CB Richard Ellis Announces LEED Accreditations

ORLANDO, FL- August 11, 2008 - CB Richard Ellis announces LEED Accreditations for managers Denise Pickles (top right photo) and Chase Brackett.(top left photo)

Denise Pickles is the first of Florida's Local Market Area (LMA) Project Managers to become LEED Accredited.

Denise is a valuable member of the Orlando Project Management Team beginning her real estate and construction career working for a boutique retail project management firm in Orlando. In addition, Denise is the first project manager in CBRE's network to earn accreditation.

Chase Brackett, Development Manager with Trammell Crow, has also been accredited. Chase is responsible for all aspects of development administration, where his experiences as a general contractor, preconstruction manager and a developer bring valuable team management skills to a project during all construction phases.

Additionally, his attention to detail and understanding of schedules, design objectives, value engineering, best practices and budget management help deliver each project to meet our client's expectations.

CBRE has taken a proactive role in guiding landlords through the LEED Existing Building (EB) program and incorporating LEED for Commercial Interiors (CI) into tenant build out scopes.

CONTACTS:

Denis Pickles, Project Manager, denise.pickles@cbre.com

Chase Brackett, Development Manager, chase.brackett@cbre.com

Cousins Properties Reports Results for Quarter Ended June 30, 2008

ATLANTA--(BUSINESS WIRE)--Aug. 11, 2008--Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the three and six months ended June 30, 2008. All per share amounts are reported on a diluted basis; basic per share data is included in the Condensed Consolidated Statements of Income accompanying this release.

"With economic conditions continuing to deteriorate, leasing remains a top priority for us, and our team is looking for distressed transactions where we can use our expertise to create value for our shareholders," said Tom Bell, (top right photo) chairman and CEO of Cousins.

"Fortunately, our tract sales business - selling entitled land to users or other developers - continues to be a bright spot this year and highlights a sometimes overlooked but important recurring business for Cousins.

"During the second half of the year, we will continue to press on the lease-up of our existing projects while aggressively pursuing opportunities that result from this down cycle," Bell added.

Funds from Operations Available to Common Stockholders ("FFO") was $16.1 million, or $0.31 per share, for the second quarter of 2008 compared with FFO of $9.4 million, or $0.18 per share, for the second quarter of 2007. FFO was $29.9 million, or $0.58 per share, for the six months ended June 30, 2008, compared to $33.9 million, or $0.63 per share, for the same period in 2007.

Net Income Available to Common Stockholders ("Net IncomeAvailable") was $2.9 million, or $0.06 per share, for the second quarter of 2008 compared with Net Income Available of $395,000, or $0.01 per share, for the second quarter of 2007.

Net Income Available was $4.8 million, or $0.09 per share, for the six months ended June30, 2008, compared with $14.8 million, or $0.28 per share, for the same period in 2007.

For a complete detailed copy of the company's news release, please contact James A. Fleming, Executive Vice President and Chief Financial Officer, 404-407-1150, jimfleming@cousinsproperties.com or Matt Gove, Senior Vice President, 404-407-1490, mattgove@cousinsproperties.com

Robert Anderson Appointed Director in Arbor’s Atlanta, GA Office

UNIONDALE, NY (August 11, 2008) – Arbor Commercial Mortgage announces the appointment of Robert Anderson to Director in Arbor’s Atlanta, GA office. Mr. Anderson will be responsible for all of Arbor’s loan products including Fannie Mae, FHA, CMBS, Bridge, Mezzanine and Preferred Equity. He reports to Ken Fazio, (top right photo) Vice President, National Sales Manager.

Mr. Anderson brings over 20 years of loan production and transaction structuring experience to Arbor. Prior to joining the Company, he held the position of Regional Director at Hometown Commercial Capital.

In this role, he was responsible for the origination of commercial real estate mortgages ranging in size from $1 million to $15 million, and was the highest volume producer in this group.

Before Hometown Commercial Capital, he served as the Southeast Director of Commercial Real Estate for Greystone Servicing Corporation, where he specialized in small balance transactions ranging from $250,000 to $5 million.

Previous to Greystone, he served as Vice President, Originations for Column Financial, where he produced over $120 million in fixed rate and securitized small balance commercial real estate transactions. Additionally, he also held origination and underwriting positions with Ocwen Federal Bank.

Mr. Anderson holds a Bachelor of Science in Business Administration with a concentration in Finance and Management from the University of Richmond. He is a member of the Mortgage Bankers Association and the Real Estate Investment Advisory Council. He resides in the metro Atlanta area.

Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com

Job Growth will drive Occupancy, New Apartment Development in Orlando Region, says Leading Analyst

ORLANDO, FL --- Positive signs for Central Florida job growth, including development of new healthcare and medical research facilities in east Orlando, will likely drive rental apartment occupancies and new development in the Central Florida region over the next few years, says a leading multi-family development executive.

Cole Whitaker,(top right photo) Orlando partner of Hendricks & Partners, one of the nation’s leading multi-family development consultants, said the slowdown in rental apartment development over the last few years is another contributing factor.

“I think occupancies are going to strengthen and we’ll see some real rent growth, especially in 2009 and into 2010,” Whitaker said.

Whitaker, who has negotiated sales of Central Florida rental apartment properties and development sites that total more than three billion dollars since 1983, said a growth boom could emerge quickly in south Orange County and Osceola County over the next two years.

(Post Lake Apartments at Baldwin Park, Orlando, middle left photo)

“With more than a half a dozen major new apartment developments planned along the U.S. 192 corridor, Osceola County is expected to grow faster than any of the other five counties in the region,” he said.

“Osceola County’s Growth Management Plan currently shows six large Developments of Regional Impact planned to accommodate more than 30,000 housing units east of Lake Toho,” Whitaker said. “Most of those DRIs include apartment zoning,” he said.

New healthcare and medical research facilities under development in east Orlando, including the University of Central Florida College of Medicine and the Burnham Institute for Medical Research near Lake Nona, will drive development of ancillary and support facilities in that area, Whitaker said.

“We will see a number of new high-end apartment projects in southeast Orlando to serve those populations,” he added.

(Camden Lee Vista Apartments near Orlando International Airport, , bottom right photo)

For more information, contact:

Cole Whitaker, Partner, Hendricks & Partners, 407-256-9594
Don Hendricks, Chairman/CEO Hendricks & Partners 602-912-1620
Larry Vershel, Larry Vershel Communications 407-644-4142

Planned New Lakeland, FL Social Security Administration Building Gets $3.2M Loan

ORLANDO, FL—August 11, 2008— Doug Rozzell, (middle left photo) Principal for Thomas D. Wood and Company, secured financing in the amount of $3,206,753 for the Lakeland Social Security Administration Building in Lakeland, Florida.

The loan was financed through Thomas D. Wood and Company’s relationship with a national financial institution at a permanent fixed rate of 6.8%.

The loan term is 10 years with a 20-year amortization, and a loan-to-cost of 97%. The 14,212 square-foot single-tenant office building will be built on 2.8 acres at 550 Commerce Drive, Lakeland, Florida.

The website may be accessed through http://www.tdwood.com/.
For further information, please contact:

Doug Rozzell, (407) 937-0470, drozzell@tdwood.com

Jessica Gurtowski, (407) 937-0470, jgurtowski@tdwood.com

Demand Eases for Miami Office Properties but Investors Focus on Assets with Strong Tenant Mix

(Above, Biscayne Bay Bridge, connecting Miami with Miami Beach.)

MIAMI, FL — Strengthening ties to foreign economies support a positive long-term outlook for the Miami-Dade County office market, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Demand is slackening in response to a loss of office-using jobs, especially in the professional and business services sector.

“Investors will continue to focus on assets with a strong mix of tenants, minimal competition from new supply and locations near primary transportation routes,” says Kirk Felici, (top right photo) regional manager of the Miami office of Marcus & Millichap.

Following are some of the most significant aspects of the Miami Office Research Report:

· Builders will deliver 400,000 square feet of office space this year.

· Vacancy is forecast to end the year at 10.2 percent.

· Asking rents are projected to advance 3.7 percent in 2008 to $30.06 per square foot.

· Effective rents are expected to tack on 2.8 percent to $25.64 per square foot.

· Demand for Class B properties increased 29 percent in the past 12-month period.

For a copy of the complete Miami Office Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

With more than 1,300 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap Real Estate Investment Services is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments.

In 2007, the firm closed $20.7 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

http://www.marcusmillichap.com/

Jackson-Shaw Awards Concord Hospitality Management Contracts for Two Dallas-Area Properties

Two Marriott Hotels Will Anchor 100-Acre Master-Planned Community

RALEIGH-DURHAM, N.C. – August 11, 2008 – Jackson-Shaw, a national real estate development and investment firm, today announced that it has awarded management contracts to operate two Marriott properties in the Dallas area to Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators.

Concord also will provide pre-opening services for the hotels.

The two properties, a 102-room Residence Inn and 104-room Fairfield Inn & Suites, will anchor The Cascades at The Colony, (top right photo) Jackson-Shaw’s 100-acre, master-planned community in The Colony, Texas, a suburb of Dallas.

The hotels are expected to open in the spring of 2009 and represent Jackson-Shaw’s continued commitment to expanding its hotel portfolio, with the planned development of another property in Dallas and one in Jacksonville, Florida.

“We went through an extensive process to choose a hotel management company that was aligned with our vision for the community, as well as with our values as a developer,” said Christopher Sheldon, (middle right photo) vice president of hotel operations at Jackson-Shaw.

“Concord has the expertise and experience to deliver the level of quality and excellence we expect for these properties, which are located along a major corridor in an emerging suburb.”

The addition of the two contracts increases Concord’s managed properties to half of the company’s total portfolio of more than 50 hotels, and moves the company towards its stated goal of doubling its portfolio size by 2010

Contacts: Melanie Boyer or Jerry Daly, (703) 435-6293.

S&P: Fannie Mae 'AAA/A-1+' Senior Debt Rating Affirmed, Others Off Watch, Lowered; Outlook Negative

NEW YORK Aug. 11, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AAA/Stable/A-1+' senior debt rating on Fannie Mae.

At the same time, we lowered our risk-to-the-government rating on Fannie Mae to 'A' from 'A+', and our preferred stock and subordinated debt rating to 'A-' from 'AA-'.

These ratings were removed from CreditWatch Negative where they were placed July 25, 2008. The outlook is negative.

(Top left photo, Federal Reserve Bank, Washington, D.C.)

The affirmation of the senior debt ratings reflects the strong explicit and implicit U.S. government support these securities hold in the marketplace, as evidenced by the recent U.S. Treasury actions. This underscores the key public policy role and the key liquidity role the congressionally chartered government-sponsored enterprises (GSEs) have in the U.S. mortgage market.

"The lower risk-to-the-government rating reflects the company's worsening financial profile, which is pressured by the continued home price declines in some of its key markets, higher credit related expenses, and capital challenges," said Standard & Poor's credit analyst Victoria Wagner.

For a complete copy of S&P's news release, pleasse contact Jeff Sexton, New York, (1) 212-438-3448, jeff_sexton@standardandpoors.com

Analyst Contacts:
Victoria Wagner, New York (1) 212-438-7406
Daniel E Teclaw, New York (1) 212-438-8716

S&P: Freddie Mac 'AAA/A-1+' Senior Unsecured Debt Rating Affirmed; Others Off Watch, Lowered

NEW YORK, Aug. 11, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AAA/Stable/A-1+' senior unsecured debt rating on Freddie Mac.

At the same time, we lowered our subordinated debt and preferred stock ratings on Freddie Mac to 'A-' from 'AA-' and our risk-to-the government rating to 'A' from 'AA-'. These ratings are removed from CreditWatch Negative where they were placed July 25, 2008. The outlook is negative.

The affirmation of the 'AAA/A-1+' senior debt rating reflects the strong explicit and implicit U.S. government support these securities hold in the marketplace, as evidenced by the recent U.S. Treasury actions. This underscores the key public policy role and the key liquidity role the congressionally chartered government-sponsored enterprises (GSEs) have in the U.S. mortgage market.

"The lower risk-to-the-government, subordinated debt, and preferred stock ratings reflect Freddie Mac's pressured capital position in the face of higher operating losses. The risk-to-the-government rating measures Freddie Mac's "stand-alone" creditworthiness (i.e., its credit quality absent extraordinary government support).

" Higher credit expenses are the driver of net operating losses, as Freddie Mac is not immune to the weak housing markets," said Standard & Poor's credit analyst Victoria Wagner.

For a complete copy of S&P's news release, please contact
Jeff Sexton, New York, (1) 212-438-3448, jeff_sexton@standardandpoors.com

Analyst Contacts:
Victoria Wagner, New York (1) 212-438-7406
Daniel E Teclaw, New York (1) 212-438-8716

Cooling Economy Has Minimal Impact on CBD Office Market in Chicago

(Above, The Magnificent Mile shopping district in Downtown Chicago,)

CHICAGO, IL — After a solid performance in 2007, office fundamentals in Chicago began to soften in the first half of this year due to a cooling local economy, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm. (O'Hare International Airport, top right photo)

The CBD office market, on the other hand, is relatively insulated from housing-related weakness, and fundamentals in the area are anticipated to remain healthy this year.

“Investors with market knowledge and elevated risk tolerance are seeking value-add properties in the Northwest suburbs and O’Hare submarkets, where cap rates are in the low- to-mid-8 percent range,” says John Przybyla, regional manager of the Chicago Downtown office of Marcus & Millichap.

Following are some of the most significant aspects of the Chicago Office Research Report:

· Completions are expected to reach nearly 2.6 million square feet in 2008, adding 1.1 percent to inventory.

· Vacancy is forecast to end the year at 16.4 percent.

· Asking rents are projected to finish the year at $27.43 per square foot, rising 2.9 percent.

· Effective rents will gain 1.9 percent to $22.39 per square foot.

· Office-using employment growth in Lake and Kenosha counties has outpaced the rest of the metro with roughly 2,000 jobs added, a 1.9 percent increase.

For a copy of the complete Chicago Office Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

(Bottom right photo, Downtown shopping district)

MSI Starts Work on Major Expansion of Northrop Grumman’s Clean Rooms and Central Energy Plant in Apopka, FL

ORLANDO, FL – Orlando-based Mechanical Services, Inc. (MSI) is under way on a major expansion of Northrop Grumman’s Clean Rooms and Central Energy Plant in Apopka, FL, near Orlando, under its contract with Gettysburg Commercial Corporation, Orlando. (Photo of Northrop's Defensive Systems Division in Apopka at top right).

MSI is supplying and installing precise tolerance air conditioning systems designed by Peninsula Engineering, Orlando.

In addition, MSI’s scope of work includes construction of a new Class 10,000 Clean Room including air handling systems, duct work, controls and high efficiency filtration along with a 550-ton expansion of the factory’s Central Cooling Plant.

“State-of-the-art mechanical systems are a critical component of today’s high-tech office environments,” said William M. Dillard, Chief Executive officer of MSI. “We are pleased to provide the latest in Clean Room and Central Energy Plant Technology to Northrop Grumman in Orlando.”

Contact: Kenneth H. Cristol 407-774-2515

CB Richard Ellis Named Exclusive Sales Agent for 184-Unit Apartment Community in Orlando, FL

ORLANDO, FL-- CB Richard Ellis, the world's leading commercial real estate services provider, has been named the exclusive sales agent for The Outrigger Apartments (top right photo) located at 1001 Shoreview Drive in Orlando, Fla. The 184-unit property consists of 17 two-story garden-style apartment buildings with an average unit size of 754 sq. ft.

Shelton Granade, (top left photo) first vice president, and Luke Wickham,(bottom right photo) associate, have been retained to exclusively represent the owner of the residential community.

"The Outrigger offers potential investors a great opportunity to acquire a stabilized, infill asset with tremendous upside potential," Granade said. "The property is a value-add opportunity next to the prestigious Baldwin Park planned community and just five minutes from downtown Orlando. As gas prices continue to rise, infill communities like Outrigger should be in high demand."

Built in 1975, The Outrigger Apartments is located near the intersection of State Road 50 (Colonial Drive) and State Road 436 (Semoran Boulevard).

CONTACTS:

Rebecca Thomas, 305.381.6485, rebecca.thomas@cbre.com

Shelton Granade, shelton.granade@cbre.com

Luke Wickham, luke.wickham@cbre.com

Adelaide Polsinelli Joins Manhattan Office of Marcus & Millichap

NEW YORK, N.Y.-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Adelaide Polsinelli (top right photo) as an associate vice president investments in the Manhattan office, according to Edward Jordan, regional manger of the Manhattan office.

“Several local real estate firms were pursuing Adelaide for her many talents, including her excellent negotiating skills, her long-term relationships with many of New York City’s high-profile investors and her impressive track record of investment sales.

"Adelaide is one of the most successful commercial real estate brokers in New York,” explains Jordan. “We are honored that she ultimately selected Marcus & Millichap. Our firm’s access to a nationwide pool of investment capital was one of the factors that attracted her to Marcus & Millichap.”

As an associate vice president investments, Polsinelli will handle a variety of property types, including land developments; multi-family, retail, office, loft buildings, user-owner properties, hotels and parking garages.

“Marcus & Millichap’s extensive national platform and its ability to access more investment capital than any other company are very impressive,” Polsinelli says. “This platform, along with the firm’s commitment to providing the business development tools necessary to grow my business, were very enticing.

"Furthermore, Marcus & Millichap has developed an excellent reputation as a leading investment sales brokerage firm in New York City.

"As a result, the firm has captured a significant market share and will continue to be competitive in the high-stakes New York market.”

Polsinelli has a wide variety of clients, including pension funds, institutions, high-net worth individuals and entrepreneurs.

Prior to joining Marcus & Millichap, Polsinelli was a senior investment broker at Besen & Associates, where she closed over 200 transactions in investment sales. Throughout her career, Polsinelli has arranged more than 660 commercial real estate transactions.

Press Contact: Stacey Corso,
Communications Department,
(925) 953-1716

NAI Realvest Negotiates New Lease Agreement in Orlando Central Park

ORLANDO, Fla. NAI Realvest has negotiated a lease agreement for 1,500 square feet of office space at Orlando Central Park (bottom right photo), 7200 Lake Ellenor Dr., suite 245 in Orlando.

Tom Kelley, CCIM, principal and office leasing specialist at NAI Realvest and associate Don Rudolph,(top left photo) CCIM, negotiated the transaction representing the landlord, Dallas-based Tarragon Corporation.

The tenant is Global Travel Alliance, LCC of Billings, Mont.

For more information, contact:
Tom Kelley, CCIM, Principal NAI Realvest 407-875-9989, tkelley@realvest.com

Don Rudolph, CCIM, associate at NAI Realvest 407-875-9989 drudolpd@realvest.com

Janice Paiano, Director of Marketing, NAI Realvest 407-875-9989 mailto:jpaiano@realvest.comealvest.com

Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Web: http://www.nairealvest.com/.

CB Richard Ellis Leases Space to Hummus House Restaurant

ORLANDO, FL- - CB Richard Ellis, the world's leader in commercial real estate is pleased to announce Bobby Palta, Senior Associate in Retail Properties, represented Pebb Enterprises East Orlando, LLC in signing a 10-year lease on an 1,198-sq.-ft. space located at 11595 University Boulevard in Orlando, Florida, less than one mile from the main campus of University of Central Florida.

The Tenant, Generation H, LLC will be operating as Hummus House: a new restaurant startup focused on fresh ingredients. More information is available at http://www.hummushouse.com/.

They are planning to open in early September 2008 and will be joining Jimmy John's Gourmet Sandwiches, Cold Stone Creamery and Planet Smoothie.

"Restaurants focused on fresh ingredients and healthy preparation are prevelant in other parts of the country but are in short supply in Central Florida. This University location should bode well for this new restaurant concept and we look forward to their success in this retail center," says Palta.

Contact: Bobby Palta, 407.839.3124, bobby.palta@cbre.com