Stirling Sotheby’s International Realty Selected to Lease Office Suites at 500 Delaney Ave. in Orlando

ORLANDO, Fla. --- Stirling Sotheby’s International Realty was recently named exclusive leasing agents at 500 Delaney Ave. (top left photo), a four-story, downtown Orlando office building.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said there is currently 7,000 contiguous square feet available for lease, which can be separated for multiple tenants into varied suites as small as 1,900 square feet.

The well-located building features an on-site private parking facility, lake and fountain views, Soderstrom said.

John Kurtz and James Mincy of Stirling’s Commercial Realty division negotiated the leasing agreement, and they are handling the leasing of the property on behalf of the landlord/owner, Canin Associates.

“The building has a lot of appeal because it’s still downtown but on the quieter outskirts of the central business district with scenic views,” Kurtz said.

For more information,  contact:
John Kurtz or James A. Mincy, Sales Associates, Stirling Commercial Group 407-581-5550
Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-588-1260;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Holly Sime Realty Now Leasing Grand Bay Plaza in Miami

MIAMI, FL - Holly Sime Realty, one of South Florida’s leading commercial real estate brokerage, investment and property management firms, has been appointed exclusive leasing agent for the Grand Bay Plaza (top left photo). The building is owned by Grand Bay Grove, LLC.

Holly will offer full floors up to 13,000 square feet to tenants for lease. The building has a total of 164,000 square feet and 52,000 square feet available for lease.

“We are pursuing an aggressive leasing strategy,” said William Holly (middle right photo), Founder and CEO of Holly Sime Realty. “Grand Bay is unique in that it offers tenants exceptional Biscayne Bay views in desirable Coconut Grove. The ownership is committed to striking attractive deals in this competitive market.”

Coral Gables-based Holly Real Estate/TCN Worldwide is an integrated commercial real estate company providing brokerage, investment/joint ventures, development and consulting services.

The company is known for its leadership in green building initiatives having developed Miami’s first ground-up LEED Certified green high-rise office building – Miami Green.

Holly Sime Realty handles all brokerage, leasing and investment sales while Holly Adler Property Management is a joint venture between Holly Real Estate and The Adler Group, offering full service commercial property management services throughout South Florida.

 Holly Real Estate is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms ranked as one of the largest service providers in the industry covering more than 200 markets globally.

For more information on the company, visit its website at http://www.hollyre.com/.

MEDIA CONTACT: Don Silver or Carolyn Popescu of Boardroom Communications, 954-370-8999, or via email at donsilver@boardroompr.com  or cpopescu@boardroompr.com,  both for Holly Sime Realty.

Cambridge Arranges $8.46M HUD Construction and Permanent Mortgage Loan for Alden Estates of Skokie, IL

CHICAGO, IL--Cambridge Realty Capital Companies has arranged a 12-month construction and 40-year FHA-insured permanent mortgage loan for Alden Estates of Skokie (top left photo), a 56-bed skilled nursing home facility in Skokie, Ill.

Cambridge Chairman Jeffrey A. Davis (lower right photo)  said the $8.46 million HUD Section 232 loan will refinance and fund substantial rehabilitation work at the property.

The fully-amortized loan was arranged for the buyer, an Illinois limited liability company, and underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that underwrites HUD loans.

The interest rate was not disclosed.

Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender/borrower relationship and identify “ideal” capital solutions for worthy projects. The company has a national origination office in Los Angeles, and numerous correspondent and brokerage relationships nationwide.

Contact:
Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com

Arbor Closes $3,150,000 Fannie Mae DUS® Loan for Pine Trails Townhouses in Clinton, MS

Uniondale, NY (July 8, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,150,000 loan under the Fannie Mae DUS® product line for the 120-unit complex known as Pine Trails Townhouses in Clinton, MS.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.

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

 “This experienced sponsor was looking to refinance an existing CMBS mortgage,” said Petti. “Other lenders were not able to be as competitive and Arbor’s experience came through, ultimately closing the deal.”

Contact:  Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1

HFF arranges $35.4M acquisition financing for Fountain Square I and III in Tampa

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $35.4 million in financing for Fountain Square I and III, Class A office buildings totaling 311,816 square feet in Tampa, Florida.

Working on behalf of W. P. Carey & Co. LLC’s non-traded REIT affiliate, CPA®:17 – Global, HFF senior managing director Paul Stasaitis (top right photo)  placed the seven-year, fixed-rate acquisition loan with Prudential Mortgage Capital Company.

HFF managing director Hermen Rodriguez, (top left photo)  executive managing director Manny de Zarraga and director Ike Ojala (middle right photo)  were the brokers in the sale of the property from Brookfield Asset Management to the W. P. Carey affiliate.

Fountain Square I and III are located at 4915 Independence Highway and 4900 Memorial Highway, respectively, in the Westshore area of Tampa.

This location is adjacent to Tampa International Airport and close to Interstate 275, State Route 60 and Veterans Expressway.

 The four-story properties are fully leased to JP Morgan Chase on a long-term basis. Fountain Square I is a 135,666-square-foot building with a 708-space garage and a retail bank branch. Fountain Square III, completed in 2000, has 176,150 square feet plus a 912-space garage, a cafeteria, training rooms and a daycare facility.

“These assets were highly sought after by life insurance company lenders due to the creditworthiness of the tenant and the long term leases in place,” said Stasaitis.

Contacts:

Paul Stasaitis, HFF Senior Managing Director, (305) 448-1333, pstasaitis@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852 3500,
krmurphy@hfflp.com


HFF arranges $10.3M financing for three Charlotte, NC office buildings

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $10.3 million in financing for Arrowpoint I, II and III, office buildings totaling 230,645 square feet in Charlotte, North Carolina.

HFF senior managing director Susan Hill (middle left photo)  worked exclusively on behalf of the borrower, BRI 1828 Arrowpoint LLC, to secure the fixed-rate loan through Unum Life Insurance Company of America.

 Loan proceeds were used to acquire the properties. BRI 1828 Arrowpoint LLC is a Florida-based investment management company.

Arrowpoint I, II and III are located at 9140 Arrowpoint Boulevard close to the Interstate 77 and 485 interchange southwest of downtown in the Arrowpoint Center Office Park.

Contacts:

Susan L. Hill, HFF Senior Managing Director, (713) 852-3500, shill@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com


HFF closes sale of and arranges financing for Atrium at Park Ten in Houston’s Energy Corridor

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of and arranged financing for Atrium at Park Ten, a 139,834-square-foot, multi-tenant office building in Houston’s Energy Corridor.

The HFF investment sales team was led by senior managing director Dan Miller (middle right photo)  and associate director Martin Hogan (middle left photo), who marketed the property on behalf of the seller, KBS Realty Advisors. Beacon Investment purchased Atrium at Park Ten for an undisclosed amount.

Susan Hill of HFF arranged the fixed-rate financing on behalf of Beacon. This was HFF’s 5th sale to Beacon and Beacon’s 11th office building purchase in the last 24 months.

Atrium at Park Ten is situated on six acres at 16340 Park Ten Place within the Park Ten office center in Houston’s Energy Corridor, west of downtown.

The property has undergone nearly $2 million in capital improvements in the past eight years and is 88% leased to tenants including RSC Equipment Rental, Dockwise USA and Trendmaker Homes.

“Atrium at Park Ten (lower right photo)  is uniquely positioned as the best Class B building within Park Ten, a 550-acre master-planned mixed use development in the Energy Corridor submarket.

Atrium at Park Ten provides a perfect alternative to tenants seeking a high-quality, well-maintained office environment at an attractive price relative to Class A rental rates,” said Miller.

KBS Realty Advisors, an SEC-registered investment advisor, and its affiliate, KBS Capital Advisors, are one of the nation's largest buyers of commercial real estate and structured debt investments, having consummated more than $16.5 billion in transactional volume.

Beacon Investment LLC is a privately-owned real estate investment management firm based in Miami.

Contacts:

H. Dan Miller, CCIM, SIOR,HFF Senior Managing Director (713) 852-3500dmiller@hfflp.com
Susan L. Hill,HFF Senior Managing Director (713) 852-3500 shill@hfflp.com
Kristen M. Murphy,HFF Associate Director, Marketing (713) 852-3500 krmurphy@hfflp.com

HFF closes sale of and arranges acquisition financing for REO multi-housing community in Houston

HOUSTON, TX – The Houston and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have closed the sale of and arranged financing for Broadstone Walker Commons, a Class A, REO multi-housing community in League City, Texas.

HFF senior managing directors Craig LaFollette, Todd Stewart and Todd Marix, director Tre Banks and associate director Chris Curry led the investment sales team on behalf of the seller, a bank participation with Bank of America as the agent bank.

Sunstone Realty Advisors purchased the property and worked with HFF’s senior managing director John Brownlee (lower left photo)  and director Matt Kafka to secure the fixed-rate acquisition loan through Freddie Mac (Federal Home Loan Mortgage Corporation).

The loan will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer program.

Situated on nearly 20 acres, Broadstone Walker Commons is located at 1751 West Walker Street close to Interstate 45 (Gulf Freeway), southeast of downtown Houston in League City.


 The 91% leased property was completed in 2008 and has 352 units averaging 928 square feet each. Community amenities include a resort-style pool and clubhouse with business and fitness center.

Based in Vancouver, British Columbia, Sunstone Realty Advisors invests in opportunistic properties in Canada and the United States.

Contacts:

G. Craig LaFollette, HFF Senior Managing Director, (713) 852-3500, clafollette@hfflp.com
John S. Brownlee, HFF Senior Managing Director, (214) 265-0880, jbrownlee@hfflp.com
Kristen M. Murphy,HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of 12-property student housing portfolio in Tallahassee, FL

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of a 12-property, 1,702-bedroom student housing portfolio close to Florida State University, Florida A&M University and Tallahassee Community College in Tallahassee, Florida.

HFF director Brian Kelly (lower right photo)  marketed the portfolio on behalf of the special servicer and receiver, LNR Partners, Inc.

The properties were purchased by four buyers: Shady Lane Holdings, The Cottages of Tallahassee, LLC, AMCO Properties and Mesco, Ltd.

Individual property breakouts are listed below:
Buyer Properties # of Units/# of Beds

Shady Lane Holdings Jennings Place Cottages 6 Units/18 Beds
Cottages of Magnolia 38 Units/152 Beds
University Gardens II 20 Units/80 Beds
Cottages of Harrison 4 Units/16 Beds
The Cottages of Tallahassee, LLC Cumberland Forest 28 Units/112 Beds
Cottages of Rumba 14 Units/24 Beds
Cottages of Glenda 12 Units/20 Beds
AMCO Properties, LLC 1111 On High 136 Units/344 Beds
Villa Casa Cortez 138 Units/254 Beds
Mesco, Ltd. Osceola Village Hall 114 Units/334 Beds
Osceola Village Suites 46 Units/184 Beds
Sweet Bay Club 41 Units/164 Beds

“This portfolio represented a tremendous opportunity for income and NOI growth as all the properties were performing below market in terms of rent and occupancy rates,” said Kelly.

LNR Property Corporation is a diversified real estate, investment, finance and management company.

Contacts:
Brian J. Kelly, HFF Director, (317) 630-3191, bkelly@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $8.6M refinancing for Kohl’s in Redondo Beach, CA

LOS ANGELES, CA – The Los Angeles office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured post-closing acquisition financing of $8.6 million for an 82,957-square-foot Kohl’s at the South Bay Galleria (middle left photo)  in Redondo Beach, California.

Working exclusively on behalf of an institutional client, HFF senior managing director Paul Brindley (top right photo)  and director John Crump placed the five-year, fixed-rate loan with Nationwide Life Insurance Company.

The loan will be serviced by HFF. The client purchased the property in July 2009 for $17.25 million.

The two-story property, located at 1799 Hawthorne Boulevard is part of the 950,000-square-foot South Bay Galleria regional mall in Redondo Beach.

Located in the heart of the South Bay, the property is close to the 405 Freeway and affluent beach cities. Kohl’s fully leases the entire property through January 2028.

Contacts:

Paul Brindley, HFF Senior Managing Director, (310) 407-2100, pbrindley@hfflp.com

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

Jason Kleiman and Bob Budington join Avison Young's Chicago brokerage operation

CHICAGO, IL,  July 8 /PRNewswire/ -- Michael McKiernan, (bottom right photo) Avison Young Principal and Managing Director of the company's Chicago office, announced today that two leading commercial real estate brokers have joined Avison Young's brokerage operation.

Effective immediately, Jason Kleiman (top right photo)  becomes a Principal of Avison Young and a member of the office tenant representation group in Chicago.

 Kleiman was formerly Managing Principal at Lakefront Advisory Services, a corporate real estate advisory practice that focuses on the representation of users of office space.

Bob Budington (top left photo) joins Avison Young as senior director of Chicago's office tenant representation group. He was most recently a Vice-President with Colliers Bennett & Kahnweiler Inc. and formerly with Golub and Company and Jones Lang LaSalle.

Avison Young is Canada's largest independently-owned commercial real estate services company. The firm opened its first U.S. office in Chicago, IL in 2009, followed by U.S. offices in Washington, DC, Atlanta, GA and Houston, TX over the past half year.

"We are pleased to be able to unite two energetic, experienced brokers who will help Avison Young realize its vision for further growth and success in the Chicago marketplace. Their backgrounds, coupled with their strong work ethic, will provide clients with the highest quality of service," says McKiernan.

Contacts:
Follow Avison Young on Twitter:
For industry news, press releases and market reports: www.twitter.com/avisonyoung
For Avison Young listings and deals: www.twitter.com/AYListingsDeals

Marcus & Millichap Sells 59,102-SF Self-Storage Facility in Lakeland, FL

LAKELAND, FL, July 8, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Highlands Storage (top left photo), a 59,102-square foot self-storage facility located in Lakeland, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,250,000.

Michael A. Mele (bottom right photo), vice president investments and senior director of the National Self Storage Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the REO Department of a National Bank, as well as the buyer, a private investor based out of Florida.

Highlands Storage is located at 4733 Exploration Avenue. The facility was built in 2007 and is situated on 4.29 acres (MOL).

The property includes one multi-story, climate controlled building with a manager’s office. This REO asset was priced well below replacement cost.

 “This was the second bank deal we have closed this year,” says Mele. “We have several more in the pipeline. I think you will see the banks and special servicers being very active in selling their self-storage assets in the next twelve months.”

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

Seniors Housing Hangs in Balance with Passage of Healthcare Reform, Marcus & Millichap Reports

ENCINO, CA – The Community Living Assistance Services and Supports (CLASS) Act, part of the federal government’s sweeping healthcare reform legislation, will have a significant impact on the seniors housing market, according to a new report issued by Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm.

“New healthcare reform may cause some pricing instability for seniors housing facilities but assisted living facilities will likely experience the most long-term benefits from the legislation,” says Gary R. Lucas (top right photo), managing director and senior vice president of the firm’s National Seniors Housing Group (NSHG).

The CLASS portion of the healthcare reform bill will set up government-sponsored, long-term care insurance, which could revalue skilled nursing facilities nationwide, explains Lucas.

Users of government-sponsored healthcare will be automatically enrolled in the program, though the high cost will likely drive many to opt out shortly after implementation.

Consequently, premiums will fall short of benefits paid out after the five-year vesting period, leading to further stress on Medicaid and reduced payouts under the current system.

Since most of the value in skilled nursing facilities relates to the profitability of the business and not its physical site, any decrease in Medicaid payouts will lower the value of the business.

 “This trend will wedge a divide between new, state-of-the-art facilities that cater to Medicare and private-pay users and older communities that depend on Medicaid supplements,” says Lucas.

The new report ranks 31 major U.S. markets based on occupancies through the first quarter of 2010. Seniors housing assets in Minneapolis, Baltimore and San Jose, Calif., have the highest occupancy rates, while occupancy rates in Kansas City, Denver and Las Vegas are the lowest.

For a copy of the Seniors Housing Research Report from Marcus & Millichap, please visit http://www.marcusmillichap.com/.

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

Floating-rate loans stay attractive, often below 4%, reports RECI

CHICAGO, IL,  July 8, 2010 - As stock markets slide downwards, treasury rates follow suit with five and ten-year yields rounding down about 30 basis points lower from June -- below 2% and 3%, respectively, reports The Real Estate Capital Institute's July Scoreboard.

Combined with dropping spreads, borrowers are now enjoying fixed rates in the 4% to 5% range for lower leveraged loans. Floating-rate loans stay attractive, sometimes below 4%, as fears of inflation dissipate for the time-being.

Oversupply of funds being mismatched against a much sought-after supply of
higher-quality funding opportunities is the theme for much of 2010. However, this issue is evermore pronounced as lenders are under more pressure to fund such assets.

Unlike the past two years, the real estate capital markets are more stable as fresh transactions established new value benchmarks helping to remove valuation uncertainty from the underwriting process.

 Look to a flurry of aggressive lending at the end of the summer, when most capital
sources realize production levels are inadequate.

While still trying to maintain underwriting discipline, lenders seek creative funding solutions. For the most part, lenders continue to impose floors to dampen yield erosion.

The yield dams, however, will break as more monies flood the market. Expect longer amortization schedules (returning to 30 years), leverage approaching 75% or greater and funding flexibility such as partial fundings and forward-delivery loans. However, debt service coverage will remain at about 125%, since rates are relatively low.

The Real Estate Capital Institute's director, Jeanne Peck (top right photo)  expects
"Qualified borrowers are fast gaining the upper hand in negotiating debt. Low rates combined with more attractive leverage translate to fantastic cash flow opportunities."

Adding, "However, the equity markets see such competitive financing as reasons to maintain solid pricing, as refinancing remains a very real option vs. liquidation."

Contact: Jeanne Peck, Executive Director, Toll Free 800-994-RECI (7324)
 director@reci.com,  http://www.reci.com/

Property Sciences and Marcus & Millichap Form Strategic Alliance

PLEASANT HILL, CA, July 8, 2010 /PRNewswire/ -- Property Sciences, a national real estate appraisal and consulting firm, has formed a strategic alliance with Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm.

 During the initial launch, Property Sciences will work with a strategic network of Marcus & Millichap's offices to provide lenders with a broad range of portfolio valuation services.

"Property Sciences assists lenders with the valuation of commercial real estate portfolios on a national scale," states Andrew Mekjavich, VP at Property Sciences' corporate headquarters in Pleasant Hill, CA. "The recent alliance gives lenders the opportunity to analyze and evaluate their commercial real estate portfolios using a new suite of hybrid valuation tools."

"Marcus & Millichap has steadily increased its menu of services for banks, appraisers and borrowers," explains Stephen Stein (lower left photo) , regional manager of the firm's Los Angeles office. "In 2006, the firm expanded its Special Assets Services division, and began offering more tools for lending institutions and investors facing loan delinquencies, REOs and other distressed situations."

 For more information on Marcus & Millichap visit http://www.marcusmillichap.com/

Founded in 1984 by Paul Chandler (top right photo), MAI, Property Sciences is a nationwide full-service appraisal and consulting firm providing residential and commercial appraisals, reviews, portfolio valuation services, and HVCC-compliant appraisal management platform technology solutions for residential mortgage lenders and investors.

 For more information, please visit http://www.propsci.com/.

Media Contact: Tonya HayesStrategic, Communications925.285.0001tonya@tonyahayes.com
Corporate Contact: Andy Mekjavich, VP Property Sciences925.246.7326
Andy.Mekjavich@PropSci.com


RealtyBid.com and Marcus & Millichap Special Assets Group Establish Commercial Real Estate Bidding Website

RAINBOW CITY, AL /PRNewswire/ -- Online Real Estate Bidding Leader RealtyBid.com has partnered with the Special Assets Group of national commercial real estate broker, Marcus & Millichap, to develop CommercialBid.com, a bidding site for commercial real estate assets.

The new website officially launched July 1, 2010, with the online unveiling of a special bidding event offering commercial property and commercial loans valued at more than $60 million from the Marcus & Millichap Special Assets Group (MMSAG). Online bidding for this more than $60 million of assets will take place August 3-5 on CommercialBid.com.

RealtyBid.com CEO/President Tony Isbell said now is the ideal time for potential buyers to turn their eyes toward the commercial market.

"RealtyBid has been watching the commercial market for the past two years and evaluating the timing of rolling out a commercial auction strategy," Isbell said. "Our new relationship with MMSAG provided the perfect entree into this market at a time when we can be most beneficial to buyers and sellers."

Jacob Steele, (middle right photo)  director of Marcus & Millichap's Special Asset Group, agreed. "MMSAG's partnership with RealtyBid.com and the creation of CommercialBid.com generate an extremely powerful accelerated marketing process for lenders and private sellers to maximize commercial property and loan values," he said.

Contact: : Daphne Shannon, Marketing Director of RealtyBid.com, +1-256-549-4463, Daphne.Shannon@RealtyBid.com
Web Site: http://www.realtybid.com/

Lloyd Berger of Berger Special Assets Named Receiver of 2 Properties in Naples, FL

FORT LAUDERDALE, Fla. – Berger Special Assets, a division of Berger Commercial Realty Corp., announced Lloyd Berger (top right photo)  has been named receiver for two properties in Naples, Fla. – River Park (middle map)  located at 330 11th St. North and 1015 2nd Ave. North; and Gordon River (bottom right map), located at 1400 5th Ave. North.

“Our plan is to turn around these properties and restore their values and occupancy levels,” said Berger, founder and president of Berger Commercial Realty Corp.

River Park is a nine-building complex consisting of 108 units. Gordon River is a 12-building apartment complex containing 96 units. The property features a playground and a pool and is near the beach.

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.

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.

Contact: Marielle Sologuren, Pierson Grant Public Relations, (954) 776-1999, ext 226

msologuren@piersongrant.com

Marcus & Millichap Sells 56-Unit Apartment Building in DeLand, FL

DELAND, FL, July 7, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Laurel Oaks (top left photo), a 56-unit apartment community located in DeLand, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,650,000 and closed in one week.

Michael Donaldson, (middle right photo) an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a limited liability company.

The buyer, a regionally based private investor, was represented by Tommy Grim of Re/Max Assured.

“This transaction represents an excellent opportunity for the buyer to realize an immediate desirable return and have the opportunity to increase value by finishing the remaining renovations” says Donaldson.

Laurel Oaks is located at 650 North Boundary Road. Built in 1984, the property consists of 14 cardinal-style buildings constructed of frame with stone siding.

Situated on 5.58 acres MOL, Laurel Oaks is close to the Florida Hospital DeLand (lower left photo). The property was approximately 90 percent occupied at the time of sale and featured numerous renovations throughout.

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

Cambridge Realty Capital Provides $1.39M FHA-Insured Mortgage Loan to Refinance McGill Terrace Apartments in Chicago

CHICAGO, IL--Cambridge Realty Capital Companies has arranged a $1.39 million FHA-insured first mortgage loan to refinance McGill Terrace Apartments (top left photo), a 48-unit apartment complex at 821-829 49th Street in Chicago, Cambridge Chairman Jeffrey A. Davis announced.

Cambridge originally funded the property for the owner, an Illinois limited partnership, in December, 1996. The loan was refinanced using HUD’s 223(a)(7) program for properties with an existing HUD loan.

The fully-amortized, 38-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the Cambridge business unit that underwrites HUD loans. The interest rate was not announced.

Contact:  Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611
E-Mail: ew@cambridgecap.com

Shane Wilder Joins Grubb & Ellis as Senior Vice President, Tenant Advisory Group

NEWPORT BEACH, CA(July 6, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Shane Wilder (top right photo)  has joined the company as senior vice president, Tenant Advisory Group, specializing in office leasing.

“Shane’s entire 15-year career has been in tenant representation and he brings tremendous value to our company with his vast experience representing clients in multiple sectors of the industry,” said Greg May, (lower left photo)  executive vice president, co-managing director, Orange County.

 “His devotion and deep understanding of the market will bode well for our clients and I am pleased to welcome him to the team.”

Wilder joins Grubb & Ellis from Studley, where he served as a corporate managing director overseeing the company’s strategic planning and consulting group in Southern California.

During his 11-year career with Studley he consistently ranked as one of the company’s top producers.

 Prior to joining Studley, Wilder began his career with Arledge Power Real Estate Group in 1995. Throughout his career he has represented Fortune 100 companies and large corporate users in leasing more than six million square feet of space.


Grubb & Ellis Represents PPF Orchard Industrial 2164 Batavia LLC in Sale of 246,732-SF Warehouse Building in Orange County, CA

ANAHEIM, CA (July 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Jeff Read, (lower left photo)  executive vice president, and Greg Osborne, (lower right photo)  vice president, represented PPF Orchard Industrial 2164 Batavia LLC in the sale of a 246,732-square-foot headquarters/distribution building located at 2164 N. Batavia St. in Orange.

 Frick Family Properties LLC, doing business as Paper Mart, purchased the property for $22.2 million.

“This transaction is among multiple sizeable owner/user sales that have closed in the Orange County area in the last several months, providing good indication of overall improvement in the industrial market,” said Read.

Paper Mart will use 2164 N. Batavia St. as its corporate headquarters and the warehouse and distribution of packaging supply products.

Situated on roughly 10.7 acres of land, the property is located in the North Orange County submarket. The building includes nearly 36,000 square feet of Class A office space, as well as approximately 210,000 square feet of state-of the-art warehouse/distribution space.

Brian Bennett of Cresa Partners represented Frick Family Properties in the transaction.

Over the past 12 months, Read and Osborne have been involved in several of the largest industrial transactions in Orange County, totaling roughly 810,000 square feet with a total consideration value of approximately $60 million.

 These transactions include the $16.9 million sale of a corporate headquarters/distribution building in Buena Park and the $12.3 million sale of a 15-acre manufacturing site in Fullerton.

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