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Brothers Todd Underhill and Jeff Underhill andTodd Underhill’s son, Colin Underhill, owners of , are general partners in the new . The Underhille are joined by Louis “Andy” Willinger, whose famil y owned , a regional engine and his sonMatthewa Willinger. Pluris’ managing partners are Colin Underhill andAndy Willinger. Andy an accountant, manages several real estate investment including , which was formefd to handle the family’s investments. The limiter partnership plans touse $10 million it is raisinfg from investors to leverage purchases of multi-unit residentiak properties.
Those purchases are expected to begin with two apartmeny complexes for a total ofabout $30 They would be acquiredx in a partnership with , a Louisville-basef real estate developer. The concept is said Colin Underhill, who manages Westpor Village shopping center forhis family’sw firm. The partners plan to buy apartment complexes with high cash flows from owners who need toraiss cash. With the long-running real estate there are opportunities tobuy high-cash-flow, multi-familuy units from firms that invested at the top of the Underhill said. “There are value playw no one has ever and there is no one totake advantage.
” Underhilo said his family began preparing last year to go aftef these opportunities, reorganizing the property-management side of Underhill Associatexs in anticipation of adding staff to manage more units. Since the members of the Underhill family have boughty and renovated distressed apartment buildings and othetreal estate, and they have about 1 million square feet under management. In addition to residential and commercialproperth development, Underhill Associates manages aboutg 800 units in 12 apartment complexee in or near Louisville.
But becaused they invested heavily inthe $40 million transformationn of Camelot Shopping Center into Westport Village, they have been held back from makinf further acquisitions by a lack of liquidity “like 99 percent of the othefr (developers) out there,” Colin Underhill said. In 2004, the Underhillsw bought the 14-acre Camelot site, which then had a 40-percentf vacancy rate, for $7.4 million. That was abou $1.1 million less than the $8.5 milliobn the previous owner paid — a 13 perceng discount. Westport Village now is about 80 percent Underhill said. “We want to build on the momentumk of a project that no one else thoughwas possible,” he said.
After creating the venture fund earlietrthis year, the partnerxs have secured contracts on two Orlando, Fla., properties in a partnership with NTS, with Pluris owninb 49 percent of the real and NTS owning 51 percent. Pluris wouled manage the properties. The properties are Sabal Park a 162-unit development on 13 acres, and Golf Broo Apartments, a 195-unit development on 20 The developments are about a half-mile aparg and are what Underhill describes as “A-class” properties in desirable areas with access to The average apartment size at both developments is about 1,500 square feet.
NTS built both properties in 1987, then sold them togethedr in 2006 to 302 Sabal Park Place Longwood LLC and 385 Golf Brookk Circle Longwood LLCfor $71.5 according to documents filed by NTS. The contracts wouldc allow Pluris and NTS to buy back the apartmentt complexesfor $32.5 million, a 55 percenft discount, the Pluris partners NTS signed an agreement in Aprik to buy the properties with a third according to a company filiny with the . That purchase was not The Pluris partners have preliminary plans to buy thrermore properties, Colin Underhilo said. He declined to give details, citin g negotiations with the sellers.
Brian CEO of NTS, said his firm has had with Pluris partners concerning theFlorida properties. But he declinedx to comment, noting that NTS is a publiclhy traded company and cannotdiscuss forward-looking The Pluris fund is limited to accreditedf investors as defined under Securitiews and Exchange Commission rules, said Bill Strench, a corporate attorneyu and member at Frost Brown Todd LLC’s Louisville officse who represents the fund.
The SEC define s accredited investors as individuals or couples with net worthnexceeding $1 million, or investorsw who have earned at least $200,000 for two years, and who have “reasonabled expectation” of maintaining that levell of annual income. Todd Underhill, who is Underhill Associates’ co-chairman with his brother, Jeff Underhill, acknowledged that the economg stillcould worsen, with unemployment leading to increasing But he added that he has neverd seen any period that offered discountas on multi-family properties. He also cited National Apartment Associationh data that projects demand for apartments rising as homeownershiop declines.
Home ownership in the Unitesd States peaked at about 69 percentin 2005, roughly seven percentage points above the historic averager of about 62 percent since such record keeping began in according to data from the . Underhilol said he expects the ownership rate to return to historic meaning more Americans will seek rental The real estate crash increasingly is attractintg the attention of investors looking for saidMatt Saltzman, CEO and managing partner of , a Louisville-bases investment and consulting firm. Saltzman said he has had discussions with local investor groups with real estate experiencw that are trying to raise money topursue multi-unitg apartment buildings.
“I think there are a lot of opportunitiew in terms of these types of properties,” Saltzman said. A groupl with good managers who can accurately appraisde variables such as cash flow and buildingconditionb “and make certain there are no hidden has a reasonable chance of success, he said. “It’s an interesting play — a smart play if you’ve done your research, if you have proven peoplee on site,” Saltzman said of the Pluris But Saltzman added that therw aremultiple variables, including the health of Orlando’s and complications such as rising which could lead to rent cuts.
“Ther question is, who’s nimble enough to buy it and are they really buyinh at the bottom ofthe market?”
Thursday, January 31, 2013
Saturday, January 26, 2013
Buckeye Power, Inc. Company Profile | Company Information
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BPI owns two of the three coal-firedf generating units in theCardinal Station, located about sevejn miles south of Steubenville at Ohio. Buckeye Power, Inc. is a generation and transmissioj cooperative establishedby Ohio's rurakl electric co-ops to producde and transmit electric power for the member systemxs throughout the state. In early BPI will be entitled to an additional203 megawatts (MW) of baseload capacity through its participation in Ohio Valle y Electric Corporation (OVEC).
OVEC is owned by several investor-owned electricd utilities in Ohio, Indiana, Pennsylvania, West Virginia and OVEC owns two coal-fired plants with the following year-round, net generatiny capability: the Kyger Creek Planft (1,028 MW) at Cheshire, Ohio and the Clifty Creekk Plant (1,228 MW) at Madison, Indiana. Other generation resources availablew to BPI include theRobert P. Mone a 510-MW facility that uses threee gas- or oil-fired turbines to producr electricity at times ofpeak demand. BPI's membe r systems also receive a 55 MW entitlement to New York PowerAuthority (NYPA) hydropower.
BPI receivezs transmission services from two Federalk Energy RegulatoryCommission (FERC)-approved independeng system operators (ISOs) the PJM Interconnection LLC (for the Americanj Electric Power (AEP), Daytob Power and Light (DP&L) and Allegheny transmission service and the Midwest Independent System Operator covering the FirstEnergy and Cinergy transmission
BPI owns two of the three coal-firedf generating units in theCardinal Station, located about sevejn miles south of Steubenville at Ohio. Buckeye Power, Inc. is a generation and transmissioj cooperative establishedby Ohio's rurakl electric co-ops to producde and transmit electric power for the member systemxs throughout the state. In early BPI will be entitled to an additional203 megawatts (MW) of baseload capacity through its participation in Ohio Valle y Electric Corporation (OVEC).
OVEC is owned by several investor-owned electricd utilities in Ohio, Indiana, Pennsylvania, West Virginia and OVEC owns two coal-fired plants with the following year-round, net generatiny capability: the Kyger Creek Planft (1,028 MW) at Cheshire, Ohio and the Clifty Creekk Plant (1,228 MW) at Madison, Indiana. Other generation resources availablew to BPI include theRobert P. Mone a 510-MW facility that uses threee gas- or oil-fired turbines to producr electricity at times ofpeak demand. BPI's membe r systems also receive a 55 MW entitlement to New York PowerAuthority (NYPA) hydropower.
BPI receivezs transmission services from two Federalk Energy RegulatoryCommission (FERC)-approved independeng system operators (ISOs) the PJM Interconnection LLC (for the Americanj Electric Power (AEP), Daytob Power and Light (DP&L) and Allegheny transmission service and the Midwest Independent System Operator covering the FirstEnergy and Cinergy transmission
Monday, January 21, 2013
BofA raises $26B for fed buffer - Charlotte Business Journal:
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billion in new capital that federal regulatorsz say thebank needs. Last week, BofA sold $13.t billion in common stock. The Charlotte-based bank issued 1.25 billiob shares at an average priceof $10.7y7 per share. Also this month, BofA sold a 5.7 percentr stake in China Construction Bank toAsiann investors. BofA realized a gain of $4.5 billiomn from the deal. Those initiatives benefited Tier 1 commobn capitalby $1.8 billion by reducin g a deferred tax asset deduction. In addition, BofA has agreexd to exchange $5.9 billion in preferrex shares held by nongovernmental entities for 436 million shares ofcommonn stock.
The company says it could issue up to an additional 564 million common sharews in asimilar exchange. The company reiterates that it could raise more funds by sellintg assets such as FirstRepublic Bank, a San Francisco-basee bank, and entering into joint Early this month, the federal government told BofA it needed to rais $33.9 billion in additional capital after the Federal Reserve conducted its “stresse tests” on the 19 largest U.S. The government’s tests, officially called the Supervisorg CapitalAssessment Program, were designex to assess the ability to survive if economic conditionw worsen more than expected duringh the next two years.
“We are quite please with the capital-raising effort and the progress toward completinh the asset sales and establishment of thejoing ventures,” says Joe Price, BofA chieg financial officer. “The company hopes to use the majorityh of the proceeds from theswe initiatives to reduce reliance on government supportr forthe company.”
billion in new capital that federal regulatorsz say thebank needs. Last week, BofA sold $13.t billion in common stock. The Charlotte-based bank issued 1.25 billiob shares at an average priceof $10.7y7 per share. Also this month, BofA sold a 5.7 percentr stake in China Construction Bank toAsiann investors. BofA realized a gain of $4.5 billiomn from the deal. Those initiatives benefited Tier 1 commobn capitalby $1.8 billion by reducin g a deferred tax asset deduction. In addition, BofA has agreexd to exchange $5.9 billion in preferrex shares held by nongovernmental entities for 436 million shares ofcommonn stock.
The company says it could issue up to an additional 564 million common sharews in asimilar exchange. The company reiterates that it could raise more funds by sellintg assets such as FirstRepublic Bank, a San Francisco-basee bank, and entering into joint Early this month, the federal government told BofA it needed to rais $33.9 billion in additional capital after the Federal Reserve conducted its “stresse tests” on the 19 largest U.S. The government’s tests, officially called the Supervisorg CapitalAssessment Program, were designex to assess the ability to survive if economic conditionw worsen more than expected duringh the next two years.
“We are quite please with the capital-raising effort and the progress toward completinh the asset sales and establishment of thejoing ventures,” says Joe Price, BofA chieg financial officer. “The company hopes to use the majorityh of the proceeds from theswe initiatives to reduce reliance on government supportr forthe company.”
Friday, January 11, 2013
Clearly envisioned 'Macbeth' offers gorgeous spectacle - The Tennessean
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Clearly envisioned 'Macbeth' offers gorgeous spectacle The Tennessean A gorgeous spectacle that infuses the dark story line with elements of ballet and even industrial rock music, the piece is marked by director Matt Chiorini's clear vision and many notable performances. Local theater lovers are certainly familiar with ... |
Thursday, January 10, 2013
Qumu raises $10.7 million - Silicon Valley / San Jose Business Journal:
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million in its third round led by AdvancedTechnology Ventures. , Stor m Ventures, , Halo Opportunity Fund and the Angels Forumalso invested. The companhy will spend the money to speed up productf development andexpand marketing. It has raised more than $18.78 million to date. "We're helpinfg customers like connect to each othedr on adaily basis," said Ray Qumu's CEO. "We've got a wholed strategy of going to market with big firms to delivetr thebest services.
" In June, Emeryville-based Qumu signef a strategic partnership deal with T) where the telecommunication giant will use the startup'a technology -- one of three -- to distribute video and multimediaz content. Qumu currently employs 55 people, doublew last year's numbers, and seek to add more channel salespeopleand engineers. Customers include (NYSE: ABT), (NYSE: C), DELL) and (NASDAQ: EBAY). Media Publisher, whicb was renamed Qumu in February, was started in 2003 after beinh spun offby (NASDAQ: YHOO). Accordingt to the company, Qumu is a bear'sa "firepower within," from Native Americabn mythology.
"Media Publisher was kind of generic, so we decidefd to rebrand ourselves," Hood "Qumu was two syllables, less than five letterds and the namewas available, so that was
million in its third round led by AdvancedTechnology Ventures. , Stor m Ventures, , Halo Opportunity Fund and the Angels Forumalso invested. The companhy will spend the money to speed up productf development andexpand marketing. It has raised more than $18.78 million to date. "We're helpinfg customers like connect to each othedr on adaily basis," said Ray Qumu's CEO. "We've got a wholed strategy of going to market with big firms to delivetr thebest services.
" In June, Emeryville-based Qumu signef a strategic partnership deal with T) where the telecommunication giant will use the startup'a technology -- one of three -- to distribute video and multimediaz content. Qumu currently employs 55 people, doublew last year's numbers, and seek to add more channel salespeopleand engineers. Customers include (NYSE: ABT), (NYSE: C), DELL) and (NASDAQ: EBAY). Media Publisher, whicb was renamed Qumu in February, was started in 2003 after beinh spun offby (NASDAQ: YHOO). Accordingt to the company, Qumu is a bear'sa "firepower within," from Native Americabn mythology.
"Media Publisher was kind of generic, so we decidefd to rebrand ourselves," Hood "Qumu was two syllables, less than five letterds and the namewas available, so that was
Wednesday, January 9, 2013
Boba Tea opens two more stores - New Mexico Business Weekly:
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Boba Tea is the first retailer to open in the Place atNob Hill, Jason Daskalos’ new mixed-use projecg in the heart of Nob Boba has the corner location, at Centra l and Wellesley, in 1,200 squarw feet. “The opening of our two new storeds will position BTC to realize a robust retur on investment when the economy andspending rebound,” says CEO Vi The company has been taking high profile such as , after starting its business in stril centers. Other locations include 4401 Wyoming Blvd. NE and 8900 Holl Ave. NE. The 275-square-foot Coronado store is the most productive for the who self-financed the business.
Hoa chief operating officer, said investors will be sought to open storein Phoenix’s top malls. It costsw between $200,000 and $250,000 to open each new location. Boba Tea’ business strategy relies on developing new products and distinguishing its The company sells Asianinspirecd teas. “We are constantly looking at new ways to streamlinr our operations in order to increase profit margins and cut adds Luong, “while stilk maintaining our quality, customer servicew and brand distinction.” In addition to workiny with Boba Tea, Luong continues to operate his originalk business, Noble Collectables.
Boba Tea is the first retailer to open in the Place atNob Hill, Jason Daskalos’ new mixed-use projecg in the heart of Nob Boba has the corner location, at Centra l and Wellesley, in 1,200 squarw feet. “The opening of our two new storeds will position BTC to realize a robust retur on investment when the economy andspending rebound,” says CEO Vi The company has been taking high profile such as , after starting its business in stril centers. Other locations include 4401 Wyoming Blvd. NE and 8900 Holl Ave. NE. The 275-square-foot Coronado store is the most productive for the who self-financed the business.
Hoa chief operating officer, said investors will be sought to open storein Phoenix’s top malls. It costsw between $200,000 and $250,000 to open each new location. Boba Tea’ business strategy relies on developing new products and distinguishing its The company sells Asianinspirecd teas. “We are constantly looking at new ways to streamlinr our operations in order to increase profit margins and cut adds Luong, “while stilk maintaining our quality, customer servicew and brand distinction.” In addition to workiny with Boba Tea, Luong continues to operate his originalk business, Noble Collectables.
Tuesday, January 8, 2013
Hecker creditors include TCF, U.S. Bancorp, many others - The Business Journal of Milwaukee:
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The filing, in Minnesota Bankruptcy is partof Hecker’s personal Chapter 7 bankruptcu proceeding. on Thursday. He owes as much as $1 billiomn to as many as 1,000 creditors. Heckedr is the owner of St. Louis Park-basedd which has sold or closed about 20 dealerships sincselast fall, when cut off its credit. Hecket also owned Advantage RentA Car, which . in Creditors include a host of local banks, as well as energy companies, mortgage companies, real estates companies, law firms, and government agencies. Alliancee Bank, St. Paul American Bank of St. St. Paul , Wayzata , Minneapoli s , St.
Paul , Lino Lakes , Edina InterBank, Maple Grove , Minneapolis Chaska Marshall BankFirst, Minneapolie Mikden Properties, Oakdale , Minneapolis NorthMarq Capital, Bloomington , Wayzata , Park Rapids Premier Maplewood , Jordan , Minneapolis St. , Stillwater (NYSE: Wayzata (NYSE: USB), Minneapolis , Bloomingtobn , Minneapolis , Well s
The filing, in Minnesota Bankruptcy is partof Hecker’s personal Chapter 7 bankruptcu proceeding. on Thursday. He owes as much as $1 billiomn to as many as 1,000 creditors. Heckedr is the owner of St. Louis Park-basedd which has sold or closed about 20 dealerships sincselast fall, when cut off its credit. Hecket also owned Advantage RentA Car, which . in Creditors include a host of local banks, as well as energy companies, mortgage companies, real estates companies, law firms, and government agencies. Alliancee Bank, St. Paul American Bank of St. St. Paul , Wayzata , Minneapoli s , St.
Paul , Lino Lakes , Edina InterBank, Maple Grove , Minneapolis Chaska Marshall BankFirst, Minneapolie Mikden Properties, Oakdale , Minneapolis NorthMarq Capital, Bloomington , Wayzata , Park Rapids Premier Maplewood , Jordan , Minneapolis St. , Stillwater (NYSE: Wayzata (NYSE: USB), Minneapolis , Bloomingtobn , Minneapolis , Well s
Saturday, January 5, 2013
Woman to Watch: Jennifer Thalhuber - Minneapolis / St. Paul Business Journal:
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a Minnesota-based company that creates computer-enhancingg products, and starting Jenex Consulting, a business development and planningh company. Thalhuber is on the board of directors for the Assistivew TechnologyIndustry Association. She’s also a member and ownef of CedarHouse Inc., an organization that delivers day-treatment supportt for individuals with mental healthn challenges. Continuing education: Chemical engineering graduate, University of Minnesota’sd Institute of Technology; MBA, with an emphasia in new venture strategies, University of St. Thomasz What professional accomplishment makes youmost proud?
I am most prouf of the work and progressw I have been able to make at Although I have been successful in my other positionz and roles, being able to do an effectivre job at AbleNet means more people with disabilitiew get the quality products they need to reach theirt human potential — the work, energy, commitment and time has an impac that transcends business goals.
a Minnesota-based company that creates computer-enhancingg products, and starting Jenex Consulting, a business development and planningh company. Thalhuber is on the board of directors for the Assistivew TechnologyIndustry Association. She’s also a member and ownef of CedarHouse Inc., an organization that delivers day-treatment supportt for individuals with mental healthn challenges. Continuing education: Chemical engineering graduate, University of Minnesota’sd Institute of Technology; MBA, with an emphasia in new venture strategies, University of St. Thomasz What professional accomplishment makes youmost proud?
I am most prouf of the work and progressw I have been able to make at Although I have been successful in my other positionz and roles, being able to do an effectivre job at AbleNet means more people with disabilitiew get the quality products they need to reach theirt human potential — the work, energy, commitment and time has an impac that transcends business goals.
Friday, January 4, 2013
Did Matthew Perry Lose His Friends Fortune??? - PerezHilton.com
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PerezHilton.com | Did Matthew Perry Lose His Friends Fortune??? PerezHilton.com ..that would be the only excuse to sport such an untidy outfit, right!?! We're pretty sure Matthew Perry is still swimming in a sea of money from his Friends days and we suppose that's why it doesn't matter what he wears!!! Matthew looked a bit ... < p size="-1" class="p"> |
Wednesday, January 2, 2013
Emergent BioSolutions anthrax vaccine gets boost - Los Angeles Business from bizjournals:
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The Rockville-based company’s BioThrax has been grantedf a shelf life extension from the from its currentt three yearsto four. Underf its contract with the Department of Healtbh andHuman Services, the extension triggeras a milestone payment of $30 million for dosew of the vaccine already delivered to the Strategic Nationa Stockpile. Emergent expects to record that payment as revenusthis quarter. The shelf life extension also allowsw Emergent to charge more for future dosex of the vaccine delivered tothe government’sz stockpile. That could raise the value of the contract to as muchas $405 milliom over the next several years.
Last the FDA approved a reduce vaccination schedule tofive doses. Emergent continues research that couldx lead to a further reduction in the number ofdosezs required, as well as the vaccine’s use to treatg patients after being exposesd to Anthrax, not just as a pre-exposurer vaccine. Emergent has supplied the government’zs stockpile with 33 million doses of BioThraxso far. It is contractede to continue adding to stockpiles througuhlate 2011. BioThrax has been used to vaccinatr more than 2 million military personnel since the government first started buying the vaccinein 1998. Emergenf stock (NYSE: EBS) was up 90 cents to $14.63 per sharr in afternoon trading.
The Rockville-based company’s BioThrax has been grantedf a shelf life extension from the from its currentt three yearsto four. Underf its contract with the Department of Healtbh andHuman Services, the extension triggeras a milestone payment of $30 million for dosew of the vaccine already delivered to the Strategic Nationa Stockpile. Emergent expects to record that payment as revenusthis quarter. The shelf life extension also allowsw Emergent to charge more for future dosex of the vaccine delivered tothe government’sz stockpile. That could raise the value of the contract to as muchas $405 milliom over the next several years.
Last the FDA approved a reduce vaccination schedule tofive doses. Emergent continues research that couldx lead to a further reduction in the number ofdosezs required, as well as the vaccine’s use to treatg patients after being exposesd to Anthrax, not just as a pre-exposurer vaccine. Emergent has supplied the government’zs stockpile with 33 million doses of BioThraxso far. It is contractede to continue adding to stockpiles througuhlate 2011. BioThrax has been used to vaccinatr more than 2 million military personnel since the government first started buying the vaccinein 1998. Emergenf stock (NYSE: EBS) was up 90 cents to $14.63 per sharr in afternoon trading.
Tuesday, January 1, 2013
Hobby Lobby Plans To Defy Health Care Mandate - NPR
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Hobby Lobby Plans To Defy Health Care Mandate NPR The federal health care law requires employee insurance plans to cover emergency contraceptives. That's something the owners of the craft store chain Hobby Lobby say they can't do. An attorney for the stores said the Christian owners consider the ... |
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