Real Estate Central

NEW YORK, May 16 /PRNewswire/ — PBS Real Estate today announced that
Levi Strauss & Co. (LS&CO) has appointed New York-based PBS Real Estate
Advisors for its domestic store expansion program. The team will be led by
Laura Pomerantz, an experienced retail advisor and principal of PBS, who
will work with Levi Strauss management in identifying and securing prime
street sites in major U.S. cities, as well as key locations in heavily
trafficked shopping malls, to support Levi’s multi-year retail expansion
plan.

“We are pleased to have Laura and the PBS team on board as we continue
to roll out our domestic footprint. Their expertise and strong network of
relationships will greatly benefit our program,” stated Mark Breitbard,
President, Retail and E-Commerce Levi Strauss & Co.

Levi Strauss began an expansion of its owned and operated stores in the
United States three years ago. Currently, there are 48 owned and operated
stores open in the U.S. that feature the Company’s most innovative product
as well as classic 501 jeans. This week, Levi Strauss opened a 6,500 square
foot store in Times Square, the fourth Manhattan location for the Company.

“We look forward to working with Mark and his talented team in helping
Levi’s achieve their national retail expansion goals and add value to this
iconic brand with its strong American heritage,” commented Laura Pomerantz,
Principal of PBS Real Estate.

About PBS Real Estate

PBS Real Estate is a New York-based commercial real estate firm
specializing in representing high-end office and retail tenants in New York
and throughout the major markets in the United States. Led by founding
principals Laura Pomerantz, John Brod and Morton Schrader, PBS Real Estate
(http://www.pbsrealestate.com) utilizes an extensive network of local and
international industry relationships to provide its clients with customized
market intelligence and senior level expertise and execution. PBS Real
Estate is the exclusive New York City partner of ONCOR
International/Realogy Corporation, which serves over 220 markets worldwide
through its 44 independent commercial real estate partner brokerages.



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• Digital Realty Trust to Present at the 7th Annual JMP Securities Research Conference
• Federal Home Loan Bank of Boston Declares Dividend
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Source: Real Estate Newswire

Popularity: 17% [?]

HOUSTON, May 16 /PRNewswire/ — Whitestone REIT, which owns and manages
37 commercial properties in Texas and Arizona, announced today that the
Board of Trustees has approved a dividend of $0.15 per common share for the
second quarter of 2008.

The dividend is payable in three monthly payments of $.05 per share.
Dividend payments will be made on or about the first day of July, August,
and September.

Chairman and Chief Executive Officer James C. Mastandrea expressed
cautious optimism that Whitestone could continue to pay the dividend at its
current quarterly rate of $0.15 per share and said, “We are working
diligently to repair the deferred maintenance at our properties and
prudently to allocate cash for those needed repairs and for tenant
improvement costs for new leases so that we can continue to grow the
occupancy of our portfolio.” He further stated that he expects the legal
expenses relating to the differences between Whitestone’s shareholders and
Mr. Hartman to significantly decrease after the second quarter and for both
parties to go their separate ways. He concluded, “The resolution of the
lawsuits between our shareholders and Mr. Hartman should result in improved
cash flow by year end.”

Whitestone intends to hold its annual meeting of shareholders on July
29th because a verdict from the court concerning the litigation should be
known before that date, and the proxy statement will be mailed to
shareholders on June 29th.

ABOUT WHITESTONE REIT

Whitestone REIT owns and operates retail, office and office warehouse
properties, 33 of which are in the Houston area, two office buildings in
Dallas, a retail plaza in San Antonio and an office complex in a Carefree,
AZ. For more information go to http://www.whitestonereit.com

Forward-Looking Statement:

This report includes “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934. The information in this news release
includes certain forward-looking statements that are based upon assumptions
that in the future may prove not to have been accurate and are subject to
significant risks and uncertainties, including statements as to the future
performance of the company. Although the company believes that the
expectations reflected in its forward-looking statements are reasonable, it
can give no assurance that such expectations or any of its forward-looking
statements will prove to be correct. Factors that could cause results to
differ include, but are not limited to, successful performance of internal
plans, product development acceptance, and the impact of competitive
services and pricing and general economic risks and uncertainties.



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• The Importance of Maintaining Insurance Coverage
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Source: Real Estate Newswire

Popularity: 18% [?]

NEW YORK, May 16 /PRNewswire-FirstCall/ — iStar Financial Inc. (NYSE:
SFI), a leading publicly traded finance company focused on the commercial
real estate industry, announced today that it has agreed to sell $750
million aggregate principal amount of 8.625% Senior Notes due 2013. The
Notes are senior unsecured debt securities of the Company and will rank
equally with all of the Company’s other senior unsecured debt. Interest is
payable semi-annually on each June 1 and December 1, commencing on December
1, 2008.

The Company has agreed to sell the Notes at 99.495% of their principal
amount for an initial yield of 8.750% per annum.

The offering of the Notes is expected to close on May 21, 2008. iStar
Financial expects to use the proceeds from the sale of the Notes to repay
outstanding U.S. dollar indebtedness under its unsecured revolving credit
facilities.

Banc of America Securities LLC, Citi Markets & Banking and J.P. Morgan
Securities Inc. are acting as joint book-running managers for the offering.

This press release does not constitute an offer to sell or solicitation
of an offer to buy the Notes being sold in this offering. Copies of the
final prospectus and accompanying prospectus supplement relating to the
sale of the Notes will be filed with the Securities and Exchange Commission
and may be obtained by calling Banc of America Securities LLC toll-free at
1-800-294-1322, Citigroup Global Markets Inc. toll free at 1-877-858-5407
or J.P. Morgan Securities Inc. at 1-212-834-4533.

* * *

iStar Financial Inc. is a leading publicly traded finance company
focused on the commercial real estate industry. The Company primarily
provides custom tailored financing to high end private and corporate owners
of real estate, including senior and mezzanine real estate debt, senior and
mezzanine corporate capital, corporate net lease financing and equity. The
Company, which is taxed as a real estate investment trust (”REIT”), seeks
to deliver strong dividends and superior risk-adjusted returns on equity to
shareholders by providing innovative and value added financing solutions to
its customers. Additional information on iStar Financial is available on
the Company’s website at http://www.istarfinancial.com.



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• Levi Strauss & Co. Appoints PBS Real Estate Advisors for U.S. Store Expansion
• Life Insurance - What To Look For
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Source: Real Estate Newswire

Popularity: 20% [?]

SAN FRANCISCO, May 16 /PRNewswire-FirstCall/ — Digital Realty Trust
(NYSE: DLR) announced today that Michael F. Foust, CEO, and A. William
Stein, CFO and Chief Investment Officer, will present at the 7th Annual JMP
Securities Research Conference on Wednesday, May 21, 2008 at 8:30 a.m. PDT.
The conference is being held May 19 - 21, 2008 at the Ritz-Carlton Hotel in
San Francisco, California.

A webcast of the live presentation will be accessible from the investor
relations section of Digital Realty Trust’s website at
http://www.digitalrealtytrust.com. For those who cannot participate in the
live event, an archive of the webcast will also be available after the
presentation for 90 days at http://www.digitalrealtytrust.com.

About Digital Realty Trust, Inc.

Digital Realty Trust, Inc. owns, acquires, redevelops, develops and
manages technology-related real estate. The Company is focused on providing
Turn-Key Datacenter(TM) and Powered Base Building(TM) datacenter solutions
for domestic and international tenants across a variety of industry
verticals ranging from information technology and internet enterprises, to
manufacturing and financial services. Digital Realty Trust’s 71 properties,
excluding one property held as an investment in an unconsolidated joint
venture, contain applications and operations critical to the day-to-day
operations of technology industry tenants and corporate enterprise
datacenter tenants. Comprising approximately 12.7 million rentable square
feet as of May 8, 2008, including 1.9 million square feet of space held for
redevelopment, Digital Realty Trust’s portfolio is located in 26 markets
throughout North America and Europe. For additional information, please
visit Digital Realty Trust’s website at http://www.digitalrealtytrust.com.



For Additional Information:

A. William Stein Pamela A. Matthews
Chief Financial Officer and Investor/Analyst Information
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. +1 (415) 738-6500
+1 (415) 738-6500


See Also

• Levi Strauss & Co. Appoints PBS Real Estate Advisors for U.S. Store Expansion
• ‘Crash For Cash’ Adds 5% To Insurance Premiums
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Source: Real Estate Newswire

Popularity: 23% [?]

NEW YORK, May 16 /PRNewswire-FirstCall/ — DVL, Inc. (OTC Bulletin
Board: DVLN) announced its operating results for the three month period
ended March 31, 2008.

DVL’s income from continuing operations for the quarter ended March 31,
2008 was $1,042,000 ($.02 basic and $.02 diluted per share) as compared to
$759,000 ($.02 basic and $.01 diluted per share) for the quarter ended
March 31, 2007. The primary reasons were increased gains on satisfaction of
mortgage loans and increased residual interest income net of interest
expense, which together contributed $317,000 ($.01 basic and diluted).
After a loss from discontinued operations of $69,000 DVL’s net income was
$973,000 for the quarter ended March 31, 2008.

Shareholder’s equity increased to

2,659,000 as of March 31, 2008 from

1,686,000 as of December 31, 2007.

This press release contains statements which constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Included are statements regarding the intent, belief and/or
current expectations of the Company and its management. The Company’s
stockholders and prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance and
involve risks and uncertainties, and that actual results may differ
materially from those projected in the forward-looking statements. Such
risks and uncertainties include, among other things, general economic
conditions, and the actual performance of the portfolios of periodic
payment receivables and other risks and uncertainties that are discussed
herein and in the Company’s reports filed with the Securities and Exchange
Commission.

DVL, Inc. is a commercial finance and real estate company which owns
and services real estate, commercial mortgages and other diversified
commercial and consumer finance assets.



Statistical table follows:


DVL, INC.

RESULTS OF OPERATIONS

(in thousands except share and per share data)

Three Months Ended
March 31,

2008 2007

Revenues $ 3,194

,896

Income from continuing operations $ 1,042 $ 759

Loss from discontinued operations (69) (130)

Net income $973 $629

Basic earnings per share:

Income from continuing operations $.02 $.02
Loss from discontinued operations .00 .00
Net income $.02 $.02

Diluted earnings per share:

Income from continuing operations $.02 $.01
Loss from discontinued operations .00 .00
Net income $.02 $.01


Weighted average shares
outstanding - basic 45,292,757 37,534,583

Effect of dilutive securities 133,389 20,886,850

Weighted average shares
outstanding - diluted 45,426,146 58,421,433



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Source: Real Estate Newswire

Popularity: 19% [?]

DENVER, May 16 /PRNewswire-FirstCall/ — M.D.C. Holdings, Inc. (NYSE:
MDC) announced today it will broadcast a presentation being made at the
Seventh Annual JMP Securities Research Conference on Monday, May 19th, at
10:30 a.m. PDT. The presentation can be heard live and will be available
for replay by entering the M.D.C. Holdings, Inc. website, mdcholdings.com,
and selecting “Seventh Annual JMP Securities Research Conference.”
Printable slides for the presentation also will be available on the
Company’s website. Participants are encouraged to log in at least five
minutes prior to the start of the presentation for registration.

Since 1972, MDC has built and financed the American dream for more than
150,000 families. As one of the largest homebuilders in the United States,
the Company has homebuilding divisions across the country, including
Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson,
California, Chicago, Northern Virginia, Maryland, Philadelphia/Delaware
Valley and Jacksonville. The Company also provides mortgage financing,
insurance and title services, primarily for MDC homebuyers, through its
wholly owned subsidiaries, HomeAmerican Mortgage Corporation, American Home
Insurance Agency and American Home Title and Escrow, respectively. M.D.C.
Holdings, Inc. is traded on the New York Stock Exchange under the symbol
“MDC.” For more information, visit http://www.mdcholdings.com.



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• Car Insurance - Driving On Holiday
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Source: Real Estate Newswire

Popularity: 41% [?]

SAN FRANCISCO, May 16 /PRNewswire/ — Levi Strauss & Co. (LS&CO) today
announced the exclusive appointment of New York-based PBS Real Estate
Advisors for its domestic store expansion program. The team will be led by
Laura Pomerantz, an experienced retail advisor and principal of PBS, who
will work with Levi Strauss management in identifying and securing prime
street sites in major U.S. cities, as well as key locations in heavily
trafficked shopping malls, to support Levi’s multi-year retail expansion
plan.

“We are pleased to have Laura and the PBS team on board as we continue
to roll out our domestic footprint. Their expertise and strong network of
relationships will greatly benefit our program,” stated Mark Breitbard,
President, Retail and E-Commerce Levi Strauss & Co.

Levi Strauss began an expansion of its owned and operated stores in the
United States three years ago. Currently, there are 48 owned and operated
stores open in the U.S. that feature the Company’s most innovative product
as well as classic 501 jeans. This week, Levi Strauss opened a 6,500 square
foot store in Times Square, the fourth Manhattan location for the Company.

“We look forward to working with Mark and his talented team in helping
Levi’s achieve their national retail expansion goals and add value to this
iconic brand with its strong American heritage,” commented Laura Pomerantz,
Principal of PBS Real Estate.

About PBS Real Estate

PBS Real Estate is a New York-based commercial real estate firm
specializing in representing high-end office and retail tenants in New York
and throughout the major markets in the United States. Led by founding
principals Laura Pomerantz, John Brod and Morton Schrader, PBS Real Estate
(http://www.pbsrealestate.com) utilizes an extensive network of local and
international industry relationships to provide its clients with customized
market intelligence and senior level expertise and execution. PBS Real
Estate is the exclusive New York City partner of ONCOR
International/Realogy Corporation, which serves over 220 markets worldwide
through its 44 independent commercial real estate partner brokerages.

About Levi Strauss & Co.

Invented in 1873 by Levi Strauss, Levi’s(R) Jeans are the original,
authentic jeans. They are the most successful, widely recognized and often
imitated product in the history of apparel. Levi’s(R) Jeans have captured
the attention, imagination and loyalty of generations of diverse
individuals in more than 110 countries around the world and continue to do
so today through jeanswear innovation. Levi Strauss & Co. has been leading
innovation for more than 150 years. For more information about the
Levi’s(R) brand, its products and Levi’s(R) Stores, visit http://www.levi.com.



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Source: Real Estate Newswire

Popularity: 34% [?]

RED BANK, N.J., May 16 /PRNewswire-FirstCall/ — Hovnanian Enterprises,
Inc. (NYSE: HOV) announced today that it priced $600.0 million aggregate
principal amount of 11 1/2% senior secured notes due May 1, 2013 in a
private placement. The Company also entered into an amendment to its
revolving credit agreement, which decreases total commitments thereunder to
$300.0 million, increases the amount of collateral, and substantially
eliminates maintenance covenants. The amendment will become effective upon
the closing of the notes offering, which is expected to occur on May 27,
2008.

The notes will be secured on a second-priority lien basis by
substantially all the assets owned by the Company and guarantors of the
notes to the extent such assets secure obligations under the amended
revolving credit agreement. Such assets may also secure certain other
permitted indebtedness.

The Company intends to use the net proceeds from the offering of the
notes to repay amounts outstanding under its existing revolving credit
agreement and for general corporate purposes.

The notes will be offered within the United States only to “qualified
institutional buyers” pursuant to Rule 144A under the Securities Act of
1933, as amended (the “Securities Act”). The notes will also be offered
outside the United States to non-U.S. investors. The notes will not be
registered under the Securities Act and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements. This announcement does not constitute an offer
to sell or the solicitation of an offer to buy such notes in any
jurisdiction in which such an offer or sale would be unlawful.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian,
Chairman, is headquartered in Red Bank, New Jersey. The Company is one of
the nation’s largest homebuilders with operations in Arizona, California,
Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Michigan,
Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South
Carolina, Texas, Virginia and West Virginia. The Company’s homes are
marketed and sold under the trade names K. Hovnanian Homes, Matzel &
Mumford, Forecast Homes, Parkside Homes, Brighton Homes, Parkwood Builders,
Windward Homes, Cambridge Homes, Town & Country Homes, Oster Homes, First
Home Builders of Florida and CraftBuilt Homes. As the developer of K.
Hovnanian’s Four Seasons communities, the Company is also one of the
nation’s largest builders of active adult homes.

Forward-Looking Statements

All statements in this Press Release that are not historical facts
should be considered as “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements
involve known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such risks,
uncertainties and other factors include, but are not limited to, (1)
changes in general and local economic and industry and business conditions,
(2) adverse weather conditions and natural disasters, (3) changes in market
conditions and seasonality of the Company’s business, (4) changes in home
prices and sales activity in the markets where the Company builds homes,
(5) government regulation, including regulations concerning development of
land, the home building, sales and customer financing processes, and the
environment, (6) fluctuations in interest rates and the availability of
mortgage financing, (7) shortages in, and price fluctuations of, raw
materials and labor, (8) the availability and cost of suitable land and
improved lots, (9) levels of competition, (10) availability of financing to
the Company, (11) utility shortages and outages or rate fluctuations, (12)
levels of indebtedness and restrictions on the Company’s operations and
activities imposed by the agreements governing the Company’s outstanding
indebtedness, (13) operations through joint ventures with third parties,
(14) product liability litigation and warranty claims, (15) successful
identification and integration of acquisitions, (16) significant influence
of the Company’s controlling stockholders, (17) geopolitical risks,
terrorist acts and other acts of war and (18) other factors described in
detail in the Company’s Form 10-K for the year ended October 31, 2007.



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Source: Real Estate Newswire

Popularity: 24% [?]

Freddie Mac, State Figures Support Notion that More Housing Woes May Be on
Horizon for Commonwealth

HARRISBURG, Pa., May 16 /PRNewswire-USNewswire/ — Recent trends in
housing prices in Pennsylvania suggest that larger declines lie ahead,
researchers at the Keystone Research Center in Harrisburg said today. And,
they added, those price declines, coupled with rising unemployment in the
state, raise the risk of additional mortgage delinquencies and home
foreclosures in Pennsylvania.

Responding to a release of national and state-level housing data by
Freddie Mac, Stephen Herzenberg, an economist with the Keystone Research
Center, said the Freddie Mac index for Pennsylvania reveals the first
actual decline in housing prices over a 12-month period since 1995.
Pennsylvania housing prices fell 1.3 percent between the first quarter of
last year and the first quarter of 2008, which is a smaller decline than
experienced in 37 states, including five of Pennsylvania’s nearest
neighbors, Herzenberg noted.

“While housing prices have declined less here than in other states, the
trends we’re seeing over time are following the national trend,” Herzenberg
said. “Based on national projections, this implies that larger price
declines are in Pennsylvania’s future.”

Mark Price, a labor economist with the Keystone Research Center,
pointed to a summary of current housing market research delivered by
Federal Reserve Chair Ben Bernanke earlier this month. “Bernanke argued
that rising unemployment and falling home prices are important factors
influencing the prevalence of mortgage delinquency and foreclosure,” Price
said.

According to the Pennsylvania Department of Labor and Industry,
unemployment in Pennsylvania rose by 47,000 between April of last year and
April of 2008. “So now we have both of those conditions, and thus there is
greater risk today of an increase in mortgage delinquencies and
foreclosures than there was just a few months ago,” Price said.

In January, the Keystone Research Center released the first detailed
analysis of the housing market in the commonwealth. A Building Storm: The
Housing Market and the Pennsylvania Economy cautioned that although the
state fared better than some surrounding states with regard to the collapse
of the housing bubble, there was still cause for concern.

“It seems like that is still the case,” Herzenberg said.

For more information on the Pennsylvania housing market, visit
http://www.keystoneresearch.org/housingmarket/index.html.

The Keystone Research Center is a Harrisburg-based organization and
leading source of independent analysis of Pennsylvania’s economy and public
policy. Much of KRC’s research is available free of charge at
http://www.keystoneresearch.org.



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Source: Real Estate Newswire

Popularity: 21% [?]

HARTFORD, Conn., May 16 /PRNewswire-FirstCall/ — CBRE Realty Finance,
Inc. (NYSE: CBF) today announced that it has filed a primary shelf
registration statement with the Securities and Exchange Commission (the
“SEC”) for the offering and sale from time to time of up to $300 million of
equity securities. The timing of any such offering or sale will be
determined by management based on their evaluation of business and market
conditions, among other factors. The nature and terms of any securities to
be offered and sold under the registration statement will be established at
the time of sale and will be described in related prospectus supplements to
be filed with the SEC from time to time.

Kenneth J. Witkin, president and chief executive officer, commented,
“As we indicated in November 2007, we are moving forward with our shelf
registration. While we have no near term intention to issue the equity off
the shelf, we believe it will provide us with flexibility to access the
public equity capital markets at such times as we deem appropriate.”

The registration statement relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not be
sold nor may offers to buy such securities be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
jurisdiction.

About CBRE Realty Finance, Inc.

CBRE Realty Finance, Inc. is a commercial real estate specialty finance
company primarily focused on originating, acquiring, investing in,
financing and managing a diversified portfolio of commercial real
estate-related loans and securities. CBRE Realty Finance has elected to
qualify to be taxed as a real estate investment trust, or REIT, for federal
income tax purposes. CBRE Realty Finance is externally managed and advised
by CBRE Realty Finance Management, LLC, an indirect subsidiary of CB
Richard Ellis Group, Inc. and a direct subsidiary of CBRE/Melody & Company.
For more information on the Company, please visit the Company’s website at
http://www.cbrerealtyfinance.com.

Forward-Looking Information

This press release contains forward-looking statements based upon the
Company’s beliefs, assumptions and expectations of its future performance,
taking into account all information currently available. These beliefs,
assumptions and expectations can change as a result of many possible events
or factors, not all of which are known to the Company or are within its
control. If a change occurs, the Company’s business, financial condition,
liquidity and results of operations may vary materially from those
expressed in its forward- looking statements. The factors that could cause
actual results to vary from the Company’s forward-looking statements
include the Company’s future operating results, its business operations and
prospects, general volatility of the securities market in which the Company
invests and the market prices of its common stock, the Company’s ability to
begin making investments in the future, availability, terms and development
of short-term and long-term capital, availability of qualified personnel,
changes in the industry, interest rates, the debt securities, credit and
capital markets, the general economy or the commercial finance and real
estate markets specifically, performance and financial condition of
borrowers and corporate customers, increased prepayments of the mortgage
and other loans underlying the Company’s investments, the status of the
class action lawsuit, the potential derivative shareholder claim and any
future litigation that may arise, the ultimate resolution of the Company’s
three non-performing loans totaling $94.8 million and the Company’s three
watch list loans totaling

9.8 million, the monetization of the Company’s
joint venture investments, the outcome of the Company’s exploration of
operational and strategic initiatives, and other factors, which are beyond
the Company’s control. The Company undertakes no obligation to publicly
update or revise any of the forward-looking statements. For further
information, please refer to the Company’s filings with the Securities and
Exchange Commission.



FOR FURTHER INFORMATION
AT CBRE REALTY FINANCE:
Michael Angerthal
Chief Financial Officer
(860) 275-6222
michael.angerthal@cbrerealtyfinance.com


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• Car Insurance - Driving On Holiday
• Ahmedabad: Top Place to be

Source: Real Estate Newswire

Popularity: 25% [?]