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Marketwire - Residential Real Estate
Marketwire - Residential Real Estate

• Retrocom Mid-Market REIT Announces Close of Property Sale and Refinancing Update
  TORONTO, ONTARIO--(Marketwire - Dec. 23, 2008) - NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCE Retrocom Mid-Market Real Estate Investment Trust (TSX:RMM.UN) (the "REIT") announced today that it has closed the sale of Plaza La Sarre in La Sarre, Quebec for approximately $4.5 million to a local buyer. Net proceeds of $4.4 million were used to pay down to $12.7 million the bridge loan in the original amount of $33.5 million. In July 2008 the REIT used the proceeds of the bridge loan to refinance a $30 million debenture and repay a property mortgage. This facility does not have any further scheduled principal repayments prior to its maturity in July 2010.
• CFS Bancorp, Inc. Elects Not to Participate in U.S. Treasury Capital Purchase Program
  

  Declares 4th Quarter Dividend of $0.04 per Share

• Franklin Street Properties Corp. Acquires Two Buildings in Sterling, Virginia
  

  WAKEFIELD, MA--(Marketwire - December 23, 2008) - Franklin Street Properties Corp. ("FSP") (NYSE Alternext US: FSP) (AMEX: FSP), an investment firm specializing in real estate, announced today its acquisition of two buildings in Sterling, Virginia for a purchase price of $18,500,000. Completed in 1999, the buildings contain an aggregate of approximately 135,000 square feet of rentable space and are 100% leased. The buildings are currently used as flexible space, including office, storage and light assembly/manufacturing. Sterling is located within the greater Washington, D.C. metropolitan area and is approximately five miles from Dulles International Airport. FSP has owned suburban properties in the greater Washington, D.C. metropolitan area since 2001.

• Freedom Financial Holdings: "Heavy Oil" Technology Field Test Improves Oil Production
  

  FORT WAYNE, IN--(Marketwire - December 23, 2008) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that the company has completed another field test in which the "Heavy Oil" technology improved oil production over 360%.

  Kistler stated, "On 11-21-08, Freedom Financial Holdings, Inc. and Carmel Energy, Inc. began a field test in the north field of an active lease held by CRMY in Vernon County, Deerfield, Missouri. There were 14 wells that received a small amount of our technology. Prior to the treatment of these wells, the concentration of oil in the fluid being pumped each day averaged between 12%. After five weeks of daily monitoring, the concentration of oil in the fluid being pumped each day is now averaging in excess of 50% and the amount of oil recovered during the test was 364% higher than what would have been expected from prior averages."

• Spirit of Giving at Sell My Timeshare NOW
  

  DOVER, NH--(Marketwire - December 23, 2008) - The employees of Sell My Timeshare NOW have stepped up in a big way this holiday season, reaching out to others less fortunate in their community. Partnering with the Strafford County Community Action Committee, as part of its 2008 Holiday Food Donation Program, Sell My Timeshare NOW has collected nonperishable food items to be distributed to families in need in the Dover, New Hampshire area.

  Jason Tremblay, CEO of the timeshare resales and rental advertising company, explains the enthusiastic response of the employees in this way: "At a time when so many around us are struggling, our company has seen record growth and expansion. Our staff recognizes that many of our friends and neighbors in the Dover community are hurting and we feel a tremendous obligation to help in any way we can."

• Brookfield Homes Announces Rights Offering
  FAIRFAX, VIRGINIA--(Marketwire - Dec. 23, 2008) - Brookfield Homes Corporation (NYSE:BHS) today announced that it has filed a registration statement with the Securities and Exchange Commission with respect to a proposed rights offering to its common stockholders of up to 10,000,000 shares of 8% convertible preferred stock. Each whole right will entitle the holder to purchase one share of convertible preferred stock for $25.00. Each share of preferred stock will be convertible into common stock, at an initial conversion rate of 3.571428571 shares (equivalent to a conversion price of $7.00 per share).
• Royal Host REIT Announces Departure of Executive Vice President
  CALGARY, ALBERTA--(Marketwire - Dec. 22, 2008) - Royal Host Real Estate Investment Trust ("Royal Host" or the "Trust") (TSX:RYL.UN) (TSX:RYL.DB.A) (TSX:RYL.DB.B) (TSX:RYL.DB.C) (TSX:RYL.DB.D) today announced that Executive Vice President, Patrick Lambie, will be leaving the Trust, effective February 6, 2009. Mr. Lambie's responsibilities will be assumed by Royal Host's executive team who will work with him over the next month to ensure a smooth transition. The executive team, together with the Committee of the Trustees, will continue to manage the day-to-day operations of the Trust.
• Washington Federal Declares $0.05 Cash Dividend
  

  SEATTLE, WA--(Marketwire - December 22, 2008) - The Board of Directors of Washington Federal, Inc. (NASDAQ: WFSL), parent company of Washington Federal Savings, today announced a quarterly cash dividend of 5 cents per share. The dividend will be payable January 16, 2009 to common stockholders of record on January 2, 2009. This will be Washington Federal's 104th consecutive quarterly cash dividend.

  This cash dividend of 5 cents per share represents a decrease of 16 cents or 76% compared to the 21 cents per share paid by the Company in October 2008. The decision to reduce the cash dividend results primarily from significantly higher credit costs due to continued deterioration in the general economy and the housing market. For the quarter ended December 31, 2008, the company expects to record a provision for loan losses of approximately $35 million and believes that total non-performing assets will be approximatel

• Affordable Housing Is a Priority for Overcoming the Crisis and Achieving the Millennium Development Goals
  

  Secretariat and the Real Estate Market Advisory Group (REM) of the United Nations Economic Commission for Europe, With the Support of the International Real Estate Federation (FIABCI), to Develop Guidelines

• Hearthstone, Inc. Proudly Accepts Award for Excellence in Home Design From the National Association of Home Builders
  

  DANDRIDGE, TN--(Marketwire - December 22, 2008) - "Each year, the Building Systems Council honors industry leaders through its Excellence in Marketing and Home Design awards program. The awards honor those excelling in building with systems in the categories of exceptional home design and marketing materials." Hearthstone, Inc. submitted the 'Jennings guest house,' in the category of Log Homes under 2300 square feet. In November, it was announced that Hearthstone, Inc. won an award for the design of the Jennings guesthouse. The home is roughly 835 square feet, well under the 2300 square feet limit, but offers a great layout with wonderful design details. The floor plan is based on the design of the main structure. The homeowner wanted the two homes to "look alike." The floor plan features a great-room, kitchen and power room on the main floor, with a sleepi

• Case Unveils New Web Site
  

  New Site Features Improved Architecture, Rich Content and Enhanced Design

• Idaho Bancorp Receives Preliminary Approval to Participate in U.S. Treasury's TARP Program
  

  BOISE, ID--(Marketwire - December 22, 2008) - Idaho Bancorp (OTCBB: IDBC) announced today that it has received preliminary approval for up to $6.9 million in investment funds from the U.S. Department of Treasury's TARP Capital Purchase Program. The anticipated investment is subject to standard closing conditions and the execution of definitive agreements.

  The TARP Capital Purchase Program is a voluntary program to encourage qualifying U.S. financial institutions to build capital to increase the flow of financing to U.S. bu