Wednesday, March 30, 2011

New Faces at Grubb & Ellis

Cindy Burger Joins Firm as Senior Vice President, Director of Management Services in Dallas, TX

DALLAS, TX (Mar. 30, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Cindy Burger (top right photo), a 22-year veteran of the commercial real estate industry, has joined the firm as senior vice president, director of Management Services. 

In this position, Burger will lead Grubb & Ellis’ property management team in Dallas, as well as oversee and expand the company’s management services business throughout the region.

 “Cindy has considerable experience in commercial real estate, having represented property owners in most phases of the real estate cycle, including, leasing, marketing, property management and financial reporting,” said Moody Younger (lower left photo), executive managing director, Texas.  “We couldn’t be more pleased that she is now part of our team.”

Burger joins the company from CB Richard Ellis, where she was responsible for the leasing, marketing and property management of more than 50 million square feet of office, industrial and retail space. 

Prior to joining CB Richard Ellis in 2008, she spent three years with Cushman & Wakefield’s Irvine office, ultimately rising to the position of director.

 Jonathan A. Walz  Is New Executive Vice President, Debt & Equity Finance In San Diego, CA

SAN DIEGO, CA  (Mar. 30, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Jonathan A. Walz (bottom right photo) has joined the company as executive vice president, Debt & Equity Finance.  

 “Jon has extensive experience in portfolio management, as well as developing and executing commercial lending programs,” said Jeff Majewski, executive managing director, Debt & Equity Finance.

 “He brings a strong network of relationships that includes a number of servicers and financial institutions throughout the Southwest; he will be an integral part of helping to grow our business.” 

 Walz joins Grubb and Ellis from Cushman & Wakefield Sonneblick Goldman, where he was senior director, Real Estate Financial Services.

Contact:  Julia McCartney, Phone: 714.975.2230   

Concord Hospitality Celebrates 25th Anniversary with Record Growth in 2010; Adds 18 Hotels

 RALEIGH/DURHAM, N.C., Mar. 30, 2011—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that it celebrated its 25th anniversary with the addition of a record 18 hotels to its portfolio in 2010 and generated more than $287 million in revenues.

 The company opened three new hotels, including the pioneer prototype for the first LEED-Designated Courtyard by Marriott, broke ground on two properties, and added 13 new third-party management contracts. 

Concord’s portfolio has grown by nearly 40 percent since the recession that hit in the fall of 2008.  The company also added new brands to its portfolio, including Hyatt Place, Hyatt Summerfield Suites, Crowne Plaza and Holiday Inn.    

The company’s 2010 operating and development excellence was recently recognized with six national awards, including the prestigious “Partnership Circle” award, Marriott International’s highest honor presented to outstanding owners and franchisee partners.

 It is the eighth time Concord has received the award, one of only two companies to achieve this level. 

The other five national awards earned by the company for 2010 are Developer of the Year Award; Best Opening Award for the company’s handling of the Fairfield Inn & Suites by Marriott hotel opening in Cumberland, Md.; Best New Product Award for the Renaissance Raleigh North Hills hotel; the Service Excellence Award; and the first ever Marriott Design & Construction Icon Award.

 The awards were presented at Marriott International’s recent select-service owners' conference.

“We continue to see development opportunities in both the U.S. and Canada,” said Mark G. Laport (top right photo), president and CEO of Concord Hospitality.

  “On the acquisition front, the hotel real estate market is reviving, judging by the growing number of hotels coming to market now, a trend that began last fall. 

“Working with our partners, including 11 new relationships in the past year, we have significant funding available to maintain an aggressive growth pace and expect to exceed the 100 hotel milestone in the next two years.” 

“Winning the prestigious Partnership Circle award eight times is humbling and places us in a very elite group,” he noted.  “We are fortunate to have some of the hardest-working, service-oriented team leaders, who are the ones who earned this award.”

For more information, visit
 Contact:  Chris Daly, Jerry Daly, (703) 435-6293


Hendricks & Partners Negotiates Sale of 208 Unit Crosswinds Apartments in St. Petersburg, FL for $13.1 Million

ORLANDO, FL--- Hendricks & Partners, which ranks as one of the nation’s largest multi-family real estate advisory and research firms, recently negotiated the sale of the Crosswinds Apartment Homes, located at 500  110th  Ave. North in St. Petersburg, for $13.1 million.

Cole Whitaker (top right photo), partner at Hendricks & Partners who heads the Southeast Division of the firm based in Orlando, negotiated the transaction with Associate Partner Hal Warren (lower left photo) representing the seller Chicago-based Equity Residential.

 The 208-unit apartment property totaling 153,984 square feet was built in 1986-87, Whitaker said.  The units are situated in 13 two-story garden-style buildings on 18.5 acres with tranquil lakes and fountains.

Amenities include two laundry facilities, fenced pet-play area, resort-style swimming pool and separate spa area, private Jacuzzi, racquetball and tennis courts, and clubhouse with fitness facility and business center.

 Covenant Capital Group LLC, a Nashville, Tenn. firm acquired the property.

For more information, contact:  
Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880,
Hal Warren, Associate Partner, Hendricks & Partners, 407-218-8881,
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142,

MBA Hires Thomas Kim to be Vice President of Commercial Regulatory Policy

WASHINGTON, D.C. (Mar. 30, 2011) -  John A. Courson (lower left photo), President and CEO of the Mortgage Bankers Association (MBA), today announced the appointment of Thomas T. Kim (top right photo)  as Vice President of Commercial Regulatory Policy.

 "Tom is uniquely qualified to help craft MBA's commercial policy, as well as help navigate our industry through the seemingly constant regulatory changes," said Courson.

"He joins us at a most crucial time in our industry's history, as we work through the implementation of the Dodd-Frank Act and other critical regulatory changes. We are thrilled to have Tom coming on board at MBA."

 Kim is joining MBA from the Federal Home Loan Mortgage Corporation (Freddie Mac), where he served as Associate General Counsel.

 Contact:: Matt Robinson, (202) 557-2727,