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Press Releases: PR Newswire: Real estate

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Goody's Family Clothing, Inc. Appoints DJM Realty to Dispose of 69 Retail Store Leases

Goody's Family Clothing, Inc. (Goody's), which recently filed for Chapter 11 to restructure its operations, has selected DJM Realty, the leading national retail real estate disposition and restructuring firm, to exclusively manage the disposition project of 69 retail store leases located primarily throughout the Southeast. During this process, Goody's, a retailer of moderately priced family apparel, will continue to remain fully operational and open for business as usual.

Realty Executives Southern Arizona, Wells Fargo Home Mortgage Announce New Redington Home Loans

Realty Executives Southern Arizona, the top locally-owned real estate brokerage in Southern Arizona announced today that it has entered into a relationship with Redington Home Loans, a region-wide mortgage lender and an affiliate of Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A., the nation's No. 1 retail mortgage lender and No. 1 strategic alliance lender. Redington Home Loans, LLC, will provide origination and funding of mortgage loans for clients of Realty Executives Southern Arizona.

William Lyon Homes Announces Promotion of Tom Mitchell to Executive Vice President, Business Development and Operations

William Lyon, Chairman & CEO and Douglas F. Bauer, President and Chief Operating Officer of William Lyon Homes, have announced the promotion of Thomas J. Mitchell to the position of Executive Vice President, Business Development and Operations.

/C O R R E C T I O N -- PMI Mortgage Insurance Co./

PMI Mortgage Insurance Co., the primary U.S. subsidiary of The PMI Group, Inc. (NYSE: PMI), today released its Summer 2008 U.S. Market Risk Index(SM), which ranks the nation's 50 largest metropolitan statistical areas (MSAs) according to the likelihood that home prices will be lower in two years. The U.S. Market Risk Index shows risk further diverged along two distinctly different paths during the first quarter of 2008, continuing a trend that began in the fourth quarter of 2007. In general, risk continued to intensify in many of the MSAs where home price growth had significantly exceeded historical norms during the housing boom, but continued to decline in many other areas across the country.

Grubb & Ellis Healthcare REIT Acquires Senior Care Portfolio 1 in Calif.

Grubb & Ellis Healthcare REIT, Inc. today announced it has completed its acquisition of Senior Care Portfolio 1 with the addition of two skilled nursing facilities in California. The portfolio is comprised of an aggregate of six properties, including four in Texas, the acquisition of which closed in March 2008.

Grubb & Ellis Healthcare REIT Acquires Medical Portfolio 2

Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Medical Portfolio 2. The portfolio consists of three medical buildings in Missouri: 5551 Winghaven, 969 North Mason St. and 909 North 14th St., as well as two in Texas: 180 Bear Creek Parkway and 1722 9th Street.

Plymouth Rock Studios Chooses Waverly Oaks Golf Club

Plymouth Rock Studios announced today that Waverly Oaks Golf Club in Plymouth will be the location of the world's first earth-friendly, state-of-the-art, multi-faceted film and TV production studio, featuring 14 sound stages, back lots, a multi-purpose theatre, hotel, office buildings and an educational component.

Grubb & Ellis Healthcare REIT Acquires Renaissance Medical Centre in Bountiful, Utah

Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Renaissance Medical Centre, a five- story, Class A medical office building located in the Salt Lake City suburb of Bountiful, Utah.

Impac Mortgage Holdings, Inc. Announces Execution of Letter of Intent for a Committed Term Financing Facility

Impac Mortgage Holdings, Inc. (NYSE: IMH), or the "Company" a Maryland corporation, being taxed as a real estate investment trust ("REIT"), is pleased to announce the restructuring of its existing repurchase agreement financing facility with UBS Real Estate Securities, Inc. The Company has executed a detailed letter of intent with UBS Real Estate Securities, Inc. to convert its sole remaining repurchase warehouse line with a current approximate balance of $200 million to a term facility of 12 months with extensions for up to an additional 18 months if certain targets are met. The finalization of this new facility will remove any and all technical defaults for the Company that exist today and it will allow the Company to manage these loans for eventual refinance, sale or securitization through the normal course of its business operations without the risk of any margin calls.

24 Capital Closes on Record $27.5 Million Loan to Aurora Development

When the original investment group recalled its loan a half year ahead of schedule because of internal policy changes, Aurora Development Partners, LLC's Joint Venture Partners; Brian M. Stolar of The Pinnacle Companies and Alan Litt of Kohl Partners needed a bridge loan to continue marketing and sales and to complete site work for Aurora Over the Hudson in Cliffside Park, NJ. In just a short period, the developers already had presold 22 units in twin residential condominium towers that will boast spectacular views of the New York skyline. Without immediate financing, they would need to inform buyers -- perhaps losing them -- and halt additional sales commitments.

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Monarch Financial Completes Private Offering and Raises $7.2 Million in Common Stock

Monarch Financial Holdings, Inc. (Nasdaq: MNRK), parent of Monarch Bank, announced that effective on June 30, 2008, it had sold $2.1 million of common stock in the second closing of a private placement in which it sold a total of 774,110 shares of common stock with gross proceeds of $7.2 million in additional equity capital. The first closing of the private placement was announced on June 10, 2008. In this placement, accredited investors purchased 704,309 shares at $9.25 per share, a discount to current market price to reflect the restrictions placed on the newly issued shares, and members of the corporate board of directors and senior management purchased 69,801 shares at $9.90 per share, the closing price of the Company's common stock on June 6, 2008, which, in accordance with NASDAQ guidelines on purchases by company insiders, is considered to be the market value of purchased shares. Monarch sold the private placement to local investors, institutional investors, board members, and members of management.
Hanover Capital Mortgage Holdings Announces Notification by the American Stock Exchange of De-Listing

Hanover Capital Mortgage Holdings, Inc. (Amex: HCM) (the "Company" or "HCM") announced today that on July 2, 2008 the Company received notice from the American Stock Exchange ("Amex") or ("Exchange") Staff indicating that, after reviewing the Company's Plan previously submitted to the Exchange on May 8, 2008, the Staff has determined that the Plan does not make a reasonable demonstration of the Company's ability to comply with the Exchange's continued listing standards set forth in Sections 1003(a)(i) and (iv) of the Amex Company Guide due to (i) stockholder's equity of less than $2,000,000 and losses from continuing operations and net losses in two out of its three most recent fiscal years and (ii) the Company had sustained losses which are so substantial in relation to its overall operations or its financial condition had become so impaired that it appeared questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and /or meet obligations as they mature. The notice from the Exchange further provided that the Exchange intends to strike the common stock of Hanover from the Exchange.
/C O R R E C T I O N -- Commonwealth of Kentucky/

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Radian Comments on Fundamental Strength of Business

Radian Group Inc. (NYSE: RDN) commented today on the recent decline in its stock price and noted several indications of the fundamental strength of its business and improvement in key performance indicators. The Company today issued the following statement:
25-Yr. Mortgage Expert Invents Innovative New Solution That Assists Homeowners in Funding Their Monthly Mortgage Payments

Life's Elite, LLC (http://www.lifeselite.com), a network-marketing company specializing in prosperous living, longevity and personal development, announces the launch of the consumer-direct mortgage revolution. The consumer-direct mortgage revolution is a groundbreaking program that helps homeowners fund their existing monthly mortgage obligations through an incredible new opportunity.
PNC Declares Dividend of 66 Cents on Common Stock

The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that the board of directors declared a quarterly cash dividend of 66 cents per share on the common stock. The dividend is payable July 24, 2008 to shareholders of record at the close of business July 11, 2008.
Fannie Mae Redemption

Fannie Mae (NYSE: FNM) will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption:
Governor Beshear Announces Rancho Poultry to Locate Food Processing Facility in Lebanon

Governor Steve Beshear and Economic Development Cabinet Secretary John Hindman today announced the location of Rancho Poultry LLC to Marion County. The food processor will create approximately 250 new employment opportunities as a result of the project, investing over $43 million in the commonwealth.
American Capital Agency Declares $0.31 Dividend

American Capital Agency Corp. ("American Capital Agency" or the "Company") (Nasdaq: AGNC) announced today that its Board of Directors has declared a cash dividend of $0.31 per share for the shortened "stub" period from the closing of the Company's initial public offering ("IPO") and concurrent private placement on May 20, 2008 through June 30, 2008. The second quarter 2008 dividend is payable on July 29, 2008 to common shareholders of record as of July 2, 2008, with an ex-dividend date of June 30, 2008.
Miles Stanislaw Announces Court Ruling Against Tom Hanks and Rita Wilson

An Idaho judge put an abrupt end to a $2.5 million arbitration demand filed by actor Tom Hanks and his wife Rita Wilson against a contractor who allegedly did a poor job in building Hanks' $10 million dollar Sun Valley home.

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