Saturday, November 20, 2010

Chatham Lodging Trust Postpones Proposed Offering


PALM BEACH, FlL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium branded select-service hotels, announced that as a result of unfavorable market conditions, the company has postponed its previously announced public offering of 7,000,000 common shares.

Jerry Daly,Carol McCune, Daly Gray Public Relations (Media), (703) 435-6293, 
Craven, Chief Financial Officer (Company),  (561) 227-1386              

Wells REIT II Wins TOBY Earth Award from BOMA New Jersey

 NORCROSS, GA – Wells Real Estate Investment Trust II has been awarded the prestigious Earth Award from the New Jersey chapter of the Building Owners and Managers Association, for environmental excellence at its office property in Florham Park.

The winning property – 180 Park Avenue, Building 105 – also is a winner of the coveted LEED Gold certification for Leadership in Environmental and Environmental Design.  It’s one of only three properties in New Jersey to earn LEED Gold in the Existing Buildings category.
The property also has earned the Environmental Protection Agency’s ENERGY STAR® award.
The Earth Award was presented in recognition of the property’s achievements in environmental responsibility and energy efficiency.  The property, built in 2001, was acquired by Wells REIT II in 2005.  It is leased to an international pharmaceuticals corporation.

BOMA’s Earth Award is part of its TOBY awards program, recognizing The Office Buildings of the Year. 

Media Contact: Margot Olcay, Rubenstein Associates, (212) 843-8284

Morrison Commercial Real Estate Completes 4,412-SF Office Building Sale in Winter Park, FL

ORLANDO, FL  Greg Morrison (top left photo), CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of a sale transaction for an office building located at 147 Moray Lane in Winter Park.
   Christi Davis (top right photo), represented the seller, Armando Fuentes in the transaction for $1,118,250.00 in October 2010 to Adventist Health Systems.
Morrison Commercial Real Estate Completes Four Lease Transactions Totaling 46,993+ SF at Gateway Center in Orlando

ORLANDO, FL -- Greg Morrison, CCIM, SIOR, Principal of Morrison Commercial Real Estate, announced the completion of four lease transactions totaling almost 47,000± square feet at Gateway Center (lower right photo) in Downtown Orlando in the past 30 days.       

 Contact: Kathryn Crownover, Phone: 407.219.3500 ext. 210

Arbor Closes $1.9 Million Fannie Mae DUS® Loan for Kensington Townhomes in Lansing, NY

UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,900,000 loan under the Fannie Mae DUS® Loan product line for the 20-unit complex known as Kensington Townhomes (top left photo) in Lansing, NY.

The 10-year loan amortizes on a 30-year schedule.

 The loan was originated by Stephen York (bottom right photo) , Director, in Arbor’s full-service New York, NY, lending office.

“This was our third transaction with these clients, who were looking to close quickly on this purchase in order to preserve their 1031 exchange,” York said.

“We were pleased to deliver exceptional terms that exceeded our clients’ expectations and we look forward to future opportunities together.”

Contact:  Christopher Ostrowski,