Matthew Swantko Joins Grubb & Ellis Company as Vice President, Retail Group

SOUTHFIELD, MI,  (Ma.  3, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that 21-year commercial real estate veteran Matthew Swantko (top right photo)  has joined the firm as vice president, Retail Group, effective immediately.

In this role, Swantko will be responsible for building Grubb & Ellis’ retail team in Southeast Michigan, as well as providing retail real estate services to investors and tenants.

“Matt brings excellent relationships and experience to Grubb & Ellis,” said Fred Liesveld, (bottom left photo)  executive vice president and managing director of Grubb & Ellis’ Detroit office. “Having someone of Matt’s reputation and talents lead our retail practice positions us well to capitalize on the recovery of the sector once the economy begins to improve.”

Swantko was most recently president and a founding partner of Source Real Estate & Investment Company, a Southeast Michigan-based boutique retail real estate firm providing investor/landlord and tenant representation services.

In this position, which he held since 1994, he provided local retail real estate services for clients including Qdoba Mexican Grill, GE Capital, Darden Restaurant Group, Five Guys Burgers and Fries, TGIFridays, Marshall Fields, Culver’s, Chili’s and Lone Star Steakhouse.

“Being in a position to carefully and thoughtfully grow the retail practice of a respected firm like Grubb & Ellis is an incredible opportunity for me,” said Swantko. “I also look forward to seeing the impact that the company’s resources and national platform will have on my ability to serve my clients.”

Prior to founding Source Real Estate, Swantko was an associate with D.A. Swantko & Associates, where he began his career in retail tenant representation and leasing in 1989. He is a licensed real estate professional in the State of Michigan and is a member of the International Council of Shopping Centers.

Contact: Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com

Arbor Appoints Todd Marans to FHA Deputy Chief Underwriter

UNIONDALE, NY  (Mar. 2, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, has announced today the appointment of Todd Marans (top right photo) to FHA Deputy Chief Underwriter.

 He reports to Thomas Dodge, FHA Chief Underwriter and will be based out of the Company’s San Francisco office.

Mr. Marans oversees the processing and underwriting of multifamily and healthcare loans under the FHA Mortgage Insurance Programs. Additionally, he will ensure the Company’s compliance with HUD, MAP and LEAN requirements.

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

Orange County, FL Resort Tax Collections for January Down 10%

ORLANDO, FLORIDA -- Orange County Comptroller Martha Haynie  (top right photo) announced today that resort tax collections received by the County in February for the hotel collection month of January 2010 were $11,588,200. Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that January 2010 collections were nearly 10 percent lower than January 2009. “This drop on the heels of last month’s leveling off shows us that the tourist economy is not yet coming out of the recession,” Haynie stated.

For a complete copy of the report, please contact:

Martha O. Haynie,  (407) 836-5690

Joan Randolph, PH 407-836-5986, Fax: 407-836-5599

HFF named to market for sale The Shoppes at Chino Hills in Chino, CA

IRVINE, CA – The Orange County office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale The Shoppes at Chino Hills, (above centered photo)  a 380,000-square-foot trophy lifestyle center in Chino Hills, California.

HFF senior managing director Ryan Gallagher (middle right photo)  and directors Kelly Rohfeld, (bottom  left photo) Bryan Ley and John Crump will market the property on behalf of the seller, a bank consortium group. There is no formal asking price for the property.

Located at 13800-13920 Village Center Drive in Chino Hills, The Shoppes at Chino Hills is part of a larger master planned project that includes the Chino Hills Civic Center, Chino Hills City Hall, Chino Hills Police station and the public library.

 The property was designed by Altoon + Porter architects and was completed in 2008. The 87% leased property is anchored by XXI Forever, H&M, Trader Joes, Banana Republic, Victoria’s Secret and Barnes and Noble.

“This is a really rare opportunity to pick up a trophy asset, at a discount, 18 months after it was developed," Gallagher says.

"This is an asset that would not be available if it hadn't been for the entity-level bankruptcy of Opus West,” added Gallagher.

Contacts:

Ryan Gallagher, Ca. Lic. # 01269918, HFF Senior Managing Director, (949) 253-8800, rgallagher@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF Closes Sale of Gaithersburg, MD Office/Lab Buildings

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 55 and 65 West Watkins Mill Road, two flex office lab buildings totaling 82,405 square feet in Gaithersburg, Maryland.

HFF senior managing directors Jim Meisel (top right photo) and Dek Potts (top left photo) and senior real estate analyst Jimmy Barter led the investment sales team on behalf of the seller, RREEF. BioMed Realty Trust purchased the property for $14.385 million free and clear of debt.

55 and 65 West Watkins Mill Road are within Bennington Corporate Center in the Interstate 270 corridor in Gaithersburg, Maryland.

Completed in 1999, the properties consist of a 39,505-square-foot, two-story office building and a 42,900-square-foot single-story lab/office building. 55 West Watkins Mill Road is fully leased to MedImmune, and GenVec leases the entire 65 West Watkins Mill Road.

“This product clearly fits very well for BioMed as they seek to add to their Maryland portfolio,” said Meisel.

 RREEF Real Estate acquires and manages investments in commercial and residential property, and real estate securities on behalf of its institutional and private clients worldwide.

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry®. BioMed acquires, develops, owns and operates laboratory and office space.

Contacts:
James A. Meisel, HFF Senior Managing Director, (202) 533-2500, jmeisel@hfflp.com
Stephen "Dek" Potts Jr., HFF Senior Managing Director, (202) 533-2500, dpotts@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Specialized Asset Management Launches Partnership with RealtyTrac

HIGHLANDS RANCH, CO. – Mar.  2, 2010 – Specialized Asset Management LLC (https://www.samreo.net), a national provider of asset marketing and disposition services to mortgage lenders, servicers, and investors, recently announced that it has partnered with RealtyTrac (www.realtytrac.com), the leading online foreclosure marketplace for default, auction and bank-owned REOs.

 The partnership gives additional market exposure for foreclosed property listings provided by Specialized Asset Management LLC, displaying them prominently to RealtyTrac’s 3 million unique monthly visitors.

“Marketing our REO assets to RealtyTrac’s 3 million unique monthly visitors provides us with additional marketing visibility to help liquidate our REO assets,” said Rudy Krupka, (top right photo)  Vice President, REO, at Specialized Asset Management. “Our strategic partnership with RealtyTrac will assist our agents in promoting the properties to interested buyers across the country.”

Media contact: Tammy Chan, Atomic PR, Direct: 212-699-3646, Mobile: 408-802-8682, tammy@atomicpr.com

Ardaman's Trillian Baldassari takes home two ASCE awards

ORLANDO, FL, Mar.  2, 2010 —Trillian Baldassari,  EI, EPI, an engineer at Ardaman & Associates Inc., was honored twice during National Engineers Week by the Eastern Regional Younger Member Council of the American Society of Civil Engineers.

Baldassari took home the Outstanding Younger Member in Community Activities Award and the Outstanding Younger Member Group Community Service Project Award presented at the organization’s annual banquet held on Saturday, February 13, 2010 at Azios downtown in Atlanta, GA.

Baldassari is a staff engineer with Ardaman’s water resources group. She has a Master of Science in Environmental Engineering and a Bachelor of Science in Environmental Engineering from the University of Central Florida in Orlando, Fla.

Along with her active participation in the American Society of Civil Engineers, Baldassari is a member of Women in the Environment and Engineers Without Borders.

Ardaman secures continuing services contracts with Sarasota school board

ORLANDO, FL, Mar.  2, 2010 — Ardaman & Associates Inc. has secured a three-year continuing services contract from Sarasota County Schools.

Under its scope of services, Ardaman is providing geotechnical engineering, soils testing, materials testing and threshold building inspection services on an as needed basis for facilities and properties throughout the district. Engineering fees for this contract will be awarded per task order based on an approved unit fee schedule.

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

Matt McGregor Joins Grubb & Ellis as Senior Vice President, Industrial Group

SEATTLE (March 1, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Matt McGregor (top right photo)  has joined the company as senior vice president, Industrial Group. He will continue his focus on tenant and landlord representation and acquisitions and dispositions in the Puget Sound industrial market.

“Matt is a valuable addition to our office. He is a talented, well-respected professional in Puget Sound and represents many quality clients,” said Bill Condon, managing director of Grubb & Ellis’ Seattle office. “I couldn’t be more pleased that he is joining our team.”

McGregor joins Grubb & Ellis from Cushman & Wakefield of Washington Inc., where he served as senior director, Industrial Advisory Services Group.
Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com


Paul Buckingham Joins Grubb & Ellis as Senior Vice President, Office Group

ROSEMONT, IL– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that 19-year commercial real estate veteran Paul N. Buckingham has joined the firm as senior vice president, Office Group, effective immediately.

In this role, Buckingham will provide tenant representation services for clients in the North, Northwest and O’Hare submarkets, as well as corporate accounts with multi-market needs.

Contact:  Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com

Starwood Names Ralph Burnet of Minneapolis Developer of the Year for 2009

 

MINNEAPOLIS, MN--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. has named Ralph Burnet, (top right photo)  and his company RWB Development, 2009 Developer of the Year.

The honor was announced at the recent Starwood North America Owners Conference held in Fort Lauderdale, Fla.

The award was presented in recognition of Burnet’s two Starwood-managed properties, W Minneapolis – The Foshay (bottom right  photo)  and the recently converted, Le Meridien Chambers, (top left  photo)  both located in Minneapolis.

The Starwood Developer of the Year award recognizes those organizations or individuals that opened hotels between Sept. 1, 2008 and Dec. 31, 2009 and went above and beyond to ensure that development was on-time, on-strategy and on-brand.

In presenting the award to Burnet, Denise Coll, ( middle left photo) President of the North America Division, Starwood Hotels & Resorts Worldwide, Inc, noted his “passion for art, design and lifestyle hotel brands as reflected in his two spectacular properties.”

“Ralph takes personal ownership of his investments, and his attention to detail is evident the moment you walk in the door to one of his hotels,” said Coll.

“Both his hotels are historical retrofits of office buildings and among the first of their kind. Ralph’s belief in Starwood's brands has made him an incredible asset to the company, and his zest for collecting art and globetrotting has helped to authentically bring the W and Le Méridien points of view to life.”

The award was presented as part of the First Annual North America Owner Awards and was one of 19 awards presented in eight different categories.

Other categories included: Environmental Sustainability, Community Outreach, Conversion of the Year, New Build of the Year, Renovation of the Year, Deal of the Year and the President’s Award.

Le Méridien Chambers is a 60-room art hotel located at 901 Hennepin Avenue, and is considered one of the top art hotels in the world. Burnet’s other Starwood hotel is W Minneapolis – The Foshay, located in the historic Foshay Tower.

W Minneapolis is a 229-room, contemporary lifestyle hotel located at Marquette and Ninth Street, featuring its own museum and Minneapolis/St Paul’s only public observation deck. Both hotels are located in downtown Minneapolis in the heart of the city’s cultural, business and social scenes.

For more information or reservations visit www.LeMeridien.com/minneapolis or www.WHotels.com/Minneapolis
.
Contact:  Jacqueline Hanson, 952-941-3949, Hanson Communications, 952-451-5000 M, Jacqueline@HansonPR.com

Hines Receives Top Award From EPA

Energy Efficiency a High Priority for Hines and Its Tenants

HOUSTON--(BUSINESS WIRE)--Hines, the international real estate firm, announced today that it has been recognized by the U.S. Environmental Protection Agency (EPA) with the 2010 ENERGY STAR® Sustained Excellence Award in recognition of continued leadership in protecting the environment through energy efficiency.

Hines will be recognized at an awards ceremony in Washington, D.C., on March 18.

“The ability to continually reduce energy consumption over long periods of time requires creativity and discipline, and Hines has been highly successful in this area – while also broadly promoting the ENERGY STAR partnership to clients, employees and tenants.”

(Del Bosque, Mexico City, Mexico, top left photo)

This is the sixth time Hines has been recognized by the EPA as a Partner of the Year and the third time Hines has received the Sustained Excellence Award.

Hines’ portfolio of ENERGY STAR buildings consists of 147 facilities and more than 75 million square feet. With a weighted-average performance rating of 88 (38 points higher than the national average), the portfolio is 41.5 percent more energy efficient than the national average.

This translates into a savings of $1.35 per-square-foot per year, as well as estimated annual greenhouse gas reductions equivalent to removing 100,000 automobiles from the road.

(Williams Tower, Houston, TX, middle right photo)

Hines is also a leading developer in the EPA’s Designed to Earn the ENERGY STAR program, which recognizes buildings designed to achieve superior results in energy efficiency. Twelve Hines projects have earned this designation.

“Hines has continued to demonstrate exemplary leadership among ENERGY STAR partners for more than a decade,” said Alyssa Quarforth,  (top right photo) U.S. EPA ENERGY STAR Program Manager for Commercial Properties.

(EDF Tower, Paris, France, middle left photo)

“The ability to continually reduce energy consumption over long periods of time requires creativity and discipline, and Hines has been highly successful in this area – while also broadly promoting the ENERGY STAR partnership to clients, employees and tenants.”

In addition to emphasizing the importance of energy efficiency to its tenants, Hines offers its “GREEN OFFICE for Tenants” program to enhance sustainable operations within tenant spaces.

“Energy efficiency is one of the most important value drivers in today’s real estate economy,” said Hines President and CEO Jeffrey C. Hines. “We use ENERGY STAR in tandem with Hines’ proprietary building management tools to maximize performance, minimize risk and preserve long-term value.”

Hines is also a leader in the U.S. Green Building Council’s LEED® program. Last week, Hines announced that its portfolio of developed, owned and/or managed properties in the U.S. Green Building Council’s LEED program had exceeded 100 million square feet, representing nearly 200 projects.

Sustained Excellence Awards are given to organizations that have exhibited outstanding leadership year after year, reducing greenhouse gas emissions by setting and achieving aggressive goals, employing innovative approaches, and showing others what can be achieved.

 Award winners are selected from more than 17,000 organizations that participate in the ENERGY STAR program. ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. For more information visit http://www.energystar.gov/.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,111 properties representing more than 451 million square feet.

With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $22.2 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.

Contacts: Hines, George Lancaster, 713-966-7676, george_lancaster@hines.com

Ken Baudry Joins Grubb & Ellis as Senior Vice President, National Data Center Practice

ATLANTA (Feb. 25, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Ken Baudry (top right photo) , founder and former president of KJ Baudry Inc. and a leading data center expert, has joined the company as senior vice president, National Data Center Practice, effective immediately.

With more than 23 years of experience in real estate brokerage, data center design, consulting and project management, Baudry will represent owners and users in their data center real estate needs while overseeing Grubb & Ellis’ National Data Center Practice efforts in the Southeast region.

“Bringing Ken on board to oversee the Southeast fills the last region of the map for our National Data Center Practice,” said Jack Van Berkel, (bottom left photo)  chief operating officer and president, Real Estate Services.

“By recruiting top talent and leveraging the company’s national platform, the National Data Center Practice has become a leading service provider to many major corporations, including Equinix, Sabey and United Airlines.”

Baudry becomes the 19th member of Grubb & Ellis’ National Data Centers Practice, which was formed in 2008 to serve the increasingly complex data center needs of its clients in markets throughout the country. The team’s members have highly technical backgrounds in a number of disciplines, including corporate real estate, brokerage, engineering, construction, project management and digital consulting.

Contact: Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com

Cambridge Reports Dollar Volume for Loan Origination Requests Shows Slight Improvement in January

CHICAGO, IL--Cambridge Realty Capital Companies reports that the 22 loan origination requests processed by the company in January lagged behind the total for the same month last year, when 27 loan origination requests were reviewed.

Even so, the combined dollar volume for loan origination requests was slightly higher for the first month of this year, $373.9 million compared with $364.6 million in January 2009, Cambridge Chairman Jeffrey A. Davis (top right photo) reports.

Lenders close a relatively small percentage of loan requests received. But Davis believes it’s useful to track this information as an indication of market directions.

“While it’s too early to establish a trend line for 2010, analysis of a year-over-year 12-month trailing average for origination requests suggests there is room for improvement in the months ahead,” he says.

Davis says the trailing average for origination requests peaked in January 2007, when the company processed 417 loans totaling $4.76 billion for the 12-month period. This compares with 308 requests totaling $4.1 billion for a comparable period ending in January 2010.

Contact: Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap

Marcus & Millichap Lists $24.5M Trophy Asset in Southern California

RANCHO PALOS VERDES, Calif., Feb. 26, 2010 –Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for The Madison, (top left photo)  a 90-unit, 118,874-square foot luxury apartment building in Rancho Palos Verdes.

 The listing price of $24.5 million represents $272,222 per unit and $206 per square foot.

Ron Harris, a senior vice president investments and a senior director of the firm’s National Multi Housing Group in Los Angeles, is representing the seller, a Northern California- based investment group

“The Madison is one of the most esteemed apartment home communities in Rancho Palos Verdes and is an affordable alternative to the multimillion-dollar single-family residences on the Palos Verdes Peninsula,” says Harris.

 “The Madison provides deluxe accommodations for a discerning tenant base that enjoys the Southern California beach lifestyle and benefits from the community’s proximity to multiple employment centers.”

Located in the hills above the Pacific Ocean at 6507 and 6510 Ocean Crest Drive in Rancho Palos Verdes, The Madison’s residents have an easy commute to downtown Los Angeles and Long Beach, the two largest employment centers in the Los Angeles metropolitan area.

 The property is also minutes from multiple key employers in neighboring Torrance.

The Madison’s unit mix features 19 one-bedroom/one-bath units and 71 two-bedroom/two-bath apartments. The average unit size is greater than 1,200 square feet and 56 percent of the apartments have ocean views. Select units have panoramic views of the sea and of Catalina Island.

The Madison has recently received more than $2.1 million in renovations, including unit upgrades and common area improvements.

“The Madison is not subject to any rent control restrictions,” adds Harris. “This is an excellent opportunity to further upgrade renovations to the standard of other trophy coastal assets in Hermosa Beach, Marina Del Rey and Santa Monica.”

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

Timeshare Survey Shows Exchange Availability and High Maintenance Fees at Top of Owners' Complaint List

SEATTLE,, WA, Feb.  26, 2010 --(PR.com)-- A timeshare survey released by RedWeek.com the largest online timeshare marketplace, identified the top five timeshare improvements.

Topping the list were exchange availability and the high maintenance fees charged by the resorts. The remaining three categories rounding out the top five list are: honesty, resale opportunities, and resort improvements.

The number one item on the list - exchange availability - refers to a timeshare owner's desire to trade their interval week at one resort for a week at another resort.

High maintenance fees, the second survey item, indicated respondents concerns over the rising annual fee charged by the resort and paid by the owners. These fees vary from resort to resort and also by size and type of the timeshare unit owned.

"RedWeek.com visitors are telling us that it's not easy to make their desired exchange," said Randy Conrads, (top right photo)  RedWeek.com CEO. "It is also clear that flexibility and reasonable fees are vital to timeshare."

Timeshare owner and RedWeek.com member Caroline Lindholm commented, "We love our timeshares but are concerned about rising maintenance fees.

"My family owns several weeks and we have made approximately 100 exchanges since 1995. In recent years,  there has been a sharp decrease in the availability of desired exchange weeks."

The breakdown of over 650 responses received to the question, "What would you like to improve about timeshare?" are:

*Exchange availability, 34%
*High maintenance fees, 28%
*Honesty and less pressure, 14%
*Resale opportunities, 12%
*Resort improvements, 7%

Survey response categories not included in the top five are: easier to understand (timesharing), poor management (of resorts), and shorter stays - the typical timeshare interval is seven nights.

RedWeek.com is the largest online marketplace for timeshare rentals, timeshare resale and timeshare exchange. It is a member-supported marketplace connecting travelers and the timeshare community.

The site was launched in November of 2002 and now has over 1,300,000 registered users and includes 5,000 timeshare resorts worldwide. It offers resort condominium accommodations for rent, purchase, and exchange directly between users.

The company was co-founded by Randy Conrads, who also founded the popular Classmates.com Web site, which was acquired in 2004 by United Online, Inc.

Contact: John Locher,  425-458-4440, ext. 1, john@redweek.com, http://www.redweek.com/

$16.5M Luxury Apartment Complex in Northern California Listed by Marcus & Millichap

 NOVATO, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Oak Grove Apartments (top left photo) , an 88-unit, 75,666-square foot luxury apartment complex in Novato.

The listing price of $16.5 million represents $187,500 per unit and $218 per square foot.

Brad Pennington, a first vice president investments and a director of the firm’s National Multi Housing Group in San Francisco, is representing the seller.

“Oak Grove Apartments is the premiere multifamily community in this submarket,” comments Pennington. “The current ownership has been in place for the past 10 years.”

 Nestled into a hillside adjacent to a greenbelt, the property is located at 100-145 Cielo Lane in Novato, Marin County’s northernmost city.

Built in 1998, Oak Grove Apartments sits on six separate parcels of land totaling approximately 6.16 acres. The complex consists of eight three-story residential buildings, seven enclosed garage buildings and a freestanding fitness center.

 The buildings are wood-frame construction with stucco and wood exteriors on slab foundations. The roofs are pitched-composition shingle and the property has ample parking for 204 cars.

 The unit mix is comprised of 55 two-bedroom/two-bath apartments ranging from 893 to 1,089 square feet and 33 one-bedroom/one-bath units ranging from 636 to 870 square feet.

The large individual units all have washers and dryers, one-car garages and either a patio or a balcony. Seven storage closets are available for tenants to rent.

 Novato is located approximately 29 miles north of San Francisco and 37 miles northwest of Oakland, Calif.

The Golden Gate Bridge (bottom left photo)  links Marin County to San Francisco and the Richmond-San Rafael Bridge connects the county to the East Bay.

Marin County is bordered to the north by Sonoma County and to the west by the Pacific Ocean.

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