MBA Study: First Quarter 2010 Commercial/Multifamily Mortgage Originations Increase from Year Earlier, Though Levels Remain Low

WASHINGTON, , DC (May 18, 2010) - First quarter 2010 commercial and multifamily mortgage loan originations were 12 percent higher than during the same period last year and 26 percent lower than during the fourth quarter of 2009, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

"The results of the survey showed changes in commercial and multifamily origination levels varied significantly between investor groups.

"However, it's hard to draw conclusions based on first quarter numbers given seasonal effects, such as the industry's usual push to finalize deals before the end of the year, resulting in lower first quarter origination activity," said Jamie Woodwell, (top right photo) MBA's Vice President of Commercial Real Estate Research.

 "Based on surveys from the Federal Reserve Board and discussions with lenders, there appears to be increasing capital available for commercial mortgages, but only limited demand for new mortgages from commercial and multifamily property investors."

Among the key findings in the report are:

---New commercial and multifamily mortgages increased 12 percent from last year's levels.
---On an absolute level, volumes remain low, with significant variations between investor groups.
---Originations for CMBS conduits and life insurance companies increased dramatically on a percentage basis - coming off of very low bases.
---Originations for Fannie Mae and Freddie Mac, which had remained robust through the credit crisis, fell by almost half.

For a complete copy of the news release, please contact:
 Carolyn Kemp, (202) 557-2727, ckemp@mortgagebankers.org

HFF named to market for sale 1.95 Million-SF industrial portfolio in Oklahoma

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has been named to market for sale a 16-building, 1,950,000-square-foot, 99.7% leased industrial portfolio located in Oklahoma City and Tulsa, Oklahoma.

The HFF investment sales team will be led by managing director Jud Clements (top right photo)  and director Robby Rieke (middle left photo)  who are marketing the portfolio on behalf of the seller, The Gardner Tanenbaum Group.


The Gardner Tanenbaum Group is based in Oklahoma City and is a fully-integrated real estate development company with more than 60 years of experience.

The portfolio is being offered in two separate sub-portfolios as the portfolio is encumbered with two attractive assumable debt options that run through March 2015 and January 2016 that will enhance the overall returns. The two portfolios are being offered individually or as a single portfolio transaction.

The portfolio is currently leased to 40 tenants with an average remaining lease term of approximately five years. Tenants include L-3 Communications, Northrop Grumman, ACS, Sherwin-Williams and Carrier Corporation, to name a few.

“The portfolio has had an average occupancy in excess of 99% since 2006, evidencing the strength of the overall portfolio,” said Clements.

Contacts:

Judson Clements, HFF Managing Director, (214) 265-0880, jclements@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Industrial Team at Southern Commercial Completes 14,558-SF New Lease

ORLANDO, FL.(May 18, 2010) Principals Tom McFadden, SIOR and William “Bo” Bradford, CCIM, SIOR of Southern Commercial Real Estate Advisors completed a 14,558 square foot new lease at 4071-4075 Seaboard Road, Orlando, Florida.

McFadden and Bradford negotiated the 5 year lease, representing the Landlord, RREEF. The Tenant, Interline Brands, Inc. was represented by John McDaniel with Mohr Partners out of Dallas, TX.

Media Contact: Celeste MacKenzie Southern Commercial Real Estate Advisors, 321-281-8503 20 N. Orange Avenue, Suite 605, Orlando, FL 32801, cmackenzie@southerncommercialre.com

Morrison Commercial Real Estate Completes 3 Office Lease Transactions Totaling 16,520 SF in Orlando, FL

 ORLANDO, FL (May 18, 2010): Greg Morrison (top right photo), CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of three office lease transactions totaling 16,520± square feet.

Damien Madsen of Morrison Commercial Real Estate represented the tenant, PlusOne Solutions in subleasing a 7,532 square foot space located at 11301 Corporate Blvd, Orlando, FL. Scott Bell of Jones Lang LaSalle represented the sublandlord in this transaction

Christi Davis of Morrison Commercial Real Estate represented the landlord at SunTech Commerce Park in leasing a 4,247 square foot space to Corporate Merchant Solutions, Inc. At 30 S. Magnolia Avenue, Davis represented the landlord in leasing 4,741 square feet to Revenue Consulting, Inc.

Contact: Buffy Gillette, Phone: 407.219.3500, Email: bgillette@morrisoncre.com

Arbor Named Top 10 Fannie Mae DUS® Lender for Third Year in a Row

UNIONDALE, NY (May 18, 2010) - Arbor Commercial Mortgage, LLC (Arbor) today announced that it has once again been named a Top Ten Fannie Mae Delegated Underwriting and Servicing (DUS®) lender for 2009.

Over the last three years, the company has continued to increase its ranking, rising to the number eight spot for its production in 2009.

"We are extremely proud of our business partnership and accomplishments with the Fannie Mae DUS® program," said Ivan Kaufman, (top right photo) Chairman and CEO of Arbor.

"We were one of the few companies to grow market share in 2009 and this increased ranking is a tremendous accomplishment. I want to congratulate our EVP, Director of Operations, John Caulfield, (middle left photo)  under whom we have grown our platform, as well as the dedicated Arbor family of employees who have worked so hard to help us achieve this milestone."

AmVest Capital Teams up with Arbor Commercial Mortgage to Deliver Multifamily Product Line to its Expansive Client Base

CHARLESTON, SC, May 18, 2010--- AmVest Capital, LLC, a leading provider of financial services and solutions to community and regional banks nationwide, announced today that it has partnered with New York-based national direct lender Arbor Commercial Mortgage to meet the growing demand for commercial/multifamily loan products.

AmVest will now offer a complete line of Fannie Mae DUS® products to its group of more than 100 banks across the nation.

“This new partnership allows AmVest to respond to the strong need of our bankers for off-balance sheet commercial/multifamily loans,” said Mark Kelley, (lower right photo) Chief Executive Officer. “Arbor’s market presence as a Top Ten Fannie Mae DUS® lender allows us to provide direct lending access along with the highest levels of execution and customer service in the marketplace.”

Loan amounts will begin at $1 million with no maximum.

“We are very pleased to partner with AmVest to offer our vast product line and pride ourselves in delivering swift execution and first-class customer service,” said John Caulfield, EVP, Director of Operations for Arbor. “We look forward to providing direct and seamless lending to AmVest and its growing client base.”

This partnership will complement AmVest Capital’s existing product offering which includes: FDIC Expanded Insurance, Cash/Treasury Management, Loan and Portfolio Purchases and Credit Card Services.

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

Contact: for Arbor:  Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com
Contact for AmVest: Mark Kelley/843.682.3757

Jesse Gant Joins RealtyTrac as Vice President Product & User Experience

IRVINE, CA– May 18, 2010 – RealtyTrac™ (www.realtytrac.com), the leading online marketplace for foreclosure properties, today announced the hiring of technology and Internet veteran Jesse Gant (top right photo).

In his role as Vice President of Product and User Experience, Gant will lead a team to develop a product plan and vision, leveraging the company’s innovative applications and capabilities, to drive membership and revenue growth.

“We are delighted that Jesse has joined RealtyTrac,” said James J. Saccacio (top left photo) , chief executive officer of RealtyTrac. “Jesse brings the kind of forward-thinking online management experience we are looking for to help us grow our business.

"He has experience segmenting audiences with a strong focus on refining the customer experience. Jesse will help us take our vision to another level for the multiple audiences that use RealtyTrac. His expertise will help us create, define and articulate the RealtyTrac brand to all our customers.”

Gant brings more than 12 years of B2B and B2C product and user experience to RealtyTrac. He has held senior management positions in a diverse group of companies, including Ancestry.com, Omniture and Buy.com. He most recently was director of product management and user experience at Teradata, a data warehousing and enterprise analytics company.
Contact: Tammy Chan, Atomic PR, Direct: 212-699-3646, http://www.atomicpr.com/

Thomas D. Wood & Co. Arranges $1.55M Loan for Corporate Center of Middleburg in Ohio

MIAMI, FL, May 18, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $1,550,000 for the Corporate Center of Middleburg in Middleburg Heights, Ohio.

Steve Wood, Company Chief Operating Officer, along with Matthew Fuller of Biscayne Asset Management, secured financing for the Corporate Center of Middleburg through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company.

The fixed-rate loan has a term of seven years, with rate resets every seven years, based on a 25-year amortization and an interest rate of 6.90%. The loan-to-value is 50%. The 31,404 square-foot office was built in 1976 and renovated in 1988, and is home to tenant Sanford Brown College. The Corporate Center of Middleburg is located at 17535 Rosbough Drive, Middleburg Heights, Ohio.

For further information, please contact:

Steve Wood (305) 447-7836 swood@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

HFF arranges $13.2M first mortgage refinancing for metropolitan Washington, D.C. Class A office building

NEW YORK, NY – The New York and Washington, D.C. offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged a $13.2 million first mortgage refinancing for Dulles Creek, (bottom right photo) an 87,562-square-foot, Class A office building in Herndon, Virginia.

Senior managing director Jay Marshall (top right photo) of HFF New York and director Cary Abod (top left photo)  of HFF Washington, D.C. exclusively represented Brickman in arranging the three-year, 7.12% fixed-rate loan through FundCore Finance.

Brickman makes debt and equity investments primarily in office properties. The firm has acquired more than four million square feet of office, multi-housing and hotel properties since their inception in 1992, and owns the Dulles property through Brickman Real Estate Fund II.

Completed in 2001, Dulles Creek is a four-story office building that is 87% leased to tenants including Regus Business Centers. The property is located at 13800 Coppermine Road adjacent to the Washington Dulles International Airport and south of the Dulles Toll Road in Herndon.

“Dulles Creek has an outstanding location at the confluence of a major international airport, important local highways and the future site of a Metrorail station near Tyson’s Corner in the D.C. metropolitan area,” said Abod.

Contacts:

Jay B. Marshall, HFF Senior Managing Director, (212) 245-2425, jmarshall@hfflp.com
 Cary P. Abod, HFF Director, (202) 533-2500, cabod@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Cash Buyers Acquire 83% Of New Condos In Downtown Miami

MIAMI, FL--Despite the efforts of the U.S.-backed mortgage company Fannie Mae, financing was used in only 17 percent of the more than 700 new condo sales in Greater Downtown Miami in the first quarter of 2010, according to a new report from CondoVultures.com.

Buyers acquired nearly 600 units in 29 projects in Greater Downtown Miami in all-cash transactions between January and March.

By comparison, financing was used to acquire less than 120 units in 19 projects in the 60-block stretch, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Miami ™.

"Even though the U.S. government is encouraging lenders to once again finance condo purchases, the results have not been impressive in South Florida," said Peter Zalewski, (bottom left photo)  a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"Many lenders claim to be willing to consider writing loans for buyers of condominiums but the end results simply do not support that.

"The current new condo absorption is being driven by all-cash buyers who are purchasing more than four out of every five units in Greater Downtown Miami."

Condo financing is one of the topics that will be discussed at the upcoming Condo Vultures® seminar entitled "An Insider's Assessment Of Florida Banking" on June 1 featuring the Florida Bankers Association's President and Chief Executive Officer Alex Sanchez.

Contact:  Peter Zalewski of Condo Vultures®, 800-750-0517 or by email at peter@condovultures.com.

Grubb & Ellis Opens Brokerage Office at 2575 East Camelback Road in Phoenix

PHOENIX, AZ (May 17, 2010) – As part of its commitment to provide clients with a full service real estate platform in Phoenix, Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has opened a temporary office at the Esplanade IV, located at 2575 East Camelback Road, effective immediately.

“The interest among local brokerage professionals to be a part of Grubb & Ellis’ 40-year history in Phoenix has been outstanding,” said Pete Bolton, (top right photo)  executive vice president and managing director of the company’s Phoenix operations.

“This temporary location will allow us to begin staffing our operations while we finalize plans for a permanent location that will house the 30 to 40 brokerage professionals we expect to have onboard by year-end.”

Grubb & Ellis’ management services professionals will continue to operate from its current location at 8700 E. Via de Ventura, Suite 150, Scottsdale, until the company moves into a permanent office in the next 90 to 120 days. The company anticipates announcing its permanent location within the next 120 days.

Contacts:
 Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com
Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

Crossman & Co. Negotiates Three New Leases Totaling More than 4,700 SF of Office and Retail Space

ORLANDO - Crossman & Company, one of the largest third-party retail leasing and management firms in the Southeast, recently negotiated three new leases for professional office and retail space totaling in Orlando 4,721 feet.

Katherine Rush, (top right photo)  leasing associate at Crossman & Company negotiated all three transactions representing the landlords.

Rush negotiated a five-year lease with Jacksonville-based Five Star Vision, Inc. d/b/a Sprint for 1,900 square feet of space at 2323 S. Orange Avenue, representing the landlord, Page Street Orange Avenue, LLC.

At 6001 Vineland Rd., Rush negotiated a three-year lease of 1,646 square feet of office space with the new tenant Lions Management Services, representing the landlord, 1560 N. Orange, Ltd.

Miami-based Ecco Lab Group, is the new tenant Rush negotiated with for a one-year lease of the 1,185 square feet of professional office space at Suite F, 1130 S. Semoran Blvd., representing the landlord, Highside Investments, Inc.

Crossman & Co.  negotiates Renewal lease for more than 13,500 SF  on S. Conway Rd. in Orlando

ORLANDO – Crossman & Company, one of the largest property management and leasing firms in the Southeast, recently negotiated a three-year renewal agreement for 13,537 square feet of retail space at 5140 S. Conway Rd. in Orlando.

Katherine Rush, associate at Crossman & Company, negotiated the transaction representing the landlord Belle Isle Commons, LLC.

Fellowship of Orlando, Inc. is the tenant.

For more information, contact:

Katherine Rush, Associate, Crossman & Company 407-581-6232; Krush@crossmanco.com;
 Molly Delahunty, Crossman & Company 407-481-6220 mdelahunty@crossmanco.com;
John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Wyndham Hotel Group Joins First Industry-Wide Travel Promotion

PARSIPPANY, N.J. (May 17, 2010) – Wyndham Hotel Group today announced its participation in a unique one-month promotion through DailyGetaways.com, where nearly 50 of America’s top destinations and travel brands have come together to provide once-in-a-lifetime experiences and values.

Created by the U.S. Travel Association and sponsored by American Express®, the Discover America® Daily Getaways promotion runs through June 4th and is aimed at stimulating summer travel by offering consumers an exclusive, specially priced inventory of travel products from 25 leading travel companies that include hotels, airlines, rental cars, attractions, theme parks, dining and shopping, among others.

As part of the promotion, Wyndham Hotel Group will be offering 370 hotel packages in the form of Wyndham Rewards® points that consumers may then use to create unique experiences at the company’s hotels and resorts, which include such well-known brands as Wyndham Hotels and Resorts®, Ramada®, Days Inn® and Super 8®. The offers will be available on May 18th, 2010 at www.dailygetaways.com.

“With more hotels in the U.S. than any other company in the world, it’s our pleasure to participate in this promotion and share with consumers the great quality and value that exists within Wyndham’s diverse portfolio,” said Robin Korman, Wyndham Hotel Group senior vice president of loyalty marketing and strategic partnerships. “It’s also a great opportunity to acquaint travelers with Wyndham Rewards, our robust loyalty program offering a large network of earning and redemption options in over 20 countries.”

CONTACT: Rob Myers, Public Relations Manager, Wyndham Hotel Group, 22 Sylvan Way, Parsippany, NJ 07054, +1 (973) 753-6590, rob.myers@wyndhamworldwide.com

Mercantile Capital Corp. Reports its Financed Projects Totaled $46M-Plus from January through April

ALTAMONTE SPRINGS, FL -- Mercantile Capital Corp., the Altamonte Springs lender that ranks as one of the most active providers in the nation of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, reports it financed commercial real estate projects valued at more than $46 million from January through April.

Geof Longstaff, (top right photo) chairman and co-founder at Mercantile Capital Corporation, (MCC) said one loan financed Colimar, Inc.’s $6,170,000 acquisition of a cotton warehouse in Mission, Texas.

Located on the Mexican border, the warehouse operation readies cotton bales for shipment to Mexican textile manufacturers, Longstaff said.

Mercantile Capital Corporation also financed the $2,654,900 acquisition of an historical building in Pasadena, California, for Architects for Education, Inc.

Longstaff said commercial loans during the four-month period almost broke the eight-year old company’s record for loan volume in a four-month period.

“The SBA 504 loan program is gaining recognition as the most accessible, and in some cases, only lending alternative for small business owners in the U.S.,” said Christopher Hurn, (bottom right photo)  chief executive officer at MCC.

“Since we expanded our scope outside the southeast region, we are accommodating inquires every day from almost every region in the nation,” Hurn said.

Visit http://www.504experts.com/  and http://www.504blog.com/.

For more information about this press release, contact

Chris Hurn, CEO Mercantile Capital Corporation, 407-786-5040
Robin Lashley, Mercantile Capital Corporation, 407-786-5040
Beth Payan or Larry Vershel, Larry Vershel Communications 407-644-4142

Marcus & Millichap Sells 156-UNIT/ 492-Bed Student Housing Property in Oxford, MS

 OXFORD, MS, May 14, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sterling University Terrace (top left photo), a 156-unit/492-bed student housing property serving the University of Mississippi in Oxford, MS. according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

Travis Prince, (middle right photo)  senior associate, along with Dorothy Jackman, (bottom left photo)  vice president investments, represented both buyer and seller.

Michael Harris, associate in Marcus & Millichap’s Tampa office, Brent Yurtkuran, MS broker and senior associate of the firm’s Jackson office and Matt Fitzgerald, Regional Manager, assisted in closing this transaction.

Sterling University Terrace is located at 900 Whirlpool Drive. Built in 1999, this 156-unit/492-bedroom garden-style, student housing community provides a variety of furnished floor plans. The unit mix includes two, three and four bedroom units.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Cassidy Turley Officially Welcomes Harry K. Moore of Louisville

ST. LOUIS, MO /PRNewswire/ -- Cassidy Turley, a leading commercial real estate services provider in the U.S.,  announced that Harry K. Moore of Louisville, KY, has officially joined the newly integrated company. Harry K. Moore will formally be known as Cassidy Turley Harry K. Moore while transitioning to Cassidy Turley.

"We are proud to welcome Harry K. Moore to Cassidy Turley," said Mark E. Burkhart, (top right photo)  CEO of Cassidy Turley. "While we continue to expand our geographic reach and service offerings, we are dedicated to providing our clients with a greater array of services and real estate expertise."

Locally owned and operated since 1948, Harry K. Moore specializes in sales and leasing of industrial and commercial properties in Louisville and southern Indiana as well as many surrounding cities in Kentucky.

 The company has consistently ranked as a leading commercial real estate services firm by Business First - the weekly business newspaper of the Louisville region. Since 2000, Harry K. Moore has completed 2,042 transactions consisting of 53 million square feet valued at over $1.275 billion.

"We are very pleased to officially join Cassidy Turley," said Powell Spears, (top left photo) Managing Member, SIOR. "We share a solid belief in person-to-person relationships and hands-on problem solving - a strategic vision of creating value and opportunities for our clients nationwide."

Harry K. Moore offers a full range of services including Office Brokerage, Industrial Brokerage, Investment Services, Retail Services, Landlord and Tenant Representation. As a result of its dedication to client service, two of the firm's brokers recently received Greater Louisville Association Commercial Realtor of the Year awards and the company has more SIOR designations than any other commercial brokerage company in the Louisville area.

"The addition of Harry K. Moore to our team represents an important step for Cassidy Turley. It demonstrates our continued commitment to deliver integrated, tailored solutions and maximum, measurable outcomes to our clients in this competitive marketplace," added Mark Burkhart.

Cassidy Turley is a leading commercial real estate services provider in the U.S., with 420 million square feet of managed space, 58 locations and $13 billion in completed transactions for 2009. Cassidy Turley is comprised of industry-leading firms in their respective markets that share a common vision and strategy.

CONTACT: Maureen Wheeler, Cassidy Turley, +1-202-463-1138, Maureen.Wheeler@cassidyturley.com;
 Suzanne Dawson, Linden Alschuler & Kaplan, Inc., +1-212-329-1420, sdawson@lakpr.com
Web Site: http://www.cassidyturley.com/