Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
ST Residential Announces Multi-Family Portfolio Sale
Attractive 13- Property Portfolio in High-Growth Markets Around the Country, Valued at Nearly $1 Billion, to be Released at NMHC's Annual Event

CHICAGO, Jan. 18, 2013 /PRNewswire/ -- ST Residential, a manager of properties owned by a public-private partnership between the FDIC and a group of leading U.S. private real estate investors, today announced it will list 13 acclaimed multi-family properties in eight states across the country from its portfolio at the National Multi-Family Housing Council's (NMHC) annual meeting in Palm Springs on January 22 and 23.

The multi-family portfolio, which carries an estimated value of nearly $1 billion, features high-quality properties all located in regions of the country currently experiencing strong rental growth. The properties are located in Atlanta, Chicago, Houston, Las Vegas, Los Angeles, Phoenix, Stamford, CT and Tampa, and will be offered individually in sub-portfolios or as a single portfolio sale. Each building is committed to luxury condo level finishes and as rental buildings in excellent locations.

The listing represents the latest example of ST Residential successfully repositioning the assets it manages on behalf of the public-private partnership. Since acquiring the assets through the acquisition of a portfolio held by the former Corus Bank in October 2009, the partnership has been committed to intelligent and patient stewardship of each property and the portfolio overall. ST Residential has earned a reputation for providing the best lifestyle opportunities to buyers and renters by repositioning and improving their properties in a way that matches their consumers' needs and desires. After the completion of construction, and in some cases, nearly complete redesign of landscaping, sales centers and model units, the portfolio's occupancy (on stabilized assets) has now reached 98%.

"The Corus Bank transaction has performed extremely well for the FDIC and our private investor group. The partnership has repaid $1.3 billion of FDIC purchase money notes and has more than $1.0 billion of cash in hand. More than 32 loans were paid off at par and we have sold 60% of the condo inventory we acquired at ever escalating prices," said Barry Sternlicht (Chairman & CEO of Starwood Capital Group), Chairman of ST Residential. "We are very proud of where we have taken this portfolio and look forward to finishing our task with continued excellent performance, including the sale of this portfolio." 

"We are excited to take this unique portfolio of high-quality multi-family properties to market at a time when there is very strong demand for these unique city-center, newly constructed assets," said Kelvin Davis (TPG), Board Member of ST Residential. 

Wade Hundley, CEO of ST Residential, added, "Now that we are beginning our fourth year of the realization of the Corus Bank portfolio, the time was right within the portfolio lifecycle to sell these extremely unique, high-performing properties for the benefit of the FDIC and our private investors."

Additionally, ST Residential has hired HFF and Eastdil Secured to manage the sale, as both companies are recognized for their large portfolio experience and strategic approach. 

Contact


Potential Buyers: 

Press Inquiries:

Jeff Weber    

Jon Pertchik

jweber@eastdilsecured.com 

jpertchik@stresidential.com

Matthew Lawton


mlawton@HFFLLP.com


   

 

About ST Residential
ST Residential leads a public-private partnership between the FDIC and a consortium of esteemed private-equity investors, and manages a nationwide luxury high-rise residential project portfolio. Members of the private equity consortium include Starwood Capital, TPG, Perry Capital and WLR LeFrak. By managing its portfolio with an unmatched level of detail and tailoring projects to the communities they serve, the company strives to be the standard bearer for luxury high-rise residential projects. For more information, visit www.stresidential.com.

SOURCE ST Residential

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
More and more enterprises today are doing business by opening up their data and applications through APIs. Though forward-thinking and strategic, exposing APIs also increases the surface area for potential attack by hackers. To benefit from APIs while staying secure, enterprises ...
Web conferencing in a public cloud has the same risks as any other cloud service. If you have ever had concerns over the types of data being shared in your employees’ web conferences, such as IP, financials or customer data, then it’s time to look at web conferencing in a private...
Many cloud hosting providers have achieved ticket-of-entry credibility in the data warehousing industry by building simple colocation centers. A first-tier database as a service (DBaaS) contender, however, is set apart by a value-added service approach that is strategic, consulta...
Today’s hyper competitive environment defined by unreasonable demands for speed and high expectations for quality and usability has forced companies to differentiate based on their technology. Every company is a software company where customers’ demands for features and functions...
Next-Gen Cloud. Whatever you call it, there’s a higher calling for cloud computing that requires providers to change their spots and move from a commodity mindset to a premium one. Businesses can no longer maintain the status quo that today’s service providers offer. Yes, the con...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE

Breaking Cloud Computing News
Parsons is pleased to announce that it has acquired Secure Mission Solutions, a premier provider of ...