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  #61  
Old Posted Mar 24, 2006, 10:29 PM
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Quote:
Originally Posted by SACMPH
Calpers has a total portfolio worth $207.2 billion as of January. They have been putting more in urban development and real estate lately; although, I'm not sure how much.


Good gravy!!! That comes out to nearly the equivalent of the 3 largest Fortune 500 Company (were it a publicly traded company). CalPers recently opened their massive new DT HQ. Though despite it's lower profile is a wonderful addtion to DT Sacramento. What a great asset to have in this community.




1 Wal-Mart Stores $288,189.010,267.0
2 Exxon Mobil $270,772.025,330.0
3** CalPers $207,200.000,000

The actual # 3 is......

3 General Motors $193,517.0 2,805.0


What about CalSTRS???
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  #62  
Old Posted Mar 24, 2006, 10:39 PM
brandon12 brandon12 is offline
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Quote:
Originally Posted by urban_encounter
Good gravy!!! That comes out to nearly the equivalent of the 3 largest Fortune 500 Company (were it a publicly traded company). CalPers recently opened their massive new DT HQ. Though despite it's lower profile is a wonderful addtion to DT Sacramento. What a great asset to have in this community.




1 Wal-Mart Stores $288,189.010,267.0
2 Exxon Mobil $270,772.025,330.0
3** CalPers $207,200.000,000

The actual # 3 is......

3 General Motors $193,517.0 2,805.0


What about CalSTRS???
Urban, I think you're confusing Assets (calpers, casltrs) with Revenue (F500) They're very different.
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  #63  
Old Posted Mar 24, 2006, 10:52 PM
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Originally Posted by brandon12
Urban, I think you're confusing Assets (calpers, casltrs) with Revenue (F500) They're very different.
Yeah I know. My point is simply that Cal Pers has deep deep pockets...
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  #64  
Old Posted Mar 24, 2006, 10:59 PM
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The nice thing about CalPers is that the $210 billion portfolio is free for investment. Companies pay the majority of their revenue out to employees, production costs, etc. Thus, it is pretty evenly dispersed throught the US and world.

Calpers employs as many people in Sacramento as many headquarters do elsewhere (although employees aren't making millions). Also, Sacramento projects are going to have an inside track on funding because CalPers people are going to know about them. It's also better for California if the investments are made in the state, so long as a similar return is anticipated.
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  #65  
Old Posted Mar 24, 2006, 11:04 PM
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I'm personally glad to see the local guys getting in on this.

The lady I talked to said memberships would be around $100 per month. If Capital Athletic is $108, I expect this one to be more than that.
_________________________________________________________________

California Family Fitness signs Towers pact
Sacramento Business Journal - 12:23 PM PST Fridayby Kelly JohnsonStaff writer

http://www.bizjournals.com/sacrament...37.html?page=1

California Family Fitness, the fast-growing local chain of fitness centers, completed an agreement this week to open a $15 million luxury gym inside the planned The Towers downtown high-rise

The 42,000-square-foot club would be built on the 10th and 11th floors of developer John Saca's high-rise, California Family Fitness co-owner Larry Gury said. The gym would be the most expensive yet for the 13-club chain owned by Gury and partner Russ Kuhn.

Saca was scheduled to announce the selection of California Family Fitness late Thursday at the opening of a sales office for The Towers. Saca hopes to open his 53-story high-rise on Capitol Mall within 2 1/2 years.

Before construction can begin, Saca must secure a financial partner and gain approval from the California Department of Real Estate to make the buyer deposits nonrefundable. Appointments have been scheduled starting March 29 for some of those prospects to sign firm contracts, signalling that backers expect to have state approval in hand by then.

"We think it's a very prestigious project," Gury said, "that will definitely be a great landmark and addition to the Sacramento region and we want to be a part of that."

California Family Fitness' coverage in the city's central core is not as strong as in the suburbs, where it has been building massive gyms with numerous amenities. Its existing downtown gym, which would continue operating, is old and cramped.

"We do need a larger facility downtown for more of a regional appeal," Gury said.

There's a huge demand for another downtown gym, Saca said, given the development of new housing downtown and growth of West Sacramento.

"They had the same vision I did," Saca said. "They really want to see downtown thrive like I do."

The fitness center also would draw from Land Park, East Sacramento and Natomas, he said.

Large downtown gyms Capital Athletic Club and 24 Hour Fitness stay busy

Rick Leonard, general manager of Capital Athletic Club, said his 52,000-square-foot club would have to stay on the top of its game if California Family Fitness opened in The Towers. Capital Athletic also caters to the high-end market, with laundry service, shoe shine and locker rooms for $108 a month for members.

He added that California Family Fitness has been extremely successful, but a downtown club targeted at professionals would be different from its family-focused model. The club would have to charge top dollar and attract many members to cover the overhead of buying the space. And the pool, basketball court, conference rooms and large locker rooms would take a big chunk of space from other fitness activities, Leonard said.

Fit Development LLC -- Gury and Kuhn's development company that builds gyms and other projects -- would buy the fitness center space.

The gym would cost $15 million, not including the exercise equipment. The fitness center would include a swimming pool on the deck, a basketball court, conference rooms for members, wireless Internet access, group fitness, sauna, and "plush, elegant locker rooms," Gury said.

The gym would share a lobby with The Spa at la Borgata, which would open a 12,000-square-foot spa and salon.

"That gym is going to have an incredible view and really an experience for people working out at that gym," Saca said.

He has worked with Gury and Kuhn on other property deals totaling several million dollars. Gury and Kuhn also have deposits to each buy a condo in The Towers.

Saca has lined up InterContinental Hotels & Resorts to occupy the first 18 floors of the first tower with about 230 hotel rooms. The Towers, which would be built on the site of the former Sacramento Union at 301 Capitol, would contain about 800 condos and shops.

California Family Fitness is proceeding with two other large projects. The company is completing construction plans for a $6.5 million club in Natomas that would open next March, and anticipates in November opening a fitness center of at least 100,000 square feet in part of the former JVC plant in Elk Grove.

This is an updated version of a story that appeared in the March 24 print edition.

Last edited by sugit; Mar 24, 2006 at 11:20 PM.
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  #66  
Old Posted Mar 24, 2006, 11:07 PM
brandon12 brandon12 is offline
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Quote:
Originally Posted by SACMPH
The nice thing about CalPers is that the $210 billion portfolio is free for investment. Companies pay the majority of their revenue out to employees, production costs, etc. Thus, it is pretty evenly dispersed throught the US and world.

Calpers employs as many people in Sacramento as many headquarters do elsewhere (although employees aren't making millions). Also, Sacramento projects are going to have an inside track on funding because CalPers people are going to know about them. It's also better for California if the investments are made in the state, so long as a similar return is anticipated.
good points. Word of caution though: If CALPERS invests $400M in downtown Sac, they'll probably look to diversify their real estate portfolio a bit and the next few investments wont be in Sac. They wouldn't want to expose themselves to too much exposure in anyone local real estate market, at least I wouldnt think. But I'm not a pension fund manager!

Also, I just quickly looked at the Fortune 10, and it looks like CALPERS compares nicely with most of them with the exception of Citigroup. for heaven's sake, they have $1.5T (that's a T) in assets. I would imagine there's only a few dozen countries on Earth (if that) that could match that! I looked for a list of assets by nation, but couldn't find it. Oh well, off topic, but thought it was interesting.
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  #67  
Old Posted Mar 24, 2006, 11:07 PM
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Quote:
Originally Posted by SACMPH
The nice thing about CalPers is that the $210 billion portfolio is free for investment. Companies pay the majority of their revenue out to employees, production costs, etc. Thus, it is pretty evenly dispersed throught the US and world.

Calpers employs as many people in Sacramento as many headquarters do elsewhere (although employees aren't making millions). Also, Sacramento projects are going to have an inside track on funding because CalPers people are going to know about them. It's also better for California if the investments are made in the state, so long as a similar return is anticipated.

Although the HQ being DT means many many different companies executives fly into and out of SMF to meet with Cal Pers execs. (I read that in the Business Journal )
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  #68  
Old Posted Mar 24, 2006, 11:11 PM
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Quote:
Originally Posted by brandon12

Also, I just quickly looked at the Fortune 10, and it looks like CALPERS compares nicely with most of them with the exception of Citigroup. for heaven's sake, they have $1.5T (that's a T) in assets. I would imagine there's only a few dozen countries on Earth (if that) that could match that! I looked for a list of assets by nation, but couldn't find it. Oh well, off topic, but thought it was interesting.

I don't know as much about investments/portfolios/profits etc as I think I do.... I've never heard of the Fortune 10, but thanks for putting it into perspective.
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  #69  
Old Posted Mar 25, 2006, 3:54 PM
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hey, Brandon -- according to the article above...

Quote:
Before construction can begin, Saca must secure a financial partner and gain approval from the California Department of Real Estate to make the buyer deposits nonrefundable. Appointments have been scheduled starting March 29 for some of those prospects to sign firm contracts, signalling that backers expect to have state approval in hand by then.
...the contracts won't begin til the 29th. Haven't they already started? Or are the simply handing out CCR's and paperwork this week???

If this has already been answered somewhere and I missed it, I apologize!
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  #70  
Old Posted Mar 25, 2006, 9:47 PM
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Originally Posted by sactivity
hey, Brandon -- according to the article above...



...the contracts won't begin til the 29th. Haven't they already started? Or are the simply handing out CCR's and paperwork this week???

If this has already been answered somewhere and I missed it, I apologize!
they have said they will be having people come in from March 29 - April 29 to sign sales contracts and to pay the balance of 10%, of which the entire down payment will at that time become nonrefundable.

At the open house, they handed out sample, or "draft" CCR, HOA and sales contracts. Assuming they get clearance from the DRE in the next week or so, they can then distribute the final docs and everyone will be "on the clock" to get their stuff signed and deposits squared away.

I think stuff is gonna happen from here on out at a pretty fast clip.
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  #71  
Old Posted Mar 25, 2006, 10:01 PM
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Sounds good!
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  #72  
Old Posted Mar 25, 2006, 11:09 PM
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yeee! just keep us posted!
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  #73  
Old Posted Mar 26, 2006, 4:27 AM
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Quote:
Originally Posted by urban_encounter
Here's the KCRA 3 report.


http://www.kcra.com/video/8233689/index.html


(In the report they're noting the towers to be 54 stories.)


Can Brandon or Los Lobos confirm this?
I just watched the report, and it will be interesting to see for sure who the partner is.


Also, if you didn't check out the sky tour of the Sierra, be sure to.
http://www.kcra.com/video/8233689/index.html


*edit; well, I guess you'll just have to scroll down on the menu on the right, and check it out.
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Last edited by ltsmotorsport; Mar 26, 2006 at 4:35 AM.
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  #74  
Old Posted Mar 26, 2006, 4:31 AM
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^ um, i think u meant to link to something ELSE, or am i wrong?
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  #75  
Old Posted Mar 26, 2006, 8:02 AM
SactownRob SactownRob is offline
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Quote:
Originally Posted by brandon12
Assuming they get clearance from the DRE in the next week or so, they can then distribute the final docs and everyone will be "on the clock" to get their stuff signed and deposits squared away.
I just heard that they got clearance this past week.
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  #76  
Old Posted Mar 26, 2006, 8:25 AM
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I just heard that they got clearance this past week.

Where did you hear that from (if I may ask??)
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  #77  
Old Posted Mar 26, 2006, 7:31 PM
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Originally Posted by urban_encounter
Where did you hear that from (if I may ask??)
From a reliable source involved in the deal that I just met last night. But I don't want to say who. You never know who's reading these boards, and I don't want to get them in trouble in case they weren't supposed to be talking about it yet...
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  #78  
Old Posted Mar 26, 2006, 8:05 PM
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Quote:
Originally Posted by SactownRob
From a reliable source involved in the deal that I just met last night. But I don't want to say who. You never know who's reading these boards, and I don't want to get them in trouble in case they weren't supposed to be talking about it yet...




(You would think that I'm moving in, for all my excitiement)..
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  #79  
Old Posted Mar 28, 2006, 5:56 PM
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Floorplan changes

One thing Brandon and I received from the Open House party last week were our finalized floorplans. Apparently, the architechs were able to shrink the core of the building and increased the size of many of the units. Many units get larger as they go up in the building. They also added 2 floorplans to Tower I (a variation of #12 and #5)

Brandon's condo (#5) was increased by about 10% and has been reconfigured. His balcony is now off the livingroom and sticks out from the building. His kitchen is now more centrally located as opposed to being tucked into the wall. My condo (#13) is actually 7 sf smaller. The balcony no longer goes out to a sharp point but is wider and not as deep (I'm not sure I like it but it is still a good size and I can live with it). My kitchen has been more centrally located with a nicer (more dramatic, in my opinion) entryway. I definitely like the layout more.
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  #80  
Old Posted Mar 28, 2006, 7:31 PM
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Originally Posted by SactownRob
From a reliable source involved in the deal that I just met last night. But I don't want to say who. You never know who's reading these boards, and I don't want to get them in trouble in case they weren't supposed to be talking about it yet...
That's very good to hear. Hopefully these storms will stop lining up so we can see some faster progress on this and the other projects.
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