Gebroe-Hammer Associates
2 West Northfield Road
Livingston, NJ 07039

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Release Date: Thursday, April 5, 2007

GEBROE-HAMMER NAMES ELI ROSEN 2006 SALESPERSON OF THE YEAR
Annual Award Recognizes Outstanding Sales Achievement

LIVINGSTON, N.J., April 5, 2007 – Eli Rosen, assistant vice president, has received Gebroe-Hammer’s top honor, the 2006 Morris Hammer Salesperson of the Year Award.

The annual award distinguishes one salesperson at Gebroe-Hammer for exceptional performance. Rosen was selected because of his contribution in extending the firm’s reach into the Philadelphia region and his sales for 2006 reaching $150 million. This included 1,860 multi-family units in the Philadelphia market. The award not only recognizes outstanding sales achievements, but growth in new business and commitment to excellence. The recipient is chosen by a vote from his peers at Gebroe-Hammer.

“Eli has quickly acquired a unique instinct for the business of investment real estate,” noted Ken Uranowitz, managing director. “He is highly motivated, very bright, and he enjoys the challenge of entering new markets and getting results. As a result, he is well-liked and has earned the respect of his peers within the organization and also from the many clients, financial institutions and attorneys with whom he does business.”

The award is named in memory of Morris Hammer, cofounder of the brokerage firm, which specializes in the sale of multi-family, retail and commercial investment properties.

Rosen, who resides in Lakewood, N.J., began working for Gebroe-Hammer two years ago, and he attributes his rapid success at Gebroe-Hammer to his supervisor, Joel Schwartz, executive vice president, and Joseph Brecher, a very successful senior vice president with the firm. The team of Rosen and Brecher has closed more than $100 million in transactions in the past two years.

The largest transaction negotiated by the team of Rosen, Brecher and Schwartz involved the $40 million sale of a 495-unit residential building located on School Lane House in the East Falls section of Philadelphia. The property included 15,000 square feet of office and retail space. Gebroe-Hammer represented the seller and procured the buyer.

Other major transactions included the $34 million sale of St. Ives Apartments, a 514-unit garden apartment complex located at 3300 Woodhaven Road in Philadelphia. The property sold within two weeks of receiving the exclusive listing. Gebroe-Hammer represented the seller and procured the buyer.

In another transaction, the team of Rosen and Schwartz negotiated the sale of a 25,000-square-foot shopping center located on Byberry Road in northeast Philadelphia. The selling price for the property was $1.785 million, financed by the purchaser with cash over a new mortgage. Gebroe-Hammer Associates assisted with the preparation of a new lease as well as the re-zoning of the property in this transaction, and the retail center is now 100 percent occupied.

“Before I started at Gebroe-Hammer two years ago, I was already working for another brokerage firm, and I knew of Gebroe-Hammer’s reputation and their command of the industry,” remarked Rosen. “I decided to make the move here, and attribute my success to the supervisory help and constant training, which has been second to none.”

“I was honored to receive this designation from the top brokerage firm in the industry,” he added. Rosen and his wife received a Florida vacation including airfare and hotel accommodations at the Sheraton Bal Harbour in Miami Beach.

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Gebroe-Hammer, is the dominant brokerage firm in the New Jersey tri-state region, specializing in investment/sales of multi-family, retail, and office properties. The company provides innovative brokerage services to a wide range of private owners, REITS, private equity firms and other institutional investors. Gebroe-Hammer’s proven track record on behalf of its clients has resulted in consistent growth every year since its inception, with a large percentage of repeat business from owners and investors. Most recently, in 2006, the company experienced a record increase of more than 25 percent overall in revenues as compared with 2005, which also was another record-setting year. The firm’s brokerage activity encompasses diverse property categories, ranging from suburban high-rise, mid-rise and garden-apartments to retail and office properties including real estate in urban areas undergoing revitalization and redevelopment initiatives. The company’s prime geographic area of focus includes New Jersey, Pennsylvania and New York, with additional transactions nationwide as well as representation of owners located around the globe.

Gebroe-Hammer Associates
2 West Northfield Road, Suite 301
Livingston, NJ 07039
Phone: 973-994-4500
Fax: 973-994-9752