BentleyForbes Plans for $12 Billion Portfolio via Strategic Five-Year Investment and Growth Program

National Commercial Real Estate Investment Firm to Focus on Strategic Capital Alliances, Global Expansion, Acquisitions, New Construction and Continued Infrastructure Development

LOS ANGELES--()--BentleyForbes, a national real estate investment firm, today announced plans to move forward with an ambitious growth strategy outlined in a five-year program that will expand its portfolio of properties to $12 billion by 2014.

Currently, the private company owns a $3 billion portfolio of commercial properties that includes landmark Class A office, luxury hotel & resort, and single-tenant corporate properties in diverse markets across the United States.

During the past 12 months, BentleyForbes has focused on asset management and property improvement within our existing portfolio, refining operating procedures, and attracting key personnel to prepare for the Companys next phase of growth, said Fred Wehba Sr., chairman and founder of BentleyForbes. We are confident that BentleyForbes is now correctly positioned to move forward from a well capitalized, well prepared foundation on a strategic five-year plan that targets the significant expansion and growth of our portfolio of owned properties.

Wehba, in conjunction with the BentleyForbes Executive Committee, which also includes Vice Chairman Fred Wehba Jr., President & CEO David Cobb, and Chief Operating Officer Bert Dezzutti, charted a four-point plan for growth during the next five-year period:

  • Strategic Capital Partnerships (Institutional Fund or Private Equity sources).
  • Global Expansion (Enter International markets).
  • New Acquisitions (Class A Office, Luxury Resort & Hotel, Single Tenant Corporate).
  • New Development/Redevelopment (Property Expansion, Renovation, New Projects).

BentleyForbes is in a unique position within todays market environment, said Cobb. All of the Companys growth to date has been through the successful management and redeployment of internally generated capital resources. Our current portfolio of properties is funded with stable, long-term debt and maintains healthy occupancy levels and cash flows. A key to our future growth is to align our internally generated capital with that of joint venture capital partners seeking to leverage the strength of our investment, operations, and management expertise.

BentleyForbes has diversified itself in recent years as an owner of premier quality Class A office and luxury resort/hotel properties in select U.S. markets. Historically, the Company is also known as the leading private firm focused on the acquisition and management of single-tenant and sale-leaseback corporate real estate properties, an expertise and product type that still plays a role in its portfolio and operations today.

BentleyForbes has developed a scaleable operations platform that is poised to support the Companys next phase of growth, said Dezzutti, who joined the Company as COO at the beginning of 2008. Through investment in sophisticated and customized software systems, and the recruitment and retention of key personnel with documented real estate investment expertise, BentleyForbes is well positioned to manage and create value within a growing portfolio of premier real estate assets.

Since the founding of BentleyForbes in 1993 by real estate industry leaders C. Frederick Wehba (Fred Wehba Sr.) and C. Frederick Wehba II (Fred Wehba Jr.), the Wehba family has overseen the wholly-owned companys growth to a total of 102 employees working in six offices companywide, including its Los Angeles headquarters at Century Citys MGM Tower. These personnel include experts in real estate investment, management, accounting and law.

Trophy assets in the current BentleyForbes portfolio include: The Four Seasons Resort and Club Dallas, which sits on 400 acres and includes four swimming pools, a 176,000-square-foot sports club, two golf courses, 307 guest rooms, 124 villa rooms, and 60 branded Four Season for-sale condominiums now in development; Prudential Plaza, a 2.2 million-square-foot, two-tower, integrated office complex in Chicago; Bank of America Plaza, a 1.3 million-square-foot office tower in Atlanta; Las Olas Centre, a 469,000-square-foot office complex in Fort Lauderdale, Fla.; The Watergate Building, a 261,000-square-foot office and retail property in Washington, D.C.; and Three Dallas office properties: the 419,000-square-foot, three-building Preston Commons, the 303,000-square-foot Sterling Plaza, and the 236,000-square-foot Park Center.

About BentleyForbes:

Founded in 1993 by C. Frederick Wehba and members of his family, including C. Frederick Wehba II, privately-held BentleyForbes is a national real estate investment firm focused on the acquisition, ownership and management of trophy Class A office buildings, luxury resort and hotel properties and select high-quality industrial and retail facilities. Currently, the Company owns and operates a portfolio of assets valued in excess of $3 billion that comprises approximately 7.9 million square feet in total consideration located in diverse markets across the United States. Typical investments for the Company range from $30 million to $500 million and beyond, emphasizing multi-tenanted and single-tenanted Class A office properties in top CBD or regional submarket locations and best-of-class luxury resort and hotel properties in major MSA or resort destination markets. Furthermore, the Company is recognized for its expertise in the acquisition and management of single tenant and/or sale-leaseback property investments, and continues to invest in assets of this type on a select basis. From its Los Angeles headquarters, BentleyForbes employs a roster of real estate experts well versed in commercial real estate investment, finance, law, accounting and asset management. The Company also has regional offices in Atlanta, Chicago, Dallas, Ft. Lauderdale and Washington D.C. For more information, please logon to www.bentleyforbes.com.

Contacts

Macy + Associates Inc.
Chris Egger/Brooke Turner, 310-821-5300
cegger@macyinc.com

Contacts

Macy + Associates Inc.
Chris Egger/Brooke Turner, 310-821-5300
cegger@macyinc.com