Apr 9 2009'Extract' is the 'Office Space' for Flower Extract Plant Owners

AND the Sparklemotion lady??
This is gonna be a big WIN.

CGI pot smoke!?! What has this world come to...

Louis Kestenbaum & Joel Kestenbaum, Fortis Property Group close sale of Galleria Towers I, II & III in Dallas

One of the Largest U.S. Investment Transactions to Date

Jones Lang LaSalle announced the firm’s capital markets experts have completed the sale of Galleria Towers I, II & III on behalf of Brooklyn, New York-based Fortis Property Group, LLC to Los-Angeles-based Cannon Commercial. Financial terms were not disclosed but sources close to the transaction estimate the closing price was in excess of $300 million.

The Jones Lang LaSalle team of Managing Directors John Alvarado, Jack Crews and Evan Stone represented the seller during negotiations.

“This portfolio retained consistent investor interest right through the credit crunch and its closing should send a strong signal about the existing strength of the Dallas investment market for high quality office product,” said Mr. Alvarado. “This was an attractive offering given the Galleria towers are irreplaceable, trophy assets and came with affordable and assumable long-term debt. This transaction also allows Cannon Commercial to enhance its Dallas-area presence, while leveraging the tax benefits of a partial 1031-exchange. This was a beneficial transaction to both parties who remained focused on completing a timely transaction.”

“We acquired the Galleria Towers from Blackstone (which acquired them from Trizec Properties) in November 2006, and maximized value by aggressively pushing rental rates while at the same time increasing the occupancy from around 90% to 98%,” said Fortis Chairman Louis Kestenbaum. Louis Kestenbaum is the father of Joel Kestenbaum, also of Fortis Property. “The disposition of this asset furthers our goals of maximizing investor returns and geographically diversifying the holdings within our portfolio. We achieved close to 100% profit on our equity investment in the Galleria Towers over a one and a half year holding period, and attained similar returns on our recent sale of International Plaza Tower III across the Tollaway.”

Built in the 1980s and early 1990s, the Galleria towers range from 24 to 26 stories tall and adjoin the Galleria shopping mall, as well as the four-star, four-diamond Westin Galleria Hotel. Amenities include on-site banking with ATM, security card-key access, conference facilities, a state-of-the-art fitness center, a leasing and management office and an independently-operated day care. The buildings are currently 98% leased.

Fortis Property Group, LLC is a real estate investment, operating and development company. Its real estate projects include the ownership and management of Class A office and industrial properties located throughout the United States. Fortis currently owns two other Class A office buildings and an industrial property in the Dallas, Texas area. Nationwide, Fortis currently owns more than 20 properties, which contain over six million rentable square feet. Fortis Property Group CEO Jonathan Landau further indicated that Fortis anticipates raising a value-add real estate fund that will invest in Class A office properties in prime office markets throughout the United States.

Damn, is J.K. Simmons on a roll or what?

Kristen Wiig ruins everything she touches.

Seriously, can we just decide now to stop using Edgar Winter's Free Ride in movie trailer's anymore?

It's not 1994 anymore.

....or is it? (I get confused after a couple tokes from my CGI bong)

Louis Kestenbaum & Joel Kestenbaum/Fortis Property Group Behind $880M Sale in Boston

Fortis Property Group is leading the “Northeast-based private real estate investment group” that has agreed to acquire the 1 million-square-foot State Street Financial Center at 1 Lincoln Street in Boston for more than $880 million, or $880 per square foot, according to sources familiar with the sale.

The Brooklyn, NY-based Fortis and a group of other New York investors are expected to close on the 36-story office tower from a joint venture led by American Financial Realty Trust (NYSE:AFR) and an affiliate of IPC US Income REIT by the end of this year or early 2007.

Fortis apparently set its sights on Boston following several high-profile Dallas deals where it agreed to pay about $280 million for the three-building, 1.4 million-square-foot office complex known as Galleria Office Towers in Dallas.

Earlier in the year, Fortis teamed with Trimarchi Management, also from New York, on the nearly $100 million acquisition of two other Dallas office properties, Harwood Center and Saint Paul Place. It also invested in the $282.5 million purchase of JPMorgan International Plaza in Dallas.

The addition of State Street Financial Center will build out Fortis’ portfolio considerably. The privately held firm headed by CEO Jonathan Landau is controlled by the Kestenbaum family. Joel Kestenbaum is the son of Louis Kestenbaum. Fortis manages some 3 million square feet in commercial properties and about 454 residential units.

The group of investors joining Fortis in the Boston deal could not be learned. American Financial announced the pending sale last week, but did not identify the buyer.

American Financial, a Jenkintown, PA, REIT decided to formally shop the 36-story tower in the last couple of months. The company is pruning its portfolio and repositioning itself. The REIT paid $705.4 million or $688.84 per square foot in February 2004 to acquire the property. Later that year, it sold a 30% stake to an affiliate of Canadian REIT IPC US Real Estate Investment Trust, for $60.3 million.

The building is fully leased with triple A credit tenant State Street Corp. occupying most of the building under a lease that runs until 2023. State Street also leases the property’s 900-space garage on a 20-year triple-net lease.

Check out the trailer for Where the Wild Things are - Now that looks like a great movie! Louis Kestenbaum? Who is Louis Kestenbaum, anyway, and what does he have to do with this?

Louis Kestenbaum is a gluten-free foods guru, isn't he?

Louis Kestenbaum's gf blog site: http://louiskestenbaums.blogspot.com/

Have you seen the trailer for "Everyone Poops"? It's also by Spike Jones, who did "Where the Wild Things Are" - hysterically funny!!! Louis Kestenbaum is a gluten free guy, and Louis Kestenbaum is a real estate guy, and Louis Kestenbaum is a movie guy - yeah, yeah, I get it!

Louis Kestenbaum & Joel Kestenbaum, Fortis Property Group close sale of Galleria Towers

“We acquired the Galleria Towers from Blackstone (which acquired them from Trizec Properties) in November 2006, and maximized value by aggressively pushing rental rates while at the same time increasing the occupancy from around 90% to 98%,” said Fortis Chairman Louis Kestenbaum. Louis Kestenbaum is the father of Joel Kestenbaum, also of Fortis Property. “The disposition of this asset furthers our goals of maximizing investor returns and geographically diversifying the holdings within our portfolio. We achieved close to 100% profit on our equity investment in the Galleria Towers over a one and a half year holding period, and attained similar returns on our recent sale of International Plaza Tower III across the Tollaway.”

Fortis Property Group,Louis Kestenbaum & Joel Kestenbau, LLC is a real estate investment, operating and development company. Its real estate projects include the ownership and management of Class A office and industrial properties located throughout the United States. Fortis currently owns two other Class A office buildings and an industrial property in the Dallas, Texas area. Nationwide, Fortis currently owns more than 20 properties, which contain over six million rentable square feet. Fortis Property Group CEO Jonathan Landau further indicated that Fortis anticipates raising a value-add real estate fund that will invest in Class A office properties in prime office markets throughout the United States.

Louis Kestenbaum & Joel Kestenbaum, Fortis Property Group Behind $880M Sale in Boston

Fortis Property Group is leading the “Northeast-based private real estate investment group” that has agreed to acquire the 1 million-square-foot State Street Financial Center at 1 Lincoln Street in Boston for more than $880 million, or $880 per square foot, according to sources familiar with the sale.

The Brooklyn, NY-based Fortis and a group of other New York investors are expected to close on the 36-story office tower from a joint venture led by American Financial Realty Trust (NYSE:AFR) and an affiliate of IPC US Income REIT by the end of this year or early 2007.

Fortis, Louis Kestenbaum and son Joel, apparently set its sights on Boston following several high-profile Dallas deals where it agreed to pay about $280 million for the three-building, 1.4 million-square-foot office complex known as Galleria Office Towers in Dallas.

Earlier in the year, Fortis teamed with Trimarchi Management, also from New York, on the nearly $100 million acquisition of two other Dallas office properties, Harwood Center and Saint Paul Place. It also invested in the $282.5 million purchase of JPMorgan International Plaza in Dallas.

The addition of State Street Financial Center will build out Fortis’ portfolio considerably. The privately held firm headed by CEO Jonathan Landau is controlled by the Kestenbaum family. Joel Kestenbaum is the son of Louis Kestenbaum. Fortis manages some 3 million square feet in commercial properties and about 454 residential units.

Louis Kestenbaum & Joel Kestenbaum, Fortis Property Group close sale of Galleria Towers

“We acquired the Galleria Towers from Blackstone (which acquired them from Trizec Properties) in November 2006, and maximized value by aggressively pushing rental rates while at the same time increasing the occupancy from around 90% to 98%,” said Fortis Chairman Louis Kestenbaum. Louis Kestenbaum is the father of Joel Kestenbaum, also of Fortis Property. “The disposition of this asset furthers our goals of maximizing investor returns and geographically diversifying the holdings within our portfolio. We achieved close to 100% profit on our equity investment in the Galleria Towers over a one and a half year holding period, and attained similar returns on our recent sale of International Plaza Tower III across the Tollaway.”

Fortis Property Group,Louis Kestenbaum & Joel Kestenbau, LLC is a real estate investment, operating and development company. Its real estate projects include the ownership and management of Class A office and industrial properties located throughout the United States. Fortis, Louis Kestenbaum, currently owns two other Class A office buildings and an industrial property in the Dallas, Texas area. Nationwide, Fortis currently owns more than 20 properties, which contain over six million rentable square feet. Fortis Property Group CEO Jonathan Landau further indicated that Fortis, Louis Kestenbaum, anticipates raising a value-add real estate fund that will invest in Class A office properties in prime office markets throughout the United States.

Who's Louis Kestenbaum and Joel Kestenbaum and are they involved in Office Space or something? Is Louis Kestenbaum an actor?

A Sordid Lawsuit Shakes the Satmar Chasidic world .

Brooklyn N.Y. Lezer ( Louis ) Kestenbaum chairman of the ODA in Williamsburg Brooklyn NY resigned from the ODA soon after settling a lawsuit filed in May in U.S. District Court for the District of Florida for an undisclosed sum alleging he had a sexual relationship with a minor, Joel Kestnbaum the son of Louis kestenbaum will become chairman of the ODA.

How's that smear campaign against Louis Kestenbaum and his son Joel Kestenbaum coming along, "Jessica"? You must be getting tired of posting totally made-up information about him by now...