Sale-Leaseback an increasingly important strategy to raise capital amid recession and tight lending, says NAI Realvest executive

MAITLAND, FL– Slow economic recovery and tight lending environment have made sale-leaseback transactions an increasingly popular strategy to raise capital and focus a company’s resources on its core profit-making business, says one real estate expert.

Mez Birdie, (top right photo)  CCIM, director of retail services at NAI Realvest, in Maitland said “Companies make a higher return on capital in its core business compared to a lower return on owning real estate. Most companies have profit margins in double digits, while real estate returns are generally in single digits.”

“Real estate can’t earn a company the same sort of returns as its primary business,” Birdie also said. “By selling real estate, a company can reduce its debt, repurchase company stock, and focus its resources on core business lines, thus adding value to the company,” he added.

Birdie said sale-leaseback transactions today are far less rigid than in times past. “Sale-leaseback offers more flexibility than owning, as a company can structure the lease to suit its long or short-term needs.

A properly negotiated lease provide flexible lease terms, such as: right of lease termination by way of property substitution, right to purchase properties, right of first refusal to purchase and lease servicing programs.

 These flexibilities give a company the option to close or relocate poor locations,” he said.

Upcoming changes in Federal Accounting Standards Board (FASB) rules may impact sale-leaseback transactions, Birdie said.

 “On an after-tax basis, sale-leaseback transactions offer significant benefits, as lease payments are tax deductible. FASB rules apply to sale-leaseback transactions.

" To determine if the transaction qualifies as an ‘operating or capital’ lease, accounting and legal departments of the company play an important role in crafting a beneficial sale-leaseback transaction,” he explained.

For more information, contact:
Mez Birdie, CCIM, Director-Retail & Investment Services, NAI Realvest 407-949-0734, Mbirdie@realvest.com;
Patrick Mahoney, President and COO NAI Realvest, 407-875-9989, pmahoney@realvest.com;
Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

Cambridge Reports Loan Origination Requests Are Up for Second Consecutive Month

CHICAGO, IL--Loan origination requests were up for the second consecutive month but continue to trail last year’s totals through the first six months of the year, Cambridge Realty Capital Companies Chairman Jeffrey A. Davis (top right photo) reports.

In June, Cambridge processed 19 loan requests totaling $243.1 million, compared with 15 loans totaling $249.5 million during the same month last year. In the first half, the Cambridge staff reviewed 132 origination requests totaling $1.7 billion, compared with 145 loans for $2.1 billion a year earlier.

Davis points out that lenders close a relatively small percentage of loan requests received, but believes it’s useful to track this information as an indication of market directions.

“At this point we appear to be holding our own, but recent interest rate declines might logically be expected to encourage borrowers in the second half despite concerns that the economic recovery is not as robust as hoped for,” he said.

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

Orlando landscape architects take home statewide awards

 ORLANDO, Fla., August 3, 2010 — Four Orlando-based landscape architectural firms took home awards received recently at the annual design competition gala held in Gainsville, Florida, sponsored by the Florida Chapter of the American Society of Landscape Architects.

Foster Conant & Associates took home two Awards of Honor, one for St. Johns Town Center Phase II in Jacksonville in the commercial category, and one for Shenfu New Town Discovery Lake District in the Peoples Republic of China in the planning and analysis category.

Also taking home two awards was Canin Associates, for the Sanford-Burnham Medical Research Institute in Lake Nona, an Award of Honor in the institutional category, and an Award of Excellence in the research and communications category.

In the conceptual category, an Award of Honor was presented to Morris Architects/Morris Terra for Tianjin Aviation City Central District Master Plan in Tianjin, Peoples Republic of China.

MSI Design received an Award of Excellence for Jungala at Busch Gardens in Tampa.

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

W Hotels Worldwide Marks Another Milestone in Global Expansion

TAIPEI, Taiwan, Aug. 3, 2010 – Starwood Hotels & Resorts Worldwide, Inc. has announced the late 2010 opening of W Taipei, (top left photo) marking another milestone in W’s global expansion into the world’s most exciting and vibrant destinations.

Located in the buzzing central business district of Xinyi, W Taipei will introduce the “lifestyle hotel” concept to one of Asia’s hippest and most cosmopolitan cities, tapping into the pulse of Taipei’s nightlife scene, where the city’s music, fashion and entertainment industries converge.

“We are delighted to bring the W lifestyle to Taipei,” said Eva Ziegler (bottom right photo) , Global Brand Leader, W Hotels Worldwide and Le Méridien.

 “W Taipei will become the venue of choice for discerning and style-conscious trendsetters who want to be wowed by the finer things in life – particularly those inspired by W brand’s unique mix of contemporary cool design, modern comfort, and innovative style.”

Rising 30 floors, W Taipei will be the only hotel in Taipei with a panoramic vista of the hip and happening Xinyi district. W Taipei will serve as the ultimate city getaway, where a veritable “urban beach” flirts with the senses at every touch point and natural elements combine to complement modern digital accents.

W Taipei is owned by Uni-President Development Corporation and Times Square International Hotel Corp, a leading conglomerate with headquarters in Tainan.

For reservations and more information, please visit www.whotels.com/taipei.

Media contacts: Hwee Peng Yeo or Casey Shaughnessy-Gray at Glodow Nead Communications, (415) 394-6500 or HweePeng@GlodowNead.com

Re-Launched Holiday Inn Denver East-Stapleton Hotel Opens in Stapleton-Northfield Area of Denver

 DENVER, CO,  Aug. 3, 2010 -- The Holiday Inn Denver East-Stapleton hotel (www.holidayinn.com/denver-co) is centrally situated in one of Denver’s most dynamic communities, the Stapleton area.

With the iconic control tower as a monument to its historic past, the area has evolved into an eclectic blend of upscale residential communities, lifestyle amenities, charter schools and parks.

Shopping, entertainment and restaurants are within walking distance from the hotel and surrounding businesses.

 Located less than five miles east from the heart of downtown Denver, the centrally located Stapleton area is the largest expansion project in the Mile High City and nationally recognized as a vibrant and environmentally friendly community.

The hotel was renamed the Holiday Inn in March of 2010. The community was seeking a hotel brand compatible with the region’s development.

 “We are delighted and look forward to representing and working with a brand that has been at the hospitality forefront of customer service and guest satisfaction for fifty-eight years,” said Reggie Casselberry, general manager.


“Globally, IHG has been successful redesigning the Holiday Inn logo with a fresh and contemporary look. Keeping Kemmons Wilson, (bottom left photo)  founder of the Holiday Inn ‘America’s Innkeeper’ philosophy alive has been pivotal in establishing that 96% of Americans have stayed at the Holiday Inn.”

The hotel is decorated in hues that reflect Colorado’s vibrancy and energy. All patio guest rooms allow you to step out and enjoy panoramic views of the Rockies and the Denver skyline.

The Holiday Inn Denver East-Stapleton hotel guest rooms feature Sleep Number Beds, oversized work stations, data ports and comfortable seating designed for the business traveler. Complimentary Wi-Fi is found throughout the hotel.

For more information on the hotel, visit www.holidayinn.com/denver-co.

Contacts:
Julie Tullbane, Daly Gray, Inc., T 703-435-6293, F 703-435-6297, julie@dalygray.com
Reggie Castleberry, General Manager, PH: (303) 329-2707, Email: reggie.castleberry@ihrco.com

Marcus and Millichap Announces Promotions

Still Hunter III Moves to Senior Vice President Investments - Fort Lauderdale

FORT LAUDERDALE, FL – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Still Hunter III (top right photo)  to the position of senior vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. The designation represents excellence in the development and servicing of long-term client relationships, according to Gregory Matus, (top left photo)  regional manager of the firm’s Fort Lauderdale office.

Most recently, Hunter held the position of first vice president investments.

“Still has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Matus.

 “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as his peers.”

Hunter began his career with Marcus & Millichap 10 years ago, specializing in the sale of multifamily investment properties.

  Jamie A. Medress  Earns Senior Vice President Investments Post -- Phoenix

PHOENIX, AZ – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Jamie A. Medress (middle right photo)  to the position of senior vice president investments.

 This achievement is one of the highest levels of recognition the firm awards to its investment specialists. The designation represents excellence in the development and servicing of long-term client relationships, according to David A. Guido (middle left photo), regional manager of the firm’s Phoenix office.

Most recently, Medress held the position of first vice president investments.

“Jamie has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Guido.

 “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as his peers.”

Medress began his career with Marcus & Millichap 14 years ago, specializing in the sale of retail and net-leased investment properties.


Norman A. Eastwood Wins Senior Vice President Investments Position - Dallas  

DALLAS, TX – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Norman A. Eastwood (bottom left)  to the position of senior vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. The designation represents excellence in the development and servicing of long-term client relationships, according to Tim A. Speck, (bottom left photo) regional manager of the firm’s Dallas office.

Most recently, Eastwood held the position of first vice president investments.

“Norman has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Speck.

“He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as his peers.”

Eastwood began his career with Marcus & Millichap 23 years ago, specializing in the sale of multifamily investment properties.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Post Properties Announces Second Quarter 2010 Earnings

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced today a net loss attributable to common shareholders of $35.5 million, or $0.73 per diluted share, for the second quarter of 2010, compared to a net loss attributable to common shareholders of $50.7 million, or $1.14 per diluted share, for the second quarter of 2009.

The net loss attributable to common shareholders was $38.6 million for the six months ended June 30, 2010, compared to a net loss of $50.3 million for the six months ended June 30, 2009.

On a diluted per share basis, the net loss attributable to common shareholders was $0.79 for the six months ended June 30, 2010, compared to a net loss of $1.13 for the six months ended June 30, 2009.

The Company’s net loss attributable to common shareholders for the three and six months ended June 30, 2010 and 2009 included non-cash impairment charges of approximately $35.1 million and $76.3 million, respectively.

For the six months ended June 30, 2009, these charges were partially offset by a net gain of approximately $24.7 million on the sale of an apartment community, as well as gains of approximately $2.3 million relating to the early extinguishment of indebtedness, the mark-to-market of an interest rate swap, and changes in previous hurricane loss estimates.

For a complete copy of the company's news release and financials, please contact  pbutler@postproperties.com

Marcus & Millichap Facilitates Sale of Palm Gardens Apartments in New Port Richey, FL

NEW PORT RICHEY, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Palm Gardens Apartments (top left photo) , a 39-unit apartment building in New Port Richey, Fla, according to Greg Matus, Vice President/Regional Manager of the Fort Lauderdale office.

The property commanded a sales price of $500,000.

Senior Vice President Investments Evan Kristol and First Vice President Investments Still Hunter, III of the Fort Lauderdale office and Senior Associate Francesco Carriera (middle right photo)  of the Tampa office represented the seller of the property, a bank based in Kansas City, MO. Carriera secured the buyer, a private investor from Tarpon Springs, Fla.

“Despite the challenges in the market, with the vacancy over 20 percent and the hospital across the street from the property moving to a different location, we were still able to generate more than 15 offers due to our local, regional and national exposure,” says Carriera.

Palm Gardens Apartments consists of 11 buildings, all of which are one and two stories. The property is located at 5321 Beach Street in New Port Richey, Fla.

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

HFF closes sale of Class A multi-housing complex in Houston’s Upper Kirby neighborhood

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HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Alexan Upper Kirby (top left photo) , a 230-unit, Class A multi-housing community in Houston’s Upper Kirby neighborhood.

The HFF investment sales team was led by senior managing directors Craig LaFollette, (middle left photo) Todd Stewart and Todd Marix (lower right photo) , director Tre Banks and associate director Chris Curry, who represented the seller, Trammell Crow Residential. Invesco Real Estate purchased the property for an undisclosed amount.

Located at 2300 Richmond Avenue within Houston’s Inner Loop, Alexan Upper Kirby is close to Greenway Plaza, Highway 59, Rice University, The Texas Medical Center and the residential areas of West University and River Oaks.

 Completed in 2008, the 99% leased property has one- and two-bedroom units averaging 925 square feet each. Community amenities include a resort-style swimming pool, fitness center, billiards room and covered/gated parking.

“Alexan Upper Kirby’s spectacular quality, superb location, and strong cash flows led to a feeding frenzy and very aggressive pursuit by some of the multi-housing industry’s most recognizable investors,” said LaFollette.

Headquartered in Dallas, Trammell Crow Residential (“TCR”) is America’s premier multi-family real estate firm. TCR entities develop, construct and acquire multi-family rental and condominium communities of the highest standards.

Invesco Real Estate was established in 1983 and is focused solely on investment management with 13 offices around the world.

Contacts:

G. Craig LaFollette, HFF Senior Managing Director, (713) 852-3500, clafollette@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com


HFF closes sale of and arranges financing for The Retreat at Cinco Ranch in Katy, TX

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of and arranged financing for The Retreat at Cinco Ranch, (top left photo)  a 268-unit, Class A multi-housing community in Katy, Texas.

HFF senior managing directors Craig LaFollette, Todd Stewart (lower right photo)  and Todd Marix, director Tre Banks and associate director Chris Curry marketed the property on behalf of the seller, Allied Realty Services, Ltd. and GE Capital Real Estate.

JRK Property Holdings purchased The Retreat at Cinco Ranch for an undisclosed amount.

Working exclusively on behalf of the buyer/borrower, HFF managing director Tucker Knight (lower left photo)  placed the fixed-rate acquisition loan with Cornerstone Real Estate Advisors. The loan has a seven-year term and the first two years are interest-only.

The Retreat at Cinco Ranch is located at 3306 South Fry Road close to the Energy Corridor in Cinco Ranch, the preferred residential development in west Houston and the top-selling master planned community in the United States.

“The Retreat is simply the best combination of product and location in Cinco Ranch,” said LaFollette.

Allied Realty is a leading fully-integrated multi-family real estate investment, development, and property management firm. Headquartered in Houston, Texas, Allied Realty has been investing, developing and managing multi-family communities throughout the U.S. since 1985.

GE Capital Real Estate is a unit of General Electric (NYSE: GE) and is a leading global commercial real estate investment company.

JRK Property Holdings is a national owner and operator of commercial properties with a portfolio valued over $3.5 billion. JRK Property Holdings currently owns and manages approximately 42,000 multifamily units located in 27 states.

Contacts:

G. Craig LaFollette, HFF Senior Managing Director, (713) 852-3500, clafollette@hfflp.com
Tucker S. Knight, HFF Managing Director, (713) 852-3500, tknight@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Grubb & Ellis Healthcare REIT II Acquires Pocatello East Medical Office Building in Idaho

POCATELLO, ID (Aug. 2, 2010) – Grubb & Ellis Healthcare REIT II, Inc. has acquired a 98.75 percent interest in Pocatello East Medical Office Building, a four-story, 76,000-square-foot, Class A multi-tenant facility in Pocatello. The acquisition closed on July 27.

Located at 777 Hospital Way, Pocatello East Medical Office Building is attached to the 250-bed Portneuf Medical Center, (top left photo)  the only acute care facility within 50 miles. A significant renovation and expansion project is currently underway that will add an additional 300,000 square feet to the medical center in mid-2011.

“We believe the acquisition of Pocatello East Medical Office Building is a home run for Grubb & Ellis Healthcare REIT II,” said Danny Prosky (middle right photo), president and chief operating officer.

“It is physically attached to the region’s largest medical center, (which is expanding), it is only three years old, and it is fully leased through 2018, providing the REIT with steady and accretive income that supports our stockholder distribution.”

Built in 2007, the property is 100 percent leased to Pocatello Health Services, LLC and Pocatello Hospital, LLC. Both tenants are signed to long-term leases through 2018 and 2019, respectively.

Philip J. Camp and Laca Wong Hammond of Shattuck Hammond Partners represented the seller, an unaffiliated third party, in the transaction.

Grubb & Ellis Healthcare REIT II financed the acquisition using cash proceeds received from its offering and $5,000,000 in borrowings under its line of credit with Bank of America, N.A.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com

Grubb & Ellis  Enhances Real Estate Services Platform with Senior Housing Practice Group

SAN DIEGO, CA (Aug. 3, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Alan J. Ursillo (lower left photo)  has joined the company as executive managing director, Senior Housing practice group.

Ursillo joins from BRE Commercial, where he specialized in the sale of senior housing and investment properties throughout California and nationally.

Ursillo will lead the expansion of the company’s capabilities and commitment to provide fully integrated real estate services platform for clients in senior housing sector.

“As the number of adults over the age of 65 grows, the demand for senior housing as a real estate investment will continue to increase,” said Greg Coxon, president, Brokerage Services. “Alan’s addition to our team greatly enhances our ability to support our clients as they seek to capitalize on the opportunities in the senior housing sector.”


Contacts:

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

Grubb & Ellis Recruits Four-Person Retail Team from Brick & Mortar Commercial

SAN FRANCISCO, CA (Aug. 2, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that the principals of Brick & Mortar Commercial and their two associates have joined the company to lead the growth of Grubb & Ellis’ retail capabilities in San Francisco, Marin County and the San Francisco Peninsula.

 The team includes Kenneth Brownell (top right photo)  and Peter Mikacich (top left photo) , both senior vice presidents, as well as Cameron Baird,(middle right photo)  vice president, and Shaun Bloomquist (middle left photo), senior associate.

Their addition is consistent with Grubb & Ellis’ strategy to substantially upgrade the company’s capabilities throughout the region.

 Since hiring Mark Geisreiter (bottom right photo) as executive vice president, managing director, in February 2009, the company has recruited 28 professionals and added new product lines, including Management Services, Debt & Equity Finance, Hospitality and Project Management.

“Ken, Pete and their team have earned an outstanding reputation by combining their commitment and dedication to clients with their extensive knowledge of the local retail markets.

" Ken and Pete represent the types of senior professionals we are actively recruiting as we expand our presence in the Bay Area; they are great brokers and great individuals,” Geisreiter said.

 “We anticipate considerable growth in our local Retail Group and they will provide the right foundation from which to build.”

Brownell joins the company with more than 35 years of experience.

 Prior to forming Brick & Mortar Commercial in 2007 with Mikacich, he spent 32 years with Blatteis Realty Company in the position of president.

He has devoted his entire career to the retail sector and transactions include Crunch Fitness, Walgreens, Talbots, Wells Fargo Bank, Smart & Final, Sterling Bank & Trust, Baskin Robins, See’s Candies, Goodwill Industries, Puma and Bebe.

 Brownell earned both bachelor’s and master’s degrees from University of California, Berkeley. He is a member of the International Council of Shopping Centers, as well as San Francisco Real Estate Exchange.

Prior to founding Brick & Mortar Commercial, Mikacich spent 13 years with Blatteis Realty Company, where he was one of the company’s top producing professionals nine times.

Baird joined Brick & Mortar in 2007 as senior vice president, where he focused on the real estate needs of bar and restaurant clients.

In the past 18 months, he has represented clients in more than 50,000 square feet of real estate transactions. He began his professional career in the retail industry with Sprint PCS, assisting the company in launching the Spring PCS Wireless Web throughout Arizona. He holds a bachelor’s degree from Arizona State University

Bloomquist began his career in commercial real estate in 2009. He holds a bachelor’s degree from Santa Clara University.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

37 New Condos Sell Per Month In Sunny Isles Beach In 2nd Quarter

MIAMI, FL--Buyers acquired 111 new condo units in Sunny Isles Beach in the second quarter of 2010, and in the process reduced the unsold developer inventory to 20 percent, according to a new Condo Vultures® White Paper™.

Buyers paid $102.2 million, or $475 per square foot, for 215,100 square feet of livable space in six new towers that have been built since 2003, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Sunny Isles Beach™.

Less than 1,300 new developer units now remain unsold out of nearly 6,350 units developed - or still under construction - in Sunny Isles Beach in the last seven years, according to the report based on Miami-Dade County records.

"At this current pace of about 110 new condo sales per quarter, Sunny Isles Beach's new inventory could all be sold in a year or so even though there is no financing available," said Peter Zalewski,(lower right photo)  a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "It goes without saying that Sunny Isles Beach has state-of-the-art condo product with attractive designs and oceanfront locations. That being said, a major reason for Sunny Isles Beach's success is the high prices still being achieved for new condos in South Beach."

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

Orange County, FL Resort Tax Collections in June Higher than Same 2009 Period

 ORLANDO, F -- County Comptroller Martha Haynie (top right photo)  announced today that resort tax collections received by the County for the hotel collection month of June 2010 were $13,355,200. Resort taxes are charged on short-term rentals, mostly hotels and motels.

Comptroller Haynie noted that June 2010 collections were nine percent higher than June

2009. “It’s good to have numbers to smile about,” Haynie stated.
 
For a complete copy of the news release and monthly statistics, please contact Martha O. Haynie, (407) 836-5690.

$160M acquisition financing for Washington Harbour in Washington, DC arranged by HFF

WASHINGTON, DC. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $160 million in financing for Washington Harbour, (top left photo)  a Class A, two-building, mixed-use development on the Potomac River in Washington, D.C.

Working exclusively on behalf of Rockpoint Group and MRP Realty, HFF senior managing directors Bill Asbill (middle left photo) and Bob Donhauser (lower right photo)  and managing director Cary Abod (lower left photo) secured the five-year, fixed-rate loan with MetLife Real Estate Investments.

Washington Harbour is located at 3000 and 3050 K Street NW directly on the Potomac River in the Georgetown submarket of Washington, D.C.

 The property has two towers totaling 532,601 square feet; 456,376 of office space and 76,225 square feet of retail space. Washington Harbour is 86% leased to more than 20 tenants, the largest of which are law firms Foley & Lardner and Kelley Drye & Warren.

On-site amenities include a two-story, 489-space underground parking garage and a fitness center.

Rockpoint Group, L.L.C. is a global real estate investment management firm with offices located in the U.S., Europe and Asia.

Rockpoint targets a broad range of real-estate related investments across all asset classes and geographic regions, with particular focus on value creation and distressed/restructuring opportunities.

The firm invests primarily on behalf of public and private pension funds, endowments and financial institutions.

Contacts:

Robert F. Donhauser, HFF Senior Managing Director, (202) 533-2500, bdonhauser@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com


HFF closes $8.275M sale of Publix-anchored retail shopping center in Atlanta, GA

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Duluth Station, a 94,966-square-foot, Publix-anchored retail shopping center in Atlanta, Georgia.

HFF director Jim Hamilton (middle right photo) led the investment sales team on behalf of the seller, L&B Realty Advisors, LLP. Forge Capital Partners purchased the property for $8.275 million free and clear of debt.

Duluth Station is situated on a 14-acre site at 2750 Buford Highway in Atlanta. The property is 79% leased to tenants including Publix, Great Clips, H&R Block, Kauffman Tire, Kumon Learning, State Farm and Subway.

“The property is situated in one of the most affluent suburban locations in the Atlanta MSA and offers the new owner significant upside opportunity in leasing the remaining vacant suites,” said Hamilton.

L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor.

Since 1965, L&B has provided real estate investment management services to institutional investors and high-net-worth individuals. With $3.6 billion under management and over 40 years experience, L&B has a proven track record of successfully acquiring, managing, and disposing real estate on behalf of our clients.

Forge Capital Partners is a diversified, commercial real estate investment and investment management company. The company carries out its business strategy by sponsoring real estate-oriented private equity funds and through an affiliated group of companies, which include: Forge Capital Management, Forge Property Management, Forge Development Group, and Forge Real Estate Services.

Contacts:

Jim R. Hamilton, HFF Director(404) 942-2212    jhamilton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500  krmurphy@hfflp.com

HFF arranges $9.85M financing for Syracuse, NY hotel

NEW YORK, NY – The New York and Dallas offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have arranged $9.85 million in financing for the 279-room Renaissance Hotel (bottom right photo)  in Syracuse, New York.

HFF senior managing director Jay Marshall (lower right photo)  and director Brian Carlton (lower left photo)  worked exclusively on behalf of the borrower, a joint venture between Richfield Hospitality, Inc. and Shelbourne Falcon Investors, to secure the five-year, fixed-rate loan through Lydian Private Bank.

Loan proceeds are being used to acquire the hotel and rebrand it to a Crowne Plaza.

Located at 701 East Genesee Street, the hotel is one half mile north of the Syracuse University Campus adjacent to Interstate 81 in downtown Syracuse.

 The 20-story property will undergo a $5 million renovation that will include updates to guest rooms, public spaces and the exterior of the hotel. Hotel amenities include 12,235 square feet of meeting space, a lounge, fitness center, business center and Redfield’s Restaurant.

Richfield Hospitality, Inc. is a leading hotel management company with a premier track record of maximizing profitability and improving asset values for hotel owners. Richfield and its affiliates offer proven solutions and expertise to approximately 500 hotels and resorts.

 Based in Denver, Richfield is part of City Developments Limited, one of the world's largest real estate, hotel investment and technology conglomerates with a market capitalization exceeding US$6 billion. www.richfield.com.

Shelbourne Falcon Investors is a joint venture partnership between Shelbourne Capital (www.shelbournecap.com) of Radnor, Pennsylvania, and Falcon Investors (www.falconinvestors.com) of Harrison, New York.

Shelbourne Falcon Investors specializes in hospitality-sector real estate investments across the United States.

Contact:

Jay B. Marshall, HFF Senior Managing Director, (212) 245-2425, jmarshall@hfflp.com
Brian G. Carlton, HFF Director, (214) 265-0880, bcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com