Posted on 12/03/2010 10:16:09 AM PST by NormsRevenge
According to state records, one of the investors in California’s $2.3 billion sale of 11 state office buildings is a Newport Beach company founded and run, until 2008, by Hadi Makarechian, a contributor of more than $314,000 to Gov. Arnold Schwarzenegger since 2003 and nearly $175,000 to ballot measures backed by the GOP governor.
Makarechian, 62, a long-time real estate developer and investor, was appointed by the GOP governor as a University of California regent in 2008.
...
Makarechian was traveling and unavailable, his office said. Kern said Makarechian was still an owner and officer of the company.
In his biography as regent, Makarechian says he retired in 2008 as chief executive officer and chairman of Capital Pacific Holdings, Inc., which he founded in 1991.
Capital Pacific Holdings is listed as one of nine “additional equity investors” on documents sent to lawmakers by the state Department of General Services on October 11, notifying them of the Schwarzenegger administration’s decision on who to sell the buildings to a consortium calling itself California First, LLC.
...
Leading California First is Hines Interests, a Houston-based international real estate firm and ACRE LLC, a private equity firm headquartered in Irvine and New York with an office in Mumbai.
ACRE stands for Antarctica Capital Real Estate, a consortium of investors created to bid on the state buildings.
The entity is an offshoot of Antarctica Capital whose principal is Chandra Patel is an international private equity firm.
Also participating in ACRE is Rich Mayo, a long-time real estate broker and developer in the Low Angeles metropolitan area.
Michael Bustamante, a spokesman for California First, said he knew no details of the additional investors including Capital Pacific Holdings.
(Excerpt) Read more at californiascapitol.com ...
but should that surprise anyone considering the other schemes sold to voters the last few years?
California First? lol
Since when?
There’s some good source documents included at the link in the article.
http://www.mediafire.com/?sharekey=33k5rbqyha48r#25,1
The first one I looked at included this:
http://www.mediafire.com/?01zynjdczbz0d6r
California First LLC Final Offer Letter - 05 21 10.pdf
(snip)
The Purchaser has assembled a consortium of established investors with deployable capital sufficient to execute this transaction. Purchaser has entered into commitments for equity investments for the transaction with the below investors, and we are materially oversubscribed for this transaction. Please let us know if you would to either speak with any of the below investors or review any of the commitment documentations, and we will promptly arrange to provide the same. The investors include:
• PRP
• Belgravia Capital
• Woodmont Capital Partners
• Steadfast Companies
• Black Equities Group
• CityView
• AE Capital Advisers
• Capital Pacific Holdings, Inc.
• The Linc Group
• GreenSpace Developments
Ping
more details about the State’s sleazy deal
Business as usual...
Did they mean "deployable," or deplorable???
How was that infamous liberal with EB Homes, or whatever it was called?
KB Homes > Kaufman Broad > Eli Broad?
I'm gettin' pretty good at figurin you out, huh? LOL.
And, if that is who you mean, there is an 11-page profile of him in the November issue of The NewYorker.
http://www.newyorker.com/reporting/2010/12/06/101206fa_fact_bruck
The Art of the Billionaire
How Eli Broad took over Los Angeles.
by Connie Bruck December 6, 2010
Thanks so much for your help.
What brought him to mind was this thread that set me to wonderin if he too was involved with the Schwartzenrenegger... the skuldugery and treachery just mounts to forte, instead of declining to pianisimo!!!
He wasn’t one of Schwarzie’s direct donors, or not a big one, anyway.
He usually hid behind his leadership of the “California Business Roundtable”
that seemed to include all the major trough feeders that backed propositions
from which they benefited.
Ok, I got that group mixed up in my mind with CA 1st. Again I eagerly thank you for helping me with my aging brane!!!
It’s not agin’
It’s ripening. ;-)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.