Cushman & Wakefield negotiates $28,175,000 sale of Collier Commons Shopping Center in Land O’Lakes, FL to Publix

ORLANDO, FL--The Capital Markets Group of Cushman & Wakefield of Florida, Inc. (C&W) announced the sale of Collier Commons Shopping Center (top left photo), located at the intersection of State Road 54 and Collier Parkway in Land O’ Lakes, Florida.

 The 187,132 square foot grocery and department store-anchored community shopping center was bought by Lakeland-based Publix Supermarkets in a $28 million deal which closed on May 25.

 C&W Senior Directors Karl Johnston (middle right photo) and Patrick Berman (lower left photo) represented the seller, Collier Commons of Pasco LLC and Publix was self-represented.

 "Collier Commons is one of the premier Class A Publix-anchored shopping centers in the Tampa area," said Johnston, Senior Director with the Jacksonville office of C&W. "With its strong tenant mix and location, the center received a large amount of investor interest, along with Publix,” said Johnston.

 "There will always be good investor demand for solid, grocery-anchored community shopping centers, as they are viewed as recession proof because they cater to the everyday needs of consumers," said Johnston.

  

"Collier Commons has been a strong performing center and will continue to be for the foreseeable future given its strong anchor tenancy, sales volume, limited competition, and premier location.”  

 Originally developed in 2003 & 2005, Collier Commons was 100% leased at the time of sale.  Anchored by a 60,667 square foot Publix, and a 66,355 square foot Belk, Collier Commons features a high-quality roster of shop tenants including Walgreens, Chili’s and Verizon.

Contact: Brook Hines, Tel: 407-541-4401

brookhines@cushwake.com

www.cushwake.com

Stirling Sotheby’s International Realty Named Exclusive Sales and Marketing Agent for Unique Sweetwater Club Luxury Estate

ORLANDO, FL--Stirling Sotheby’s International Realty was recently named exclusive sales and marketing representatives for a unique luxury estate at

106 Squire Hill Rd.

in the Sweetwater Club in Longwood.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the prestigious 8,500 square foot estate home is one of the most desirable properties in Florida.

“Sweetwater Club was originally developed by Everette Huskey and still ranks as one of the most unique, beautiful and exclusive neighborhoods in Florida,” Soderstrom said.

“Sweetwater Club will never be duplicated, as zoning and land use laws have since changed. This property offers a lifestyle that is one of the last of its kind anywhere,” Soderstrom said.

International Luxury Home Specialists Sally Andy (top right photo) and David Warren (middle left photo) of Stirling Sotheby’s Heathrow Gallery are representing the property which is listed at $1,299,000 with its 4.5 acre park-like homesite.

The recently renovated home, with eight bedrooms, seven full baths and two half-baths, features an island gourmet kitchen with all new custom cabinetry and granite counters.

Outside, the estate features a resort style outdoor living area with tropical pool, waterfalls, stone grotto, koi pond and oversized heated spa. The home also features a seven car garage.

Photo Gallery: http://www.tourfactory.com/idxr731285

For more information, contact

Sally Andy or David Warren, Stirling Sotheby’s International Realty 407-687-7295 or 407-928-3760; sally@sallyandy.com or david@sallyandy.com;

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   Lvershelco@aol.com.  

PCCP Partners With Principal Real Estate Investors to Acquire Class A Office Building in Seattle

SAN FRANCISCO, CA, May 26, 2011 - PCCP, LLC has announced that it has partnered with Principal Real Estate Investors, the fourth largest institutional real estate manager in the United States, to acquire a 253,769 square foot class A office building located at 705 5th Avenue South in Seattle (top left photo).

The property is located within the Pioneer Square submarket, which is situated just south of the Seattle CBD, and is 98 percent vacant. The joint venture acquired the property from a private owner in an off market transaction.

Amazon, who occupied the building since it was built in 2001, vacated the building at the end of April of this year as part of a corporate consolidation.

“The most compelling aspect of this acquisition for us was the opportunity to own a “best in class” building in the south Seattle CBD submarket at a time when leasing in the Seattle area is showing strong momentum.

"We were able to purchase a prime office building in an established location at a substantial discount to replacement cost,” said Bryan Thornton (lower right photo), Partner with PCCP.

 The office building is within the Union Station office complex, a five-building, 1.1 million square foot development consisting of mid-rise office buildings over a central 1,100 stall parking garage and the restored Union Station railroad depot (middle left photo). 

The Union Station project was developed from 1998 to 2002 and enjoys excellent access to I-90, the primary connector between Seattle and the Eastside markets of Bellevue and Redmond, as well as direct access to the Metro Transit bus tunnel connecting Pioneer Square with the Seattle CBD and residential neighborhoods to the north and the Sounder Transit light rail to the south and the airport. 

The property is also immediately adjacent to both Qwest and Safeco fields, home to the Seattle Seahawks and Mariners respectively.

 Morgan Deal, of Principal Real Estate Investors, also observed that the building quality, access to public and private transportation corridors, and surrounding environment will allow the property to compete with the upper echelon of class A buildings throughout the Seattle CBD.

 “There is distinct market momentum for technology related firms to target locations not only in close proximity to downtown Seattle, but the Pioneer Square area in particular due to the architectural character of the area, entertainment and service amenities, and regional transportation access.” 

 

The allure of the submarket is illustrated by the 300,000 square feet of leases executed by tenants within the last 120 days including Cobalt, Isilon and Zulily; as well as a large amount of companies currently in the market for office space.  Jesse Ottele of CBRE will be the primary listing agent at the property.

Learn more about PCCP at www.pccpllc.com

Media Contact: Darcie Giacchetto, Spaulding Thompson & Associates, Inc. (949) 278-6224

Post Properties Announces Quarterly Dividends and Annual Shareholders Meeting Results

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.20 per share for the second quarter of 2011. The dividend is payable on July 15, 2011 to all common shareholders of record as of June 30, 2011.

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for the second quarter of 2011. The dividend is payable on June 30, 2011 to all Series A preferred shareholders of record as of June 15, 2011.

Shareholders elected the Board’s nine nominees, voted to approve, on an advisory basis, executive compensation, voted for a one year frequency, on an advisory basis, on the future advisory vote on executive compensation, and ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accountants for 2011.

On May 25, 2011, following the Annual Meeting of Shareholders, the Board of Directors determined that future advisory votes on executive compensation will be held on an annual basis.

Contact: Post Properties, Inc., Chris Papa, 404-846-5000

Arbor Closes Three Fannie Mae Loans Totaling $31.4M From TX To CA

Uniondale, NY (May 26, 2011) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, announced the recent funding of three loans totaling $31,400,000 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines from Texas to California:

 Greenhaven Apartments, Union City, CA (top left photo) – The 250-unit complex received $26,300,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The 28-year-old San Francisco Bay-area property is and has historically been a greater-than-95-percent-occupied asset. Furthermore, there have not been any significant housing developments in the surrounding area recently.

Lions Gate Apartments, Fresno, CA (middle right photo) – The 48-unit complex received $2,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Coronado North Apartments, Denton, TX (lower left photo) – The 144-unit complex received $3,100,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

All of the loans were originated by Jay Porterfield, Vice President, in Arbor’s full-service Plano, TX, lending office.

“The large Greenhaven Apartments acquisition deal involved an experienced and professional California-based borrower that is very familiar with the property and surrounding market.

“Arbor provided a competitive interest rate for the deal and underwrote and closed the loan in an expeditious manner,” Porterfield said.

 “The sponsors involved in the Lions Gate and Coronado North Apartments transactions both opted for lower-leverage refinancings. Lions Gate is consistently highly occupied and Coronado North is managed and maintained exceedingly well.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

US Retailers Poised for Expansion, ICSC Convention Attendees Told

SEATTLE, WA May 26, 2011 /PRNewswire-USNewswire/ -- Backed by an improving economy, a recent surge in jobs and ten consecutive months of rising retail sales, a broad range of retailers are poised to fill up empty retail spaces over the next 12 to 18 months, according to Colliers International.

Continuing the momentum from the International Council of Shopping Centers (ICSC) annual convention in Las Vegas, retailers are actively discussing new store openings--including construction of new stores in select markets. In particular, luxury retail, restaurants and value and discount retailers--including discount apparel and dollar stores--are the sectors most likely to expand.

Colliers International also suggests that if a perfect storm materializes this year--declining gas prices, stabilizing home prices and improving employment figures--the retail market could generate as much as a 4.5 percent increase in consumer sales for the 2011 winter holiday season, a rate that would signal a considerable return to market health.

Further, Colliers International contends that while the retail recovery will likely be uneven across sectors and regions, an increasing number of retail real estate owners, operators and investors are returning to a more fundamentals-based approach, again basing financial decisions and expansion plans on the strength of the retail operations' core underlying business.

 "Retailers across the country came to ICSC excited to do business," said Mark Keschl, National Director of Retail for Colliers International. "Some sectors are stronger than others and we probably won't see growth universally, but for the first time in several years retailers unveiled expansion plans through a combination of leasing space and new construction."

National retail vacancy now stands at roughly 11 percent, essentially flat on a year-over- year basis. And despite some improving leasing activity over the past several months, total absorption has remained under 2 million square feet nationally, as several big box retailers have put more than 65 million square feet of space back on the market. But with several improving sectors and densely populated urban markets rebounding more quickly, the retail market is loaded with potential.

"The national retail market is poised for a return to sound fundamentals and good credit retailers," added Ross Moore (top right photo), Chief Economist in the U.S. for Colliers International. "There is polarization in the sector, with the high-end market on one end and discount retailers on the other. Overall, mid-range retailers have yet to see the impact of an improving economy, but there is more strength in the retail market than is being reported."

 Colliers International also notes that:

• The strongest retail markets are predominantly in gateway cities--New
• York (middle right photo), Boston, Washington, DC (lower left photo) and West Los Angeles--while Dallas and Houston also boast vibrant retail sectors.
• Polarization is also occurring within the shopping center segment, where
• high-quality, well-located retail assets are reporting consistent leasing activity, while poorly located, marginal centers continue to struggle.
• Rents in high-end retail corridors appear to have stabilized and in many
• cases are beginning to rise, with New York City's Fifth Avenue and
• Madison Avenue, Chicago's Michigan Avenue and San Francisco's Union Square leading the way.

Contact: Richard Mulieri or Russ Colchamiro of The Marino Organization, +1-212-889-0808, Richard@themarino.org, or  Russ@themarino.org

Web Site: http://www.colliers.com/

Foreclosure Homes Account for 28% of all Q1 2011 Residential Salels, RealtyTrac Reports

 IRVINE, CA, May 26, 2011 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q1 2011 U.S. Foreclosure Sales Report™, which shows that sales of bank-owned homes and those in some stage of foreclosure accounted for 28 percent of all U.S. residential sales in the first quarter of 2011, up slightly from 27 percent of all sales in the fourth quarter of 2010 and the highest percentage of sales since the first quarter of 2010, when 29 percent of all sales were foreclosure sales.

The average sales price of properties in some stage of foreclosure — default, scheduled for auction or bank-owned (REO) — was $168,321, down 1.89 percent from the fourth quarter of 2010 and down 1.46 percent from the first quarter of 2010.

The average sales price of foreclosure properties was nearly 27 percent below the average sales price of properties not in foreclosure, unchanged from the 27 percent foreclosure discount in the fourth quarter and up slightly from the 26 percent foreclosure discount in the first quarter of 2010.

Third parties purchased a total of 158,434 U.S. bank-owned homes and those in some stage of foreclosure during the first quarter, a decrease of 16 percent from a revised fourth quarter total and down 36 percent from a revised Q1 2010 total. Bank-owned properties that sold in the first quarter had been repossessed by the bank an average of 176 days prior to the sale, while properties that sold in the earlier stages of foreclosure in the first quarter were in foreclosure an average of 228 days before selling.

“While foreclosure sales continue to account for an unusually high percentage of all residential home sales, sales volume is well off the peak we saw in the first quarter of 2009, when nearly 350,000 foreclosure properties sold to third parties,” said James J. Saccacio (top right photo), chief executive officer of RealtyTrac.

“While this is probably helping to keep home prices relatively stable, it is also delaying the housing recovery. At the first quarter foreclosure sales pace, it would take exactly three years to clear the current inventory of 1.9 million properties already on the banks’ books, or in foreclosure.”

For a complete copy of the news release and report, please contact:

Michelle Sabolich, Atomic Public Relations, 415.593.1400, ext. 1233

michelle.sabolich@atomicpr.com

Colliers International Completes $11.42M Sale of a 208,493-SF Industrial Property in Simi Valley, CA

SIMI VALLEY,  CA (Aug.  16, 2010) – Colliers International, the second largest real estate services organization globally, has completed the sale of 208,493-square-foot industrial property at 2900-2950 Madera Rd. (bottom left photo)  in Simi Valley, Calif., to Kingsbridge International, Inc., an importer / wholesaler of housewares and giftwares.

The transaction is valued at $11.42 million.

The two-building property is comprised of a 135,683-square-foot distribution building and a 72,810-square-foot office building. Kingsbridge will be relocating to this location from their Chatsworth, Calif. headquarters, and will occupy the distribution building.

“Kingsbridge was attracted to this property because the quality of the real estate and the price point were incredibly attractive. Our client will operate its business from the 135,683-square-foot distribution building and will lease the office building back to the seller, Bank of America,” said John DeGrinis, (top right photo) SIOR, executive vice president, who represented the buyer in the transaction, along with Patrick DuRoss, (bottom right photo)  senior associate, and Jeff Abraham (top left photo), associate, all of TEAM DeGRINIS based in Colliers International’s Encino, Calif., office.

Abraham added, “Once Kingsbridge saw that the functionality, image, size and location of the distribution building were all exceptional for its use, they became very excited about this opportunity as an investment in Kingsbridge’s operations, as well as a great real estate investment opportunity.”

Bank of America was represented by Cushman & Wakefield.

TEAM DeGRINIS is a specialized group within Colliers International that provides consulting on industrial and R&D real estate requirements in the North Los Angeles region.

With a combined 40 years of experience in the commercial real estate industry, TEAM DeGRINIS is a leader in sharing strategic local market insight and has completed more than $385 million in transactions over the past five years.

For more information, visit www.colliersmn.com/teamdegrinis.

Contact: Megan Morales, Marketing & PR Coordinator, 949 724 5537
megan.morales@colliers.com

Morrison Commercial Real Estate Completes Office Lease Transactions Totaling 31,243 SF at Parkway Buildings in Maitland and Downtown Orlando

ORLANDO, FL (Aug. 16, 2010): Greg Morrison, CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of two office lease transactions totaling 31,243± square feet for their client Parkway Properties.

Parkway Properties is one of the nation’s premier office REITs that own five (5) office buildings in the Greater Orlando area totaling over 900,000 square feet.

Greg Morrison (bottom right photo) and Emily Zinaich (top right photo)  represented Parkway in leasing 21,391± square feet to Welbro Building Corporation for a total of six (6) years at the Maitland 200 building. Tony Jones of Newmark Knight Frank in Miami represented the Tenant in this transaction.

In Downtown Orlando, Morrison and Damien Madsen (top left photo)  leased 9,852± square feet to Hancock Bank for a total of five (5) years at the Gateway Center located at 1000 Legion Place. This includes Hancock Bank’s first Downtown Orlando bank branch location along with the additional office space for their commercial banking operations.

Contact: Buffy Gillette, Phone: 407.219.3500, Email: bgillette@morrisoncre.com

PCCP and Ohio Public Employees Retirement System (OPERS) Form New Venture to Originate Senior Commercial Mortgages

 SAN FRANCISCO, CA, Aug. 16, 2010 - PCCP, LLC and the Ohio Public Employees Retirement System have teamed up to form a new venture that will originate first mortgages. The venture will take advantage of the lack of liquidity in the floating-rate commercial mortgage debt space.

According to Don Kuemmeler (top right photo), founding partner of PCCP, “The great recession has reduced the number of skilled, entrepreneurial lenders who understand fundamental real estate value and who make and hold commercial real estate mortgages on their balance sheets.

"The PCCP and OPERS venture intends to offer a shorter-term, flexible first mortgage product for owners with a value-added business plan. We expect to hold these loans to maturity, and service our customers with creative solutions, as PCCP has done over the past 12 years.”

The venture will leverage PCCP’s team of seasoned investment professionals and established lending platform which has originated in excess of $3.5 billion of floating-rate loans over the past 12 years.

With a national focus, the venture will make loans secured by all major asset types (office, multifamily, retail, industrial and hospitality).

“We are excited to be teamed up with the Ohio Public Employees Retirement System. OPERS recognized a need in the market, and we expect to have many opportunities to make excellent investments in the coming year,” said Adam Zoger, a principal in PCCP’s San Francisco office.

 PCCP, LLC is a premier real estate private equity firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion under management in multiple closed-end funds and joint ventures with institutional investors.

With 33 investment professionals and 50 employees across four offices located in New York, San Francisco, Sacramento and Los Angeles, PCCP invests throughout the United States. Learn more about PCCP at www.pccpllc.com.

With assets of $68.3 billion, OPERS is the largest public pension fund in Ohio and the 12th largest public pension fund in the U.S.

Contact: Darcie Giacchetto, Spaulding Thompson & Associates, Inc., 949-278-6224

Marcus & Millichap Sells 2.5 Acre Parcel of Development Land in Tampa

TAMPA, F – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the University of Tampa Land Development Opportunity, a 2.5 acre Land property located in Tampa, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $4,000,000.

Paul Bouldin (top right photo) , Marcus & Millichap’s Southeastern Land & Development Specialist, led Dorothy Jackman (top left photo) , Travis Prince (middle right photo) , and Jeffrey Meyer in the transaction for the Tampa office.

They were engaged as the exclusive agent to market the property on behalf of the seller, a single purpose LLC under the direction of a publicly traded Midwestern company.

The buyer, Florida Health Sciences Center, Inc., was represented by DeLaVergne & Company, a longtime Tampa area commercial real estate advisory and brokerage services firm.

The property is located at 722 West Kennedy Boulevard. The site is suitable for a number of residential and commercial uses. The buyer has made other acquisitions in the area, but did not disclose any immediate plans or intended uses.

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

HFF secures $10.4M financing for San Marcos, TX retail power center

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a $10.4 million financing for Red Oak Village, (top left photo)  a 176,693-square-foot retail power center in San Marcos, Texas.

Working on behalf of Lincoln Property Company, HFF associate director Travis Anderson  placed the 10-year, 5.5% fixed-rate first mortgage with Southwest Bank.

Completed in 2007, Red Oak Village is 87% leased to tenants including Best Buy, Marshalls, Bed Bath & Beyond, PetSmart, Ross Dress for Less and Carl’s Jr.

 The property is located at 2233 Interstate 35 South close to Texas State University and the Prime and Tanger Outlets in San Marcos, about halfway between Austin and San Antonio.

Lincoln Property Company is nationally recognized for its full-service, vertically integrated institutional investment and property management platform.

Since 1965, Lincoln has acquired and developed approximately $34.3 billion of residential and commercial property. Lincoln currently maintains a presence in 200 cities in the United States and currently manages over 120 million square feet of commercial properties and 135,000 multi-family units across the country.

Contacts:

Travis Anderson, HFF Associate Director, (214) 265-0880, tanderson@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

C&W negotiates new renewal for Walter P. Associates, Inc. engineering in Orlando, FL

Orlando, FL – Aug.t 16, 2010– Cushman & Wakefield of Florida, Inc. (C&W) Office Brokerage Senior Director Richard Solik (top right photo)  announced a renewal for Walter P. Moore and Associates, Inc in Lincoln Plaza downtown.

Mr. Solik represented the tenant, in the six-year deal for 5,400 sf. Lincoln Properties represented the landlord in the deal which commences on October 1.

The Houston-based engineering firm has worked on many high profile projects in Orlando including the Orlando Convention Center, Downtown Disney West and the Orlando International Airport.

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

Chesapeake Hospitality Announces Top Performers at 19th Annual General Manager’s Conference

GREENBELT, Md., Aug. 16, 2010—Officials of Chesapeake Hospitality, a highly ranked third-party hotel management company, today announced the names of its top performing hotels and operators, each of whom was formally recognized during the company’s 19th annual general managers conference held recently in Maryland.

“Our top performing properties and general managers continue to outpace the industry in terms of marketshare and guest satisfaction scores, impressive results achieved during one of the most difficult operating environments in our industry’s history,” said Kim Sims, Chesapeake president.

 “While it is important for us to recognize these individual accomplishments, the real winners here are our owners and guests who continue to be the beneficiaries of some of the highest standards of operating excellence in the hospitality industry.”

All winners were selected on performance-based criteria. This year’s winners include:

1. John Eliot; Holiday Inn Laurel East, Md. (top left photo)—New Comer of the Year/New GM Award (awarded to the hotel with the highest combination score of guest satisfaction, sales and marketing, brand citizenship and financial performance within the first 18 months of a new general manager’s start date)

2. Bill Winn, Holiday Inn Brownstone Raleigh, N.C (top right photo).—Overcoming Adversity Award (awarded to the property in the most difficult competitive position with the highest positive market share)

3. Rick Guttenberger; Shell Island Resort Hotel, N.C (middle left photo).—Most Improved Award (awarded to the property with the highest Year-Over-Year non-ramp-up share gain based on Smith Travel Research T12 reports )

4. Rod Musselman; Hilton Savannah Desoto, Ga. (bottom right photo)— Guest Service Excellence (awarded to the hotel with the largest increase in Year-Over-Year guest service scores based on brand defined measures)

5. Mike Keeler; Hilton Wilmington Riverside, N.C.(bottom left photo)—Forecast Excellence Award (awarded to the hotel based on trailing six month forecast results from 60 days out to actual date)

“With hotels finally beginning to see improvements in occupancy and rate, depending on market, excellent operating practices become more important than ever as a way to gain a competitive edge during the recovery, ” Sims added.

Headquartered in Greenbelt, Md., just outside of Washington, D.C., Chesapeake Hospitality is a mid-sized, third-party hotel management company with a proven track record in both full- and select-service hotels.

Ranked in the top 50 largest independent operators, the company manages properties under the Hilton, Starwood and InterContinental Hotel Group brand families.

For additional information, visit the company’s website: http://www.chesapeakehospitality.com/.

Contacts:
(media) Chris Daly, Senior Vice President; Jerry Daly;  Daly Gray Public Relations, ph: 703-435-6293, chris@dalygray.com  or jerry@dalygray.com
Follow us on Twitter: http://twitter.com/dalygray

 Joseph F Smith, management inquiries, (216) 496-9120,  jsmith@chesapeakehospitality.com

Arbor Closes $8M Fannie Mae DUS® Loan for 309 West 57th Street in New York, NY

Uniondale, NY (Aug. 16, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,000,000 loan under the Fannie Mae DUS® Loan product line for the 102-unit multifamily building known as 309 West 57th Street (top left photo) in New York, NY.

The five-year loan amortizes on a 30-year schedule and carries a note rate of 4.65 percent.

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

“This was the borrower’s first Fannie Mae and Arbor transaction,” Kaushansky said. “I’m glad we were able to provide the borrower with the most competitive terms out in the market.”

Helping to arrange the financing for the borrower was Zev Pollak, the broker of the deal, who noted, “The borrower was pleased with the fact that he received a below-market interest rate.”

Arbor Appoints Jennifer Caluri-Sullivan as Vice President, Marketing

Uniondale, NY (Aug. 16, 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 Jennifer Caluri-Sullivan (bottom left photo) to Vice President, Marketing, in Arbor’s Uniondale, NY, headquarters.

She reports to Bonnie Habyan, (bottom right photo)  Senior Vice President, Marketing.

Ms. Caluri is responsible for executing all phases of internal and external sales, employee, client and other corporate events.

She additionally oversees new business strategies for Arbor’s family of companies and its national sales team, including customer relationship management and client retention initiatives, as well as the management and oversight of all internal and external marketing disciplines, such as advertising, website design, digital communication, direct mailings, tradeshows and employee communications.

Ms. Caluri possesses more than 14 years of real estate marketing experience. Prior to joining Arbor, Ms. Caluri held the position of Director of Marketing and Corporate Communications at Greystone & Company, Inc., where she provided organizational leadership in identifying new business opportunities through advertising, public relations and special event initiatives, while also cultivating long-standing business relationships.

Ms. Caluri also previously held the position of Marketing Director at The Lefrak Organization, where she spearheaded marketing and branding strategies across all business communication mediums.

Ms. Caluri received a Bachelor of Business Administration-Marketing degree from New York’s Bernard Baruch College. Ms. Caluri is also a New York State-licensed real estate broker. She resides in Fair Lawn, NJ.

Contact: COstrowski@arbor.com