Tuesday, August 24, 2010

Wells Fargo Tops U.S. Commercial/Multifamily Servicers in MBA Mid-Year Rankings Report

Washington, DC (Aug.  24, 2010) - The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers as of the end of June 30, 2010.

Topping the list of firms is Wells Fargo with $462.8 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $307.9 billion, Berkadia Commercial Mortgage with $202.6 billion, Bank of America Merrill Lynch with $133.4 billion and KeyBank Real Estate Capital with $124.7 billion.

A primary servicer is generally responsible for collecting loan payments from borrowers, performing property inspections and other property-related activities.

 A master servicer is typically responsible for collecting cash and data from primary servicers and then providing that cash and data, through trustees, to investors.

Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles.

Wells Fargo, PNC/Midland, Berkadia, Bank of America Merrill Lynch and KeyBank are the largest master and primary servicers of commercial/multifamily loans in U.S. CMBS, CDO and other ABS; GEMSA Loan Services, PNC/Midland, Prudential Asset Resources, Northwestern Mutual, and Northmarq Capital are the largest servicers for life companies; PNC/Midland, Wells Fargo/Wachovia Bank, Deutsche Bank, Berkadia and Prudential are the largest Fannie Mae/Freddie Mac servicers.

PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA the top credit company, pension funds, REITs, and investment funds servicer; PNC/Midland the top FHA and Ginnie Mae servicer; Wells Fargo the top for mortgages in warehouse facilities; and Berkadia the top for other investor type loans.

Contact: Carolyn Kemp, (202) 557-2727, ckemp@mortgagebankers.org

Omni Hotels Prevails at Auction for Amelia Island Plantation in North Florida

TAMPA, FL, Aug. 24, 2010 – An auction was held Monday in U.S. Bankruptcy Court for the Middle District of Florida to decide the future owner of Amelia Island Plantation.

After a spirited standing-room-only auction conducted by Judge Paul Glenn, (middle right photo) TRT Holdings/Omni Hotels emerged as the successful bidder for the storied north Florida beach resort.

TRT, Omni’s parent company, submitted an acceptable and binding bid of $$67.1 million.

Amelia Island Plantation, located just 29 miles north of Jacksonville International Airport, is a 1,350-acre property that overlooks the Atlantic Ocean on the east and the Intracoastal Waterway on the west.

The 249-room resort features 54 holes of championship golf, a tennis center, spa, and 50,000 square feet of meeting space.

The two other bidders for the resort included Starwood Capital and Noble Investment Group. In July, Noble had emerged as the stalking horse bidder with an offer of $47.4 million. The transaction is expected to be approved at the confirmation hearing scheduled for August 26 and a closing is anticipated shortly thereafter.

Amelia Island Company retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code.

 In all, the firm responded to over 90 bona fide inquiries and conducted nearly 30 formal property inspections by pre-qualified investors.

TRT Holdings is the holding company of Omni Hotels and Gold's Gym. The firm’s founder is Robert Rowling (bottom right photo).

 In 1989 Texaco acquired Rowling’s company, Tana Oil and Gas, for $476 million, thereby providing money that was used to form TRT Holdings. TRT Holdings later purchased Omni Hotels for $500 million and Gold's Gym for $180 million.

Contact: Orlando Plasencia, The Plasencia Group, Inc., 4107 N. Himes Avenue, Tampa, FL 33607, 813.932.1234 Office, 813.932.4321 Fax, oplasencia@TPGhotels.com

NAI Realvest Negotiates Long Term Lease For Motorcycle Shop on OBT in Orlando

MAITLAND – NAI Realvest recently negotiated a five-year lease agreement for a 5,000 square foot motorcycle shop at 2001 N. Orange Blossom Trail in Orlando.

Michael Heidrich (top right photo), a principal at NAI Realvest negotiated the transaction representing the landlord, Alexander D. MacKinnon, III of Tampa and the new local tenant, A Bike Shop, Inc., which will be occupying units A and B at the retail facility to handle motorcycle sales, service and repair.

For more information, contact:
Michael Heidrich, Principal, NAI Realvest, 407-875-9989 mheidrich@realvest.com;
Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com;
Beth Payan or Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com

Chairman of NAI Realvest George Livingston says Congress did Something Right: U.S. Tax Reform Generating More Foreign Investment in Real Estate

ORLANDO, FL. --- Congressional reform of the Foreign Investment in Real Estate Property Tax Act (FRIPTA) is having a positive effect on the nation’s economy, according to longtime real estate analyst George Livingston, (top right photo) chairman of NAI Realvest in Maitland.

“Reform of FRIPTA has been a high priority and it is beginning to pay off,” Livingston said.

“Results of the tax reform bill are already impacting the market. REAL Capital Analytics reports that the U.S. is back on the top of the list of target markets for foreign investors, largely as a result of the reform and the related upturn in the markets,” Livingston added.

Foreign investment is a major key to recovery of the U.S. commercial real estate investment market,” Livingston said.

“Significant deals by foreign investors are taking place right now, including three Orlando transactions and five in Florida,” Livingston said.

“Canada is clearly leading the way, and the deals tend to be large in size and cut across all property types, even including hotels,” he said.

Florida Real Estate Journal recently reported that a survey of members of the Association of Foreign Investors in Real Estate (AFIRE) shows renewed commitment to U.S. real estate as their preferred acquisition target.

“The response---by more than half of the members of AFIRE---is the strongest reading since 2003,” Livingston said. Among investors, the U.K. ranks as the second most preferred with 30 percent of the vote and China ranks third with 10 percent.

AFIRE members own assets worth $842 billion worldwide and $304 billion in the U.S., Livingston said.

Two thirds of its members expect to increase their investments this year, typically for trophy properties in major markets such as New York, Washington, D.C., and San Francisco.

“The U.S. is still considered the most stable and secure real estate investment market in the world,” Livingston added.

For more information,  contact:
George Livingston, Chairman NAI Realvest 407-875-9989; glivingston@realvest.com; Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Stirling Commercial Group Negotiates Two New Office Leases totaling more than 4,900 SF at the Plaza in downtown Orlando

ORLANDO, Fla. --- Stirling Sotheby’s International Realty Commercial Group recently negotiated two office lease agreements at the Plaza (top left photo)  located on S. Orange Ave. at Church Street in downtown Orlando.

Stirling Sotheby’s Commercial Group Associates James A. Mincy and John Kurtz negotiated a five-year lease for suite 1120 with 1,974 square feet representing the landlord, ACM DT Properties LLC and the new tenant, Creative Zing, LLC, a local promotion and event marketing agency.

Mincy and Kurtz also represented landlord ACM DT Properties in the two-year lease of suite 1410 with 2,995 square feet to Orlando-based K Property Management LLC.

For more information, please contact:
James A. Mincy, Sales Associate, Stirling Commercial Group 407-581-5550;
Roger Soderstrom, Owner/Founder Stirling Commercial Group, 407-581-7890;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Arbor Closes $995,000 Fannie Mae DUS® Small Loan for 1416 West Olympic Apartments in Los Angeles, CA

Uniondale, NY (Aug. 24, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $995,000 loan under the Fannie Mae DUS® Small Loan product line for the 24-unit complex known as 1416 West Olympic Apartments (top left photo)  in Los Angeles, CA.

The seven-year loan amortizes on a 30-year schedule and carries a note rate of 5.88 percent.

The loan was originated by Ronen Abergel (lower right photo) , Director, in Arbor’s full-service New York, NY, lending office. “This deal represents Arbor’s fourth transaction with the borrower, which demonstrates our clients’ level of service and satisfaction.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

The Residences at The St. Regis® Bangkok Power Ahead in Preparation for October Launch

BANGKOK, THAILAND (Aug. 24, 2010) – The Residences at The St. Regis Bangkok (top left photo)  continues to stay on course in preparation for the scheduled October launch of this luxurious, urban dwelling in Thailand’s modern metropolis.

 Commitment and financing from Minor International PLC, the project’s developer, remain strong.

 In addition, confidence in Bangkok is buoyed by Travel + Leisure, a publication that caters to the luxury travel market, recently naming Bangkok as number one in the magazine’s 2010 “World’s Best City” list.

“The Travel + Leisure ranking affirms what we have known about Bangkok all along,” said William E. Heinecke, (top right photo) Chairman and CEO of Minor International PLC.

“We are undeterred in our vision to provide the ultimate urban living experience in this wonderful city, the first destination in Thailand to feature St. Regis Residences.

" We continue to trust in Bangkok’s appeal as a world-class destination, and have every confidence that this is the ideal market for this special St. Regis offering.”

The results of Travel + Leisure’s survey of readers who voted on the world’s top destinations appear in the July issue. Bangkok is ranked as the top city in the world, followed by Chiang Mai. Rounding out the top 10 cities across the globe are Florence (Italy), San Miguel de Allende (Mexico), Rome (Italy), Sydney (Australia), Buenos Aires (Argentina), Oaxaca (Mexico), Barcelona (Spain) and New York City (the United States).

This is the second time readers voted Bangkok as the top city in the world. In 2008, it was ranked number one on Travel + Leisure’s list over metropolises such as Buenos Aires and Cape Town, South Africa.

“We are thrilled with the landmark entry of the St. Regis brand into Thailand.

"The sustained demand for luxury accommodations, the legendary bespoke service and the unrivaled location of The Residences at The St. Regis Bangkok will make an extremely attractive choice for travelers coming to this dynamic capital city,” said Mr. Miguel Ko (lower left photo), Chairman & President for Starwood Hotels & Resorts, Asia Pacific.

Media Contact: Hwee Peng Yeo, Director of Asian Markets, Glodow Nead Communications – Asia, Level 21, Centennial Tower, 3 Temasek Avenue, Singapore 039190, Tel : 65 9768.6087, hweepeng@glodownead.com

Glodow Nead Communications, 1700 Montgomery Street, Suite 203, San Francisco, CA 94111, T: 1 415.394.6500, C : 1 650.892.4769 F: 415.403.9060
hweepeng@glodownead.com, Follow us on Facebook

D & A Building Services Celebrates Quarter Century in Business

LONGWOOD,, FLAug. 24, 2010 — D & A Building Services Inc., a facility maintenance company headquartered in Longwood, Fla., is celebrating 25 year in business.

Founder and Company President/CEO Al Sarabasa, Jr. (top right photo) opened the doors of D & A Hi-Rise Window Cleaning Services in 1985 just one month after graduating from the University of Central Florida with a degree in marketing.

Twenty-five years later, the two-person start-up has grown into Central Florida’s largest commercial cleaning company, and one of the largest Hispanic owned businesses in the nation.

Today, with annual sales of $16.5 million and a staff of 650, D & A Building Services offers a full complement of facility maintenance services operating from seven offices in five states.

Through the 1990s, D & A grew with a roster of commercial real estate clients that reads like a Who’s Who of property management giants such as Trammell Crow, CBRE, Colonial Properties Trust, Continental Real Estate Companies, Crescent Resources, Cushman & Wakefield, Duke-Weeks Realty Corp., Flagler Development Co., Jones Lang LaSalle, NAI Realvest Partners, OPUS South Management Corp., and RREEF.

Equally impressive are the public and military facilities cared for by D & A during its quarter century history.

 In Florida, projects include Orlando City Hall (top left photo), Orange County Convention Center (lower right photo), Orlando International Airport, Orlando Utilities Commission, Central Florida Zoo, NASA, Florida Supreme Court, Cecil Field, Jacksonville Naval Air Station, and Mayport Naval Air Station.

 In other parts of the nation, D & A has provided services to the Theodore Levin U.S. Courthouse and U.S. Customs Cargo Inspection Facility in Detroit, Mich., the John W. Bricker Federal Building and Kinneary U.S. Courthouse in Columbus, Ohio, Whiteman Air Force Base in Missouri, and in Texas contracts include the Texas Department of Transportation, Garland Independent School District, Dallas County, City of Dallas, Denton County, City of Huntsville and City of Plano.

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

Dallas Interior Design Group Secures Five New Residential and Commercial Contracts

DALLAS, TX, Aug. 24, 2010 - Elaine Williamson Designs(http://www.elainewilliamsondesigns.com/) - an award-winning, internationally regarded firm specializing in high end residential and commercial interior design and décor throughout Dallas, Texas and beyond, today announced it has secured fully 5 new home and business interior design contracts within the past 30-days.

The company concurrently announced it has formerly launched a LEED AP Accredited residential and commercial interior design division in response to increasing demand, and to best service its rapidly escalating client base.

The commercial project for North Texas Spine and Sport entails a complete re-design for a physician’s personal office and 4 patient rooms.

This contract is a continuation of the company’s prior engagement with Texas Spine and Sport that is now complete, where Elaine Williamson Designs re-designed the medical office’s exterior façade, lobby and lounge areas.

Combined, the 4 newly contracted home projects encompass nearly every residential space, including entry/foyer, office, bathroom, dining room, breakfast area, kitchen, sitting room, family room and formal living room. All 5 of Elaine Williamson Designs’ newly contracted projects were driven by satisfied client referrals.

“Despite the economic downturn, 2010 has been a very busy year for our firm,” said Elaine Williamson (top right photo), principal of Elaine Williamson Designs. “This flurry of new residential and commercial contracts - all referral based - further validate that our highly customized, client-centric design methodology, distinctive style sensibility and work ethic is resonating within the local marketplace.”

With burgeoning demand for “green design” solutions within the marketplace, Elaine Williamson Designs has also formerly launched its new LEED AP Accredited residential and commercial interior design division spearheaded by ASID Allied Member Joanna Jackson – a degreed, LEED Accredited interior design professional for new construction as well as building construction and design.

As the division head, Joanna is charged with cultivating Elaine Williamson Designs’ “green project portfolio” relative to both new business development and client services.

In addition to driving residential and commercial client acquisition initiatives, Joanna and her team also execute contracted eco-conscious interior design and re-design projects from start to finish, including defining project scope, space planning and layout conceptualization, and furnishing and materials procurement. LEED Team design coordinator Kathleen Boykin also oversees related vendor and contractor relations.

“We always stay abreast of current and forecasted design and décor trends, with all things ‘green’ now leading the way,” Williamson notes.

 “This new LEED design division best assures our clients that we have the knowledge, skill and expertise to plan and execute their environmentally conscious interior design project with a high degree of style and visual appeal.”

Contact:  Merilee Kern, Kern Communications, 858-577-0206, merilee@kerncommunications.com

TD Wood Finds Total $3.2M in Financing for Two Shopping Centers

Miami, FLAug. 24, 2010— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $3,200,000 for Washington Place Shopping Center and Cypress Creek Shopping Center.

Steve Wood, (top right photo) Company Chief Operating Officer, along with Mike Daspin of United Financial, secured $1,200,000 in financing for Cypress Creek Shopping Center on August 2, 2010, through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company.

The fixed-rate loan has a term of five years, with rate resets every five years, based on a 25-year amortization and an interest rate of 6.50%. The loan-to-value is 50%. The 14,270 square-foot retail center was built in 1981, and is located at 5661-5697 Vineland Road, Orlando, Florida.

Brad Cox, (lower left photo)  CCIM, CPM, Company Vice President, secured $2,000,000 in financing for Washington Place Shopping Center on July 30, 2010, through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company.

The full-recourse loan is fully-amortizing with a loan term of 21 years and an interest rate of 6.875% with interest rate reviews.

The loan-to-value is 64%. The 42,093 square-foot retail center is home to major tenants Goodwill Industries and Fastenal Corporation, and was built in 2002-2003. Washington Place Shopping Center is located at 4070-4074 Washington Road, Martinez, Georgia.

For further information, please contact:
Steve Wood (305) 447-7836 swood@tdwood.com
Brad Cox, CCIM, CPM (941) 552-9731 bcox@tdwood.com
Jessica Kinnee (407) 937-0470 jkinnee@tdwood.com

Grubb & Ellis Represents STG Inc. in 100,000-SFt Headquarters Relocation and Expansion in Reston, VA

TYSONS CORNER, VA (Aug. 24, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented STG, Inc. in the lease of 100,000 square feet of office space at 12011 Sunset Hills Road in Reston from Boston Properties.

The lease represents a headquarters’ relocation and expansion for the leading enterprise solutions and information technology provider.

Founded in northern Virginia, STG was previously located in an 86,000-square-foot sublet at Plaza America. Warren Amason, (top right photo)  executive vice president, and Chad Arnold (top left photo), vice president, both in the Office Group, represented STG. Boston Properties was self-represented.

The sublease was due to expire in December 2011, but with rents declining steadily over the past three years and concessions rising, it made sense to go to the market early.

One of the few silver linings in the economic downturn for business owners is that office rents have fallen, and this is an excellent time to lock in low rates for many years.

“This was an excellent opportunity for STG to capitalize upon market conditions to enhance the quality of its space at very aggressive lease rates,” said Amason. “This is a classic example of ‘flight to quality’ during an economic retreat.”

Arnold added, “This was a package with tremendous value, including Toll Road signage, top floor views, high-quality existing build-out, great vehicular access, strong ownership, and walking distance to the rich amenity base at Reston Town Center.”

“While we are delighted to have the lease in place we will continue to support STG through design and construction, so there is still a lot of work yet to do,” said Amason.

The brokers will continue to work with STG in the coming months to facilitate the occupancy process by assisting with architect and contractor interviews and participating in design and construction meetings.


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

Deborah Perry Joins Grubb & Ellis Company as Senior Vice President, East Bay Retail Group Leader

WALNUT CREEK, Calif. (Aug. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Deborah Perry (lower left photo) , CSM, has joined the company as senior vice president, East Bay Retail Group Leader.

Joining from Colliers Parrish International, where she was named the Top Retail Broker in 2009, Perry will lead Grubb & Ellis’ retail team in the East Bay. She will also be a member of the company’s Retail Agency and Retail Tenant Representation practice groups.

“Deborah has established herself as one of our market’s leading retail professionals, and I couldn’t be more pleased that she has chosen to be part of our team.” said Edward Del Beccaro, (bottom right photo)  executive vice president and managing director of Grubb & Ellis’ Walnut Creek office.

“We are focused on building the best commercial real estate services team in the Bay Area, and that starts with attracting professionals like Deborah.”

Deborah’s addition is consistent with Grubb & Ellis’ strategy to substantially upgrade the company’s capabilities throughout the region, especially in the retail sector.

 Perry is one of seven retail brokers who are new to the company within the past six months. Since January 2010, eight professionals, specializing in office, retail and investment, have joined the company’s Walnut Creek office and 32 have joined the company overall in the Bay Area.

Perry spent 11 years at Colliers Parrish International, as a senior vice president.
Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com

The Marketing Directors Produces Success in Challenging Real Estate Market

Company Hires 35 New Employees

ATLANTA (August 17, 2010) – The Marketing Directors has achieved unbridled success in one of the most challenging real estate markets in history.

 That success has led to the hiring of 35 new employees since spring of this year. The company continues to show exceptional growth. Based on sales across Atlanta in the 2nd Quarter alone,

 The Marketing Directors has a 58% market share of sales in new condominiums.

The company also represents seven of the top 10 top-selling condominium communities in Atlanta. Since its inception in January 2007, The Marketing Directors has closed $400 million in sales and has signed real estate listings worth a total of $2.85 billion.

“The 2nd quarter of 2010 was the most robust for condominium sales in the last four quarters,” says David Tufts, (middle left  photo)  president of The Marketing Directors.

 “For all projects actively selling condominiums in Atlanta, the market averaged 1.5 sales per project per month and The Marketing Directors sold 3.1 sales per month alone.”

Based on research completed by Market Insights, The Marketing Directors’ research division, the top two sellers of the quarter, Vinings Main (top right photo) and Viewpoint (top left photo)  had over 30 net sales each.

Vinings Main reopened for sales in April after the project’s former owners were foreclosed on. Since the doors reopened for sales, a pent-up demand for a well-priced, highly-amenitized luxury building in the heart of Vinings has allowed Vinings Main to lead the Atlanta market in new sales.

The top 10 sellers in the market in the 2nd Quarter (in order) were: Vinings Main (38 net sales), Viewpoint (33), 1010 Midtown (29) (lower right photo), 10 Terminus Place (18), Villa Sonoma (17), Central City (15), Paramount at Buckhead (14), Castleberry Point Lofts (13), Twelve Centennial Park (13) and Luxe (12). The Marketing Directors oversees sales and marketing for 7 of the top 10: Vinings Main, Viewpoint, Central City, Paramount at Buckhead, Castleberry Point Lofts, Twelve Centennial Park and Luxe.

The Marketing Directors expects the competitive landscape to continue to change when it launches three new buildings for ST Residential. The Brookwood, The Atlantic and Serrano each will open later this month with new pricing that will increase competition with existing projects in Midtown, Buckhead and the Perimeter/Sandy Springs area.

The Marketing Directors, LLC, was founded in 2007 by David Tufts. He and Adrienne Albert, (lower left  photo) Marketing Directors, Inc.’s Chief Executive Officer collaborated to create a team of the most highly experienced real estate professionals in the Southeast to service developers specializing in high-density residential sales and marketing.

With over 30 years of experience, The Marketing Directors is well positioned to be the solution to developers in any market condition.

The Marketing Directors, LLC represents real estate clients and developers throughout Atlanta; Houston; Boca Raton, Orlando, Tampa, St. Petersburg and West Palm Beach, Fla.; Chapel Hill, N.C.; Huntsville, Ala.; and Memphis and Nashville, Tenn.

 The Southeast offices are headquartered in the Four Seasons Tower at 75 14th Street, Atlanta, Ga., and 121 South Orange Avenue, Suite 1500 in Orlando, Fla. For more information, visit www.themarketingdirectorsinc.com or find us on Facebook.

Contact: traci buch, liz lapidus pr, 772 edgewood avenue ne, atlanta, ga 30307, p 404-688-1466 f 404-681-5204, http://www.lizlapiduspr.com/

Promotions and New Faces at Marcus & Millichap

Nat Gambuzza Named Vice President Investments in New Jersey
ELMWOOD PARK, N.J., Aug. 23, 2010 – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Nat Gambuzza (top right photo)  to the position of vice president investments.

The achievement of vice president investment status is one of the highest levels of recognition the firm awards its sales agents. It represents excellence in client relationships, investment real estate expertise and sales volume, according to Michael J. Fasano, (top left photo) vice president and regional manager of the firm’s New Jersey office.

Most recently, Gambuzza held the position of senior associate.

Gambuzza began his career with Marcus & Millichap in 2002, specializing in multifamily investment sales.

James Linfield Hired as Senior Associate in Western Massachusetts

 AMHERST, MA, Aug. 23, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named James Linfield (middle right photo)  as a senior associate in the Western Massachusetts office.

As a senior associate, Linfield will broker the sale of multifamily investment properties.

“Jim’s in-depth knowledge of the multifamily market makes him an asset to private and institutional investors in need of brokerage and advisory services in Western Massachusetts, as well as northern Connecticut,” says Gary R. Lucas, (middle left photo)  regional manager of the firm’s Western Massachusetts office.

Most recently, Linfield was a broker with a local multifamily real estate services firm. He has more than 20 years of experience selling properties in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire.

Linfield received a bachelor’s degree in accounting from Suffolk University.

Jake Roberts Moves Up to Vice President Capital Markets in West Los Angeles

LOS ANGELES, Aug. 23, 2010 –Marcus & Millichap Capital Corp. (MMCC) has named Jake Roberts (lower right photo)  to the position of vice president capital markets.

The achievement of vice president capital markets status is one of the highest levels of recognition the firm awards its originators.

It represents tremendous market knowledge, superior transaction expertise and commitment to providing clients with excellent capital markets knowledge and advisory services, according to William E. Hughes, (bottom left photo) senior vice president and managing director of Marcus & Millichap Capital Corporation.

Most recently, Roberts held the position of senior director. Roberts began his career with MMCC in 2004.

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

U.S. Hotel Profit Growth Returns in 2010

Economic Headwinds Cloud Future Performance

Atlanta, GA, Aug. 24, 2010– Based on the strong surge in lodging demand that occurred during the first half of 2010, Colliers PKF Hospitality Research (PKF-HR) now forecasts that the average U.S. hotel will achieve a 2.3 percent increase in net operating income (NOI) during 2010.

This follows a 37.8 percent cumulative decline in profits experienced from 2007 through 2009, and is the first annual uptick in forecasted NOI since 2007.

“The bottom-line losses suffered by hotel owners over the past two years were devastating, and the repercussions have been, and continue to be, felt throughout the financial community,” said R. Mark Woodworth, (top right photo)  president of PKF-HR.

(Arizona Biltmore Hotel, middle left photo)
 “The likelihood that this trauma is coming to an end is welcome news. With occupancy driving the growth in RevPAR in 2010, the rise in profits at this stage is somewhat underwhelming.

"However, going forward we will begin to see a more profitable formula for revenue growth as operators reclaim pricing leverage and room rates begin to rise.

"That being said, operators must pay attention to the significant increases in operating costs that we’ve consistently observed during past recovery periods.”

 PKF-HR forecasts double-digit growth in unit-level NOI growth each year from 2011 through 2013.

(Hotel Fontainebleau rendering Las Vegas, middle right photo)

The improved outlook for 2010 bottom-line performance is the result of increasing optimism about the top-line.

In the recently released September 2010 edition of Hotel Horizons®, PKF-HR forecasts a 4.6 percent increase in revenue per available room (RevPAR) for the U.S. lodging market in 2010.

This is the result of a projected 5.2 percent rise in occupancy, but a 0.6 percent decline in average room rates (ADR). “Our analysis confirms that the sharp rise in demand during the first half of 2010 is partially attributable to the low level of room rates,” Woodworth added.

(Hotel Park Hyatt Chicago, middle left photo)

While PKF-HR’s forecasts during the past few quarters have grown increasingly optimistic for 2010, the firm’s projections for 2011 have softened.

 In the September 2010 Hotel Horizons® report, PKF-HR forecasts RevPAR to increase 5.9 percent in 2011. This compares with the firm’s 7.8 percent RevPAR forecast published in June of 2010.

“It’s not that we are becoming less bullish on 2011. It’s more that the 2010 recovery is happening at a quicker pace,” Woodworth noted.

(Hotel Radisson Los Angeles Airport, lower right photo)

For 2011, PKF-HR is projecting ADR to increase 3.8 percent. Concurrently, occupancy is forecast to grow 2.1 percent. With ADR driving revenue growth, unit-level NOI is projected to rise 10.8 percent.

“The projected 5.2 percent annual increase in occupancy during 2010 is based on the strong 7.0 percent growth in lodging demand reported by Smith Travel Research (STR) for the first half of the year, plus the modestly optimistic economic forecast prepared by Moody’s Economy.com in July of 2010,” Woodworth said.

 “While our 2010 performance projection has improved over previous forecasts, we are becoming a bit more concerned about the economic environment that lies ahead.

" We like what we’ve seen so far in 2010, but we are starting to notice some potential economic headwinds that could pose a threat to hotel performance.”

“Uncertainty impacts the psyche of both hotel operators and their potential guests."

"We have identified several factors that are a cause for concern: persistent high levels of unemployment, continued weakness in housing, airline capacity constraints, the November elections, and the tax policies that expire on January 1, 2011,” stated John B. Corgel (middle right photo) Ph.D., the Robert C. Baker Professor of Real Estate at the Cornell University School of Hotel Administration and Senior Advisor to PKF-HR.

(Hotel Adolphus Dallas, lower right photo)

“It is important to note that the PKF-HR positive forecasts of lodging performance include the economic forecast assumptions of Moody’s Economy.com.

"However, I must admit that our bias towards the September forecasts is slightly negative, meaning that actual results are more likely to fall short of, rather than exceed, projected results.”

To observe a complete discussion of these economic headwinds, we invite you to view a video conversation between Mark Woodworth and Dr. Jack Corgel. The video can be found at:  http://www.pkfc.com/en/videos/subscribers/lodgingsinsights0810.aspx

To purchase a September 2010 Hotel Horizon® report, please visit http://www.hotelhorizons.com/.   Reports are available for each of 50 major metropolitan areas in the U.S., and contain five year projections of supply, demand, occupancy, ADR, and RevPAR.

For further information,  please contact:

Mark Woodworth, President, Colliers PKF Hospitality Research, Tel: 404 842 1150, ext 222, Email: mark.woodworth@pkfc.com, http://www.pkfc.com/

Chris Daly, Daly Gray Public Relations, Tel: 703 435 6293, Email: chris@dalygray.com, http://www.dalygray.com/