Real Estate

Steiner Doors See Strong Custom Door Sales Despite Economic Downturn

admin — Sat, 07 Jun 2008 12:46:24 +0000

Durability, quality cited as common factors for continued interest in custom doors.

Brooklyn, NY (PRWEB) June 7, 2008 — A leading national manufacturing and design firm for architectural and custom doors says that sales and inquiries remain strong despite the recent economic downturn.

Steiner Doors, a Brooklyn, New York-based firm, reports a consistent level of interest and sales for its architectural and custom doors and windows across almost all product lines. From basic full-glass styles to recent trends such as the Villence and the Maestro to general design inquiries, Steiner Doors sees evidence that not all sectors are hurt by the recent state of the economy.

"With things like foreclosures and rising gas prices, many Americans are feeling worried about where their dollar is going," says Miriam Gluck, Financial Supervisor of Steiner Doors. "Money has to go into long-term propositions right now, whether they be a home, business, or an investment portfolio. We believe that is why Steiner Doors continues to see strong business–custom doors are an investment in their home or business."

Steiner Doors continues to see strong interest in the door and window industry and has hired additional staff to keep pace with the volume of custom door interest. Overall, customer demand appears to stem from a desire to have a high-quality product that will last for many years and a pleasing design that will not appear dated as trends change with clients ranging from homeowners wanting to remodel to large corporations looking to revamp with architectural doors.

"While people are scaling back on other expenses, such as electronics and travel, a custom door remodel adds value and aesthetic appeal," says Miriam. "Steiner Doors is often noted for its quality and attention to detail. We also use the best materials and have a team of experienced, dedicated designers. Because of this, our custom doors are often a long-term investment for a tangible enhancement of a building and property value."

Based on sales and inquiry volume, Steiner Doors sees the strongest custom door interest in classic designs that have aesthetic longevity, though the company continues to field inquiries across all types. Traditional looks, such as basic full-glass styles and Art Deco, have received the most attention. As these styles of custom doors have stood up over time and across trends, their overall longevity appears to provide the stability that pleases people currently looking to invest in their home.

"We're noticing extra attention to what we'd consider the industry's standards. This seems to fall in line with the mindset of the current economy," says Sara Berkowits, Estimating Manager of Steiner Doors. "Our inquiries and sales are generated from people looking for something that is as durable aesthetically as it is functionally."

Steiner Doors offers a wide range of custom doors, including aluminum doors, all-glass doors, automatic doors, exterior French doors, and architectural doors. In addition, Steiner Doors offers windows and skylights.

About Steiner Doors
For more than 25 years, Steiner Doors has designed and manufactured custom doors and windows for homes and businesses across the United States. Based out of Brooklyn, New York, Steiner Doors offers local installation and nationwide consultation, custom design, manufacturing, and delivery.

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[Via PRWeb: Business Real Estate]

Los Angeles Firm, International Acquisitions, Inc., Opens a $30 Million Dollar Real Estate Investment Fund

admin — Sat, 07 Jun 2008 03:30:00 +0000

LOS ANGELES, June 6 /PRNewswire/ — International Acquisitions, Inc.
(IA) looks to maximize advantages in an ever increasing foreclosure market
with a $30 million dollar Real Estate Investment Fund.

The media is filled with frantic reports of the foreclosure crisis.
Foreclosure rates have increased by 12% over the last year. The real estate
options in the foreclosure market are broad — not only in value — but
also in locations, as seen by the number of major cities with high
foreclosure rates. Real estate investors don’t have to wait for the
foreclosure to occur to approach homeowners in financial straits with the
possibility of a buy out.

IA’s management team and advisors will be focusing their full time,
energies and expertise to identify and invest in the best available real
estate properties available. They will carefully evaluate the marketplace
and direct its focus to six major real estate investment areas. Those areas
include properties in danger of foreclosure and repossession, assisted
living facilities, hotels and motels, self-storage facilities, government
seizures, and financial institutions. IA plans to offer the opportunity for
each financial partner to acquire long-term financial security.

International Acquisitions, Inc. Director, Scott Terrell says, “We are
excited about the prospects of capitalizing on an otherwise volatile
market. We have a dedicated team of specialists in the field of real estate
investing and finance and are ready to hit the ground running.”

For additional information on the news that is the subject of this
release visit http://intacquisition.com/.

About International Acquisitions, Inc.:

The goal of the company is to offer unique opportunities for the
prudent investor. After the first year of operation, the company plans to
seek registration to begin trading on a public exchange. The fund will be
used for the acquisition of foreclosed and repossessed properties. These
assets represent a combination of low acquisition cost for high value
properties, maximizing the potential for a considerably higher revenue
return on the initial investment.

Safe Harbor Statement:

This release includes forward-looking statements intended to qualify
for the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements generally
can be identified by phrases such as IA or its management “believes,”
“expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other
words or phrases of similar import. Similarly, statements herein that
describe IA’s business strategy, outlook, objectives, plans, intentions or
goals also are forward- looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from those in forward-looking
statements.

See Also:

[Via Real Estate Newswire]

Orleans Homebuilders, Inc. Declares Cash Dividend

admin — Sat, 07 Jun 2008 01:00:00 +0000

BENSALEM, Pa., June 6 /PRNewswire-FirstCall/ — Orleans Homebuilders,
Inc. (Amex: OHB) announced that it has declared a quarterly cash dividend
of $0.02 per share on the Company’s outstanding common stock. The cash
dividend will be payable June 30, 2008 to shareholders of record at the
close of business on June 16, 2008.

About Orleans Homebuilders, Inc.

Orleans Homebuilders, Inc. develops, builds and markets high-quality
single-family homes, townhouses and condominiums. The Company serves a
broad customer base including luxury, move-up, empty nester, active adult
and first-time homebuyers. The Company currently operates in the following
eleven distinct markets: Southeastern Pennsylvania; Central and Southern
New Jersey; Orange County, New York; Charlotte, Raleigh and Greensboro,
North Carolina; Richmond and Tidewater, Virginia; Chicago, Illinois; and
Orlando, Florida. The Company’s Charlotte, North Carolina operations also
include adjacent counties in South Carolina. To learn more about Orleans
Homebuilders, please visit http://www.orleanshomes.com.

See Also:

[Via Real Estate Newswire]

BancorpSouth Expands in Louisiana

admin — Sat, 07 Jun 2008 00:47:00 +0000

Opens Loan Production Office in Alexandria

TUPELO, Miss., June 6 /PRNewswire-FirstCall/ — BancorpSouth, Inc.
(NYSE: BXS) today announced its expansion in the attractive growth market
of Alexandria, Louisiana through the opening of a loan production office.
The office, which will be located at 3504 Parliament Drive, will focus on
commercial lending, real estate construction and residential mortgage
lending. Consistent with BancorpSouth’s expansion strategy, the Company
expects to seek regulatory approval to provide full-service banking
operations at the appropriate time, including a comprehensive array of
integrated retail and commercial financial products and services.

Aubrey B. Patterson, BancorpSouth Chairman and Chief Executive Officer,
remarked, “Today’s announcement reflects a continuation of one of
BancorpSouth’s central long-term growth strategies, that of expanding our
market share within our eight-state mid-south franchise by entering new
markets with attractive growth dynamics. A key aspect of this strategy is
to enter the Alexandria market with experienced management who understand
and embrace our style of community bank customer service, backed by
sophisticated financial product and service capabilities. We are confident
we are so positioned in Alexandria, and we will continue to evaluate
additional plans for future expansion in attractive markets within or
contiguous to our current eight-state footprint.”

Lester Lucy, President of BancorpSouth’s Texas-Louisiana Region, added,
“Alexandria is one of the most appealing markets in our area, with a highly
educated workforce and outstanding job growth in the private sector. We’re
proud of our involvement in this vibrant market. Eugene Scriber, our
president in Alexandria, has a strong financial background in this
community. We are fortunate to have him leading our Alexandria team, which
includes Tracy Alletag, senior vice president, and Corey Lair, vice
president, both with tenure in the Alexandria market.”

BancorpSouth, Inc. is a financial holding company headquartered in
Tupelo, Mississippi with approximately $13.2 billion in assets.
BancorpSouth Bank, a wholly-owned subsidiary of BancorpSouth, Inc.,
operates approximately 300 commercial banking, insurance, trust and
broker/dealer locations in Alabama, Arkansas, Florida, Louisiana,
Mississippi, Missouri, Tennessee and Texas.

See Also:

[Via Real Estate Newswire]

Freddie Mac Holds Annual Stockholders’ Meeting

admin — Fri, 06 Jun 2008 23:24:00 +0000

Stockholders Elect Board of Directors, Thomas Johnson Elected as Lead
Director

MCLEAN, Va., June 6 /PRNewswire-FirstCall/ — Freddie Mac (NYSE: FRE)
has “an unparalleled opportunity today to grow and build shareholder value
simply by doing our job” of providing stability, liquidity, and
affordability to the housing market, Chairman and Chief Executive Officer
Richard F. Syron said today during the company’s annual stockholders’
meeting.

Likening the company’s situation to a “Tale of Two Freddie Macs,” Syron
spoke of “very tough times in terms of the credit overhang we face. Yet
going forward, Freddie Mac is facing the best of times in terms of our
market share, market opportunities, more rational pricing and expected
revenue growth.”

Syron told stockholders about progress Freddie Mac has made, despite
the most severe housing downturn in decades. He outlined steps taken to
improve the company’s performance, including returning to timely and
current financial reporting; completing a major remediation of internal
controls; driving towards SEC registration; significantly improving and
simplifying accounting; taking necessary steps to adjust prices and credit
terms while continuing to subsidize affordable products; and acting
prudently and decisively to protect and bolster capital while continuing to
serve the company’s vital housing mission.

During the meeting, Freddie Mac’s stockholders elected 11 directors to
the company’s board of directors, and ratified the re-appointment of
PricewaterhouseCoopers LLP as the company’s independent auditor for the
fiscal year ending December 31, 2008. Stockholders also approved the
amendment and restatement of the 2004 Stock Compensation Plan.

Board of Directors
Members re-elected to Freddie Mac’s board of directors today are:

— Barbara T. Alexander, independent consultant.

— Geoffrey T. Boisi, chairman and chief executive officer of Roundtable
Investment Partners LLC.

— Michelle Engler, trustee of the JNL Investor Series Trust and JNL
Series Trust and member of the board of managers of the JNL Variable
Fund LLC.

— Robert R. Glauber, retired chairman and chief executive officer of
National Association of Securities Dealers, Inc.

— Richard Karl Goeltz, retired vice chairman and chief financial officer
of American Express Company.

— Thomas S. Johnson, retired chairman and chief executive officer of
GreenPoint Financial Corporation.

— William M. Lewis, Jr., managing director and co-chairman of investment
banking at Lazard Ltd.

— Nicolas Retsinas, director of Harvard University’s Joint Center for
Housing Studies.

— Stephen A. Ross, Franco Modigliani professor of financial economics at
the Massachusetts Institute of Technology.

— Richard F. Syron, chairman and chief executive officer of Freddie Mac.

Jerome P. Kenney, retired vice chairman of Merrill Lynch, also was
elected to the board of directors today.

In a meeting of the board of directors immediately following the
stockholders’ meeting, Richard Syron was re-elected chairman of Freddie
Mac’s board. Also, Thomas Johnson was elected lead director, taking over
for Shaun O’Malley who retired from the board after nearly seven years of
exceptional service.

The board of directors also made the following board committee
appointments:

— Audit Committee: Richard Goeltz, chairperson; Jerome Kenney, Robert
Glauber, Thomas Johnson, and Stephen Ross, members.

— Compensation and Human Resources Committee: Geoffrey Boisi,
chairperson; Barbara Alexander, Michelle Engler, Thomas Johnson, and
Jerome Kenney, members.

— Finance and Capital Deployment Committee: Stephen Ross, chairperson;
Robert Glauber, Richard Goeltz, William Lewis, Jr., and Nicolas
Retsinas, members.

— Governance, Nominating and Risk Oversight Committee: Thomas Johnson,
chairperson; Barbara Alexander, Geoffrey Boisi, Richard Goeltz, and
Stephen Ross, members.

— Mission, Sourcing and Technology Committee: Barbara Alexander,
chairperson; Geoffrey Boisi, Michelle Engler, William Lewis, Jr., and
Nicolas Retsinas, members.

Bylaws Amendments

In addition, the board of directors approved several amendments to
Freddie Mac’s bylaws, effective today. Further information about these
amendments will be included in an Information Statement Supplement to be
issued June 6, 2008. The Information Statement Supplement about the amended
bylaws will be posted on the Investor Relations page of the company’s Web
site at http://www.FreddieMac.com/investors. The amended bylaws also will be
posted on the Corporate Governance page of the company’s Web site at
http://www.freddiemac.com/governance.

Freddie Mac is a stockholder-owned corporation established by Congress
in 1970 to support homeownership and rental housing. Freddie Mac purchases
single-family and multifamily residential mortgages and mortgage-related
securities, which it finances primarily by issuing mortgage-related
securities and debt instruments in the capital markets. Over the years,
Freddie Mac has made home possible more than 50 million times, ensuring
financing for one in six homebuyers and more than four million renters.

See Also:

[Via Real Estate Newswire]

Freddie Mac Declares Quarterly Dividends

admin — Fri, 06 Jun 2008 23:22:00 +0000

MCLEAN, Va., June 6 /PRNewswire-FirstCall/ — The board of directors of
Freddie Mac (NYSE: FRE) today declared a quarterly dividend on the
corporation’s voting common stock of $0.25 per share. The board also
declared the following quarterly dividends on the corporation’s preferred
stock:

Description CUSIP NYSE Symbol Dividend Per Share

1996 Variable Rate 313 400 608 FRE.prB $0.34
5.81% (1997) 313 400 889 Not Listed $0.72625
5% (1998) 313 400 863 FRE.prF $0.625
1998 Variable Rate 313 400 848 FRE.prG $0.34
5.1% (1998) 313 400 855 FRE.prH $0.6375
5.3% (1998) 313 400 822 Not Listed $0.6625
5.1% (1999) 313 400 814 Not Listed $0.6375
5.79% (1999) 313 400 830 FRE.prK $0.72375
1999 Variable Rate 313 400 798 FRE.prL $0.4475
2001 Variable Rate (Jan) 313 400 780 FRE.prM $0.585
2001 Variable Rate (Mar) 313 400 764 FRE.prN $0.29291
5.81% (2001) 313 400 772 FRE.prO $0.72625
6% (2001) 313 400 749 FRE.prP $0.75
2001 Variable Rate 313 400 756 FRE.prQ $0.645
5.7% (2001) 313 400 731 FRE.prR $0.7125
5.81% (2002) 313 400 723 Not Listed $0.72625
2006 Variable Rate 313 400 715 FRE.prS $0.51
6.42% (2006) 313 400 699 FRE.prT $0.8025
5.9% (2006) 313 400 681 FRE.prU $0.36875
5.57% (2007) 313 400 673 FRE.prV $0.348125
5.66% (2007) 313 400 665 FRE.prW $0.35375
6.02% (2007) 313 400 657 FRE.prX $0.37625
6.55% (2007) 313 400 640 FRE.prY $0.409375
2007 Fixed-to-Floating 313 400 624 FRE.prZ $0.5234375
Rate

The second quarter dividends will be payable on June 30, 2008, to
stockholders of record as of June 16, 2008. For additional information
about Freddie Mac, please see our Web site at
http://www.FreddieMac.com/investors.

Freddie Mac is a stockholder-owned corporation established by Congress
in 1970 to support homeownership and rental housing. Freddie Mac purchases
single-family and multifamily residential mortgages and mortgage-related
securities, which it finances primarily by issuing mortgage-related
securities and debt instruments in the capital markets. Over the years,
Freddie Mac has made home possible more than 50 million times, ensuring
financing for one in six homebuyers and more than four million renters.

See Also:

[Via Real Estate Newswire]

GMH Communities Trust Authorizes Special Distribution

admin — Fri, 06 Jun 2008 22:50:00 +0000

NEWTOWN SQUARE, Pa., June 6 /PRNewswire-FirstCall/ — GMH Communities
Trust (”GMH” or the “Company”) (NYSE: GCT) today announced that the
Company’s board of trustees (the “Board”) authorized a special distribution
in the amount of $1.71 per share (the “Special Distribution”) to the
Company’s shareholders of record as of the close of business on the day
immediately prior to the effective time of the Company’s merger with an
affiliate of American Campus Communities, Inc. (”ACC”).

The Special Distribution is payable on June 12, 2008, subject to the
closing of the proposed merger of the Company with ACC. The proposed merger
is expected to occur on or about June 11, 2008, subject to the satisfaction
or waiver of closing conditions, including the approval of GMH shareholders
at the special meeting scheduled for June 10, 2008. The Special
Distribution is in addition to the merger consideration that GMH
shareholders will be entitled to receive under the terms of the merger
agreement following the closing of the proposed merger.

The Special Distribution was authorized by the Board for the purpose of
distributing, as previously announced, (i) a percentage of the amount
received in connection with the disposition of certain student housing
properties and (ii) the net proceeds from the pending sale of the Company’s
home office. In addition, a portion (approximately $0.98 per share) of the
Special Distribution is comprised of the remaining net proceeds from the
sale of GMH’s former military housing division. The sale of the home office
is expected to close immediately prior to the closing of the proposed
merger. If the sale of the home office is not completed, the Special
Distribution will be reduced by $0.029 per share.

The Company has filed a definitive proxy statement with the Securities
and Exchange Commission in connection with the proposed merger with ACC.
The definitive proxy statement was mailed to GMH shareholders on or about
April 29, 2008. A special meeting of the Company’s shareholders has been
scheduled for June 10, 2008 at 11 a.m. local time, at the Philadelphia
Marriott West, 111 Crawford Avenue, West Conshohocken, PA 19428, to vote on
the proposed merger.

About GMH Communities Trust

GMH Communities Trust (http://www.gmhcommunities.com) is a publicly-traded
Maryland real estate investment trust, or REIT. It is a self-advised,
self-managed, specialty housing company focused on providing housing to
college and university students residing off-campus. GMH Communities also
provides property management services to third-party owners of student
housing properties, including colleges, universities, and other private
owners. GMH Communities is based in Newtown Square, PA.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will,” “should,” “expect,”
“estimate” or other comparable terminology. Numerous risks, uncertainties
and other factors may cause actual results to differ materially from those
expressed in any forward-looking statement. Such risks, uncertainties, and
other factors include, but are not limited to, (i) the occurrence of any
effect, event, development or change that could give rise to the
termination of the merger agreement with ACC, (ii) the inability to
complete the merger, due to the failure of the Company’s shareholders to
approve the merger, (iii) the inability to close the sale of the Home
Office, (iv) the failure of any party to satisfy the conditions to the
closing of the merger, (v) the failure of ACC to obtain the necessary
financing arrangements described in the definitive proxy statement, (vi)
risks that the Company will not be able to pay all or any portion of the
Special Distribution because the merger or the sale of the home office does
not close (vii) risks that the proposed merger disrupts current plans and
operations and the potential difficulties in employee retention and (viii)
risks relating to the Company’s business presented in its filings with the
SEC. Forward-looking statements are made as of the date of this press
release, and the Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.

Additional Information and Where to Find It

This press release does not constitute an offer of any securities for
sale. In connection with the merger, ACC has filed with the SEC a
registration statement on Form S-4, which includes a proxy
statement/prospectus of GMH and ACC and other relevant materials in
connection with the proposed transactions. The proxy statement was mailed
to GMH shareholders starting on April 29, 2008. Investors and security
holders of GMH are urged to read the proxy statement/prospectus and the
other relevant material because they contain important information about
GMH, ACC and the proposed transactions. The proxy statement/prospectus and
other relevant materials, and any and all documents filed by GMH or ACC
with the SEC, may be obtained free of charge at the SEC’s web site at
http://www.sec.gov. In addition, investors and security holders may obtain free
copies of the documents filed with the SEC by GMH by directing a written
request to GMH Communities Trust, 10 Campus Boulevard, Newtown Square,
Pennsylvania 19073, Attention: Investor Relations. Investors and security
holders may obtain free copies of the documents filed with the SEC by ACC
by directing a written request to American Campus Communities, Inc., 805
Las Cimas Parkway, Suite 400, Austin, Texas 78746 Attention: Investor
Relations. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS AND THE OTHER RELEVANT MATERIALS BEFORE MAKING ANY
VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTIONS.

ACC, GMH and their respective executive officers, directors and
trustees may be deemed to be participants in the solicitation of proxies
from the security holders of GMH in connection with the merger. Information
about those executive officers and directors of ACC and their ownership of
ACC common stock is set forth in the proxy statement for ACC’s 2008 Annual
Meeting of Stockholders, which was filed with the SEC on April 2, 2008.
Information about the executive officers and trustees of GMH and their
ownership of GMH common shares is set forth in GMH’s Annual Report on Form
10K/A, which was filed with the SEC on April 29, 2008. Investors and
security holders may obtain additional information regarding the direct and
indirect interests of ACC, GMH and their respective executive officers,
directors and trustees in the Merger by reading the proxy statement and
prospectus regarding the merger.

See Also:

[Via Real Estate Newswire]

The 2008 Designer Show House in Nissequogue, NY is now for Sale

admin — Fri, 06 Jun 2008 22:35:00 +0000

All bids above $2.3 Million will be considered during the month of June

NISSEQUOGUE, N.Y., June 6 /PRNewswire/ — The 2008 Designer Show House
on the North Shore of Long Island in beautiful Nissequogue, NY has been put
on the market during the estate tours in June. In a unique twist, the home
is available individually or as the public see it on tours — completely
decorated and furnished with one of a kind antiques and accessories from
today’s top interior and exterior designers.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080606/NYF061 )

The estate is home to the 2008 Designer Show House during the month of
June and is featured on Long Island’s Great Homes, House TV and in the
upcoming issue of House Magazine.

The Show House boasts interior design talent from NYC to the Hamptons
and was originally decorated by the most famous interior designer of all
time, Elsie de Wolfe, considered the “Mother of Interior Design.” Much of
her work remains today, including her beautiful trelliage work, a rooster
mosaic, working marble fountain, Chinoserie paper mural, carved marble
fireplaces, and even some gilded cornices.

The mansion was owned by Albert A. Stewart, director and stockholder in
the Barnum & Bailey Circus and good friend of New York City Mayor William
Gaynor. Mr. Stewart was a first class passenger aboard the Titanic where he
met his untimely fate. In 1914, James W. Lane purchased the showhouse and
dubbed it ‘Suffolk House.’ He had the main house moved back from the water
and up the hill to its present day location to avoid high winds from the
sound. Under the direction of Arthur Little, a well known architect from
Boston, the exterior of the house was transformed into a Greek Revival with
20 foot tall fluted Corinthian columns and Elsie de Wolfe was commissioned
to take on the interior.

Encompassing almost 11,000 sq. ft and three levels of living space, the
Show House has undergone a massive restoration over the past several years.
Updated plumbing, heating, electric, septic and other systems have been
added.

Plaster moldings and walls have been restored and floors have been
refinished.

The house boasts 10 ft. ceilings, wide plank pegged teak flooring,
ornate plaster moldings, wainscoting, French paneling, carved marble
fireplaces, 19 sets of French doors, a 10,000 bottle wine cellar and Mosler
safes.

For more information or a private showing please contact Regina
Eldridge at (631) 862-1100, email regina@eldridgegang.com,
http://www.eldridgegang.com. For a virtual tour of the estate visit the link
http://vifp.com/p/panorama.php?Branded=1&agent=2619&mls=2081652.

For more information on the Show House, please call (631) 734 5894 or
visit http://www.2008designershowhouse.com.

See Also:

[Via Real Estate Newswire]

Accredited Names Jeff Walton as Chief Executive Officer

admin — Fri, 06 Jun 2008 21:51:00 +0000

SAN DIEGO, June 6 /PRNewswire/ — Accredited Home Lenders Holding Co.
(”Accredited” or the “Company”) and its subsidiary, Accredited Mortgage
Loan REIT Trust (Pink Sheets: AHHAP) (”REIT”), today announced that Jeff
Walton has been named as Chief Executive Officer of the Company, effective
immediately.

Mr. Walton replaces Jim Moran, who has served as interim Chief
Executive Officer since February 2008.

“Jeff is a highly experienced and proven executive with the right
qualities to lead Accredited during the current market environment as we
move forward,” said Len Allen, Lone Star Funds’ Senior Managing Director of
U.S. operations, which holds Accredited and other mortgage operations in
its portfolio.

“This is a tremendous opportunity and I’m delighted to lead
Accredited,” said Mr. Walton. “While there is a lot of work ahead as the
company enhances its product mix and retools for operational efficiencies,
I am excited and energized by the enormous potential I see at Accredited. I
look forward to working with Accredited’s team to increase the
opportunities available to our sales force, and position us for greater
success.”

Mr. Walton brings 25 years of experience in the mortgage industry.
Previously, Mr. Walton served as President, CEO and Senior Managing
Director of Bear Stearns Residential Mortgage Corporation (”BSRMC”), where
he was directly responsible for building and growing the company’s
wholesale and retention platform under a low-cost to produce business
model. Prior to launching BSRMC, Mr. Walton served as President of the
Mortgage Division for First National Bank of Arizona and First National
Bank of Nevada. Additionally, Mr. Walton has held various senior management
and Board positions in his career with Bank of Arizona, Bank of New Mexico,
Norwest Mortgage and Metropolitan Federal Bank, where he started his
career. Mr. Walton earned a Bachelor of Science Degree in Finance from
Arizona State University, where he graduated with Honors.

About Accredited Home Lenders Holding Co.

Accredited Home Lenders Holding Co. is the parent company of Accredited
Home Lenders, Inc., a mortgage company operating throughout the U.S.
Accredited Home Lenders, Inc. is in the business of originating, financing,
securitizing, servicing, and selling mortgage loans secured by residential
real estate. Founded in 1990, the company is headquartered in San Diego.
Additional information may be found at http://www.accredhome.com.

About Accredited Mortgage Loan REIT Trust

Accredited Mortgage Loan REIT Trust, a subsidiary of Accredited Home
Lenders, Inc., is a Maryland real estate investment trust formed in May
2004 for the purpose of acquiring, holding and managing real estate assets.

About Lone Star Funds

Lone Star Funds is a leading U.S. private equity firm. Since 1995, the
principals of Lone Star Funds have organized private equity funds totaling
more than $13.3 billion to invest globally in corporate secured and
unsecured debt instruments, real estate related assets and select corporate
opportunities. Additional information may be found at
http://www.lonestarfunds.com.

Media Contact:
Ed Trissel or Jaime Wert
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
etrissel@joelefrank.com or jwert@joelefrank.com

See Also:

[Via Real Estate Newswire]

Servidyne Raises Quarterly Cash Dividend, Declares Stock Dividend

admin — Fri, 06 Jun 2008 21:07:00 +0000

ATLANTA, June 6 /PRNewswire-FirstCall/ — SERVIDYNE, INC. (Nasdaq:
SERV), a building performance expert services and real estate company,
today reported that the Board of Directors declared a cash dividend in the
amount of $.04 per share, representing an 11.1% increase over the dividend
paid in the prior quarter. The dividend is payable on July 1, 2008, to
shareholders of record on June 17, 2008, and represents the Company’s 116th
consecutive quarterly cash dividend.

The Company also announced that the Board of Directors declared a 5%
stock dividend whereby each shareholder of record on June 18, 2008, will
receive one additional share of stock for every twenty shares owned as of
such date. The additional shares will be distributed on July 1, 2008. A
shareholder who would otherwise be entitled to receive a fractional share
will receive cash in lieu of such fractional share in a proportional amount
based on the closing price of the stock on the record date.

Established in 1925 and operating nationwide and internationally,
Servidyne provides comprehensive energy efficiency, infrastructure upgrade,
and productivity management solutions to building owners and operators, and
engages in commercial real estate investment and development. The Company’s
building performance products and services enable customers to optimize the
short-term and long-term financial performance of their building
portfolios, while reducing their carbon footprints and improving the
comfort and satisfaction of their buildings’ occupants. These offerings
include comprehensive sustainability programs, energy engineering and
energy management analytical consulting services, turnkey implementation of
energy savings and other infrastructure upgrade and retrofit projects, and
proprietary Web/wireless preventive maintenance and service request systems
with integrated utility and maintenance reporting. The Company also owns or
controls shopping centers in the Midwest and Southeast and office
properties in metropolitan Atlanta, Georgia. For more information about
Servidyne, please visit http://www.servidyne.com or call 770-953-0304.

Certain statements contained in this news release are forward-looking
statements within the meaning of federal securities laws. Such
forward-looking statements involve known and unknown risks, uncertainties
and other matters, including the risks and uncertainties set forth under
the heading “Risk Factors” in the Company’s Annual Report on Form 10-K,
which may cause the actual results, performance or achievement of
Servidyne, Inc. to be materially different from any past or future results,
performance, or uncertainties expressed or implied by such forward-looking
statements. Servidyne, Inc. does not undertake to update these
forward-looking statements.

See Also:

[Via Real Estate Newswire]