Broe Adds Real Estate Veteran in San Francisco to Acquire $250 Million Worth of Properties.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--April 16, 2003 The Broe Companies has hired real estate veteran Tom Bracken as Managing Director of its San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden office. Mr. Bracken will focus on real estate acquisition activities on the West Coast, with an emphasis on San Francisco and the Bay Area, as well as sourcing investment opportunities nationwide. Mr. Bracken is leading the effort to actively acquire more than $250 million worth of investment opportunities in San Francisco and the Bay Area within the next 18 to 24 months. Broe currently owns office, industrial, retail and residential properties and senior retirement communities in Denver, San Francisco, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Chicago, Dallas, Houston, Cleveland, Cincinnati, Ft. Lauderdale, Jacksonville, Richmond, the Omaha/Lincoln area, and three Canadian provinces. "San Francisco is a marketplace with a number of hidden values Hidden Values Assets that may be undervalued on a company's balance sheet and therefore not incorporated into or reflected in the company's share price. Notes: Hidden values can be in the form of assets such as patents, trademarks, or undervalued real estate. and we intend to put a tremendous amount of time and effort here in uncovering those opportunities," said Tom Bracken, Managing Director for Broe in San Francisco. "My main market will be San Francisco and the Bay Area; however, I will also be concentrating on investment opportunities in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern and nationwide." The Company purchases fee and leasehold commercial real estate, performing and non-performing loans, workouts, foreclosures and underperforming situations. It buys general partnerships and limited partnerships, makes mezzanine loans and essentially finds creative ways to enter investments. Broe works with major financial institutions like GE, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance , Fidelity Real Estate Group, The Crown Investment Corporation in Canada, and others. Mr. Bracken joins Broe from L.J. Melody & Co. where he was a first vice president and manager of the Silicon Valley office. Prior to that, Bracken was with ORIX, where he was head of the real estate finance group. Mr. Bracken was also president of USL (UNIX System Laboratories, Inc.) An AT&T subsidiary formed in 1990, responsible for developing and marketing Unix. In 1993, USL was acquired by Novell and merged into Novell's UNIX Systems Group (USG). See Univel. 1. , Ford Motor's real estate financing group. Under Bracken's leadership, Ford Motor's portfolio grew from $200 million to more than $1 billion. Mr. Bracken graduated with a B.S. from Yale and completed his MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration at Columbia. About Broe The Broe Companies, Inc., based in Denver, Colorado, invests in all types of commercial real estate. Broe currently owns office, residential, retail, and industrial properties throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Broe also provides property management, leasing, and asset-management services to owners and lenders. Broe buys companies and makes investments in companies, corporate debt, and bankruptcy situations through Broe Growth Capital; it invests in the transportation sector and associated businesses through its OmniTRAX affiliate, the largest privately owned railroad company in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ; it operates in the medical-device field through McKinley Medical, designer of one of the world's leading pain-management pumps; it invests in the energy sector through PrairieSun Energy; and it owns and operates retirement communities through Aspen Retirement Corporation. Broe is aggressively seeking new business opportunities. For more information, please visit our web site at: www.broe.com. |
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