03/24/05: One of the most fascinating real estate stories this year is the battle over the proposed Jets Stadium on New York City 's West Side. This 13-acre site, one of the last remaining parcels available in Manhattan, has been the focus of a battle engaging two professional sports organizations, Madison Square Garden, Mayor Michael Bloomberg, community boards and just about every other special interest available. This is not unusual for Manhattan mega-deals. What has caught many by surprise is that the Jets' latest bid for the land--at $725 million--is an incredible jump from its original $100 million offer. Ultimately, I believe this land will end up in the hands of Gang Green. However, increasing an offer by more than 600% over the original sweetheart deal shows that there are definite advantages to an open process. Stay tuned; it 's really getting juicy.
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CB RICHARD ELLIS
(PHOENIX) Kevin Calihan has been promoted to vice president, moving up from his previous role as a broker in this local office. Calihan, who has been at CBRE since 1997, focuses on office properties.

NEWMARK MERRILL COS.
(WOODLAND HILLS, CA) Brad Pearl has been promoted to vice president of leasing and development/co-founder. Pearl helped form NewMark Merrill Cos. in 1997, creating its leasing and acquisition teams.

ARBOR COMMERCIAL MORTGAGE
(UNIONDALE, NY) Guy Milone has been named general counsel at this mortgage origination and securitization company. Milone was most recently at Ballard, Spahr, Andrews & Ingersoll LLP. Also, at the same time, Walter Horn, who was general counsel at Arbor since the firm's inception in 1996, will become director of compliance at Arbor Realty Trust, a REIT managed by Arbor Commercial Mortgage. Horn is also on the company's board of directors.

GMS REALTY
(CARLSBAD, CA) The firm has tapped Stephen M. Bowers as chief operating officer, bringing him in from Jones Lang LaSalle's retail group in San Diego, where he ran third-party asset management.

GRUBB & ELLIS
(NEW YORK CITY) Patrick K. Yu has been named appraiser in the company's valuation and advisory group. Yu was most recently a local real estate attorney at the Patrick K. Yu PC law firm.

HEI HOSPITALITY
(NORWALK, CT) Ernie Freedman has been named senior vice president and chief financial officer. He was most recently at GE Real Estate, serving in the global operations area. Also, Anthony R. Rutledge has been named general counsel at the company.

CYPRESS CREEK CAPITAL
(FORT LAUDERDALE, FL) Dan Greenberg has joined the firm as vice president of its capital markets group. Greenberg has left his prior post as president of Global Equity Consultants.

TRIMONT REAL ESTATE ADVISORS

Asset Manager

(CALIFORNIA)

While managing debt and equity portfolio of residential land development properties, this professional will formulate and execute deal resolutions, assess asset performance, review and approve monthly reports and semi-annual property valuations, and interact with attorneys, title agents, brokers and sales agents and construction consultants.

ROCKWOOD CAPITAL CORP.

Asset Manager

(CALIFORNIA)

Ideal candidate will oversee leasing, operating and cash-flow performance while integrating with local project partners to ensure each asset is receiving proper oversight and strategic insight. He or she will identify under-performing assets and recommend remedial measures while analyzing and negotiate lease transactions.

COMMERCIAL MORTGAGE SECURITIES ASSOCIATION

Director, Meetings

(NEW YORK)

Working for an association that holds many meetings per year, suitable applicant will negotiate hotel contracts, prepare and be responsible for meetings budgets and coordinate all meeting marketing materials. He or she will supervise meetings staff and run all F&B and facilities planning.

THOR EQUITIES LLC

Treasury Analyst

(NEW YORK)

Most qualified applicant will be able to maintain bank relationships and recommend or implement new bank products, manage cash accounts and monitor borrowing base schedules for credit lines. He or she will prepare and update rolling cash forecasts, open and close bank accounts and review all third-party cash management agreements.

SELECTLEADERS

Senior Underwriter

(TEXAS)

Senior underwriter will assess marketability, financial viability, and development characteristics of properties to be developed for residential use. This involves compiling and evaluating due diligence documents and preparing deal analysis packet, reporting on market trends and reviewing development plans, budgets, etc.

BANK OF AMERICA

Real Estate Fund Manager

(MASSACHUSETTS)

Ideal candidate will design and coordinate fundraising activities for new fund vehicles, which includes setting portfolio strategy, reviewing and interpreting partnership agreements and other legal documents in the course of developing property/fund strategies, preparing quarterly and annual investor reports and collaborating with legal staff on compliance issues.

EQUINOX PARTNERS

Managing Director, Corporate Services

(ILLINOIS)

Reporting directly to the president and CEO, successful candidate must effectively manage client relationships and interact with senior real estate executives to source opportunities. He or she will direct the internal and external efforts to grow corporate services business and oversee service delivery and account management for large clients.

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