Thomas D. Wood and Co. Finds Financing for Eight Businesses in Florida

 MIAMI, FL, Jan. 25, 2012 --  Thomas D. Wood and Company, a Strategic Alliance Mortgage LLC member, secured financing in the amount of

• $16,190,000.  $970,000 for the 8th Avenue Shopping Center in Palmetto, Florida,
• $1,720,000 for the Mary Matha Shopping Center in Fort Pierce, Florida, $1,200,000 for the Dollar General in Apopka, Florida,
• $1,000,000 for the Dollar General in Orlando, Florida,
• $1,100,000 for the Shoppes of East Deltona in Deltona, Florida,
• $1,200,000 for the Shops of 7th Street in Miami, Florida,
• $4,000,000 for the Port 95-1 Ltd Industrial Building in Hollywood, Florida and $5,000,000 for the Merrill Industrial Center in Fort Lauderdale, Florida.

Brad Cox, CCIM, CPM, Company Vice President, secured financing for the 8th Avenue Shopping Center in the amount of $970,000 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 15 years, based on an interest rate of 5.75%, and a loan-to-value of 66%. The borrower wanted a fully amortizing loan that would take advantage of today's low interest rates.  The 12,100 square-foot retail complex was built in 2005 and is located at 1162-1190 8th Avenue West, Palmetto, Florida 34221.

 Cox also secured financing for the Mary Matha Shopping Center in the amount of $1,720,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing loan has a term of 15 years, based on an interest rate of 5.5% and a loan-to-value of 50%. The 36,364+ square-foot multi-tenant retail shopping center was built in 1979 and was remodeled in 2011. Mary Matha Shopping Center is located at 3205-3223 South US Highway 1, Fort Pierce, Florida 34982.

 Joe Dear, Company Vice President, secured financing for Dollar General Apopka in the amount of $1,200,000 through Thomas D. Wood and Company's correspondent relationship with The First Colony Bank. The permanent fully-amortizing, full-recourse loan has a term of 15 years, based on an interest rate of prime +1% and a loan-to-value of 70%. The borrower needed a construction loan for a build-to-suit single tenant facility. The 9,100 square-foot single-tenant retail building is in the process of being built and is located at 1712 Rock Springs Road, Apopka, Florida 32712.

Dear also secured financing for Dollar General Orlando in the amount of $1,000,000 through Thomas D. Wood and Company's correspondent relationship with The Ohio National Life Insurance Company. The permanent, fully-amortizing, non-recourse loan has a term of 15 years, based on an interest rate of 5.50% and a loan-to-value of 70%. The borrower wanted a long term, fixed rate loan secured by a recently completed Dollar General Store.  The 9,100 square-foot single-tenant retail building was built in 2011 and is located at 7965 Valencia College Lane, Orlando, Florida 32825.

Jeff Schnupp, Company Vice President, secured financing for the Shoppes of East Deltona in the amount of $1,100,000 through Thomas D. Wood and Company's correspondent relationship with The Standard Life Insurance Company. The permanent, fully-amortizing loan has a term of 15 years, based on an interest rate of 5.625% and a loan-to-value of 67%. The 8,450 square-foot multi-tenant retail strip center was built in 2009 and is located at 121 Howland Boulevard, Deltona, Florida 32738.

 Thomas D. Wood, Jr., Company President, secured financing for the Shops of 7th Street in the amount of $1,200,000 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 5.750% and a loan-to-value of 67%. The borrower wanted a fully amortizing loan that would take advantage of today's low interest rates.  The 14,700 square-foot retail strip center building was built in 1979 and is located at 2815 NW 7th Street, Miami, Florida 33125.

Marshall Smith, Company Executive Vice President, secured financing for Port 95-1 Ltd, through Thomas D. Wood and Company's correspondent relationship with Kansas City Life Insurance Company in the amount of $4,000,000. The fixed-rate loan has a term of 10 years, based on a 25-year amortization, with a loan-to-value of 75%. The borrower wanted to refinance the loan to take advantage of today's low interest rates before it matured in another year and a half. The 76,800 square-foot multi-tenant industrial complex was built in 1992, and is located at 3611-3655 SW 30th Avenue, Hollywood, Florida 33312.

 Steven H. Wood, Company Chief Operating Officer, secured financing for Merrill Industrial Center in the amount of $5,000,000 through Thomas D. Wood and Company's correspondent relationship with Symetra Life Insurance Company.  The 10 year, 25 year amortizing, non-recourse loan is based on an interest rate of 5.40% and a loan-to-value of 69.44%.  The borrowers refinanced a matured loan. The 134, 342 square-foot industrial complex sits on 8.46 acres of land and was originally built in 1969/1992. Merrill Industrial Center is located at 3400-3406 SW 26 Terrace, Fort Lauderdale, Florida 33312.

For further information, please contact:

 Ashlee Wood

Director of Marketing and Public Relations

(305) 447-7834

ashlee@tdwood.com

 Brad Cox, CCIM, CPM

Vice President

(941) 552-9731

bcox@tdwood.com

 Joe Dear

Vice President

(407) 937-0470 ext. 7

jdear@tdwood.com

 Jeff Schnupp

Vice President

(407) 937-0470 ext. 3

jschnupp@tdwood.com

 Thomas D. Wood Jr.

President

(305) 447-7823

tomjr@tdwood.com

 Marshall Smith

Executive Vice President

(305) 447-7825

msmith@tdwood.com

 Steven H. Wood

Chief Operating Officer

(305) 447-7836

swood@tdwood.com

  www.tdwood.com

Medical company opening Clearwater, FL operation with 150-plus jobs

 CLEARWATER, FL (Jan.25, 2012) – Matrix Medical Network, a provider of health assessments to members of Medicare Advantage health plans, is opening a marketing outreach center in Clearwater with plans for at least 150 employees. 

Headquartered in Scottsdale, Ariz., Matrix has leased 20,363± square feet in the 92,225-square-foot Bayview Pavilion office building in Clearwater.

 Alan Feldshue and Melanie Jackson of Colliers International Tampa Bay represented the landlord, Lightwave Drive, LLC. Matrix Medical Network was represented by Jarrett Dunaway of Mohr Partners out of Dallas.       

Retained by Medicare Advantage health plans, Matrix’s nurse practitioners visit plan members in their homes to create comprehensive and all-inclusive health records for the health plan and for the member’s primary care physician. The nurse practitioners also provide members with health information specific to their needs to help them better maintain their health, comfort and lifestyle in their home.

Matrix Medical Network plans to be taking applications for positions at the new facility starting in April. The job requires interpersonal and phone skills, since the outbound callers will be explaining the Matrix Medical Network process to primarily elderly health plan members. Employees at the new Clearwater office will be setting up appointments throughout the country for the nurse practitioner visits.

“As a company that operates throughout the country, we can locate our call centers virtually anywhere,” said Jose Rodriguez, Matrix Vice President of Business Operations. “We selected the Tampa Bay area because we believe the people with the skills and talents we need to be successful are here.”

The office space, located at 15550 Lightwave Drive in Clearwater, was attractive to Matrix because of its central location, covered parking, large windows and open floor plan, all conducive to a quality operations center atmosphere. Matrix’s lease increases the occupancy of the Bayview Pavilion building to 91 percent.

“Large Class A office space that’s well maintained and centrally located in the Tampa Bay area is very appealing to new companies entering the market,” said Alan Feldshue, Managing Director of Office Services for Colliers International Tampa Bay. “Matrix Medical Network’s lease is an example of that.”

To apply for a position, or to learn more about the opportunities, potential applicants should visit www.MatrixHealth.net or can call 877-564-3627.

Contact:          

Kyle Parks

Bayview Public Relations

(727) 895-5030, ext. 101 (office)

(813) 352-1325 (cell)

Kyle@BayviewPR.com

NAI Realvest Negotiates Renewal Lease of 12,897 SF of Industrial Space at Springview CommerCenter in DeBary, FL

 

 DeBary, FL – NAI Realvest recently negotiated a lease renewal for 12,897 square feet of industrial space at Springview CommerCenter in DeBary.

Michael Heidrich, principal in the Maitland-based firm, negotiated the transaction on behalf of the landlord, Springview CommerCenter LLC.    

The tenant, Avatar Relocation, Inc. of Longwood, renewed its lease of Suite 6 at 290 Springview Commerce Drive in the center located in the Springview Industrial Park off Shell Road.

For more information, please contact:

Michael Heidrich, Principal, NAI Realvest 407-875-9989, mheicrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989,  pmahoney@realvest.com

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

NAI Realvest Launches Energy Site Selection Team to Focus on Alternative Energy Market

 ORLANDO, Fla. – NAI Realvest, which ranks as one of Central Florida’s largest, fully integrated commercial real estate companies, has launched an Energy Site Selection Team to assist alternative energy producers with locating suitable sites for solar, waste-to-energy, and biomass production facilities.

 George Livingston, chairman at NAI Realvest, said alternative energy production is an increasingly important industry segment with exceptional growth potential.

 “The solar market is changing,” Livingston said.

 “While the U.S. Government subsidies have been removed, the cost of panels has declined dramatically and may continue to do so over the foreseeable future,” Livingston explained.

 As solar technology advances and solar panel costs decline, the industry will compete head to head with fossil fuel producers on a cost basis, Livingston explained.

 “Environmental concerns over coal and nuclear power will also increase demand for solar power, which is clean and renewable,” he said.

 Increasing fuel costs will drive the overall cost to produce electricity higher, which makes solar more attractive.

 “It is likely that ‘solar utilities’ will flourish in the coming years,” Livingston said.

 But the biggest advantage is a secret.

 “Solar power production requires a short time to permit, build and bring online, and life cycle maintenance is very low-cost,” Livingston said.

 A solar farm can be permitted, constructed and brought online in a year or less, Livingston said.

 For more information,  contact

George Livingston, Chairman, NAI Realvest 407-875-9989 glivingston@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

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

HFF named to market for sale 400 Duval Street in Key West, FL

MIAMI, FL – HFF announced today that it has been named to market for sale 400 Duval Street, a 32,199-square-foot, urban retail property in Key West, Florida.

HFF is marketing the property on behalf of the seller, a venture comprised of Longwharf Real Estate Partners and JBK Capital, LLC.  The property is listed for sale without a formal asking price free and clear of debt. 

400 Duval Street is situated in the heart of Key West on a 0.80-acre site at the hard corner of Duval and Eaton Streets.  The multi-tenant property is fully leased to national tenants including Chico’s, Claire’s Boutique, RadioShack, Subway, Fresh Produce and Earthbound Trading Company, and has enjoyed a long history of strong occupancy and long-term tenure.  Originally built in 1924, 400 Duval Street is the largest multi-tenant retail property with significant frontage along Duval Street.

The HFF investment sales team representing the seller is led by managing director Danny Finkle and director Luis Castillo.  Claude Gardner of Prudential Knight & Gardner Realty is co-marketing the listing with HFF.

 “400 Duval Street represents a unique opportunity to acquire a proven ‘high-street’ retail property with prominent national tenancy in one of the highest barrier to entry markets in the U.S.,” said Finkle.

“Key West’s global appeal and tourism draw combined with the strong tenant sales ranging from $570 to $720 per square foot at the property, and significant value creation potential, make this one of the most attractive offerings in the market today.

“ In-fill ‘high-street’ retail is an asset class that is currently in favor given its propensity to outperform the general market and this property should similarly benefit over the long term,”

Contacts:  

             

DANIEL FINKLE                      LUIS CASTILLO                            

HFF Managing Director           HFF Director                                        

(305) 448-1333                        (305) 448-1333                                   

dfinkle@hfflp.com                     lcastillo@hfflp.com                            

KRISTEN MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF hires Robert Rizzi as managing director in its New York office

NEW YORK, NY – HFF announced today that Robert Rizzi  has joined the firm as a managing director in its New York office.  Mr. Rizzi will focus on equity and joint venture capital as well as investment sales transactions in the New York metropolitan area.

Prior to joining HFF, Mr. Rizzi was a managing partner at Broad Street Advisors where he closed more than $4 billion in transactions since co-founding the firm in 2000. 

Mr. Rizzi has closed a broad array of product and transaction types, with both private and institutional clients such as American Realty Capital Partners, AREA Property Partners, Buchanan Street Partners, Clarion Partners, Deutsche Bank, GE Capital, Invesco Real Estate, Investcorp, Montecito Medical, Morgan Stanley, Orion Residential, PM Realty, RREEF Funds, Starwood Capital, and USAA Real Estate, among others. 

He began his career at Harbert Realty Services in Tampa as a regional markets manager in the firm’s Investment Services Group.  Mr. Rizzi has a Master of Business Administration degree and a Bachelor of Science degree in Accounting from The University of South Florida. 

“Rob has a diverse background executing a wide range of investment sales, debt and equity transactions not only in the New York metropolitan area but on a nationwide basis and we are looking forward to having him as a member of our team,” said Michael Tepedino (middle left photo), senior managing director in HFF’s New York office.

Contacts: 

                   

MICHAEL J. TEPEDINO                               

HFF Senior Managing Director               

(212) 245-2425                                         

 mtepedino@hfflp.com                              

                       

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

HFF closes $16 million sale of two multi-housing properties in Philadelphia

FLORHAM PARK, NJ – HFF announced today that it has closed the sale of Red Lion Apartments (top left photo) and Cheswick Apartments (top right photo), two multi-housing properties totaling 231 units in Philadelphia, Pennsylvania.

HFF marketed the offering on behalf of the seller, AIG Global Investment Group.  The Galman Group purchased the assets for $16.147 million. 

The properties are part of the second pool of assets HFF has marketed and sold for AIG Global Investment Group.  In July 2011, HFF closed the $241.5 million sale of a 2,185-unit multi-housing portfolio in central New Jersey. 

These assets are 94 percent leased overall.  Individual property details are below:

Red Lion Apartments, Philadelphia, PA                 120 Units

Cheswick Apartments, Philadelphia, PA                111 Units        

The HFF team representing AIG Global Investment Group included senior managing directors Jose Cruz (middle left photo) and Andrew Scandalios (lower right photo), directors Jeffrey Julien and Kevin O’Hearn and associate director Mike Oliver.

“These are very good core plus properties in stable markets,” said Cruz.  “The Galman Group will do very well with these properties over the long term.”

AIG Investments comprises a group of international companies, which provide investment advice and market asset management products and services to clients around the world. AIG Investments is a worldwide leader in asset management, with extensive capabilities in equity, fixed income, hedge funds, private equity and real estate.

The Galman Group owns and manages more than 6,000 apartment communities and condominiums in the Delaware Valley region.

Contacts: 

                   

JOSE R. CRUZ                                   ANDREW G. SCANDALIOS          

HFF Senior Managing Director         HFF Senior Managing Director      

 (973) 549-2000                                  (212) 245-2425                                   

jcruz@hfflp.com                                   ascandalios@hfflp.com  

                       

KRISTEN M. MURPHY

HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

NAI Realvest negotiates new Lease of 7,500 SF for Massey Services’ Orange City, FL Office

ORANGE CITY, Fla. – NAI Realvest recently negotiated a lease agreement for 7,500 square feet of office/warehouse space at 830 South Volusia Ave. in Orange City.  

Michael Heidrich (top right photo), principal at NAI Realvest, based in Maitland,  brokered the transaction on behalf of landlord John T. Mahoney of Winter Park.

The new tenant is Orlando-based Massey Services, Inc. who relocated its Orange City offices from another nearby industrial facility in the area.

For more information, please contact:

Michael Heidrich, Principal, NAI Realvest 407-875-9989 mheicrich@realvest.com

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com

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

Incentive Properties, Inc. opens offices in Altamonte Springs, FL

ALTAMONTE SPRINGS, FL --- Incentive Properties, Inc. has opened new offices at 445 Douglas Ave. Suite 2205-D  in Altamonte Springs.

 Joseph Schwartz (left) and Andy Katzman (right), partners and principals at Incentive Properties, said the firm helps investors acquire real estate properties.

 “Our focus is to help investors obtain a 15 percent return on their real estate properties,” Schwartz said.

The firm has been in business a little over a year and, according to Schwartz, has more than 30 working portfolios now and adding more and more on a daily basis.

 For more information, contact:

Winston Schwartz, President, Winston-James Development, Inc. 933 Beville Rd., South Daytona, FL  32119; PH: 386-760-2555

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

Value, Accountability are Keys to Success in Professional Consulting Practice WeinPlus’s Rachel Elias Wein Tells MArch Candidates

ST. PETERSBURG, FL --- Value and accountability are the most important keys to a successful professional practice, according to Rachel Elias Wein (top right photo), founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg.

Wein, who addressed students in the Masters in Architecture program at the University of Florida (middle left photo) recently, said the economic downturn has increased demand for these metrics in all segments of professional consulting.

“Value and accountability are objective measures and successful professionals demonstrate and document those measures to their clients in ways the clients can grasp enthusiastically,” Wein said.

“Professional consultants typically view a project in ways managers don’t,” Wein told the group.

“There is always a temptation for consultants to perpetuate a problem — as the problem exists the consultant still has work to do and fees to bill. That perspective has negative consequences for the individual and the profession. Clients won’t want to hire you and colleagues won’t want to work with you,” Wein said.

“You’re not here to sell your services,” Wein said. “You’re here to help your clients succeed.”

Wein, whose professional credentials include Masters Degrees in both architecture and real estate, said successful consultants today can document the value of their contribution toward a project.

“When I do project planning, I aim to generate a return of 10 to 15 times my fees for the client.    If that sort of return is not feasible — if I can’t generate 10 to 15 times the profits a client is paying for — we’ll stop,” she said.

For more information, contact

Rachel Elias Wein, AIA, Principal, WeinPlus, 727-386-9346, www.weinplusassociates.com

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

HFF secures $56 million refinancing for student housing community near San Diego State University

SAN DIEGO, CA – HFF announced today that it has secured a $56 million refinancing for Sterling Collwood (top centered photo), a 260-unit, Class AA student housing community near San Diego State University (SDSU) (top right photo) in San Diego, California.

Working exclusively on behalf of AIG Global Real Estate Investment Corp., HFF placed the seven- year, 4.57 percent fixed-rate loan with M&T (FNMA).  Loan proceeds are refinancing an existing construction loan.

Completed in 2010, Sterling Collwood has three residential buildings with studio, two- and four-bedroom furnished and unfurnished units averaging just over 1,400 square feet each. 

The property is the first “LEED-Gold certified asset” in San Diego and is one of the newest and only major developments built in the immediate college area in the past 20 years.

 Community amenities include a resort-style pool, fitness center, on-site bicycle storage and shuttle service to and from SDSU.  The 99 percent leased property is situated on nearly seven acres at 4249 and 4949 Collwood Boulevard less than one mile from campus. 

The HFF team representing the borrower was led by managing director Matthew Schoenfeldt (middle left photo) and associate directors Zach Koucos (lower right photo) and Zack Holderman (lower left photo)  

“Demand for off campus housing is about 15,000 units more than what the local area is currently providing, thus positioning Sterling Collwood for long-term success,” said Koucos.

AIG Global Real Estate Investment Corp. is a wholly owned subsidiary of AIG, Inc

Contacts:                    

MATTHEW SCHOENFELDT              ZACHARY KOUCOS                          

HFF Managing Director                       HFF Associate Director                

(312) 528-3650                                    (858) 812-2351                               

mschoenfeldt@hfflp.com                     zkoucos@hfflp.com                        

KRISTEN MURPHY

 HFF Associate Director, Marketing

(713) 852-3500

krmurphy@hfflp.com

Industry veteran Martin McDermott joins Avison Young in Los Angeles

LOS ANGELES, Jan. 24, 2012 /PRNewswire/ - Neil Resnick (lower left photo), Avison Young Principal and Managing Director of the company's West Los Angeles office, announced today that commercial real estate broker Martin McDermott (top right photo) has joined Avison Young'sbrokerage operations in Los Angeles.

Effective immediately, McDermott joins Avison Young as a Principal. Based in the company's West Los Angeles office, he will continue to focus on office and retail property transactions while also helping to further Avison Young's expansion in Los Angeles and Southern California.

"The addition of Martin McDermott to the West Los Angeles office of Avison Young adds a great new dimension and depth to our broker ranks. His background in identifying creative opportunities for his users is uncanny and has allowed him to gain a reputation of being an innovative problem-solver," comments Resnick.

McDermott brings diverse professional experience to his new role. Prior to joining Avison Young, he served as Vice-President of Transaction Services at Grubb & Ellis Company for nine years. In 2009 and 2011, he was ranked number one in sales in Grubb & Ellis' West Los Angeles office, and also gained a top-10 standing in 2007 and 2008.

Contact: Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098; cell: (604) 726-0959

Web Site: http://www.specialneedsgroup.com

Gaedeke Group Unleashing New Force at Darth Vader Building in West Palm Beach, FL

 Owner investing $500,000 to Develop  Force Fitness Center

WEST PALM BEACH, FL – The iconic Northbridge Centre, aka the Darth Vader Building (top left photo), will soon become a dynamic force for downtown tenants and the general public to fulfill their quests to stay fit.

Gaedeke Group LLC will invest more than $500,000 to build out and equip ground-floor space in the property's four-story pavilion as a new amenity for the marketplace.

The 5,700-sf Northbridge Fitness Center is part of the Dallas-based owner's 2012 strategy for its downtown landmark, which is located just steps from the Palm Beach County Judicial Center and boasts unobstructed upper-floor views of the Atlantic Ocean and Intracoastal Waterway.

 Also, the owner's initiatives include seeking LEED certification from the U.S. Green Building Council for the Energy Star-rated, 239,233-sf high rise and 49,000-sf pavilion at 515 N. Flagler Dr.

Kirk Fetter (top right photo), Gaedeke's vice president of leasing, admits it was tempting to brand the new amenity as "Force Fitness" in keeping with Darth Vader imagery. But, tradition prevailed:  it will be christened Northbridge Fitness Center.

The new fitness center will include full shower facilities, locker rooms and dedicated space for massage therapy, aerobics, Pilates and Yoga. Also, the plan calls for on-site fitness pros and state-of-the-art cardio equipment, free weights, treadmills, rowing machines and elliptical trainers.  Construction is slated to get under way in 30 to 45 days.

 "We think there's a need for a high-end facility in the downtown market," Fetter says.

Northbridge Centre's new amenity effectively primes the balance of the vacant pavilion's class A space for medical office uses, including sports- and fitness-related specialists who will be within a half-mile of Good Samaritan Hospital.

Northbridge Fitness Center will open in late spring. The facility will be card key-accessible seven days a week.

Skinned in black glass and black metal, the 21-story Northbridge Centre was dubbed the "Darth Vader Building" in 1983 because its north face silhouette closely resembles the imposing helmet of the fearless Star Wars character.

Some owners might wince at the connection, but not Gaedeke Group, which last spring decided to ensure the nickname would remain part of the building's allure with a tongue-in-cheek video.

 Watch it at www.youtube.com/user/gaedekegroup/videos.

Contact:  Kirk Fetter, 561-515-7407

CalPERS Board Re-Elects Rob Feckner President and George Diehr Vice President

 MONTEREY, CA – The California Public Employees’ Retirement System (CalPERS) Board of Administration  unanimously re-elected Rob Feckner (top right photo) as Board president and George Diehr (top left photo) as vice president for 2012 during the Pension Fund’s annual winter offsite Board meeting.

Terms for the president and vice president are one calendar year. Feckner is serving his eighth term as president and Diehr is serving his fifth term as vice president.

CalPERS also announced that its investment portfolio earned a small, but positive 1.1 percent return for the 12-month period ended December 31, 2011.

Feckner is elected to the CalPERS Board by the Pension Fund’s school members. He was first elected in 1998. In addition to being Board president, Feckner chairs the Board’s Governance committee, is vice chair of the Benefits and Program Administration committee, and is a member of the Investment, Health Benefits, and Ad Hoc Risk Management committees.

Diehr, who is elected by State employees, including employees of the California State University system, was first elected to the CalPERS Board in 2002. In addition to serving as vice president, he chairs the Investment and the Benefits and Program Administration Committees, and is vice chair of the Board’s Governance committee.

According to CalPERS investment staff, due to the high volatility of global equity markets in 2011 (caused in large part by the ongoing Euro debt crisis and the slowing of global economic growth) the Fund experienced a 7.9 percent loss in its public equity asset classes. CalPERS U.S. equity portfolio lost .03 percent, while its international equity assets declined 13.9 percent.

All other CalPERS asset classes had positive returns. CalPERS private equity and fixed income investments both earned a 12.4 percent return. Real estate investments returned nearly 10 percent, while inflation linked assets earned 8.4 percent.

CalPERS 1.1 percent return beat the Pension Fund’s policy benchmark – the return expected from CalPERS asset allocation mix – by 0.2 percent.

“We’ve been saying for a long time that we’re facing a challenging investing environment,” said Joseph Dear (middle right photo), CalPERS Chief Investment Officer. “The shock waves of the last year in particular created a crisis of confidence that’s still impacting all investors.

“At the same time, the volatility can provide us with real opportunities, and we have the size and liquidity to take advantage of those opportunities. I am confident that we have the right strategy in place to achieve our investment goals over the long term.”

Contact:

External Affairs Branch

(916) 795-3991

Robert Udall Glazier, Deputy Executive Officer

Brad Pacheco, Chief, Office of Public Affairs