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Archive for August, 2005

National Arbitration Forum Issues Decision on AARP Web Address

Wednesday, August 31st, 2005

A National Arbitration Forum arbitrator rules in favor of AARP regarding the Internet domain name aarppharmacyservices.com MINNEAPOLIS, MINN. (PRWEB) August 31, 2005 — The National Arbitration Forum announced today that a ruling has been issued in favor of AARP, a leading non-profit organization for individuals over fifty, regarding rights to the Internet domain name aarppharmacyservices.com.AARP, represented by Melise R. Blakeslee of McDermott, Will, & Emery LLP, filed a complaint electronically with the National Arbitration Forum on July 12, 2005, asserting legal rights to the Web address bearing close resemblance to aarppharmacy.com.Ruling in AARP’s favor, National Arbitration Forum arbitrator Sandra Franklin found that the other party, domains Ventures, registered the domain name aarppharmacyservices.com on October 18, 2003. The AARP trademark has been registered with the United States Patent and Trademark Office since 1962. The disputed domain name resolves to a website featuring links that contain AARP’s mark, as well as links to various competing and non-competing commercial websites for which domains Ventures was presumably receiving referral fees.The arbitrator found that domains Ventures did not have legitimate rights to, or interest in, the disputed Web address, and that the Web address was confusingly similar to AARP’s trademark. The arbitrator also found that domain Ventures was using the address in bad faith by presumably profiting from the use of the domain name. Under the Uniform Domain Name Dispute Resolution Policy (UDRP) of the Internet Corporation for Assigned Names and Numbers (ICANN), the disputed domain name will be transferred to AARP within ten business days unless domains Ventures commences a lawsuit contesting the decision.AARP’s Internet domain dispute is one of thousands heard each year by the National Arbitration Forum. The domain name dispute process is a popular alternative to lengthy and expensive trademark lawsuits.A copy of the decision, AARP v. domains Ventures, is available for viewing on the National Arbitration Forum Web site at: http://www.arb-forum.com/domains/decisions/514786.htm.About the National Arbitration ForumThe National Arbitration Forum is one of the world’s leading providers of alternative dispute resolution solutions, including arbitration and mediation, representing a distinguished panel of over 1,500 attorneys and retired judges in the U.S. and in 29 countries. Founded in 1986, the National Arbitration Forum administers more than 50,000 cases annually. Headquartered in Minneapolis, Minnesota, the National Arbitration Forum also has offices located in New Jersey and Los Angeles. Additional information is available at the National Arbitration Forum’s Web site at www.arbitration-forum.com.# # #

Commercial Real Estate Investment Bank Overviews How to Choose a Capital Provider and Navigate Commercial Capital Markets

Tuesday, August 23rd, 2005

Beaverton, OR, August 23, 2005 http://www.pacificsecuritycapital.com — Pacific Security Capital (“PSC”), a leading commercial real estate investment bank, headquartered in Beaverton, Oregon, explains how to best navigate the commercial capital market to choose a capital provider.Financing a commercial real estate transaction is no longer a simple matter. Now, there are many considerations that must be evaluated when selecting a capital provider.Mike Myatt, executive managing director with Pacific Security Capital, explains that “in order to increase project velocity, improve operating efficiency, conserve internal capital, increase leverage and lower the overall cost of capital, it is essential that a sponsor develop an integrated capital formation strategy surrounding acquisition/refinance/development initiatives.”Among the many things those commercial real estate borrowers in today’s marketplace need to address when seeking capital are:- The selection of the appropriate capital provider;- Level(s) of the capital structure to be addressed;- Operating considerations;- Control provisions;- Rate, term, pricing and structure;- Closing time frame;- Third party requirements;- Certainty of execution;- Recourse provisions;- Exit and pre-payment options;- Inter-creditor or other multi-party agreements;- Post closing servicing issues;- The effect of the capital acquired on tax, balance sheet, future projects or portfolio considerations, and;- A whole host of other value-added considerations.The first thing that borrowers must understand is that all capital providers are not created equal. There is a definite hierarchy within the world of capital providers and understanding the value-ads offered by different capital providers is important in choosing a relationship.Myatt adds that “while many borrowers believe financing to simply be a commoditized offering, the selection of a capital provider, should take into account far more than rate and term considerations. In choosing a capital provider, the goal of any borrower should be to develop a close relationship with the firm that can provide not only the broadest access to capital, but more importantly a firm that offers best-in-class subject matter expertise, certainty of execution and as many value-added benefits and services as possible. Capital providers can most easily be broken-down into three groups:Direct Lenders – Those that lend their own funds- Commercial real estate investment banks- International, national, regional and local banks- Life Insurance Companies- Agencies (Fannie, Freddie, FHA)- Pension Plans- Real Estate Investment Trusts (REIT)- Mutual Funds, Hedge Funds, Opportunity Funds- Credit Companies- Private LendersIndirect Lenders – Those that place funds on behalf of others- Financial Intermediaries- Investment Advisors- Syndicators- Mortgage Bankers- Mortgage BrokersHybrid Lenders – Those that do both of the above- Certain Investment Banks- Certain Investment Advisors- Certain Banks- Certain Credit Companies- Certain Financial IntermediariesOnce a borrower has selected the appropriate capital provider, it is essential that the capital provider be engaged as early on, and at as high a level as possible. Experienced sponsors realize the benefit of getting their capital provider involved early on in the planning process. Waiting too long to involve your lender will typically lead to a project built with less leverage and at a higher cost of funds. By including your capital provider in the beginning of the project planning process you will end-up with a project plan that is built around optimizing capital formation leading to greater project profitability.Effectively utilizing the entire capital structure, to maximize leverage while achieving the lowest blended cost of funds and isolating risk, is essential to the creation of a solid capital formation strategy. In general, the farther you move up the leverage curve utilizing more leverage in the senior position the lower the overall cost of funds will be. Conversely, the deeper you move down the capital stack utilizing mezzanine or equity instruments the more expensive the cost of capital.Selecting the appropriate capital provider and engaging them properly will aid in the streamlining of the borrowing process. If borrowers will focus on capital formation as a priority at the early stages of project planning the likelihood of increasing profits in a risk managed environment is high.About Pacific Security Capital Pacific Security Capital is a leading commercial real estate investment bank providing commercial real estate loans, structured finance, investment sales and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication and acquisition services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North American and Europe. More information about the company can be found at www.PacificSecurityCapital.com# # #

Commercial Loans Expert Explains Why CMBS Loans Make Sense for Borrowers

Thursday, August 18th, 2005

Beaverton, OR, August 18, 2005 — http://www.pacificsecuritycapital.com — Pacific Security Capital (“PSC”), a leading commercial real estate investment bank, headquartered in Beaverton, Oregon, explains why Commercial Mortgage Backed Securities (CMBS) loans make sense for commercial real estate borrowers.Mike Myatt, executive managing director with Pacific Security Capital, provides his insight: “It has been our experience that many commercial borrowers tend to shy away from the CMBS markets due to what amounts to a general lack of understanding of the conduit world.”Without a doubt, conduit financing provides the best pricing available in the market for permanent loans and also affords the borrower the ability to climb the leverage curve in an aggressive fashion.There is also a misconception that CMBS financing involves a higher degree of complexity and therefore is more difficult to work through the closing process. Pacific Security Capital closes transactions in the agency, life company and CMBS world, and of the three, Pacific Security Capital believes there is more certainty of execution with less complexity in the conduit financing world than either of the other two arenas.Myatt adds that “the only real issue that could surface as a complicating factor is dealing with operating issues that run afoul of loan covenants, post securitization, as dealing with the sub-servicer or master-servicer can at times provide some difficulty. However, the key to navigating the CMBS world is in understanding the process going in, so that you can create the proper loan structure and manage your transactional risk.”About Pacific Security Capital Pacific Security Capital is a leading commercial real estate investment bank providing commercial real estate loans, structured finance, investment sales, development and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication and acquisition services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North American and Europe. More information about the company can be found at www.PacificSecurityCapital.com

Evolving Solutions Awarded Platinum Novell Partnership Status—Positions to Meet Growing LINUX Open Source Needs

Thursday, August 18th, 2005

Minneapolis, MN, August 18, 2005 — http://www.evolvingsol.com – Evolving Solutions, a MN-based data on-demand and storage virtualization expert, today announced how recent confirmation of Novell Platinum partnership will aid in meeting client’s open source needs.According to leading technology analyst, Gartner, Linux will have the strongest relative growth of any server operating system during the next five years. Shipments will increase from 1.4 million units this year to 2.4 million in 2010. Revenue will grow from $6.5 billion to $11.5 billion in that period, for compound annual growth of 12.2 percent.”Evolving Solutions is seeing astounding growth in inquires from companies of every size and across every industry, for Linux as an alternative to more costly and non-secured Microsoft windows environments,” said Jaime Gmach, Evolving Solutions CEO. “In response to this growing need, Evolving Solutions is proud to announce our recently confirmed Novell Platinum Partnership.”Novell Platinum partnership requires SUSE LINUX expertise and a demonstrated understanding of the benefits of how Novell identity services can manage, secure mixed network environments.Evolving Solutions demonstrates expertise in the complete architecture of, and migration to a LINUX environment. The company provides the hardware, software and services necessary for clients running existing UNIX systems or Microsoft applications to complete a Linux migration.Novell is interested in working with Evolving Solutions to develop opportunities such as server consolidations, UNIX migrations and Linux management services.”We are pleased to confirm Novell Platinum Partnership with Evolving Solutions,” said Mark Hardardt, VP & GM WW Partners & Channels, Novell, Inc. “The company’s open source insight and knowledge of how Linux works on the IBM Blade Center will benefit numerous customers.”Evolving Solutions plans to immediately educate clients how Linux deployment on an IBM Blade Center can successfully reduce a company’s operating expenses and bring their network into an open source environment.About Evolving SolutionsProud to have been recently named a CRN Magazine Fast Growth 100 Company, Evolving Solutions is an open systems technology integration firm that provides business solutions for Data On Demand, Storage Consolidation, Server Virtualization, Storage Virtualization, Business Continuity and Disaster Recovery. Evolving Solutions is an IBM Premier Business Partner with a TotalStorage™ Solution Center (TSSC) onsite.For more information about Evolving Solutions, call 800-294-4362 or visit their website at www.evolvingsol.com.# # #

Pacific Security Capital Expands Investment Sales Practice

Wednesday, August 10th, 2005

Commercial real estate investment banking firm, Pacific Security Capital, continues its rapid company growth with the expansion of its Investment Sales practice.Beaverton, OR, August 11 2005 — Pacific Security Capital (“PSC”), http://www.pacificsecuritycapital.com, a leading commercial real estate investment bank, is continuing to rapidly grow with the expansion of its investment sales practice.Pacific Security Capital, which has recently recruited two new brokers, Stacey Valentic (formerly Bartel) and James Loennig, is aggressively expanding its investment sales presence worldwide.“While current market conditions are clearly favorable to those looking to dispose of assets,” said Mike Myatt, Executive Managing Director of Pacific Security Capital, “there is no shortage of solid investment opportunities for those who are properly advised and represented in the identification, structuring and acquisition of investment grade commercial real estate.”Pacific Security Capital provides a full offering of investment sales services to its clients:* Acquisition Services* Disposition Services* Capital Markets Services* Professional ServicesPacific Security Capital attributes its investment sales success and expansion to the high caliber of its investment brokers and their ability to offer customers a vertically integrated services approach to investment grade asset representation.“As a vertically integrated commercial real estate investment bank, Pacific Security Capital has a clear advantage over traditional retail brokerage firms,” said Myatt. “This is why we are able to recruit quality industry experts, such as Valentic and Loennig.”Valentic joins Pacific Security Capital from CB Richard Ellis, where she was a top performing broker specializing in multi-family properties. Loennig, a 20-year office sales and leasing veteran with more than 1,000 transactions completed during his career, previously held positions at Norris and Stevens and Norris, Beggs and Simpson.To learn more about Pacific Security Capital’s investment sales practice, please visit www.PacificSecurityCapital.com or call 1-800-844-6085.About Pacific Security Capital Pacific Security Capital is a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication, investment sales and development services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North America and Europe. More information about the company can be found at www.PacificSecurityCapital.com.# # #

Commercial Real Estate Investment Bank – Pacific Security Capital – Appoints James R. Kean as Managing Director Chief Investment Officer

Wednesday, August 3rd, 2005

Commercial real estate lender, Pacific Security Capital, continues to expand its capital markets and investment practice by hiring new Managing Director Chief Investment Officer.Beaverton, OR, August 4th, 2005 http://www.pacificsecuritycapital.com – Pacific Security Capital (“PSC”), a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services, announced today that it is continuing to expand its capital markets and investment practice by hiring James R. Kean as its Managing Director and Chief Investment Officer.Kean, who has extensive experience in capital formation and investment analysis, graduated with a B.A. in international business from Lewis and Clark College and received his MBA from the Tuck School at Dartmouth. Prior to joining Pacific Security Capital, Kean held a variety of principal, executive level and senior finance positions for companies such as Salomon Brothers, Alloy Ventures, Weyerhaeuser, and WebMD.”We are very pleased to have acquired the services of such a well respected capital markets and investment professional,” said Mike Myatt, Executive Managing Director of Pacific Security Capital. “In addition to managing principal initiatives and balance sheet investments, James will also support the investment goals of our institutional clients.”Pacific Security Capital’s capital markets and investment practice is growing at a very rapid pace, which can be attributed to the company’s international platform and vertically integrated solutions.”In today’s competitive market, we can only continue to maintain our leadership position in the commercial real estate industry by recruiting best of breed talent like James Kean,” said Myatt.To learn more about Pacific Security Capital’s commercial real estate loans or its preferred borrower program, PacificElite(TM) please visit www.PacificSecurityCapital.com or call 1-800-844-6085.About Pacific Security Capital Pacific Security Capital is a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication, investment sales and development services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North America and Europe. More information about the company can be found at www.PacificSecurityCapital.com.###

Minco Shares Secrets to Optimize Thermal Component Supplier Relationships – Conducts Educational Webcast with Machine Design

Monday, August 1st, 2005

Register for the September 21st, 2pm ET, Webcast “Five critical tips on how to avoid design constraints and get the most out of your thermal component supplier” sponsored by Minco and Machine Design magazine athttp://www.machinedesign.com/md/mincoMinneapolis, MN, August 1, 2005 -– Minco, (www.Minco.com) a designer and manufacturer of critical components for critical thermal applications, today announced that, in response to growing client desire to foster strong relationships with Minco as a premier thermal component supplier, it will partner with Machine Design Magazine to conduct a one-hour educational Webcast.The Webcast, scheduled for 1 p.m. Central/2 p.m. Eastern on September 21 is entitled, “Five critical tips on how to avoid design constraints and get the most out of your thermal component supplier”. Registrations are taking place at: http://www.machinedesign.com/md/minco“For the OEM design engineer, there is no crystal ball foretelling thermal design challenges that may develop into project delays and added costs,” said Brian Williams, Minco Marketing Manager. “The goal of our ‘Five Critical Tips’ Webcast is to bring design and manufacture best practices, developed through years of hands-on Minco experience, to engineers in order to help them avoid redesign mid-development.”The Webcast emphasizes five critical tips designed to help engineers avoid design constraints and achieve greater efficiency. Three case studies of Medical Instrument, Phone Cell, and Auto Fuel Cell applications will be presented in order to illustrate the power of collaboration, either directly or indirectly, with a thermal component supplier.Webcast tips will encourage thermal engineers to evaluate the effectiveness of installation scope, operation and storage environmental conditions as well as opportunities for component integration.”Webcasts can be valuable sources of tutorial information for our readers,” said Lee Teschler, Executive Editor of Machine Design. “Readers can sit at their desks and get the benefit of insights from experts without having to travel or to take an inordinate amount of time out of their day. That’s why we encourage our readers to sit in on events like this one”.About MincoMinco designs, manufactures and markets critical components for critical applications. The company is unsurpassed in its ability to integrate and assemble flexible Thermofoil™ Heaters, Flex Circuits, Sensors and Instruments into a single component for greater efficiency. Minco helps companies minimize the risk of product failure by providing highly reliable components and expert design services.Register today at http://www.machinedesign.com/md/minco

Commercial Real Estate Loans and the Impact of Rising Interest Rates on Commercial Real Estate

Monday, August 1st, 2005

Pacific Security Capital, a leading commercial real estate investment bank, addresses the impact of rising interest rates on commercial real estate loans.Beaverton, OR, August 1, 2005 http://www.pacificsecuritycapital.com — Pacific Security Capital (“PSC”), a leading commercial real estate investment bank, headquartered in Beaverton, Oregon, addresses the impact rising interest rates could have on commercial real estate loans and the commercial real estate market overall.There has been no shortage of conversation surrounding the topic of rising interest rates in the commercial capital markets over the last two years. Mike Myatt, Executive Managing Director of Pacific Security Capital explains that “the reason for all the column fodder is that interest rate movement has a direct impact on the state of capital markets supply and pricing and can have a very real impact on the overall commercial real estate market.”As a baseline for a deeper analysis it is useful to have a macro-economic understanding of what happens to property level supply and demand drivers and the resultant impact on Net Operating Income (NOI) in a rising interest rate environment. As a general economic principal when interest rates rise the cost of new construction increases thereby slowing the number of construction starts and depleting new supply of product coming online. This scenario in turn causes an increase in overall market absorption rates and creates a “landlord’s market” environment.Myatt adds that “the environment which favors the landlord creates an opportunity for property owners to increase rents thereby allowing NOI growth to keep pace with any escalation in interest rates. While this scenario is favorable to existing property owners and making the rise in interest rates less of a concern, the impact to developers and tenants is detrimental and can have a negative overall impact on the economy if a high interest rate environment lasts for any length of time.”At a more micro level some of the major issues surrounding the impact of increasing interest rates on commercial real estate loans and commercial capital markets are addressed below:Flow of Funds: In a low interest rate environment real estate provides a reasonable investment alternative to other low yielding asset classes. With rising interest rates the supply-side availability of capital marked for commercial real estate will constrict. The aforementioned contraction will be due to a combination of reduced demand for new supply as weaker developers are weeded out of the market and alternate investment opportunities in other asset classes begin providing a better yield while being perceived to have less risk when contrasted to commercial real estate investments.Loan Pricing, Sizing and Cost of Funds: The overall blended cost of capital will increase dramatically. This dramatic increase will come not only as a result of rising rates across underlying indices but moreover as a result of lower advance rates in the senior position shifting a higher percentage of the capital structure up in the leverage curve. The reduction in LTV and LTC advance rates will cause a borrower to rely more heavily on mezzanine and equity financing resulting in shift from the current “borrower’s market” climate to a “investor’s market” environment.Investment Sales: Sales of investment grade properties will slow rapidly as many of the buyer’s in today’s low interest rate environment will move to the sidelines. Institutions and REITS will remain active buyers while many of the individual investors will be forced from the investment sales market. Default rates will climb and more distressed property will come onto the market as investors who leveraged up on floating rate debt during the low interest rate environment will have a hard time keeping control of property as their debt service obligations increase.Commercial real estate owners who believe that interest rates will rise substantially and will remain elevated for any period of time should be looking to refinance short-term commercial real estate loans, floating rate debt with long-term fixed rate debt. Buyers looking to acquire investment property should look for assets with upside potential for NOI growth through improved management and upside pop in leasing opportunities.About Pacific Security Capital Pacific Security Capital is a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services. The combination of direct lending, advisory, intermediary, corporate and professional services, syndication and acquisition services consistently allow PSC to rank among the leaders in the industry. PSC is headquartered in Beaverton, Oregon with other offices in major markets in North American and Europe. More information about the company can be found at www.PacificSecurityCapital.com###

 
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