Sunday, May 4, 2008

Harkins Breaks Ground on $2.4M Bright Horizons Family Solutions Child Care and Early Education Center in Tampa Palms, FL

TAMPA, FL – Harkins Development Corporation, the full-service development and general contracting division of Orlando-based Harkins Companies, has broken ground for the new $2.4 million, three-building, 12,000-square-foot Bright Horizons Family Solutions child care and early education center located at 5171 Cypress Preserve Drive in Tampa Palms, FL.

According to Harkins Development Corporation president Matt Harkins, (top right photo) the project will include three 4,000-square-foot buildings as well as site improvements and a swimming pool. Designed by Rojo Architects, Tampa, the project is slated for completion in October 2008.

Based in Watertown, Massachusetts, Bright Horizons Family Solutions is the world’s leading provider of employer-sponsored child care and early education programs, serving more than 600 clients including ninety Fortune 500 companies.

For more information, visit http://www.harkinscompanies.com/.

CONTACT:
Kenneth H. Cristol, President,
Cristol Marketing Company
237 Hunt Club Blvd., Suite 102,
Longwood, FL 32779 USA
PH 407-774-2515
FX 407-774-6647
Strategic Marketing, Brand Management,
Publicity and Advertising,
and Corporate Communications
Posted by Alex at 1:37 PM 0 comments
Labels:

Edwards Construction Completes $5M Warehouse Addition at Pepsi Bottling Plant in Orlando, FL

ORLANDO, FL – Edwards Construction Services, Inc.’s Food and Beverage division has completed a $5 million, 55,000-square-foot warehouse addition at the Pepsi Bottling Plant at 1700 Directors Row in Orlando, FL.

Constructed of tilt-wall with a Butler Manufacturing roof system, the expansion also includes recycling facilities, a trash compactor room and increased truck parking capacity.

Edwards’ Food and Beverage division, which has handled numerous Pepsi Bottling projects throughout the Southeast, has been a major driver in the company’s substantial growth over the past decade.

Its projects have included countless facilities for other leading clients including Pioneer Growers, Spice World, Taylor Farms, TKM Farms and more. A nationally recognized leader, Edwards Construction Services, Inc. was founded in Ocala, Florida, in 1978. The company’s Orlando office is located at 4301 Vineland Road, Suite E-12, phone 407-872-1812.

Headquartered at 85 S.W. 52nd Avenue, Ocala, Florida 34474, telephone 352-854-6266, the company has also operated an Orlando office since 1999. For more information, visit the company’s website at http://www.edwardsconstruction.com/.

CONTACT:
Kenneth H. Cristol, President,
Cristol Marketing Company
237 Hunt Club Blvd., Suite 102,
Longwood, FL 32779 USA
PH 407-774-2515
FX 407-774-6647
Strategic Marketing, Brand Management,
Publicity and Advertising,
and Corporate Communications
Posted by Alex at 12:39 PM 0 comments
Labels:

Johnson-Laux Starts Public Works Administration Building in Suburban Oviedo, FL

ORLANDO, FL – Orlando-based Johnson-Laux Construction is under way on the new $1.9 million, 5,500-square-foot LEED-Gold certified City of Oviedo Public Works Administration Building at 1655 Evans Street in the Orlando suburb of Oviedo, FL.

Slated for completion in December 2008, the sustainable “green” building project is being managed by Anthony Laux, (top right photo) Vice President, and Carolyn Mercurio, Project Manager.

Headed by LEED-Accredited Professional Kevin Johnson, President, and Anthony Laux, Vice President, Johnson-Laux is a full-service construction management and general contracting firm specializing in mission-critical healthcare, industrial, multi-family, office, retail and other projects throughout Central Florida.

The company routinely offers pre-construction planning, design-build and general construction services for cardiovascular, imaging and surgery centers, hospital construction and renovations, medical office buildings, office buildings, restaurants, retail, theme parks, townhouse/condominium and industrial warehouse/distribution projects.

Johnson-Laux Construction is located at 4502 35th Street, Suite 500, Orlando, FL, phone 407-770-2180. For more information, visit http://www.johnson-laux.com/.

CONTACT:

Kenneth H. Cristol, President,
Cristol Marketing Company
237 Hunt Club Blvd., Suite 102,
Longwood, FL 32779 USA
PH 407-774-2515
FX 407-774-6647
Strategic Marketing, Brand Management,
Publicity and Advertising,
and Corporate Communications
Posted by Alex at 11:03 AM 0 comments
Labels:

Marcus & Millichap Capital Corp. Arranges $5.2M Loan for Oceanside, CA Hotel

OCEANSIDE, CA-– Marcus & Millichap Capital Corporation (MMCC) has arranged a $5.2 million loan to purchase a 67-room Ramada Inn (top right photo) located at 1440 Mission Ave. in Oceanside.

Sharone Sabar, an associate in the firm’s Encino office, arranged the financing package for the Ramada Inn.
Financing for the property was provided by a commercial lender at an adjustable interest rate at Prime plus 0.5 percent. The terms of the loan were 10 years with a 25-year amortization schedule. The loan-to-value was 77 percent.

“Obtaining high-leverage loans is a challenge in today’s marketplace,” says Sabar. “MMCC was able to close the deal in 40 days, with high leverage, and obtain a great rate for the borrower.”


CONTACTS:

Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/

Press Contact:
Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704
Posted by Alex at 10:35 AM 0 comments
Labels:

Claire's Stores Inc. Downgraded To 'B-' After Last Year's Poor Performance

NEW YORK, NY--Standard & Poor's Ratings Services has lowered its corporate credit rating on Pembroke Pines, Fla.-based Claire's Stores Inc. to 'B-' from 'B'.

At the same time, we lowered the ratings on the company's $1.65 billion senior secured credit facilities to 'B' from 'B+', its $600 million senior unsecured notes to 'CCC+' from 'B-', and its $335 million senior subordinated notes to 'CCC' from 'CCC+'. The outlook is negative.

"The downgrade reflects the poor performance over the past year, which was well below our expectations," said Standard & Poor's credit analyst David Kuntz. Claire's credit protection profile weakened modestly concurrently with the deterioration of operations.
Media Contact:
David Wargin, New York, (1) 212-438-1579, david_wargin@standardandpoors.com
Analyst Contact:
David M Kuntz, New York, (1) 212-438-5022
Posted by Alex at 10:10 AM 0 comments
Labels:

BRE Properties Reports First Quarter 2008 Results


SAN FRANCISCO, CA/PRNewswire-FirstCall/ -- BRE Properties, Inc. (NYSE:BRE) reports operating results for the quarter ended March 31, 2008. All per share results are reported on a fully diluted basis.


(For a detailed copy of BRE’s news release, please contact Edward F. Lange Jr., (top right photo) BRE's Executive Vice President and Chief Operating Officer or Thomas Mierzwinski, Media Communications, at the phone numbers at the bottom of this release.)


Funds from operations (FFO), the generally accepted measure of operating performance for real estate investment trusts, totaled $35.7 million, or $0.68 per share, for first quarter 2008, as compared with $32.2 million, or $0.61 per share, for the quarter ended March 31, 2007, an increase of 11.5%. (A reconciliation of net income available to common shareholders to FFO is provided at the end of this release.)


Net income available to common shareholders for the first quarter totaled $14.2 million, or $0.28 per share, as compared with $11.9 million, or $0.23 per share, for the same period 2007.


Total revenues from continuing operations for the quarter were $86.6 million, as compared with $79.7 million a year ago. Adjusted EBITDA for the quarter totaled $59.9 million, as compared with $56.5 million in first quarter 2007. (A reconciliation of net income available to common shareholders to Adjusted EBITDA is provided at the end of this release.)


BRE's positive year-over-year earnings and FFO results were driven primarily by improved same-store property-level operating results, income from newly developed properties, and occupancy stabilization at the Mission Peaks redevelopment property in Fremont, California.


CONTACT:

Investors, Edward F. Lange, Jr.,
+1-415-445-6559, or
Media, Thomas E. Mierzwinski,
+1-415-445-6525
Posted by Alex at 9:48 AM 0 comments
Labels:

French Lick Resorts & Casino Senior Notes Rating Cut To 'D'



(Photo above shows the historic, 443-room French Lick Springs Hotel, opened in 1845 with an additional wing built in 1901. Franklin Delano Roosevelt declared his candidacy for president at this hotel in 1931.)


NEW YORK, NY--Standard & Poor's Ratings Services has lowered its corporate credit rating on French Lick Resorts & Casino LLC (FLRC) to 'SD' (selective default) from 'CCC'.

At the same time, Standard & Poor's lowered its issue-level rating on FLRC's senior notes to 'D' from 'CCC'.

The ratings downgrade follows the successful tender for $127.9 million of principal amount, or 47% of FLRC's $270 million mortgage notes outstanding. The notes were purchased at a discount to par of $780 per $1,000 principal amount, plus a tender premium of $20.

While a payment default did not occur relative to the legal provisions of the notes, Standard & Poor's considers a default to have occurred when a payment related to an obligation is not made in accordance with the original terms (even with investor agreement) and the nonpayment is a function of the borrower being under financial distress.

Standard & Poor's will assess the company's new capital structure, and expects to revise ratings to levels that are reflective of it within the next few weeks (likely around the time that the company files its first-quarter earnings statements)

"Our review will consider management's operating strategies and expected operating performance, and the potential for additional support from the owner," noted Standard & Poor's credit analyst Ariel Silverberg.
Media Contact:
Mimi Barker, New York (1) 212-438-5054, mimi_barker@standardandpoors.com

Analyst Contacts:
Ariel Silverberg, New York (1) 212-438-1807
Michael Listner, New York (1) 212-438-2788
Posted by Alex at 9:13 AM 0 comments
Labels:
Subscribe to: Posts (Atom)