Crossman & Co. Negotiates Three New Leases Totaling More than 4,700 SF of Office and Retail Space

ORLANDO - Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, recently negotiated three new leases for professional office and retail space totaling in Orlando 4,721 feet.

Katherine Rush, (top right photo)  leasing associate at Crossman & Company negotiated all three transactions representing the landlords.

Rush negotiated a five-year lease with Jacksonville-based Five Star Vision, Inc. d/b/a Sprint for 1,900 square feet of space at 2323 S. Orange Avenue, representing the landlord, Page Street Orange Avenue, LLC.

At 6001 Vineland Rd., Rush negotiated a three-year lease of 1,646 square feet of office space with the new tenant Lions Management Services, representing the landlord, 1560 N. Orange, Ltd.

Miami-based Ecco Lab Group, is the new tenant Rush negotiated with for a one-year lease of the 1,185 square feet of professional office space at Suite F, 1130 S. Semoran Blvd., representing the landlord, Highside Investments, Inc.

Crossman & Co.  negotiates Renewal lease for more than 13,500 SF  on S. Conway Rd. in Orlando

ORLANDO – Crossman & Company, one of the largest property management and leasing firms in the Southeast, recently negotiated a three-year renewal agreement for 13,537 square feet of retail space at 5140 S. Conway Rd. in Orlando.

Katherine Rush, associate at Crossman & Company, negotiated the transaction representing the landlord Belle Isle Commons, LLC.

Fellowship of Orlando, Inc. is the tenant.

For more information, contact:

Katherine Rush, Associate, Crossman & Company 407-581-6232; Krush@crossmanco.com;
 Molly Delahunty, Crossman & Company 407-481-6220 mdelahunty@crossmanco.com;
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Wyndham Hotel Group Joins First Industry-Wide Travel Promotion

PARSIPPANY, N.J. (May 17, 2010) – Wyndham Hotel Group today announced its participation in a unique one-month promotion through DailyGetaways.com, where nearly 50 of America’s top destinations and travel brands have come together to provide once-in-a-lifetime experiences and values.

Created by the U.S. Travel Association and sponsored by American Express®, the Discover America® Daily Getaways promotion runs through June 4th and is aimed at stimulating summer travel by offering consumers an exclusive, specially priced inventory of travel products from 25 leading travel companies that include hotels, airlines, rental cars, attractions, theme parks, dining and shopping, among others.

As part of the promotion, Wyndham Hotel Group will be offering 370 hotel packages in the form of Wyndham Rewards® points that consumers may then use to create unique experiences at the company’s hotels and resorts, which include such well-known brands as Wyndham Hotels and Resorts®, Ramada®, Days Inn® and Super 8®. The offers will be available on May 18th, 2010 at www.dailygetaways.com.

“With more hotels in the U.S. than any other company in the world, it’s our pleasure to participate in this promotion and share with consumers the great quality and value that exists within Wyndham’s diverse portfolio,” said Robin Korman, Wyndham Hotel Group senior vice president of loyalty marketing and strategic partnerships. “It’s also a great opportunity to acquaint travelers with Wyndham Rewards, our robust loyalty program offering a large network of earning and redemption options in over 20 countries.”

CONTACT: Rob Myers, Public Relations Manager, Wyndham Hotel Group, 22 Sylvan Way, Parsippany, NJ 07054, +1 (973) 753-6590, rob.myers@wyndhamworldwide.com

Mercantile Capital Corp. Reports its Financed Projects Totaled $46M-Plus from January through April

ALTAMONTE SPRINGS, FL -- Mercantile Capital Corp., the Altamonte Springs lender that ranks as one of the most active providers in the nation of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reports it financed commercial real estate projects valued at more than $46 million from January through April.

Geof Longstaff, (top right photo) chairman and co-founder at Mercantile Capital Corporation, (MCC) said one loan financed Colimar, Inc.’s $6,170,000 acquisition of a cotton warehouse in Mission, Texas.

Located on the Mexican border, the warehouse operation readies cotton bales for shipment to Mexican textile manufacturers, Longstaff said.

Mercantile Capital Corporation also financed the $2,654,900 acquisition of an historical building in Pasadena, California, for Architects for Education, Inc.

Longstaff said commercial loans during the four-month period almost broke the eight-year old company’s record for loan volume in a four-month period.

“The SBA 504 loan program is gaining recognition as the most accessible, and in some cases, only lending alternative for small business owners in the U.S.,” said Christopher Hurn, (bottom right photo)  chief executive officer at MCC.

“Since we expanded our scope outside the southeast region, we are accommodating inquires every day from almost every region in the nation,” Hurn said.

Visit http://www.504experts.com/  and http://www.504blog.com/.

For more information about this press release, contact

Chris Hurn, CEO Mercantile Capital Corporation, 407-786-5040
Robin Lashley, Mercantile Capital Corporation, 407-786-5040
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Marcus & Millichap Sells 156-UNIT/ 492-Bed Student Housing Property in Oxford, MS

 OXFORD, MS, May 14, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sterling University Terrace (top left photo), a 156-unit/492-bed student housing property serving the University of Mississippi in Oxford, MS. according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

Travis Prince, (middle right photo)  senior associate, along with Dorothy Jackman, (bottom left photo)  vice president investments, represented both buyer and seller.

Michael Harris, associate in Marcus & Millichap’s Tampa office, Brent Yurtkuran, MS broker and senior associate of the firm’s Jackson office and Matt Fitzgerald, Regional Manager, assisted in closing this transaction.

Sterling University Terrace is located at 900 Whirlpool Drive. Built in 1999, this 156-unit/492-bedroom garden-style, student housing community provides a variety of furnished floor plans. The unit mix includes two, three and four bedroom units.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Cassidy Turley Officially Welcomes Harry K. Moore of Louisville

ST. LOUIS, MO /PRNewswire/ -- Cassidy Turley, a leading commercial real estate services provider in the U.S.,  announced that Harry K. Moore of Louisville, KY, has officially joined the newly integrated company. Harry K. Moore will formally be known as Cassidy Turley Harry K. Moore while transitioning to Cassidy Turley.

"We are proud to welcome Harry K. Moore to Cassidy Turley," said Mark E. Burkhart, (top right photo)  CEO of Cassidy Turley. "While we continue to expand our geographic reach and service offerings, we are dedicated to providing our clients with a greater array of services and real estate expertise."

Locally owned and operated since 1948, Harry K. Moore specializes in sales and leasing of industrial and commercial properties in Louisville and southern Indiana as well as many surrounding cities in Kentucky.

 The company has consistently ranked as a leading commercial real estate services firm by Business First - the weekly business newspaper of the Louisville region. Since 2000, Harry K. Moore has completed 2,042 transactions consisting of 53 million square feet valued at over $1.275 billion.

"We are very pleased to officially join Cassidy Turley," said Powell Spears, (top left photo) Managing Member, SIOR. "We share a solid belief in person-to-person relationships and hands-on problem solving - a strategic vision of creating value and opportunities for our clients nationwide."

Harry K. Moore offers a full range of services including Office Brokerage, Industrial Brokerage, Investment Services, Retail Services, Landlord and Tenant Representation. As a result of its dedication to client service, two of the firm's brokers recently received Greater Louisville Association Commercial Realtor of the Year awards and the company has more SIOR designations than any other commercial brokerage company in the Louisville area.

"The addition of Harry K. Moore to our team represents an important step for Cassidy Turley. It demonstrates our continued commitment to deliver integrated, tailored solutions and maximum, measurable outcomes to our clients in this competitive marketplace," added Mark Burkhart.

Cassidy Turley is a leading commercial real estate services provider in the U.S., with 420 million square feet of managed space, 58 locations and $13 billion in completed transactions for 2009. Cassidy Turley is comprised of industry-leading firms in their respective markets that share a common vision and strategy.

CONTACT: Maureen Wheeler, Cassidy Turley, +1-202-463-1138, Maureen.Wheeler@cassidyturley.com;
 Suzanne Dawson, Linden Alschuler & Kaplan, Inc., +1-212-329-1420, sdawson@lakpr.com
Web Site: http://www.cassidyturley.com/

Lloyd Berger of Berger Special Assets Named Receiver for Palm Vista in Fort Myers, FL

FORT LAUDERDALE, Fla. – Berger Special Assets, a division of Berger Commercial Realty Corp., announced Lloyd Berger (middle right photo)  has been named receiver for Palm Vista (top left photo) in Fort Myers, Fla.

The 136-unit property consists of 12 two-story buildings located at 3726 Central Ave in Fort Myers.

“We are positioned to successfully resolve the challenges of this failed property in a cost-efficient manner to restore the asset to its maximum value and occupancy,” said Berger, founder and president of Berger Commercial Realty Corp.

Palm Vista features one-bedroom/one-bath and two-bedroom/two-bath apartment units, as well as amenities such as a club house, playground, pool, and fitness center.

Berger Special Assets (BSA), a division of Berger Commercial Realty Corp., serves as receiver, management company, leasing and sales agent for distressed commercial and multi-family properties on behalf of lenders.

 Founded in late 2008, BSA grew exponentially in 2009 from nine active accounts in five cities and 16 properties to 25 cities with 128 properties, geographically expanding from South Florida to Tampa, St. Petersburg, Orlando, Daytona, the Southwest corridor and all points in between.

 In the process, Berger Commercial Realty Corp. and its subsidiaries have grown to a staff of 38 statewide.

The division continues to receive five to seven new accounts per month.

In addition to referrals from real estate attorneys and lenders, BSA now is seeing new assignments coming from debt investors acquiring distressed loan portfolios from lenders.

Berger Commercial Realty Corp., which was founded in 1998 as a full service commercial real estate firm.

 A Florida-based, independent and privately-owned firm, Berger Commercial Realty Corp. customizes services and adapts to clients’ needs, as well as to the ever changing real estate market.

 Services include brokerage/tenant and buyer representation, property management, agency/project leasing, capital advisory/investment sales, construction/project management, and retail services. Visit http://www.bergercommercial.com/.

. Broker Keith Graves Awarded CCIM Designation

FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced broker and firm principal Keith R. Graves (bottom left photo)  has been awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM Institute, one of the leading commercial real estate associations in the world.

The CCIM designation is awarded to commercial real estate professionals upon successful completion of a graduate-level education curriculum and presentation of a portfolio of qualifying experience. Graves was among 272 commercial real estate professionals who earned the designation by passing this year's CCIM Comprehensive Examination, the final component in the designation process.

Only about six percent of an estimated 150,000 commercial real estate practitioners nationwide hold the CCIM designation, which reflects not only the caliber of the program, but why it is one of the most coveted and respected designations in the industry.

CCIMs are recognized experts in commercial real estate brokerage, leasing, asset management, valuation, and investment analysis.

Graves is a member of the Realtor Association of Greater Fort Lauderdale and holds a Professional Designation of Real Property Administrator (RPA) from BOMI International. He earned his Bachelor of Science in business administration at Ashland University in Ohio.

CONTACT: Marielle Sologuren, Pierson Grant Public Relations, (954) 776-1999, ext 226 msologuren@piersongrant.com

Avalonpark Texas LP Seeking Additional Development Opportunities in Austin Metro Area

AUSTIN - Avalonpark Texas LP, a joint venture that includes Orlando, Florida-based Avalon Park Group, that recently announced the start of new residential development at The Springs at Walnut Creek in North Austin, is seeking additional development opportunities in the area.

Richard Kunz, (top right photo)  principal who heads Avalonpark Texas LP, said he is particularly interested in sites that will accommodate development of senior assisted living facilities.

Avalon Park Group, which developed the 1,860 acre Avalon Park community in East Orlando with more than 3,500 single-family homes and town homes, a million square foot Downtown Avalon Park and elementary, middle and high schools, is developing a 70,500 square foot senior assisted housing facility there with 140 independent living units and 84 assisted living units with a spa, fitness center, bistro, game room, theater, library, swimming pool, gardens and special facilities for residents coping with Alzheimer’s symptoms.


HUD has already given the $15 million facility preliminary approval with construction possibly starting later this year.


For more information,  contact:
Richard Kunz, Principal Avalonpark Texas, L.P. 512-695 3356 rkavalonaustin@aol.com;
Beat Kahli, CEO Avalon Park Group / Avalonpark Texas, L.P. 407-658-6565;
Eric Marks, Vice President, Avalon Park Group 407-658-6565, ericm@avalonparkgroup.com;
Stephanie Hodson, Marketing Coordinator, Avalon Park Group 407-658-6565;
Larry Vershel, Larry Vershel Communications 407-644-4142, Lvershelco@aol.com

Hampton Inn Fort Walton Beach Hotel Offers Free Haircuts To Support Gulf Oil Spill Cleanup Efforts

FORT WALTON BEACH, FL - May 13, 2010 – Residents along the Gulf Coast planning on getting a haircut this weekend may want to hold off until next Monday (May 17) when they can not only get a free haircut but help stem the flow of pollution from the oil spill disaster that is threatening the entire region.

The Hampton Inn Fort Walton Beach (top left photo)(http://www.ftwaltonbeach.hamptoninn.com/) in partnership with Matter of Trust (www.matteroftrust.org), an ecological non-profit organization, will sponsor free haircuts Monday, May 17th from 8:00 a.m. – 8:00 p.m.

The hair clippings will be used to create booms and mats that absorb and contain the oil. Hair is a natural absorbent of oil and the mats and booms can be reused up to 100 times.

Although the Hampton Inn Fort Walton Beach, located at 1112 Santa Rosa Boulevard, is in an area currently not affected by the Deepwater Horizon oil spill, communities are coming together to help with the Gulf’s oil spill cleanup efforts.

The goal is to collect as much as 100 cubic feet of hair which will produce at least 125 hair booms.

“Our Gulf Coast beaches are some of the most magnificent in the world,” said Hampton Inn Director of Sales Jeniffer Ward. “We live and work here and want to do everything we can to help ensure that we preserve this beautiful region.”

Area hair stylists volunteering for the “Hair Because We Care” Cut-a-Thon include stylists from Smart Style Family Salon, Raspberry Attic, Brava Hair Studio, Delores Delaney The Salon, Lather Lounge, Sheer Madness, Salon Chic and A Heavenly Place for Hair.

Other sponsors include Coca-Cola®, Jenkins Transfer & Storage, Big Day Events, Helen Back, Adonna’s Bakery, and Advance Lawn.

Area businesses and individuals are contributing towards services, supplies, transportation and storage so the booms can be made on-site and then shipped out as quickly as possible.

The Hampton Inn Fort Walton Beach hotel is designated a green lodging property from the Florida Department of Environmental Protection through the Green Lodging Program.

Located directly on the white-sand beach along Florida’s Emerald Coast, the newly renovated hotel features complimentary daily hot breakfast, local calls and wireless internet access.

Other amenities include an outdoor heated pool, exercise room, and waterfront recreation. For more information, visit www.ftwaltonbeach.hamptoninn.com. The Hampton Inn Fort Walton Beach is operated by Interstate Hotels & Resorts (www.ihrco.com), the nation’s largest independent hotel management company.

Contact: Jeniffer Ward, Director of Sales, Hampton Inn Fort Walton Beach, Phone: (850) 301-0906

Email: Jeniffer.Ward@ihrco.com

Doubletree Celebrates Grand Opening in Popular Pittsburgh Suburb of Monroeville, Pa

MONROEVILLE, Pa.--(BUSINESS WIRE)--Along with hundreds of civic, community and business leaders, the Doubletree Hotel Pittsburgh/Monroeville Convention Center (top left photo)  recently celebrated the grand opening of its hotel.

Situated just 12 miles from downtown Pittsburgh, the Doubletree Hotel Pittsburgh/Monroeville Convention Center is centrally located next to one of the region’s largest shopping and entertainment destinations with unique hotel access to the Monroeville Convention Center – one of Western Pennsylvania’s newest convention centers with more than 100,000 square feet of exhibition and conference space.

“Whether your next visit to Monroeville is for business or pleasure, our friendly and professional staff looks forward to greeting guests with a new look, new brand, a great guest rewards program and our legendary, warm Doubletree Chocolate Chip Cookie welcome at check-in, said Rob Palleschi, (lower right photo)  global head for Doubletree Hotels.

“The opening of the Doubletree Hotel Pittsburgh/Monroeville Convention Center continues to demonstrate the flexibility of our brand’s worldwide portfolio of hotels and resorts – which includes many locations in strategically key suburban markets of major metropolitan areas."

The Doubletree Hotel Pittsburgh/Monroeville Convention Center is owned and operated by Mart/Hotel LP, a subsidiary of Pittsburgh-based Oxford Development, under a franchise agreement with a subsidiary of Hilton Worldwide and operated by Davidson Hotel Company, one of the nation’s largest hotel management companies.

Contact: Thomas Wingham, 703-883-5315, thomas.wingham@hilton.com, Doubletree Hotels Media Relations or
Doubletree Hotel Pittsburgh/Monroeville Convention Center, Craig Bollman, 412-373-7300
craig.bollman@hilton.com

Fimiani Development Brokers $2M Sale of Building in Fort Lauderdale

Boca Raton, Fla. – Boca Raton-based Fimiani Development announced the sale of the 777 Building, a two-story 22,688 square-foot office and retail building at 777 S.E. 20th Street in Fort Lauderdale. 777 Holdings, LLC sold the property for $2 million to 777 Offices, LLC.

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

Located just north of I-595, the 22,668 square-foot building offers retail space on the first floor and offices on the second floor. The building’s tenants specialize in the yachting and marine industry. In November 2009, Fimiani was appointed receiver of the office building and handled the property’s leasing and management.

“The building’s prime location near Port Everglades (middle left photo), Fort Lauderdale International Airport (bottom right photo)  and several major interstate highways make this an attractive property for businesses in all industries,” said Fimiani.

“The real estate market is beginning to show signs of improvement as this is the second property we sold within a year of being appointed receiver.”

Fimiani Development is a full-service firm and offers lenders the ability to work with a single source for their receivership needs. Fimiani Development is also handling office and residential receivership assignments. “We handle leasing, management, tenant improvements, accounting and disposition of assets for our lender clients,” said Fimiani.

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

New Wyndham Hotel Opens in Heart of Miami’s South Beach

PARSIPPANY, N.J. (May 13, 2010) – Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation (NYSE:WYN), today announced its continued expansion in Florida with the opening of the 133-room-and-suite Wyndham Garden® Hotel Miami South Beach.

The newly-renovated Wyndham Garden Hotel Miami South Beach, located in South Beach’s entertainment district at 1050 Washington Avenue, is just a short drive from Miami International Airport and the Port of Miami and walking distance to the Miami Beach Convention Center.( middle right photo) For beach-goers, the hotel sits only two blocks from Miami’s white sand beaches.

The historic hotel, preserved by the Miami Beach Historic Preservation Board, underwent a $5.5 million renovation before joining the Wyndham family; the renovation maintained the hotel’s original Art Deco design and architecture.

The Wyndham Garden Hotel Miami South beach joins the 405-room Wyndham Miami Airport Hotel & Executive Meeting Center, located on the banks of the Miami River, less than one-quarter mile from Miami International Airport.

“Miami is an exciting, dynamic city and vibrant hub for business and leisure travelers around the world,” said Jeff Wagoner,(bottom leftt photo)  president of Wyndham Hotels and Resorts. “With its embodiment of Miami culture, great location, personalized service and unique style, the Wyndham Garden Miami South Beach will be an outstanding addition to the growing Wyndham family of hotels.”

The open, bright and contemporary lobby welcomes guests with vivid contrasting color, indicative of Miami's ambiance. Each of the colorful deluxe guest rooms and suites feature modern amenities like free high-speed wireless Internet access, 32-inch LCD televisions with a stereo system, colorful décor, large work desks and ergonomic chairs, as well as marble countertops, white lacquered vanities with contemporary vessel sinks and spa teak benches in all showers.

CONTACT: Evy Apostolatos, Director, Public Relations, Wyndham Hotel Group, 22 Sylvan Way
Parsippany, NJ 07054, +1 (973) 753-6590, evy.apostolatos@wyndhamworldwide.com

Marcus & Millichap Sells $19M Royal Palm Offices at Doral, FL

DORAL, Fla., May 13, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Royal Palm Offices (top left photo)  at Doral, a 122,000-square foot office building in Doral. The property commanded a sales price of $19 million.

Greg Zeifman, a senior associate, and Benjamin Silver, an associate, both located in the firm’s Miami office, secured the buyer, the American Welding Society, a New York City nonprofit organization. The seller was a limited liability company based in Coral Gables, Fla.

“This was an excellent transaction for both the buyer and the seller. The building met the buyer’s specific requirements for their expansion needs and the seller was able to get a very fair price from a qualified, all cash buyer who saw value in the asset,” says Silver.

“The building was delivered in shell condition except for 15 percent of the space, which was built-out and leased up prior to the sale. The American Welding Society plans to build-out and occupy approximately 50 percent of the facility for its new corporate headquarters and lease out the remaining space,” says Zeifman.

Built in 1972, the five-story office building was recently renovated. The five-acre property is located at 8669 NW 36th St. on the major intersection of Doral Boulevard and NW 87th Avenue across the street from The Doral Golf Resort & Spa.

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

HFF Arranges Total $36.2M in New Loans in 4 States

HFF Arranges $4.4M Refinancing for Industrial Building in New Jersey

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $4.4 million refinancing for 506 Route 46, a 77,804-square-foot, multi-tenant industrial building in Teterboro, New Jersey.

Working on behalf of The Hampshire Companies, HFF senior managing director Jon Mikula (top right photo)  and associate director Michael Klein (lower left photo)  placed the five-year, fixed-rate financing with Oritani Bank. Loan proceeds are paying off an existing life insurance company mortgage HFF arranged for the borrower in 2004.

506 Route 46 is located on a 3.3-acre site across from the Teterboro Airport approximately 10 miles from midtown Manhattan in Teterboro. The property benefits from an extensive highway infrastructure with Routes 3, 17, the New Jersey Turnpike and Interstate 80 a short distance away. In addition, the property is fully leased to W.W. Grainger, Inc. and S. W. Anderson Sales Corp.

The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. www.hampshireco.com.

Contacts:

Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures more than $30M  in financing on behalf of WS Development Associates, LLC

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured more than $30 million in financing on behalf of WS Development Associates, LLC for Charles River Center and Stateline Plaza, retail centers in Massachusetts and New Hampshire.

HFF directors Greg LaBine (lower right photo)  and Janet Krolman (lower left photo)  exclusively represented the borrower in the transactions.

Goldman Sachs Commercial Mortgage Capital, LP provided a fixed-rate refinancing for Charles River Center. Ocean Bank, a division of Peoples United Bank, provided a construction loan for Stateline Plaza. WS Development Associates, LLC is a real estate development and management corporation that owns more than 16 million square feet of retail space in the northeast.

Charles River Center is located at 245-249 Hartford Avenue close to Interstate 495 in the southeastern Massachusetts town of Bellingham. The Class A property has 199,511 square feet of space and is anchored by Whole Foods. Other tenants at the center include Gap, Old Navy, Pier One Imports, Michaels’ Stores and Regal Cinemas.

Stateline Plaza is a 181,606-square-foot retail center that includes Lowe’s Home Improvement, NAMCO and a Sovereign Bank branch. Located at 539-541 Broadway Avenue in Salem, New Hampshire, the property is situated near the Massachusetts/New Hampshire State Border one mile from Interstate 93.

“These financings show that lenders are still active for high-quality sponsors with superior assets,” said LaBine. “The local banking community will still fund new construction for retail transactions like Stateline Plaza that have some level of pre-leasing. The Charles River Center refinance received interest from a wide variety of lenders including banks, life insurance companies, CMBS lenders and debt funds.”

Contacts:

Gregory F. Labine, HFF Director, (617) 338-0990, glabine@hfflp.com
Janet N. Krolman, HFF Director, (617) 338-0990, jkrolman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com


HFF arranges $1.8M  acquisition financing for 27 units at Liberty Lofts in Kansas City, MO

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $1.8 million in financing for the acquisition of 27 units at Liberty Lofts (bottom right photo) , a fractured condominium development in Kansas City, Missouri.

HFF associate director Adam Herrin worked exclusively on behalf of the borrower, Atlas Properties, to secure the five-year, construction mini-perm loan through Mutual of Omaha Bank. Loan proceeds were used to acquire the 27 vacant units and complete the remaining construction that the original developer did not complete.

Liberty Lofts is located at 360 West Pershing adjacent to Union Station in the Crossroads Arts District of Kansas City.

Originally built in 1904, the property was redeveloped in 2004 into a 34-unit luxury loft community; however 27 of the units remain vacant and unfinished.

Community amenities include a fitness center, storage area in the basement, a rooftop deck and on-site parking.

“Mutual of Omaha Bank did a fantastic job in getting up to speed on this transaction and getting it closed within a short period of time. It was apparent that this was a great opportunity for an investor to come in and purchase the vacant units and reposition them as rental units. The downtown Kansas City multi-housing market should allow properties such as Liberty Lofts to lease-up quickly once brought to market,” said Herrin.

Atlas Properties was founded in 2004 and has grown by managing, owning, syndicating, and developing residential, commercial, and mixed-use properties throughout the United States, with Dallas/ Fort Worth being its primary market. Atlas also provides real estate syndication, management, and brokerage services.

Contacts:

Adam F. Herrin, HFF Associate Director, (214) 265-0880, aherrin@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Grubb & Ellis Selected to Market Interstate Transportation Center in Rochelle, IL

ROSEMONT, Ill. (May 12, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has been selected by Black Earth Companies to market Interstate Transportation Center, a 200-acre industrial park featuring a direct connection into the Global III Intermodal Terminal in Rochelle.(top left photo)

John Basile, associate vice president, and Frank Melchert, senior associate, both in the Food & Cold Storage practice group, and Chris Lydon, senior vice president in the Global Logistics Group, are responsible for marketing the park.

“With its conventional and intermodal rail service to BNSF and Union Pacific rail lines and direct access to I-39 and I-88, Interstate Transportation Center is one of the best possible options for logistics and food/cold storage users in the Chicago area,” said Basile. “Essentially, users can potentially reach 80 million people within a 24-hour time period.”

Interstate Transportation Center has build-to-suit warehouse/distribution opportunities available ranging from 100,000 square feet to 1 million.

The park is considered a Foreign Trade Zone/Port of Entry and features flexible site plan and building configurations. Offering the lowest combined gas and electric costs in the Midwest, the greater Rochelle area hosts 5 million square feet of space currently used by food-related industrial users.

For more information, contact Basile at 847.655.8483 or john.basile@grubb-ellis.com or
Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com

Sales at Trump Towers in Sunny Isles Beach, FL Surpasses $100M Mark

SUNNY ISLES BEACH, FL--(BUSINESS WIRE)--Heralding the ongoing positive direction of South Florida’s residential real estate market, Dezer Properties  announced that they had surpassed the $100 million mark in sales since assuming the marketing of all remaining units at Trump Towers (top left photo) , the three-tower, 813-unit luxury oceanfront condominium development located at 16001 Collins Avenue, in Sunny Isles Beach, Florida.

The Dezers recently assumed a $265 million loan from a development partnership that included the Related Group, with Wells Fargo serving as agent for a syndicate of 11 participating financial institutions.

 The project’s three towers have a combined 475 units left to sell. The 181 units sold so far sold range in price from $550,000 to $1.9 million, averaging $414/ square foot.

“We are confident that our adjusted pricing is what has driven beyond-expected results,” says Dezer Properties president Gil Dezer (bottom right photo).. “The ability to purchase a unit in a building as prestigious as Trump Towers for $350 to $600/ square foot has generated unprecedented response from a broad range of local, national and international buyers.”

Trump Towers was New York real estate mogul Donald Trump’s (middle right photo) second development with the father and son team of Michael and Gil Dezer.

 The Dezers and Trump also collaborated on Trump Grande in Sunny Isles Beach, a three-building oceanfront enclave consisting of the Trump International Beach Resort, Trump Palace and Trump Royale.
.

“We have always felt that prime oceanfront property would be a signal of the strength of the recovery, as these types of units are so much of South Florida’s appeal,” adds Dezer. “While the residential real estate market clearly has a ways to go to reach full recovery, these initial results have been very encouraging about the state of our industry, at least in Sunny Isles Beach.”

“Our success in marketing Trump Towers has generated numerous inquiries from financial institutions to discuss potential work-outs of distressed properties in their portfolios,” concludes Michael Dezer (middle left  photo)

 “Our experience working with high-end residential condominiums gives us a unique differential advantage in that we understand the needs of the potential buyers, while also recognizing how value-driven the market has become, even in relation to oceanfront property.”

Contacts For Dezer Properties, Kreps DeMaria PR, Israel Kreps or Laura Acker, 305-663-3543 ikreps@krepspr.com
lacker@krepspr.com