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  • Giltz & Associates

    Real Estate Private Equity

    Real estate developer and manager

    Provided capital raising services

  • Giltz & Associates

    Real Estate Private Equity

    Real estate developer and manager

    Raised $26 million of joint venture equity from Harbert Management Company (Birmingham, AL) for the development of shadow anchor retail centers

    Giltz & Associates

    Western Reserve acted as exclusive financial advisor to Giltz & Associates Inc. in the formation of a commercial real estate joint venture with Harbert Management Corporation.  This transaction represented the firm’s second engagement by Giltz, as Western Reserve advised the company in its 2005 operating partnership unit exchange with Cedar Shopping Centers, a public REIT.

    Giltz, based in North Canton, Ohio, develops, acquires, leases and manages retail and residential real estate throughout the Eastern U.S.  At the time of the transaction, Giltz had developed 3 million square feet of real estate over the previous ten years, the majority of which had been in the form of Discount Drug Mart anchored retail centers throughout Ohio.

    Western Reserve was engaged by Giltz to advise in their formation of a joint venture, and Giltz partnered with Harbert in June 2007.  Harbert, based in Birmingham, Alabama, manages funds for itself, institutions and high-net-worth individuals in a variety of platforms, including commercial real estate.  The joint venture developed approximately 20 shadow-anchored retail shopping centers – centers that draw upon retail traffic from a nearby anchored center – primarily in the Southeastern U.S.  The transaction provided Giltz with outsized returns generated from the negotiated joint venture promote structure, as well as an equity partner to build Giltz’s retail business.

    Harry Giltz, Chairman of Giltz, said, “The Western Reserve team delivered on everything we had hoped for in this transaction.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

  • Molina Healthcare, Inc.

    Real Estate Private Equity

    Provide Medicaid-related solutions to meet the health care needs of families and individuals and to assist state agencies in their administration of the Medicaid program

    Sale leaseback of the company's corporate headquarters and satellite office

    Molina Healthcare, Inc.

    Western Reserve served as a co-advisor and placement agent to Molina Healthcare, Inc. (NYSE: MOH) in its sale and lease back of its corporate headquarters in Long Beach, California and satellite office in Columbus, Ohio.  Molina closed the transaction on June 13, 2013, conveying both properties to AG Net Lease Acquisition Corp., the dedicated net lease group of Angelo, Gordon & Co., for $158.6 million in proceeds.  The transaction was led by Managing Director Victor Faris, supported by Associate Matthew Reus and Analyst Andrew Foster.

    Molina Healthcare, Inc., a FORTUNE 500 company, provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program. Molina’s licensed health plans in California, Florida, Michigan, New Mexico, Ohio, Texas, Utah, Washington, and Wisconsin currently serve approximately 1.8 million members, and Molina’s subsidiary, Molina Medicaid Solutions, provides business processing and information technology administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, and drug rebate administration services in Florida. More information about Molina Healthcare is available at www.molinahealthcare.com.

    “We were delighted to represent Molina and to work with McKinney Advisory Group and Molina’s management team on this transaction,” said Mr. Faris.  “This partnership allowed Molina to cost-effectively monetize the value of its real estate and is a great outcome for both parties.”

    “We thoroughly enjoyed working with Western Reserve Partners, McKinney Advisory Group and Molina on this sale lease back. We look forward to a long and mutually beneficial relationship with all of the involved parties,” said Fort Parker, a Director at Angelo, Gordon & Co.

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

  • Weston, Inc.

    Real Estate Private Equity

    Developer of industrial real estate

    Provided financial advisory services in the formation of a joint venture with Blue Vista Capital Management

    Weston, Inc.

    Western Reserve acted as exclusive financial advisor to Weston, Inc. in its formation of a real estate joint venture with Blue Vista Capital Management.

    Weston is a Solon, Ohio based commercial real estate company established by Tony Asher in 1972 that offers acquisition, leasing and management services. At the time of the transaction, Weston’s portfolio had grown to more than 10 million square feet of industrial, office and retail space in more than 75 properties in nine states. The company managed each of its industrial properties and maintained relationships with 450 tenants primarily in the Midwest and Southeast.  Weston was growing quickly and was poised for geographical expansion and diversification.

    Western Reserve was engaged by Weston to advise in their formation of a joint venture, and in May 2008, Weston established the joint venture with Blue Vista.  Founded in 2002 and based in Chicago, Illinois, Blue Vista co-invests with acquirers and developers of all real property types across the U.S. and in select international markets. The joint venture acquired value-added industrial real estate in Spartanburg and Greenville, South Carolina, as well as other parts of the U.S. These properties were well-positioned to capitalize on the dynamics surrounding the transportation, distribution and logistics markets.  The transaction provided Weston with outsized returns generated from the negotiated joint venture promote structure, as well as an equity partner to execute its “value-add” strategy in Upstate South Carolina.

    Edward Asher, Principal at Weston, said, “The Western Reserve team was with us every step of the way and did a terrific job in working through the many details of the transaction.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

     

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