Craig Seaward Heads Up W Retreat & Spa Bali-Seminyak as General Manager

 Craig Seaward (top right photo) leads the energetic team of the much-anticipated W Retreat & Spa Bali-Seminyak (bottom left photo) as a General Manager.

 In his role, he heads-up the innovative, design-led hotel category buster, which is set to mark its debut in Seminyak, Bali this 15 December 2010.

Craig’s stint in Bali started in the year of 1991 when he was offered an opportunity as a Director of Food & Beverage in The Laguna Bali Nusa Dua, then expanded the spectrum of his role and spearheaded the operations in The Westin Bali and the Bali International Convention Center.

 A South African national with nearly three decades of experience in the hospitality circuit, Craig has forged an outstanding career across regions covering various locations such as Zimbabwe, South Africa, China, South Korea, Australia and Indonesia. 

Through his career, he has spent 20 years with Starwood Hotels & Resorts as a General Manager for Sheraton in Yogyakarta, Surabaya and Perth, Australia and The Westin Chosun, Busan in South Korea.

 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

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

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JER Special Servicing Selects Grubb & Ellis to Market Office and Retail Portfolio in Roseville, CA

 WALNUT CREEK, Calif. (Sept. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Steven Golubchik and Nicholas Bicardo, vice presidents, Private Capital Markets, have been selected to market for sale a three-asset office and retail portfolio totaling 210,000 square feet in Roseville. 

The three properties, Stoneview Plaza (top left photo), Eureka Ridge Plaza and Fairway Commons II, will be sold out of receivership on behalf of JER Special Servicing. 

“This portfolio consists of high quality properties that are among the best in the market,” said Golubchik.  “We anticipate tremendous interest and are excited to have the opportunity to sell them on behalf of JER Special Servicing.”

Located at 3001 Lava Ridge Court, Stoneview Plaza is a three-story Class A office building offering 108,300 square feet of space situated on approximately 5.5 acres of land.

The building is approximately 83 percent leased to a variety of tenants, including mortgage, law and realty firms.  Constructed in 2005, Stoneview Plaza is located in downtown Roseville and provides unobstructed views of the Sierra Nevada Mountains.  The property is within close proximity to Interstate 80 and Highway 65.

Eureka Ridge Plaza is an institutional quality 37,000-square-foot retail strip center located at 1470-1490 Eureka Road.

Anchored by Crush 29, a high-end restaurant, the property was constructed in 2005 on 4.2 acres of land.  Eureka Ridge Plaza is situated at the intersection of

Eureka Road and Rocky Ridge Drive, a significant retail hub in Roseville.  The center is within close proximity to Interstate 80. 

Fairway Commons II is a community retail center consisting of 65,000 square feet of space situated on 4.8 acres of land.  Located at 10241 – 10271 Fairway Drive, the property offers a direct exit from Highway 65.  The retail center was formerly anchored by Circuit City. 

For more information, call 925.939.3500, or

contact Golubchik at steven.golubchik@grubb-ellis.com

 or Bicardo at nicholas.bicardo@grubb-ellis.com.

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

 

Kevin Holland Joins Grubb & Ellis Company as Vice President, Debt & Equity Finance

HOUSTON, TX (Sept. 23, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Kevin Holland (top right photo) has joined the company as vice president, Debt & Equity Finance. 

 He will work closely with Jeff Majewski, who joined the company in April as executive managing director, Debt & Equity Finance. 

“Kevin is a seasoned professional with an in-depth understanding of the mortgage banking industry.  He is an excellent addition as we grow our Houston office as we expand our both our capabilities and presence in the market,” said Jim Adams, executive vice president and managing director of Grubb & Ellis’ Houston office. 

Holland joins Grubb & Ellis from Rising Sun Resources LLC, a private firm he founded in 2008 that provided clients with risk evaluations of commercial mortgage-backed securities and assisted in the potential acquisition of nonperforming and sub-par loans. 

 Previously, he was a loan officer at Grandbridge Real Estate Capital, where he originated and closed real estate debt valued in excess of $122 million.  Prior to joining Grandbridge in 2006, Holland spent three years as the director of acquisitions for Equity One Inc.  He began his career as a financial analyst in 1998. 

Holland holds a bachelor’s degree from Southern Methodist University.

Contact:          Julia McCartney                                  

Phone:             714.975.2230                                    

Email:              julia.mccartney@grubb-ellis.com     

Stirling Sotheby’s International Realty Named Exclusive Sales, Marketing Agents at Damai, near Disney World

ORLANDO, FL --- Stirling Sotheby’s International Realty (www.StirlingSIR.com) has been named exclusive sales and marketing representatives at Damai (DamaiOrlando.com), a new luxury town home community that recently opened in World Gateway off International Drive next to Disney World.

Roger Soderstrom (lower right photo), founder and owner of Stirling Sotheby’s International Realty, said Damai is under development by World Gateway Parcel B LLC who has spent several years developing the concept for the community which is unique to the Orlando area.

 Damai, with an Asian flair, is surrounded by pathways and gardens that create a tranquil and relaxing atmosphere, and is situated near several golf courses and the attractions.  The community includes a beautiful pool, sun deck, spa and fitness center.

Soderstrom said construction was just completed on the first 12 town homes at Damai. Eighty-five town homes are planned with upgrades that include granite counters, cherrywood cabinets, stainless steel appliances, hardwood floors and double-insulated windows.  Prices start from the $300s

.

 Soderstrom said target homebuyers at Damai will include affluent European, South American, Canadians and Asian families who visit area attractions frequently, American and international investors, active adults from the northeastern and Midwestern states along with area professionals.

The onsite sales center at Damai is open seven days a week from 10 a.m. to 6 p.m. and Sunday’s from noon to 6 p.m.

For more information, contact

Roger Soderstrom, Stirling Sotheby’s International Realty 407-581-7890 rsoderstrom@stirlingsir.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Arbor Closes $1,089,200 Fannie Mae DUS® Market Rate Coop Loan for Vernon House Cooperative in Philadelphia, PA

Uniondale, NY (Sept. 23, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,089,200 loan under the Fannie Mae DUS^® Market Rate Coop product line for the 48-unit complex known as Vernon House Cooperative (top left photo)  in Philadelphia, PA. The 10-year loan amortizes on a 30-year schedule.

The loan was originated by Edward Petti, Director, in Arbor’s full-service New York, NY, lending office. “We refinanced an existing loan for the cooperative to assist in a capital improvement plan,” Petti said. “This refinancing raised capital for the preservation of affordable rental housing in Philadelphia.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

MBA Analysis: Commercial and Multifamily Mortgage Debt Outstanding Declined $52 Billion or 1.6 Percent in 2Q 2010

 Washington, DC (Sept/ 23, 2010) - The level of commercial/multifamily mortgage debt outstanding decreased in the second quarter, to $3.24 trillion, according to the Mortgage Bankers Association's (MBA) analysis of the Federal Reserve Board Flow of Funds data.

 Declines were driven by drops in commercial and multifamily mortgages held in CMBS and loans held by banks and thrifts.

 The $3.24 trillion in commercial/multifamily mortgage debt outstanding recorded by the Federal Reserve was a decrease of $52 billion or 1.6 percent from the first quarter of 2010.  Multifamily mortgage debt outstanding declined to $843 billion, a decrease of $5.4 billion or 0.6 percent from the first quarter of 2010.

 "Demand for commercial and multifamily mortgages, while increasing, remained weak in the second quarter and contributed to the continuing trend of loans paying down and paying off faster than new ones replace them," said Jamie Woodwell (top right photo), MBA's Vice President of Commercial Real Estate Research.

 "As a result, the balance of mortgage debt outstanding declined for every major investor group with the exception of Fannie Mae's, Freddie Mac's and FHA/Ginnie Mae's multifamily portfolios and MBS."

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

            

MBA Hails Extension of National Flood Insurance Program

 WASHINGTON, D.C. -- Robert E. Story, Jr., (top right photo)  CMB, Chairman of the Mortgage Bankers Association (MBA) hailed yesterday's passage in the Senate of legislation to extend the National Flood Insurance Program (NFIP) through September 30, 2011. 

 "With the Senate's unanimous bipartisan vote last night, we urge the House to move quickly and pass this one year extension.

 "Flooding is the most common natural disaster in the United States. In fact, more than five million Americans rely on the National Flood Insurance Program as their primary protection against flooding.

“This program has expired regularly in recent times, which has frustrated residential and commercial lenders and borrowers alike.

"I want to thank Senator David Vitter (middle left photo) for sponsoring this bill and the Senate for moving quickly to pass this much needed extension.

“ It is critical that the House passes S. 3814, the National Flood Insurance Program Re-extension Act of 2010, so we can end the uncertainty for lenders and borrowers who rely on this critical program to insure residential and commercial properties." 

 Without House and Senate agreement on an extension, the program will expire on September 30, 2010.

Contact: Sarah Tinsley  (202) 557-2730                      stinsley@mortgagebankers.org

           

Wyndham Hotel Group to Franchise Planet Hollywood Hotels

PARSIPPANY, N.J. – Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN) and the world’s largest hotel company with nearly 7,200 hotels announced a license agreement with Planet Hollywood Resorts International, LLC to franchise the Planet Hollywood Hotels® brand and provide management services globally.

The Planet Hollywood brand was founded in 1989 by Robert Earl (top right  photo) , founder and chief executive officer of Planet Hollywood International, Inc., Planet Hollywood Resorts International, LLC and chairman of the Planet Hollywood Resort & Casino in Las Vegas.

Planet Hollywood capitalizes on the global appeal of movies, sports, celebrity and entertainment-based themes. Planet Hollywood International, Inc. will continue to own Planet Hollywood brand trademarks and intellectual property.

“The addition of an entertainment-based hotel offering will complement Wyndham Hotel Group’s strong global portfolio by expanding its appeal to a much wider audience,” said Eric Danziger (lower right photo), Wyndham Hotel Group president and chief executive officer.

 “Planet Hollywood is a world-renowned brand favored by travelers and developers who crave unique experiences, distinctive dining and outstanding service. We are especially proud to work with Robert Earl, a dynamic entrepreneur, as we look to expand the brand in key tourist hotspots around the world.”

Wyndham Hotel Group will offer developers the choice of various levels of entertainment-based concepts for hotel development opportunities based on hotel or resort size and geographic location.

Commenting on the new relationship, Earl said, “We elected to work with Wyndham Hotel Group because of the company’s scale and reputation as a global brand-builder, which will benefit the future of the Planet Hollywood Hotels brand.

"This strategy will create long-term synergies between our companies and take Planet Hollywood development opportunities to a whole new level. Most importantly, I know that our brand is in the best hands with Eric Danziger and Wyndham Hotel Group.”

CONTACT:

Evy Apostolatos

Director, Public Relations

Wyndham Hotel Group

22 Sylvan Way

Parsippany, NJ 07054

+1 (973) 753-6590

evy.apostolatos@wyn.com

Amy Sadowsky

Vice President, Public Relations

Planet Hollywood International, Inc.

+1 (702) 785-9155

asadowsky@planethollywoodintl.com

Where in the World is W going and growing? – Taipei Lights On!

  TAIPEI, Taiwan  – W Taipei lighted up the skies of Taipei recently as it turned on the skyline W signs and exterior lights, celebrating another milestone in the progress towards its opening at the end of the year. 

Located in the buzzing central business “District of XY-Xinyi”, akin to downtown Manhattan; Central, Hong Kong or Roppingi Hills, Tokyo, W Taipei will introduce the “W lifestyle hotel” concept into one of Asia’s hippest and most cosmopolitan cities, tapping into the pulse of Taipei’s nightlife scene, where the city’s music, fashion and entertainment industries converge.

 Rising 31 floors, W will be the only hotel in Taipei with a panoramic vistas of the hip and happening Xinyi district and within walking distance from the Iconic Taipei 101—one of the world’s tallest buildings — which stretches 508 meters into the sky.

 Back on earth W Taipei will serve as the ultimate city getaway, where a veritable “urban beach” flirts with the senses at every touch point and natural elements combine to complement modern digital accents. W Taipei brings these elements together, forming a stimulating integrated space.

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

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

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McCarthy Building Companies and CHOC Children’s Help Raise $338,000 by Building a Playhouse for HomeAid Orange County’s Project Playhouse® Event

NEWPORT BEACH, CA-– McCarthy Building Companies, Inc., (www.mccarthy.com), in partnership with CHOC Children’s recently built a technologically advanced playhouse for HomeAid Orange County’s 19th Annual Project Playhouse® fundraiser.

This is the second year in a row that McCarthy and CHOC have teamed to build a playhouse for the Project Playhouse® event.

 The playhouse was built with thousands of dollars worth of services and supplies donated by McCarthy Building Companies along with various subcontractors and vendors.

 The McCarthy and CHOC Children’s playhouse is HomeAid’s “opportunity drawing playhouse” which is the only playhouse that could be won by purchasing $2 raffle tickets.

Six additional playhouses were donated by other building teams and sold at a live auction party on September 10.

Approximately $338 thousand was raised for HomeAid Orange County through the Project Playhouse® event.

 All of the playhouses were on display in the Project Playhouse® Village from July 31 to September 10 at the Irvine Spectrum Center ®. (bottom left photo)

 During the event, the McCarthy/CHOC playhouse received two awards given by HomeAid Orange County —

 The Grand Award (First Place) and Secret Garden Award (Best Landscape Design).

 “Historically, Project Playhouse builder teams were residential home builders,” said, Gina Scott, HomeAid Orange County, Director of Development.

 “McCarthy Building Companies was one of our first commercial builders, and they have done an exceptional job of adapting their talents and resources to create innovative playhouses that are popular with children and adults.

“ We deeply appreciate McCarthy’s generous support and the incredible participation from the McCarthy Heart Hats.”

Contact: 

 Laura Mickelson (LM Communications), (949) 453-0851

 Susan Garritano (McCarthy Building Companies, Inc.), (314) 968-3300