Trump Name On Half Of Unsold Sunny Isles Beach Condos

Nearly half of the 1,000 completed condominium units that were still unsold in Sunny Isles Beach at the end of the third quarter of 2010 are located in the six condo projects bearing the name of the successful New York developer Donald Trump, according to a new report from CondoVultures.com.

Nearly 500 units out of more than 1,800 Trump-named condos constructed on the ocean side of Collins Avenue since 2003 are not sold as of Sept. 30, 2010, according to the report based on the Condo Vultures® Official Condo Buyers Guide To Sunny Isles Beach™.

In fact, the largest concentration of unsold units in Sunny Isles Beach is located in the Trump Tower III (top left photo), where not a single unit had closed in the 271-unit project as of the end of the third quarter of this year, according to Miami-Dade County records.

"The fact that such a large percentage of the Trump-named units are unsold has more to do with the number of condos constructed rather than the product type," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "Many buyers are attracted to the condo product bearing the Trump name. At the right price, today's all-cash buyers will consider purchasing a unit or two in one of the half-dozen Trump projects standing in Northeast Miami-Dade County."

Buyers acquired more than 65 units in a Trump-named project in Sunny Isles Beach in the third quarter of 2010 for a combined $58 million. This works out to an average sales price of $440 per square foot.

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

Supertel Hospitality Reports 2010 Third Quarter Results

NORFOLK, NB,  Nov. 10, 2010 – Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 106 hotels in 23 states, today announced its results for the third quarter ended September 30, 2010.

• Revenue from continuing operations rose 6.5 percent

• Net loss per diluted share of $(0.02) compared to prior year net loss of $(0.06) per diluted share.

• FFO of $0.10 per diluted share, and FFO without impairment of $0.15 per diluted share

• Revenues from continuing operations for the 2010 third quarter rose 6.5 percent to $24.9 million, compared to the same year-ago period.

• Net loss attributable to common shareholders for the 2010 third quarter was $(0.5) million, or $(0.02) per diluted share, compared to net loss attributable to common shareholders of $(1.4) million, or $(0.06) per diluted share, in the 2009 same quarter.

• The $0.9 million improvement in earnings was primarily the result of an increase in revenue from continuing operations.

For a complete copy of the company’s news release and financials, please contact:

Jerry Daly, Carol McCune, Daly Gray, (Media Contact), 703.435.6293, jerry@dalygray.com

ARA Arranges Sale of 264 Units in Tampa, FL

TAMPA, FL (Nov. 11, 2010) — The Central/North Florida offices of ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of the 264-unit Reflections at Carrollwood (top left photo) apartment community in Tampa, FL.

The transaction was arranged by the ARA Central/North Florida team of Kevin Judd (middle right photo) , Patrick Dufour (middle left photo), and Dick Donnellan (lower right photo).

 ARA represented the seller, Jackson Square Properties, a San Francisco, CA-based privately-held real estate operating company in the transaction.

The community was purchased by an undisclosed local investor for $12,925,000.š The property was built in 1982 and features 264 units in one of the most desirable submarkets of Tampa.š

The property features a variety of one- and two-bedroom floor plans with an average unit size of 729 square feet.š

 “The buyer is very familiar with the Tampa market and owns several properties in the immediate area. They believe in Tampa’s underlying fundamentals long-term and see significant upside in the market in the near term, ” said ARA Florida's Tampa-based Vice President, Patrick Dufour.

 Reflections at Carrollwood is a well-located, fully-stabilized asset with strong historical operations.š The property is located in a stable, mature submarket of Tampa and has averaged well over 90% occupancy over the past three years.š Additionally, the existing owner has upgraded several unit interiors and is achieving rent premiums for those units.

“Reflections at Carrollwood provides the buyer with excellent in-place cash flow and the ability to increase rents through overall market recovery and continuing the interior upgrade program,” noted ARA’s Orlando-based Principal, Kevin Judd.  “The buyerhad to assume two loans from Fannie Mae, both with favorableinterest-only financing,” 

Reflections at Carrollwood is located in the heart of the Carrollwood submarket, with the easy access to major employment centers and ample shopping and entertainment venues.š Individual units at the property feature fully-equipped kitchens, walk-in closets, screened patios or balconies and additional storage. Community features include clubhouse, pool, fitness center and business center.

To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson (lrobinson@ARAusa.com) or Amy Morris (amorris@ARAusa.com) at (404) 495-7300; locally, please contact

For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com.

  Marti Zenor mzenor@ARAusa.com, Director of Marketing

ARA  Florida, 777 Yamato Road, Suite 140 Boca Raton, FL 33431

561.988.8800 x112 Direct  954.205.5207 Cell  561.988.8810 Fax

Marcus & Millichap Sells $6.9 Million Los Angeles Apartment Building in 1031 Exchange

 COSTA MESA, Calif., Nov. 11, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has executed a 1031 exchange involving two Southern California multifamily properties.

The firm arranged the sale of an 18-unit apartment building at 1420 Kelton Ave. (lower right photo) in Los Angeles, and used the proceeds to negotiate the acquisition of the 40-unit Villa Cordova (top left photo) in Costa Mesa.

Justin White, a vice president investments; John Vorsheck (middle right photo), a senior associate; and Rebecca Caldwell, a multifamily investment specialist, all based in the Long Beach office, found the replacement property using Marcus & Millichap’s unique brokerage platform, which provides sellers with access to a nationwide pool of investment capital and encourages cooperation between brokers.

The Long Beach office worked with John L. Nguyen (lower left photo), a vice president investments in Newport Beach, on this transaction.

“This transaction is indicative of the investment opportunities available in today’s market,” explains White.

“Our client improved his cash flow; now owns a newer property; has more two-bedroom units, which are historically the most-sought after; and has new depreciation to offset increasing taxes.

“We also advised our client on a long-term investment strategy, which is always exciting. Right now, investors have the opportunity to trade up, and we enjoy working with those who are utilizing our expertise to make profitable deals, while others remain on the sidelines.”

Located at 2323 Elden Ave. in Costa Mesa, Villa Cordova includes 26 one-bedroom units and 14 two-bedroom units.

 Located in the highly desirable East Costa Mesa residential neighborhood, properties of this size rarely come to market.

The property is situated on a large lot providing the tenants a quiet park-like setting with ample parking and enclosed garages.

The value of the Villa Cordova sale was $172,375 per unit.

“Because of the high quality of this asset, there was an extremely large amount of interest, enabling us to close the Villa Cordova sale in a record 22 days,” explains Nguyen.

 “This transaction provided the buyer with an excellent opportunity to create immediate value by upgrading the interiors and increasing the rents, which were 10 percent to 15 percent below market,” says Nguyen.

1420 Kelton Ave., an 18-unit apartment complex, is located in the heart of Los Angeles’ Westwood neighborhood. Built in 1968, 1420 Kelton Ave. is ideally located just minutes from UCLA, Westwood Park, Century City and Beverly Hills. The apartment building encompasses 14,166 square feet.

Press Contact: Stacey Corso, Public Relations Manager, (925) 953-1716       

Berger Commercial Realty Corp. Announces New Hire

 FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla. and serving clients around the state, announced Cindy Rios has been hired as a property manager.

 Rios has more than six years of real estate experience. She was previously an assistant property manager at Stiles Corporation. At Berger Commercial Realty Corp., Rios will be responsible for overseeing a property portfolio consisting of Parkway Lauderhill, University Park, Nova 95, and Palm Crossing.

 Rios graduated from Miami Dade College. She is a resident of Miami.

  For more information, visit http://www.bergercommercial.com/.

Contact:  Marielle Sologuren, Pierson Grant Public Relations, (954) 776-1999 ext. 226, msologuren@piersongrant.com

Grubb & Ellis Company Represents The John Buck Company in Sale of Markel Midwest Headquarters Building in Deerfield, IL

ROSEMONT, IL (Nov. 11, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that its Institutional Capital Markets group represented The John Buck Company in the sale of Ten Parkway North (top left photo) in Deerfield, a 99,566-square-foot Class A office building, to CBRE Realty Trust. 

The building is fully leased to Markel Midwest Inc.

Paul Lundstedt (middle right photo), executive vice president, Institutional Capital Markets, Jeff Shell, executive vice president, Corporate Finance, and John Gavin (lower left photo), Institutional Capital Markets, facilitated the sale. 

 “This is a great example of a well-located, fully leased core asset trading at a premium despite market conditions,” said Lundstedt.  “Given the relative strength of the North Suburban submarket and the fact that the lease in place runs through 2020, this opportunity was one that drew considerable activity.”

 Built in 1999, Ten Parkway North is part of a best-in-class, master-planned suburban office park that includes six office buildings totaling just over one million square feet and a 251-room Marriott Suites hotel with more than 3,000 square feet of conference space. 

The park is situated at the union of the Tri-State Tollway and the Edens Expressway, locating it within 20 minutes of O’Hare International Airport and 30 minutes from downtown Chicago. 

Contact:  Erin Mays, Phone 312.698.6735, Email: erin.mays@grubb-ellis.com

                

Grubb & Ellis Commercial Florida Negotiates REO Sales of Six Treasure Island, FL Condos Totaling $2.956 Million

 TAMPA, FL-- Grubb & Ellis|Commercial Florida recently negotiated REO sales of six 2,650 square foot waterfront condominiums on Treasure Island for a total of $2,956,000.00. 

 Nat Barganier (top right photo), executive director of the Grubb & Ellis|Commercial Florida Distressed Property Services Group, negotiated the six sales to multiple local buyers, and was also the court appointed receiver of the St. Petersburg based bank-owned property.

 Bargainer said the condominiums were part of a portfolio of nine bank-owned luxury Serena Bay Condominiums (lower left photo) at 260 108th Ave. in Treasure Island overlooking Boca Ciega Bay.

  Grubb & Ellis|Commercial Florida handled the sale of the other three condominiums earlier this year for $1.995 million.

 “For the buyers, these sales represent tremendous value for high-end residential property.  For the lender, we are able to remove more distressed properties from their books at an agreeable price,” said Barganier.  

Contacts:

Nat Barganier 813-639-1111 ext. 205

Jeffrey Sweeney, SIOR 407-481-5387

Larry Vershel Communications 407-644-4142

NAI Realvest negotiates Renewal Lease for 11,034 square feet of Class A office space at The Citadel in Southeast Orlando

ORLANDO, Fla. – NAI Realvest recently negotiated a renewal lease agreement for 11,034 square feet in Citadel International a Class A office building located at

5950 Hazeltine National Drive

in southeast Orlando.

Senior Associate Mary Frances West (top right photo), CCIM negotiated the lease transaction on behalf of the landlord, Citadel Partners, Ltd., based at The Villages. 

The tenant is Orlando-based Pentaho Corporation, a business intelligence system integration firm.   The tenant was represented by Greg Morrison of Morrison Commercial Real Estate.

NAI Realvest is exclusive management and leasing representative for the property and West leads the leasing team at The Citadel that includes NAI Realvest principals Kevin O’Connor and Matt Cichocki.

For more information, please contact:

Mary Frances West, CCIM, Senior Associate, NAI Realvest, 407-875-9989 mfwest@realvest.com;

Matt Cichocki or Kevin O’Connor, Principals, NAI Realvest, 407-875-9989; mcichocki@realvest.com; koconnor@realvest.com;

 Patrick Mahoney, President  NAI Realvest 407-875-9989 pmahoney@realvest.com;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142          

Hendricks & Partners Associate Partner Hal Warren elected Chairman of the City of Orlando Historic Preservation Board

ORLANDO, Fla. --- Hal Warren (top right photo), associate partner at Hendricks & Partners in Orlando, was recently elected to a 2nd term as Chairman of the City of Orlando Historic Preservation Board.

Warren was appointed to the board in December, 2007 by Orlando Mayor Buddy Dyer (bottom right photo) and served as vice chairman and most recently Chairman.

Earl Crittenden (middle  left photo) was elected vice chairman for a 2nd term this year.  Earl Crittenden is an attorney with Gray Robinson and also serves as the Chief of Protocol under Mayor Dyer for the City of Orlando.

“The work we do at the Orlando Historic Preservation Board helps to preserve architectural elements and historic neighborhoods that make Orlando a unique city and serving the greater community this way is very rewarding,” Warren said.

Warren has more than 20 years of experience in commercial real estate and formerly served as senior director with Cushman & Wakefield’s Apartment Brokerage Services.

He is a graduate of the College of Business at Florida State University in Tallahassee and has a MBA from the University of Central Florida.

For more information, contact:

Hal Warren, Associate Partner, Hendricks & Partners 407-218-8880

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

.

Rhodes+Brito Architects Awarded Contract to Design $12 Million Renovation Project at Princeton Elementary School in Orlando

ORLANDO, Fla. --- Rhodes+Brito Architects in downtown Orlando was recently awarded a contract to design an addition and renovation of the historic Princeton Elementary School on

Princeton Street

in College Park. 

 The proposed addition will be approximately 50,000 square feet and the existing building will undergo improvements with finishes, mechanical systems and classroom upgrades.

Ruffin Rhodes (top right photo), co-founder and partner at Rhodes+Brito Architects, said the $12 million project will start construction in June of 2011.

The façade of the historic building, which dates from the 1920s, will remain intact, Rhodes said. Additions will include new classrooms and a media center.

For more information, contact:

Ruffin Rhodes, Rhodes+Brito Architects, 407-648-7288 x103 ruffin@rbarchitects.com

 Maximiano Brito, Rhodes+Brito Architects, 407-648-7288 max@rbarchitects.com

 Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)

Top Executive at NAI Realvest appointed court receiver for Lee Vista Plaza in Orlando

MAITLAND, Fla. – Mez R. Birdie (top right photo) CCIM, CPM, SCSM, director of retail and investment services at NAI Realvest, has been appointed court receiver for the Lee Vista Plaza on

South Semoran Blvd.

in Orlando.

As court receiver, Birdie is responsible for management, leasing and sale of the property.  

Birdie said he retained First Capital Property Group to manage and lease the center.

For more information,  contact:

Mez Birdie, CCIM, Director/Retail & Investment Services NAI Realvest 407-875-9989, Mbirdie@realvest.com

Patrick Mahoney, President and COO NAI Realvest, 407-875-9989, pmahoney@realvest.com

 Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142              

WeinPlus Real Estate Advisory Services Marks $3 Million in Savings For Client Companies Over Past 18 Months

ST. PETERSBURG, Fla. --- With a nationwide recession that has centered on the real estate market, commercial property owners are looking hard at ways to reduce costs.

That’s a big plus for WeinPlus, Real Estate Advisory Services, the company headed by architect and development consultant Rachel Elias Wein (top right photo), AIA of St. Petersburg.

Wein, former development manager with the Sembler Company in St. Petersburg and senior associate with Ernst & Young’s Construction and Real Estate Advisory Services in Philadelphia, has saved client companies more than $3 million over the past 18 months with a variety of solutions that range from construction cost control and dispute resolution to organizational process improvement strategies.

Wein offers her clients---Forge Capital Partners in Tampa, Pinellas County Schools and Equity One, Inc. to name a few---more than a sharp pencil and a nose for cost savings.

She earned Bachelor of Design, Master of Architecture and Master of Science in Real Estate Degrees from the University of Florida and was elected to the UF Hall of Fame and Florida Blue Key.

But while strong credentials and a stronger track record might open doors, they don’t earn much respect in a commercial real estate community enduring the worst market in a generation.

“Commercial real estate is all about concrete results,” Wein said. “It’s the bottom line that makes the difference, and the devil is in the details,” she said.

Wein revels in the details.

“With a background in building construction and financial accounting, I’ve been trained to analyze projects on multiple levels concurrently,” Wein said. “It is a discipline anyone can master, but it takes a great deal of hard work, concentration and hands-on experience,” she said.

Seemingly minor changes can result in enormous benefits to a project, Wein said. Likewise, tiny details can have disastrous consequences if overlooked.

For clients such as Publix Super Markets, Inc., Woolbright Development, Englander & Fischer, LLP and Community Reinvestment Partners II, WeinPlus strategy solutions, litigation support and construction cost recovery efforts have earned her a solid reputation for getting results.

“Commercial development and construction are complex processes that take years to complete,” Wein said. “In the best of circumstances there is room for improvement, and there is always room for error,” she explained. “That’s where we can shine.”

For more information, contact

Rachel Elias Wein, AIA, Founder / Principal, WeinPlus, 727-403-1595, http://www.weinplusassociates.com/;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142, lvershelco@aol.com.

 

NAI Realvest Negotiates Lease of 15,045 Square Foot Industrial facility in Longwood, FL

MAITLAND, Fla. – NAI Realvest recently negotiated a lease agreement for 15,045 square feet of industrial/flex space at 260 Hunt Park Cove off

Florida Central Parkway

and SR 434 in Longwood.

NAI Realvest associate Sean DuPree (top right photo), CCIM negotiated the transaction representing the new tenant MasTec North America, Inc., based in Coral Gables.

The landlord, Dunhill Investments, Inc. of Longwood was represented by William St. Laurent of St. Laurent Realty.

For more information,  contact:  

Sean DuPree, CCIM, NAI Realvest 407-875-9989; sdupree@realvest.com;

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com;

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

  

NAI Realvest Negotiates $605,000 Sale of former Arby’s Restaurant Property to FDOT for roadway plans in Casselberry, FL

MAITLAND, Fla. – NAI Realvest recently completed the sale of a 2,599 square foot former Arby’s restaurant on a .66-acre site at 6700 S. US Highway 17-92 in Casselberry for $605,000.

The NAI Realvest team of Kevin O'Connor (top right photo) and Matt Cichocki (lower left photo), principals, negotiated the transaction representing the seller, CNL APF Partners, LLP of Orlando, and the buyer, Florida Department of Transportation (FDOT) in DeLand.  

Cichocki said the FDOT purchased the property as part of its right-of-way acquisition to facilitate the construction of the

US Highway 17-92 /SR 436 flyover.  The property is designated to become a retention pond, per DOT roadway plans.

For more information,  contact:

Matt Cichocki, Principal NAI Realvest, 407-875-9989, mcichocki@realvest.com

Kevin O’Connor, Principal NAI Realvest, 407-875-9989, koconnor@realvest.com

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

New Publix Super Market at Aloma Shopping Center in Winter Park Schedules Grand Opening this month

WINTER PARK, Fla. – The sparkling new Publix Super Market at Aloma Shopping Center in Winter Park will be unveiled at a grand opening on Thursday, Nov. 18 at 8 a.m. 

John Crossman, president of Crossman & Company, said the original store was demolished last April and the newly constructed store has been expanded by more than 5,000 square feet.  The new 47,000 square foot facility includes a liquor store. 

Crossman & Company has been overseeing the redevelopment of the property and handles the leasing and management at the shopping center. 

“The new Publix breathes new life into the entire center,” Crossman said.  “Neighbors have been calling our office with compliments on the new design and are excited about the store opening,” he added. 

A unique feature of this store will be one of the most upscale specialty cheese departments in the Publix chain. 

Other shops at the center include the Aloma Cinema Grill, Pet Supermarket and Fedex/Kinko’s. 

Publix was one of the original tenants along with W.T. Grant Co. and Woolworth when the plaza opened in 1961.

For more information, contact:

John Crossman, CCIM, President, Crossman & Company, 407-581-6218, jcrossman@crossmanco.com;

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

Beech Street Capital Expands into Manufactured Home Community Lending

 BETHESDA, MD, Nov. 10, 2010 – Beech Street Capital announced that Damon B. Reed and Dan Armstrong have joined the firm and will lead the company’s expansion into manufactured home community lending.

Reed and Armstrong are based in the Birmingham, Alabama production office and will be responsible for originating manufactured home community loans on a nationwide basis.

“We are pleased about expanding our portfolio to include MHC loans,” said Grace Huebscher (top right photo), president and chief executive officer of Beech Street Capital.

“This is an asset class where we feel we can leverage our experience and expertise to deliver superior execution for our customers, so we see a lot of opportunity here. Having Damon and Dan on our team ensures our company will be well represented with these borrowers.”

“Beech Street Capital’s streamlined process and focus on the customer will make us a formidable player in this segment of the market,” Reed added.

Reed, a licensed California broker, and Armstrong join the firm as vice presidents. Prior to joining Beech Street Capital, both were with Berkadia Commercial Mortgage.

 The two oversaw manufactured home community lending there and at Berkadia’s predecessors, GMAC Commercial Mortgage and Capmark.

Reed and Armstrong have closed over $2 billion in manufactured

home community loans throughout their careers.

Contacts:

Damon Reed, Office: 205-991-6700, ext. 8191, Mobile: 205-601-2855

Dan Armstrong, Office: 205-991-6700, ext.8192, Mobile: 205-276-6457

  

dreed@beechstcap.com

darmstrong@beechstcap.com

  

Sharee Lawler (240-507-1923)

EMAIL: slawler@beechstcap.com

http://www.beechstcap.com/

33 Inverness Center Parkway, Suite 150

Birmingham, Alabama 35242

HFF arranges $66 million construction/permanent loan for first U.S. location of Radisson Blu in Chicago’s Aqua tower

 CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $66 million construction/permanent loan for the development of the 334-room Radisson Blu Aqua Hotel (top left rendering) within Chicago’s mixed-use Aqua tower. 

HFF senior managing director Michael Kavanau (middle right photo) and director Daniel Kaufman  worked on behalf of the borrowers, Magellan Development and Carlson Hotels, to secure the seven-year construction/permanent financing from MassMutual who was advised by the Chicago finance office of Cornerstone Real Estate Advisers LLC.

 Total cost of the development is approximately $125 million. 

Due for completion in September 2011, the Radisson Blu Aqua Hotel will occupy floors four through 18 of the Aqua tower, an 82-story mixed-use development within the Lake Shore East Development along Lake Michigan.

This will be the first U.S. location for the Radisson Blu hotel brand, an upper upscale brand that has more than 190 hotels in 47 countries.  The location at 225 North Columbus is close to the loop financial district, Millennium Park, North Michigan Avenue and the Chicago lakefront.

“Carlson did an excellent job in selecting the Aqua tower as the location for its first Radisson Blu hotel in the U.S.,” said Kavanau. 

“Aqua tower is the crown jewel of the larger New East Side development and is an instantly recognizable part of downtown Chicago’s skyline,” added Kaufman.

Magellan Development Group is a Chicago based development company with a long track record of successfully operating in various market cycles and across numerous product types. The firm is led by Joel Carlins and James Loewenberg, two of Chicago’s most accomplished development professionals.

Carlson is a privately held, global hospitality and travel company headquartered in Minneapolis, Minn.

Carlson encompasses more than 1,075 hotels, including Radisson®, Country Inns & Suites By CarlsonSM, Park Inn® and Park Plaza®; more than 1,000 restaurants, including T.G.I. Friday’s® and Pick Up Stix®; and a majority stake in Carlson Wagonlit Travel®, the global leader in business travel management.

Carlson operates in more than 150 countries and its brands employ about 150,000 people.

Contacts:                          

Michael A. Kavanau, HFF Senior Managing Director, (312) 528-3650,

mkavanau@hfflp.com

Daniel A. Kaufman, HFF Director, (312) 528-3650, dkaufman@hfflp.com

Kristen M. Murphy,  HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

Marcus & Millichap Sells 130-Room Former Quality Inn in Clarksville, TN

CLARKSVILLE, TN, Nov.10, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the former Quality Inn (top left photo), a 130-room hotel located in Clarksville, Tenn., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $450,000.

Jaimin P. Patel (lower  right photo) a senior associate, and Jonathan S. Ruprai, investment specialist, both in the firm’s Tampa office, and Anne Williams, an investment specialist in the Memphis office, represented the seller, a financial institution based out of Utah.

 The buyer, a private investor in Tennessee, was secured and represented by Ruprai. 

The former Quality Inn was built in 1960 and renovated in 1989.  The property is located at 803 North 2nd Street and is within walking distance to the heart of downtown Clarksville.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

Chatham Lodging Trust to Present at NAREIT REITWorld Conference on November 15

  

PALM BEACH, FL, Nov. 10, 2010—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium branded select-service hotels, will present to investors attending the NAREIT REITWorld Annual Convention, to be held Monday, November 15, 2010 in the Duke of Windsor Room at the Waldorf Astoria hotel, 301 Park Avenue in New York City. 

Jeffrey H. Fisher (top right photo), Chatham’s chairman and chief executive officer, Dennis M. Craven, Chatham’s chief financial officer and Peter Willis, Chatham’s chief investment officer, are scheduled to speak at 10 a.m. ET about the company’s business strategy, growth objectives and recent financial performance.

A live webcast of the presentation will be available at the Chatham Lodging Trust Web site, www.chathamlodgingtrust.com by clicking on “Investor Relations,” then clicking on the presentation link.

A replay of the presentation will be available for 90 days on www.reitstream.com and on the Chatham Web site for seven days after the presentation.  Please go to the site at least 5 minutes prior to the scheduled presentation.

Additional information about Chatham may be found at www.chathamlodgingtrust.com

Contact: 

Jerry Daly, Carol McCune, Daly Gray Public Relations, (Media), (703) 435-6293,  jerry@dalygray.com

Dennis Craven, Chief Financial Officer, (Company),  (561) 227-1386,               

dcraven@cl-trust.com

White Lodging Announces Portfolio Sale of 16 Hotels

 MERRILLVILLE, IN /PRNewswire/ -- White Lodging Services Corporation has closed a deal to transfer 16 of the company's Marriott and Hilton affiliated hotels in seven states to Apple Real Estate Investment Trust Companies (Apple REIT). All properties will remain with White Lodging under long-term management agreements.

White Lodging's relationship with Apple REIT began in 2005, with Apple REIT's acquisition of the Marriott Hotel in Boulder, Colorado.  This current acquisition of the White Lodging properties boosts Apple REIT's ownership to more than 240 hotels across the country.

"The transaction with Apple REIT, one of our industry's most professional and prolific owners of premium branded hotels, provides White Lodging with additional capital to continue executing our strategic growth plan at a time when many of our competitors are merely trying to stay afloat," said Deno Yiankes (top right photo), president and CEO of investments and development at White Lodging.

Yiankes continued by saying, "The fact that our managed portfolio for Apple REIT has grown from one hotel initially to 31 hotels within five years is a direct compliment to the nearly 7,000 White Lodging associates and leaders who serve as the foundation for our continued growth on a daily basis."

Apple REIT began in 1999 and is exclusively associated with two of the most recognized brands in the hotel industry - Marriott and Hilton.  Throughout the years, they have developed a successful formula for owning geographically diverse, high-quality hotels.

The hotels included in the Apple REIT/White Lodging transaction are the SpringHill Suites in Fishers, Indiana and Salt Lake City, Utah as well as the Residence Inns in Mishawaka, Indiana; Phoenix, Arizona; and Mettawa, Illinois.

The Courtyard by Marriott properties that are included are located in Phoenix and Chandler, Arizona and in Austin, Texas.

 Also part of the transaction are Hilton Garden Inn hotels in Mettawa, Warrenville and Schaumburg, Illinois; Austin, Texas; and Novi, Michigan.

Apple REIT will also acquire Fairfield Inn and Suites in Austin, Texas and Chandler, Arizona and one Embassy Suites hotel in Tampa/Brandon, Florida.

White Lodging Services Corporation was established in 1985 and is headquartered in Merrillville, Indiana.

For more information about White Lodging, please visit http://www.whitelodging.com/

 or call 219-472-2900.

Contact:  White Lodging +1-219-472-2900