Marcus & Millichap's VP Roster Grows

MARCUS & MILLICHAP NAMES PETER VON DER AHE VICE PRESIDENT INVESTMENTS IN MANHATTAN OFFICE

NEW YORK, N.Y,— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Peter Von Der Ahe (top right photo) as a vice president investments. The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Edward Jordan, regional manager in the firm’s Manhattan office. Von Der Ahe joined Marcus & Millichap in 2002 and specializes in multi-family investment sales.

JAMIE MEDRESS NAMED FIRST VICE PRESIDENT INVESTMENTS IN PHOENIX OFFICE

PHOENIX, AZ— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Jamie Medress (left photo) to the position of first vice president investments. The achievement of first vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to David Guido, regional manager in the firm’s Phoenix office. Medress joined Marcus & Millichap in 1996 and specializes in retail and net-leased investment sales.

JACOB LEVY MOVES UP TO FIRST VICE PRESIDENT INVESTMENTS IN SAN FRANCISCO OFFICE

SAN FRANCISCO, CA — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Jacob Levy (photo at right) to the position of first vice president investments. The achievement of first vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Jeffrey Mishkin, regional manager in the firm’s San Francisco office. Levy joined Marcus & Millichap in 1979 and specializes in multi-family investment sales.

RICHARD MATRICARIA IS NEW VICE PRESIDENT INVESTMENTS IN FOR LAUDERDALE OFFICE

FORT LAUDERDALE, FL— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Richard Matricaria (photo at left) to the position of vice president investments. The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Gene A. Berman, managing director and regional manager in the firm’s Fort Lauderdale office. Matricaria joined Marcus & Millichap in 2002 and specializes in retail, office and industrial investment sales.

MARCUS & MILLICHAP NAMES THREE AGENTS VICE PRESIDENT INVESTMENTS IN SAN DIEGO OFFICE

SAN DIEGO, CA— The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Raymond Choi, (photo at right) Alvin Mansour (photo at left) and Ben Tashakorian (right photo under Choi) to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Kent Williams, regional manager in the firm’s San Diego office.

Choi joined Marcus & Millichap in 2000 and specializes in multi-family investment sales. Mansour joined the firm in 2003 and specializes in retail investment sales. Tashakorian joined the firm in 2002 and specializes in office and industrial investment sales.

GLEN KUNOFSKY PROMOTED TO SENIOR VICE PRESIDENT INVESTMENTS IN MANHATTAN OFFICE

NEW YORK, N.Y. — Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Glen Kunofsky (photo at left) to senior vice president investments in the Manhattan office, according to regional manager Edward Jordan.

“Glen has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Jordan. “He is a consummate professional, continually striving to expand his knowledge and expertise. Glen’s focus on client services has earned him a high degree of loyalty and respect from investors as well as his peers.”

Kunofsky joined Marcus & Millichap in June 2001, specializing in retail properties. He is a senior director of the firm’s National Retail Group. Kunofsky has been inducted into the prestigious Chairman’s Circle of Excellence three times and the Chairman’s Club five times. He has been honored with six National Achievement Awards and seven Sales Recognition Awards. He joined the firm’s Seven-Figure Club in 2004. Kunofsky earned his bachelor’s degree in hotel and restaurant management with a minor in business from Arizona State University.

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

Florida's Existing Home, Condo Sales Improve in 2Q 2008 Compared to 1Q 2008

ORLANDO, FL/PRNewswire/ -- During the second quarter of 2008, Florida Realtors(R) continued to report positive signs for the state's housing sector, such as an increase in pending home sales (based on contracts signed but not closed) and a slower rate of expansion of inventory levels in some areas.

Sales of both existing single-family homes and existing condominiums improved in second quarter 2008 from the first quarter of the year, according to the latest housing statistics from the Florida Association of Realtors(R) (FAR).

A total of 35,178 existing homes sold statewide in 2Q 2008, up 38.2 percent over 1Q 2008 when 25,443 homes sold. The statewide existing home median price in 2Q 2008 was $203,000, slightly higher than the $202,300 median price reported in 1Q 2008.

For a complete detailed copy of FAR's release, please contact

Marla Martin, Communications Manager, +1-407-438-1400, Ext.2326, or Jeff Zipper, Vice President of Communications, +1-407-438-1400, Ext.2314, both of Florida Association of Realtors(R) Web site: http://www.media.living.net/

Posner Commons Above 90 Percent Leased

ORLANDO, FL- Jorge Rodriguez, (top right photo) CCIM of Asset Services for CB Richard Ellis, the world's leader in commercial real estate, is pleased to announce today's grand opening of the first Dick's Sporting Goods in Central Florida at Posner Commons,(bottom left photo) US Hwy 27 and Interstate 4 in Davenport, Florida.

This anchor tenant joins Target, Books-A-Million, Best Buy, Belk and Staples who opened for business earlier this year. Other stores which have recently opened include: JC Penney, Michael's, Dollar Tree and PetSmart.

"We're elated and honored to have the first Dick's Sporting Goods store opening in Central Florida at Posner Commons. Selective opportunities remain available starting at 1,400 square feet and our remaining target categories include: fast casual restaurants, soft goods, professional services, beauty, and optical," Rodriguez said.

Contact:

Jorge Rodriguez, 407.404.5014

jorge.rodriguez@cbre.com

Grubb & Ellis|Commercial Florida negotiates sale of 25,300 square feet of warehouse / distribution space

ORLANDO, FL--Grubb & EllisCommercial Florida, associated with 200 Grubb & Ellis offices worldwide, has negotiated the sale of a 25,300 square foot warehouse-distribution facility at 4351 35th St. in Orlando.

Richard T. Davis, Jr.,(top right photo) vice president in the firm’s Industrial Services Group and Nick Sands, (bottom left photo) associate, negotiated the sale on behalf of the seller, PDMG Holdings, LLC.

The buyer, Altier Properties, LLC paid $2,175,000 for the property and was represented in the transaction by Wilson McDowell of Colliers Arnold.

Contacts:

Richard T. Davis, Jr., 407.481.5395, rdavis@commercialfl.com
Nick Sands, 407.481.5407, nsands@commercialfl.com

GVA Advantis Hires Justin Savich as New Land Associate in Central Florida

ORLANDO, Fl – GVA Advantis has hired Justin Savich (top right photo) as the most recent addition to its land services team in Central Florida. He will be based in the firm’s Orlando office and will focus on client needs in the Greater Orlando area.

“We’re very excited to have Justin as part of our land division,” says Executive Director Mark Cooney.(bottom left photo) “With his experience in the real estate business and an extensive knowledge of both the Greater Orlando and Tampa Bay markets, he’s the perfect fit for our team.”

Most recently Savich worked with Flagship Development in Orlando. Prior to joining Flagship Development, he had more than eight years experience working alongside his family’s real estate and development company.

Born and raised in Tampa, Savich is a graduate of the University of Central Florida, where he earned a Bachelor of Science degree in marketing with an emphasis in real estate. Savich has lived in Orlando for the past six years, and has traveled all over the world as a professional wakeboarder.

CONTACT:

Lisa Hyde, Director of Marketing, Advantis Real Estate Services Company, 3000 Bayport Drive, Suite 100, Tampa, Florida 33607. Tel 813.342.4752. Fax 813.342.4004.

Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

HFFS arranges programmatic joint venture equity, initial funding for Linchris Hotel Corporation’s acquisition of two Massachusetts hotels

BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.), through its HFF Securities affiliate, has arranged programmatic joint venture equity for Linchris Hotel Corporation.

The initial funding was used for the acquisition and subsequent reflagging of two hotels, the Doubletree Hotel in Milford (top left photo) and the Holiday Inn in Rockland, Massachusetts.(top right photo)

HFFS director Janet Krolman (middle right photo) and HFF director Greg LaBine (middle left photo) worked exclusively on behalf of the borrower to secure programmatic joint venture equity with CrossHarbor Capital Partners.

“This venture provided Linchris with access to the capital to continue actively acquiring additional hotel properties in the near and longer term and further allows Linchris greater surety of execution,” stated Krolman.

“CrossHarbor actively seeks strong acquisition opportunities with top operating partners across all asset classes, including hotels, and making the investment with Linchris a great match,” added LaBine.

“We are pleased to be partnering with Linchris. Both firms share a common acquisition and investment philosophy and in seeking the strongest operating partners across all asset classes, Linchris clearly meets that standard for hotels. We believe the strategic alliance will allow both firms the ability to capitalize on opportunities in the lodging sector,” said Dan Jacobson of CrossHarbor Capital Partners.

The Doubletree Hotel is located at 11 Beaver Street off Interstate 495 and close to the Massachusetts Turnpike in Milford, approximately 27 miles southwest of Boston.

The five-story, 173-room property was renovated in 2007 and post-acquisition will receive additional improvements including new televisions and HVAC units. Hotel amenities include 8,500 square feet of meeting and banquet space, Legends Sports Bar and Grille, Il Cigno restaurant, an indoor pool, a fitness center and a business center.

Situated 15 miles south of Boston at 929 Hingham Street in Rockland, the former Radisson Hotel will be reflagged as a Holiday Inn. The hotel is convenient to Route 3 South and area business parks. The property, the only comparable full-service hotel in its market, has five stories with 127 rooms and on-site amenities include 3,800 square feet of meeting and banquet space, a 96-seat restaurant, a fitness room, an outdoor pool and a business center.

As part of the reflagging effort, the hotel will undergo a renovation of the lobby, common areas and guestrooms.

CONTACTS:

Janet N. Krolman, HFFS Director, 617 338 0990, jkrolman@hfflp.com

Gregory F. LaBine, HFF Director, 617 338 0990, glabine@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Liberty Property Trust Acquires Class A Office Building in Sawgrass International Corporate Park

BOCA RATON, FL - Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages nearly two million square feet of office and industrial properties in South Florida, today announced that it has purchased a 106,910 square foot Class A office building in Sunrise, Florida.

The building, located at 13621 NW 12th Street in Sawgrass International Corporate Park, (top right photo) was purchased from Real Estate Capital Partners. It is currently 100% leased to UnitedHealthcare.

“This acquisition allows us to expand our presence in Sawgrass International Corporate Park and gives us an excellent opportunity to continue to grow our national relationship with UnitedHealthcare, a Liberty tenant located in our Maryland, Minnesota and North Carolina regions,” said Andy Petry, (miidle right photo) Vice President Leasing and Development, Liberty Property Trust.

Located just west of Fort Lauderdale, the Sawgrass International Corporate Park is a 612-acre planned business park which provides office, flex and light industrial space. Park amenities include hotels, restaurants, child-care, fitness centers and retail shops.

In addition to the new acquisition, Liberty currently owns and operates three office buildings in Sawgrass International Corporate Park (1301 International Parkway building, 13360 NW 8th Street building and 13650 NW 8th Street building), totaling nearly 200,000 square feet.

Sawgrass International Corporate Park is strategically located at the intersection of I-75, I-595, the Sawgrass Expressway and within 15 minutes of the Fort Lauderdale International Airport and 30 minutes of the Miami International Airport.

Liberty Property Trust (NYSE:LRY), headquartered in Malvern, PA, is dedicated to enhancing people’s lives through extraordinary work environments. The real estate investment trust (REIT) serves customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties.

Liberty's 75 million square foot portfolio offers exceptional locations and flexible design to more than 2,100 tenants at 700 office, distribution and light manufacturing facilities. The company is a leader in the development of high performance green buildings. For more information visit http://www.libertyproperty.com/.

CONTACTS:

Andy Petry, Liberty Property Trust, 561/999-0310
Media: Margo Hunt Winans, a.s.a.p.r., 757/404-8653

Estately Real Estate Search Introduces Online Property Search Collaboration Tools Consumers Can Share Their notes, favorites and searches

SEATTLE, WA -- Estately has introduced online collaboration tools to make it easier for home shoppers to let their friends and family participate in their home search.

Consumers can use the Seattle, Washington based real estate search website's new tools to share notes on hundreds of thousands of homes for sale and to see what properties their friends and family are saving. Consumers can see all of their friends and family's feedback on a property in one place. (http://www.estately.com/)

"Very few of our customers are searching for a home alone. Whether it is their spouse, their mom, their best friend or their Realtor who they are collaborating with, people want feedback on homes in their price range and they want to share their short list with each other." said Galen Ward, (top left photo) co-founder of Estately.com. "People searching for real estate haven't had a good way to collaborate on their home search until now."

Consumers can also make their My Estately page public with the click of a button and invite anyone, from blog readers to MySpace friends, to see their saved homes and notes at a convenient url. A sample page can be seen at Estately.com/users/sample.

About Estately

Estately (http://www.estately.com/) is a privately held real estate search site that makes it quick and easy to search from hundreds of thousands of Seattle, Portland, San Diego, and Bay Area homes for sale on a map, view precise details about each home, and see what parks, schools, restaurants, transit stops and more are near each home.

Estately was the recipient of the 2008 Inman Innovator Award for Best Real Estate Web Service. Estately is a licensed real estate brokerage in the states of Washington and California and is a member of over a dozen Washington, Oregon and California MLSes. Visit Estately.com for more information.

Contact: Galen Ward, press@estately.com, 206-274-9138

Marcus and Millichap Sells 2,240-SF Assisted Living Care Property

BROOKLSVILLE, FL, Aug. 14, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Roseland Retirement Home (top right photo) located in Brooksville, Florida, according to Steven M. Ekovich, First Vice President/Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $265,000. Damien Carriero had the exclusive listing to market the property on behalf of the seller, Frank Furino.

The buyer, Steven Cole, was secured and also represented by Damien Carriero, (middle left photo) an investment specialist in Marcus & Millichap’s Tampa office.

The facility was built in 1960 and situated on +/- 5.5 acres. The living area is approximately 2,240-square feet and is made up of nine total rooms and three full bathrooms. The new owners can expand to an additional 31 beds for a total of 43 beds.

Press Contact:s:

Steven M. Ekovich, First Vice President/Regional Manager, Tampa, (813) 387-4700
Sue Sampson, Marcus & Millichap, 7650 Courtney Campbell Causeway, Suite 920, Tampa, FL. 33607. Phone: (813) 387-4700. Fax: (813) 387-4710

HFF arranges $30M first mortgage for suburban Seattle multifamily community

HARTFORD, CT – The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $30 million first mortgage financing for Campus Grove Apartments,(top right photo) a 309-unit multifamily community in suburban Seattle, Washington.

Working exclusively on behalf of CREA/Legacy Federal Way, LLC, HFF senior managing director Dana Brome (top left photo) and director Susan Larkin (middle right photo) placed the five-year loan with Cigna Investments.

The 5.91% fixed-rate financing will be serviced by HFF. CREA/Legacy Federal Way, LLC is a joint venture between Legacy Partners and Cornerstone Real Estate Advisers on behalf of MassMutual Life Insurance Company.

The borrower is using loan proceeds for a complete interior and exterior renovation of the community, which was originally built in 1991.

Campus Grove Apartment is situated on a 23.8-acre site at 1300 Campus Way Southwest in the southern Seattle suburb of Federal Way. The 85% leased property has 67 buildings with two- and three-bedroom townhomes featuring fireplaces and private patios/balconies. Community amenities include an outdoor swimming pool, sport court, fitness center, walking trails and meeting rooms.

“The newly renovated complex will be renamed Arcadia and is expected to achieve substantially higher rental rates and attract a higher quality of tenants than currently exists at the property,” said Brome. “Cigna provided a flexible structure, which allowed the borrower to draw full dollars today even though the asset’s NOI is not fully stabilized.”

CONTACTS:

Dana E. Brome, HFF Senior Managing Director, 860 275 6199, dbrome@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

NAR's Second-Quarter Survey Shows Home buyers Responding to Lower Metro Prices

WASHINGTON, DC (August 14, 2008) – Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the National Association of Realtors.

Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country.

Lawrence Yun, (top right photo) NAR chief economist, said a clear cause-and-effect response has developed in the housing market. “The biggest home-sales gains over the previous quarter have been in some of the markets with the steepest and fastest price drops,” Yun said.

Compared with the first quarter, existing-home sales increased 25.8 percent in California, 25.0 percent in Nevada, 20.5 percent in Arizona and 10.1 percent in Florida. “Buyers in these areas are responding to deeply discounted home prices.”

In the second quarter, 35 out of 150 metropolitan statistical areas 1 showed gains in median existing single-family home prices from the second quarter of last year, while 115 had price declines. NAR’s track of metro area home prices dates back to 1979.

NAR President Richard Gaylord, (middle left photo) a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said foreclosures are distorting the price data.

“In many areas with large concentrations of foreclosure sales, homes are being purchased below replacement cost values,” Gaylord said. “Many buyers with long-term expectations are getting exceptional value in the current market.

"Once the inventory is drawn down, price pressure will return because the costs of construction are rising – today’s buyers are very well positioned to build wealth over time.”

A separate recent study by the National Bureau of Economic Research, “Housing Supply and Housing Bubbles,” shows construction costs in 2007 were higher than home prices in 33 out of 79 metro areas studied.

According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage rose to 6.09 percent in the second quarter from 5.88 percent in the first quarter; the rate was 6.37 percent in the second quarter of 2007.

For a complete copy of NAR's release, please contact Walter Molony, NAR Public Affairs, 202/383 1177 wmolony@realtors.org

Mercantile Commercial Capital Eyes Best Year Ever in 2008

ALTAMONTE SPRINGS, FL -- Mercantile Commercial Capital, LLC, which specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reports that 2008 is shaping up to be its best year ever.

Christopher Hurn, (top right photo) president and chief executive officer of Mercantile Commercial Capital, said that since the firm closed on its first commercial loan in June 2003, it has since provided 227 commercial loans valued at more than $318 million.

So far this year, Mercantile Commercial Capital’s revenues are up more than nine percent over last year, loan volume is up 12 percent and profits are up five percent.

Hurn said an additional measure of the firm’s success is new job creation.

“The SBA 504 loan program ranks as one of the most valuable programs the U.S. government offers for economic development because it is a capital loan program that targets new employment,” he said.

Using the SBA formula, Mercantile Commercial Capital’s efforts have so far led to the creation of more than 2,274 new jobs--- 1,444 of them in Florida.

For more informatio, please contact
Chris Hurn, Mercantile Commercial Capital, LLC 407-786-5040
Robin Lashley, Mercantile Commercial Capital, LLC 407-786-5040
Larry Vershel or Beth Payan, LV Communications, 407-644-4142

Realtor(R) Award Finalists Volunteer to Make a Difference

CHICAGO, Aug. 14 /PRNewswire-USNewswire/ -- Realtors(R) across the country are making extraordinary commitments to improve the quality of life in their communities.

The National Association of Realtors(R) today announced 10 such individuals as finalists for REALTOR(R) Magazine's 2008 Good Neighbor Awards.The Good Neighbor Awards program, now in its ninth year, recognizes Realtors(R) who generously volunteer their time to help others.

These Realtors(R) often donate countless hours and dollars to organizations that help those in need and make their community a better place to live.In October, five winners will be selected from among the 10 finalists and will receive travel expenses to the 2008 REALTORS(R) Conference & Expo in Orlando in November, national media exposure for their community cause, and a $10,000 grant for their charity.

In addition to the winners, five honorable mentions will receive a $2,500 grant. The winners will be announced in the November issue of REALTOR(R) Magazine.

"The Good Neighbor Awards is our way of thanking our most outstanding Realtor(R) volunteers, who are not only making a difference in the lives of many, but also are helping build stronger, healthier communities," said NAR President Dick Gaylord,(top right photo) a broker with RE/MAX Real Estate Specialists, Long Beach, Calif.

"We are extremely proud to recognize these finalists and are truly inspired by their enthusiasm and commitment to giving back to the communities in which they live and work.

The Realtor(R) Good Neighbor Awards finalists are:

Mary E. Bacon, (photo at right, below Gaylord) Bob Parks Realty, LLC, Mt. Juliet, Tenn., Mt. Juliet Help Center

Lei Barry, ( left photo) Keller Williams Real Estate, Blue Bell, Penn., Inter-Faith Housing Alliance

H. Burton Foster, (middle right photo, under Bacon) Century 21 Gold Standard, East Aurora, N.Y., Matthew Foster Foundation

Scott (lower right photo, underneath Foster) and Robin Gwaltney,(lower left photo) Coldwell Banker at Your Service Realty, Ltd., Rochester, Minn., Rochester Better Chance

Reita Hutson, John Hall and Associates, Scottsdale, Ariz., Gabriel's Dream, Inc.

Victor Kee, Pete Anderson Realty, Inc., Astoria, Ore., Sunday Supper and Sunday Meals on Wheels

Caroline McCartney, GSH Real Estate Corp., Norfolk, Va., St. Jude Children's Research Hospital

John Neibarger, Key Properties, Realtors(R), Johnstown, Ohio, Mary E. Babcock Library, Inc.

David Pap, Coldwell Banker Residential Brokerage, Cambridge, Mass., Cambridge Housing Assistance Fund

Sheila Stevens, Prudential Georgia Realty, Suwanee, Ga., The Sport of Giving Inc

For a complete detailed copy of NAR's release, please contact Sara Geimer, +1-312-329-8296, or Sara Weis, +1-202-383-1013, both of the National Association of Realtors.