Friday, February 17, 2012
SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today announced the appointment of Timothy W. Taylor as Chief of the Enterprise Solutions Development Division.
Taylor replaces Ron Reagan, who retired last year. He will report to Dale Jablonsky, CalPERS Assistant Executive Officer of CalPERS Information Technology Services Branch.
“Tim is an outstanding technology manager with a wealth of experience and expertise in developing automated business solutions,” said Jablonsky. “I am confident CalPERS members, employers, and staff will be very well served by this appointment and his continued work to develop technology solutions that support our organization.”
Taylor has spent more than 14 years at CalPERS, promoting up the ranks from Staff Services Analyst to the Assistant Division Chief responsible for application development and support. He has a strong background in application architecture and played a major role in the development of the CalPERS website and the my|CalPERS business application.
Taylor has a BA in communications studies and an MA in multimedia production and design from California State University, Sacramento.
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Edward Fong, Information Officer
Morrison Commercial Real Estate and Morrison CLW Property Services Announce New Leasing and Management Assignment of Grand National Plaza and the Vanguard Building.
ORLANDO, FL (fFeb. 17, 2012): Greg Morrison, CCIM, SIOR, Principal and Founder of Morrison Commercial Real Estate, announced that Morrison Commercial Real Estate and Morrison CLW Property Services have been awarded the leasing and management of Grand National Plaza (top left photo) and the Vanguard Building, totaling 270,273± square feet located at the corner of Grand National Drive and Vanguard Street in Orlando, FL.
Lisa Bailey (middle right photo) and Phil Marchese (lower left photo) of Morrison Commercial Real Estate will handle the leasing for these properties while Terri Walther and Michelle Jimenez will oversee the day to day operations. The Morrison team will be focused on repositioning these properties which will include significant capital improvements and rebranding.
Grand National Plaza is a professional office and flex property servicing tenants on a full service and triple net basis. Executive Suites are also available.
The Vanguard building is approximately 44,000 square feet with the ability to be subdivided into four quadrants and has an abundance of parking at 8:1000. Space is immediately available at both of these properties conveniently located near International drive with easy access to Interstate-4, the Florida Turnpike, the Beachline and Kirkman Road.
"Acquiring these communities gives us the opportunity to move forward with renovating and repositioning these assets to improve their financial performance,” said Bill Sheriff (top right photo), Brookdale's Chief Executive Officer.
“By owning these assets outright, we will capture the assets' entire value creation potential and preserve important optionality with respect to these assets, including the ability to expand some of these communities if we decide to do so or to dispose of those that may not fit our long-term strategy,"
The Company financed the transaction with $77.9 million of first mortgage financing secured by seven of the communities and $15.0 million of seller-financing secured by two of the communities.
The $77.9 million first mortgage facility has a 10-year term. 75% of the facility bears interest at a fixed rate of 4.21% and the remaining 25% of the facility bears interest at a variable rate of 30 day LIBOR plus a margin of 276 basis points. The $15.0 million mortgage loan has a two year term and bears interest at a fixed rate of 7.0%.
Additionally, the Company announced that it had obtained a $63.0 million first mortgage loan secured by one of the Company's communities. The loan has a five year term and bears interest at a variable rate of 30 day LIBOR plus 300 basis points.
In connection with the transaction, the Company repaid a $62.8 million first mortgage loan that was scheduled to mature in 2013. The refinancing transaction represents another step in the process of the Company's plan for addressing its 2013 debt maturities.
Contact: Ross Roadman, Brookdale Senior Living Inc., +1-615-564-8104
Web Site: http://www.brookdaleliving.com
Foreclosure Activity Increases 3% in January, According to RealtyTrac® U.S. Foreclosure Market Report
IRVINE, CA— RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, released its U.S. Foreclosure Market Report™ for January 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 210,941 U.S. properties in January. That was a 3 percent increase from the previous month but still down 19 percent from January 2011.
The report also shows one in every 624 U.S. housing units with a foreclosure filing during the month.
“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore (top right photo), CEO of RealtyTrac.
“Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Illinois, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.
“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued.
“The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year.
“Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders.
“We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”
For a complete copy of the company’s news release and statistics, please contact:
949.502.8300, ext. 268
949.502.8300, ext. 139
Order Custom Data:
949.502.8300, ext. 158