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1)
NBC BANK PLAZA - project
manager for $80 million, 30-story building in downtown San
Antonio. Included managing and coordinating the design,
construction, marketing, and financial reporting for the
project as well as securing the construction loan and
permanent financing commitment.
2)
ARMAND TECHNOLOGY PARK - initially
prepared position paper regarding this 92-acre property for
Rice University Board of Trustees, then negotiated contract
to purchase the property from Rice. Spent considerable
time negotiating utility commitment capacity for the site
and clearing up a myriad of title issues. Worked with
architects in the master planning of the sites.
3)
WOODS ON CLEAR CREEK - project
manager for $5.5 million land development in League City,
Texas; responsible for the design, construction, marketing,
and financial reporting systems.
4)
INDUSTRIAL COMMERCIAL ENTERPRISES, LTD - prepared
position paper on the asbestos industry and directed the $1
million acquisition of this asbestos abatement company.
5)
FISK ELECTRIC CO. - directed
the financial analysis, structured the proposal, and secured
$10 million financing to acquire this well-known electrical
contractor from its British owner, AMEC. Key executives then
went to London for discussions with AMEC but a final price
could not be agreed upon.
6)
HOUSTON INTERNATIONAL TELEPORT - project
manager for what was originally a $3 million satellite
communication facility in Missouri City, Texas. Today, the
business provides services on a worldwide basis for Fortune
100 corporations as well as for many countries. Total
investment today is in excess of $10 million.
7)
SIXTEEN GREENWAY PLAZA - project
manager for 38 story, $125 million building designed and
planned (but postponed) for Greenway Plaza, Phase III;
included obtaining 100% financing from Bank of America for
both the construction and permanent loan.
8)
BANK OF THE SOUTHWEST CENTER - project manager for 82-story, $440
million building designed for Block 142 in downtown Houston.
Project put on hold in 1984 with the downturn of the Houston
office market.
9)
BLOCK 298 IN DOWNTOWN HOUSTON - directed
the acquisition of the north half of this block (i.e.,
31,250 square feet) for a foreign client. The land was
acquired for $100 per square foot in 1979, and sold for $400
per square foot in 1983, resulting in a $9 million cash
profit to the foreign owner.
10)
BLOCK 321 IN DOWNTOWN HOUSTON - directed
the acquisition of this block, which included a combination
of ground leases and fee simple purchases from several
different landowners.
11)
BLOCK 320/321 SWAP - negotiated
the exchange of Century's ownership of the south half of
Block 320 for Wortham-Van Liew's ownership of the south half
of Block 321. After the transaction was completed, worked
with an innovative tax lawyer in a "Restated Swap
Agreement" which was sustained by tax officials and
completely avoided tax on the cash "profit"
portion of the transaction.
12)
HOUSTON BLUEPRINT AND STATIONERY CO. - in
connection with the acquisition of Blocks 320 and 321,
Houston Blueprint, who sold and leased back their Block 320
site, had to be re-located twice.
13)
ANTIOCH PARK - negotiated
a ground lease of a portion of Antioch Missionary Baptist
Church of Christ's property, and then developed $1 million
Antioch Park in Alien Center. Also negotiated with the City
of Houston the part-sale and part-gift to the city of the
park.
14)
CULLEN CENTER / ALLEN CENTER LAND SWAP - negotiated
with the owners of Cullen Center, Alien Center, and the City
of Houston for a series of land swaps to re-align the
streets "behind" and to the west of both projects
giving both projects better access off Jefferson Street and
the 1-45 ramp.
15)
TEXACO/JEFFERSON CHEMICAL BLDG. - responsible
for the renovation and profitable sale of a building owned
entirely by Century Development. A complex transaction that
required "unwinding" two previous sale - leaseback
agreements of the same property. Sold to an investor from
Hong Kong on a 4.5% unleveraged capitalization rate (i.e.,
sales price equal to 22 times cash flow).
16)
CAPITAL BANK LEASE / CAPITAL BANK STOCK TAX CREDIT -
assisted senior management in the negotiation of
this 200,000 square foot lease in Three Alien Center which
included a sale - leaseback of the land and building to
Capital Bank, who later merged with M Corp. Prepared a
position paper on V.A.T.S., Article 7166, a Texas statute
which provided that banks "owning" real estate
could deduct annually from the amount they would have
otherwise had to pay the state for taxes on their paid-in
capital and retained earnings, the amount they paid for
city, school, county, and state ad valorem taxes on real
estate they owned. Monitored and carefully reviewed the case
law on this subject for five years with outside counsel, and
with the Vinson & Elkins law firm, who represented all
Houston banks through the Houston Clearinghouse Association.
The bank tenant leases and building ownership for every
major bank building built in downtown Houston in the 1970s
and early 1980s was structured pursuant to this state
statute and resulting case law.
17)
CAPITAL BANK LEASE COMMISSION - several
years after the initial lease commission was paid to
Century, went back to Metropolitan Life Insurance Co. and
American General and was able to convince them to pay
Century several hundred thousand dollars in additional
commission based on 4% of the additional rent Capital Bank
paid to Alien Center pursuant to the benefits
gained by the bank under the bank stock tax credit
mechanics.
18)
MOBIL OIL OPTION ON PHASES HI/IV, GREENWAY PLAZA - project manager for negotiating a $40 million option with a Mobil
Oil real estate subsidiary for them to acquire all the
undeveloped land in Greenway Plaza. Mobil had actually
instructed their lawyers to prepare to close on the land
when Business Week ran a story highly critical of oil
companies' "windfall" profits and their use in
diversification. This negative publicity caused the
executive committee of Mobil to decide not to acquire the
property.
19)
CAPITAL STRUCTURE FOR FIRST INTERSTATE BANK PLAZA
PARTNERSHIP - devised
partnership capital structure so Century could legally avoid
tax on $7 million in development and marketing fees.
20)
SAN DIEGO LAND
ACQUISITION ATTEMPT - spent
several weeks in San Diego evaluating the market there and
making $40 million offer to purchase 60 acres form Home
Capital Savings. The parties were not able to agree on an
acceptable purchase price.
21)
CREATED INSURANCE AGENCY - thoroughly
evaluated Century Corp's entire insurance program and
premiums, then reactivated a dormant BancPLUS insurance
agency, and negotiated a contract with another insurance
agency to manage Century's BancPLUS agency.
22)
SACRAMENTO RFQ/RFP - in
charge of preparing a Request For Qualifications and
Proposal to the Sacramento Redevelopment Authority to
develop the 100,000 square foot "Super Block" in
downtown Sacramento. At this time, Century Development's
parent was BancPLUS Savings, who had become insolvent and
this was a primary reason for Century not being selected to
go to the next round of judging.
23)
WIRT ROAD
APTS. - negotiated
a contract to purchase 750 apartments on Wirt Road (adjacent
to the Fiesta) from a savings and loan. Due to Century/BancPLUS
situation, Century was not able to close on this
transaction.
24)
RENOVATION OF HOUSTON CITY CLUB - project
manager for $600,000 renovation of the club to add five
racquetball courts, an indoor running track, and a new
aerobics floor, and expanded weight room facilities.
25)
PHASE IV MASS TRANSIT TERMINAL (FUTURE PLAN) - coordinated
Century's efforts in working with the MTA, mass transit
engineers and consultants, and others in developing a
business proposal to the MTA for location of a major rail
terminal in Phase IV of Greenway Plaza (south of Southwest
Freeway between Weslayan and Edioe). Also included obtaining
a "comfort letter" from State of Texas regarding
proposed overhead people mover system crossing over the
Southwest Freeway from Phase IV of Greenway to Phase III
(across Timmons from The Summit).
26)
WESTPARK LAND ACQUISITION - responsible for the acquisition of 5 acres of land on Westpark
near the Southwest Freeway overpass.
27)
HOTEL SITE SELECTION - traveled
to Amarillo, Albuquerque, and New Orleans reviewing the
markets there for potential Doubletree Hotel sites.
28)
MAXIM'S - negotiated
the contract to sell Maxims 20,000 square feet of land in
Greenway and was responsible for managing the design and
construction of this beautiful restaurant.
29)
CENTURY EQUITIES FORMATION - organized
the formation of this syndication company, was in charge of
getting everyone licensed, and reviewed securities laws with
outside law firm. Was on the initial board of directors.
30)
REDESIGNED CORE ON JACKSON, MISSISSIPPI BLDG. - worked with Bob Fillpot of Lloyd, Jones, Fillpot & Associates
in the re-design of the central core of an office building
in Jackson, Ms. which ultimately added 10% more usable space
to the building.
31)
BANK DEBT
RESTRUCTURING - before leaving Century, began negotiating and restructuring an
existing $80 million loan with Citicorp in a
"work-out" situation.
32)
SECTION 209, TAX REFORM ACT OF 1982 - worked
with the Senate Finance Committee and the National Realty
Committee preparing special language which was accepted for
this Internal Revenue Code section. The basis of the
language provided for the "grandfathering" of the
ability of corporations to expense 100% in the year incurred
the construction period interest. The TRA '82 provided that
corporations "starting construction" after
December 31, 1982, would be treated the same as individuals.
Thus meant corporations would have to capitalize and
amortize the construction period interest over a ten-year
period. From a present value of money standpoint, it is much
better to be able to expense 100% of a cost in the year
incurred versus amortizing it equally over ten years. This
"grandfathering" language was especially important
because it defined "beginning construction" with,
when applicable, the demolition of an existing building. At
the time, Century had begun demolition of a building in
connection with a planned high-rise office building. The pro
forma construction period interest was $40 million and it
was important at the time to be able to expense the interest
in the years incurred.
33) 33)
ASSISTED IN THE PROJECT MANAGEMENT OF THREE ALLEN
CENTER - assisted
in the joint venture and mortgage negotiations with
Centennial Equities, a subsidiary of Metropolitan Life
Insurance Co., and American Genera! Realty Co., a subsidiary
of American General Insurance Corp. Also assisted in the
project management of this 50 story, $110 million building
and 3400 car garage.
34) 34)
ASSISTED IN THE PROJECT MANAGEMENT OF FIRST
INTERSTATE BANK PLAZA (previously named ALLIED BANK PLAZA) - assisted in the joint venture and mortgage negotiations with
Centennial Equities and American General Realty Company and
also assisted in the project management of this 71 story,
$240 million building and related garages.
35) 35)
ASSISTED IN THE PROJECT MANAGEMENT OF THE ENRON
BUILDING (previously named FOUR ALLEN CENTER) - assisted
in the joint venture and mortgage negotiations with
Centennial Equities and American General Realty Company.
Assisted in the project management of this 50 story, $160
million building.
36) 36)
INNOVA - was
involved in the initial "brainstorming" sessions
with Kenneth Schnitzer, Richard Everett, and the Mischer
Corporation in developing the concept for the Houston Design
Center (later renamed Innova). Was also the initial project
manager.
37) 37)
HIGH-RISE
CONDO - owner's
representative for luxury high-rise condo built-out by
Partners Construction at Four Leaf Towers.
38) 38)
METROPOLITAN RACQUET CLUB EXPANSION - project manager for $500,000 renovation of the Racquet Club which
included adding squash and racquetball courts, and updating
the weight room and locker rooms.
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