Sunday, February 24, 2008

Marcus & Millichap Facilitates Sale of Zaxby's Restaurant in Orange City, FL

ORANGE CITY, FL – Marcus & Millichap, the nation’s largest real estate investment services firm, has announced the sale of Zaxby’s, (photo top right) a 3,159 square foot net leased restaurant, according to Greg Matus, Regional Manager of the firm’s Orlando office.

The asset commanded a sales price of $1,665,900. Sales Agents Kevin Yaryan and Patrick Skinner had the exclusive listing to market the property on behalf of the seller, Ansby Properties, LLC, as well as securing the buyer, EBK ZOC, LLC and EBKT ZOC, LLC.

The property on 949 Saxon Boulevard in Orange City, FL, was built in 2004 and is conveniently located just off of I-4 between Orlando and Daytona Beach. Zaxby’s is a quick-serve restaurant specializing in chicken, based out of Athens, Georgia. With over 450 stores located in the Southeast, Zaxby’s is the third fastest growing franchise in its category.

Contact:
Greg Matus
1 407 557 3800
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Construction Pricing Softening from Economic Slowdown


WASHINGTON, DC--A slowdown in the global economy primarily caused by the sub-prime mortgage crisis has led to softening in construction pricing throughout the United States in the second half of 2007, according to Jones Lang LaSalle's fourth quarter 2007 National Construction Smart analysis. David Dempsey (photo top right) is JLL's managing director.

After realizing growth in excess of 6 percent from 2004 – 2006, construction costs slowed considerably in 2007. The price of raw materials experienced the largest increase in 2004,
averaging 15 percent growth, only to moderate to approximately 6 percent in 2005 and 2006.

Through the second half of 2007 prices grew by a modest 1.9 percent, decelerating from the
first half of year, which averaged 2.8 percent growth. The 2007 decrease in prices was largely
due to the depreciating housing market and weak US economy.

The price of lumber experienced the sharpest drop in pricing. During the peak of the housing
market cycle in 2004, lumber costs grew by over 17 percent annually. Lumber prices began
falling in 2005 and by January 2008, when housing starts were 28 percent lower than 2007,
demand for lumber dropped sharply.

As a result, prices fell by over 7 percent throughout 2007, the largest drop since 1998. The downturn in the US economy has caused the market for construction materials to soften, but global demand for specific materials, such as iron and steel has kept upward pressure on overall construction costs.

Developing countries are continuing to grow despite a troubled US economy and the demand for Iron and steel continues to be driven by countries such as China, India and parts of Asia, Africa and South America. The weak US dollar has made US exports of steel even more affordable to the developing countries, causing supplies to dwindle and placing additional upward pressure on prices.

For complete details in National Construction Smart, please contact:
John Sikaitis
+1 202 719 5839

Dave Dempsey
+1 202 719 5646

Justine Morrison
+1 202 719 5793
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Cambridge Provides $13.6M HUD 232 Insured Loan to Refinance Skokie Meadows Nursing Center

CHICAGO--A $13.6 million FHA-insured HUD loan has been provided by Cambridge Realty Capital Companies to refinance the Skokie Meadows Nursing Center, (photo top left) a combined 224-bed intermediate care and board and care facility in Skokie, Illinois.

Cambridge Chairman Jeffrey A. Davis said the property has 111 intermediate-care and 113 board and care units. The fully-amortized, 35-year term first mortgage was arranged for the owner, an Illinois limited liability company, by Cambridge Realty Capital Ltd. of Illinois, an FHA/MAP-approved HUD lender.

Davis said the borrower qualified for HUD's Section 223(a)7 funding program. The interest rate was not disclosed.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nation’s leading senior housing and healthcare debt and equity capital providers, closing more than 300 such transactions totaling more than $2.75 billion since then.

The company is one of the nation's leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

Cambridge’s award-winning Web site, www.cambridgecap.com, provides monthly rate updates for its debt and equity capital programs. The company also publishes the bi-monthly e-PULSE electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.

For additional information, contact Cambridge at (312) 357-1601 or via e-mail at info@cambridgecap.com.

Contact:
Evan Washington
Phone: (312) 521-7603
Fax: (312) 357-1611
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Cambridge Reports 26 Origination Requests in January

CHICAGO, IL--In a tight credit market, Cambridge Realty Capital Companies reports processing 26 loan origination requests totaling $538.4 million during the first month of the New Year.

The actual number of origination requests in January was down from 33 for the same month last year. But dollar volume was ahead of last January’s $512.5 million total, said Cambridge Chairman Jeffrey A. Davis. (photo top right)

“It’s hard to read too much into totals for a single month, but the pattern established last year appears to be holding. Origination requests are down but volume totals are holding their own,” he said.

In 2007, loan origination requests at Cambridge were down 20 percent but the total volume of these loans, $4.49 billion, was slightly ahead of the previous year.

Davis points out that lenders close a relatively small percentage of the loan origination requests they receive. But it’s useful to track this information as an indication of market directions, he believes.

Privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties, Cambridge emerged in the 1990s as one of the nation’s leading senior housing and healthcare debt and equity capital providers, closing more than 300 such transactions totaling more than $2.75 billion since then.

The company is one of the nation's leading HUD 232 FHA / MAP-approved lenders and also has an integrated debt / equity financing strategy that includes direct property acquisitions and joint ventures; sale / leasebacks for clients; conventional and mezzanine debt financing; and acquisition of distressed debt. Additionally, Cambridge offers a wide array of conventional lending options for senior housing / healthcare owners, including permanent construction and interim loans on either a floating or variable rate basis.

Cambridge is the creator of The Signature Experience™, a four-step process designed to transform the traditional lender / borrower relationship and identify “ideal” capital solutions for worthy projects. The company has created four separate processes for customer groups that are designed to build and enhance long-term relationship potential and speed the way loans are processed and closed.

Programs include The Key To Capital™ for senior housing owners, The Navigator Experience™ for senior housing brokers and mortgage bankers, The Principal Lender Network™ for lenders who refer loans to Cambridge, and The Relationship Building Experience™ for various industry-related consultants, including lawyers and accountants.

The company has a regional office in New York, affiliate office in Los Angeles, and correspondent relationships nationwide. The firm also has established key origination relationships and a dozen or more Internet-based strategies.

Cambridge’s award-winning Web site, www.cambridgecap.com, provides monthly rate updates for its debt and equity capital programs. The company also publishes the bi-monthly e-PULSE electronic newsletter, which delivers company news and feature stories via e-mail to corporate friends and clients.

For additional information, contact Cambridge at (312) 357-1601 or via e-mail at info@cambridgecap.com.

Contact:
Evan Washington
Phone: (312) 521-7603
Fax: (312) 357-1611
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