23rd Hunter Hotel Investment Conference in Atlanta Logs Near-record Pre-registrations

ATLANTA, GA,  Feb. 23, 2011—Officials of the upcoming Hunter Hotel Investment Conference, one of the four major national annual hotel investment conferences, today said that a faster than anticipated hotel industry recovery has resulted in unexpectedly high pre-event registrations for the Conference to be held March 6-8 at the Atlanta Marriott Marquis in Georgia. 

“Pre-registration is the second highest in our 23-year history,” said Bob Hunter (top right photo), CEO of Hunter Realty and conference co-chair.  “Rising occupancies and positive movement in average daily room rate have certainly brightened the outlook.  Feedback from registrants indicates high interest in doing transactions and the improving financing environment”

A key indicator of the prevailing optimism is a return of lenders in large numbers to the conference, according to Lee Hunter (middle left photo), conference co-chair. 

“We already have 24 lenders attending and expect that number to climb,” he said.  “With substantially more hotels coming to market, both by owners and special servicers, we are already seeing considerable activity on the transaction front. 

“We expect a lot of interest in our panels on hotel values, ranging from what’s my hotel worth to buying and selling today.”

The conference is targeted to hotel owners and draws the largest percentage of investors and owners of all the major hotel investment conferences.

 Content this year is designed to provide that group with the creative strategies to take maximum advantage of the rebound.  The Hunter Hotel Investment Conference will present more than 100 speakers from 27 states in 25 sessions.

For more information on the program and to register, please visit the conference website at http://www.hunterconference.com/, or contact Bob Hunter or Nancy Petenbrink, Conference Director, at 770-916-0300 or by email at nancy.petenbrink@hunterhotels.net

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The conference headquarters is located at 300 Galleria Parkway, S-620, Atlanta, Ga. 30339.

Contact:  Jerry Daly, Chris Daly, Patrick Daly, Daly Gray Public Relations, (703) 435-6293

              

New Faces and Recognition at Grubb & Ellis

Robin Newton Appointed Vice President, Retail Group in Walnut Creek, CA

WALNUT CREEK, CA (Feb. 23, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that 27-year commercial real estate veteran Robin Newton (top right photo) has joined the company as vice president, Retail Group. 

 “With her expertise and successful track record, Robin will be a great resource for the company and our clients,” said Edward F. Del Beccaro, managing director, Walnut Creek.  “She is a tremendous addition to our growing team of high caliber retail professionals and will help us remain on the forefront of building our market share and facilitating our clients’ needs.”

Specializing in tenant and landlord representation, Newton joins Grubb & Ellis from Cornish & Carey Commercial Newmark Knight Frank.

Todd Henderson Joins Grubb & Ellis Landauer Valuation as Managing Director, Seattle

SEATTLE, WA  (Feb. 22, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Todd Henderson has joined Grubb & Ellis Landauer Valuation Advisory Services as managing director of its Seattle office.

“In Todd’s 18 years in the commercial real estate industry, he has developed a deep understanding of many property types throughout the Pacific Northwest,” said Chad Campbell (middle left photo), senior managing director, Pacific Northwest, Grubb & Ellis Landauer Valuation Advisory Services.  “I’m confident that we will be able to leverage Todd’s expertise and extensive relationships to help grow our business in Seattle.”

Henderson joins the company from CB Richard Ellis Valuation Advisory Services, where he was a senior appraiser.

 Contact: Julia McCartney, Phone: 714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

Matthew Stoehr Named One of the ‘Top 35 to Watch’ by Realcomm

SANTA ANA, CA -- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced Matthew Stoehr (lower right photo), chief information officer, has been named one of Realcomm’s “Top 35 to Watch in 2011.” 

The distinction honors individuals and organizations that are committed to furthering the use of innovative technologies in the commercial and corporate real estate industries.  This is the second time Stoehr has been named to the list.

 The distinction recognizes Stoehr in part for his role in orchestrating Grubb & Ellis’ strategic alliance with Manhattan Software, a first-of-its-kind information management system platform that combines Grubb & Ellis’ world-class real estate experts with an enterprise-system-level integration of all functions of real estate.

 Stoehr was previously honored by Realcomm in 2008.  He joined NNN Realty Advisors in 2005 and became the chief information officer of Grubb & Ellis after the companies merged in 2007. 

 For more information about Grubb & Ellis’ alliance with Manhattan Software, visit http://www.remanagementrevolution.com/

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Contact:  Erin Mays, Phone, 312.698.6735                              

Email:  erin.mays@grubb-ellis.com

               

          

HFF arranges $38 million in refinancing through Freddie Mac for Tampa area multi-housing communities

  

MIAMI, FL – HFF announced today that it has arranged refinancing totaling $38.0 million through Freddie Mac for The Addison (top left photo) and Courtney Trace Apartments (lower right photo) in Brandon, Florida.

HFF worked on behalf of a partnership between Case Pomeroy Properties and ContraVest to secure the two seven-year securitized loans, which will refinance construction loans originated when the properties were developed in 2006 and 2007. 

The loans, both with interest rates below five percent, will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  

The Addison and Courtney Trace are located at 2516 Annapolis Way and 1131 Courtney Trace Drive respectively, close to the Westfield Brandon Mall, Interstate 75 and the Lee Roy Selmon Expressway in Brandon.

  Both communities feature one-, two- and three-bedroom units and community amenities such as a fitness center with towel service, resort-style pool, tanning studio, sundeck area with grills, pet walk and care stations, and the security of a gated community.

The HFF team representing the borrower included director Elliott Throne and managing director Jim Cadranell.

Based in New York, New York and Jacksonville, Florida, Case Pomeroy Properties is a private company holding interests in real estate projects primarily in the southeastern United States. 

ContraVest is a private multi-housing development, construction, and property management company that was founded in 1986 and is based in Altamonte Springs (Orlando), Florida.

Contacts:

Elliott P. Throne, HFF Director, (305) 421-6549, ethrone@hfflp.com

Kristen R. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com,

                                                                                                                 

100 Florida Condo Projects Lose Fannie Mae Financing Approval

MIAMI, FL--More than 100 new, Florida condominium projects - including 28 in South Florida - have lost their financing approval certification from Fannie Mae in the last six months, making it more challenging for buyers to obtain mortgages when purchasing units in any of the buildings, according to a new report from CondoVultures.com.

As of Feb. 21, 2011, there are 160 new, Florida condominiums with the required financing certification needed for lenders to provide mortgages that would qualify to be resold on the secondary market to the public-private entity Fannie Mae and others that adhere to the same criteria.

The number of approved new, Florida condos could have been even lower if not for 31 new condominiums - with six projects in the tricounty South Florida region - obtaining Fannie Mae certification within the last six months to help offset the number of projects that did not have their approvals renewed, according to an analysis of Fannie Mae documentation. 

 
"Financing a new condo in Florida just got tougher for those buyers who lack the cash to purchase a unit with no mortgage," said Peter Zalewski (top right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"After a surge in new condo project approvals in 2009 and the first half of 2010, dozens of projects have failed to renew their certification with Fannie Mae. The unanswered question is, did the scrutiny become more stringent or did the projects simply decide the approval was unnecessary given the resistance by banks to originate mortgages for new, Florida condo purchases." 

Loan origination trends are to be discussed at the upcoming Condo Vultures® webinar entitled "Buying Mortgage Notes At Deep Discounts" on Tuesday, March 1, from 6.30 pm to 8 pm. Keynote speaker Rich Meyer of the Foreclosure Academy is scheduled to discuss the latest mortgage issues in Florida during the scheduled 90-minute live broadcast.

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

Hendricks & Partners Reports Sales of 3,302 Apartment Units in 2010

ORLANDO, FL--- The Orlando office of Hendricks & Partners, the nation’s largest multi-family advisory and research firm, reported it negotiated sales of 10 apartment properties in 2010 that total 3,302 units in the Southeast.

Cole Whitaker (top right photo), partner who heads the Orlando office of Hendricks & Partners and oversees the firm’s operations throughout the Southeast, said he and associate partner Hal Warren (lower left photo) negotiated all 10 multi-family property sales as well as sales of three Florida development sites that total 402 acres.

Multi-family property sales included two student housing properties, Whitaker said.

“We project that transactions involving apartment properties will increase in 2011 as the economy improves,” Whitaker said.

“We don’t foresee significant new construction region-wide,” Whitaker said, “However, in certain submarkets in the southeast, it makes sense to consider new multi-family development and we expect to see some new construction,” he said.

For more information, contact:  

Cole Whitaker, Southeast Partner, Hendricks & Partners 407-218-8880 cwhitaker@HPAPTS.com

Hal Warren, Associate Partner, Hendricks & Partners 407-218-8881 hwarren@HPAPTS.com;

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

  

Industry Expert Says REITS Have Unique Ability to Benefit from Distressed Asset Sales

ATLANTA, GA, Feb. 22, 2011 – While the trauma is likely to continue in commercial real estate, that doesn’t necessarily mean REITS will suffer, said Brad Case (lower left photo), senior vice president at National Association of Real Estate Investment Trusts. In fact, REIT should benefit by taking acquiring distressed assets at discounted prices, he added.

Case made his comments during a guest appearance on the “The Commercial Real Estate Show,” a national talk radio show hosted by Michael Bull  (top right photo) on Biz 1190 WAFS in Atlanta.

“While investors may be forced into a distressed sale, REITS have access to capital and can pick up those properties,” Case said. “To a great extent, the bad news that people read about commercial mortgage defaults and distressed assets amounts to good news for REIT investors.”

Case was one of several guests on the most recent show, which focused exclusively on REITS.

Another guest, Jonathan Miniman, senior vice president at ING Clarion Real Estate Investment Management, said “U.S. REITS are expected to have positive earnings growth in 2011 and accelerating in 2012.” The entire show is available for download.

The next “Commercial Real Estate Show” will air Feb. 26 and will focus on asset and property management strategies. Guests will include Victor Calanog, director of research at Reis; Ron Goss, president of the Institute of Real Estate Management; Beth Machen, secretary treasurer of the Institute of Real Estate Management; and Harry Conley, president and CEO of Fifth Street Management Company.

Contact:  Laura Dudebout, (678) 642-4301

ldudebout@wilbertnewsstrategies.com