…acquires commercial real estate properties for an intermediate holding
period, thereby providing the Company with a stable revenue stream. Selectively,
the Company sells properties when those assets are not deemed to be consistent
with its longer-term ownership goals. In the past few years, BentleyForbes has
successfully completed the purchase of several Class A office and hospitality
properties in diverse markets, summarized as follows:
|
Property |
Location |
Building Size - Square Feet |
|
Prudential Plaza
|
Chicago, Illinois
|
2,200,000'
|
|
Bank of America Plaza
|
Atlanta, Georgia
|
1,288,000'
|
|
Las Olas Centre
|
Ft. Lauderdale, Florida
|
469,000'
|
|
Preston Commons
|
Dallas, Texas
|
419,000'
|
|
Sterling Plaza
|
Dallas, Texas
|
303,000'
|
|
Watergate
|
Washington, D.C.
|
261,000'
|
|
Park Center
|
Dallas, Texas
|
327,000'
|
|
Four Seasons Resort and Golf Club
|
Irving, Texas
|
431 rooms; 2 PGA golf courses
Home of the EDS Byron Nelson Championship
|
BentleyForbes announced today that the company is moving forward on an ambitious five-year growth plan. Chairman and Founder Fred Wehba, along with members of the firm’s Executive Committee, offered a four point plan that will guide the company during the next five years as it pursues a $12 billion portfolio of commercial real estate. To view the official announcement, you can follow the link that follows…
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August 14 2008 | Uncategorized
BentleyForbes was named one of the fastest growing private companies in Los Angeles. LOS ANGELES (November 19, 2007) - BentleyForbes, a national real estate investment firm founded in Los Angeles, was named the eleventh fastest growing company in Los Angeles by the Los Angeles Business Journal in its annual survey for 2007. The company moves from fifty-fifth place to eleventh place on the list in only one year. “BentleyForbes has built a national portfolio of commercial real estate assets valued in excess of $2.7 billion through the company’s private capital,” said C. Frederick Wehba, Chairman of BentleyForbes, who founded the company in 1993 along with several members of his family. “We are honored to be acknowledged for our progress and future growth potential.”
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July 10 2008 | Uncategorized
BentleyForbes is seeking joint venture partners. In the fall of 2007, BentleyForbes announced plans to pursue joint venture partners in order to expand its luxury hotel and resort investment program. “BentleyForbes is in a period of significant growth,” said Chairman C. Frederick Wehba. “This effort is geared toward assembling a portfolio of world class hospitality properties that will include signature resorts and hotels in top destination markets throughout the U.S.”
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July 10 2008 | Uncategorized
BentleyForbes is continually refining its portfolio and has a track record of building its capital resources through strategic dispositions when appropriate. In September 2006, the Company announced the sale of a five-property portfolio of 100 percent occupied warehouse/distribution center buildings located in four states for $80.5 million. During this period sales and refinancing resulted in a significant capital infusion that led to the acquisition of several multi-tenant, Class A trophy office properties in diverse national markets. “We completed more than $1 billion in new property acquisitions during 2006,” said Chairman C. Frederick Wehba.
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July 10 2008 | Uncategorized
BentleyForbes moved its headquarters in 2005 to 16,000 square feet of Class A office space on the 23rd Floor of the new MGM Tower in the Century City commercial and residential district on the west side of Los Angeles. “As we move into the second decade of operations at BentleyForbes, we will enter this new phase of the firm’s growth at one of the premier business addresses in Los Angeles,” said Chairman Fred Wehba. “MGM Tower is a landmark in Century City.” When it opened in 2003, the MGM Tower was the first major high-rise to be built in Los Angeles in a decade.
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July 10 2008 | Uncategorized
BentleyForbes was well into the planned restructuring of its portfolio for growth in 2003. That year the Company announced the sale of two properties in separate transactions totaling $20 million. “We were leveraging our assets to make room for acquisitions of larger, Class A properties, and this streamlining strategy yielded spectacular results,” said C. Frederick Wehba II, BentleyForbes vice chairman. “This was the beginning of a string of acquisitions of the most prestigious properties in America, including Prudential Plaza in Chicago, Bank of America Plaza in Atlanta, and the Four Seasons Resort and Golf Club in Dallas.
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July 10 2008 | Uncategorized