Apollo's Neibart to speak at B'nai B'rith luncheon.Lee S. Neibart, partner in Apollo Real Estate Advisors, will speak at the B'nai B'rith B'nai B'rith (bənā` brĭth) [Heb.,= Sons of the Covenant], oldest and largest Jewish service organization in the world, founded (1843) in New York by American Jews "to provide service to their own people and to humanity at large. Real Estate luncheon on Wednesday, April 7th from noon to 2 p.m. at the Cornell Club at 6 East 44th Street. The topic of the luncheon is "Investing in Publicly and Privately Owned Real Estate Companies Determining Perception Versus Reality Before Its Too Late." Apollo Advisors, headed by the financier Leon Black, is one of the largest and most active private real estate investment firms in the nation, having purchased significant interests in both private and public real estate companies. One of Apollo's most recent acquisitions was the $3 billion bailout plan of Patriot American Hospitality, a failing real estate investment trust that will be converted into a traditional corporation. "Apparently, the falling stock price combined with excessive debt and the recent illiquidity in hotel financing led to Apollo's bailout opportunity," said Joel Breitkopf, president of B'nai B'rith Real Estate. Apollo and its partners will invest up to $1 billion in Patriot and will receive a sizable ownership stake in the company. Patriot's main hotel chain is the luxury Wyndham hotels. Apollo beat out an aggressive offer from the Hilton Hotels Corporation Hilton Hotels Corporation (NYSE: HLT) is one of the leading global hospitality companies. As of April 2007 there are 2,645 hotels and 485,000 rooms employing 105,000 people in more than 80 countries. . "Apollo is an opportunistic investor on a large scale whose strategies and investments typically portend por·tend tr.v. por·tend·ed, por·tend·ing, por·tends 1. To serve as an omen or a warning of; presage: black clouds that portend a storm. 2. shifts and trends in real estate that could serve to help lenders, lawyers, brokers and developers alike stay ahead of the curve," said Breitkopf. Neibart has been partner in charge of portfolio and asset management since 1993 and serves on the Investment Committee, while overseeing day-to-day management of one of Apollo's largest investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company . From 1989 to 1993, Neibart was Executive Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Robert Martin Company, a real estate development and management firm with a portfolio of approximately 7 million square feet of commercial real estate. Neibart is a director of Atlantic Gulf Communities Corp., a land development company; Koger Equity, Inc.; Meadowbrook Golf Group, Inc., a golf course manager, developer and owner; Metropolis Realty Trust, Inc.; and NextHealth, Inc., an owner and operator of spa and wellness facilities. He is also past president of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Chapter of the National Association of Industrial and Office Parks. Neibart received a BA from the University of Wisconsin and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the . Call Daniel Shahrabani at (212) 885-8475 to secure your reservation. Send a $40 check payable to B'nai B'rith Real Estate to Daniel Shahrabani, c/o BDO Seidman, 330 Madison Avenue, New York, NY 10017. Admission at the door is $50. |
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