Clear Capital Appoints Mike Ousley to Lead Appraisal Team

TRUCKEE, CA– Dec. 22, 2009 – Clear Capital (www.clearcapital.com), a premium provider of data and solutions for real estate asset valuation, investment and risk assessment, today announced the appointment of Mike Ousley (top right photo)  as the company’s Executive Vice President, Appraisal Group, reporting to Duane Andrews,  (bottom left photo) Clear Capital CEO, and Kevin Marshall, Clear Capital President.

Working from company headquarters in Truckee, Calif., Ousley will oversee the direction and continued growth of Clear Capital’s Appraisal team responsible for providing reliable Appraisal-based and Value Reconciliation products nationwide to mortgage and lending industry customers.

 The Appraisal Group includes an internal team of 28 staff appraisers, quality assurance and customer service professionals; and an independent network of 10,000 licensed contract appraisers.

“Mike’s reputation throughout the industry fits who he really is: honest, innovative, hard working and most impressively, he puts the interests of others first,” said Andrews. “We're excited Mike has joined Clear Capital. He has built a successful career by finding ways to integrate technology to achieve efficiencies that benefit everyone in the loan transaction process.”

Ousley’s professional background spans more than 30 years of real estate collateral assessment and mortgage banking. Prior to joining Clear Capital, he founded Foster Ousley Conley in 1989 and Appraisal Enhancement Services (AES) in 1994.

In 2003, AES was acquired by a Fortune 500 company. He left Foster Ousley Conley after helping grow the company from two to more than 400 employees. Prior to Foster Ousley Conley, he served as Vice President at California Federal Savings Bank.

Contact: Heather Pond, 415.402.0230, http://www.atomicpr.com/

NAI Realvest Negotiates $920,000 Sale of the former Whistle Junction Restaurant in South Daytona

SOUTH DAYTONA -- NAI Realvest recently negotiated a $920,000 sale price for the 10,500 square foot former Whistle Junction restaurant building at 1854 S. Ridgewood Rd. in South Daytona.

Paul P. Partyka, (top left  photo)  principal and managing partner at NAI Realvest with partners, Matt Cichocki (bottom right photo)  and Kevin O’Connor (bottom left  photo) , based in Maitland, negotiated the transaction representing the seller Sovereign Investment Company of Palo Alto, Calif.

The property was purchased by Titusville-based SBI Leasing, Inc.

Partyka said this is the fifth former Whistle Junction restaurant sale handled by NAI Realvest this year, including locations in Melbourne, Jacksonville, St. Cloud and Titusville.

For more information, please contact:

Paul P. Partyka, Managing Partner/Principal NAI Realvest, 407-875-9989, ppartyka@realvest.com

 Patrick Mahoney, Principal/Chief Operating Officer, 407-875-9989
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

CB Richard Ellis Announces Grand Opening of Metro 24/7 Fitness in Oak Groves Shoppes Center, Altamonte Springs, FL

ORLANDO, FL – Dec. 22, 2009 – The Orlando office of CB Richard Ellis (CBRE), the world's leading commercial real estate services provider, is pleased to have Jorge Rodriguez, CCIM, Senior Associate in Retail Properties, announce the opening of Metro 24/7 Fitness on December 17, 2009.

 The 17,249 SF fitness center is located at 995 West State Road 434 in Altamonte Springs, Florida.

The new facility includes a smoothie bar, tanning salon, sauna, and massage services. Classes have already begun. Jorge Rodriguez with CB Richard Ellis represented the landlord, Kitson & Partners. Jeff Tanner and Kim Brackett Manson with Coldwell Banker Commercial NRT represented the tenant.

Contact: Angelique Greven, 407.839.3158, angelique.greven@cbre.com

Arbor Closes $13,987,000 Fannie Mae DUS ® Loan for Angelo’s Grove Apartments in Marion, AR

Uniondale, NY (Dec.  22, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $13,987,000 loan under the Fannie Mae DUS® Loan product line for the 256-unit complex known as Angelo’s Grove Apartments (top left photo)  in Marion, AR.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.

The loan was originated by John Edwards, (bottom right photo) Vice President, in Arbor’s full-service Boston, MA lending office. “In collaboration with Financial Federal of Memphis, TN, we were pleased with the opportunity to provide our client a refinance opportunity in this low-interest-rate environment,” said Edwards.

Press Contact:  Stacey Corso, Marcus & Millichap, (925) 953-1716

Marcus & Millichap Sells 160-Unit Apartment Complex in Philadelphia

PHILADELPHIA, Dec. 21, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Beechwood Gardens, (top left photo)  a 160-unit, 140,000-square foot apartment complex in Philadelphia.

The sales price of approximately $10.5 million represents approximately $65,000 per unit and $75 per square foot.

Ridge MacLaren, (top right photo) a vice president investments and senior director of the firm’s National Multi Housing Group, along with multifamily investment specialists Clarke Talone (middle left photo) and Andrew Townsend, (bottom right photo)  in Marcus & Millichap’s Philadelphia office, represented the seller, Home Properties. The buyer was a New York-based LLC.

“In this supply constrained, far northeast Philadelphia location, rental demand will remain strong for years to come,” states MacLaren. “Home Properties managed the property well, which makes this a turn-key investment for the buyer. Combined with the attractive financing terms available, this is an excellent acquisition.”

The property is located at 9805 Haldeman Ave. in Philadelphia, with easy access to U.S. Route 1 and Interstate 95. Southeastern Pennsylvania Transportation Authority regional rail lines provide convenient transportation to Center City.

Built in 1967 on 5.7 acres, Beechwood Gardens contains 80 one-bedroom and 80 two-bedroom apartments. More than two-thirds of the units have been renovated by the seller. Marcus & Millichap’s marketing efforts produced nearly 30 property tours and 20 written offers.

“This transaction indicates that buyers are anxious to take advantage of the excellent agency debt available,” adds MacLaren. “Well-priced real estate in solid infill locations will continue to generate significant buyer interest in this market.”

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

Marcus & Millichap Names Michael Hoffman Regional Manager of Denver and Fort Collins Offices

DENVER,  CO, Dec., 21, 2009– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Michael Hoffman (top right photo)  regional manager of the firm’s Denver and Fort Collins offices, according to Harvey E. Green, (bottom left photo)  president and chief executive officer. Hoffman is also a first vice president of the firm.

“Michael has been regional manager of the Houston office and has managed the Austin and San Antonio offices. He will now manage the Denver and Fort Collins offices,” says Green.

 “His extensive management experience and highly successful track record as an investment specialist make him an invaluable resource to our clients and agents in Colorado and throughout the western region of the United States.”

Hoffman began his career with the firm’s Newport Beach office in 1992 as an associate focusing on the multifamily market. As an agent, he received numerous distinctions for sales achievements. In 2001, Hoffman was named sales manager in the Ontario office, where he managed and trained the office’s sales force.

 He was promoted to vice president in April 2004 and first vice president in April 2008. Hoffman has extensive knowledge of the Texas markets, having served as regional manager of the Austin, San Antonio and Houston offices. Most recently, he was the regional manager of the Houston office.

Hoffman received his bachelor’s degree in real estate finance from the University of Arkansas.

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

Four Palace Resorts in Mexico Join Wyndham Hotels and Resorts

PARSIPPANY, N.J. (Dec. 21, 2009) – Wyndham Hotels and Resorts and Palace Resorts today announced that four upscale Palace Resorts properties in Mexico will join the Wyndham® brand: Beach Palace®, Cancun (top right photo); Isla Mujeres Palace® (top left photo), Isla Mujeres; and Playacar Palace® (bottom right photo) and Xpu-Ha Palace® (bottom left photo) , both in Riviera Maya.

Xpu-Ha Palace will be rebranded as a Wyndham Resort while Beach Palace, Isla Mujeres Palace and Playacar Palace will gain the Wyndham Grand Resort designation. All will continue to be owned and operated by Palace Resorts.

Jeff Wagoner, (bottom left photo) Wyndham Hotels and Resorts president, said the franchise agreements will expand Wyndham brand distribution in Latin America, creating a total presence of 26 Wyndham properties in Mexico and the Caribbean.

“The marriage of our global brand and distribution system with the outstanding Palace Resorts brand and these four all-inclusive properties in Mexico will be mutually beneficial for both companies and our guests,” he said. “We take pride in welcoming these resorts, known for their exceptional service and luxurious all-inclusive amenities, to the Wyndham family.”

Roberto Chapur, Palace Resorts president, said the affiliation with the Wyndham brand will provide a global distribution platform to drive bookings in the growing leisure, bridal and meeting travel segments.

“For the last 25 years, Palace Resorts has been redefining all-inclusive resort vacations by offering continually refreshed five-star service and amenities that exceed the traditional definition of all-inclusive,” he said.

“By affiliating these four Palace Resorts properties with the Wyndham brand, we will gain exposure to a significant new audience of potential clients through the Wyndham system’s multiple distribution channels.”

The four oceanfront hotels offer luxury accommodations with fine furnishings, signature in-room double Jacuzzi® whirlpool baths, Biosilk bath amenities, bathrobes and slippers, satellite television, minibars with liquor dispensers and unlimited beverages, premium coffeemakers and turndown service.

Each Palace Resorts property features unlimited fine dining and top-shelf beverages at a wide variety of international a la carte or buffet restaurants, 24-hour room service, nonmotorized water sports, live nightly entertainment shows, wireless Internet service throughout the resort, unlimited telephone calls to the United States, Canada and Mexico and unlimited tours to selected local cultural sites.

 Guests also have access to the facilities and amenities at all other Palace Resorts properties, including signature spas and championship golf courses.

All Palace Resorts hotels feature indoor and outdoor meeting and event facilities for groups of any size at an all-inclusive price. “We enable meeting planners to pay one set price up front, with no hidden fees, so they don’t have to worry about going over budget,” Chapur said. “Our professional group coordinators fine tune all details for all events, from corporate functions in grand ballrooms to intimate beachside weddings.”

The four resorts soon will join the Wyndham Rewards® program, the world’s largest lodging loyalty program based on the more than 6,000 participating hotels, and offer the brand’s Wyndham ByRequest® personalized benefits.

Wyndham Rewards® points can be redeemed for complimentary hotel stays, airline tickets, name-brand merchandise and dining and shopping gift cards, among other options.

In lieu of points, members may elect to earn airline or rail miles with a variety of partners. More information is available at www.wyndhamrewards.com.

Recently, the Wyndham Rewards® program added Mexico’s leading air carrier, AeroMexico, as an earning and redemption partner. As part of a special promotion celebrating the program’s expansion, guests who stay at a participating Wyndham Hotel Group hotel, including the recently added Palace Resorts properties, will earn double airline miles with AeroMexico for stays completed before March 31, 2010. Full details are available at www.wyndhamrewards.com/aeromexico.

Beach Palace, Wyndham Grand Resort

Beach Palace, Wyndham Grand Resort, in the heart of the Cancun hotel and entertainment zone, fuses the moods of the laid-back Caribbean culture with lively Cancun. The resort has an energized yet relaxed atmosphere that caters to the needs of all age groups.

All 287 signature Palace Resorts guest rooms feature spacious accommodations including deluxe lounge chairs on oversized balconies, the perfect spot to watch the sunrise or sunset over the Caribbean Sea or Nichupte Lagoon.

CONTACT: Evy Apostolatos, 973-753-6590, evy.apostolatos@wyndhamworldwide.com

Marcus & Millichap Capital Corp. Arranges $8.8M Loan in Fresno, CA

FRESNO, CA,  Dec. 21, 2009 – Marcus & Millichap Capital Corporation (MMCC) has arranged an $8.8 million loan to refinance the Sunrise Medical facility, a single-tenant office and industrial property in Fresno.

Jerry Wise, a vice president capital markets and senior director in the firm’s West Los Angeles office, arranged the financing for the property.

“This was a challenging transaction due to the single-tenant-use nature of the property and the tenancy by a non-credit private company,” says Wise. “The existing CMBS loan was maturing shortly. The lender did an excellent job of understanding the operating performance of the asset and the family trust that owned the property,” adds Wise.

The 10-year loan is fixed for five years at 7 percent, with a 25-year amortization, and a loan-to-value of 65 percent.

Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716

Arbor Closes Two Fannie Mae Loans

South Creek Apartments in Centralia, WA Gets $1.197,200 Financing

Uniondale, NY (Dec.r 21, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,197,200 loan under the Fannie Mae DUS® product line to refinance the 52-unit complex known as South Creek Apartments in Centralia, WA.

The 13-year loan amortizes on a 30-year schedule and carries a note rate of 6.19 percent.

The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “South Creek was a refinance of an existing LIHTC property for a repeat borrower,” said Porterfield. “Arbor continues to be a very active lender in Fannie Mae’s Multifamily Affordable Housing program.”


Austin Pacifica Apartments in Austin, TX Obtains $1.65M Funding

Uniondale, NY (Dec.r 21, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,650,000 loan under the Fannie Mae DUS® Small Loan product line for the 102-unit complex known as Austin Pacifica Apartments (bottom left photo)  in Austin, TX.

The 10-year loan amortizes on a 25-year schedule and carries a note rate of 5.67 percent.

The loan was originated by Jay Porterfield, Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor had the opportunity to provide acquisition financing for Austin Pacifica,” said Porterfield. “The property was a strategic addition to the borrower’s other holdings in the neighborhood.”

Contact:  Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com,%20follow/ us on Twitter @ arbor1

Kolter Land Partners Acquires Victoria Park in DeLand, FL from The St. Joe Company

WEST PALM BEACH, FL--- Kolter Land Partners, LLC, a privately-owned land acquisition and development firm based in Palm Beach County, has acquired Victoria Park (above and below photos)  in DeLand from The St. Joe Company.

The acquisition of Victoria Park includes seven single-family homes and 20 town homes built by The St. Joe Company; 436 fully developed home sites, 88 partially developed home sites, 1,879 undeveloped home sites on 380 acres; a 2.2-acre commercial site and a Ron Garl-designed golf course with clubhouse and equipment. The purchase price was not disclosed.

“We are pleased to acquire such a quality project with over 1,200 existing residences, which establishes a great foundation for our plans to complete the development of Victoria Park,” Kolter president Jim Harvey said. (center photo above)

Kolter Land Partners, LLC is the land acquisition affiliate of The Kolter Group, the West Palm Beach-based real estate development, investment and construction company that is also developing the central Florida communities of Grande Oaks at Heathrow and Lake Charm in Seminole County and Calabria in West Orange and other projects throughout Florida and the southeastern United States.

Kolter plans to initially focus on selling out the existing inventory at Victoria Park, support existing builders in the community and to start bringing in new builders after the first of the year.

“We look forward to working with the existing residents and builders at Victoria Park, the City of DeLand and Volusia County, on our future plans,” Harvey said

Kolter Land Partners (“KLP”) is a privately-owned affiliate of diversified real estate firm The Kolter Group (www.kolter.com). Specifically, KLP is a land acquisition and development firm based in Palm Beach County, Fla.

Since 1993, KLP and its affiliates have invested over $6 billion in developments comprising over 12,000 units. Presently, KLP and its affiliates hold land for more than 9,000 residences.

KLP invests in prime market locations and focuses on providing builders with a steady supply of finished lots at competitive prices.

The firm targets acquisition of raw land with entitlements in place or nearly in place (which KLP develops in-house), as well as partially or fully developed projects and lots.

For more information. please  contact:

Jim Harvey President, Kolter Land Partners, (813) 615-1244 (ext201), jharvey@kolter.com
Jerry Ray, Senior Vice President of External Affairs, The St. Joe Company 904-301-4430 j.ray@joe.com
 Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com

Nikko Hotels International Prepares for a Spring 2011 Hotel Launch in Xiamen, China

TOKYO -- JAL Hotels Co., Ltd., announced that a new 443-room hotel in Xiamen, China, will be added to Nikko Hotels International, its luxury international hotel group, in Spring 2011.

Hotel Nikko Xiamen is one of four new Nikko Hotels properties being built in China. These new hotels will bring the total number of Nikko Hotels in China to nine.

Positioned in an upscale newly developed real estate complex, Hotel Nikko Xiamen will have 25 floors spanning over 500,000 square feet. Hotel amenities include restaurants, banquet halls and a spa and fitness center.

(Hotel JAL Tower Dubai, top left photo, opening 2010)

Hotel Nikko Xiamen will be built alongside the Xiamen Software Park and Guanyinshan Business Park, where over 400 companies are in the process of relocating, and an international exhibition and conference center. In addition, a new consulate zone, yacht harbor, a luxury residential zone and entertainment facilities such as a concert hall and theaters are being developed.

With a population of almost three million, Xiamen (top centered skyline photo)  is located in the southeastern province of Fujian and overlooks the Taiwan Strait.

The city is a Special Economic Zone, which has stimulated foreign investment and led to Xiamen becoming one of China's fastest growing cities.

(Hotel Nikko Shanghai, middle right photo to open 2010)

 Xiamen was also recently recognized as one of China's best cities to live in.

Nikko Hotels International is an international luxury hotel group operated by JAL Hotels Co., Ltd. (http://www.jalhotels.com/), a subsidiary of Japan Airlines, headquartered in Tokyo, Japan.

(Hotel Nikko Wuxi, bottom left photo, to open 2010)

 In addition to Nikko Hotels, JAL Hotels also operates Hotel JAL City, a chain of 13 mid-priced hotels for business travelers in Japan. JAL Hotels Co., Ltd. currently has 58 hotels worldwide, in Europe, the Americas, the Middle East and throughout Japan and the Asia/Pacific region.

In 2010, JAL Hotels plans to open one hotel in the United Arab Emirates (UAE) and two hotels in China: the 471-room Hotel JAL Tower Dubai, a Nikko Hotels International property; the 388-room Hotel Nikko Shanghai; and the 500-room Hotel Nikko Wuxi.

In 2011, the company plans to open three hotels: the 300-room JAL Bahrain Resort & Spa, a Nikko Hotels International property, in Bahrain; the 335-room Hotel Nikko Saigon in Vietnam; and the 411-room Hotel Nikko Guangzhou (bottom right photo)

.CONTACT: Tiffany Winbush, +1-212-583-1043, ext. 14, twinbush@bridgeny.com

CBRE Closes Legacy Parc Apartments in Orlando

ORLANDO, FL--CB Richard Ellis is pleased to announce the sale of Legacy Parc, (top left photo) a 320-unit community in the Kissimmee area of the Orlando MSA.

Including the sale of Legacy Parc this month, CBRE’s Central Florida Multi-Housing Group has closed approximately $100 million in apartment transactions in Central Florida this year.

Shelton Granade (bottom left photo)  and Luke Wickham (bottom right photo)  of CBRE’s Orlando office have exclusively represented the sellers in all transactions.

Completed in 1989, Legacy Parc was purchased for condo conversion in 2005, and was foreclosed on by the lender earlier this year. CBRE represented the lender in the bulk sale of the remaining 185 units.

Multi-housing sales activity has continued to increase throughout the year. The other assets sold in Orlando range from “value add” opportunities built in the 1970s and ‘80s to class “A” projects built within the last ten
years.

 CBRE has also sold several “fractured” deals like Legacy Parc –communities that converted and sold units as condominiums and reverted the remaining units back to rentals. CBRE’s Central Florida Multi-Housing Group has closed more multi-housing properties locally in 2009 than any other company, and continues to be the market leader in Orlando.

For further information, please contact the Central Florida Multi-Housing Group of CB Richard Ellis.

Contacts:
Shelton Granade, T 407.839.3103, shelton.granade@cbre.com

Luke Wickham, T 407.839.3130, luke.wickham@cbre.co

Marcus & Millichap Promotes Tina D. Taylor to Associate Vice President Investments in Las Vegas

LAS VEGAS, NV — Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Tina D. Taylor (top right photo)  to associate vice president investments, according to John Vorsheck, regional manager of the firm’s Las Vegas office.

Taylor joined Marcus & Millichap in September 2002 and became an associate approximately one year later. She was promoted to senior associate in September 2005.

Taylor specializes in the sale of office and industrial assets and currently serves as a director of the firm’s National Office and Industrial Properties Group in Las Vegas. Taylor has received four sales awards from Marcus & Millichap, including one National Achievement Award.

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

Commercial Florida Executive to Speak at Distressed Real Estate Summit in Tampa

ORLANDO, Fla. --- Jeffrey Sweeney, (top right photo)  SIOR, president of Grubb & Ellis Commercial Florida in Tampa, Orlando and Melbourne, will be a featured speaker at a Distressed Real Estate Summit in Tampa on Feb. 12.

Sweeney is recognized as one of the state’s leading authorities on distressed commercial properties. Last year Sweeney inaugurated a Distressed Properties Division at Grubb & Ellis Commercial Florida and the firm currently is involved with more than 125 distressed commercial properties valued in excess of $175 million throughout Florida.

“The national real estate slowdown that started four years ago is affecting the commercial real estate sector now and we expect to see more properties in distressed stages in the future,” Sweeney said.

“The lending community has begun to aggressively address distressed assets and we anticipate greater activity in 2010,” Sweeney said.

Grubb & Ellis Commercial Florida created a new division to focus on analyzing and appealing property tax assessments, which can substantially reduce operating expenses and stave off foreclosure efforts, Sweeney said.

Contact:


Jeff Sweeney, SIOR 407-481-5387, 315 E. Robinson St. Suite 555, Orlando, FL 32801, http://www.commercialfl.com/
Larry Vershel Communications, 407-644-4142

Arbor Closes Three Fannie Mae DUS® Loans Totaling $7,876,100

Uniondale, NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three (3) loans totaling $7,876,100 under the Fannie Mae DUS® product line. These loans include:

· Prairie Glen East Cooperative, Manhattan, KS – A 100-unit complex in the amount of $1,476,100 funded under the Fannie Mae DUS® COOP (MAH) product line. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.33 percent.

Park North Cooperative, Olathe, KS – A 100-unit complex in the amount of $2,500,000 funded under the Fannie Mae DUS® COOP product line. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.54 percent.

Highleah Townhomes Cooperative, Independence, MO – A 330-unit complex in the amount of $3,900,000 funded under the Fannie Mae DUS® product line. The 15-year loan amortizes on a 30-year schedule and carries a note rate of 6.06 percent.

The loans were originated by Michael Jehle, (top left photo)  Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.

 "With each loan, the members of the cooperative were able to borrow significant funds to provide extensive capital improvements to their community,” said Jehle. “This objective was achieved at very attractive long-term interest rates."

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1