Tag Archives: elder

UNLV Engineering Trainees Show Off Item Prototypes at Elder Style Competition

On May 3, UNLV Howard R. Hughes undergraduate engineering trainees will contend for $20,000 in rewards during the 17th annual Fred and Harriet Cox Senior Citizen Style Competitors. Forty-one groups of trainees from all engineering disciplines, consisting of mechanical, civil, environmental, electrical, entertainment and computer science, will showcase their prototypes and have their projects evaluated by a panel of local and nationwide market specialists. The projects will be on show and tell from 8 a.m. to 6 p.m. on the very first floor of the Thomas & & Mack Center on the campus of UNLV.

A capstone to every engineering trainee’s academic career at UNLV, the senior design task motivates students to utilize everything they have actually discovered in their program to plan, style and produce an useful, real-world option to an engineering or computer technology obstacle.

” Most engineering schools have a culminating engineering task for undergraduates,” stated Rama Venkat, Dean of the Howard R. Hughes College of Engineering. “However, most of those competitions are composed plans on paper. Several years ago we decided to provide our trainees practical experience by having them not simply plan a model, but in fact develop it and present it to a body of industry experts for examination.”

This semester’s tasks include:

The Turbinator, a portable, easily constructible wind turbine for power generation following natural catastrophes and power blackouts
Fluffy Mates, a mobile app that will permit individuals to browse all animal shelters simultaneously for their next fluffy relative.
FireHUD, a hands-free thermal imaging camera with universal helmet style for very first responders.
Vertical Vegas, turning the Fountainebleau structure into a vertical farming development.

UNLV’s Senior Design is judged by regional and nationwide market professionals who invest a full day assessing the groups’ models. Winners are acknowledged at the awards dinner taking place Friday, May Fourth, from 5:30 -10 pm in the Cox Pavilion. This year the supper is including stand-up comedian and Stanford University Electrical Engineering M.S. graduate, Don McMillan, who will bring his own brand name of technology-based funny–” Technically Funny”– to the event. This year’s keynote speaker will be finishing engineering

trainee, Darius Jackson. Jackson is a double major, receiving a bachelor’s of science in mechanical engineering and a bachelor’s of arts in computer technology. A first-generation college student, he has likewise gotten several scholarships and held leadership roles in several UNLV trainee associations consisting of President of Tau Beta Phi, engineering’s honor society, and the National Society of Black Engineers (NSBE). For more information on the Fred and Harriet Cox Elder Design Competition and

Awards Supper, visit unlv.edu/engineering/senior-design.

Elder Health Care Operators and Home Owners Pursue Property Sell-Offs, Lease Restructurings in Uncertain Healthcare Environment

Welltower, Sabra Healthcare, HCP Selling Numerous Facilities Rented and Operated by Genesis Health Care, Brookdale Elder Living

As senior care facility operators Genesis Health care Inc.(NYSE: GEN)and Brookdale Senior Living Inc.(NYSE: BKD) grapple with the fallout from the ongoing changes in the health care economy, they continue to push for lease restructurings with the healthcare REITs that have actually pertained to own their centers.

Welltower Inc. (NYSE: HCN )and Sabra Health Care REIT (NASDAQ: SBRA)are in that procedure with Genesis Healthcare and HCP Inc.(NYSE: HCP)is reorganizing its Brookdale holdings. Recently, Genesis Healthcare exposed in a regulatory filing that if it is not successful in renegotiating leases with Welltower, Sabra and its lenders, the business may need to apply for Chapter 11 personal bankruptcy reorganization. “Our outcomes of operations have been adversely impacted by the relentless pressure of healthcare reforms enacted in recent years,” Genesis said in its filing.”This difficult operating environment has actually been most acute in our inpatient segment, however also has actually had a destructive impact on our rehab therapy segment and its clients.”Genesis declares its has actually executed a number of cost-mitigation strategies to balance out

the negative financial implications of the new health care operating environment. Nevertheless, the unfavorable effect of ongoing decreases in skilled patient admissions, shortening lengths of stay, intensifying wage inflation and professional liability losses, combined with the increased cost of capital through escalating lease payments, have combined to develop something of a best storm for the operator in the third quarter of 2017, which have actually put the company into noncompliance with certain loan and lease covenants.”In case of a failure to get required and prompt waivers or otherwise accomplish the set charge decreases consisted of in the restructuring plans, we might be required to seek reorganization under the United States Bankruptcy Code, “the business stated. The ongoing restructuring strategies Genesis was describing include the proposed sale by Sabra and Welltower of certain

facilities presently leased to the company, which Genesis then means to re-lease from new third-party proprietors at decreased leas. Genesis also said it will make commercially sensible efforts to refinance or repay through asset sales, certain of its debt obligations

with Welltower which, upon conclusion, is expected to lead to a decrease in interest costs. Through these efforts Genesis wants to conserve $80 million and$100 million each year. Shankh Mitra, senior vice president financing and investments for Welltower, stated:”It is obvious that ability mix and occupancy have been materially impacted by the development of

repayment model over last few years. However, we are really encouraged by the consecutive stabilization of EBITDAR in a bulk of our Genesis portfolio. We are positive that Genesis will be a winner in the brand-new value-driven landscape due to the fact that of its superior scientific capabilities. We and other Genesis-graded celebrations understand the present capital structure is suboptimal.” Welltower’s disposition program will provide substantial deleveraging for Genesis, Mitra stated, adding that Welltower has determined a purchaser however could not comment even more. Meanwhile, Brookdale Senior citizen Living Inc. announced that it has actually participated in a conclusive agreement with HCP for a multi-part transaction involving lease terminations and home sales. The lease terminations consist of triple-net leases on 34 communities(3,170 units).

Brookdale will get two of those communities( 208 systems). Brookdale’s remaining triple-net lease portfolio with HCP will be combined into one master lease. HCP will also get Brookdale’s

10% equity ownership in 2 existing joint endeavors for which Brookdale supplies management services to 59 neighborhoods (9,585 systems). Brookdale will acquire 4 of the neighborhoods( 787 units), will keep management of 18 of such neighborhoods(3,276 systems) with extension

of the term to 2030, and will end management of 37 of such neighborhoods(5,522 systems ).”As an outcome of these deals, we will have increased versatility and certainty when examining and participating in deals to understand the worth of our portfolio, “said Andy Smith, Brookdale’s president and CEO.”This announcement is a by-product of both our ongoing tactical review process and our portfolio optimization initiative.

We continue to check out actively the full series of choices and options to simplify our business, enhance our portfolio and produce and improve shareholder worth.” For the third quarter ended Sept. 30, Brookdale reported a GAAP bottom line of $413.9 million for the third quarter of 2017 compared with $51.7 million for the 3rd quarter of 2016 For its part, HCP said it means to either transition to other operators or offer its 68 other Brookdale residential or commercial properties during 2018. The anticipated sales are anticipated to produce$600 million to$900 million of net earnings to HCP depending upon the mix of property sales versus shifts to new operators.” This is a win-win for Brookdale and HCP, and we value quite the collective method this

arrangement has actually come together, “said Tom Herzog, president and CEO of HCP.” Decreasing our Brookdale concentration has been among our greatest concerns in 2017, and these arrangements enable us to do that in a structured and cooperative manner.”

CoStar'' s People of Note (Week of May 26) Tanger Promotes 2 from Elder Management Team

The following business revealed personnel relocations today: Tanger Outlets, Hoffmann Commercial, Phillips Edison & & Co., ICSC, Walker & Dunlop, KPMG, Douglaston Advancement, Fried Frank, MB Realty, Faulkner Design, IPA, NAI Partners, Trammell Crow, JLL, Greystone Advancement,

HFF, Duke Realty and Cushman & Wakefield/ Thalhimer. It’s time to upgrade those contact managers with CoStar’s Individuals of Note, reporting news on significant brand-new CRE works with and promotions. This week’s problem consists of the following markets: North Carolina, St. Louis, Dallas/ Ft. Worth, Washington DC, Orlando, New York City, Chicago, Ohio, Houston, Southern California, Baltimore, South Florida and Richmond/ Hampton Roads.

Tanger Factory Outlet Centers Names New President By CoStar News Staff

Concluding a busy week for the NC-based owner and operator of outlet centers, Tanger has promoted 2 members of its senior management team.

The factory outlet center REIT has raised EVP and COO Thomas E. McDonough (pictured, right) to president, handing him control of the company’s everyday operations while he continues to support previous president Steven B. Tanger, who stays CEO. Prior to joining Tanger in August 2010, McDonough held different positions with Trammell Crow Co., Equity One and Regency Centers.

Tanger likewise promoted Thomas J. Guerrieri Jr. to vice president, primary accounting officer and company controller. He will report to Jim Williams, senior vice president and chief monetary officer.CoStar’s People

of Note is published each Friday covering the current commercial real estate executive level promos and new hires.Click on the headline of each article to leap
to complete coverage.Follow the news on Twitter @TheCoStarGroup and
@JSumner2. Send new executive hires and promotionannouncements to [email protected]!.?.!. ST. LOUIS Hoffmann Commercial Property Names New CEO By Justin Sumner

Hoffmann Commercial Property, a department of Osprey Capital, has actually tapped Greg Hoffmann as president of the business. Based in the firm’s Clayton, MO workplace, Hoffmann formerly acted as principal, leading the business’s growths into Naples, FL and Beaver Creek, CO and seeing it expand almost five-fold under his instructions.

Hoffmann furthermore rests on the board of directors for all Osprey Capital’s numerous holdings and serves on its strategy and investment committees, leading ‘First Look’ financial investment opportunities and realty acquisitions for the company.

Phillips Edison &
Co. Names Expenses Regional VP

By Justin Sumner & Phillips Edison & Co. included market veteran K.C. Expenses to oversee the firm’s western region homes as a regional vice president in its Dallas, TX workplace. Costs most just recently served as vice president of financial investments within the company’s Dallas/ Ft. Worth business unit, supervising more than $640 million in mixed-use and retail assets including the 900,000-square-foot Park District office development in Uptown and retail advancement and leasing at Knox Heights, M-Line Tower and Lake Highlands Town Center.

Acadia CEO Ken Bernstein Named ICSC Chairman
, Valerie Richardson Elected Vice-Chairman By CoStar News Staff
Walker & Dunlop Names Butler
Handling Director By Daniel Koenigs

Jamie Butler has actually signed up with Walker & Dunlop as managing director of the business’s capital markets group. Focusing on the Mid-Atlantic region, Butler will source equity and debt for development projects in addition to stabilized assets across all home sectors.

Previously, Butler worked as a senior vice president within the capital markets group at CBRE, organizing equity, mezzanine and senior debt. Prior to that he was a vice president with the capital markets group at Cushman & & Wakefield. Butler has actually organized industrial funding amounting to more than $10 billion throughout his career.


KPMG Taps Flemming

as Building and construction Supervisor By Justin Sumner After beginning on its prepared $ 400 million campus this month, national audit, tax, advisory and professional services firm KPMG has actually hired market veteran Costs Flemming as a handling director of building and construction management, tasked with leading development of its brand-new Lake Nona, FL center.

Flemming most recently functioned as president and CEO, and prior to that COO and senior vice president of preconstruction, for New York-based Skanska U.S.A Building, Inc. He holds an MBA from Golden Gate University and a bachelor’s in construction management and architectural engineering innovation from the University of Cincinnati.

New York City CITY

Dzbanek Signs up with DouglastonDevelopment By Steven Krakosky Allen Dzbanek has joined Douglaston Development as a senior vice president of design and construction in the company’s New York City office. Dzbanek will enhance the company’s capability to supply housing for citizens of all earnings levels throughout the five districts.

Dzbanek was previously at Rockrose Development Corp. for the previous eight years, where he was charged with establishing the building and design department in addition to the implementation and conclusion of business tasks. His career has likewise consisted of stints with the Park Tower Group and Hudson Waterfront Associates.


Parrott Lands at Fried

Frank By Andrea Quach Matthew Parrott joined law firm Fried Frank as a partner in its realty litigation department in New york city. In his new function, Parrott will represent business clients on civil matters that consist of breach of contract conflicts, partnership problems, securities law claims, RICO actions and deceptive transfer.

Prior to Fried Frank, Parrott was partner and head of the New York realty litigation group at law firm Katten Muchin Rosenman.


MB Real Estate Elevates Flynn to CFO By
Mary-Sean Wilcox Eileen Flynn has been promoted to CFO at MB Property in Chicago. Flynn will be responsible for financial operations of all third-party managed possessions, including commercial workplace, healthcare and government homes.

Flynn is the senior vice president and handling director of accounting services and corporate for MBRE. The 18-year veteran of the firm was also recently appointed to MBRE’s executive committee.

Faulkner Style Group Promotes
Duncum to COO ByGreg Charlton Dallas-based interior architecture and style firm Faulkner Design Group (FDG) has promoted Michelle Duncum to COO. She will handle the business’s day-to-day operations and support the business’s development efforts.

Duncum signed up with FDG in 2013 as vice president of client services and public relations. Prior to joining FDG, the 25-year market veteran worked as an asset manager and executive director at Glenbrook Residential and Brothers Property Corp.

Marcus & Millichap Forms IPA Midwest-Multifamily, Taps Barron, Burkons, Wintermute to Lead Practice
By Melanie Woolley
HOUSTON NAI Promotes Four Property Supervisors By James Saris NAI Partners has actually promoted four members
of its property owner

services department: Sandy Crego, Anne Crocker and Erin Crowe to senior residential or commercial property supervisor and Samantha Doty to assistant home supervisor. BALTIMORE JLL Appoints Morehead to VP By Samantha Darrah JLL employed Michael Morehead as
vice president, bringing 12 years of building and construction and job management experience to focus on industrial possessions for JLL and lead the Mid-Atlantic industrial job and advancement services team. SOUTHERN CALIFORNIA TCR Promotes Ballow to Advancement VP By CoStar News Personnel Trammell Crow Residential promoted Jason Ballow to
vice president of development, accountable for the entitlement, advancement and construction of the company’s multifamily homes throughout Southern California. New York City CITY Greystone Includes Rufrano as Director By Justin Sumner Greystone Advancement has actually worked with Tiffany Rufrano as a director of asset management in the firm

‘s New york city City headquarters to manage the company’s nationwide portfolio of multifamily and mixed-use homes.
HFF Carolinas Hires Hill

By Dillan Shifflett HFF has actually launched a retail investment sales team in the Carolinas and hired Ted Hill to co-head the platform together with recent hire Tom Kolarczyk. Hill was previously a vice president with Vision Ventures.

SOUTH FLORIDA Newberry Signs up with Duke Realty By Justin Sumner Duke Real estate Corporation has employed Chelsea Newberry as a leasing
agent in

the company’s South Florida office, accountable for leaseup of Duke Realty’s 5.9 million-square-foot South Florida commercial portfolio. RICHMOND/ HAMPTON ROADS Hoade Joins Thalhimer Office Group By Bryce Meyers Cushman & Wakefield Thalhimer has actually employed John P.’Jack’Hoade to focus on workplace leasing and sales
as a business sales and leasing partner in the firm’s Richmond, VA workplace. Follow the news on Twitter @TheCoStarGroup and @JSumner2.

Take a look at recently’s edition of Individuals of Note.