HFF arranges $47.5 million refinancing of Sheraton Gateway Hotel Los Angeles

 SAN DIEGO, CA – HFF announced today that it has arranged a $47.5 million refinancing for The Sheraton Gateway Hotel Los Angeles (top left photo), an 802-room hotel adjacent to Los Angeles International Airport.

HFF worked on behalf of the borrower, SheLAX Hotel, LLC, to secure the refinancing through a German bank.  The Managing Member of SheLAX Hotel, LLC is an institutional investment fund sub advised by Long Wharf Real Estate Partners LLC.

 Long Wharf Real Estate Partners LLC is a Boston-based private equity real estate investment manager formed in July 2011 following the spin-out of the Fidelity Real Estate Group from Fidelity Investments.

The Sheraton Gateway Hotel Los Angeles is situated on 5.7 acres at 6101 West Century Boulevard approximately 1/8th of a mile from the entrance to LAX. 

Renovated between 2003-2007, the hotel features 48,000 square feet of function space, 38 meeting rooms, an 11,400-square-foot grand ballroom and two on-site restaurants, Paparazzi and Brasserie Restaurant. 

Additional amenities include a business center, fitness center, outdoor pool, Starbucks and complimentary shuttle service to and from LAX. 

The HFF team representing the borrower was led by senior managing director Tim Wright (bottom left photo)and associate director Zack Holderman. 

Contacts: 

Timothy Wright, HFF Senior Managing Director, (858) 552-7690  

twright@hfflp.com  

Kristen Murphy, HFF Associate Director, Marketing,  (713) 852-3500

krmurphy@hfflp.com

                  

HFF closes $12 million sale of DoubleTree Wilmington in downtown Wilmington, Delaware

TAMPA, FL – HFF announced today that it has closed the sale of the DoubleTree Wilmington (top left photo), a 217-room, full-service hotel in downtown Wilmington, Delaware. 

HFF marketed the property exclusively on behalf of the seller, Credit Union Liquidity Services. 

 A joint venture between  Driftwood Hospitality Management LLC and AGRE U.S. Real Estate Fund, L.P., a real estate investment fund managed and advised by an affiliate of Apollo Global Management, LLC, purchased the hotel for $12 million.

The DoubleTree Wilmington is located at 700 North King Street in Wilmington’s legal and financial district close to Interstate 95 and within walking distance to the Wilmington Amtrak Station.

 Renovated in 2006, hotel amenities include 20,000 square feet of meeting and banquet space, an indoor pool, fitness facility, business center, café and lounge. 

The DoubleTree Wilmington also features The Legal Center, a 3,200-square-foot facility with a conference room, private offices, a kitchen and several workstations with secure IT infrastructure for use by visiting counsels.

The HFF team representing the seller included senior managing director Dan Peek (top right photo) and directors John Bourret (lower left photo) and KC Patel (lower right photo).

Based in North Palm Beach, Florida, Driftwood Hospitality Management, LLC is a leader in providing solutions-based services for the domestic and international hotel industry. 

Boasting extensive management experience and relationships with most major hotel franchising companies, Driftwood covers the full spectrum of lodging business needs, from mid-size extended-stay to limited-service properties, boutique hotels and full-service resorts featuring spas, restaurants and convention centers. 

Currently, Driftwood’s focus is on strategic acquisition, development, third-party management and receivership.  Driftwood has additional offices in Costa Rica, Scottsdale, Arizona and Miami, Florida.  In the past three years alone, the company and its hotels have received more than 20 industry awards.

 For more information, visit www.DriftwoodHospitality.com.

Contacts:

Daniel Peek, HFF Senior Managing Director, (813) 870-1001, dpeek@hfflp.com

John Bourret, HFF Director, (214) 265-0880,

jbourret@hfflp.com                                                                                             

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,  

krmurphy@hfflp.com

Pennsylvania Shopping Center Sells for $10 Million

  

MARS, PA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has closed the sale of a 49,060-square foot grocery-anchored center (top left photo) in Mars. The sales price of $10,080,000 represents a price of $205 per square foot.

Steven J. Siegel (middle right photo), a vice president investments in the Manhattan office of Marcus & Millichap, exclusively represented the seller.

Erin Patton, a senior associate in the firm’s Columbus office, Scott Wiles, a senior associate in Cleveland, and Craig Fuller, a retail investment specialist also based in Cleveland, represented the buyer.

 Spencer Yablon (lower left photo), vice president and regional manager of Marcus & Millichap’s Philadelphia office, also provided representation.

“The new owner has acquired an excellent long-term investment,” says Siegel. “This shopping center will continue to thrive because of the wealthy demographic in the area, its proximity to major freeways and the vibrant mix of quality tenants,” says Siegel. 

Located at 300-920 Adams Ridge Rd., the Shoppes at Adams Ridge includes a 41,837-square foot building and two out parcels: a 3,723-square foot Dairy Queen and 3,500-square foot Citizens Bank.

Built in 2008, the center is anchored by McGinnis Sisters, a specialty grocery store, and shadow-anchored by Walgreens. The property draws demand from its mix of national and regional tenants, including Great Clips, Pizza Hut, Stonepepper’s Grill and Verizon Wireless.

 Traffic counts at the site are in excess of 20,000 cars per day on State Route 228 and the average household income in the area is $130,000.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Patriot Golf Day at Six Orlando Golf Courses Raises More Than $3,100 for Folds of Honor Foundation Scholarships

CELEBRATION, FL – Golfers at six Orlando area courses raised more than $3,100 for the Folds of Honor Foundation during Patriot Golf Day recently.

 Gene Garrote, president of Celebration Golf Management, Inc., said Folds of Honor Foundation provides post-secondary educational scholarships for children and spouses of military service men and women killed or disabled while serving in the U.S. Military.

Golfers at Celebration Golf Club at Celebration, The Golden Bear Club in Windermere, Kings Ridge Golf Club and Legends Golf and Country Club and in Clermont, Stoneybrook West in Winter Garden and Eagle Creek Golf Club in southeast Orlando contributed to the scholarship drive, Garrote said.

 “To date more than 2,000 scholarships have been awarded by the Folds of Honor Foundation,” Garrote said.

For media information,  contact:

Gene Garrote, President, Celebration Golf Management, 407-566-1045

Dorothy Benson, Sales/Marketing Manager, Celebration Golf Management, 407-566-1045 ext 4613; dbenson@celebrationgolf.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 lvershelco@aol.com

Mercantile Capital Corp. Announces Lowest Rate in History for Small Business Administration’s 504 Loan Program

ALTAMONTE SPRINGS, FL. --- Mercantile Capital Corporation, a wholly-owned subsidiary of Old Florida National Bank, recently announced that the 20-year effective interest rate for the U.S. Small Business Administration (SBA) 504 Loan Program has fallen to a new all-time low of 4.69 percent.

SBA 504 loans already offer below-market, long-term, fixed interest rates with as little as 10 percent down.

Now, small business owners have the opportunity to borrow money to grow their businesses at the lowest interest rates in history. Many believe the new record low interest rate will serve as an incentive that will spur small business owners to invest in their businesses by purchasing buildings and equipment.

  “There may never be a better time than now for small business owners to buy already discounted commercial property, while financing it with the lowest interest rates on record," said CEO of Mercantile Capital Corporation Chris Hurn.

 Mercantile Capital Corporation specializes in providing SBA 504 loans for small business owners nationwide who want to acquire or develop their own facilities.

 A former member of the Inc. 500 list, Mercantile Capital Corporation (MCC) has been called the “Fastest Growing Commercial Lender in America,” the “most unique and entrepreneurial bankers around,” and the “fun bankers.” From its start in late 2002, MCC has focused on providing SBA 504 loans for small business owners to acquire or enhance their own facilities.

 The company has been named a Small Business Financial Services Champion by the U.S. Small Business Administration twice in the past four years.

 For more information on MCC and 504 loans call (866) 622-4504 (toll free) or visit  www.504Experts.com  or  www.504Blog.com.

For more information about this press release,  contact:

Geof Longstaff, Chairman, Mercantile Capital Corp, 407-786-5040 GLongstaff@Mercantilecc.com

Chris Hurn, CEO, Mercantile Capital Corp, 407-786-5040 ChrisHurn@MercantileCC.com   

Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

Malaysian Group Proposes 2 Condo Towers For Downtown Miami

MIAMI, FL -- Malaysia-based Genting Group, one of the world’s largest casino operators, plans to develop two new, highrise condo towers with 1,000 units in Greater Downtown Miami, according to a new report from CondoVultures.com.

The condo towers – part of a proposed $3 billion mixed-use resort and entertainment complex on the current Miami Herald headquarters site fronting Biscayne Bay – could be completed as soon as 2014, according to the Miami Herald.

Plans for the proposed 10-million-square-foot project -- located on Biscayne Boulevard fronting the Adrienne Arsht Center for the Performing Arts (top right photo)-- call for a pair of condo skyscrapers and four hotel towers that share a massive pool deck on the eighth floor of the complex, according to a statement from the Genting Group.

“The initial plans – which still require governmental approval – for the proposed Resorts World Miami project are extremely ambitious,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 “For context, think of the design of Greater Downtown Miami's largest new project ICON Brickell (lower left photo) – three towers sharing a massive amenities deck – and double it for the Resorts World Miami project.

"On a unit-count basis, the ICON Brickell with nearly 1,800 units would be one-third of the size of the 1,000 condo units and 5,200-hotel rooms planned for Resorts World Miami.”

The proposed Resorts World Miami project - for which the land has already been acquired for at least $236 million - calls for a casino component combined with retail, restaurants, and convention center space. 

 

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.

David Wells of Marcus & Millichap Represents International Banking Institution in $7.1 Million All-Cash Acquisition of U.S. Commercial Real Estate

  

CHICAGO, IL, Sept.16, 2011 – David Wells (top right photo), a Senior Associate in the Miami office of Marcus & Millichap’s Real Estate Investment Services National Retail Group, the nation’s largest real estate investment services firm, has successfully represented one of the largest foreign banking institutions in the world in a $7.1 million all cash transactions of a Chase Bank located in downtown Chicago.

The purchase price equates to a 6.5% cap rate.

 Bruce Harris, Vice President of Investments, of the firm’s Chicago office exclusively represented the seller.

The acquisition is representative of a trend in foreign capital flooding the shores of the US in what is perceived as an opportune time for reinvestment in US real estate.

 “The demand from my foreign clients, predominantly institutions as well as private individuals, from South America has drastically increased over the past six months,” says Wells.

“We have spent a tremendous amount of time underwriting and analyzing assets for the past year with our foreign clients. Now they have just begun to take the next step and execute their foreign investment strategy as they have seen the US market stabilize.

 “They view the US market as poised for a turnaround and an excellent hedge against overheated foreign commercial real estate market conditions.”

 The asset acquired is a fee simple 8,500 square foot Chase Bank on the ground floor of a 35 story condo tower with vertical separation located in the heart of downtown Chicago on the corner of Dearborn and State Street.

 “Absolutely irreplaceable real estate with an S&P A rated credit tenant with significant term, options and increases in the lease,” says Wells.

 “Our firm’s national platform and impeccable track record of performance in assisting our client’s in achieving their investment goals has awarded us with the prestigious assignment of working with such high level foreign clients.

"We are actively working diligently with them to acquire an additional $100 - $200 million in US commercial real estate over the next twelve months.”

 .

For additional information contact David Wells: 305-498-6095

www.MarcusMillichap.com

Overall Year-Over-Year Foreclosure Activity in U.S. Decreases for 11th Consecutive Month, But Default Notices Jump 33 Percent from July

IRVINE, CA. – Sep. 15, 2011 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for August 2011, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 228,098 U.S. properties in August, a 7 percent increase from the previous month, but still down nearly 33 percent from August 2010.

The report also shows one in every 570 U.S. housing units with a foreclosure filing during the month.

Default notices (NOD, LIS) were filed for the first time on a total of 78,880 U.S. properties in August, a nine-month high and a 33 percent increase from July — the biggest month-over-month increase since August 2007.

Despite the monthly increase, default notices were still down 18 percent from August 2010 and were 44 percent below the monthly peak of 142,064 default notices in April 2009.

Default notices increased more than 40 percent on a month-over-month basis in several states, including New Jersey (42 percent), Indiana (46 percent) and California (55 percent), but were still down from a year ago in all of those states.

“The big increase in new foreclosure actions may be a signal that lenders are starting to push through some of the foreclosures delayed by robo-signing and other documentation problems,” said James Saccacio (top right photo), chief executive officer of RealtyTrac.

 “It also foreshadows more bank repossessions in the coming months as these new foreclosures make their way through the process.”

For a complete copy of the company’s news release and statistics, please contact:

Christine Stricker

949.502.8300, ext. 268

christine.stricker@realtytrac.com

Michelle Schneider

949.502.8300, ext. 139

michelle.schneider@realtytrac.com

TD Wood Brokers Loans Totaling $1.7 Million in Florida and South Carolina

Sarasota, FL—Sept. 15, 2011— Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of $1,700,000 for Keystone Courtyard (bottom right photo)  and Family Dollar.

Brad Cox (top right photo), CCIM, CPM, Company Vice President, secured financing for Keystone Courtyard in the amount of $1,000,000 through Thomas D. Wood and Company’s correspondent relationship with The Standard Life Insurance Company. 

The permanent fully-amortizing, full-recourse loan has a term of 20 years, based on an interest rate of 6.375%.  The loan-to-value is 60%.  The borrowers, who purchased the apartment building out of a foreclosure, remodeled it and rented it up, and wanted to refinance their current short-term debt with permanent financing. 

 The 28,000 square-foot multi-family complex was built in 1972 and remodeled in 2010, and is located at 3719 Ohio Avenue, Tampa, Florida.

Cox also secured financing for Family Dollar in the amount of $700,000 through The Standard Life Insurance Company.  The full-recourse loan has a term of 10 years, based on 25 years and an interest rate of 6.25%.  The loan-to-value is 62%. 

The borrower wanted to purchase a Family Dollar that was under construction and to find a lender willing to be flexible regarding the closing date.  The 8,320 square-foot single-tenant retail building was built in 2011, and is located at 1120 Red Bank Road, Goose Creek, South Carolina.

The company’s website may be accessed through www.tdwood.com.

For further information, please contact:

Brad Cox, CCIM, CPM    (941) 552-9731, bcox@tdwood.com

Jessica Kinnee, (407) 937-0470, jkinnee@tdwood.com

$15.1 Billion Boutique Hotel Comes to Market in Phoenix, AZ

PHOENIX, AZ– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for The Clarendon Hotel (top left photo), a 105-room boutique hotel located in Phoenix’s Museum District.

The listing price of $15.1 million represents $143,810 per room. The average daily room rate (ADR) is $91.50.

Michael Francis (middle left photo), a senior associate, and Melanie Wright (middle right photo), a hospitality investment specialist, both in the firm’s Salt Lake City office, are representing the seller, Clarendon Hotel Group LLC. David Guido (bottom right photo) of the firm’s Phoenix office is Marcus & Millichap’s broker of record in Arizona.

“The current owners took over the property in 2004, completely renovated it and increased the number of operational guest rooms from 35 to 105,” says Wright. “The Clarendon Hotel boasts high style and flexible indoor/outdoor event spaces that attract corporate guests, pleasure travelers and local groups.”

The property is located at 401 West Clarendon Ave. in midtown within walking distance of a light rail connection.

The Clarendon Hotel features a heated swimming pool with underwater speakers, massaging water jets and a colorful Sicis Italian tile mural with 24-karat gold and platinum accents. The bottom of the pool is illuminated after dark by almost 1,000 starlights. The pool area features bubbling fountains, a Jacuzzi and a glass water wall that is more than 60 feet wide and two stories tall.

Guestrooms amenities include heating/cooling system with plasma air filtration, 42-to-50-inch flat-screen TV, alarm clock/radio, iron and ironing board, stereo with iPod dock, coffee/tea maker, bathrobe, etc.

In 2010, The Clarendon Hotel was named the “Best Boutique Hotel in Phoenix” by the Phoenix New Times and “One of the Best Things About Phoenix” by the Arizona Republic in 2008.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

HFF arranges $25.6 million refinancing for Rancho Penasquitos Towne Center Phase I and II in San Diego, CA

SAN DIEGO, CA – HFF announced today that it has arranged $25.6 million in two separate financings for Rancho Penasquitos Towne Center Phase I and II (top left photo), a neighborhood and community shopping center totaling 179,000 square feet in San Diego, California.

HFF worked exclusively on behalf of Rancho Penasquitos Towne Center I, LP and Rancho Penasquitos Towne Center II, LP to arrange the 10-year, fixed-rate securitized financings through Deutsche Bank Mortgage Capital – CMBS. 

A $14.5 million loan was arranged for Phase I, and an $11.1 million loan was secured for Phase II.

 Rancho Penasquitos Towne Center (RPTC) is situated north of Highway 56 at Black Mountain Road in San Diego owned by a joint venture consisting of affiliates of UBS (85%) and Kimco Realty Corporation (15%).

 RPTC is anchored by a 40,000-square-foot Von’s grocery store and a 22,000-square-foot Rite Aid (both of which are not part of the collateral) and includes in-line retail space leased to JP Morgan Chase Bank, Starbucks, State Farm Insurance, Bank of America, Subway and GNC.  As of June 30, 2011, the property was 91 percent occupied.

The HFF team representing Rancho Penasquitos Towne Center I, LP and Rancho Penasquitos Towne Center II, LP was led by associate director Zach Koucos (middle right photo) and managing director Robert Delitsky (bottom left photo).

Contacts:  

Robert Delitsky, HFF Managing Director, (212) 632-1831, rdelitsky@hfflp.com                         

Zach Koucos, HFF Associate Director, (858) 812-2351, zkoucos@hfflp.com  

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, 

krmurphy@hfflp.com

Colliers International Closes $12.8 Million Multifamily Sale in the San Fernando Valley of California

LOS ANGELES, CA, Sept. 15,  2011.  – Kitty Wallace (middle right photo), Executive Vice President of Colliers International, the second largest global real estate services organization, closed the sale of the Villas at Sherman Place (top left photo) located at 23130 Sherman Place in West Hills, California.

This 39-unit luxurious Tuscan styled property was recently completed in late 2010 and just sold for $12,800,000.

 Wallace, based out of Colliers International’s West Los Angeles office, represented the Seller, Quality Properties Asset Management Company, an Illinois corporation. She also represented the Buyer, a publicly traded company based out of Los Angeles.

“The Villas at Sherman Place is one of the largest new townhome properties in West Hills” said  Wallace.

“The asset was delivered completely vacant offering the new owner the flexibility to lease the townhomes as apartments or to sell them individually to end-users.

“The versatility of this deal coupled with its location and quality of construction caused quite a buzz amongst our investors” notes Wallace.

 “We received 16 highly qualified offers after just one month of marketing and the Buyer won the deal after an aggressive bidding war. They purchased it for $328,200 per unit with a $1 million released deposit and a quick 25 day close.”

Wallace believes the new owner plans to sell the townhomes as condominiums.

. Follow us at www.twitter.com/colliersgla.

 Contact:

Angela S. Hwang

Regional Marketing Coordinator | Greater Los Angeles

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

Colliers International

865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA

www.colliers.com

The Golf Academy at Celebration Golf Club continues its support of the Fairways for Warriors program – Fits disabled veterans with New Ping Golf Clubs

                       From left: Nick Lawson, William Castillo and Chris Gordon

 ORLANDO, Fla. --- The Golf Academy at Celebration Golf Club, which is actively involved with the Fairways for Warriors program, recently fit two disabled war veterans with complimentary Ping golf clubs donated by the manufacturer.

Kenny Nairn, executive vice president of golf at Celebration Golf Management, said Ping donated five sets of clubs to the Fairways for Warriors program.

Nairn said Chris Gordon and William Castillo received the new clubs and will participate in The Golf Academy clinics for returning war veterans.

Fairways for Warriors is a nonprofit 501(c)(3) company focused on providing golf to wounded warriors.   Visit www.fairwaysforwarriors.org for additional information.

 For more information about this press release, contact

Kenny Nairn, Scottish PGA Golf Professional / EVP of Golf Celebration Golf Management 407-566-1045 ext. 4604; knairn@cgmgolfproperties.com

Gene Garrote, President, Celebration Golf Management, 407-566-1045

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142.

Grubb & Ellis and GearingStone Selected to Manage and Lease 300,000-SF Freezer Facility in Chicago’s I-55 Corridor

CHICAGO, IL (Sept. 15, 2011) – Grubb & Ellis (NYSE: GBE), one of the nation’s leading commercial real estate services firms today announced that the company was recently selected to provide property management and leasing for a state-of-the-art 300,000-square-foot freezer/cooler building in the I-55 Distribution Corridor.

 The assignment is the result of the company’s preferred provider relationship with GearingStone, LLC, a Dallas-based commercial special servicing company, which was awarded the asset management contract.

 A partnership between Gearing Capital Partners, Inc. and Minneapolis-based CarVal Investors acquired the asset in May. 

 “The dual contract is a prime example of the synergistic relationship between loan servicing and commercial real estate services firms,” said Alan Gearing, president of GearingStone.  “We are excited to be working on such a high-quality asset with such an experienced team.”

 Scot Farber, executive vice president, Investment Services, and Dallas-based regional manager of the company’s Financial Services Asset Management group, manages Grubb & Ellis’ relationship with GearingStone. 

 “We couldn’t be more pleased with how our partnership with GearingStone has evolved over the past nine months,” Farber said.  “We view it as a perfect example of how the Financial Services Asset Management group can bring all of Grubb & Ellis’ resources to bear for owners and lenders.”

Jim Cummings, associate vice president, Industrial, Jack Cozzie, senior vice president, Industrial, and Frank Melchert, senior associate, Industrial and a member of the company’s Food & Cold Storage practice group, who are based in Grubb & Ellis’ Rosemont office and specialize in properties located in the I-55 Distribution Corridor, will handle the leasing of the asset.

The team will be bringing more than 70,000 square feet of prime freezer and cooler space to market for lease execution.  The space is equipped with racking equipment that can accommodate over 8,000 pallet positions.

“The facility is unique in terms of its location situated in the premier food district in Chicago with wonderful access to I-55 which is the most sought-after thoroughfare,” said Cummings.  “The space is easily divisible for smaller users, if necessary, and the interior configuration provides 60-foot deep refrigerated staging bays for maximum efficiency, which is a huge competitive advantage for users in the marketplace.”

 The onsite management team will be lead by Jeff Perpich (lower right photo), senior vice president, Director of Management Services. 

 Contact: Janice McDill, Phone, 312.698.6707                                     

Email:  Janice.mcdill@grubb-ellis.com           

CalPERS Board Censures Board Member

SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) Board of Administration today publicly censured board member JJ Jelincic (top right photo) for his involvement in a personnel action based on complaints filed by coworkers at CalPERS.

CalPERS management reprimanded Jelincic last year. The reprimand was upheld last week by the State Personnel Board and administrative law judge Teri L. Block following an appeal by Jelincic.

Pursuant to its board governance principles, the CalPERS Board voted to publicly censure Jelincic and suspend his position as Chair of the pension fund’s Investment Policy Subcommittee and Vice Chair of its Health Benefits Committee until March 1, 2012.

The Board also voted to suspend Jelincic’s board travel privileges for the same time period except for pre-approved travel, travel to and from Board and committee meetings and constituent meetings, and is requiring Jelincic to attend sensitivity training.

 “The CalPERS Board does not condone harassment or similar conduct of any kind and all our Board Members are expected to meet this standard,” said Rob Feckner (middle left photo), President of the CalPERS Board. “Our employees are one of our greatest assets and we are committed to ensuring that their work environment is professional, safe and free from all forms of discrimination and harassment.”

Jelincic was elected to the CalPERS Board in December 2009 as a Member-At-Large representing all CalPERS members. He has been employed with CalPERS for 25 years as an investment officer.

CalPERS is the nation’s largest public pension fund with approximately $227 billion in market assets. It administers retirement benefits for 1.6 million active and retired State, public school, and local public agency employees and their families and health benefits for more than 1.3 million members.

 The average CalPERS pension is $2,220 per month.

For more information about CalPERS, visit www.calpers.ca.gov.

Contact:
External Affairs Branch
(916) 795-3991
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief,
Office of Public Affairspressroom@calpers.ca.gov