Marcus & Millichap Hires Two Investment Specialists in NY and NJ

Patrick Bisceglia and Jeffrey Oram Leave CB Richard Ellis for Marcus & Millichap

NEW YORK, NY-- Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired two leading investment specialists in Manhattan and New Jersey, according to Bernard J. Haddigan, (middle right photo) group managing director of the firm’s Manhattan and New Jersey offices.

The agents are Patrick J. Bisceglia (top right photo) and Jeffrey J. Oram. (top left photo) Bisceglia joins the Manhattan office as an associate vice president investments, while Oram comes to the New Jersey office as a senior associate.

Bisceglia will arrange the sale of investment properties in the Tri-State Area, with a focus on multi-family and office properties in his new position, according to Edward Jordan, (bottom left photo) regional manager of the Marcus & Millichap’s Manhattan office.

A 20-year industry veteran, Bisceglia most recently served as a first vice president at CB Richard Ellis in Stamford, Conn. Bisceglia has been involved in more than $4.5 billion in investment real estate transactions.

He was also an investment sales broker at Rockwood Realty Associates LLC for more than six years and was responsible for the execution of investment sales and advisory assignments on behalf of institutional clients on a national basis.

Bisceglia received his bachelor’s degree in economics from St. Lawrence University and his master’s degree in real estate development and investment from New York University.

“We are pleased to welcome Bisceglia to the firm,” says Jordan. “His superb skills as an investment broker, knowledge of the local institutional market and dedication to providing his clients with the finest advisory services will further enhance our ability to serve the New York City Metro Area’s real estate investment community.”

In the New Jersey office, Oram joins Marcus & Millichap as a senior associate under the leadership of regional manager Michael J. Fasano. As such, Oram will arrange the sale of all property types, with a focus on office and industrial assets in suburban New Jersey, New York City and throughout the country. He is also a director of the firm’s National Office and Industrial Properties Group (NOIPG).

Most recently, Oram served as a first vice president of CB Richard Ellis’ New York Institutional Group based in Saddle Brook, N.J. Throughout his career, Oram has arranged the sale of more than $1 billion in investment properties, including office, multi-family, retail and industrial assets, primarily in suburban New Jersey.

“Jeff is one of the Tri-State Area’s leading investment sales brokers, who provides superior brokerage and advisory services to some of the region’s most prominent institutional clients,” explains Fasano.

“Jeff joined Marcus & Millichap to gain greater access to a pool of private investor clients nationwide. He was also attracted to the firm’s entrepreneurial spirit, which provides its investment specialists with the most comprehensive marketing platform in the industry.”

Oram earned his bachelor’s degree from Princeton University.

Press Contact: Stacey CorsoCommunications Department(925) 953-1716

Liberty Property Trust Honors 17 Professionals

JACKSONVILLE, FL - Liberty Property Trust (NYSE:LRY), the real estate investment trust that owns and manages nearly 2.5 million square feet of office and industrial properties in Jacksonville, honored 17 of the region’s top commercial real estate brokers at its 13th Annual ‘Tribute to Excellence’ Broker Dinner, March 19 in Jacksonville.

“Liberty has enjoyed the commercial brokerage community’s support during our 35 years in Jacksonville and it has been very satisfying to watch this event thrive over the past thirteen years,” said Mike Heise, (top right photo) vice president and city manager, Liberty Property Trust.

Heise and Dan Santinga, senior leasing representative at Liberty, hosted this year’s event at Ruth’s Chris Steakhouse in Jacksonville. Each broker received an award honoring them as one of the “Platinum 17” brokers who brought new deals to Liberty in 2008.

Professionals attending from the broker community (alphabetical order by firm) include:

Jeffrey Nelson (CB Richard Ellis); Peter Ramsey (CB Richard Ellis); Ryan Landers (Colliers Dickinson); John Saoud (Colliers Dickinson); Mark Scott (Cushman & Wakefield of Florida, Inc.);
Ed Washington (Gate Corporation); Sid Jones (Guardian Commercial Realty, Inc.);

Dan Stover (Grubb & Ellis/Phoenix Realty Group); Mark Stratman (Jones Lang LaSalle Americas, Inc.); Scott Pamplin (Jones Lang LaSalle Americas, Inc.);

Joe Russell (King Industrial Realty/CORFAC International); Monte Merritt (Merritt & Company); Scot Harrison (NAI Commercial Jacksonville); and Tad McDonough (USI Real Estate Brokerage Services, Inc.).

Contact: Margo Hunt Winans, a.s.a.p.r. public relations & marketing, 757/404-8653. margo@asapr.com

Marcus & Millichap Arranges $69.5M in Metro Chicago Transactions

Sales continue to close despite softening market conditions

CHICAGO, IL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, announced that its Chicago regional offices recently closed $69.5 million in major commercial real estate transactions, even as sales velocity continues to slow nationwide, according to John Kerin, (top right photo) group managing director of the firm’s Chicago regional offices.

“Despite widespread softening of national economic fundamentals and easing sales velocity, Marcus & Millichap continues to execute transactions in the Chicago MSA.” says Gregory LaBerge, (top left photo) regional manager of Marcus & Millichap’s Chicago office.

“These transactions demonstrate our unique ability to add value for Midwestern and national investors under any market conditions.”

In what has been one of the largest sales of a vintage apartment building in Chicago in the past 12 months, Eric Bell, senior vice president investments and senior director of the firm’s National Multi Housing Group in Chicago, negotiated the sale of 1337 West Fargo.

The 86-unit, 12-story apartment building sold for $8.05 million, representing an approximate price per square foot of $115.

The firm also sold 3 Oxford Road, a 326,868-square foot affordable housing apartment community in Carpentersville, Ill. The property’s sales price of $23.05 million represented $71 per square foot.

Scott Harris, senior vice president investments, and Kyle Shoemaker, a multi-family investment specialist, both in Marcus & Millichap’s Oak Brook office, represented the seller.

Also representing the seller were Paul Davis, first vice president investments, and Andrew Daitch, (middle right photo)vice president investments, both located in the firm’s Detroit office. Marcus & Millichap also represented the buyer.

Another significant sale was 1146 Yew Court, a 271,810-square foot apartment complex in Elgin, Ill. The $16.1 million sales price represented $59 per square foot. Harris arranged the sale on behalf of the seller.

The buyer was represented by Harris and L. Matthew Hare, a senior associate in Marcus & Millichap’s Indianapolis office. The city of Elgin and Cook County assisted in the transaction by providing a portion of the financing for the property.

Marcus & Millichap also arranged the sales of 1601 North Lincoln Ave. and 1321 Lincoln Ave. in Urbana, Ill. Peter Katz, (bottom left photo) senior vice president investments and senior director of the firm’s National Multi Housing Group in Phoenix, negotiated the sale, in conjunction with the firm’s Chicago office.

By providing investors with real-time market information and unparalleled access to a nationwide pool of investment capital, Marcus & Millichap will continue to arrange transactions on behalf of private and institutional investors through every market cycle.

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

Marcus & Millichap Sells $15M FedEx Distribution Center in Rhode Island

JOHNSTON, R.I. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 144,187-square foot distribution center leased to FedEx in Johnston.

The sales price of $15 million represents $104 per square foot.

Glen Kunofsky, (top left photo) senior vice president investments and a senior director of the firm’s Net Leased Properties Group in Manhattan, and Judson Kauffman, (bottom right photo) a net-leased properties specialist also in Manhattan, represented both the buyer and seller.

Steve Witten, (bottom left photo) a first vice president investments at Marcus & Millichap, assisted in this transaction locally.

“This transaction shows that quality assets with quality tenants are still demanding premium pricing in this market,” says Kunofsky.

“The buyer was extremely happy with the property, the overall return and the financing terms,” adds Kauffman.

The property is located at the Lakeside Commerce Center, which is directly off Interstate 295 and seven miles from the airport in central Rhode Island. Built-to-suit in 2008 for FedEx Ground, the 22-plus acre site was developed with room for a 27,720-square foot expansion.

The distribution center’s initial double-net lease commenced June 1, 2008 and has a 10-year term that expires in May 2018. FedEx has the option to extend the lease with two five-year renewal options.

The closing cap rate was 7.5 percent.

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

Marcus & Millichap Sells $13.7M Medical Office Building in San Antonio, TX

SAN ANTONIO, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 57,211-square foot medical center in San Antonio.

The sales price of $13.7 million represents $239 per square foot.

Alex Zylberglait, (middle left photo) an associate vice president investments and associate director of Marcus & Millichap’s National Office and Industrial Properties Group, and Ryan Shaw, an office investments specialist, both in the firm’s Miami office, represented the seller, a locally based medical group, and the buyer, a New York based group.

The Dallas office of Marcus & Millichap provided local representation on this transaction.

“The newly constructed Stoneterra Medical Plaza (top right photo) is situated in an area of San Antonio that has several medical office buildings and is in high demand by local, regional and national investors,” states Zylberglait. “The property has a 100-percent occupancy rate with the majority of the leases in place until 2017. All the tenants have options to renew their triple-net leases.”

“Stoneterra Medical Plaza just received the Medical Office Building of the Year award by the Building Owners and Managers Association (BOMA) for the San Antonio market, and will be competing for regional recognition in Houston.

“This was an excellent opportunity for our buyer to acquire a newly constructed medical office building and benefit from the ease of management,” adds Zylberglait. “We received very strong nationwide interest from all types of investors for this asset.”

Located at 150 E. Stoneterra Blvd., the property is situated near Stone Oak Parkway near North Central Baptist Hospital, Baptist Regional Children’s Center, Methodist Ambulatory Surgery Center, Laurel Ridge Treatment Center, North Central Urgent Care and the Spine Hospital of South Texas.

Stoneterra Medical Plaza is a three-story concrete block building that was developed in 2006.

The building’s major tenant, San Antonio Orthopaedic Group, was established in 1947 for the purpose of providing the highest quality of orthopedic, medical and surgical care to the San Antonio community.

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

National Economic Slowdown Fuels Alternative Finance Solutions Demand

AIC Ventures Acquires $37 Million in Real Estate Assets and Prepares for More Nationwide

AUSTIN, Texas--(BUSINESS WIRE)--Austin, Texas-based AIC Ventures, L.P., an investment fund manager providing alternative finance solutions to middle-market companies nationwide, has completed three commercial real estate sale-leaseback transactions, representing 1.3 million square feet of commercial real estate and totaling $37.2 million in value.

“We’re seeing an increase in demand for sale-leasebacks as a strategic capital solution for middle-market companies,” said David Steinwedell, (top right photo) managing partner, AIC Ventures. “This year we’re investing $350 million and actively pursuing the acquisition of real estate assets nationwide.”

In recent weeks, AIC Ventures has acquired real estate assets, and entered into long-term, triple net leases, with three companies in different regions of the country:

Hollywood, Florida-based St. Ives, a print and design firm; Charlotte, North Carolina-based Otto Industries, a leader in the solid waste container industry; and Chicago-based The Great Escape, an indoor/outdoor recreational and leisure product retailer.

In 2008, AIC Ventures nearly doubled its transactions to $250 million with its seventh fund. In each transaction, the company acquired the facility and property according to the original terms outlined.

The capital infusion is used by companies to strengthen their corporate balance sheet fundamentals, fund growth initiatives or acquisitions and/or support other strategic investments. With fewer restrictions and requirements in comparison to more traditional financing options, sale-leasebacks offer sellers flexible capital that can be redeployed at the company’s discretion.

“With the credit markets still tight, our sale-leaseback solutions offer companies a strategic resource to further their growth and pursue market opportunities,” said Peter Carlsen, (top left photo) managing partner and president, AIC Ventures.

Founded in 1990, AIC Ventures has acquired and entered into long-term leases with over 100 commercial real estate assets owned by middle-market companies. The firm’s total transaction value is nearly $900 million.

AIC Ventures is a leading provider of capital to middle-market companies. With nearly $900 million in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies facing limited, short-term or expensive alternatives for capital.

The company has closed more than 100 transactions in 28 states. Whether sellers need to close quickly, have private equity interests, environmental or other challenges, AIC Ventures can help.

For more information, visit http://www.aicventures.com/.

Contact: Melissa Anthony, 512-329-2766 Melissa@anthonyBarnum.com

Starwood Hotels & Resorts to Relocate Its Luxury and Design-Led Brands to New Headquarters in SoHo

Hotel Giant to Create Design, Branding and Retail Think Tank
Merging with the Bliss and Remède Spa Headquarters

NEW YORK, NY, Mar. 25, 2009--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced plans to relocate its Manhattan-based luxury and design-led brands from Chelsea to a new headquarters space downtown on Varick Street, where SoHo (top right photo) and Tribeca meet.

Global marketing, brand management and design teams for W Hotels, Le Méridien, St. Regis and The Luxury Collection will join Starwood’s Bliss and Remède Spa teams in a redesigned space meant to inspire creativity and innovation and serve as a design, branding and retail think tank.

“This move is illustrative of Starwood’s commitment to design, innovation and brand building,” said Phil McAveety, Chief Brand Officer, Starwood Hotels & Resorts.

“As we continue to attract and inspire the best and the brightest creative talent, we look forward to being part of a vibrant community that appreciates, cultivates and inspires our brands’ passion points including fashion, entertainment, art and design.”

VM Design Studio, a New York-based collective of renowned architects and designers, will lead the renovation of Bliss and Remède Spa’s existing 20,000 square foot office space located at 75 Varick Street.

When the redesign is completed in September, 2009, Starwood will unveil a modern office space for 150 associates, which will also serve as showcase space to immerse owners, developers, designers and creative agencies in Starwood’s signature luxury and lifestyle brands, which continue to meaningfully grow around the world.

VM Design Studio’s design portfolio includes work on the world headquarters of Pixar Animation Studios in California and the West Elm corporate headquarters in New York, in addition to several St. Regis properties, including four new St. Regis hotels currently under construction in Hawaii, The Bahamas, Puerto Rico and Deer Valley, Utah.

“In addition to establishing a creative hub, we are excited to merge space with our Bliss and Remède Spa brands which work closely with our brands to develop signature spas and bath amenities in our hotels around the globe,” said McAveety.

“We are, of course, sensitive to the current economic environment. By consolidating the two offices we will drive efficiencies which will offset the investment needed to create this new brand and design space.”

While the space is under construction, the design, marketing and brand management teams for these brands will temporarily move from their current space in West Chelsea’s Starrett-Lehigh Building to Starwood’s global corporate headquarters in White Plains, NY.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 940 properties in approximately 97 countries and 145,000 employees at its owned and managed properties.

Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched Aloft®, and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts.

Contact:
K.C. Kavanagh, Starwood Hotels & Resorts Worldwide, 914-640-8339
http://www.starwood.com/

Interstate Hotels & Resorts’ CEO Thomas F. Hewitt Named Chairman

ARLINGTON, VA—Interstate Hotels & Resorts (OTC: IHRI), a leading hotel real estate investor and the nation’s largest independent management company, today announced that Thomas F. Hewitt, (top right photo) chief executive officer, has been named chairman of the board.

He will succeed Paul W. Whetsell, (bottom left photo) who will step down as chairman and as a member of the board of directors, effective March 31.

“This transition is part of our regular succession planning that we’ve been working on for some time,” Whetsell said. “Tom has a long and distinguished career with Interstate and is the natural choice to continue to lead the company as chairman and chief executive officer. As CEO, he has compiled an impressive record over the past four years as we have grown and diversified the company.”

“As a founder of CapStar Hotel Company, one of our predecessor companies, Paul’s vision and entrepreneurial spirit were instrumental in the formation and growth of our company,” Hewitt noted. “He remains a strong supporter and significant shareholder of Interstate.”

Interstate Hotels & Resorts has ownership interests in 57 hotels and resorts, including seven wholly owned assets.

Together with these properties, the company and its affiliates manage a total of 225 hospitality properties with more than 46,000 rooms in 37 states, the District of Columbia, Russia, Mexico, Belgium, Canada and Ireland.

Interstate Hotels & Resorts also has contracts to manage 16 to be built hospitality properties with approximately 4,000 rooms.

For more information about Interstate Hotels & Resorts, visit the company’s Web site: http://www.ihrco.com/.

Contact: Bruce Riggins, Chief Financial Officer, (703) 387-3344

Marcus & Millichap Sells Goodnoe's Corner Development in Newtown, PA for $14.87M

NEWTON, PA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Goodnoe’s Corner, (top right photo) a Class A, 35,653-square foot retail and apartment development in Newtown.

The selling price of $14.87 million represents $417 per square foot.

Jeffrey W. Marquis Sr., Thomas Gorman, and Matthew Gorman in Marcus & Millichap’s Philadelphia office represented the seller, a local developer, and also represented the Philadelphia-based buyer.

“We have worked closely with the developer of Goodnoe’s Corner for more than two years,” says Marquis. “Marcus & Millichap became involved during the center’s development and we remained integral right up to the ultimate closing.

"The timeline of this development project and the marketing of the asset forced us to work through an extremely challenging retail market.

"Construction delays caused challenges as the market continued to deteriorate, but we ultimately negotiated a price per square foot well above the market average in this region.”

Located at 290 North Sycamore St., the two-story Goodnoe’s Corner development consists of six well-positioned buildings at the signaled intersection of Highway 532 and Highway 332.

On-site parking is complemented by off-street parking and new bricked walkways, which encourage foot traffic and to drive-in customers.

The main tenants include Rite Aid, Firstrust Bank and the Green Parrot Inn, an Irish pub. The remaining seven inline retail tenants are a mix of national, regional and local retailers. Four luxury apartments are located on the second floor.

Goodnoe’s Corner is situated in the heart of Newtown in a densely populated area with more than 104,000 people within a five-mile radius. The median household income in the area exceeds $102,000.

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

StarPoint Commercial Properties Purchases The Tower in Downtown Fort Worth’s Sundance Square

The High-Profile Retail and Office Tower is Part of a 37-Story, Mixed Use Development

FORT WORTH, TX-(BUSINESS WIRE)--In proving that there’s equity available for good deals despite a tough economic market, Beverly Hills, Calif.-based StarPoint Commercial Properties, a leading real estate company that specializes in the acquisition, redevelopment and repositioning of commercial properties, has purchased The Tower Complex, (top right photo) located at 500 Throckmorton Street in Downtown Fort Worth, Texas.

Terms of the transaction were not disclosed.

The 182,000-square-foot famed mixed-use retail and office development, which also includes 253 parking spaces, is part of the Sundance Square, (middle left photo) Fort Worth's premier entertainment and cultural center located in the center of downtown.

“We are proud to be the owners of such a successful project in one of the tightest commercial submarkets in the country,” said Evan Farahnik, principal of StarPoint Commercial Properties.

“We were able to acquire a prominent well-performing asset with the potential for significant upside through the creation of additional rentable square feet, and capitalizing on immediate operational efficiencies.”

Indeed, the prominence of the property is spelled out in the submarket occupancy which stands at 98% for retail and 95% for office. In addition, the condominium towers’ residential units are 98% sold out.

The Tower Complex consists of two buildings, The Tower and The Annex, and totals 182,000 current leasable square feet combined for office and retail.

StarPoint Commercial Properties LLC represented itself in the transaction. The seller, TLC Green Property Associates of Chicago was represented by Tom Salanty, executive director in the Dallas office of Cushman & Wakefield of Texas, Inc.

About StarPoint Commercial Properties

StarPoint Commercial Properties – a real estate company based in Beverly Hills, Calif. with an office in Dallas, specializes in the acquisition, redevelopment and repositioning of commercial properties located within high barrier to entry, infill and high population growth markets throughout the nation.

The firm, which has properties in 10 states, has been involved in the commercial real estate market since 1995, has closed transactions close to a billion dollars of real estate and currently operates a portfolio in excess of 5 million square feet of rentable space.

Contacts:

The Hoyt Organization, Erik Hamilton, ehamilton@hoytorg.com,

Leeza Hoyt, llhoyt@hoytorg.com, 310-373-0103

NAI Realvest Founder, Chairman George Livingston Honored for Lifetime Achievement in Central Florida Commercial Real Estate

MAITLAND, FL --- NAI Realvest founder and chairman George Livingston (top right photo) was honored with the Wilbur Strickland Award for Lifetime Achievement during the 14th annual Central Florida Commercial Association of Realtors (CFCAR) Hallmark Awards ceremony in Orlando recently.

This award, presented by Debra Lupton, AIA, chief executive officer of TLC Engineering for Architecture, recognizes an individual considered to be a founding father of commercial real estate who exemplifies outstanding dedication to the profession.

Livingston launched NAI Realvest in 1988. The former career Special Forces officer and counter-terrorism expert negotiated commercial property

transactions valued at more than a quarter billion dollars.

Livingston authored the first U.S. Department of Defense pamphlet on protection against terrorism strategies following three tours of duty in Vietnam.

CFCAR recognized ten other NAI Realvest brokers at the Hallmark Awards for outstanding performance in 2008.

NAI Realvest senior vice president and principal Michael Heidrich (top left photo) placed third among the top five industrial brokers for 2008.

Livingston, NAI Realvest principals Christie Alexander (middle right photo) and Robert Blackwell, (middle left photo, below Heidrich photo) SIOR were named among the top 10 producers for industrial properties in 2008.

Broker Mez Birdie, CCIM, CPM, SCSM, ranked among the top 10 retail producers and brokers Matt Cichocki, (middle right photo, above Partyka photo)) Kevin O’Connor (bottom left photo) and associate Drew Saphos were named among the top 10 land producers, NAI Realvest president Patrick Mahoney (bottom left photo, above O'Connor photo) said.

NAI Realvest managing partner and former Winter Springs Mayor Paul P. Partyka, (middle right photo, above Tom Kelley photo) ) principal Tom Kelley (bottom right photo) CCIM, and senior associate Mary Frances West, CCIM each received the Circle of Achievement Award.

CFCAR’s Hallmark Awards recognizes outstanding commercial real estate brokers in retail, office, land, and industrial transactions in a nine-county Central Florida region that includes Orange, Osceola, Seminole, Brevard, Volusia, Flagler, Sumter, Marion and Lake Counties.

CONTACTS:

Paul P. Partyka, Managing Partner NAI Realvest, 407-875-9989, glivingston@realvest.com;
Patrick Mahoney, Partner, President, & COO, NAI Realvest 407-875-9989 pmahoney@realvest.com
Janice Paiano, Director of Marketing, NAI Realvest 407-875-9989, jpaiano@realvest.com
Larry Vershel, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com.

$100.5M financing secured by HFF for 1101 K Street NW in Washington, D.C.

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $100.5 million in financing for 1101 K Street NW, (top left photo) a 310,825-square-foot, Class A office property in Washington, D.C.

HFF senior managing directors Bob Donhauser (top right photo) and Bill Asbill (middle left photo) and director Cary Abod (bottom right photo) worked exclusively on behalf of the borrower, a joint venture between The JBG Companies and Rockwood Capital, LLC in arranging the three-year, adjustable-rate loan through Helaba (Landesbank Hessen-Thuringen Girozentrale).

The 65% loan-to-cost financing is replacing a construction loan through Bank of America and will provide funds until the asset is stabilized.

Completed in 2007, 1101 K Street NW is leased to tenants including FTI Consulting, Brunswick Capital, District of Columbia Bar Association, Information Technology Industry Council and Brasserie Back.

The property has 28,000-square-foot floor plates that feature 16 corner offices per floor and floor-to-ceiling windows with views of the New City Center, Washington Monument and Capital Dome.

Building amenities include a rooftop deck, high-end fitness center with locker rooms and a first-floor restaurant.

The property is located in Washington, D.C.’s east end submarket on the corners of K, 11th and 12th Streets with easy access to four metro stations as well as the Verizon Center, Gallery Place neighborhood and the New City Center, due for completion in 2011.

Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, investor, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development.

Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area.

More information can be found by visiting the company’s Web site: http://www.jbg.com/.

Rockwood Capital, LLC is a real estate investment company, which provides equity capital for repositioning, recapitalization, development and redevelopment of commercial property types, including retail, hotel, residential, office and research and development space in key markets throughout the United States.

Contacts:

Robert F. Donhauser, Senior Managing Director, (202) 533-2500, rdonhauser@hfflp.com

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