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.

Contact:

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/

HFF Los Angeles hires Christopher Simon as managing director in its debt placement group

LOS ANGELES, CA – HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has hired Christopher Simon as a managing director in the debt placement group in its Los Angeles office.

Simon has more than 13 years of experience in commercial real estate and will focus on originating debt, equity and structured finance transactions throughout the western United States.

Prior to joining HFF, Simon was the chief financial officer and a principal at DS Ventures, LLC, a mid-sized real estate development company that primarily acquires underutilized assets in central and southern California.

In this role, he was responsible for structuring all senior debt, mezzanine debt and equity for the firm as well as overseeing the structuring and underwriting for the pursuit of all acquisitions.

Prior to DS Ventures, LLC, Simon was a senior investment officer at Merrill Lynch Capital in Los Angeles. He began his career in real estate at Heller Real Estate Financial Services in New York.

 Simon graduated from New York University with a Masters of Science in Real Estate and from Emory University with a Bachelor or Arts in History.

“HFF Los Angeles is excited to welcome Chris on board. He has extensive experience in the debt placement world and will certainly be an asset to our existing team,” said Paul Brindley, (top right photo) senior managing director and head of HFF’s Los Angeles office.

Contacts:

Paul C. Brindley, HFF Senior Managing Director, (310) 407-2100,pbrindley@hfflp.com
 Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Kifer Tech Center in Silicon Valley

SAN FRANCISCO, CA – The San Francisco office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Kifer Tech Center, (middle right photo)  a two-building, 103,254-square-foot, Class A office/R&D campus in Sunnyvale, California.

The HFF investment sales team was led by senior managing directors Michael Leggett (lower left photo) and Gerry Rohm (lower right phto)  and associate director Chris Pawlik. TA Associates purchased the property for an undisclosed amount.

Kifer Tech Center is fully leased to tenants including Motorola, Inc., Siemens Corporation and Trident Microsystems.

Situated on nearly six acres at the intersection of Lawrence Expressway and Kifer Road, the property has easy access to Interstates 280 and 880, Highway 101 and Routes 237 and 82 in Silicon Valley. The property is also within 300 feet of a Caltrain station, which provides access to San Francisco and San Jose.

“Kifer Tech Center is a premier corporate destination and continues to outperform the market as evidenced by more than 80,000 square feet of net leasing activity during the past 12 months,” said Leggett.

Established in 1982, TA Associates Realty is one of the largest and most experienced privately-held real estate advisors in the United States.

Contacts:

Michael Leggett, CA Lic. (#01056334) HFF Senior Managing Director (713) 852-3500, mleggett@hfflp.com
Gerry Rohm, CA Lic. (# 01367742) HFF Senior Managing Director(415) 276-6300, grohm@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing(415) 276-6300 krmurphy@hfflp.com

Tim D’Angelo Rejoins Grubb & Ellis Company as Senior Vice President, Industrial Group

DENVER, CO (Aug. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that 30-year commercial real estate veteran Tim D’Angelo (top right photo)  has rejoined the company as senior vice president, Industrial Group.

“With his extensive leadership experience and the excellent reputation he has earned as a brokerage professional in our market, Tim is a tremendous addition to our team,” said Mark Ballenger, (lower right photo)  executive vice president and managing director of Grubb & Ellis’ Denver office.

 “I couldn’t be more pleased that things have come full-circle and he is back at Grubb & Ellis.”

D’Angelo joins from Ringsby Realty, where he was director of Industrial Properties serving the needs of industrial users and owners throughout Denver and nationally since 2009.

Over the course of his career, D’Angelo has completed transactions valued in excess of $750 million on behalf of clients including First Industrial Realty Trust, Union Pacific Railroad, Majestic Realty and Nobel Sysco Food.

Previously, he was president and founder of TD Industrial for four years after serving as senior vice president with Fuller and Company, which he joined in 1997.

Contact:

Julia McCartney, 714.975.2230, Email: julia.mccartney@grubb-ellis.com
Erin Mays, 312.698.6735, erin.mays@grubb-ellis.com



Grubb & Ellis Tapped as Leasing Agent for 750,000-SF Troy Place in Troy, MI

SOUTHFIELD, MI (Aug. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has been selected by Troy Place Associates to be co-leasing agents with Nemer Property Group, Inc., at Troy Place (middle right photo), a five-building, 750,000-square-foot Class A office campus at the corner of West Big Beaver Road and Coolidge Highway in Troy.

Daniel Canvasser, (middle  left photo)  CCIM, senior associate, Ray Husband, senior vice president, Bob Badgero, senior vice president, and Steven Badgero, associate, all in the company’s Office Group, will join with Larry Nemer and Milford Nemer of Nemer Property Group, Inc., to handle the leasing for the property.

“These properties offer award-winning architecture and first-class amenities, including retail, cafés, business services and onsite property management, as well as convenient access to the Somerset Collection,” said Canvasser. “The complex is the destination for corporate users looking for prime Class A office space in Troy’s ‘Golden Corridor.’”

Located at 3001, 3155, 3221 and 3331 W. Big Beaver Road and 2855 Coolidge Highway, Troy Place offers two cafeterias with space available for private meetings, a bank, sundries shop, jeweler, hair salon and two executive parking garages.

Ocean Prime restaurant, one of Cameron Mitchell’s famed supper clubs, is located on the northeast corner of the site, with the Somerset Collection just to the east.

Extensive renovations of the lobbies and entryways are underway. Currently, Troy Place has available spaces ranging from 500 square feet to 80,000 square feet. In addition, prominent building signage is available for tenants leasing at least 30,000 square feet.

For more information, contact Canvasser at 248.350.8141 or daniel.canvasser@grubb-ellis.com.

Grubb & Ellis  Adds Religious and Non-Profit Facilities Services to San Diego Office

SAN DIEGO, CA (Aug. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that L. Thomas Morgan (middle left photo) , CCIM, and Gary Friesen (middle right photo)  have joined the company as senior vice president and associate, respectively.

As part of the Retail Group, the team will specialize in assisting churches and non-profit organizations with their real estate needs.

“Tom and Gary are an effective team who successfully combine their commercial real estate expertise with extensive experience in church and non-profit organizations to deliver clients thorough and effective solutions,” said Jim Munson, executive vice president and managing director of Grubb & Ellis’ San Diego office.

“Their specialty enables us to expand the services we offer clients and I couldn’t be more thrilled to have them on board.”

The team joins from American Church Brokers, formed by Morgan, a 35-year industry veteran. Prior to forming American Church Brokers in 2009, Morgan spent five years as a senior vice president of Church Brokers, a part of Diversified Realty Advisors that ceased operations in 2009.

“There are many religious denominations that operate on a national basis. By joining Grubb & Ellis, Gary and I are no longer limited to certain market areas; we can better serve our clients with the advantage of a national, multi-service platform,” Morgan said.

Friesen began his career in commercial real estate in 2008, at Church Brokers.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com


Grubb & Ellis  Selected to Lease One Million SF of Retail Space at Foothill Ranch Towne Centre in Foothill Ranch, CA

NEWPORT BEACH, CA (Aug. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Pacific Development Group has selected the company to lease approximately one million square feet of retail space at Foothill Ranch Towne Centre (lower left photo) , a four-property retail center in Foothill Ranch.

Eric Lambiase and Walter Pagel, senior vice presidents, as well as Tom Carpenter, associate, of the company’s Retail Group, are marketing the center on behalf of Pacific Development Group.

“Foothill Ranch Towne Centre is excellently located in a high-traffic area,” said Lambiase. “The center offers retailers the opportunity to lease space in a popular destination.”

Foothill Ranch Towne Centre is located at the southwest intersection of Bake and Portola parkways and is within close proximity to Highway 241, largely serving communities between Rancho Santa Margarita and Yorba Linda.

Major tenants include Target, Old Navy, Ralphs, In-N-Out, Michael’s, Regal Cinemas, Staples, CVS, Jo-Ann and Chuck E. Cheese. Currently available space ranges in size from 900 to 3,600 square feet.

For more information, call 949.608.2000, or email Lambiase at Eric.Lambiase@grubb-ellis.com, Pagel at Walter.Pagel@grubb-ellis.com, or Carpenter at Tom.Carpenter@grubb-ellis.com.

Cambridge Provides $30.3M HUD Lean Loan to Refinance Skilled Care Nursing Center in Melville, NY

CHICAGO, IL--Cambridge Realty Capital Companies reports closing a $30.2 million FHA-insured HUD Lean mortgage to refinance the Huntington Hills Center for Health & Rehabilitation, (top left photo)  a 320-bed skilled care nursing facility in Melville, N.Y.

Cambridge Chairman Jeffrey A. Davis (lower  right photo)  said the fully-amortized, 30-year term loan was arranged for the owner, a New York limited liability company.

The loan was coordinated by Cambridge’s National Origination Manager Hymie Barber and underwritten by Cambridge Realty Capital Ltd. Of Illinois, the Cambridge business unit that specializing in underwriting HUD Lean loans.

Davis said Cambridge utilized HUD’s Section 232 pursuant to Section 223(a)(7) Lean financing program for borrowers refinancing an existing HUD loan. The loan was processed in the “Green Lane,” a special queue created by HUD for processing low-risk loans.

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 a national origination office in Los Angeles, and numerous correspondent and brokerage relationships nationwide.

Contact: Evan Washington, Phone: (312) 521-7604, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com

New South Florida Threshold: 100,000 Bank Repos Since 2007

MIAMI, FL---More than 100,000 properties - or an average of 2,300 per month - have been repossessed in the tricounty South Florida region since the real estate crash began in 2007, according to a new report from
CondoVultures.com.

Lenders surpassed the 100,000 threshold on Thursday, Aug. 19, when 317 properties were repossessed in Miami-Dade, Broward, and Palm Beach counties, according to the report based on the Condo Vultures® Foreclosure Database™.

For the year through Aug. 20, lenders have taken back more than 33,600 South Florida properties, which already outpaces the 30,400 tricounty properties repossessed in 2009 and the nearly 26,250 in 2008, according to the report based on the government records from Miami-Dade, Broward, and Palm Beach counties.

"To get a grasp of South Florida's real estate crash, consider that lenders have repossessed an average of 75 properties per day since January 2007, which is a span of more than 1,300 days," said Peter Zalewski, (middle right photo)  a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"For context, consider that lenders are repossessing about 40 percent of all South Florida properties where a foreclosure filing has been initiated by a lender. Going forward, we expect the number of bank repossessions to slow as foreclosure filings for the year are down by about one-third in 2010 compared to 2009."

Condo Vultures® is hosting a Sept. 14 seminar entitled "Concerns Grow About Possible Double Dip In South Florida Real Estate" with three local experts who will explore the possibility that a further erosion of consumer confidence will play a factor in another residential market tumble.

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

Arbor Closes Loans in Virginia and Massachusetts

 $1,477,500 Fannie Mae DUS® Small Loan Closed for 357 Main in Hyannis, MA

Uniondale, NY (Aug. 23, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,477,500 loan under the Fannie Mae DUS® Small Loan product line for the 21-unit building known as 357 Main (top left photo)  in Hyannis, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.97 percent.

The loan was originated by John Kelly, Vice President, in Arbor’s full-service Boston, MA, lending office.

“Arbor was pleased to provide a cash-out refinancing for this long-term owner,” Kelly said. “This asset has a mix of commercial tenants and apartments units.

"Our small balance program for multifamily assets continues to be the best source of financing available in the market. We look forward to growing this partnership.”

Lansdale Gardens Apartments in Norfolk, VA Gets $2M Loan

Uniondale, NY (Aug. 23, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,000,000 loan under the Fannie Mae DUS® Small Loan product line for the 96-unit complex known as Lansdale Gardens Apartments (bottom left photo) in Norfolk, VA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.62 percent.

The loan was originated by John Kelly, (bottom right photo) Vice President, in Arbor’s full-service Boston, MA, lending office.

“Arbor was pleased to provide financing for this well-managed asset,” Kelly said. “Our small balance program for multifamily assets continues to be the best source of financing available in the market. We look forward to growing this partnership.”

Contact:  Christopher Ostrowski, costrowski@arbor.com