2011 Media Kit.

Transcription

1 2011 Media Kit

2 Contact: Amy Upton, Marketing Manager for Garfield Traub Company Fact Sheet Focus Garfield Traub is the leading development services firm focused exclusively on essential U.S. public and public/private developments, including those in education, government, healthcare, hospitality, parking, sports and entertainment. Service Garfield Traub oversees all aspects of development services - from start to finish - of a public facility. The firm acts as the lead coordinator for project development needs, including financing, design, construction and asset management. The firm leverages its longstanding relationships with investors, lenders, architects, engineers, construction firms, facility operators and investment bankers to assemble the best development team for each project and ensure a collaborative process. Financing Delivery Leadership Experience Headquarters Garfield Traub provides turnkey delivery solutions for public and public/private partnerships (PPP or P3) and public developments. Financial solutions are structured in the most advantageous and lowest cost manner for the public client or partner consistent with the client s financial, legal and political constraints. Garfield Traub s public development projects are delivered under the most efficient alternative method to the traditional public procurement process, utilizing turnkey documentation that mitigates client contractual risk and administrative burden, assuring timely delivery of the highest-quality facilities within schedule and budget. Raymond Garfield Jr. principal Eric A. Tony Traub principal Greg Garfield principal Daniel Hennessy principal and general counsel Stephen Moffett president, hospitality division Stephen Swisher principal, Swisher Garfield Traub, affiliate focused on education developments For more than 35 years, Garfield Traub and its principals have developed more than 30 million square feet of all property types and financed more than $11 billion in debt and equity, nationally and abroad. The firm is exceptionally proud of its work developing: Overton Hotel and Conference Center for Lubbock, Texas City Court of Atlanta for the City of Atlanta, Georgia Reno Public Safety Training Complex for Washoe County (Reno), Nevada Durham Performing Arts Center (DPAC) for the City of Durham, North Carolina The Bundle of Eight Primary Centers for the Los Angeles Unified School District Two Galleria Tower Noel Road, Suite 2150 Dallas, Texas # # #

3 Contact: Amy Upton, Marketing Manager for Garfield Traub Executive Biographies Raymond Garfield Jr. Principal, Garfield Traub Development Garfield Traub Principal, Ray Garfield, has more than 35 years of experience in the development, finance and asset management of all property types. With an extensive Wall Street background, Mr. Garfield focuses primarily on working with investment banking partners and bond counsel to engineer financing structures and secure capital for developments. A proven track record demonstrates his ability to create insightful and innovative delivery vehicles for challenging assignments. Additional responsibilities include management of corporate relationships, participation in value engineering meetings, negotiation of project documents and agreements and leading problem solving of political, legal and financial issues for clients and their essential developments. Prior to establishing Garfield Traub, Mr. Garfield served as chairman and CEO of Vista Properties Inc, a publicly held national land development company with a portfolio of more than 9,000 acres of urban land. In addition to overseeing the development and sale of properties in Vista s portfolio, Mr. Garfield guided the company through a merger with Centex Corporation, the nation s largest homebuilder. As Senior Vice President and Managing Director of Cushman & Wakefield Inc, Mr. Garfield managed the Financial Services Division for the western half of the U.S. In this capacity Mr. Garfield directed the sales and financing of major properties throughout 21 offices from Texas to the Pacific. During his tenure his division was responsible for more than $2.5 billion of transactions for hotel properties and major commercial properties. As Vice President of Salomon Brothers, Mr. Garfield originated and closed more than $2.5 billion in capital transactions through his investment banking responsibilities for a host of major international clients including Wal-Mart Corporation, Weingarten Realty Inc., Trammell Crow Company, Lincoln Property Company and Pratt Hotels. Mr. Garfield and his real estate securities division pioneered the creation of the nation s first commercial mortgage backed securities. Mr. Garfield has a Bachelor of Science in math and engineering from the U.S. Naval Academy where he served as a naval aviator. He is a member of leading professional real estate organizations including the Urban Land Institute (ULI) and the International Council of Shopping Centers (ICSC), and has been a board member of two public companies, Vista Properties, Inc. and Harvard Industries. Also, he has been a featured speaker and panelist at real estate conferences throughout the county including The Americas Lodging Investment Summit (ALIS) and the International Economic Development Council (IEDC).

4 Eric A. Tony Traub Principal, Garfield Traub Development Garfield Traub Principal, Tony Traub, has more than 30 years of real estate development leadership experience, performing tasks from deal structuring and capitalization to design, construction and operations. Mr. Traub s responsibilities focus primarily on leadership of design-builder relationships and the design and construction process, including design, programming and value engineering input and oversight, as well as negotiation of project documents and agreements. Prior to establishing Garfield Traub, Mr. Traub served as president and CEO of American Nevada Corporation, Nevada s largest developer. There he led the development of hotels and recreational facilities, office buildings, medical facilities, retail centers and thousands of residential lots in some of the fastest growing communities in the country. Also, Mr. Traub served as president of Perini Corporation s development companies in California, where among other signature projects, he developed the Resort at Squaw Creek, a premier ski and golf conference resort, and Rincon Centre, a one million square foot mixed-use office/retail condominium project in downtown San Francisco. As president of the Resorts and Commercial Divisions of General Development Corporation, then Florida s largest developer, Traub s divisions developed countless commercial properties including conference resorts, country clubs, marinas and other recreational facilities. Mr. Traub received his business degree with high honors from the University of Michigan School of Business. He received his Juris Doctorate from the University of California at Los Angeles. In addition to being an attorney and certified accountant, he is a member of several professional organizations including the Urban Land Institute (ULI).

5 Greg Garfield Principal, Garfield Traub Greg Garfield, principal of Garfield Traub, has a deep knowledge base and experience in the financing, development, design, construction and operations of essential facilities of many property types for the public sector. His responsibilities include working with Garfield Traub s investment banking partners and attorneys to engineer ownership and financing structures for developments, in addition to negotiating project documents and agreements and leading problem solving of political, legal and financial issues for clients and their essential developments. Also, he collaborates with Garfield Traub s design and construction team to program, design valueengineer and price facilities, participates in the preparation of operating pro formas and performs financial and investment analysis and due diligence. In addition, Mr. Garfield has overall responsibility for the company s marketing efforts. His experience includes participation in the development of 22 properties and the negotiation and structuring of more than $500 million in debt and equity for public/private developments for Garfield Traub s clients. His negotiation and structuring expertise includes public/private partnerships utilizing conventional debt and equity, long-term fixed and variable rate bonds and certificates of participation for lease-purchase and installment sale financings and complex project financings, including tax-exempt revenue bond financings for headquarters hotels and other facility types. Prior to forming Garfield Traub, Mr. Garfield worked for McCall, McBride & Lancaster, Inc., a financial consulting and management advisory firm with clients ranging from major law firms to real estate developers. Mr. Garfield received a Bachelor of Arts with honors from the University of North Texas. He is a member of the International Economic Development Council (IEDC) and was a featured panelist at the 2009 Annual Meeting of the National Council for Public-Private Partnerships (NCPPP).

6 Steve Moffett President, Garfield Traub Hospitality Division As president of the Hospitality Division, Mr. Moffett has overall responsibility for all hotel development projects from initial selection of project pursuits through final delivery to clients. He has more than 30 years experience in real estate finance and development, corporate finance and public accounting. Moffett has spent the past 22 years exclusively in real estate. Prior to joining Garfield Traub, Mr. Moffett founded SDM Financial Inc., an independently owned real estate financial advisory firm specializing in the raising of private debt and equity in public/private capital structures. He negotiated and closed more than $200 million in private debt and equity for the company. While working with Stormont Hospitality Group, he helped to pioneer the public/private approach to the financing of convention and conference center headquarters hotels. Before founding SDM Financial, Mr. Moffett was the sole outside consultant to YTB Leasing (America) Inc., a Connecticut-based Japanese finance company and a Los Angeles-based real estate partnership. During these engagements Mr. Moffett sourced and restructured more than $300 million in real estate debt and equity, provided asset management services, and analyzed real estate projects for investment feasibility and compliance with newly enacted U.S. Immigration legislation. Mr. Moffett s initial real estate exposure came as a Chief Financial Officer and Partner with the Trammell Crow Residential Company. During his more than five years there, he financed the start up of a newly formed Senior Housing Division and negotiated and closed more than $100 million in equity joint ventures and debt financing with a variety of U.S. and Japanese lending institutions. Mr. Moffett is a certified public accountant in Texas and a member of the American Institute of Certified Public Accountants (AICPA), Texas Society of Certified Public Accountants (TSCPA) and the Board of Governors for the University of North Texas School of Hospitality Management. He has been a speaker for the Southern Methodist University MBA Real Estate program, the Neeley School of Business at Texas Christian University, the 2nd Annual Baker & McKenzie Pacific Rim Real Estate Investors Conference and the Crittenden National Real Estate Conference.

7 Stephen L. Swisher, AIA, LEED -AP Principal, Garfield Traub Stephen L. Swisher is a principal of Swisher Garfield Traub, a Garfield Traub affiliate that focuses on K- 12 and higher education developments. He has more than 30 years experience in the field of architectural design and leadership in the development of significant major public and private projects including educational, civic, commercial, retail, office, residential and mixed use projects. Mr. Swisher provides the leadership, vision and design insight needed to create effective project teams and develop consensus among stakeholders, architects, consultants and contractors. His broad project and development expertise combined with extensive local familiarity, contractor and entity relationships leads to successful project delivery outcomes. Prior to forming Swisher Garfield Traub, Mr. Swisher was the founder and president of Swisher & Hall, AIA, an award winning, 50-person regional architecture and planning design firm. Mr. Swisher provided design leadership and has won numerous design awards for commercial, condominium, retail, mixeduse, educational, civic and recreational facilities. He has been responsible for the design of over 8 million square feet of commercial, office, civic and educational spaces as well as 2,500 units of condominium, multi-family and private residences. Also, Mr. Swisher developed broad expertise in school facility and campus master planning, urban design, mixed use developments and the design of high performance (GREEN) environments that have called for analysis, concept development, consensus building, and programming and design leadership. Mr. Swisher received a Bachelor of Architecture from the University of New Mexico and is certified by the National Council of Architectural Registration Boards (NCARB). Also, he is a licensed architect in California, Nevada and Utah. A member of the American Institute of Architects (AIA), Mr. Swisher has been involved in many charitable and professional organizations. He currently serves as president of the Southwest Region of the Council of Educational Facility Planners International and is a member of the city of Las Vegas Redevelopment Advisory Committee. Also, Swisher is a member of the Northwest Association of Schools and Colleges and sits on the Trauma Intervention Programs Board of Directors. Mr. Swisher has donated the architectural design and planning for several Boys and Girls Clubs recreational facilities, Boys and Girls Hope facility, churches and the Andre Agassi Charter School.

8 Contact: Amy Upton, Marketing Manager for Garfield Traub Fact Sheet on Public/Private Partnerships About Public/private partnerships often known as PPP or P3 are real estate development projects with both public and private entities involved in the financing, ownership and/or facility operating structure. PPP projects may require alternative financing and delivery methods to the public procurement process and may be financed through private equity, traditional bank loans and public financial participation. Unique Characteristics Given the current economic landscape, more public participation is needed today in order to complete many hotel developments under the public/private financing option. A public/private partnership for a hotel is typically structured as follows: Team raises maximum available amount of private debt and equity City funds balance of project costs ( capitalization gap ) Appropriate allocation of property ownership and economic benefits between the public and private participants is determined Elements Garfield Traub recommends the following essential elements for a successful hotel public/private partnership: Limited and quantified capital contribution from the public partner Public partner is assured of first-class facility operations and upkeep Less controversial political risk for the public partner than a public financing execution Examples Garfield Traub has had responsibility for development services including investment, financing, design, construction, and/or asset management for numerous public/private partnerships, including: Overton Hotel and Conference Center for Lubbock, Texas Durham Performing Arts Center (DPAC) for the City of Durham, North Carolina Sheraton San Juan Convention Center Hotel for San Juan, Puerto Rico Overland Park Convention Center Headquarters Hotel for Overland Park, Kansas About GT Garfield Traub is the nation s leading development services firm focused exclusively on essential public facilities. Garfield Traub acts as the lead coordinator for all public and public/private project development needs, including financing, design, construction and asset management. For more than 35 years, Garfield Traub and its principals have financed more than $11 billion in debt and equity and developed more than 30 million square feet of all property types, nationally and abroad. For more information, please visit # # #

9 Contact: Amy Upton, Marketing Manager for Garfield Traub Project Highlights Below is a snapshot of some of Garfield Traub s public developments and public/private partnership projects where the firm served as the lead developer. HOSPITALITY Overton Hotel and Conference Center Lubbock, Texas This 303-room, full-service hotel and 47,000-square-foot conference center is part of Overton Park, the largest privately-funded redevelopment project in the United States, based on acreage. The hotel was financed with private debt and equity. The conference center was financed with City bonds to be repaid by site-specific occupancy taxes and property taxes. The capital plan also included naming rights, room licenses and nonprofit foundation grants. Amenities Include: Three-meal restaurant, bar and lounge, 11,250-square-foot ballroom, meeting rooms, swimming pool, fitness center, business center and sundry shop ENTERTAINMENT Durham Performing Arts Center (DPAC) Durham, North Carolina This 2,800-seat theater accommodates a range of arts and entertainment programs, including touring Broadway shows, with a high level of architectural quality, functionality and flexibility. The theater is a public/private partnership between the City of Durham, Duke University, the developer and the theater operator. Garfield Traub s innovative financial solution includes taxable Certificates of Participation (COPs) repaid by a portion of Citywide Hotel Occupancy Tax and facility naming rights, a Duke University contribution, an operator loan and several other sources. Facility Includes: 2,800-seat hall, atrium lobby, corporate box seats, concession areas, box office, state-of-the-art audio/visual and theater rigging, orchestra pit and three-bay loading dock GOVERNMENT New York DOT Region 1 Headquarters Schenectady, New York This 125,000-square-foot facility reflects the historic mercantile style architecture of the Schenectady downtown district. Of six competitors, only Garfield Traub was able to resolve how to fast track facility delivery while still taking advantage of tax-exempt financing that resulted in the lowest possible lease rate to the State. A voter referendum was not required. Under a pioneering tax-exempt lease-purchase financing structure, the State s annual occupancy cost was 30 percent less than that proposed by Garfield Traub s competitors, all of whom submitted proposals based on much more costly private financing. Garfield Traub delivered the facility on schedule and substantially under budget. The building achieved a Silver LEED rating and meets the state s energy efficiency and environmental quality standards. Facility Includes: Office and conference space, DOT training facility, radio command and weather room, loading dock, state vehicle parking, electric vehicle recharging stations, coffee shop, newsstand, credit union and bank

10 K- 12 Los Angeles Unified School District Primary Centers Los Angeles, California The highly successful Bundle of Eight schools developed by Garfield Traub in Los Angeles were managed concurrently in eight locations with eight distinct designs and eight separate architects, including interface with eight owner representatives, eight separate builder project staffs and more than 200 subcontractors. Developed under the Education Code Lease/Leaseback program, Garfield Traub s innovative financing plan provided the District with the most advantageous capital structure while enabling development team selection based on best value rather than lowest bid. Facilities Include: Seven primary schools and one recreation center HEALTHCARE St. Joseph s Regional Medical Center Paterson, New Jersey Garfield Traub, in partnership with New Jersey-based Impact Development, led the development of a 1,365-car garage and 20,000-square-feet of general retail space on the main campus of St. Joseph s Regional Medical Center. Garfield Traub s design and phasing solution maximizes the potential of the tight urban site while maintaining existing garage operations and providing vehicular and pedestrian access to the hospital s new lobby and main entrance. The financing solution allowed the hospital to own the facility through a foundation under the terms of a ground lease and had no impact on the hospital s credit and preserves its financial capacity for other campus projects. Bonds will be repaid by hospital staff and visitor parking fees and retail space lease income. The Passaic County Improvement Authority and the New Jersey Economic Development Authority provided financial backing of the project bonds through the designation of the immediate area as an area in need of rehabilitation. Facility Includes: 1,365-car garage, 20,000-square-foot retail space and future 176-room Hyatt Place JUSTICE City Court of Atlanta Atlanta, Georgia This 208,000-square-foot, six-story municipal courthouse in downtown Atlanta replaced a 46- year-old, 46,000-square-foot building that ran out of space seven years prior to this development. The new courthouse is projected to fulfill all the City s space requirements for 25 years. A low-cost, off-balance sheet, tax-exempt financing solution enabled the project to proceed without the need for a public referendum, resulting in the facility being delivered ahead of schedule and well under budget, at least four years ahead of when it would have been completed under the traditional procurement process. Facility Includes: Up to 15 courtrooms, administrative offices, conference space, secure judges parking, underground tunnel to detention center, secure access controls and separate circulation for inmates, judges and general public For more information on any of these projects, please visit # # #