLANDO, FL. – NAI Realvest, a leading commercial real estate services provider in the central Florida area announced the, Industrial Team of Robert Blackwell (top right photo) SIOR, principal in the firm, Sean DuPree (lower right photo) CCIM and Jim Murr (bottom left photo)  recently negotiated the lease of 86,000 square feet of industrial space for Pelliconi Group’s first location in North America.

 Pelliconi Group is a worldwide leader in the production of plastic and metal caps, crowns and closures for the bottling industry. Rick Leighton, (middle left photo)  senior vice president of Corporate Services for NAI Global, assisted in the transaction.

Pelliconi Group’s decision to locate in Orlando will result in 24 new jobs, and the facility’s location at 2501 Principal Row in Orlando Central Park in south Orlando will serve as a manufacturing base for crowns that will be shipped to two nearby bottlers.

After evaluating other potential locations, Pelliconi eventually chose Orlando for several key reasons, according to Blackwell.

“Orlando provides a central location for Pelliconi to distribute to their clients’ bottling facilities, the international airport makes it easy for Pelliconi management to reach their U.S. based facility and the Metro Orlando Economic Development Commission provided the expertise, services and resources that were critical to an international firm locating a new facility in the U.S,” Blackwell said.

“My relationship with Pelliconi Group started a few years ago, and working closely with their team and members across the NAI Global network, we were able to identify a site that met their industrial needs and positioned them closely to their customers’ bottling locations,” said Leighton.

The Pelliconi Group, based in Bologna, Italy, has three production plants in Bologna and Chieti, Italy, as well as in Cairo, Egypt. Foreign subsidiaries in France, the UK and Germany, and a worldwide network of sales and distribution has allowed them to become the world’s largest producer and exporter of crown corks. The new Florida facility will help introduce the Pelliconi Group’s products and services across North America.

NAI Global manages a network of 325 offices and 5,000 professionals in 55 countries across the globe. NAI specializes in representing large corporations with multi-market real estate requirements and was recently rated the best performing network in the 2009 Watkins Research Group survey of corporate real estate executives.

NAI Realvest is located at 2200 Lucien Way, Suite 350, in Maitland, Florida. For more information visit http://www.nairealvest.com/.

For more information about this press release, contact
Robert Blackwell, SIOR, NAI Realvest 407-875-9989, rblackwell@realvest.com;
Patrick Mahoney, President NAI Realvest 407-875-9989, pmahoney@realvest.com;
Larry Vershel Communications 407-644-4142, lvershelco@aol.com.

Foreclosure Filings Sink 21% In South Florida In 1st Quarter 2010

MIAMI, FL--Foreclosure filings in South Florida slipped by 21 percent to less than 20,000 actions initiated the tricounty region in the first quarter of 2010 on a year-over-year basis compared to more than 25,000 filings during the same period in 2009, according to a new report from CondoVultures.com.

The quarterly drop was exacerbated by a 20 percent decrease in foreclosure filings in March 2010 following a 19 percent drop in February and a seven percent drop in January, according to the report.

All three South Florida counties experienced a decrease in foreclosure filings - also known as a Lis Pendens or a Notice of Default - between January and March of 2010 with actions tumbling by 33 percent Miami-Dade County, 22 percent in Palm Beach County, and 12 percent in Broward County, according to the report based on the Condo Vultures® Foreclosure Database™.

The Foreclosure Database™ is updated every business day with the latest foreclosure filings initiated with the clerks of court in Miami-Dade, Broward, and Palm Beach counties.

"The federal government programs coupled with the pure financial feasibility of working with troubled borrowers to keep them in their homes is translating into lenders filing fewer foreclosure actions in South Florida," said Peter Zalewski, (middle right photo) a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC. "Lenders now know that a foreclosure action will take 18 months and at least $100,000 to complete in South Florida, which is three times longer and twice as expensive as back in 2007 when the crisis first began.

Once the bank owns a troubled property, the residence usually sells for about the same amount as a comparable short sale, which can be completed in a fraction of the time.

"Bankers are smart people so it is no surprise to see a change in strategy and the drop in foreclosure filings given the pure economics of the situation."

Contact:  Peter Zalewski,  800-750-0517,  peter@condovultures.com    

Wyndham Hotel Group CEO Honored for Industry Contributions

PARSIPPANY, N.J. (April 6, 2010) – Eric Danziger, (top right photo)  president and CEO of Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN), has been recognized by the Pacific Area Travel Writers Association International with the award for Lifetime Contribution in the Hospitality Industry.

The award celebrates the many contributions Danziger has made to the business over the course of his 30-year career, including the creation of Doubletree’s now famous chocolate chip cookie and the expansion of the early Starwood Hotels and Resorts portfolio, which during his three-year tenure as the company’s president and CEO, grew from 20 hotels to nearly 600.

Most recently, Danziger has continued Wyndham Hotel Group’s evolution to a true global hospitality company, placing a renewed focus on operational excellence and strategic global growth and appointing seasoned hoteliers to the company’s key leadership roles.

“I have always had an unwavering passion for the hotel business,” said Danziger. “I truly believe in the power of hospitality and travel and I look forward to the new heights to which we will take this great industry in the future.”

Danziger is the recipient of the 1999 Peace Award of the American Friends of Tel Aviv University and the 2005 Northern California Ernest and Young Entrepreneur of the Year award for Real Estate and Hospitality.

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

Barcelona Hotel Group, Dow Hotel Company Enter Agreement to Acquire Hotels

PHOENIX, AZ---Barcelona Hotel Group, a financial investment group, and Dow Hotel Company, LLC (DHC), a hotel ownership, investment and management company  announced that they have signed a letter of intent to acquire and operate hotels.

Under terms of the agreement, Dow will become a Strategic Alliance Member (SAM) and co-invest with affiliates of Barcelona to acquire first-class, full-service hotels over the next 12-18 months.

Barcelona REIT One (BR-1), a private real estate investment trust, or an affiliate of BR-1, will acquire and own the properties.

The closed-end fund, managed by Barcelona, expects to acquire up to $450 million in hotel assets. BR-1 is the first in a planned series of Barcelona-administered hotel investment funds.

As a SAM, Dow will invest in BR-1, along with institutional investors. Dow will be responsible for sourcing acquisition candidates and will operate as a third-party manager for all properties it presents and that are acquired.

Also as part of the agreement, Murray Dow, (top right photo)  president, Dow Hotel Company, has been named to the Board of Directors of Barcelona Hotel Group.

“We believe that the next several years will create exceptional opportunities to acquire hotels, reposition them and take advantage of an economic upswing,” said Richard Harkin, president of Barcelona Hotel Group.

“The industry is in the worst downturn in operating results in more than a generation. Hotel values have declined and hundreds of properties are in default.

"While there are other acquisition funds formed or forming, we believe that co-investing with a proven, well-regarded independent management company like Dow will more closely align the owner and operator and allow us to take greater advantage of the opportunities that lie ahead in the hotel industry.”
 
 Barcelona Hotel Group Contact:  Dick Harkins, Phone: 480-951-4135, harkins@barcelonahotelgroup.com
Dow Hotel Company Contact:  Jerry Daly, Chris Daly Dick Harkins, Phone: (703) 435-6293
jerry@dalygray.com

Concord Hospitality Ranks Among Top 20 Management Companies in Industry Survey

RALEIGH-DURHAM, NC—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that it now ranks among the industry’s top 20 third-party management companies, according to the latest survey conducted by Hotel & Motel Management.

In a space of 12 months, the company moved up in the rankings from 40th in 2008 to 17th in 2009 of 104 U.S. management companies listed. Concord currently owns and/or operates a total of 70 hotels, eight of which are in the greater Pittsburgh area, with two more under construction and several in the pipeline.

“We more than doubled the size of our portfolio of owned and managed hotels during the past five years, our fastest rate of growth in our 24-year history,” said Mark G. Laport (top right photo) , president and CEO of Concord.

“A significant part of that growth occurred in the Pittsburgh area, where we are about to open our ninth hotel—a 110-room SpringHill Suites in Bakery Square.” (lower left photo)

The adaptive reuse and new construction project in downtown Pittsburgh is part of a mixed-use development being built in a former Nabisco cookie plant.

Contact: Chris Daly, Senior Vice President, Daly Gray Public Relations, ph: 703-435-6293, Follow us on Twitter: http://twitter.com/dalygray

ARA Finance Taps Former Cushman &Wakefield Executive Tom MacManus for President and COO Position

BOCA RATON, FL— Boca Raton, FL-headquartered ARA Finance, a joint venture of Apartment Realty Advisors (ARA) and CWCapital LLC  has hired Tom MacManus as President and Chief Operating Officer. MacManus will report to the ARA Finance Executive Committee, comprised of ARA and CWCapital senior executives, and will be based out of the Boca Raton, FL office of ARA.

MacManus joins ARA Finance with 30 years of industry experience.šš He previously served as Executive Vice President and head of New York City-based Cushman & Wakefield‘s Debt & Equity Finance practice.š He served in a leadership role in the firm’s acquisition of Sonnenblick Goldman in July of 2007 and was subsequently appointed Chairman and Chief Executive Officer of Cushman & Wakefield Sonnenblick Goldman – the New York-based investment banking group.š Prior to his positions at Cushman & Wakefield, he held various senior leadership positions during his nine year career with GMAC Commercial Mortgage Corp. (GMACCM).š

“We are very pleased to have someone of Tom’s caliber leading ARA Finance.š He’s a results-driven leader who will excel at taking this platform to the next level in terms of lending and lending sources,” said ARA founding principal and ARA Finance Management Committee member, Marc deBaptiste. (top right photo)

National Contacts:
Amy Holland or Lisa Robinson, Apartment Realty Advisors, (404) 495-7300,     
aholland@ARAusa.com
lrobinson@ARAusa.com, http://www.arausa.com/

Mark Williams Appointed Director in Arbor’s Denver, CO Office

Uniondale, NY (April 5, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, has announced today the appointment of Mark Williams (top right photo)  to Director in Arbor’s Denver, CO office.

 Mr. Williams is responsible for originating loans in the Rocky Mountain region using Arbor’s complete product portfolio, with a specialty in Fannie Mae DUS® and FHA transactions. He reports to Ken Fazio, (bottom left photo) Vice President, National Sales Manager.

Prior to joining Arbor, Mr. Williams served as Director of Red Capital Group, where he managed the company's Denver, CO multifamily production office.

 Before Red Capital, he sourced multifamily, office, retail and warehouse mortgage loans as Vice President of GMAC Commercial/Capmark Finance, closing over $400 million in debt and equity transactions. Over the past 10 years, Mr. Williams has completed over $1.2 billion in loans including over 11,000 apartment units totaling $750,000,000.

Mr. Williams earned a Bachelor of Arts from Whittier College. He is a member of the Apartment Association of Metro Denver and the National Association of Industrial and Office Properties. He resides in Greenwood Village, CO

Contact: Ingrid Principe, Marketing Manager, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com,/
 Follow us on Twitter @ arbor1

Marcus & Millichap Lists $40.7M ShopRite Portfolio in New York

NEW YORK, NY– Marcus &Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for two ShopRite anchored shopping centers and one freestanding ShopRite store located in Upstate New York.

Steven Siegel, (middle left photo) a vice president investments and senior director of the firm’s National Retail Group in Manhattan, is representing the seller.

“The ShopRite centers are stable, long-term investments with no management responsibility,” says Siegel. “ShopRite’s excellent reputation in the region will generate significant interest and competition for this supermarket-anchored portfolio."

"The ShopRite properties allow an investor to acquire three management-free assets: one for seven years and two for 14 years,” adds Siegel.

The three properties are:

ShopRite Plaza–Warwick, (bottom right  photo) located on Route 94 South in Warwick, N.Y., 55 miles southwest of New York City, the 80,263-square foot retail center is anchored and master-leased by ShopRite. The listing price is $21,466,952, or $267 per square foot.

ShopRite Plaza–Ellenville, located on Shoprite Blvd. in Ellenville, N.Y., approximately 100 miles northwest of New York City, the 56,555-square foot retail center is anchored and master-leased by ShopRite. The listing price is $10,000,000, or $177 per square foot.

ShopRite–Fairview Plaza, located on Healy Boulevard in Hudson, N.Y., approximately 100 miles northeast of New York City, the property is a freestanding 59,722 square foot triple-net-leased ShopRite grocery store. The listing price is $9,258,000 or $155 per square foot.

ShopRite Supermarkets Inc. is a wholly owned subsidiary of Wakefern Food Corp. ShopRite stores are among the highest volume stores in the supermarket industry.

Through nearly 60 years of service, ShopRite has built a reputation as a low-price leader while offering the five million customers it serves each week unprecedented variety and excellent customer service.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Orange County, FL Resort Tax Collections Fractionally Higher for February

ORLANDO, FL -- County Comptroller Martha Haynie (top right photo)  announced today that resort tax collections received by the County in March for the hotel collection month of February 2010 were $11,984,800. Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that February 2010 collections were roughly one percent higher than February 2009. “However, in light of the fact that February 2009 saw the biggest single month decline since 9/11, it is not yet time to celebrate,” Haynie stated.
 
 
For a complete copy of the news release and statistics, please contact:
Joan Randolph, Executive Assistant, Comptroller's Administration, 201 S. Rosalind Avenue, Orlando, Florida, 32801, Tele: 407-836-5986, Fax: 407-836-5599 or
Martha O. Haynie (407) 836-5690

NAI Realvest Named Sales, Marketing Representatives for Winter Garden Business Park in Florida

ORLANDO - NAI Realvest has been appointed exclusive sales and marketing representatives for the Winter Garden Business Park, (top left photo) a flex/office park with retail component located at 1218-1232 Winter Garden Vineland Rd., just south of SR 50 in Winter Garden.

NAI Realvest chairman George Livingston, (top right photo)  principal Christie Alexander (lower left photo)and associate Drew Saphos negotiated the exclusive sales and marketing agreement for the property which includes 92,573 square feet in eight buildings on a 7.02-acre site in close proximity to the Florida Turnpike and SR 429.

The property owner OREO Corp. awarded the listing contract on the business park which was developed in 2007 and currently is 80 percent leased.

The Winter Garden Business Park is list priced at $6,500,000.

For more information, contact:
Drew Saphos, Broker Associate, NAI Realvest 407-875-9989 dsaphos@realvest.com;
Christie Alexander, Principal, NAI Realvest 407-875-9989 Calexander@realvest.com;
George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 Glivingston@realvest.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

Mercantile Capital Corp. Reports Big Increase in Commercial Property Loans

ALTAMONTE SPRINGS - Mercantile Capital Corporation, Inc., which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reports it closed on 12 commercial loans for more than $35.7 million in total project costs during the first quarter which ended March 31.

Geof Longstaff, (top right photo) chairman of Mercantile Capital Corporation, said commercial property loans during the first quarter of 2010 represent a significant increase over the first quarter of 2009, when Mercantile Capital closed on three loans for more than $3.2 million in total project costs.

“The market is coming alive,” Longstaff said. “Small business owners are realizing that the SBA 504 loans offer several major advantages over traditional sources, not the least of which is that we have capital available and we are providing it to those small business enterprises,” he said.

The largest single loan during the first quarter---more than $7.59 million in total project costs---financed the acquisition of a Hampton Inn in Port Arthur, Calif.

Mercantile Capital Corporation is one of the most active SBA 504 lenders in the U.S., Chris Hurn, (bottom left photo) chief executive officer of the company, said.

“Our loan volume for the first quarter of this year is almost half our entire loan volume in 2009,” said Hurn, who projects Mercantile Capital Corporation will close on commercial property loans valued at more than $100 million this year.

SBA 504 commercial property loans offer below-market interest rates with only 10 percent down.

For more information about this press release, contact:
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040; glongstaff@mercantilecc.com;
Chris Hurn, CEO Mercantile Capital Corporation, 407-786-5040; churn@mercantilecc.com;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

HFF secures $37M financing for Class A office complex in St. Louis

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $37 million in first mortgage financing for Creve Coeur Center, (top left photo)  a four-building Class A office complex in St. Louis, Missouri.

Working on behalf of institutional investors advised by J.P. Morgan Asset Management – Global Real Assets, HFF senior managing director Whit Wilcox (middle  right photo)  and director Steven Klein (bottom  left photo)  placed the 10-year fixed-rate loan with John Hancock Life Insurance Company (U.S.A.).

Creve Coeur Center is located at 600 Emerson Road at the Interstate 270/Olive Boulevard interchange approximately 13 miles west of downtown St. Louis.

The complex consists of four buildings totaling 587,056 square feet that are 85 percent occupied overall. Notable tenants include EMC, Pepsi, Progressive Insurance, Bunzl Distribution and Colliers Turley Martin Tucker. Complex amenities include a fitness center, cafes and two multi-level parking garages.

“Creve Coeur Center benefits from a superior location with excellent visibility and access to Interstate 270 as well as a diverse rent roll with stable cash flows,” said Klein.

J.P. Morgan Asset Management – Global Real Assets has approximately $43 billion in real estate and infrastructure assets, as of December 31, 2009.

With a 40-year history of successful investing and a staff of 359 professionals, J.P. Morgan Asset Management – Global Real Assets identifies, analyzes, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells assets, on behalf of its clients.

J.P. Morgan Asset Management's broad investment capabilities and framework for analyzing opportunities in today's complex real estate and infrastructure markets provide critical insights for its institutional clients in both the public and private markets.

John Hancock Life Insurance Company (U.S.A.) has been in the mortgage lending business for 147 years and has a US mortgage portfolio in excess of $10 billion. Together with its parent company, Manulife Financial, it is the world's third largest life insurance company and one of the few AAA-rated stockholder-owned life insurance companies in the world. It invests over $1 billion a year in new investments.

Contacts:

Whitney H. Wilcox, HFF Senior Managing Director, (212) 245-2425, wwilcox@hfflp.com
 Steven J. Klein, HFF Director, (212) 245-2425, sklein@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Fimiani Development Brokers Sale of Yamato Plaza in Boca Raton, FL

BOCA RATON, FL – Boca Raton-based Fimiani Development announced the sale of Yamato Plaza, a 6,065 square-foot shopping center in Boca Raton. Yamato Plaza, LLC sold the property for $900,000 to Ablar Yamato LLC.

 Michael Fimiani, (top right photo)  president of Fimiani Development, handled the transaction as part of a court-appointed receivership.

Yamato Plaza (bottom left photo)  is located in the Arvida Park of Commerce on Yamato Road just west of I-95 and is adjacent to Lifetime Fitness and Hampton Inn.

Tenants include Dean Anthony’s Pizza, Fresco Food Works and Bluefin Express Sushi. In August 2009, Fimiani was appointed receiver of the shopping center and handled the property’s leasing and management.

“Yamato Plaza is an in-fill center in a desirable location which makes it an attractive property,” said Fimiani. “With a strategic marketing plan we were able fix, fill and sell the center rather expeditiously despite the challenging economy.”

Fimiani Development is a full-service firm and offers lenders the ability to work with a single source for their receivership needs.

“We handle leasing, management, tenant improvements, accounting and disposition of assets for our lender clients” said Fimiani. Fimiani Development is also handling office and residential receivership assignments.

Fimiani Development creates value by acquiring and redeveloping retail and commercial real estate projects throughout Florida. The company’s services also include acquisition and redevelopment of existing shopping centers, ground-up development of new centers, consultation in developing third-party leasing programs and performing third-party leasing and management assignments of retail and office properties.

 For more information, visit http://www.fimiani.com/.

Media Contact: Maria Pierson, 954/776-1999, ext. 222

Ground Lease Interest in New Lincoln Park Apple Store in Rosemont, IL Sold to Private Investor

ROSEMONT, IL (April 1, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that the ground lease interest of 801 W. North Ave., the future location of a new Apple Inc. store, was sold to a private out-of-town buyer.

Peter Block, senior vice president, Anne Arnold, senior associate, and Brad Teitelbaum, associate, all with Grubb & Ellis’ Private Capital Markets group, and Steve Algermissen, executive director, and Kazuko Morgan, executive vice president, both of Cushman & Wakefield, represented the seller in the transaction.

“With its high-traffic location and long-term credit tenant in place, we saw strong buyer response in this offering,” Block said.

Apple Inc. will occupy the site’s 18,000-square-foot retail building, which is scheduled to open within the next several months on the Lincoln Park property. The retailer has a 10-year ground lease on the property and options to extend its lease another 20 years.

Sterling Commerce Center in Dublin, OH Sold to Wells Real Estate Funds

ROSEMONT, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm,  announced that the company’s Institutional Capital Markets group represented Duke Realty in the sale of Sterling Commerce Center I-IV in Dublin, Ohio, to Wells Real Estate Funds.

The Grubb & Ellis team of Paul Lundstedt and Jeffrey Shell, executive vice presidents, John Ecclestone, vice president, John Gavin, executive vice president, and Richard Schuen, president of Grubb & Ellis
Adena Commercial, LLC, facilitated the transaction on behalf of Duke Realty.

“Sterling Commerce Center is a high-class property fully leased by a strong credit tenant,” said Lundstedt. “This transaction represents good forward momentum in a recovering market.”

Located at 4600-4725 Lakehurst Court and 6060 Emerald Parkway, Sterling Commerce Center is the global headquarters of Sterling Commerce Inc., a subsidiary of AT&T and leading provider of integrated telecommunications services.

The property consists of two four-story and two three-story Class A office buildings with a total of 322,679 leaseable square feet. Built between 1990 and 1998, the property offers ample parking, an attractive campus setting and close proximity to Interstate 270.

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

Houston Food Bank Buys Sysco Industrial Complex

HOUSTON, TX  (April 1, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Rob Stillwell, CCIM, SIOR, vice president, Global Logistics practice group, assisted both parties in the sale of a multi-use industrial complex owned by Sysco Corporation to the Houston Food Bank.

The complex offers a total of approximately 441,000 square feet of space that includes a 272,711-square-foot distribution center, freezer facility and truck maintenance facility, all situated on approximately 34 acres of land.

“This transaction was a real community effort led by the Houston Food Bank and Sysco with the support of many organizations and philanthropists, including the City of Houston,” said Stillwell. “It was extremely rewarding to be able to secure this transaction and have it work out so well for both parties involved. Sysco is a great corporate citizen and the Houston Food Bank does an exceptional job serving our community.”

Constructed in 1974, the distribution center is located at 535 Portwall St. The building is equipped with dry warehouse space, cooler space and office space.

 (Sysco Texas locations bottom right map)

The freezer facility, located at 555 Allen St., offers 153,341 square feet of space split among a large freezer, cool dock and small office areas. The property was built in 1991.

Offering nearly 16,000 square feet of space, the truck maintenance facility was built in 2001 on roughly 12 acres of land. The facility includes three repair bays and one wash bay, as well as a diesel fuel station.

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

Thomas D. Wood & Co. Closes 4 Loans Totaling $6.75M in Nevada, Georgia and Florida

Standard Life Provides Funds in Nevada and Florida

MIAMI, FL— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $1,975,000 for McCarran Building E and CMC Leasing.

Steve Wood, (top right photo) Company Chief Operating Officer, along with Tony Castrignano of Sky Mesa Capital, financed McCarran Building E through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $875,000.

The loan term is 5+5+5+5+5 years, based on a 25-year amortization and an interest rate of 6.75%. The loan-to-value is 50%. The 9,991 square-foot office was built in 1989 and is home to major tenant The Ribeiro Companies. McCarran Building E is located at 6490 S. McCarran Boulevard, Reno, Nevada.

Wood, along with Susan Murry of Skyline Mortgage Services, financed the CMC Leasing Office Building through The Standard Life Insurance Company in the amount of $1,100,000.

The loan term is 5+5+5+5+5 years, based on a 25-year amortization and an interest rate of 6.875%. The loan-to-value is 61%. The 10,570 square-foot office was built in 1975, and is located at 742 US Highway 1, North Palm Beach, Florida.

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

Pike Center in Lawrencevill, GA Obtains $2.8M

SARASOTA, FL, April 1, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $2,800,000 for Pike Center @ 316 in Lawrenceville, Georgia.


Brad Cox, (bottom left photo) Company Senior Vice President, financed Pike Center @ 316 through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company in the amount of $2,800,000.

The partial-recourse loan has a term of seven years, based on a 21-year amortization and an interest rate of 6.55%.

The loan-to-value is 48%. The 93,992 square-foot industrial complex was built in 1988 and 1996, and is home to major tenant Shorter College and G/R/N Community Services. Pike Center @ 316 is located at 575, 585 and 595 Old Norcross Road, Lawrenceville, Georgia.

For further information, please contact:

Brad Cox (941) 552-9731 bcox@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com