AEG Facilities and SMG Complete Transaction to Create ASM Global

Bob Newman

Los Angeles, CA and  West Conshohocken, PA –-- AEG Facilities, LLC (“AEG Facilities”), the venue management affiliate of Anschutz Entertainment Group, Inc. (“AEG”), and SMG, a portfolio company of Onex (TSX: ONEX) and its affiliated funds, announced they completed their business combination to create a new, standalone global facility management and venue services company, ASM Global (“ASM”).

 ASM is headquartered in Los Angeles, CA, with key operations based in West Conshohocken, PA, a suburb of Philadelphia.

The company also has corporate offices in London, England; Manchester, England; Brisbane, Australia; and Sao Paulo, Brazil.

ASM operates a diversified portfolio of arenas, stadiums, convention and exhibition centers, performing arts centers, theaters and other venues with more than 300 facilities across five continents.

Wes Westley

 Bob Newman, former President of AEG Facilities, has been named President and CEO of ASM, effective immediately. Prior to joining AEG Facilities, Mr. Newman spent more than 20 years at SMG, last serving as a regional Vice President for the company.

Wes Westley, former CEO and President of SMG, will focus his efforts on key strategic growth initiatives and ensuring a seamless integration.

  “This marks the beginning of an exciting new chapter in our industry and one that will establish a new standard of excellence in managing live experiences," Newman said.

"Bringing together the combined global expertise of each company with the best content and cutting-edge technologies, we will be able to realize the full potential of the world’s greatest spaces, places and events, create amazing experiences for guests, offer exciting new opportunities to employees and deliver the highest value for all stakeholders.

"Equally important, our deep bench of talent and shared resources will enable ASM to accelerate innovation and capitalize on the growing market opportunities.”

Mark Gatley 

 Westley added, "I am very proud to have had the opportunity to lead such an incredible organization as SMG. We have a long history of working closely with our public and private partners and are confident in our ability to continue to meet and exceed their expectations.

"ASM’s focus moving forward will be on providing added value and best-in-class services to its customers. We are well-prepared for a seamless integration process.”

 Onex, AEG and their respective affiliates are contributing their entire equity investments in SMG and AEG Facilities, respectively, into the combined business and are now equal co-owners of ASM.

 “Initially, this will have no effect on our current operations or the expansion process,” said General Manager Mark Gatley of the SMG-managed Greater Fort Lauderdale / Broward County Convention Center, which is slated for a 525,000-sq.-ft. expansion and the addition of a 29-story, 800-room headquarters hotel.

“The merger will only enhance our ability to assist the leadership of Broward County in achieving the very best result.”

Contacts:

Michael Roth

VP, Communications

mroth@aegworldwide.com

+1 213.742.7155 (office)

+1 310.308.7684 (mobile)

 www.asmglobal.com

Julia Sznewajs

Res Publica Group

js@respublicagroup.com

+1 312.755.3574 (office)

The Preiss Company Completes Sale of Three Student Housing Communities in Raleigh, NC

Donna Preiss

RALEIGH, NC, Oct. 2, 2019—Officials at The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, today announced the completed sale of the 288-bed University Village at 2505, 162-bed Campus West at Tryon and 440-bed The College Inn in a portfolio transaction. 

“With the completed sale of these three assets, the company has exceeded $1 billion in transactions during 2019,” said Susan Folckemer, chief acquisitions & development officer, TPCO. 
 “We remain very bullish on the Raleigh market, as evidenced by our recent acquisition of Signature 1505, a 525-bed student housing project located along Hillsborough Street and continue to look for growth opportunities in this market.”

Susan Folckemer

University Village at 2505

            Developed by Preiss in 2012, the student housing complex is located at 2505 Red Lodge Place and is proximate to downtown Raleigh, NC State University and Crossroads in Cary.  
         The upscale, gated community offers four-bedroom, fully furnished, all-inclusive, pet-friendly apartments.  Amenities include an upscale clubhouse with 24/7 fitness center, resort-style pool, grilling area, full-service computer lab, free Starbucks coffee bar, study room and beach volleyball court.

Campus West at Tryon

Developed by Preiss in 2014, Campus West at Tryon is located at 5521 Avent Ferry Road on more than 5 and a half acres, approximately 1.5 miles from the North Carolina State University Centennial Campus.  Rooms feature state-of-the-art finishes, including granite countertops, stainless steel appliances and private bedrooms and bathrooms. 

North Carolina State University campus

The College Inn

            Constructed in 2004, The College Inn is located across from NC State’s campus at 2717 Western Blvd.  The student housing community provides roommate matching in fully furnished apartments with all utilities included.  The fully gated community offer upgraded units and resident programs including Waffle Wednesday every Wednesday.  

Amenities include a fitness center, pool with sundeck, community grill and patio, media and game room, tanning bed and internet cafe.  Two-, three- and four-bedroom apartments are available with the option of a private bathroom.

The College Inn Apartments, Raleigh, NC

            “We plan to reinvest the proceeds from this sale back into our student housing portfolio almost immediately, focusing on additional acquisitions at UNC and Georgia Tech,” said Donna Preiss, founder and CEO, TPCO.  

           “We maintain a deep bench of various housing options for discerning students in the local North Carolina State market.  
            "The recent transaction refocuses our goal of expanding our portfolio of affordable, luxury student housing facilities across the country through data-driven market research and in-depth analysis of current and future students’ needs.”

CONTACTS:

PATRICK DALY

OFFICE MANAGER

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-300-8289

patrick@dalygray.com | www.dalygray.com

Amy Barger, 
Vice President of Public Relations

The Preiss Company

(919) 532-1114

amy.barger@tpco.com

 www.tpco.com

                                      

HPM Bolsters Preconstruction Team in Birmingham, AL With Trio of New Hires

Del Buck

BIRMINGHAM, AL (Oct. 2, 2019) – Hoar Program Management (HPM) today announced a series of new hires in the company’s Program Development Group that increases expertise in preconstruction and enhances its capabilities as one of the industry’s only third-party program management providers.

Leading the charge will be industry veteran Del Buck, who joins HPM as the company’s Vice President of Preconstruction.

 In his new role, Buck will be responsible for overseeing project estimates and budget development for all of HPM’s program management assignments, and will also help streamline HPM’s processes for preconstruction services as the firm and other industry players continue to adapt to rising construction costs being fueled by the ongoing labor shortage.

With over 30 years of general contracting and executive experience across six continents, Buck brings proven leadership, creative problem-solving skills and valuable hands-on field experience that will allow HPM to provide competitive cost certainty as the firm continues its push into major program management markets.

Mike Lanier

Buck’s track record includes overseeing an annual project bid volume of more than $3 billion for preconstruction assignments in a variety of real estate sectors, including retail, industrial, multifamily, higher education, K-12, medical and government. 

He also provided administrative and technical oversight for multiple contracts with the U.S. Department of State for the construction of several new embassy compounds in Africa.

Buck most recently served as Vice President of Preconstruction and Estimating at Caddell Construction, and is leveraging his past experience in detention for a new program management assignment HPM recently landed with the Alabama Department of Corrections.

Michael Eskew 

“Del is making an instant impact at our company, and has the ideal background to help lead us into the next chapter of our growth story,” said Mike Lanier, President of HPM. 

“We all know how difficult of an environment we’re in right now due to the labor shortage and rising costs of materials, but we believe Del’s ability to see through the GC lens combined with the advanced estimating technology and pricing databases at HPM will give us a competitive edge that cannot be replicated elsewhere. 

"He will help us fill a distinct market void for construction professionals who can guide owners through the entire building process and add value through cost certainty and a more predictable schedule.”

“I am honored and excited to join the incredible group of professionals at HPM,” said Buck.

“The duties of my position match up remarkably well with the experience I gained throughout my career as a general contractor, and the ability to leverage that with HPM’s vast database of pricing technology will allow us to offer custom-produced services that are tailored for each owner’s budget and scheduling requirements.

Kyle Talley 

"Together, we will add desirable clients and projects to HPM’s already impressive portfolio.”

Buck will have full responsibility for monitoring schedule progress, budget adherence and owner relations for assignments across the firm’s portfolio. 

His construction experience ranges across the United States and internationally, including many African, South American, European and Middle Eastern states, as well as Nepal, China, South Korea and New Zealand. 

An Alabama native, Buck is also a graduate of both the American Institute of Estimating and the FMI Leadership Program.

HPM also announced the hirings of Michael Eskew as Mechanical Preconstruction Manager and Kyle Talley as Electrical Preconstruction Manager. 

The additions of Eskew and Talley further increase the level of in-house expertise provided by HPM, and allow the firm to provide a more cohesive and extensive menu of preconstruction service offerings.

Eskew is an Auburn University graduate, and has over 25 years of experience in mechanical engineering, project management, sales and preconstruction services in the construction industry. His move to the program management arena provides a new opportunity to apply his knowledge and practical experience.

Ryan Austin

Talley previously worked for a large electrical subcontractor for 18 years, working in the field on various construction projects. He has extensive experience as a chief electrical estimator, and has developed a reputation for balancing thoroughness, organization, and accuracy with the flexibility and time management required to meet client deadlines.

“Being able to land two specialists who have the level of experience and expertise that Michael and Kyle possess presented a rare opportunity, and we’re thrilled they’ve agreed to join our team,” said Ryan Austin, Chief Operations Officer at HPM.

 “Now more than ever, it’s imperative to find leaders who have a keen understanding of where to find cost savings and creative workarounds with subcontractors so we can present competitive solutions for owners and developers who are getting squeezed by construction price hikes. Preconstruction services will continue to be a top priority for HPM moving forward.”

 CONTACT:

Sophie Coffman · Fellow

1718 Peachtree St., Suite 1048 

Atlanta, GA. 30309

M: 404.824.5899

www.thewilbertgroup.com

www.hpmleadership.com