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BETHESDA, MD. — Bethesda-based Walker & Dunlop has merged with Green Park Financial of Bethesda and Column Guaranteed, a subsidiary of Credit Suisse Group. The deal, which combines the three companies under the Walker & Dunlop name, took effect January 31. With the merger, Walker & Dunlop will originate Fannie Mae, Freddie Mac, HUD and other loans to an expected annual tune of more than $3 billon. Discussion about the merger began 1 year ago when Credit Suisse started looking into unloading Column Guaranteed. “They thought about selling it, they thought about keeping it and they thought about doing a merger with somebody,” says William M. Walker, CEO of Walker & Dunlop (pictured). “We were effective in convincing them that we were the best alternative.” Walker is joined in the company’s administration by Vice Chairman Kieran Quinn, president of Column Guaranteed. Beekman Advisors and Morgan Lewis & Bockius represented Walker & Dunlop in the merger. Ballard Spahr Andrews & Ingersoll represented Credit Suisse. The combined operation means a broader reach and an ability to more personally assist customers outside the Northeast. The company will continue to work out of its Bethesda headquarters, but will also house offices in Atlanta, Baltimore, …

SUGAR LAND, TEXAS — Planned Community Developers is advancing construction for Lake Pointe Village, the retail component of the 190-acre Lake Pointe Town Center mixed-use development, located at the intersection of highways 6 and 59 in Sugar Land. Phase I was recently completed and is currently 100 percent leased to a tenant roster that includes Potbelly Sandwich Works, FedEx Kinko’s, Charles Schwab, Zounds Hearing, Sprint, Hinz Jewelers, Emmanuel Salon, Massage Heights, Isle Pedi Spa, Pearle Vision, Sugar Cycles, Snip-its, Texas Running Co., Hest Fitness, Natural Pawz, Kalologie Skincare and Mattress Expo. Phases II and III are also under way. Phase II comprises a 43,539-square-foot addition that will include an expansion of the existing, Whole Foods-anchored shopping center, as well as the construction of two freestanding buildings. Leases for this phase have already been signed with Azuma Sushi & Robata Bar, Five Guys Burgers & Fries and Mission Burritos. Phase II is scheduled for completion in the first quarter. Phase III will include the construction of two multi-tenant restaurant buildings totaling 20,107 square feet that will be situated along the center’s waterfront boardwalk fronting the 37-acre Brooks Lake. Post Oak Grill has already signed a lease for this phase, which will …

SEATTLE — As part of its first quarter fiscal results released Wednesday, Jan.28, Starbucks Corp. announced that it will close an additional 300 stores in fiscal 2009, impacting an estimated 6,000 workers at those locations. Starbucks previously announced in July 2008 that it would close 600 locations. Approximately 200 of the stores to be closed in the second round are in the U.S., with 100 international locations also set to close. The company plans to open 140 new locations in fiscal 2009 in the U.S., while it plans to open 170 new international stores. In addition to store employees, about 700 corporate jobs will be eliminated, with half at Starbucks support center in Seattle.

COLUMBUS, DUBLIN AND WEST JEFFERSON, OHIO — Battelle, a Columbus-based nonprofit organization specializing in science and research, will invest $200 million in the construction and renovation of various central Ohio facilities. “We continue to advance science and accelerate our development of innovative products, services and solutions in the areas of energy, national security, and the health and life sciences,” says Jeff Wadsworth, president of Battelle. In West Jefferson, a new 160,000-square-foot health and life sciences research laboratory is slated to open in 2011. It will be used for biomedical research and development. At the company’s main campus in Columbus, Battelle will be modernizing and renovating its offices and laboratories to incorporate energy efficient features. Several projects will be built to LEED specifications. With plans to renew the lease at its production facilities campus in Dublin, Battelle looks to expand light manufacturing capacity and increase production of electronic components. These items are used for energy efficiency, within the medical community and by U.S. military forces. The company employs approximately 20,000 people and will also break ground on a 16,000-square-foot childcare facility for its employees’ children at the Columbus location. All of the projects are expected be completed within 3 years and …

NEW ORLEANS — St. Louis-based McCormack Baron Salazar will break ground February 1 on a $172 million redevelopment of the historic C.J. Peete public housing property, located in the Central City neighborhood of New Orleans. The development team includes St. Louis-based KAI Design & Build, the Housing Authority of New Orleans and the New Orleans Neighborhood Development Collaborative. When finished, the 550,000-square-foot property will include 410 garden and townhome units, a 40-unit apartment building and a separate apartment building housing 10 units. Delivery is expected in January 2011. The C.J. Peete redevelopment project was launched to fill the housing void left after Hurricane Katrina. “There’s a tremendous need for housing in New Orleans, particularly workforce housing,” says Vince Bennett, executive vice president of McCormack Baron Salazar. “Along with the housing authority‘s three other major developments, referred to as the big four, it will create almost over half a billion dollars in development in the city.” Redevelopment of the C.J. Peete site has been in the works since 1997, when housing authority officials demolished part of the 68-year-old property; the remainder of the building was torn down last spring. The redevelopment’s proposed design is meant to mirror the project’s historical significance. …

WEST JEFFERSON, OHIO, AND PLAINFIELD, IND. — CB Richard Ellis Realty Trust and Duke Realty Corp. have purchased two build-to-suit bulk warehouse/distribution facilities for $99.7 million. The two properties were the final sites identified in the initial portfolio under the companies’ joint venture agreement. “The venture was created in May 2007 with the goal of purchasing $800 million of industrial property in 3 years, and these additional assets support that strategy,” explains Robert Chapman, chief operating officer for Duke. “They are the [targeted] product types and have highly-valued tenants, [and they] are newer properties that were completed within the past year.” The facilities, which are fully occupied on long-term leases, are Class A, single-tenant structures. In the Columbus suburb of West Jefferson, the joint venture has acquired an approximately 1.15 million-square-foot facility located just off of Interstate 70. The building is occupied by Kellogg Sales Co. In Plainfield, the joint venture has acquired an approximately 1.2 million-square-foot building located at 1750 AllPoints Parkway. Prime Distribution Services occupies the facility, which is situated 1 mile from the Indianapolis International Airport. “This venture will continue to allow Duke to retain an interest in key bulk industrial build-to-suit projects, recycle a significant amount …

ATLANTA — Atlanta-based Capital 33 has joined together with JP Morgan Chase & Co. to develop a 325-unit apartment community near the future site of Atlanta’s Beltline transportation corridor. The 297,600-square-foot property, located at 880 Glenwood Ave. in Atlanta, will sit next to Green Street Properties’ Glenwood Park development. Construction of the apartments, which will cost in excess of $46 million, is expected to commence this summer, with a completion date of winter 2010. 880 Glenwood is a former industrial site that was purchased by Capital 33 last year for $5.3 million. On this brownfield site, the developers are planning to build their property to Silver LEED certification. Units will include energy-saving windows, low-flow fixtures and other environmentally friendly features. Colin Cavill, a principal partner at Capital 33, first developed the idea for the project when he visited the Glenwood Park area with his son. “I liked the walkability of it,” he says. “I wanted to try and create a development that could use those amenities.” The prospect of building an apartment complex in the area was enough for Cavill, but the Beltline’s projected presence sweetened the pot. “Having this amenity for our residents in the future is an added …

WESTCHESTER COUNTY, N.Y. — Home Properties LP has sold a 324-unit multifamily portfolio to Morgan Bari Manor LLC, Morgan Hudson View LLC, Morgan Sherwood LLC, Morgan Sparta Green LLC and Morgan Patricia LLC for $36.5 million. The six communities are detailed below: • Patricia Apartments is located Peekskill, N.Y., and consists of 100 one-bedroom flats and two- and three-bedroom townhome units. • Bari Manor Apartments is located in Croton-on-Hudson, N.Y., and consists of 82 studio, one-, two- and three-bedroom apartment units. • Hudson View Estates is located in Peekskill, N.Y., and consists of 71 one-, two- and three-bedroom apartment units. • Sparta Green Apartments is located in Ossining, N.Y., and consists of 43 one- and two-bedroom flats and two-bedroom townhome units. • Sherwood Townhouse and Sherwood House are located in Ossining, N.Y., and consist of 28 one-bedroom flats and two-bedroom townhome units. Steve Witten and Victor Nolletti of the New Haven, Conn., office of Marcus & Millichap Real Estate Investment Services, and Mark Walsh and John Thomas of Smithtown, N.Y.-based Select Investment Realty Advisors were the sole brokers in the transaction. Witten says despite foreseeable difficulties in 2009, the multifamily sector will pull through. “Multifamily is certainly the preferred product …