Hotel Financing – Guide Global http://guideglobal.com/ Thu, 13 Jan 2022 23:29:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://guideglobal.com/wp-content/uploads/2021/05/default1.png Hotel Financing – Guide Global http://guideglobal.com/ 32 32 Status of Marriott hotel unclear – Times Gazette https://guideglobal.com/status-of-marriott-hotel-unclear-times-gazette/ Thu, 13 Jan 2022 23:08:22 +0000 https://guideglobal.com/status-of-marriott-hotel-unclear-times-gazette/ With the flurry of new businesses opening in Hillsboro in recent months, the current state of a proposed business – a Marriott hotel including a shopping mall that, at least at one point, was expected to encompass 30,000 square feet and include “a bank , five or six restaurants, second-floor offices,” and a Buffalo Wild […]]]>

With the flurry of new businesses opening in Hillsboro in recent months, the current state of a proposed business – a Marriott hotel including a shopping mall that, at least at one point, was expected to encompass 30,000 square feet and include “a bank , five or six restaurants, second-floor offices,” and a Buffalo Wild Wings-esque sports bar on the corner of Harry Sauner Road and SR 73 in Hillsboro, remains ambiguous.

Julie Bolender, who in May last year was named director of economic development for Highland County, said she was “unable to confirm anything at this time”, regarding the proposed development.

At a Hillsboro City Council meeting on September 13, 2021, Hillsboro Director of Security and Services Brianne Abbott reported that the Marriott project was still ongoing and said, “I believe they are working still with county and state on funding. She said a promissory note had been extended for the project until December 30 last year, after noting various “project delays” previously invoked by the coronavirus pandemic.

In January 2021, The Times Gazette reported that a resolution had been approved by City Council to advance from unencumbered general funds the amount of $200,000 for the agreed payment for the infrastructure of the project and that, “The resolution withdrew prior authorization to use TIF funds for the project.”

In October 2019, members of the Hillsboro City Schools Board of Trustees approved a 25-year tax increment funding (TIF) district as per the multimillion-dollar project proposal and following of a plea to this effect by the promoters.

At a January 2021 city council meeting, it was reported that Abbott said the promissory note was signed by the developers guaranteeing that if the bonds did not sell within six months, the money would be “reimbursed to TIF funds”. . ”

At the same time, Abbott said, “In the current climate of COVID-19, a city attorney has recommended that a promissory note be included to protect the city from loss in the event the Marriott project is not successful. not.” She also said she “didn’t foresee any problems moving forward.”

Abbott said this week that “at this time, we don’t have an update on the Marriott project. They are currently working on state and county funding.

In July 2020, developers including Ankur Patel unveiled tentative plans for the project in a presentation, and at that time said the project was “scheduled to kick off in the spring of 2020”. Patel revealed that the project is expected to take 12-14 months.

Hillsboro Mayor Justin Harsha said developers are currently “seeking public funding for the project” and the city “hopes to have more information soon.”

Patel did not respond to requests for information.

Juliane Cartaino is a freelance writer for The Times-Gazette.

Ankur Patel, one of the developers working to bring the Marriott hotel to Hillsboro, explained the proposed hotel and commercial plaza layout to local government officials during a meeting in December 2019.

City officials say state and county funding is being worked on

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Downtown Oak Park Holiday Inn Goes Ahead https://guideglobal.com/downtown-oak-park-holiday-inn-goes-ahead/ Tue, 11 Jan 2022 21:44:27 +0000 https://guideglobal.com/downtown-oak-park-holiday-inn-goes-ahead/ It looks like downtown Oak Park will get this Holiday Inn Express and Suites after all. All of the village board members present at the January 10 meeting endorsed the project, asking staff to work with the neighboring condominium association to alleviate the Lake Street congestion. Administrator Arti Walker-Peddakotla was absent from the meeting. “As […]]]>

It looks like downtown Oak Park will get this Holiday Inn Express and Suites after all. All of the village board members present at the January 10 meeting endorsed the project, asking staff to work with the neighboring condominium association to alleviate the Lake Street congestion. Administrator Arti Walker-Peddakotla was absent from the meeting.

“As much as possible, we will work on the challenges of the residents,” promised village president Vicki Scaman. “It really is inevitably us that you have to hold accountable for this, as the village council.”

The project initially received approval from the village council under then-mayor Anan Abu-Taleb in November 2019, but the ensuing pandemic delayed the project and the village’s approval expired.

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Reliance, TCS, Kotak Mahindra, CSB Bank, IndiGo https://guideglobal.com/reliance-tcs-kotak-mahindra-csb-bank-indigo/ Mon, 10 Jan 2022 02:26:17 +0000 https://guideglobal.com/reliance-tcs-kotak-mahindra-csb-bank-indigo/ Here are the top ten actions that could be in the spotlight on Monday: Trusted industries: Billionaire Mukesh Ambani’s company has announced the acquisition of New York’s upscale luxury hotel Mandarin Oriental for $ 98.15 million. Established in 2003, the Mandarin Oriental New York is an iconic luxury hotel located at 80 Columbus Circle, right […]]]>

Here are the top ten actions that could be in the spotlight on Monday:

Trusted industries: Billionaire Mukesh Ambani’s company has announced the acquisition of New York’s upscale luxury hotel Mandarin Oriental for $ 98.15 million. Established in 2003, the Mandarin Oriental New York is an iconic luxury hotel located at 80 Columbus Circle, right next to pristine Central Park and Columbus Circle.

Tata Consulting Services: India’s largest IT company said its board will consider a takeover proposal on January 12. The board of directors of the Mumbai-based company is due to meet on January 12 to approve and take note of the company’s financial results for the third quarter.

Steel tata: The company reported an increase of more than 2% in consolidated steel production to 7.68 million tonnes (MT) for October-December. The company’s consolidated steel production was 7.51 MT in the corresponding period of the previous fiscal year 2020-21.

Kotak Mahindra Bank: The dispute between BharatPe founder Ashneer Grover and the lender over IPO funding escalated sharply, with the bank’s wealth management unit vowing to sue the use by Grover of abusive language and threats.

Future Group companies: Amazon Holdings NV has moved the National Company Law Appeals Tribunal against the Dec. 17 order of the Indian Competition Commission (ICC), revoking its approval of Amazon’s deal with Future Coupons for alleged misrepresentation .

Sobha Ltd: The company reported sales volume of 1,322,684 square feet of super-metropolitan area in the third quarter, an increase of 17% year-over-year. The sale value was ??1,048 crores, up 18%.

CSB Bank: The managing director and CEO of Kerala-based lender CVR Rajendran has decided to take early retirement for health reasons, the bank said in a press release on Saturday. Rajendran, whose term was only due to end on December 8 of this year, shortened his term to March 31.

InterGlobe Aviation: IndiGo airline, operated by the company, said it will cut capacity by 20% due to the current wave of the covid-19 pandemic. The airline has also said it is waiving change fees for all new and existing bookings made for flights through March 31, 2022, as large numbers of passengers change their travel plans due to the growing number of passengers. infections.

Federal Bank: Informed him of the exchanges that his Council will consider and generate up to ??700 crore through the issuance of bonds on the basis of a private placement.

Mahanagar Gas: The company increased the price of CNG by ??2.50 to ??66 / kg and PNG by ??1.50 to ??39.50 / SCM, effective January 8.

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This Week’s Houston Deals Sheet (Jan 1, 2022) https://guideglobal.com/this-weeks-houston-deals-sheet-jan-1-2022/ Sat, 08 Jan 2022 01:02:22 +0000 https://guideglobal.com/this-weeks-houston-deals-sheet-jan-1-2022/ CBRE arranged funding for the Indigo Houston Hotel at the Galleria, a 131-key hotel located in Houston’s Uptown submarket. The property at 5160 Hidalgo St. was purchased by Driftwood Capital in July 2021. It was valued at $ 9.1 million at the start of 2021, although it was not disclosed at the time how much […]]]>

CBRE arranged funding for the Indigo Houston Hotel at the Galleria, a 131-key hotel located in Houston’s Uptown submarket.

The property at 5160 Hidalgo St. was purchased by Driftwood Capital in July 2021. It was valued at $ 9.1 million at the start of 2021, although it was not disclosed at the time how much the new owners from the hotel had paid. the Houston Business Journal reported.

Courtesy of Driftwood Capital

Indigo Houston Hotel at the Galleria

Olga Lepow and Mark Owens of CBRE’s Capital Markets Debt & Structured Finance team organized the financing for the new sale.

Built in 2001 and renovated in 2009, the Indigo Hotel features over 3,000 square feet of meeting space, four meeting rooms, a fitness center, and on-site restaurant.

In a statement immediately following the July sale, Driftwood Capital CEO Carlos J. Rodriguez Sr. cited the property’s proximity to the state’s largest mall and bustling business district.

“With over 23 million square feet of office space and tenants nearby, including General Electric, BBVA Compass and Marathon Oil, the tourism and business sectors focused in this area will allow us to realize investment gains. considerable while providing a newly branded and modern hotel to the community, ”said Rodriguez.

STAFF

The Houston Land Bank hired Christa Stoneham as CEO. Stoneham was formerly Mayor Sylvester Turner’s ex officio representative on the HLB board of directors and division director at the Complete Communities Office.

Houston Land Bank is a local public corporation that redevelops vacant, abandoned or damaged properties in Houston and creates affordable housing.

***

Construction management company AG | CM has promoted Marty Schmitt to the post of chairman. Schmitt replaces Chairman and Founder Derwood Anderson, who is now CEO.

Schmitt was previously COO and Vice President of the Eastern Region. He was hired in 2007. In a previous role in Boston, he worked on Big Dig, a massive civilian project that hijacked Interstate 93.

SALES

Chris Hutcheson, James Kadlick, Harrison Kane and Matt Herring of Rockspring Properties have announced several sales:

–The four represented the owners in a 2.25-acre sale of Interstate 45 and the Grand Parkway in Spring to Eastgroup Properties, which will use it for industrial development.

– They represented the owners of 2.5 acres on the north side of Bissonet in a sale to a gas station developer for a convenience store and gas station. Sunoco Retail will be the fuel supplier.

– They represented the owners of a 35-acre lot in Missouri City in a sale to Dinerstein Cos., Which will build a development of 162 single-family units for rent.

– They represented the seller of 68 acres at US 290 and Kermier Road to Grand Logistics PropCo, which will build an industrial development.

***

Partners Capital acquired Silverlake Business Park from Pearland. The 90K SF, five office and warehouse buildings is located at 2837 Miller Ranch Road. This is the third acquisition of Partners Capital Fund IV. WC Properties sold the property and represented itself.

***

An anonymous Houston-based investor acquired 1.6,000 acres in Montgomery County. Work on the site, bordered by FM 1486, will begin at the end of 2022.

The unnamed development is located between College Station and Houston. Rob Whitaker and Joe Burke of NewQuest Properties represented the buyer, Eugene Campbell Family Partnership, in the transaction.

***

A Dallas investment fund bought a flex building for 97K SF from Webster. The nearly 7 acre property is located at 17146 Feathercraft Lane. Judd Harrison and Pat Duffy of Colliers represented the seller, Tiberius Nero. Jared Pinto of Newman Kelly Commercial Real Estate represented the buyer.

Reserved area

Park at Tour 18

Dallas-based Civitas Capital Group has acquired Park at Tour 18, a 241-unit multi-family complex in Humble. Park at Tour 18 was designed by Mucasey & Associates and built by Blazer.

***

2GRE Equity and RVP Capital, based in Grapevine, TX, have purchased Forest Retreat RV Park in New Caney as part of a joint venture. The 27.3-acre property will expand 49 more spaces by the end of the year.

LEASES

Stream Realty Partners announced several new leases:

– Sigma Supply has renewed its 41K SF lease at Reed’s Landing Business Park at 2020 Greens Road. Jeremy Lumbreras of Stream Realty represented the owner, Link Industrial.

– Garylynn rented 10K SF from Astro Business Park at 8901 Knight Road. William Carpenter and Boone Smith of Stream Realty represented the owner, ATCAP Partners.

CONSTRUCTION AND LAYOUT

Christopher Todd Communities and Taylor Home Corp. will open a construction project for lease at Cypress.

The 240-home development will span 19 acres and will include one, two and three bedroom smart homes ranging from 750 to 1,250 square feet.

Riverway Properties CEO John Santasiero negotiated the deal. The two companies are planning further developments in Arizona, North Carolina and Florida.


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Council adopts ordinance to redesign neighborhoods A and C and discuss city project needs https://guideglobal.com/council-adopts-ordinance-to-redesign-neighborhoods-a-and-c-and-discuss-city-project-needs/ Tue, 04 Jan 2022 15:54:27 +0000 https://guideglobal.com/council-adopts-ordinance-to-redesign-neighborhoods-a-and-c-and-discuss-city-project-needs/ Watertown City Council approved a memorandum of understanding with Stony Point Investments, LLP at Monday’s meeting. The developer is completing the second phase of the Stony Point project, which potentially includes a hotel, condominiums, retail and entertainment spaces. The memorandum is intended to help the developer work with funders and asks the city for funding […]]]>

Watertown City Council approved a memorandum of understanding with Stony Point Investments, LLP at Monday’s meeting.

The developer is completing the second phase of the Stony Point project, which potentially includes a hotel, condominiums, retail and entertainment spaces.

The memorandum is intended to help the developer work with funders and asks the city for funding through tax increases.

“As stated in the (memorandum), he is not asking that we seek seed funding for this TIF,” lamented City Attorney Matt Roby.

Following:Stony Point development increases despite Lake Kampeska Water District concerns over pollution and lake health

TIF districts are often created to help cover some of the initial public infrastructure expenses. Funds received are repaid through property taxes collected on improvements in the district. Once these expenses are reimbursed, the higher property taxes collected go to local governments.


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Flagship project requests $ 1.1 million in tax subsidies | Local news https://guideglobal.com/flagship-project-requests-1-1-million-in-tax-subsidies-local-news/ Sun, 02 Jan 2022 12:15:00 +0000 https://guideglobal.com/flagship-project-requests-1-1-million-in-tax-subsidies-local-news/ MANKATO – City of Mankato urged to provide more than $ 1.1 million in tax grants for $ 13.3 million redevelopment of historic downtown Mankato building into upscale apartments, distillery and in a cocktail bar. Developer Jon Kietzer plans to begin construction on the project in the second half of February if city council approves […]]]>

MANKATO – City of Mankato urged to provide more than $ 1.1 million in tax grants for $ 13.3 million redevelopment of historic downtown Mankato building into upscale apartments, distillery and in a cocktail bar.

Developer Jon Kietzer plans to begin construction on the project in the second half of February if city council approves the additional tax financing plan on February 14.

“I am 100% committed to this project, which I have been working on for 3 years,” Kietzer wrote in a letter accompanying his request for help. “I think this will become an iconic property at the corner of 2nd and Main streets when completed.”

The plan is to gut the three-story structure, built in 1919 as a Dodge car dealership, add a fourth story, and build a four-story addition on the northwest side. A total of 33 high-end apartments are planned for the upper floors, renting between $ 1,600 and $ 3,100 per month, with the distillery, lounge bar and event center on the first floor.

The building is to be connected by a new skyway to the City Center Hotel, also partly owned by Kietzer, which is due to undergo a major renovation from April or May.

For the project to be financially viable and move forward, funding through tax increases is needed, according to Kietzer.

A financial advisor hired by the city came to the same conclusion.

The TIF funding would not provide any direct payment from the city to the developer, but rather would return a portion of the additional property taxes generated by the project to Kietzer and its partners to help cover project expenses.

Blue Earth County appraisers have estimated the property’s market value will drop from less than $ 1.1 million currently to nearly $ 6.3 million once the redevelopment is complete – $ 3.5 million for 33 apartments and $ 2.8 million for first floor commercial property.

Under the proposed grant, the property owner would continue to pay their current property taxes of approximately $ 20,000 to the city, county and school district. But the additional property taxes generated as a result of the building’s expansion and renovation – $ 79,000 in additional annual taxes on the higher-value structure – would flow back to owners for 15 years to help cover the costs of eligible redevelopment of the project. These include interior demolition, asbestos removal, modernization of utilities, soil remediation and land acquisition.

The cumulative amount returned to Kietzer and its partners between 2024 and 2039 would be $ 1.15 million. After the 15 years, all property taxes generated by the Landmark Building would revert to the city, county and school district.

Minnesota law allows cities to approve these kinds of grants, regardless of the opinion of counties and school districts, only if the aid is so vital to the success of the project that TIF’s denial would doom the project.

Baker Tilly city councilors reviewed the financial data for the project on behalf of the city and determined that “the project would be unlikely to go ahead without the requested TIF assistance.”

Passing the non-compliance test allows city council to approve the grant, but does not require it. A decision is expected following a public hearing at the February 14 council meeting.

While the redevelopment does not create new affordable housing for low-income workers, a top priority for the council, it would increase the tax base, create around 13 jobs, transform an aging building, and meet council goals of bringing residents and other downtown vitality.

“The distillery / event center will be able to handle events / parties of more than 200 participants,” according to Kietzer’s request. “It will feature a cocktail lounge with both indoor and outdoor seating. As it is connected to the hotel next door, it will attract big events such as weddings, conventions, etc.

Construction costs for the project are expected to be $ 8.8 million with the total amounting to $ 13.3 million when land acquisition, development costs, interest costs, charges architectural and redevelopment costs are included.


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2021 Newsmaker: John Kite, CEO and Chairman of Kite Realty Group Trust https://guideglobal.com/2021-newsmaker-john-kite-ceo-and-chairman-of-kite-realty-group-trust/ Fri, 31 Dec 2021 19:00:00 +0000 https://guideglobal.com/2021-newsmaker-john-kite-ceo-and-chairman-of-kite-realty-group-trust/ (IBJ file photo) INyianapolis-based Kite Realty Group Trust announced in July that it would merge with Oak Brook, Ill.-Based Retail Properties of America Inc. in an all-stock transaction valued at $ 2.8 billion. The move, which ended in October, made Kite the fifth largest shopping mall real estate investment trust in the country and, according […]]]>

(IBJ file photo)

INyianapolis-based Kite Realty Group Trust announced in July that it would merge with Oak Brook, Ill.-Based Retail Properties of America Inc. in an all-stock transaction valued at $ 2.8 billion.

The move, which ended in October, made Kite the fifth largest shopping mall real estate investment trust in the country and, according to IBJ research, the ninth largest general REIT by total value. (The largest, of course, is Simon Property Group Inc., also based in Indianapolis.)

Most important to central Indiana, the amalgamated company retained the Kite name, Indianapolis headquarters and management, with Kite CEO John Kite continuing in that role.

John Kite now runs a business with an enterprise value of $ 7.5 billion and approximately 185 shopping centers totaling 32 million square feet, consisting of 83 Kite-owned properties and 102 Retail Properties centers, which have merged. in a Kite division.

The merger “is a great strategic fit that fits perfectly with most of the macro trends that we see impacting our industry,” Kite said of the deal during a third quarter call with analysts.

“It’s about real estate,” he said. “Our premium assets benefit from high growth, warmer and cheaper markets. These low-tax, business-friendly geographies continue to benefit from the strongest demographic growth and business relocations. “

The merger more than doubled the company’s annualized base rent and rental space in these markets, largely in Texas and Florida.

Kite Realty Group Trust went public as a REIT – a type of public company modeled on mutual funds that distribute income to investors – in 2004, with John Kite then becoming CEO. Before that, he had been president of Kite Cos. for seven years. He joined the organization, founded in 1960, as CFO of Kite Development in 1990.

John Kite’s decision to acquire Retail Properties of America actually came after some downsizing. In 2019, Kite sold 14 of its non-core properties for a combined $ 415 million. And Retail Properties had done much the same, selling 47 of its properties for a combined $ 917.8 million in 2017.

But the merged company has a larger and more focused portfolio that observers say will make it easier to secure funding for projects. “Having a lot more malls in a lot more geographies means groups will be a lot more willing to lend to them,” said Roger Lee, senior research analyst at Columbus-based Kirr Marbach and Co. LLC. Indiana.

That could come into play as Kite plans to redevelop Pan Am Plaza in downtown Indianapolis, a project that is expected to include an extension of the Indiana Convention Center and at least one massive 814-room hotel.

John Kite told IBJ the merger would take the company “to the next level in every key measure in the portfolio.”

“We strongly believe that one plus one is five here,” he said. “The things that we’ve both done historically to get us to this point – it just fits very, very strongly. “•

Find out more News 2021.


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A YEAR-END MEDLEY, starring Korean actress Ko Sung-hee of Spackman Media Group, ranked as the best Korean film at the Korean box office and number one on the Korean OTT platform TVING on the first day of its release | Taiwan News https://guideglobal.com/a-year-end-medley-starring-korean-actress-ko-sung-hee-of-spackman-media-group-ranked-as-the-best-korean-film-at-the-korean-box-office-and-number-one-on-the-korean-ott-platform-tving-on-the-first-day/ Thu, 30 Dec 2021 06:45:00 +0000 https://guideglobal.com/a-year-end-medley-starring-korean-actress-ko-sung-hee-of-spackman-media-group-ranked-as-the-best-korean-film-at-the-korean-box-office-and-number-one-on-the-korean-ott-platform-tving-on-the-first-day/ Spackman Media Group artist Ko Sung-hee stars alongside Han Ji-min, Lee Dong-wook, Kang Ha-neul and others in star-studded romantic comedy film A END-OF-YEAR MEDLEY Represented by MSteam, a wholly-owned subsidiary of Spackman Media Group, Ko Sung-hee won Best New Actress at the 2014 MBC Drama Awards for her role in MISS KOREA (2013) and NIGHT […]]]>
  • Spackman Media Group artist Ko Sung-hee stars alongside Han Ji-min, Lee Dong-wook, Kang Ha-neul and others in star-studded romantic comedy film A END-OF-YEAR MEDLEY
  • Represented by MSteam, a wholly-owned subsidiary of Spackman Media Group, Ko Sung-hee won Best New Actress at the 2014 MBC Drama Awards for her role in MISS KOREA (2013) and NIGHT GUARD’S DIARY (2014)

SINGAPORE – Media reach – December 30, 2021 – Spackman Entertainment Group Limited (the “Group“), one of the leading entertainment production groups in Korea, would like to announce that A END-OF-YEAR MEDLEY with Ko Sung-hee of MSteam Entertainment Co., Ltd. (“MSteam“), a wholly-owned subsidiary of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), ranked first Korean film at the Korean box office and number one on the Korean OTT platform TVING on the first day of its release yesterday.

Besides Ko Sung-hee from MSteam under Spackman Media Group, A END-OF-YEAR MEDLEY includes Han Ji-min, Lee Dong-wook, Kang Ha-neul, YoonA, Won Jin-ah, Seo Kang-joon, Lee Kwang-soo, Kim Young-kwang, Lee Jin-wook, Lee Kyu-hyung, Jo Joonyoung , Won Ji-an, Lee Hye-young and Jung Jin-young. The romantic comedy film tells the story of the different types of people inside the Emrose Hotel, the favorite haunt of tourists and vacationers.

Previously, MSteam’s Ko Sung-hee won Best New Actress at the 2014 MBC Drama Awards for her role in MISS KOREA (2013) and NIGHT GUARD’S DIARY (2014). His recent works include the Korean remake of COMBINATIONS (2018) on KBS2, MY HOLO LOVE (2020) on Netflix and KINGMAKER: THE CHANGE OF DESTINY (2020) on TV Chosun. Besides Ko Sung-hee, MSteam also represents emerging international Korean actor Wi Ha-jun from Netflix’s original Korean series, SQUID GAME (2021), iconic Korean actress Son Ye-jin from hit romantic drama A LANDING CRASH ON YOU (2020) and Best Actress Lee Min-jung who won the Excellence Award at the 2020 APAN Star Awards.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL“or the”Society“), and with its subsidiaries, (the”Group“), founded in 2011 by Charles Spackman, is one of the leading entertainment production groups in Korea. SEGL is primarily engaged in the independent development, production, presentation and financing of motion pictures in Korea. According to Variety, Korea was the fourth largest box office market in 2019, behind only North America, China and Japan.

Since its incorporation in 2011, SEGL has produced more than 30 films, including a number of the highest-grossing and award-winning Korean films, namely #LIVING (2020), MAD ROMANCE (2019), FAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOW CUP (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

The Group also invests in and produces Korean television dramas. In addition to our content business, we also hold interests in entertainment-related companies and film funds that can financially and strategically complement our existing core businesses. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under ticker 40E.

Manufacturing labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter and / or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTSIDE LAI and SECRETLY, BIG, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE OF THE STARS, as good as FRIEND 2: THE GREAT HERITAGE. In 2012, Novus Mediacorp was also the distributor of the post-theater rights of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTSIDE LAI, co-presented by Novus Mediacorp broke the highest ever video-on-demand record (“VOD“) sales records in Korea. For more information on Novus Mediacorp, visit http://novusmediacorp.com.

The Company owns a 100% interest in Simplex Films Limited (“Front-side films“) which is an early stage film production company. Simplex Films’ debut film, JESTERS: THE GAME CHANGES (2019), was released in Korea on August 21, 2019. Simplex Films offers several films including HURRICANE BROTHERS (working title).

The Company owns a 100% interest in Take Pictures Pte. Ltd. (“Take photos“) who produced STONE JUMP (2020) and THE BOX (2021), and will publish GUARDIAN (provisional title) in 2021 provisionally.

The Company owns a 100% interest in Greenlight Content Limited (“Green light content“) which is primarily involved in the activity of investing in fiction and films, as well as consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced fiction, MY SECRET TERRIUS, with top Korean star So Ji Sub, reached number one in drama ratings for its time slot and recorded double-digit rates for its highest ratings. Greenlight Content has been a major investor in MY SECRET TERRIUS.

The Company owns a 20% stake in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be GHOST’S WAIL ISLAND, a horror comedy.

Our films are theatrically distributed and released in Korea and overseas markets, as well as for global post-theatrical release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video on demand and home video. / DVD, etc. We release all of our movies in a big showroom, first in Korea, then in overseas and subsidiary markets.

Talent representation

The Company holds an effective 43.88% interest in Spackman Media Group Limited (“SMGL“). SMGL, a Hong Kong incorporated company, along with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the biggest names in the industry. Korean entertainment industry. SMGL operates its talent management business through reputable agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA & CO Inc . (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok Taec-yeon), SBD Entertainment Inc. (Son Suk-ku) and Kook Entertainment Co., Ltd Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors / actresses in the practice areas of film, television, business support and entertainment. branded entertainment. SMGL leverages its unrivaled portfolio of artists as a platform to develop, pro leverage, fund and own the highest quality entertainment content projects including motion pictures, variety shows and television series. This platform also creates and generates opportunities for SMGL to make strategic investments in early stage companies that can collaborate with SMGL artists. SMGL is an associated company of the Company.

The Company owns a 100% interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“Factory P“) and Platform Media Group Co., Ltd. (“PMG“), is mainly involved in overseas agency business for Korean artists venturing into overseas market. The P Factory is an innovative marketing solutions provider specializing in the production of events and content for PMG is a talent management agency that represents and manages the careers of leading branded film, television, advertising and entertainment artists.

Strategic companies

The Company owns a 100% interest in Frame Pictures Co., Ltd. (“Photo frame“). Frame Pictures is a leading cinema / drama rental company in Korea. Founded in 2014, Frame Pictures has worked with over 25

directors and supplied the camera and lighting equipment to some of Korea’s most notable drama and film projects, including ITAEWON CLASS (2020), HOW TO BUY A FRIEND (2020), KIM JI-YOUNG, born in 1982 (2019), FOUR MEN (2019) and ASADAL CHRONICLES (2019).

We also operate a coffee lounge called Upper West in Seoul’s Gangnam district and own a professional photography studio, noon pictures Co., Ltd.

For more details, visit http://www.spackmanentertainmentgroup.com/

#SpackmanEntertainmentGroup


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Jay Roberts of Prosper Group gives his opinion on the $ 340 million loan for the construction of the Legacy Miami World Center | News https://guideglobal.com/jay-roberts-of-prosper-group-gives-his-opinion-on-the-340-million-loan-for-the-construction-of-the-legacy-miami-world-center-news/ Tue, 28 Dec 2021 11:00:00 +0000 https://guideglobal.com/jay-roberts-of-prosper-group-gives-his-opinion-on-the-340-million-loan-for-the-construction-of-the-legacy-miami-world-center-news/ MIAMI, December 28, 2021 / PRNewswire-PRWeb / – Royal Palm Companies, a Miamideveloper based by Dan Kodsi got a $ 340 million construction loan New York City-based Silverstein Capital Partners for the development of the Legacy Miami World Center, a mixed-use luxury hotel and residential skyscraper to be built downtown Miami. This is the first […]]]>

MIAMI, December 28, 2021 / PRNewswire-PRWeb / – Royal Palm Companies, a Miamideveloper based by Dan Kodsi got a $ 340 million construction loan New York City-based Silverstein Capital Partners for the development of the Legacy Miami World Center, a mixed-use luxury hotel and residential skyscraper to be built downtown Miami. This is the first major construction loan in South florida for Silverstein and the third largest construction loan ever in the state of Florida according to Royal Palm Companies.

Jay roberts, founder and CEO of Prosper Group, was hired by Royal Palm Companies as a strategic advisor for the nearly half a billion dollar project in January 2021 raise capital and work closely with RPC’s management team to capitalize the nearly one million square foot tower. The team successfully closed the funding early december 2021 with Silverstein Capital Partners, promoters of the World Trade Centers in Manhattan.

Legacy, when completed, will be a 55-story, 671-foot-tall skyscraper comprised of luxury residences, a hotel, and a wellness center in the heart of the Miami World Center. The tower will include 310 residences, 219 hotel rooms and a $ 100 million, 10-story, 120,000-square-foot wellness center. Owners of condominium residences can rent their units on Airbnb, Vrbo, Expedia, and other travel OTAs to earn income when not staying in the units.

Miami World Center, a $ 4 billion, a 27-acre megaproject, is currently the largest urban core construction project in the United States and the second largest mixed-use real estate development in the country.

Accor Hotels, which operates 3,700 establishments in 100 countries, has been selected to manage the hotel and catering part of the tower.

Miamistarch-based Kobi Karp designed the luxury high rise.

Jay roberts is the founder of Prosper Group, a Floridabased development company, currently building houses in Tampa Florida and Huntsville, Alabama. Jay is a former investment banker at Bank of America Merrill Lynch in New York City and founder of a hotel startup based on Airbnb.

Media contact

Jay roberts, Prosper Group, (888) 968-7101, info@prospergroup.com

Prosper Group SOURCE


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Jackson State men’s basketball plays on the road, where the money is https://guideglobal.com/jackson-state-mens-basketball-plays-on-the-road-where-the-money-is/ Sun, 26 Dec 2021 08:00:13 +0000 https://guideglobal.com/jackson-state-mens-basketball-plays-on-the-road-where-the-money-is/ MILWAUKEE – As November turned into December, the Jackson State University men’s basketball team arrived to face Marquette in their seventh straight road game, played in the sixth different state. The Tigers had been away from their Mississippi campus for 17 of the 23 days since the start of the season. And the journey was […]]]>

MILWAUKEE – As November turned into December, the Jackson State University men’s basketball team arrived to face Marquette in their seventh straight road game, played in the sixth different state. The Tigers had been away from their Mississippi campus for 17 of the 23 days since the start of the season. And the journey was far from over.

Luckily, the Tigers met Reverend Jesse Jackson at the team hotel, where he jokingly urged them to play defense and said “don’t let your legs start shaking like you never have. played basketball before “.

It doesn’t seem like a stretch to say that Jackson was one of the few familiar faces the Tigers encountered in the first two months of the season. Jackson State travels on meager finances without even cheerleading. Only a pinch of relatives, friends and elders rooted in the Tigers against Marquette. As usual, the loudest applause came from the players themselves.

“It’s still 15 of us versus 15,000 of everyone,” said Darrian Wilson, 23, a graduate student of the guard.

It is virtually impossible for Jackson State and other historically black colleges and universities in the Southwestern Athletic Conference to draw home games against basketball powerhouses like Duke and Gonzaga and UCLA, who have little to gain in competition or financially. on the road against fewer opponents. A partnership between SWAC and the Pac-12 Conference, starting next season, will help alleviate this disparity, at least temporarily. In the meantime, SWAC has disrupted the usual funding mechanism for sport.

Most schools bolster their home budgets with ticket sales, corporate sponsorships, and concession sales. Jackson State and the rest of its conference teams are seeking additional funding on the road, traveling most or all of their non-conference games on guaranteed paydays to bolster some of the Division I’s smaller sports budgets. NCAA.

Indeed, their most prominent opponents look to praise wins, while SWAC teams ease the pain of regular losses with payouts ranging from $ 60,000 to over $ 100,000 per game.

Marquette has offered Jackson State more than a snippet of polka music, a chance to play against a perennial NCAA tournament team, a national television audience, and land he shares with NBA champion Milwaukee Bucks. According to Jackson State coach Wayne Brent and Marquette officials, it also disbursed about $ 150,000, which included funds to pay for flight and accommodation costs for the Tigers.

In addition to studying and playing for their teams, SWAC basketball players have the added responsibility of fundraising. Brent, his staff and his team seem clear-headed and pragmatic about these complicated roles.

An extended trip can be an adventure and a bonding experience. SWAC’s Texas Southern has won two NCAA tournament games and earlier this month defeated then-ranked Florida. But travel can also be a physical, mental and academic chore. In 2019, another SWAC team, Mississippi Valley State, lost to Utah by 94 points – the biggest defeat margin ever recorded in a Division I game.

“It’s necessary to generate income,” said Cason Burk, 33, an associate head coach of Jackson State and a former player there who manages the planning for the team, of the trip. “I think the negatives outweigh the positives. But it must be done. As a player, you have to see it as a badge of honor. I’m doing this for a bigger situation than me.

Jackson State’s last non-conference road game, against Stephen F. Austin on December 21, was called off due to the coronavirus, but its home opener Wednesday against Southeastern Baptist College was still on the schedule. The Tigers (2-9) have traveled to play 11 so-called “guarantee games” – over a third of the regular season. The extended road trip through November and most of December contributed about $ 800,000 to Jackson State’s general sports fund, Brent said. This would represent about a tenth of the school’s sports income, according to the latest figures available.

A USA Today Database For fiscal year 2019-20, Jackson State’s sports revenue was $ 8,300,756, which ranked 223rd out of 230 Division I public universities and was practically rounding off the 391,769 $ 609 in income from the University of Oregon.

Charles McClelland, the SWAC commissioner, said it is frequently and incorrectly stated that “guarantee games” are necessary for the survival of basketball and other sports in conference schools. “We don’t sell our souls to the devil to have a track and field program,” McClelland said.

In fact, the SWAC regularly leads the division of the soccer championship in terms of participation in soccer. But during the 2019-20 basketball season, the league averaged less than 1,600 spectators per game at home, which placed it 29th out of 32 Division I conferences. McClelland said he made more financial sense to travel for “guarantee matches” early in the season than to lose money playing at home.

Brent said without additional funds his players likely wouldn’t have the equipment regularly available for Division I teams; more flights and less bus rides and comfortable hotel stays. Take the money away, he said, the Tigers would “stay in a hotel for $ 70 a night” and eat at McDonald’s.

“I don’t want McDonald’s,” said Professor Brent, 54, who is in his ninth season at Jackson State, wears bow ties in games and has a master’s degree in human health and performance. “And the kids don’t want it.”

He reminds his players that they are better off than “kids at home without a purse who wish they could play in the Bucks arena on CBS.” And they always have a chance to catch the attention of a professional recruiter who has come to watch the other team. “It only takes one guy to see you,” Brent said.

This season, two of the Tigers’ freshmen and a student coach made their first flights. Games against schools with rich traditions like Marquette and five-time NCAA champion Indiana offered wide exposure in first-class arenas in front of large TV audiences, while also providing a chance to compete against highly-recruited players. in opposing teams.

Dyllan Taylor, 22, a graduate guard, keeps a photo on his smartphone of himself driving for a layup against Indiana in November. “It’s a picture that you will frame,” he said, convinced that he “can play with anyone, no matter what school”.

But compromise can be a drain on the body, morale, and confidence. Flights to and from Jackson require connections through Dallas or Atlanta. On the season-opening trip to the University of Illinois, a late airline schedule change forced the Jackson State players to go their separate ways on two different flights that landed in separate cities. The trip lasted 14 hours. The Tigers played the next night and then woke up at 3:30 am the next morning to catch another flight.

“Each game seems to last for three days,” said Wilson, the goalkeeper.

Constant travel during the first third of the season added urgency to every situation, from preventing nut allergies in hotel desserts to ensuring that all four players who were not vaccinated against the coronavirus were tested every 72 hours. . It was difficult to practice regularly. Goalkeeper / striker Chris Freeman, 23, struggled to recover from knee surgery. Chance Moore, 23, a caretaker, had two young children in Jackson who wanted to know when he would be home.

“Being far away is difficult,” he said.

On November 30, the Tigers were tied with Marquette at halftime, only to wither against a press and ultimately lose by 29 points.

“You ran out of gas,” Brent told his team.

On December 1, the players met for breakfast and then had a mandatory study room in the afternoon.

“Two hours, nobody leaves the room,” Fredrick Hadley, Jackson State academic advisor, told players.

Crunch Week, he called it. A three-day road game at Illinois State was to be followed by a drive home for the final exams.

Five Jackson State players are graduate students. Another, goalkeeper Jonas James III, 23, was due to graduate on December 10. Assuming the team would be on the road, he hadn’t ordered his cap and dress. But he realized during the study hall that the team weren’t leaving on their next non-conference road trip until the 11th.

“It would make a lovely photo, you walking through the airport with your cap and dress on to catch a flight,” Hadley said.

Later that day, the Tigers took a break, visited a mall, and watched a Bucks game against the Charlotte Hornets. On December 2, the team departed Milwaukee for a four-hour bus ride to the state of Illinois. A team meeting followed the next morning. Fatigue was evident in the yawns in the conference room.

“I missed November,” Brent said while watching an Illinois state video over breakfast. “I don’t know where he went. I was there for Thanksgiving, but I wasn’t.

During a second study room, Ken Evans Jr., 20, a caretaker, grabbed his iPad and folded his 6-foot-5 frame under the plinth of a table of water pitchers, looking for the privacy to work on a management project. Only his sneakers protruded.

“I can’t have any distractions,” he said.

On the afternoon of December 4, Jackson State arrived at the Illinois State Redbird Arena in a good mood. The next morning, they returned home for six days for final exams. “It will be like Christmas,” Moore said. “I’m going to wake up happy as hell.”

Parents of first-year guard Coltie Young had driven nine hours from Starkville, Mississippi, to support their son and his teammates. Jackson State’s game plan was similar to that against Marquette. Preserves tired legs. Play Stifling Defense. Keep scoring in the 60s, or the low 70s. This time the plan worked. The Tigers held Illinois State nearly 30 points below their average score and won 61-55.

As the players celebrated in a cramped locker room, Brent told them, “There is no better victory than winning a guaranteed game on the road.”

A three-game barnstorming tour of Iowa awaited him, but, first, six rare and glorious days at home awaited. The team bus was supposed to leave the hotel at 4 a.m., but Taylor, the graduate guard, joked that it might not be necessary.

“We’re going to run to the airport,” he said.


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