$63 Million in Investment Sales Closed by Marcus & Millichap in New York City

NEW YORK, N.Y., Aug. 5, 2011 – Peter Von Der Ahe (top right photo) of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of four prime properties – two of which are pride-of-ownership assets – in New York City totaling $63.45 million during the first half of 2011.

Von Der Ahe, a vice president investments in Marcus & Millichap’s Manhattan office, “The first half of 2011 has seen many Manhattan multifamily sales and contract signings. This accelerated pace can be largely attributed to the low cost of capital, as well as the growth in residential rents and increases in employment.”

 In Manhattan, Von Der Ahe worked with senior associate Joseph Koicim (top left photo) and associates David Lloyd to negotiate the sale of 220 Park Ave. South (middle right photo) for $20 million.

 Located at the corner of Park Avenue South and 18th Street, 220 Park Ave. South has 37 residential units, most of which are studios and one-bedrooms. The 33,638-square foot, nine-story asset also includes four two-bedroom duplex penthouse apartments and one 2,650-square foot retail space currently occupied by Japanese restaurant Haru.

 “This building presents the new ownership with many future redevelopment opportunities, including conversion to condos,” says Von Der Ahe. “In this particular submarket, property owners have commanded north of $1,300-plus per square foot for newly constructed condominiums.”

“Foreign investors, funds and a wide array of private investors are interested in Manhattan commercial real estate opportunities,” adds Koicim. “Furthermore, this pride-of-ownership building will only continue to appreciate in value, making this an excellent long-term investment.”

In another example of a trophy-building sale, Von Der Ahe brokered the $33 million sale of the Henry T. Sloane Mansion (middle left photo) located at 18 East 68th St. on Manhattan’s Upper East Side. 

The property has limestone facades, 17-foot ceiling, seven granite fireplaces and a marble staircase.  An elevator provides access to all floors and to the rooftop gardens overlooking Central Park.

 Von Der Ahe marketed the property along with associates Scott Edelstein and Seth Glasser.

“The Henry T. Sloane Mansion is one of New York City’s great homes,” says Von Der Ahe. “It is a classic Beaux Arts-style mansion that could be converted to a single-family home or repurposed as a diplomatic embassy or as an art gallery.”

Further uptown, Von Der Ahe arranged the $8.05 million sale of 203 West 107th St (lower right photo)., a 34,514-square foot, nine-story building with 28 residential units.

“The property received extensive capital improvements, which were major factors in the buyer’s decision to acquire the property. The property was essentially a turn-key asset with significant upside,” says Edelstein.

In an example of the strong demand for multifamily assets in burgeoning Manhattan neighborhoods, Von Der Ahe closed a $2.4 million sale in Chelsea. 308 West 22nd St. is a four-story multi-unit townhouse property that consists of eight one-bedroom apartments with an average rent of $1,543. The property is situated a 20-foot by 99-foot lot.

“This transaction highlighted a perfect example of how the market caught up to the asking price of the building,” says Lloyd. 

“Several investors bid on this asset in an effort to acquire a quality building in Chelsea, and we were able to help the seller select the right candidate, which resulted in a smooth closing,” adds Von Der Ahe.

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

Marcus & Millichap Names Gene A. Berman Executive Vice President

  

 FORT LAUDERDALE, FL –The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Gene A. Berman (top right photo) executive vice president, one of the highest honors the firm bestows on its managing directors. Most recently, Berman held the title of senior vice president.

            “Gene’s proven leadership abilities, his dedication to supporting the firm’s investment professionals through mentorship and training, and his extensive knowledge of the investment brokerage market have earned him this title,” says John J. Kerin (lower left photo), president and chief executive officer.

“He has proven to be a dominant force in some of the country’s biggest markets, including the Greater Los Angles Area, South Florida and the Northeast. For instance, Gene was instrumental in the expansion of our presence in the state of Florida, positioning Fort Lauderdale as one of our firm’s top-producing offices,” adds Kerin.

Berman began his career at Marcus & Millichap in 1982 as an agent in the Encino office.  He was designated a senior investment associate in 1987. In 1996 he left his sales career for a new challenge: relocating to Fort Lauderdale, Fla., to open the office as its regional manager.

 In 1997 Berman was promoted to vice president and in 2001 he earned the title first vice president.  He received the Regional Manager of the Year designation in 2001, and a year later was elected a senior vice president one year later.

Berman was elected a managing director of the firm in 2005, a position he continues to hold. In 2007 he accepted the responsibility for overseeing the company’s Florida offices; in 2008 he began to oversee its Texas offices and in 2010 he accepted responsibility over the Northeast offices. In all, Berman currently oversees 20 offices nationwide.

 Berman received a Bachelor of Arts from the University of Southern California. He received a Juris Doctor in 1981 from Southwestern University School of Law.

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

Smith Equities and CMB Realty Broker Sale of Shopping Center near University of Central Florida in Orlando

ORLANDO, FL (Aug. 5, 2011) – Orlando-based Smith Equities Real Estate Investment Advisors and CMB Realty announced the sale of University Shoppes (aerial photo top left) shopping center to an undisclosed all cash buyer.

 Located on approximately 14 acres of land at the northwest corner of

University Boulevard and Alafaya Trail the site is opposite the main entrance to University of Central Florida which is part of the university system of the State of Florida.

University Shoppes was built in the late eighties by Craig Bayhi when the area had a rural flavor and UCF was a medium size university. Since that time UCF has expanded to be the second largest university in the country at just over 56,000 students.

The seller was M&H University Shoppes, LLLP. The seller was represented by Craig Bayhi of CMB Realty and the undisclosed buyer was represented by Paul Guyet (lower  right photo), the student housing specialist at Smith Equities Real Estate Investment Advisors, in this sale.

Contacts:

Paul M. Guyet

Student Housing Specialist

Smith Equities Real Estate Investment Advisors

350 East Pine St

Orlando, FL 32801

Tel: (407) 422-0704 X 105

Fax: (407) 422-0705

Email: pguyet@smitheq.com

SEREIA Websites: www.SmithEq.com

 www.MyRentComps.com

Craig M. Bayhi, 407‐321‐6299

 craigbayhi@earthlink.net

  

Charles Dunn Co. Completes $4.22 Million Sale of 18-Unit, Multifamily Property in Los Angeles

 LOS ANGELES, CA– Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed the $4.22 million sale of an 18-unit multifamily property that was built in 2002 and is located at 821 Wilcox Ave. (top left photo) in Los Angeles.

Michel Hibbert (middle right photo) of Charles Dunn Company represented the Los Angeles-based buyer, 821 Wilcox Avenue, LLC in the transaction.

The seller was Sherman Oaks, Calif.-based 821 Wilcox LLC who was represented by David Meir of KW Commercial. Earlier this month, Hibbert sold the sister property (813 Wilcox Ave) located next door and purchased by the same buyer.

“The southern section of Hollywood is a great location for multifamily property as rents are continuing to climb as vacancies decline,” said Hibbert. “The Wilcox neighborhood has seen extensive re-development over the past year or so, which provides an investor to opportunity to purchase now in an improving locale.”

The unit mix consists of 14 two-bedroom/two-bathroom units with monthly rents ranging from $1,600 to $1,800; two, two-bedroom/two and a half bathroom units with monthly rents ranging from $1,890 to $1,936 and two, two-bedroom/two and a half bathroom townhouse units with monthly rents at $2,200.

Features of the property include: central heat and air conditioning, balconies, fireplaces, an elevator, laundry facilities and secured entry and parking.

Contact: Darcie Giacchetto, D.G. Communications, Inc., 949.278.6224

www.charlesdunn.com

Colliers Finds U.S. Office Market Recovery Modest and Fairly Volatile

SEATTLE,  WA, Aug. 4, 2011 /PRNewswire-USNewswire/ -- The U.S. office market boasted modest improvements in total net absorption and vacancy rates during the second quarter, according to a new research report on quarterly activity in the U.S. office market from Colliers International.

 The core, gateway cities outperformed the national market as a whole, continuing the overall positive momentum that has been building since last summer.

However, slower-than-anticipated recovery in the national economy, concerns about the debt ceiling prior to reaching the recent agreement, and a sudden halt in job creation have restrained demand for office space.

According to Colliers International's Second Quarter 2011 North America Office Highlights report, the U.S. office market recovery will likely continue to be uneven in nature and fairly volatile.

New York, Washington, D.C., San Francisco and Seattle are the clear leaders in terms of demand, buoyed by educated workforces and further reductions in new construction starts, limiting supply. Yet Boston, Dallas, Denver, Houston, Philadelphia, Raleigh, San Diego, San Jose and West Los Angeles are all seeing modest gains in occupancy.

Office vacancy rates were essentially flat overall, dropping just slightly quarter over quarter to 15.28 percent. National Central Business District (CBD) vacancy was healthier at 13.84 percent compared with the suburban markets at 16.00 percent.

Meanwhile, the U.S. registered 9.9 million square feet of positive net absorption, the fifth consecutive quarter of rising occupancy, with a flight to quality particularly evident in many markets.

  

The nearly 10 million square feet was a significant improvement from the first quarter, when occupied space increased by only 4.2 million square feet, and slightly more than twice the absorption recorded a year ago when occupied space expanded by 4.9 million square feet.

After a small increase in the first quarter, both CBD and suburban rents drifted lower in the most recent three-month period. Second-quarter data shows Class A CBD rents decreased by 1.5 percent to average $38.98 per square foot, with Class A suburban rents dropping 0.7 percent to average $26.06 per square foot.

 Somewhat positive is the seventeen-month-long gain in private-sector employment, although recent data shows a slowdown in that part of the labor market as well.

 One bright spot remains: office-using employment was reasonably strong during the April-June period, highlighted by professional and business employment in particular, up 2.9 percent year-over-year (June).

Taking the various economic factors and real estate fundamentals in total, widespread rent increases are unlikely to occur this year and may not materialize until well into 2012.

"The national office market has been improving overall, and though the recovery has slowed of late, the long-term indicators are strong," said Dylan Taylor (top right photo), chief executive officer for Colliers International in the U.S.

"Gateway cities like New York, Washington, D.C. and San Francisco continue to drive the national real estate sector, with absorption gains strongest in those markets and a feverish appetite among investors from around the globe looking to acquire assets in these urban markets."

"The national real estate market was in the midst of a modest recovery, but recently hit an unexpected soft patch," said Ross Moore (top left photo), chief economist for Colliers International.

"The most pressing question we face is how long the slowdown will last. There are many economic variables at work, both nationally and overseas, impacting the U.S. market."

Additional highlights from the full research report, which analyzed the sixty-two largest office markets in the nation, are listed below:

• The largest year-over-year percentage increases in average asking rents
• were reported by Charleston (19.8%), San Francisco (10.8%), Manhattan's
• Midtown South (9.3%), Washington, D.C. (7.7%) and Seattle/Puget Sound
• (7.4%).
• San Jose, Dallas, Atlanta, San Diego, San Francisco Peninsula, Denver,
• Houston and Raleigh/Durham were the Q2 leaders in suburban market
• absorption.
• Continuing a trend seen over the past few quarters, Class A buildings
• continued to attract "move-up" tenants: Class A absorption totaled 8.5
• MSF, or nearly 86 percent of overall absorption.

• After a modest increase in Q1, second-quarter office completions totaled
• just 3.9 MSF--returning to levels recorded during Q4 2010. Construction
• underway increased by almost 4.7 MSF relative to Q1, with 30.4 MSF in
• various stages of development at the end of Q2, although construction
• activity remains exceptionally low by historic standards.

Additional data and research are available in the full report.

CONTACT: Richard Mulieri, The Marino Organization, +1-212-889-0808, Richard@themarino.org; Russ Colchamiro, The Marino Organization, +1-212-889-0808, Russ@themarino.org

Web Site: http://www.colliers.com/

NAI Realvest Brokers Sale of Ormond Beach, FL Development Site for a New Tire Kingdom

 ORLANDO, FL – NAI Realvest recently negotiated the purchase of a 1.25-acre retail development site for a new Tire Kingdom store on Williamson Boulevard north of San Marco Drive in Ormond Beach. 

NAI Realvest principals Kevin O'Connor  (top right photo) and Matt Cichocki (lower left photo)  brokered the transaction on behalf of the Charlotte, N.C.-based buyer, Pavilion TK-Ormond LLC, who paid $525,000 for the retail parcel.   Williamson Blvd. Investments, LLC of Ormond Beach is the seller.

 The buyer will be developing a 7,000 square foot Tire Kingdom store on the property.

  

This is the tenth Central Florida Tire Kingdom location secured by the NAI Realvest team of Cichocki and O’Connor.

For more information, contact: 

Kevin O’Connor or Matt Cichocki, Principals NAI Realvest, 407-875-9989 koconnor@realvest.com  or  mcichocki@realvest.com;   

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com;  

Beth Payan or Larry Vershel, Larry Vershel Communications, Inc.  407-644-4142  

When Asking for Money, Senior Housing and Healthcare Borrowers Must be Prepared to Provide Needed Information, Expert Suggests

CHICAGO, IL--In a tight credit market, it’s inevitable that lenders will sometimes be forced to give borrowers news they’d rather not hear.

For example, no one wants to hear that capital sources they have been able to rely on in the past are no longer an option. Or that lenders have tightened underwriting standards and are now offering less on the appraised value of the property.

Another type of bad news borrowers may receive is that their lender will need even more descriptive information and data than already has been provided.

Cambridge Realty Capital Companies Senior Vice President Sampada D’silva (top right photo) says borrowers seeking capital in today’s marketplace must be prepared to thoroughly explain their business plans and motives. The need lenders have for information may seem insatiable at times.

Cambridge is one of the nation’s leading senior housing/healthcare lenders, with more than $3 billion in closed transactions over the past 15 years. The company has consistently ranked among the nation’s leading FHA-approved HUD lenders.

In the current cycle, popular HUD 232 financing has emerged as the lending product of choice for senior housing/healthcare borrowers. With these loans there is effectively a two-tiered underwriting process -- by the FHA-approved HUD lender initially, and later by HUD during the application approval process.

With HUD struggling to keep pace with a tsunami of loan applications, the timetable for processing loans has slipped, which exacerbates the underwriter’s need to move forward with current information, D’silva said.

For the lender, the primary underwriting concerns are the historical cash flow of a facility and occupancy. Typically, 12 months of trailing financials are needed, and occupancy must be at acceptable standards defined by HUD.

Up until the time the application is submitted, financial and occupancy data must be monitored and updated with the most recent trailing 12 months numbers to support the loan request.

D’silva says a debt service coverage ratio for the property should be met. And there should be an upward trend for these numbers as well as for occupancy.

  

If a state survey result shows any deficiencies, a plan of correction must be submitted. Proof of insurance that meets HUD standards must also be presented.

To guide borrowers, some lenders post a checklist of documents needed by underwriters. It is important to submit the requested information in the most timely way possible, she said.

Contact:

Evan Washington

Phone: (312) 521-7604

Fax: (312) 357-1611

E-Mail:  ew@cambridgecap.com

Cousins Reports Results for Second Quarter of 2011

ATLANTA, GA --  Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the quarter ended June 30, 2011.

“This was another solid quarter with continued leasing momentum,” said Larry Gellerstedt (top right photo), CEO of Cousins. “We’re seeing an overall increase in investment opportunities and are particularly excited about our Emory Point mixed-use development.”

Highlights:

• Funds From Operations (FFO) of $0.11 per share.
• Commenced Emory Point mixed-use project.
• Leased 424,000 square feet of office and retail space.

For a complete copy of the company’s news release and financials, please contact:

Gregg D. Adzema, Executive Vice President and Chief Financial Officer

404-407-1116, greggadzema@cousinsproperties.com

or

Cameron Golden, Director of Investor Relations and Corporate Communications

404-407-1984, camerongolden@cousinsproperties.com

New Condo Sales Near $4 Billion In Sunny Isles From Boom Years

MIAMI, FL--The South Florida condo boom has generated nearly $4 billion in developer sales of newly created units in the barrier island city of Sunny Isles Beach as of June 30, 2011, according to a new report from CondoVultures.com.

Between 2003 and the second quarter of 2011, developers have sold more than 5,500 condos in the Northeast Miami-Dade County city of Sunny Isles Beach for a total of $3.96 billion, according to an analysis based on the Condo Vultures® Official Condo Buyers Guide To Sunny Isles Beach™.

Despite the sales velocity, more than 850 condos still remain unsold in Sunny Isles Beach as of the end of the second quarter of 2011, according to an analysis of Miami-Dade County records.

"The South Florida condo boom changed the landscape of Sunny Isles Beach forever," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "Sometime in the third quarter of 2011, developer sales should surpass $4 billion in transactions to move the Sunny Isles Beach market that much closer to selling out the massive amount of inventory created during the most recent go-go period of condo construction in South Florida.

”Once the developer inventory overhang is finally absorbed, the Sunny Isles Beach market will enter a new phase in its maturation process."

CondoVultures.com is scheduled to profile the latest condo trends in the second quarter of 2011 in the seven largest coastal markets in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties.

 

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.

Second-Quarter 2011 Operating Results Announced by National Retail Properties Inc.

ORLANDO, FL,  Aug. 4, 2011 – National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced operating results for the quarter and six months ended June 30, 2011.

National Retail Properties also announced increased 2011 FFO guidance of $1.50 to $1.53 per share before any impairment expense and estimated AFFO to be $1.64 to $1.67 per share.

The change in guidance is primarily related to projected volume and timing of property acquisitions. This guidance equates to net earnings before any gains or losses from the sale of real estate of $0.91 to $0.94 per share plus $0.59 per share of expected real estate depreciation and amortization.

The guidance is based on current plans and assumptions and subject to risks and uncertainties more fully described in this press release and the company’s reports filed with the Securities and Exchange Commission.

Craig Macnab (top right photo), Chief Executive Officer, commented: “Operating results and acquisition activity have been encouraging in

the first half of 2011 and visibility for the second half looks solid.

 “We were pleased to complete capital markets transactions during the second quarter that will provide additional capacity to fund acquisitions and reduce our debt costs.

“ More recently, we were very glad to announce an increase in our third quarter dividend which will pave the way for 2011 to be the 22nd consecutive year in which the annual dividend per share has increased.”

For a complete copy of the company’s news release and financials, please contact  Kevin B. Habicht, Chief Financial Officer, (407) 265 7348

NAI Realvest Negotiates New 5.5-Year Lease of 5,473 SF of Class A Office space in Maitland, FL

MAITLAND, FL --- NAI Realvest recently negotiated a 5.5-year lease agreement for 5,473 square feet of Class A office space at 2200 Lucien Way in Maitland.

 Mary Frances West (top right photo), CCIM NAI Realvest Senior Broker Associate and Tom. R. Kelley (lower right photo), CCIM, a principal in the firm, negotiated the transaction representing the landlord Alliance Lucien Way, Inc. based in Warrington, Pa
.  

 

 The new tenant, Workstream USA, Inc. is a local management consulting firm that helps companies cost-effectively maximize workforce productivity.

For more information, contact

Mary Frances West CCIM, NAI Realvest, 407-875-9989 mwest@realvest.com;  or

Tom R. Kelley II CCIM, Principal, NAI Realvest, 407-875-9989, tkelley@realvest.com;

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

  

NAI Realvest Negotiates Four Leases totaling 20,834 SF at Goldenrod CommerCenter in Orlando

 MAITLAND, FL – NAI Realvest recently negotiated four lease agreements for a total of 20,834 square feet of industrial space at the Goldenrod CommerCenter (top left photo).

 Michael Heidrich, a principal in the firm, brokered all four transactions on behalf of the landlord, COP-Goldenrod, LLC of Maitland.

Central Florida Indoor Sports Center leased 12,216 square feet for three years and two months; Green Planet Landscaping & Irrigation, Inc. leased 4,412 square feet for two years; Calderon Automotive Repair Services, Inc. leased 2,206 square feet for three years, one month and Carl’s Tropical Tint renewed its lease of 2,000 square feet for two years.

Goldenrod CommerCenter located at 1460-1476 N. Goldenrod Rd. in Orlando is currently 90 percent leased. 

For more information, contact

Michael Heidrich, Principal, NAI Realvest 407-875-9989 or mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

NAI Realvest Principal Michael Heidrich Optimistic About Real Estate Market, Sees Jump in Leasing Over Past Six Months

MAITLAND, FL. – Michael Heidrich (top right photo), principal and vice president at NAI Realvest in Maitland, is optimistic about the future of commercial real estate in the Central Florida region.

 Heidrich, who joined NAI Realvest 21 years ago and focuses on land sales and industrial properties, has a broad view of the Central Florida market: all told, he has brokered more than 2,500 property sales and leases valued at more than $750 million.

 Since Jan. 1 of this year, Heidrich has brokered 47 property sales and lease agreements that total some $8,205,000 including industrial building sales that total almost $5 million.   

But it’s leasing activity that has Heidrich’s attention now.

 “I think we’re seeing an increase in property leasing right now, Heidrich said. “We’ve been waiting for it because the economic cycle has created significant pent-up demand in the industrial sector and to some extent in office and retail as well,” he said.

 Over the past 60 days, Heidrich said leasing activity has picked up.

For more information, contact

Michael Heidrich, Principal, NAI Realvest 407-875-9989 or mheidrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Hines Completes Two Major Transactions at Atlanta Financial Center in Buckhead, GA

ATLANTA, GA - The Atlanta office of Hines, the international real estate firm, announced today it has executed two major tenant lease expansions and extensions in Atlanta Financial Center.

 The transactions, one with a premier Atlanta law firm and the other with a well-respected financial advisory firm, bring the occupancy of Atlanta Financial Center (top left photo) to nearly 85%.

 Located in the heart of Buckhead, the 904,499 RSF, 3-building complex is one of the most recognizable in all of Atlanta. Location in Atlanta's financial district, superior amenity offerings, and improvements to the project's common areas, coupled with the strength of sponsorship, have enabled the Atlanta Financial Center to capture more than its market share of absorption during the severe economic downturn.  

Morris Manning & Martin, LLP, the international law firm, has signed a fifteen (15) year lease extension which includes an expansion of Morris Manning & Martin's occupancy in the complex to a total of 118,281 square feet.

  SunTrust Robinson Humphrey, Inc., the national, full-service corporate and investment banking firm, has signed a lease amendment to expand into an additional 137,596 square feet of space, increasing their total occupancy in the complex to 229,894 square feet.  SunTrust Robinson Humphrey's lease term will be re-set to nearly eleven (11) years.

Morris Manning & Martin was represented in lease negotiations by Gannon Shepherd and Duncan Gibbs of Jones Lang LaSalle. 

SunTrust Robinson Humphrey was represented in lease negotiations by Dom Wyant, Brad Armstrong and Chris Wagner of Jones Lang LaSalle.  Hines was self-represented by John Heagy, Tori Kerr, Brian Eichenseer and Scott Martin.

 "The Atlanta Financial Center has been a great location for us. We are excited this process has worked out so well," said Louise M. Wells (lower right photo), Managing Partner of Morris, Manning & Martin. 

"With key practice areas that include, among many others, commercial real estate, commercial finance, corporate technology, and energy and infrastructure finance, as well as having daily interaction with leading financial institutions, we are well-suited to be located in the 'financial center.'"

Contact:

Laura Dudebout

O: 404.965.5023

C: 678.642.4301

ldudebout@wilbertnewsstrategies.com

MBA Reports Second Quarter Commercial/Multifamily Mortgage Lending Up 107 Percent from Last Year; Up 52 Percent from First Quarter 2011

  

 Washington, DC (Aug. 4, 2011) - Second quarter 2011 commercial and multifamily mortgage loan originations were 107 percent higher than during the same period last year and 52 percent higher than  the revised figures for the first quarter of 2011, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

 "Commercial/multifamily mortgage borrowing and lending continues to rise from the depths of 2009 and 2010," said Jamie Woodwell (top right photo), MBA's Vice President of Commercial Real Estate Research. 

"Greater stability in property fundamentals and prices, and an improving sales market, are providing greater clarity for borrowers and lenders alike. 

“Property values and interest rates - coupled with job growth, consumer spending, household growth and other macro-economic trends that drive demand for commercial real estate - will be keys to how property owners seek and qualify for mortgage financing going forward."

 For a complete copy of the company’s news release, please contact

Matt Robinson,  (202) 557-2727 mrobinson@mortgagebankers.org