Residential Real Estate Newsletter News

Loans for international home buyers in California

by admin on September 7, 2011

Bryan Shaffer of George Smith Partners closes loans for non-owner occupied houses for international buyers. He is with George Smith Partners in Los Angeles. He can provide bridge loans for 1-2 years at 60% of value in California. He can help buyers from other countries, buyers of distressed condo projects or any other hard to finance real estate. Bryan Shaffer of George smith partners can be reached at 310.867. 2906 or emailed at bshaffer@gspartners.com. George Smith Partners are in Century City at 10250 Constellation Blvd., Suite 2700, Los Angeles, California 90067.

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Altisource Announces Acquisition of The Mortgage Partnership of America, L.L.C.

by on February 12, 2010

LUXEMBOURG, Feb. 12, 2010 (GLOBE NEWSWIRE) — Altisource Portfolio Solutions (Nasdaq:ASPS) announced today the acquisition of The Mortgage Partnership of America, L.L.C. (MPA). MPA serves as the manager of the Lenders One Mortgage Cooperative (Lenders One), a national alliance of mortgage bankers established in 2000 that consists of more than 155 members that originated more than $75 billion in mortgage loans during 2009.

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Altisource Announces Acquisition of The Mortgage Partnership of America, L.L.C.

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Barnwell Industries, Inc. Reports Earnings for the First Quarter Ended December 31, 2009

February 11, 2010

HONOLULU, Feb. 11, 2010 (GLOBE NEWSWIRE) — Barnwell Industries, Inc., (NYSE Amex:BRN) today reported net earnings of $1,952,000 ($0.24 per share – diluted) for the three months ended December 31, 2009, as compared to $424,000 ($0.05 per share – diluted) for the three months ended December 31, 2008.

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Piedmont Office Realty Trust, Inc. Prices Offering of Class A Common Stock

February 9, 2010

ATLANTA, Feb. 9, 2010 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. (“Piedmont”) has priced its public offering of 12,000,000 shares of its Class A common stock at $14.50 per share. Piedmont’s Class A common stock is expected to begin trading on February 10, 2010 on the New York Stock Exchange under the ticker symbol “PDM.” The underwriters have a 30-day option to purchase up to an additional 1,800,000 shares from Piedmont.

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Alico Reports First Quarter Earnings

February 9, 2010

LA BELLE, Fla., Feb. 9, 2010 (GLOBE NEWSWIRE) — Alico, Inc. (Nasdaq:ALCO), a land management company, announced a net loss for the three months ended December 31, 2009 of $1.4 million or $0.19 per share compared with a loss of $0.2 million or $0.02 per share, for the three months ended December 31, 2008. Earnings from interest on mortgages, real estate sales and agriculture operations were below prior year results and combined to cause the earnings decline.

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Institutional Investor Magazine Names Toll Brothers to Its 2010 All-America Executive Team

February 9, 2010

HORSHAM, Pa., Feb. 9, 2010 (GLOBE NEWSWIRE) — Toll Brothers, Inc. (NYSE:TOL), (www.tollbrothers.com), the nation’s leading builder of luxury homes, today announced that Institutional Investor has ranked Toll Brothers’ chairman and chief executive officer Robert I. Toll as the top CEO in the Homebuilders & Building Products industry for the third year in a row, chief financial officer Joel H. Rassman as the top CFO within the Homebuilders & Building Products industry for the fifth year in a row, Toll Brothers as the company with the “Best Investor Relations” for the Homebuilders & Building Products industry for the second year in a row and Frederick Cooper, Senior Vice President Finance, International Development and Investor Relations, as the top Investor Relations professional within the Homebuilders & Building Products industry. Institutional Investor went on to name Toll Brothers as the 2010 All-America Executive Team for the Homebuilders & Building Products industry.

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Priority Capital Group Announces Pacific Office Properties Senior Common Stock

February 9, 2010

SAN DIEGO, Feb. 9, 2010 (GLOBE NEWSWIRE) — Priority Capital Group and Pacific Office Properties Trust, Inc. (NYSE Amex:PCE) today announced commencement of the public offering of $400 million of Pacific Office senior common stock. The senior common stock, priced at $10 per share, offers a cumulative dividend of 7.25%, declared daily and paid monthly, plus the potential for dividend increases that are triggered by increases in the Pacific Office listed common stock dividend.

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Liberty Analytics Co. Initiates Independent Research Coverage on Strategic Hotels & Resorts, Inc.

February 9, 2010

CALGARY, Alberta, Feb. 9, 2010 (GLOBE NEWSWIRE) — Liberty Analytics Co., a leading provider of large, small- and micro-cap independent investment research, today initiated coverage on Strategic Hotels & Resorts, Inc. (NYSE:BEE). Liberty Analytics is currently offering a complimentary trial subscription. To view our research go to: www.libertyanalyticsco.com.

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REALTORS Association of New Mexico and zipLogix Extend Partnership

February 8, 2010

FRASER, Mich., Feb. 8, 2010 (GLOBE NEWSWIRE) — zipLogix, creator of zipForm(r) 6, the real estate industry’s leading contract software, announced today that it has extended its zipForm(r) partnership with the REALTORS(r) Association of New Mexico (RANM). This multi-year agreement means that RANM’s more than 6,300 brokers and qualifying brokers will continue to receive convenience and savings on the foremost brand of electronic real estate forms as part of their membership.

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CoStar Group Purchases a 2008 Class A LEED Gold-Certified Office Building

February 5, 2010

BETHESDA, Md., Feb. 5, 2010 (GLOBE NEWSWIRE) — CoStar Group, Inc. (Nasdaq:CSGP) the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced the Company has purchased an office building at 1331 L Street, N.W. in Washington, D.C., through a wholly owned subsidiary, for $41.25 million where it plans to locate its Headquarters.

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Update on Status of Reverse Merger Between Delta Seaboard Well Service, Inc. and Hammonds Industries, Inc.

February 5, 2010

HOUSTON and KEMAH, Texas, Feb. 5, 2010 (GLOBE NEWSWIRE) — Delta Seaboard Well Service, Inc. (Delta), a majority-owned subsidiary of American International Industries, Inc. (Nasdaq:AMIN), announced today that the board of directors of Hammonds Industries, Inc. (Hammonds) (Pink Sheets:HMDI), has ratified and approved the Reverse Merger Agreement dated August 13, 2009, regarding the reverse merger of Delta into Hammonds. Also, Hammonds’ board of directors appointed Daniel Dror, Sherry Couturier, Rob Derrick, Jr., Ron Burleigh, and Steven Plumb to the Hammonds board. The newly appointed board accepted the resignations of Carl Hammonds, John Stump, III, and Richard Richardson as officers and directors of Hammonds.

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Toll Brothers’ Website to Broadcast Its February 24, 2010 "First Quarter 2010 Earnings" Conference Call Live

February 5, 2010

HORSHAM, Pa., Feb. 5, 2010 (GLOBE NEWSWIRE) — Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, will broadcast live on its website, www.tollbrothers.com, a conference call to discuss its FY 2010 first quarter results. The event is scheduled for 2:00 P.M. (EST) on Wednesday, February 24, 2010. It will follow announcement of the Company’s first quarter 2010 results for earnings, revenues, contracts and backlog before the market opens on Wednesday, February 24, 2010. The call will be hosted by Robert I. Toll, Chairman and Chief Executive Officer.

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Altisource Portfolio Solutions Announces Fourth Quarter 2009 Conference Call

February 4, 2010

LUXEMBOURG, Feb. 4, 2010 (GLOBE NEWSWIRE) — Altisource Portfolio Solutions (Nasdaq:ASPS) announced today that the company will release fourth quarter 2009 earnings on the morning of Wednesday, March 10, 2010. A press release and presentation will be available on the company’s website (www.altisource.com) via the Investors Relations section.

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Nestle Products Corporation, a Wholly-Owned Subsidiary of American International Industries, Inc., Signs Contract to Sell 8 Acres of Land in Houston, TX

February 3, 2010

HOUSTON and KEMAH, Texas, Feb. 3, 2010 (GLOBE NEWSWIRE) — Mr. Daniel Dror, Chairman and CEO of American International Industries, Inc. (Nasdaq:AMIN), announced today that an earnest money contract has been entered into between Nestle Products Corporation (“Nestle”), a wholly-owned subsidiary of American International Industries, Inc., and REIT Partners, LP., the Buyer, pursuant to which a 8 acre tract of land on Airport Blvd. in Houston, TX, out of a larger 42 Acre Nestle-owned tract, is being sold to the Buyer for cash consideration of $450,000. The company received a non-refundable cash deposit. The Buyer is purchasing the property in order to develop a multifamily apartment complex.

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Seaway Valley Capital Corporation Updates on Subsidiaries’ Progress in Recent Months

February 3, 2010

SACKETS HARBOR, N.Y., Feb. 3, 2010 (GLOBE NEWSWIRE) — Thomas Scozzafava, President and Chief Executive Officer of Seaway Valley Capital Corporation, (Pink Sheets:SEVA), which is the majority shareholder of Hackett’s Stores, Inc. (Pink Sheets:HCKI), Harbor Brewing Company, Inc. (Pink Sheets:HBWO), Alteri Bakery, Inc., and Seaway Realty Holdings, LLC issued the following update to its shareholders today:

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Retail Opportunity Investment Corp. Acquires Three Grocery Anchored Shopping Centers

February 3, 2010

PURCHASE, N.Y., Feb. 3, 2010 (GLOBE NEWSWIRE) — Retail Opportunity Investments Corp. (Nasdaq::ROIC), a fully integrated owner and operator of shopping centers, announced today that it has closed on the purchase of three grocery and drug anchored centers with an aggregate purchase price of $31.54 million in cash.

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CoStar Group to Report Fourth Quarter and Full-Year 2009 Financial Results on February 24, 2010

February 1, 2010

BETHESDA, Md., Feb. 1, 2010 (GLOBE NEWSWIRE) — CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information, marketing and analytic services to the commercial real estate industry, will announce financial results for the fourth quarter and full year of 2009 following the market close on Wednesday, February 24, 2010. Management will conduct a conference call to discuss the fourth quarter results and the company’s outlook for 2010 at 11:00 AM EST on Thursday, February 25, 2010.

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Investors Real Estate Trust Announces New Lease Transactions and Tenant Renewal

February 1, 2010

MINOT, N.D., Feb. 1, 2010 (GLOBE NEWSWIRE) — Investors Real Estate Trust (“IRET”) (Nasdaq:IRET) (Nasdaq:IRETP) announced today that its operating partnership, IRET Properties, has signed leases totaling 102,548 square feet at three of its commercial properties. IRET’s President and Chief Executive Officer, Timothy Mihalick, commented, “We are happy to announce the signing of these three commercial leases. IRET is committed to working with both existing tenants to meet their space needs and securing new tenants in currently unoccupied space.”

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Reis, Inc. Expands Custom Research & Advisory Services

February 1, 2010

LAS VEGAS, Feb. 1, 2010 (GLOBE NEWSWIRE) — Reis, Inc. (Nasdaq:REIS) (“Reis” or the “Company”), a leading provider of commercial real estate market information and analytical tools, today announced a major expansion of the Company’s Custom Research & Advisory Services, which provide clients access to the firm’s research capabilities and thought leadership with regard to key investment issues.

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OptimumBank Holdings Announces Fourth Quarter and Year End Loss

February 1, 2010

FORT LAUDERDALE, Fla., Feb. 1, 2010 (GLOBE NEWSWIRE) — OptimumBank Holdings, Inc. (Nasdaq:OPHC), holding company for OptimumBank, reported a net loss for the fourth quarter ended December 31, 2009 of $6,053,615 or $(1.85) per basic share compared to a net loss of $499,629 or $(.16) per basic share for the prior year quarter ended December 31, 2008. The Company reported a net loss of $8,478,795 or $(2.59) per basic share for the year ended December 31, 2009 compared to net income of $519,645 or $.17 per basic share for the same period last year.

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Education Realty Trust to Host Fourth Quarter 2009 Earnings Conference Call

January 27, 2010

MEMPHIS, Tenn., Jan. 27, 2010 (GLOBE NEWSWIRE) — Education Realty Trust, Inc. (NYSE:EDR), a leader in the ownership, management and development of student housing, today announced that the Company will release financial results for the fourth quarter of 2009 after the market closes on Tuesday, February 23, 2010.

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Asia Properties Completes SEC Filings to Become Current

January 27, 2010

HONG KONG and BELLINGHAM, Wash., Jan. 27, 2010 (GLOBE NEWSWIRE) — Asia Properties, Inc. (API) (Pink Sheets:ASPZ) confirmed today that it has completed its SEC filings and is now up-to-date and current with its required information.

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Meritage Homes Reports Fourth Quarter and Full Year 2009 Results

January 26, 2010

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Liberty Analytics Co. Initiates Independent Research Coverage on Fannie Mae

January 26, 2010

CALGARY, Alberta, Jan. 26, 2010 (GLOBE NEWSWIRE) — Liberty Analytics Co., a leading provider of large, small – and micro-cap independent investment research, today initiated coverage on Fannie Mae (NYSE:FNM). Liberty Analytics is currently offering a complimentary trial subscription. To view our research go to:

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Meritage Homes Announces "Your Home. Your Way. 99 Days Guaranteed"

January 25, 2010

SCOTTSDALE, Ariz., Jan. 25, 2010 (GLOBE NEWSWIRE) — Meritage Homes Corporation (NYSE:MTH), one of America’s top 10 homebuilders, today announced that it will offer a 99-day completion guarantee for customers who buy a Meritage home in one of its selected communities across the southern and western United States. The guarantee allows buyers to contract for their home and personalize it their way, confident that it will be completed and ready to move into within 99 days from the date of sale.

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The Garibaldi Group Celebrates Its 90 Year Anniversary by Giving Back

January 25, 2010

CHATHAM, N.J., Jan. 25, 2010 (GLOBE NEWSWIRE) — The Garibaldi Group just celebrated its 90

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Associated Estates Announces 2009 Allocations of Common and Preferred Share Dividends

January 25, 2010

CLEVELAND, Jan. 25, 2010 (GLOBE NEWSWIRE) — Associated Estates Realty Corporation (NYSE:AEC) (Nasdaq:AEC) announced today the 2009 tax allocations of the dividends paid by Associated Estates on the Company’s common and preferred shares.

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OTC Stock Review Issues Report on BrandPartners Group, Inc.

January 21, 2010

ATLANTA, Jan. 21, 2010 (GLOBE NEWSWIRE) — OTC Stock Review announces that it has initiated coverage of BrandPartners Group, Inc. (OTCBB:BPTR), a provider of next generation retail environments through existing branch roll-out solutions and turnkey real estate services. These services include site selection, strategic market intelligence, brokerage services, full-service design and build, green audits and implementation, space planning, and contract furniture solutions.

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Education Realty Trust Announces 2009 Dividend Tax Characterization

January 20, 2010

MEMPHIS, Tenn., Jan. 20, 2010 (GLOBE NEWSWIRE) — Education Realty Trust, Inc. (NYSE:EDR), a leader in the ownership, management and development of student housing, today announced the final tax characterization for the Company’s total dividend of $0.3575 per common share (CUSIP: 28140H104) paid during the calendar year ending December 31, 2009.

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Emerging Stock Report Initiates Independent Research Coverage on China Housing & Land Development

January 19, 2010

CALGARY, Alberta, Jan. 19, 2010 (GLOBE NEWSWIRE) — Emerging Stock Report, a leading provider of sector specific independent investment research, today initiated coverage on China Housing & Land Development (Nasdaq:CHLN). Emerging Stock Report is currently offering a complimentary trial subscription to the investment community.

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Associated Estates Announces Closing of Common Share Offering

January 15, 2010

CLEVELAND, Jan. 15, 2010 (GLOBE NEWSWIRE) — Associated Estates Realty Corporation (NYSE:AEC) (Nasdaq: AEC) today announced that it completed the sale of 5,175,000 common shares at a price of $11.10 per share, representing 4,500,000 of its common shares sold pursuant to its previously announced public offering and an additional 675,000 common shares that the underwriters elected to purchase pursuant to their over-allotment option in connection with the public offering. The net proceeds of the sale were approximately $54.7 million after deducting underwriting discounts, commissions and offering expenses. All of the shares were offered by Associated Estates and were issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission.

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Oklahoma Association of REALTORS Renews Partnership With zipLogix

January 15, 2010

FRASER, Mich., Jan. 15, 2010 (GLOBE NEWSWIRE) — zipLogix, creator of zipForm(R), the real estate industry’s leading contract software, today announced that it is renewing its zipForm(R) partnership with the Oklahoma Association of REALTORS(R) (OAR). This licensing agreement will enable OAR to continue providing its more than 9,100 members with access to the newly enhanced

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Photo Release — Total Subscribers to CoStar Group’s SHOWCASE.com More Than Doubles in 2009; New Product Exceeds $5 Million in Annualized Revenue 19 Months After Launch

January 14, 2010

BETHESDA, Md., Jan. 14, 2010 (GLOBE NEWSWIRE) — CoStar Group, Inc. (Nasdaq:CSGP) today announced that SHOWCASE.com(R) (http://www.showcase.com) continues to attract large numbers of subscribers and generate impressive revenue growth since launching only 19 months ago. More than 8,800 brokers are marketing their listings through SHOWCASE.com, an online marketing service for commercial real estate brokers to advertise their available property directly to tenants and buyers. For CoStar Group, the new product is currently generating more than $5 million in annualized revenue.

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zipLogix Launches zipOfficePro, a Real Estate Broker-Designed IDX Intranet Solution

January 14, 2010

FRASER, Mich., Jan. 14, 2010 (GLOBE NEWSWIRE) — zipLogix, creator of zipForm(R), the real estate industry’s leading electronic forms software and relay(R) transaction management, announce the release of zipOfficePro(TM). This product represents the latest complement to its suite of REALTOR(R)-centric tools for the industry and was developed by brokers for brokers as an Internet Data Exchange (IDX) / Multiple Listing Service (MLS) intranet solution to increase agent productivity.

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Education Realty Trust to Develop and Manage New High Rise Apartment Community for Graduate Students at the Science & Technology Park at Johns Hopkins

January 13, 2010

MEMPHIS, Tenn., Jan. 13, 2010 (GLOBE NEWSWIRE) — Education Realty Trust Inc. (NYSE:EDR), one of the nation’s largest developers, owners and managers of quality university housing properties, today announced that East Baltimore Development Inc. (“EBDI”) has engaged Allen & O’Hara Development Co., LLC (“Allen & O’Hara”), a wholly owned subsidiary of EDR to design, develop and manage graduate student housing for nursing students, medical students and fellows from the adjacent Johns Hopkins Medical Institute (JHMI) and other students from Universities in close proximity to the new housing.

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zipLogix Releases Next Generation zipForm 6 Real Estate Forms Software

January 13, 2010

FRASER, Mich., Jan. 13, 2010 (GLOBE NEWSWIRE) — zipLogix, creator of zipForm(R), the real estate industry’s leading contract software, today announced that it has rolled out its zipForm(R) 6 Professional (online version) and zipForm(R) 6 Standard (desktop version) to its large, well-established user base. By using this enhanced electronic forms solution, brokers and agents are discovering improved efficiencies, risk reduction and significant time and cost savings from a streamlined workflow.

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Grand Canyon Education Signs Lease at Desert Canyon 300 in Phoenix, AZ

January 12, 2010

ATLANTA and PHOENIX, Jan. 12, 2010 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. announced today that it has completed a a 103,671 square-foot lease agreement with Grand Canyon Education, Inc. at its Desert Canyon 300 property, located at 2411 West Peoria Avenue in Phoenix. The tenant currently occupies one floor of the building on a sublease basis and plans to continue its tenancy on a direct basis through 2021.

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Randall L. Churchey Elected to Education Realty Trust’s Board of Directors

January 12, 2010

MEMPHIS, Tenn., Jan. 12, 2010 (GLOBE NEWSWIRE) — Education Realty Trust, Inc. (NYSE:EDR) today announced that the Company’s Board of Directors elected Randall L. (Randy) Churchey to serve as a director, effective immediately, until the Company’s 2010 Annual Meeting of Stockholders and until his successor is duly qualified and elected. With the election of Mr. Churchey, the Company’s Board membership is increased from five to six members.

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Gladstone Commercial Corporation Announces Common and Preferred Stock Cash Distributions for January, February and March

January 12, 2010

MCLEAN, Va., Jan. 12, 2010 (GLOBE NEWSWIRE) — Gladstone Commercial Corporation (Nasdaq:GOOD) (the “Company”) announced today that its board of directors declared monthly cash distributions of $0.125 per common share for each of the months of January, February and March of 2010. Monthly distributions will be payable per Table 1 below.

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Associated Estates Announces Pricing of Common Share Offering

January 12, 2010

CLEVELAND, Jan. 12, 2010 (GLOBE NEWSWIRE) — Associated Estates Realty Corporation (NYSE:AEC) (Nasdaq:AEC) today announced the pricing of a public offering of 4,500,000 of its common shares at a price of $11.10 per share, for net proceeds of approximately $47.5 million after the underwriting discount and estimated offering expenses (or approximately $54.7 million if the underwriters’ over-allotment option is exercised in full). Associated Estates has granted the underwriters a 30-day option to purchase up to an additional 675,000 of its common shares to cover over-allotments, if any. The offering is expected to close on January 15, 2010. All of the shares were offered by Associated Estates and will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission.

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Meritage Homes Becomes the Only Large National Builder to be Energy Star Qualified in Every Home, Setting the Standard for Green Homebuilders

January 12, 2010

SCOTTSDALE, Ariz., Jan. 12, 2010 (GLOBE NEWSWIRE) — Meritage Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, announced today that it enters its 25th Anniversary year in 2010 as the only large public builder to meet Energy Star standards in every home it builds. A green builder for many years, the company has strategically moved to incorporate more energy-efficient and environmentally-friendly features as standard features in its homes.

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Program 3648 Representative Mark Tyree Providing Big Help to Homeowners in Small Towns

January 11, 2010

BOWLING GREEN, K.Y., Jan. 11, 2010 (GLOBE NEWSWIRE) — Mark Tyree of Coldwell Banker Legacy Group partnered with Program 3648, a privately-sponsored, nationwide initiative to help homeowners avoid foreclosure, in November of 2008. Mark’s efforts under the initiative have positively impacted the lives of many residents in small cities surrounding Bowling Green, Kentucky. In total, Mark Tyree has successfully assisted 20 families with short sale work-out solutions that prevented the families from going through the painful foreclosure process. Tyree is presently helping 26 additional families with many more on the horizon.

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Associated Estates Announces Proposed Offering of Common Shares

January 11, 2010

CLEVELAND, Jan. 11, 2010 (GLOBE NEWSWIRE) — Associated Estates Realty Corporation (NYSE:AEC) (Nasdaq:AEC) today announced that it plans to sell 4,500,000 of its common shares in an underwritten public offering. Associated Estates also plans to grant the underwriters a 30-day option to purchase up to an additional 675,000 of its common shares to cover over-allotments, if any. All of the common shares will be offered by Associated Estates and will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission.

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City of New York Extends Occupancy at 60 Broad Street

January 8, 2010

ATLANTA and NEW YORK, Jan. 8, 2010 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. announced today that the City of New York has extended its 313,022 square-foot occupancy at 60 Broad Street in New York, NY. The tenant has occupied twelve floors in the building since 2000 and will continue its tenancy through April, 2020. The City of New York lease is comprised of two separate agencies, and represents the second largest tenant in the 1,027,000 square foot property.

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Correction — Tanger Declares Dividend

January 8, 2010

GREENSBORO, N.C., Jan. 8, 2010 (GLOBE NEWSWIRE) — This release corrects the dividend dates on the release issued on January 7, 2010.

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Education Realty Trust Declares Fourth Quarter Dividend

January 8, 2010

MEMPHIS, Tenn., Jan. 8, 2010 (GLOBE NEWSWIRE) — Education Realty Trust, Inc. (NYSE:EDR), a leader in the ownership, management and development of student housing, today announced that its board of directors has approved a quarterly cash dividend of $0.05 per share of common stock for the quarter ended December 31, 2009. The dividend will be payable February 15, 2010 to shareholders of record as of January 29, 2010.

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District of Columbia Offers $6.1 Million Tax Abatement for CoStar Group to Relocate Headquarters

January 7, 2010

BETHESDA, Md., Jan. 7, 2010 (GLOBE NEWSWIRE) — CoStar Group, Inc. (Nasdaq:CSGP) the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced the Council of the District of Columbia approved the offering of approximately $6.1 million in real estate property tax abatements over a 10-year period, if CoStar Group relocates and hires 100 District residents. In addition, CoStar Group may be eligible for additional incentives such as a five year elimination of District corporate income tax and certain sale and use tax exemptions.

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Meritage Homes Schedules Fourth Quarter 2009 Earnings Webcast

January 7, 2010

SCOTTSDALE, Ariz., Jan. 7, 2010 (GLOBE NEWSWIRE) — Meritage Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, plans to release the Company’s fourth quarter 2009 results on Tuesday, January 26, 2010 after market close. Management will host a conference call to discuss these results on Wednesday, January 27, 2010 at 9:00 a.m. Eastern Time (6:00 a.m. Pacific Time.) The call will be webcast by Business-to-Investor, Inc. (B2i), with an accompanying slideshow on the “Investor Relations” page of the Company’s web site at http://investors.meritagehomes.com. For telephone participants, the dial-in number is 877-485-3104 with a passcode of “Meritage”. Participants are encouraged to dial in five minutes before the call begins. A replay of the call will be available after 10:30 p.m. ET, January 28, 2010 on the website noted above, or by dialing 877-660-6853, and referencing passcode 341594.

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Investors Real Estate Trust Announces 2009 Distribution Allocation

January 5, 2010

MINOT, N.D., Jan. 5, 2010 (GLOBE NEWSWIRE) — Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP) today announced the final tax treatment (Form 1099) for calendar year 2009 distributions on its common and preferred shares of beneficial interest. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of their Investors Real Estate Trust distributions. None of the following 2009 calendar year distributions is eligible for treatment as “qualified dividend income.”

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State of New York Restructures Lease and Extends Occupancy at 60 Broad Street

January 5, 2010

ATLANTA and NEW YORK, Jan. 5, 2010 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. announced today that the State of New York has restructured its 480,708 square-foot lease at the building known as 60 Broad Street in New York, NY. The tenant has occupied space in the building since 1997 and will continue its tenancy through April, 2019. The State of New York lease is comprised of five separate state agencies, and represents the largest tenant in the 984,000 square foot property.

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