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LOS ANGELES, Aug. 14 /PRNewswire/ — BentleyForbes (), a national real estate investment firm, today announced plans to move forward with an ambitious growth strategy outlined in a five-year program that will expand its portfolio of properties to $12 billion by 2014.
Currently, the private company owns a $3 billion portfolio of commercial properties that includes landmark Class A office, luxury hotel & resort, and single-tenant corporate properties in diverse markets across the United States.
“During the past 12 months, BentleyForbes has focused on asset management and property improvement within our existing portfolio, refining operating procedures, and attracting key personnel to prepare for the Company’s next phase of growth,” said Fred Wehba Sr. (), chairman and founder of BentleyForbes. “We are confident that BentleyForbes is now correctly positioned to move forward from a well capitalized, well prepared foundation on a strategic five-year plan that targets the significant expansion and growth of our portfolio of owned properties.”
Wehba, in conjunction with the BentleyForbes Executive Committee, which also includes Vice Chairman Fred Wehba Jr., President & CEO David Cobb, and Chief Operating Officer Bert Dezzutti, charted a four-point plan for growth during the next five-year period:
— Strategic Capital Partnerships (Institutional Fund or Private Equity
sources).
— Global Expansion (Enter International markets).
— New Acquisitions (Class A Office, Luxury Resort & Hotel, Single Tenant
Corporate).
— New Development/Redevelopment (Property Expansion, Renovation, New
Projects).

“BentleyForbes is in a unique position within today’s market environment,” said Cobb. “All of the Company’s growth to date has been through the successful management and redeployment of internally generated capital resources. Our current portfolio of properties is funded with stable, long-term debt and maintains healthy occupancy levels and cash flows. A key to our future growth is to align our internally generated capital with that of joint venture capital partners seeking to leverage the strength of our investment, operations, and management expertise.”
BentleyForbes has diversified itself in recent years as an owner of premier quality Class A office and luxury resort/hotel properties in select U.S. markets. Historically, the Company is also known as the leading private firm focused on the acquisition and management of single-tenant and sale-leaseback corporate real estate properties, an expertise and product type that still plays a role in its portfolio and operations today.
“BentleyForbes has developed a scaleable operations platform that is poised to support the Company’s next phase of growth,” said Dezzutti, who joined the Company as COO at the beginning of 2008. “Through investment in sophisticated and customized software systems, and the recruitment and retention of key personnel with documented real estate investment expertise, BentleyForbes is well positioned to manage and create value within a growing portfolio of premier real estate assets.”
Since the founding of BentleyForbes in 1993 by real estate industry leaders C. Frederick Wehba (Fred Wehba Sr.) and C. Frederick Wehba II (Fred Wehba Jr.), the Wehba family has overseen the wholly-owned company’s growth to a total of 102 employees working in six offices companywide, including its Los Angeles headquarters at Century City’s MGM Tower. These personnel include experts in real estate investment, management, accounting and law.
Trophy assets in the current BentleyForbes portfolio include: The Four Seasons Resort and Club Dallas, which sits on 400-acres and includes four swimming pools, a 176,000-square-foot sports club, two golf courses, 307 guest rooms, 124 villa rooms, and 60 branded Four Season for-sale condominiums now in development; Prudential Plaza, a 2.2 million-square-foot, two-tower, integrated office complex in Chicago; Bank of America Plaza, a 1.3 million-square-foot office tower in Atlanta; Las Olas Centre, a 469,000-square-foot office complex in Fort Lauderdale, Fla.; The Watergate Building, a 261,000-square-foot office and retail property in Washington, D.C.; and Three Dallas office properties: the 419,000-square-foot, three-building Preston Commons, the 303,000-square-foot Sterling Plaza, and the 236,000-square-foot Park Center.
About BentleyForbes:
Founded in 1993 by C. Frederick Wehba and members of his family, including C. Frederick Wehba II, privately-held BentleyForbes is a national real estate investment firm focused on the acquisition, ownership and management of trophy Class A office buildings, luxury resort and hotel properties and select high-quality industrial and retail facilities. Currently, the Company owns and operates a portfolio of assets valued in excess of $3 billion that comprises approximately 7.9 million square feet in total consideration located in diverse markets across the United States. Typical investments for the Company range from $30 million to $500 million and beyond, emphasizing multi-tenanted and single-tenanted Class A office properties in top CBD or regional submarket locations and best-of-class luxury resort and hotel properties in major MSA or resort destination markets. Furthermore, the Company is recognized for its expertise in the acquisition and management of single tenant and/or sale-leaseback property investments, and continues to invest in assets of this type on a select basis. From its Los Angeles headquarters, BentleyForbes employs a roster of real estate experts well versed in commercial real estate investment, finance, law, accounting and asset management. The Company also has regional offices in Atlanta, Chicago, Dallas, Ft. Lauderdale and Washington D.C. For more information, please logon to .
BentleyForbes

BLOOMFIELD HILLS, Mich., July 30 /PRNewswire-FirstCall/ — Ardent shoppers can score not only terrific buys but a fashionable LeSportsac travel kit at one of seven Taubman shopping centers across the United States. Beverly Center (Los Angeles), Cherry Creek Shopping Center (Denver), Dolphin Mall (Miami), Great Lakes Crossing (Auburn Hills, Mich.), International Plaza (Tampa), The Pier Shops at Caesars (Atlantic City) and Woodfield Mall (Schaumburg, Ill.) are participating in the latest promotion aimed at tourists who live more than 50 miles away from the shopping center. To receive their LeSportsac bag, guests who spend $500 in the same day simply take their receipts and proof of residence to the center’s customer service desk.
(Logo: )
LeSportsac revolutionized the accessories market in the 1970s when it introduced lightweight rip-stop nylon handbags and totes. Today the company is an industry leader known for its fun, durable and brightly-patterned items. Their travel kit is perfect for those making a Taubman shopping center part of their travel experience.
The travel kit (a $34 value) features a zippered main enclosure, plus two side zipper pockets — perfect for packing travel-size toiletries and other essentials. Because LeSportsac typically produces most patterns in limited editions, each center may stock different designs and the bags will be available while supplies last.
Taubman Centers, Inc. , a real estate investment trust, owns and/or manages 24 shopping centers in 11 states. For more information visit .
For ease of use, references in this press release to “Taubman Centers” or “Taubman” mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

Taubman Centers, Inc.

DENVER, July 7 /PRNewswire/ — EpicenterSpark Living Group, a provider of hospitality-based development, planning, marketing and operations services in the senior living industry, today announced the official partnership of Don Gorsuch and Scott Bunce. The extensive experience and knowledge of both principals will be focused on creating dynamic senior communities for either new project developments or existing retirement communities. Their approach is to develop hospitality-centered living environments that are gracious, engaging and life-enriching.
“Retirement is inherently about lifestyle,” says Gorsuch. “Seniors are not only looking for safe, comfortable residences, they want to live in fun, social communities that offer a fully array of convenience services, including wellness and life-long learning.”
Don and Scott recognized that their combined development, hospitality and management experience gave them the perfect skills to enhance senior living. “We take a fresh approach to creating vibrant living environments by coupling hospitality services with wellness and lifestyle programs. We help developers and existing retirement community owners create communities that empower people 55 to live robust lives, based upon their interests and experiences,” noted Gorsuch.
According to the U.S. Bureau of the Census, there is an expected growth rate of 100 percent in the 65 age group over the next 30 years. Further the “over 50″ population will more than double in the next 35 years. The result will be an explosive increase in the number of individuals who soon will be considering a variety of housing alternatives and ultimately the lifestyle that will accompany these housing options.
A majority of today’s seniors are well educated, focused on a quality lifestyle, seeking convenience and ultimately looking for a “living experience.” As a result, people 55 are leading a consumer revolution for products that are relevant to their desires. Bunce emphasized that “This is a rapidly evolving, highly competitive industry and our vision is to focus on innovation, continuously improving every product, service and process. Most importantly, we know that exceptional service to both our clients and their community residents must be delivered on a reliable and consistent basis.” Stressing the point, Gorsuch added, “We are dealing with peoples’ lives, so earning and maintaining their trust and confidence is paramount. This is our core strength and commitment. We utilize innovative management systems to consistently deliver exceptional hospitality services.”
Mr. Gorsuch has over twenty-two years experience in the development, construction, marketing and start-up of Continuing Care Retirement Communities (CCRC’s), Independent Living and Assisted Living Residences. He is one of the premier marketers of Senior Housing in the Rocky Mountain Region bringing his unique approach to outreach, lifestyle, resident satisfaction and employee focus to each community. His multi-state experience includes site evaluation, market analysis, entitlement, concept development, sales and marketing, community outreach, project positioning, operational strategies and homeowner association management. He has held executive leadership roles with MacKenzie House, Concordia on the Lake, The Legacy at Lowry, The Academy of Boulder and Carolina Meadows. His consulting contracts include Life Care Services, The Bridges at Castle Pines, Liberty Heights and Covenant Village of Colorado.
Mr. Bunce has nearly twenty-five years of management experience in all facets of resort, conference, hotel and condo-hotel management and has been recognized for performance excellence in nearly every discipline of the hospitality industry. His operations, sales, marketing and revenue management experience includes leading multi-unit resorts and hotels where he consistently exceeded profitability, quality, and revenue goals. In addition, he has managed multi-unit food and beverage operations, hotel openings and hotel conversions. Bunce has worked at the Senior Management and Vice President level with companies such as Radisson, ResortQuest, Hilton International, and Intrawest.
EpicenterSpark Living Group will not only serve as community operators and providers of marketing expertise, they will also provide development-planning services to the industry. Gorsuch noted that “Developers normally have a strong vision of what they want to build, but may not have the experience to understand the intricacies of ‘the complete package’ that they will ultimately need to deliver if they wish to be successful in such a competitive marketplace. We advise on every detail of senior housing from location, architecture and interior design to programming, sales, marketing and, finally, the lifestyle components. We can offer developers a seasoned talent pool of experienced professionals, each with their own distinctive skills and talents.”
Additional services offered will include:
— Evaluating potential building sites
— Coordinating market research, evaluating key assumptions
— Identifying and overcoming entitlement issues
— Recommending design strategies
— Project positioning - value, unit program, building amenities
— Marketing and Sales

– Presentations to regulatory agencies, stakeholders and community decision makers
— Community Outreach
— Lifestyle enrichment opportunities
— Identify operational strategies for 3rd party or self management
— Refresh existing communities, enabling them to be competitive

About EpicenterSpark Living Group

EpicenterSpark Living Group, (a sister company to EpicenterSpark Hospitality) is a full-service senior housing firm, specializing in development planning, marketing and management. They are committed to developing fresh and exciting communities where people thrive and enjoy life. To learn more about the vision of EpicenterSpark Living Group and the services provided, please contact Don Gorsuch at 303.960.0012 or visit their website at
Contact: Lynette Hegeman, 970-389-4113

epicenterspark.com

IRVINE, Calif., May 13 /PRNewswire/ — R.D. Olson Development has sold two of its Southern California hotels — one inspired by Hollywood, the other by Southland beach culture — to Apple REIT 8 for $80 million. Irvine-based R.D. Olson last year completed development of both hotels, the Marriott Residence Inn, Burbank at 321 S. First St. and Marriott Residence Inn, Oceanside at 3603 Ocean Ranch Blvd.
(Photo: )

With CEO/President Robert Olson at the helm, the company purchased the development sites in 2005 and 2006 respectively in a move that has paid off quickly. Both hotels opened under the Marriott International Marriott Residence Inn brand and each has earned a 95 percent customer satisfaction rating. Occupancy remains strong.
“We capitalized on what we considered to be good long-term investment properties, placed on them the perfect flags for that market and creatively elaborated on Marriott’s already-solid brand to fit within the culture of each community,” said Robert Olson.
Case in hand, as a tribute to the television capital of the world, Olson commissioned renowned British artist, Peter Fink to create a spectacular lightshow that scales the five-story Burbank Marriott Residence Inn’s exterior. The interior of the 166-suite hotel exudes Hollywood flavor, featuring artwork originally produced in Burbank from the 1950s to the 1990s.
“I envision the hotel as a future city landmark as the entertainment center continues to reinvent itself,” said Olson.
In a different vein, the 125-suite four-story Residence Inn by Marriott in Oceanside speaks to the laid back community that is home to surfers, beachcombers and even longtime surfer-girl starlet, Gidget. Original paintings by local artists that echo Southern California’s easy Southland lifestyle dress the walls and a community patio fire pit enveloped by couches give way to outdoor comfort.
R.D. Olson Construction, also owned by Robert Olson and recognized as a premiere hotel and restaurant contractor, built Marriott Residence Inn, Burbank and the Marriott Residence Inn, Oceanside.
Sale of the two hotels leaves R.D. Olson Development with seven other projects in the making including Palomar Hotel, Tustin, Calif. and Denver, CO; Residence by Marriott, Goleta, Calif.; and Hilton Garden Inn, Tustin.
The company will soon open another development in which it, once again, has culled from the local community to build upon an established brand. The Renaissance ClubSport in Aliso Viejo, a joint venture between R.D. Olson Development and Leisure Sports Inc., includes a boutique hotel, world-class fitness center and full-service day spa. Olson expects Renaissance ClubSport to open in mid-June.
Robert Olson founded R.D. Olson Development in 1998. It has since gained standing as a leading hotel developer. Projects developed and sold include an eight-story 174-suite Marriott Residence Inn, Irvine; a $62 million resort in the Anaheim Resort Zone, which consists of a seven-story Staybridge Suites and nine-story Holiday Inn; and an eight-story 526-bed University Village Towers, an upscale student housing project bordering the University of California, Riverside. R.D. Olson Development is located at 2955 Main St., Irvine, CA 92614.
Contact: Lisa Porter
Porter Public Relations
(949) 216-9970 - office
(714) 791-8980 - cell

R.D. Olson Development