CPN 2008 GreenBook

Giants Pinnacle S eattle-based Pinnacle, an American Management Services company that employs more than 4,200, manages more than $17 billion worth of assets encompassing 160,000 multi-family units, 15 million square feet of office and industrial space, 60,000 units of affordable housing and 22,000 units of military housing. In December 2007, it opened an office near Arlington, Va., to support its growing number of military housing projects. The company has four regional operating companies STAN HARRELSON and more than 30 branch offices. President & CEO Working with Hunt DevelopPinnacle ment Group and Clark Realty, it is partnering with the Air Force, Army and Navy to provide housing for military families. In March 2008, Hunt Pinnacle completed 24 new homes, the first to be constructed through the family-housing-privatization initiative at Nellis Air Force Base in Clark County, Nev. Pinnacle manages the property, which will include 1,178 units upon the expected completion of the initial development plan in four years. In October 2007, Pinnacle and Hunt assumed management of family housing for a 50-year term at six military bases: Columbus Air Force Base in Mississippi; Laughlin Air Force Base, Randolph Air Force Base and Goodfellow Air Force Base in Texas; Maxwell Air Force Base in Alabama; and Vance Air Force Base in Oklahoma. During a five-year initial development period, the firms plan to spend $287 million in privatesector debt and equity to construct JAMES PALZER 324 Energy Star efficient homes, Vice President of the Northwest Region demolish 628 homes and renovate Pinnacle 1,374 homes. The new construction will begin immediately, and the first new homes are expected in fall 2008. PNC P NC’s real estate finance group provides finance and technology solutions for commercial real estate nationwide. PNC’s multi-family financing solutions span the life of a project and include programs with Fannie Mae, Freddie Mac and the Federal Housing Administration. For large construction and bridge loans, PNC can act as the agent bank and syndicate portions of the loans to additional lenders. It can also place permanent loans that do not fit agency parameters with other institutional investors. In 2007, PNC acquired ARCS Commercial Mortgage Co., now known as PNC ARCS. PNC ARCS has sat among the top Fannie Mae Delegated Underwriting and Servicing lenders for more than a decade and services a multi-family loan portfolio of over $13 billion. Including PNC ARCS transactions, PNC originated more than $3.8 billion in multi-family loans in 2007. PNC MultiFamily Capital provides investment opportunities in projects that generate low-income-housing tax credits via multiple-investor funds. PNC is completing its 40th tax-credit fund. Through such sources, PNC has arranged low-incomehousing tax-credit equity for and maintains an ownership interest in over 65,000 apartment units. DIANA REID Executive Vice President PNC Real Estate Finance PNC’s platform also includes Midland Loan Services, one of the largest third-party loan servicers and technology providers to the commercial and multi-family mortgage industry with more than $260 billion worth of loans. PNC’s real estate group brings several real estate-focused products and services together in one business while providing access to a complete array of banking and Treasury-management services through PNC Bank and capital markets products through PNC Capital Markets. In June 2008, the Urban Land Institute and the Financial Times honored parent company PNC Financial Services Group Inc. with an inaugural Sustainable Cities Award to recognize its work in environmentally friendly building. PNC was the largest U.S. corporation and the only financial-services company selected. “The real estate industry is increasingly aware that what gets built, and the resources used to build and maintain it, has an environmental cost. We are all well-versed in using financial language regarding real estate. We are just learning to understand the other measures—environmental ones.” Diana Reid, PNC Real Estate Finance 14 Commercial Property News The 2008 Multi-Family Greenbook

Table of Contents Feed for the Digital Edition of CPN 2008 GreenBook

CPN 2008 Greenbook Table of Contents Industry Update Green Update Giants Owners, Managers & Developers REITs Finance Firms Seniors Housing Providers Service Firms Software Providers Activity Index Alphabetical Master Listings

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