Cousins' Joel Murphy Retires; Helped Launch 'Avenue' Retail Concept

ATLANTA, GA-- Cousins Properties Incorporated (NYSE: CUZ) has announced that Joel Murphy (top right photo) is retiring from the Company, effective December 31, 2008.

Murphy has been with Cousins for 20 years and is currently executive vice president and chief leasing and asset management officer, where he has responsibility for the combined office and retail leasing and asset management teams and the Company's third-party services group.

Murphy previously served for 12 years as senior vice president and president of the Company's Retail Division. He has agreed to serve as a consultant to the Company after January 1, 2009.

"Over the years, Joel has helped Cousins become a leader inretail development. His presence and influence will be missed," said Tom Bell, (top left photo) chairman and CEO of Cousins.

"We sincerely appreciate his two decades of service and the great contributions he has made to our company. We are pleased Joel has agreed to consult with us after the first of the year and wish him the best as he embarks on this next phase of his career."

During his time with Cousins, Murphy played a critical role in the Company's retail development success, most notably in the creation and growth of the Company's award-winning Avenue(R) concept retail centers. The Avenue, which was introduced in 1998, brings together national retailers, specialty shops and local restaurants in a unique outdoor setting. The Company has now developed nine Avenue centers in four states.

Cousins Board Authorizes Plan to Repurchase Stock

ATLANTA, GA--Cousins Properties Incorporated(NYSE: CUZ) has announced that its Board of Directors has adopted a new plan authorizing the expenditure of up to $20 million to repurchase the Company's Series A and Series B Cumulative Redeemable Preferred Stock.

The Company may repurchase the shares from time totime in open market transactions, pursuant to a 10b5-1 purchase planand in negotiated and block transactions as market and business conditions warrant on or before May 6, 2009.

CONTACTS:

Investment Community: Elli Kaplan, Vice President, (404) 407-1972

ellikaplan@cousinsproperties.com

Media: Matt Gove, Senior Vice President, (404) 407-1490, mattgove@cousinsproperties.com

Web site address: http://www.cousinsproperties.com/

Stirling Sotheby's International Commercial Realty negotiates sales of two out parcels in Lake Mary, FL

LAKE MARY, Fla. -- Stirling Sotheby’s International Commercial Realty recently negotiated the sales of two out parcels at Rinehart Place, a 210,000 square foot mixed-use center under development on 23 acres on Rinehart Rd. and County Rd. 46A in the I-4 /Lake Mary corporate corridor.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty said broker associate Jeffrey Henwood (top right photo) negotiated both property sales.

Old Southern Bank, based in Clermont, paid $1.45 million for a 0.82-acre (+/-) out parcel at Rinehart Place and plans to build a 5,022 square foot branch bank with drive-through facilities.

CVS Pharmacy, the Delaware-based retail pharmacy chain, paid $2.35 million for its 1.5-acre (+/-) out parcel. Henwood said CVS plans to develop a 12,900 square foot retail store with drive-through pharmacy at Rinehart Place.

Construction of the bank recently started (in mid-October). CVS is expected to break ground in December.

Stirling Sotheby’s International Commercial Realty (http://www.stirlingcommercial.com/) is the exclusive marketing representative for Rinehart Place.

The developer of the highly visible medical/professional and retail center is MAQ Group Development based in Margate, Fla.

For more information, please contact

Jeffrey Henwood, Stirling Sotheby’s International Commercial 407-571-2222
Frank Dever, Stirling Sotheby’s International Commercial 407-571-2222
Roger Soderstrom, Stirling Sotheby’s International Realty 407-588-1260
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Sale of Houston’s Oak Park Office Center III closed by HFF

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Oak Park Office Center III, (bottom left photo) a 151,000-square-foot office building in Houston’s Westchase submarket.

HFF senior managing directors Robert Williamson (top left photo) and Jeff Hollinden (middle right photo) and associate director Barbara Guffey (top right photo) led the investment sales team on behalf of the seller, Realty Associates Oak Park III, L.P.

Grubb & Ellis Realty Investors, LLC purchased the property free and clear of debt for an undisclosed amount.

Situated on an 11.4-acre site at 6001 Rogerdale Road, Oak Park Office Center III is within the Oak Park at Westchase office park close to the intersection of Beltway 8 and the Westpark Tollway in Houston.

The two-story property was developed by Myers Crow & Saviers, Ltd. in 2008 and is fully leased to Jacobs Engineering for a 10 year term. HFF also arranged the prior sale of Oak Park Office Center I and II on behalf the same development team in 2004 and February 2008.

Myers, Crow & Saviers, Ltd. is a real estate development and investment firm focusing on the development of office and industrial buildings in Houston, the Dallas/Fort.Worth metroplex and San Antonio.

Grubb & Ellis Realty Investors, the real estate investment and asset management subsidiary of Grubb & Ellis Company, offers a full range of commercial real estate investment programs.

Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $5.7 billion located across 30 states.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Robert E. Williamson, HFF Senior Managing Director, 713 852 3500, rwilliamson@hfflp.com

Jeffrey A. Hollinden, HFF Senior Managing Director, 713 852 3500, jhollinden@hfflp.com

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

HFF closes sale of two Austin, TX industrial properties

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Southpark 3 & 4, two industrial properties totaling 176,000 square feet in Austin, Texas.

HFF director Jud Clements (top right photo) and associate director Robby Rieke marketed the properties on behalf of the seller, an affiliate of the General Electric Pension Trust, advised by GE Asset Management.

AEW Capital Management, L.P. purchased Southpark 3 & 4 free and clear of debt for an undisclosed amount. AEW acquired the property on behalf of AEW Value Investors, II, L.P., a value-added real estate fund.

Southpark 3 & 4 are located at 4209 and 4129 South Industrial Drive near the intersection of State Highway 71 and Interstate 35 in Austin’s southeast industrial submarket.

Completed in 1995, the buildings are 89% leased to tenants including The Whitley Printing Co., BlueLinx Corporation, Crawford Electric Supply and Austin Tele-Services. An adjacent 4.2-acre development site was also included in the sale.

“Southpark 3 & 4 benefit from a strategic location, diversified tenant base, stable cash flow with upside and a development opportunity on the adjacent parcel,” said Clements.

With a 78-year heritage of investment experience and more than $156 billion in assets under management, GE Asset Management is one of the largest managers of institutional assets in the U.S. GE Asset Management is exclusive real estate advisor to the GE Pension Trust, a global asset manager.

Founded in 1981, AEW Capital Management, L.P. provides real estate investment management services to investors worldwide.

Currently (as of June 30, 2008), AEW and its affiliates manage over $50 billion of property and securities in North America, Europe and Asia.

On behalf of many of the world’s leading institutional and private investors, the firm actively manages portfolios in both the public and private property markets and across the risk/return spectrum.

CONTACTS:

Judson M. Clements, HFF Director, 214 265 0880, jclements@hfflp.com

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

Grubb & Ellis Predicts Continued Softening in Commercial Markets

SANTA ANA, CA--Bob Bach, (top right photo) senior vice president and chief economist at Grubb & Ellis Co. notes in his regular market update the labor market has deteriorated sharply in the past three months.

The October unemployment rate hit 6.5 percent, (middle left chart) the highest since February 1994, while employers have shed nearly 1.2 million payroll jobs this year, more than half of them coming in August, September and October.

Total job losses may approach the 2.7 million total recorded during and after the 2001 recession, while the unemployment rate could exceed 7.8 percent, the peak registered in June 1992 following the 1990-91 recession.

Expect commercial real estate leasing market fundamentals to soften through 2009.



Source: Bureau of Labor Statistics and Grubb & Ellis Co.



For more information or to speak with Bob Bach, please contact Janice McDill at 312.698.6707.

Concord Hospitality Breaks Ground on 17th Hotel in 2008

Company On Target to Double Portfolio to 100 Hotels Within Three Years

RALEIGH-DURHAM, N.C.—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, has broken ground on its 17th property of 2008, bringing to 15 the number of hotels the company currently has under construction.

The newest property is the 124-room Courtyard in Pittsburgh, PA, scheduled to open in fall 2009.

All of the hotels are premium brands affiliated with the world’s leading franchisors and are slated to open between now and year-end 2009.

Two of the properties, the SpringHill Suites by Marriott-Waukegan, Ill., (middle left photo) and the Fairfield Inn and Suites by Marriott Pittsburgh, Pa. (middle right photo), opened in August.

The remaining 15 under-construction hotels, aggregating more than 2,000 rooms and valued at nearly $350 million, put the company on pace to double the size of its portfolio to more than 100 owned and managed within the next three years.

“We did our first 50 hotels in 20 years; we hope to do our next 50 in three,” said Mark Laport, (top right photo) Concord Hospitality president and CEO.

“Our accelerated growth will be through a combination of new development, acquisitions/repositionings and third-party management contracts.

"Our development pipeline is the strongest it’s ever been, with 15 being the largest number of properties we’ve had under construction at one time. Even with a slowing economy and a troubled credit market, we have the ability to move projects forward.

"We have available equity to invest in new properties, in addition to the capital to develop, acquire and reposition/renovate hotels, and we have long-standing relationships with lenders who know us and know our capabilities.”

Laport noted that the 15 under-construction hotels will produce a portfolio with a wider geographical reach.

“In 2008, we have added or broken ground on properties in New York, Illinois, Maryland, Alabama and Texas and will break ground in North Carolina by the end of the year.

"We are gradually increasing our geographic diversification, developing in high-growth regions, like the southwest, in order to spread our business risk across a wider area and lessen our exposure to any one regional economy.

"As always, we are focusing on markets with solid demographics and high barriers to new supply. We continue to aggressively seek additional sites for hotel development, both domestically and overseas,” he said.

“With the continued globalization of the hotel industry, we see significant international growth opportunities, especially as U.S.-based brands like Marriott, Hilton, Starwood and Intercontinental Hotel Group seek to expand their presence there.”

The 15 hotels currently under construction in the Concord pipeline are:

Laport added that new development is just one leg of a multi-pronged growth strategy. With the recently announced signing of contracts with national real estate developer Jackson-Shaw, to manage two hotels in an under-construction, multi-use development in Dallas, Concord’s portfolio of hotels reached another important milestone.

Third-party management contracts now account for half of the company’s total portfolio of more than 50 hotels, compared to an 80/20 mix just a few years ago.

(Renaissance Raleigh hotel site, Raleigh, NC, bottom right map)

“Our existing owners have always been an important source of new management contract opportunities for us,” Laport said.

“Now we have taken a more proactive approach, looking for owners who have or wish to build quality assets and need high-level technical and pre-opening services to help in the development, opening and operating of hotels.”

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

Trump Entertainment Rating Cut To 'CCC' From 'B-'; Outlook Negative

NEW YORK, Nov. 11, 2008--Standard & Poor's Ratings Services today lowered its corporate credit and issue-level ratings on Atlantic City-based Trump Entertainment Resorts Holdings L.P. (TER). The corporate credit rating was lowered to 'CCC' from 'B-', and the rating outlook is negative.

"The ratings downgrade reflects our expectation that TER's ability to service its current capital structure over the intermediate term will be challenged despite the recent opening of the Chairman Tower at the Trump Taj Mahal (above centered photo) and the planned sale of the Trump Marina," said Standard & Poor's credit analyst Ben Bubeck. (middle left photo)

"While a portion of the proceeds from the planned sale of the Trump Marina, (bottom left photo) which is scheduled to close by May 28, 2009 (subject to up to a potential 60-day extension), could potentially remain on the balance sheet to support an expected shortfall in cash generation relative to debt service obligations, we believe that, absent a substantial rebound in the Atlantic City market, a restructuring of TER's debt obligations is likely."

The 'CCC' rating reflects TER's weak credit metrics, limited liquidity, and small portfolio of casino assets, which rely exclusively on cash generated in the highly competitive Atlantic City market.


(Developer Donald Trump, middle right photo)


During the 10 months ended Oct. 31, 2008, total casino win in the Atlantic City market and at TER's three properties was down 6.6% and 6.7%, respectively, versus the prior comparable period.

We expect that competitive pressures from neighboring states, compounded by challenging economic conditions and a substantial pullback in consumer discretionary spending, will continue to hurt the performance of the Atlantic City market in general, and will drive TER's credit metrics even weaker over the next several quarters.


As of Sept. 30, 2008, we estimate that, including the Trump Marina, total debt to EBITDA was more than 14x and EBITDA coverage of interest was approximately 0.9x.




Media Contact:
David Wargin, New York (1) 212.438.1579, david_wargin@standardandpoors.com

Analyst Contacts:
Ben Bubeck, CFA, New York (1) 212-438-2176
Melissa Long, New York (1) 212-438-3886

Shaw Mechanical nixes annual party to focus on corporate giving

ORLANDO, FL, Nov. 11, 2008 — Times what they are, Shaw Mechanical Services LLC has decided to forego its annual giving and thanks party for clients and staff this year to renew its sponsorship of the Destiny Foundation of Central Florida.

For 2009, Shaw Mechanical has committed to continue its three-point corporate giving program announced at last year’s bash that included a monetary donation, 80-hours of employee paid-volunteer-time and in-kind maintenance service for the Foundation’s 72-tons of HVAC equipment.

In 2008, Shaw Mechanical presented Destiny Foundation with a check for $5,000, provided $7,000 in servicing the Foundation’s 72-tons of HVAC equipment, and paid staff to volunteer at the Foundation’s warehouse and grocery store located on Michigan Avenue near downtown Orlando, Fla.

“During an economic downturn of this magnitude, it is much more important that we renew our support to the Destiny Foundation to help those in our own community that need assistance,” said Shaw Mechanical Services’ President, David L. Shaw. (middle right photo)

About Destiny Foundation
The Destiny Foundation, founded in 2001 by Pastor Scott George, (top left photo) was created to allow the working poor to invest sweat equity in the Foundation’s 35,000-square-foot grocery store in exchange for the ability to reduce their monthly food budget.

Please visit http://www.battlehunger.org/ for more information.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

Regency Centers Reports Increased Net Income of $54.5M

(Regency Centers Corp. executive team, seated, Bruce Johnson and Brian Smith. Standing, from left, Mark Harrigan, Jim Thompson, Martin "Hap" Stein Jr., Mary Lou Fiala, James Buis and John Delatour.)

JACKSONVILLE, FL.--(BUSINESS WIRE)--Regency Centers Corporation (NYSE:REG) has announced financial and operating results for the quarter and nine months ended September 30, 2008.

Funds From Operations (FFO) for the third quarter was $85.0 million, or $1.21 per diluted share, compared to $67.8 million and $0.97 per diluted share for the same period in 2007.

For the nine months ended September 30, 2008, FFO was $214.4 million or $3.05 per diluted share, compared to $212.7 million or $3.04 per diluted share for the same period last year.

Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental earnings measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry.

Net income for common stockholders for the quarter was $54.5 million, or $0.78 per diluted share, compared to $37.0 million and $0.53 per diluted share for the same period in 2007.

Net income for the nine months ended September 30, 2008, was $113.1 million or $1.61 per diluted share, compared to $133.4 million and $1.92 per diluted share for the third quarter of 2007.

(Martin E. "Hap" Stein Jr., chairman, middle right photo)

Portfolio Results

For the three months ended September 30, 2008, Regency's results for wholly-owned properties plus its pro-rata share of co-investment partnerships were as follows:

-- Same store net operating income (NOI) growth: 2.3% (2.0%
including 100% of co-investment partnerships)

-- Rental rate growth on a cash basis: 13.8% (13.3% including
100% of co-investment partnerships)

-- Leasing transactions: 441 new and renewal lease transactions
for a total of 1.5 million square feet

For the nine months ended September 30, 2008, Regency's results for wholly-owned properties and its pro-rata share of co-investment partnerships were as follows:

-- Percent leased, operating properties only: 94.3% on a pro-rata
basis (94.8% including 100% of co-investment partnerships)

-- Same store net operating income (NOI) growth: 2.5% (2.6%
including 100% of co-investment partnerships)

-- Same store rental rate growth on a cash basis: 11.6% (11.6%
including 100% of co-investment partnerships)

-- Leasing transactions: 1,331 new and renewal lease transactions
for a total of 4.5 million square feet

For a complete copy of the company's news release showing full performance details, please contact Lisa Palmer, IRInfo@regencycenters.com, 904-598-7636, http://www.regencycenters.com/

D & A Building Services hired to put a shine on Reliable Plaza

LONGWOOD, FL — D & A Building Services Inc. has completed the construction clean-up contract to get Reliable Plaza (top left photo) ready for its debut today in downtown Orlando, Fla.

Under contract with Skanska/JCB, the construction management joint venture for the new headquarters of Orlando Utilities Commission, D & A provided construction clean-up services, carpet cleaning, interior window cleaning and exterior high-rise window cleaning for the 10-story, 150,000-square-foot building.

Approximately, fifteen D & A cleaning technicians were involved in the execution of this contract.

D & A Building Services Inc. provides facility maintenance services to property managers, building owners, and local, state and Federal governments.

Founded in 1985, D & A performs full-service janitorial and specialized interior and exterior facility maintenance, landscape maintenance, pest control, waterproofing, construction clean-up and communications services.

Al Sarabasa, Jr. (middleright photo) is president, CEO and founder of the veteran-owned company, an Hispanic-Owned Business Enterprise. The Company has offices in Longwood, Fla., Jacksonville, Fla., Tampa, Fla., Kansas City, Mo., Madison, Wis., Plano, Texas, and Detroit, Mich.

For additional information, please visit http://www.dabuildingservices.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, http://www.pr-works.com/

Noble Investment Group Starts $9M Renovation and Addition at Kansas City Marriott Country Club Plaza

ATLANTA, Ga. – November 11, 2008 –Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today announced the launch of the $9 million comprehensive renovation of the Kansas City Marriott Country Club Plaza (top left photo) in Missouri.

Noble acquired the hotel in March of 2008 and has designed an overarching renewal of all guestrooms, meeting and event space, food and beverage outlets, as well as all public areas.

“The completion of these planned physical enhancements to the entire hotel will enable our dedicated team of hospitality professionals at the Kansas City Marriott Country Club Plaza the ability to provide their guests with a memorable luxury experience,” said Bob Morse, (middle right photo) Noble’s managing principal and chief operating officer.

The $9 million renovation will include the creation of the Marriott Great Room, an ideal spot for guests to engage in small work groups, gather in a casual dining experience or socialize and unwind in an inviting, comfortable, living-room atmosphere.
The Great Room concept was designed to provide intimate social zones, virtually enabling guests to tailor the use of the space to suite their own needs, much as they would do in their own homes.

CONTACTS:

Chris Daly, Vice President, Daly Gray Public Relations, 703 435 6293, chris@dalygray.com
Bonnie Herring, Noble Investment Group, 404-262-9660, bonnie.herring@nobleinvestment.com

GVA Advantis Retained by The Woodmont Co. to Exclusively Lease Plantation Plaza in Destin, FL

DESTIN, FL– GVA Advantis has been retained by The Woodmont Company to exclusively lease Plantation Plaza, (top right photo) a new 121,245-square foot class A community retail center in Destin, Okaloosa County, Florida.

The property will be exclusively represented by Managing Director Lucas Hewett (middle left photo) and Associate Director Jason Carnes.(bottom right photo)

“Plantation Plaza is Destin’s newest destination retail center,” says Hewett. “We will leverage off of the activity generated by the center’s anchors, Fresh Market and Marshalls, to complete the lease-up of this exciting assignment.”

Plantation Plaza is located within the prestigious Kelly Plantation resort community along Highway 98 / Emerald Coast Parkway in the heart of Destin. It is situated on Commons Drive, adjacent to and east of The Home Depot.

The Woodmont Company, a Fort Worth, Texas-based commercial real estate investment and brokerage firm, has been in business for 28 years, growing to a nationwide network of more than 70 professionals and dozens of partner companies.

Woodmont has developed, managed and brokered tens of millions of square feet, always focusing on a commitment to personal service and the client's perspective. With offices in Fort Worth and Dallas,

The Woodmont Company's services include site selection, development, brokerage, investment, and property management. For more information, visit www.woodmont.com.
CONTACT:

Lisa Pelec Hyde, Regional Director of Marketing, Advantis Real Estate Services Company,
3000 Bayport Drive, Suite 100, Tampa, Florida 33607. Tel 813.342.4752. Fax 813.342.4004.
E-mail Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

Smith Equities' $12.7M Addison Place Deal Proves Student Housing Still Hot

ORLANDO, FL, Nov. 10, 2008- – In spite of the turmoil in the capital markets, demand for well-located quality student housing continues to attract student housing developers to the University of Central Florida (UCF) market, according to Paul Guyet (top left photo) of Smith Equities Real Estate Investment Advisors.

Guyet and Mark Smith, (middle right photo) both of Smith Equities Real Estate Investment Advisors, brokered the sale of Addison Place Apartments, (top right photo) which is located on Alafaya Trail one half mile south of UCF.

The property consists of eight buildings containing 218 apartments – mostly one-bedroom units – and an office on a 10-acre site with approximately 740 feet fronting on Alafaya Trail. Addison Place Apartments sold for $12.7 million. The seller was Cedar Trust Services, Inc.

The new owner, which is part of Inland American Communities Group, Inc., plans to build a new student housing complex on the site that will open for the 2010 school year with 995 bedrooms in 416 units, a garage, pool and other amenities appealing to students. It also will be on the bus route that takes students to and from classes.

Guyet is the student housing specialist at Smith Equities Real Estate Investment Advisors, which specializes in the sale of apartments in Florida. He is in charge of the student housing department and has participated in the sale of more than $166 million of student housing in Orlando, Tallahassee and Gainesville.

Each year, Guyet prepares a report on the occupancy rates and rents in the UCF market (copy included with this release) that has become required reading for anyone interested in student housing in the area.

About Smith Equities:

Robert E. Smith (bottom left photo) and his brothers Mark and Gerald (bottom right photo) founded Smith Equities Real Estate Investment Advisors (SEREIA) in 1990. Smith Equities is a leader in apartment sales and financing throughout Florida with investment sales and financing of over 22,734 Apartments in 160 deals.

SEREIA sold some of the first condo conversions in Florida and is now focused on helping banks understand and dispose of nonperforming assets tied to condominium conversions.

For more information, please go to their website at http://www.amecs.com/

or call them at (407)422-0704.

CONTACTS:

Paul M. Guyet: 407-422-0704 Ext 105 or e-mail: pmg@amecs.com

Mark D. Smith: 407-422-0704, Ext. 102 or e-mail: msmith@amecs.com
Kimbra Hennessy, 407.290.1060, ext. 102, kimbra@bitner.com

NAR Recognizes Realtor(R) Michael Owen of Delray Beach, FL for Distinguished Service

ORLANDO, F., Nov. 10 /PRNewswire/ -- Michael Owen, (top right photo) a Realtor(R) from Delray Beach, Fla., has received the National Association of Realtors(R) 2008 Distinguished Service Award.

Out of 1.2 million Realtors(R), no more than two are recognized with this award each year, which is announced during NAR's annual REALTORS(R) Conference & Expo.

NAR established the DSA in 1979 to honor Realtors(R) who have made outstanding contributions to the real estate industry and are recognized as leaders in their local communities.

The award is considered the highest honor an NAR member can receive; recipients must be active at the local, state and national association levels, but must not have served as NAR president.

NAR President Richard F. Gaylord (top left photo) presented the award to Owen.

"Realtor(R) Michael Owen exemplifies community participation and leadership, both professionally and personally," said Gaylord, a broker with RE/MAX Real Estate Specialists, Long Beach, Calif.

"Owen's involvement at the national, state, and local levels of the association, as well as his contributions to neighborhoods both close to home and across the globe, demonstrates Realtors(R)' commitment to building communities."

Owen became a Realtor(R) nearly 30 years ago, in 1979. He is currently with Coldwell-Banker in Boca Raton, Fla., and practices both residential and commercial real estate.

"I am honored to accept the Distinguished Service Award," said Owen. "Receiving the award here in my home state of Florida, as we host NAR's national conference, only enhances its significance.

"I'm fortunate to have worked with so many committed professionals across the country throughout my career as we further our common goals of encouraging homeownership and real estate investment and supporting our communities."

Owen is currently a member of NAR's Board of Directors and has served on the Board nearly every year since 1989. He is the 2009 chair for NAR's Resort and Second Homes Committee.

Owen was the NAR Regional Vice President for Region 5 in 1994. Owen has earned numerous designations and certifications, including Accredited Buyer Representative(R), Certified International Property Specialist, Certified Residential Specialist(R), e-Pro(R), and Graduate Realtor(R) Institute.

CONTACT:

Stephanie Singer of the National Association of Realtors,+1-202-383-1050, ssinger@realtors.org