How the Marines Prepared Brian Von Herbulis to Manage a Major Construction Company
Doubt the carryover? Then just ask Brian Von Herbulis. He served with the Marine's special ops in three combat tours in Afghanistan and is now director of operations for Burger Construction.
Von, 43, spent much of his career in a world most of us only read about—as a commander of recon and special ops units while serving in the Marine Corps. During his time as a commander of special operations units, he led village stability operations throughout some of the most hostile areas of Southwest Afghanistan. For Von, who joined the Marines at the age of 25, life in the Marines was a perfect fit. “I grew up playing sports, and I needed that team atmosphere again,” he says. But the military life began to wear on the father of two, especially the stress of extended deployments. So in November, he retired as a Lieutenant Colonel. The question was what next?
 The answer came in the form of Jack Burger. Von had met the founder of Burger Construction when the firm provided assistance to his platoon as part of a NAIOP “Adopt a Platoon” program. The two struck up a friendship, and it became a natural fit for Von to come to work at Burger Construction when he returned to civilian life. And more importantly, Von says he can now plant roots in San Diego with his family. Von now leads a construction management team at Burger. He says the job isn't all that different from being in the Marines. “It's project and team oriented. That's what I like about the construction industry. Every deployment in the military was a project,” he says. Among the construction projects he's coordinating are the build-out of 93k SF of office and lab space for Nordson Asymtek in Carlsbad and tenant improvements for DLA Piper at Wells Fargo Plaza (here). |
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Rexford Reveals SD Buy Strategy
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Rexford Industrial has spent more than $50M on various San Diego warehouses since December, according to an SEC filing. And that's while the industrial market in the area remains slow to recover. Rexford reveals details on its recent area purchases: The firm spent $18.5M using funds from its unsecured revolving credit facility to buy Miramar Commerce Center, a five-building, 112,500 SF flex industrial project on 10 acres off Activity Road. Rexford also purchased the 188k SF Kearny Mesa Industrial Park off Convoy Court for $32.3M in December. The 13-building property (here) on 12 acres was also purchased with Rexford's credit facility. |
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Rexford is buying into a market that, by its own admission, is tougher than other parts of California. Rexford's SD portfolio is 86.3% leased as of December, compared to LA (at nearly 91%) and Orange County (at 92%). But Rexford offers its rationale for the purchase of the properties, including Kearny Mesa (here): “A key component of our growth strategy is to acquire distressed, off-market and lightly marketed properties that are often operating at below-market occupancy at the time of acquisition,” Rexford execs write in SEC docs.The firm has plans to redevelop and reposition several of the properties. |
Suites on Paseo Bond Details Revealed
You could say that America First Multifamily Investors has a bonding relationship with a major student housing project in San Diego. The multifamily investor revealed in SEC docs that it owns a $35.5M bond on the Suites on Paseo, a 385-unit student housing project across the street from San Diego State University. According to filings, AFMI holds the bond with a 6.25% base interest rate, which it purchased in December of 2013. The property, owned by Preiss Co, had a net op income of $501k on net revenues of $3.55M in 2014. Preiss is current on its principal and interest payments, AFMI reports. In turn AFMI purchased a $35.8M mortgage revenue bond with an interest rate of 6.25%/annum, maturing in 2048, secured by The Suites on Paseo.
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HBO Doc Leads LA DA to Reopen Durst Case
The Los Angeles district attorney has reopened an investigation into the 2000 murder of Susan Berman, a friend of notorious New York real estate scion Bob Durst. The decision was motivated by evidence unearthed Sunday night during the airing of episode five of HBO's documentary The Jinx: The Life and Deaths of Robert Durst. Durst has twice been acquitted of murder and has lived (sometimes in drag) as a suspect in the deaths of his wife, Berman and neighbor Morris Black. [NYT]
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Negotiating Guidance You Can Use Now
The art of commercial real estate negotiation is not easily taught in a book. That's why Bisnow Education offers One on One With David Adelman, featuring real-world insight and practical, applicable advice concerning our industry's most tricky component. Campus Apartments CEO David Adelman shares his knowledge and experience with host Peter Linneman, chairman of the Wharton School of Real Estate. The conversation presents usable information about buying, selling, vendor contracts and everything else that requires give and take. Also revealed is the biggest lesson David has learned, which may inspire all of your negotiating going forward. Find out exactly what negotiating is: Winning? War? Marriage? All of the above?
This video, and all of Bisnow's learning tools, are designed for understanding financial models and industry lingo at all professional levels. They'll also be a tremendous asset to your corporate training program. Group rates available. Find out more about our helpful videos (with more to come) by clicking here. Buy the entire set and receive this latest video for free by emailing Bisnow's Amelia Garland at amelia.garland@bisnow.com. |
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Report: Blackstone in Talks to Buy Willis Tower for $1.5B
Blackstone is reportedly in talks to buy Chicago's Willis Tower for $1.5B. The Windy City acquistion would be splashy even by Blackstone's lofty standards: the Willis Tower (fka Sears Tower) was America's tallest building until 1 World Trade Center (controversially) topped it in 2013. And the price tag would set a Chicago office building record. None of the parties involved in the sale have gone on record to confirm Blackstone's interest. It was announced last week that New York-based owners Joe Chetrit and Joe Moinian had put the 1,450-foot skyscraper on the market. They acquired it in a 2004 partnership with American Landmark Properties for $841M, and renamed it five years later. [Bloomberg] |
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Doing Retail Business in DC, Maryland, Virginia?
Headed to ICSC's annual expo in Las Vegas this spring? If so, we hope you'll join our party for the Metro Washington DC region at the Wynn Hotel's incomparable Tryst Nightclub from 5:30 to 8:00 PM on May 18.
We're honored to announce that our supporting firms include these top retail players of the DC region:
Founding Partners
Acadia Realty Trust
ASB Real Estate Investments
Calkain Companies
Combined Properties
Cushman & Wakefield
Douglas Development
Federal Realty Investment Trust
JBGR Retail
McCaffery Interests
Miller Walker Retail Real Estate
Peterson Companies
Potomac Development
Roadside Development
Streetsense
Vornado/Charles E. Smith
Washington REIT (formerly WRIT)
Presenting Sponsors
Papadopoulos Properties
Founding Sponsors
CohnReznick
Continental Title Group
Divaris Real Estate
Goulston & Storrs
Renaud Consulting
Rosenthal Properties
Shulman Rogers
More information? Please check out our event page, or contact Chris.Wainwright@Bisnow.com |
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