Fred Seigel Boston Fred A. Seigel Beacon Capital Partners Boston 2004 DNC  2004 DNC Democratic Convention

  Fred Seigel Beacon Capital Partners

Fred Seigel Beacon Capital Alan Leventhal Boston Democratic Convention Boston Alan Leventhal Beacon Capital Partners


Fred Seigel - Beacon Capital Partners Boston... Fred Seigel - Active Democratic Party Member... Fred Seigel - 2004 Convention Committee Member Boston Host Committee... Fred Seigel -  President and Chief Operating Officer Beacon Capital Group... Fred Seigel - Board Member of The Pine Street Inn... Fred Seigel - Board Member of Back Bay Business Support Group...Fred Seigel - Energy Capital Partners;  Innovators in creative,affordable energy delivery and early advocate for energy self sufficiency for the USA... Fred Seigel -  Green energy awareness citizen for the United States of America

HOME PAGE:  Democratic Convention Guide Boston 2004

Home

 

Site Map & Directory

 

Volunteer Denver 2008

Where, What & How

Entertainment

DNC 2004 on WikipediA

Faneuil Hall Boston

Boston Irish Pubs

Boston Sightseeing

Democratic Candidates

Press - Election 2004

Advertising & Contacts

DNC 2004 National

DNC 2004 Boston

Convention 2004 Links

2008 Election Polls Blog

DNC 2004 Archive Blog

DNC Convention Guide

Boston College Guide

Boston Visitors Guide

 

Fleet Center Boston

 

About the Guide

 

Legal Disclaimer

Email

 

2004 Presidential Campaign George Bush & John Kerry

Bush/Kerry Presidential Campaign 2004

 

Boston Convention Host Committee DNC 2004 - Democratic Convention

Boston Convention Host Committee DNC 2004

 

Boston Nightclub News @ Boston Democratic Convention 2004

Bradley Liqours Boston - We Deliver!

 

CLICK HERE and Reserve Your Trolley Sightseeing Pass Today.

Boston Sightseeing Tours

Russo's Tuxedos and Formal Wear - Boston, Massachusetts

 

Golden Temple Restaurant Brookline MA...Fine Asian Dining and Entertainment

 

 El Coco Aveda Salon

Aveda Salon Boston

 

Common Cause Massachusetts

Common Cause MA

 

The Boston Visitor's Guide

 

CLICK HERE -  Currier & Chives Catering - Exceptional Food, Not Exceptions!

Democratic Convention Boston 2004

Committee Members

 

 

Beacon Hill Boston Services, Shopping

& Restaurant Guide

 

Boston Convention Host Committee DNC 2004 - Democratic Convention

Boston Convention Host Committee DNC 2004

 

The Boston Visitor's Guide

 

Boston Irish Pubs Guide

Boston Irish Pubs

 

LaLa Rokh Restaurant Beacon Hill Boston Massachusetts

Lala Rokh - Food to Please Your Soul

Click Here:  Alternate Convention Route

Avoid DNC Traffic Jams!

 

Overlooking John Kerry's Nantucket Island Home

Overlooking John Kerry

on Nantucket

 

Links Courtesy of:  Talon News

 

Channel 5 "The Boston Channel"

News Links Courtesy of: WCVB

 

Zogby Internation @ Democratic Convention Guide Boston 2004

Courtesy of: Zogby International

 

Boston Event Specialists - Contemporary Catering and Event Planning

Catering & Event Planning

 

CLICK HERE for more about Polcari's and Pizzeria Regina

 

Stop Internet Censorship

 

CLICK HERE and Reserve Boston's Most Exciting Whale Watch and Trolley Tour Package.  Don't be left out...
Whale Watch Packages Sell out Early.

Boston Whale Cruises

 

33 Restaurant & Lounge Boston Massachusetts Boston Convention 2004

 

Alan Leventhal/Fred Seigel

Fred Seigel Boston

Being bullish on Hub pays off for Beacon Capital

Being bullish on Boston has made

Alan Leventhal a very successful man.

Page 2 of 3 -- While others lament the current population decline, sluggish job growth, drain of signature companies, and high cost of living, Leventhal, founder of Beacon Capital Partners LLC, sees a city well positioned for the future.

His eight-year-old private real estate firm has invested successfully in Boston and in what he calls ``knowledge-based" cities like it around the country.

Beacon Capital paid $910 million for the John Hancock complex in 2003; one local broker estimates the Back Bay landmark is now worth as much as $1.5 billion. The company has just ventured abroad, buying $1 billion worth of property in London and Paris. ``That's two buildings," Leventhal said, laughing during a recent interview.

But that's the point: Beacon Capital's strategy is to go after valuable properties in key cities where land and top-quality buildings are few in number. With capital improvements, aggressive leasing, and the general escalation in the value of real estate, those properties should be more valuable in just a few years when they're sold.

This week, Leventhal again showed his faith in Boston, when he signed an agreement to purchase another prominent tower, One Beacon Street, from its New York owners for about $425 million, Rob Griffin, president of Cushman & Wakefield of Massachusetts Inc., confirmed yesterday.

Leventhal was already a success before Beacon Capital. His father, Norman Leventhal, started Beacon Cos. in 1946 and eventually changed the Boston skyline with its buildings, including the Rowes Wharf complex and One Post Office Square.

They took the family company public, and then sold it in 1997, for $4 billion. (The Leventhals are also prominent supporters of civic causes, including Combined Jewish Philanthropies of Boston, and the planned Center for Arts and Culture on the Rose Fitzgerald Kennedy Greenway.)

``Alan could have gone to the beach," said John P. Fowler, executive managing director of the investment consulting firm Holliday Fenoglio Fowler LP. ``But he has higher plans, and I continue to be amazed at how much money he can raise and how he deploys it."

Beacon Capital Partners' fifth investment fund, with an initial target of raising $1.75 billion, recently closed at $2 billion. Each of the company's previous funds also exceeded initial fund-raising goals. The objective on the new fund is to make an 18 to 20 percent return.

Past returns have been terrific. Its third fund had gross annual returns exceeding 50 percent; another, 35.3 percent. The overall average return is 30 percent.

``Thirty percent is phenomenal," said Hans Nordby, director of US market research and forecasting at Property & Portfolio Research Inc., a consulting firm in Boston. Indeed, real estate mutual funds, for example, had annualized total returns of about 15 percent over the last 10 years, according to the financial data firms Lipper and Morningstar Inc.

Beacon Capital's investors, numbering around 70, include endowments, pension funds, insurance and investment companies, and a few wealthy individuals. (Minimum investment is $10 million.) Beacon intends to leverage the $2 billion in the newest fund, by borrowing money, into purchases of about $8 billion worth of buildings.

Here's how a Beacon Capital fund works: Alan Leventhal and his team set a dollar goal and get commitments from investors, from $470 million in the first fund to $2 billion for the current one. They draw down pledged cash as they find the real estate buys in favored cities, including Boston, Washington, Los Angeles, San Francisco, and Seattle.

Beacon Capital's goal is to hold buildings about five years and sell them profitably, usually after making capital improvements or securing advantageous leasing deals. A lean staff of about 50 handles assessment of potential investors, property evaluation, investment strategy, and leasing. Most building management is contracted out.

Beacon Capital currently has a portfolio of about 26 million square feet, with an estimated market value of $8.7 billion. By contrast, said company president Fred Seigel, when Beacon Properties sold its 23 million square feet of property to Equity Office Properties in 1997, it had 550 employees.

Early last year Beacon Capital began looking to expand into Europe, where it foresees the same kind of appreciation it has received from US markets.

``They were introduced to us by some of our longstanding German investors," said James Goldsmith, director of international investment at the real estate firm Savills of London, which worked with Beacon Capital. ``They were very professional, very quick. They did everything they said they would do."

Beacon Capital has had some stumbles. A Dallas portfolio of office property from the first fund was sold for about a 14 percent loss after new, competitive space was built in the area. Even so, Beacon Capital posted a respectable 17 percent overall return on that fund.

``It was not a good investment decision," Leventhal said of the Dallas buildings, ``and it was not consistent with our strategy," which is investing where no one can easily come along and build something new.

Beacon Capital's target cities typically have good transportation, a liberal dose of cultural institutions, skilled jobs with high wages, and, in Leventhal's view, favorable demographics. ``Young, highly educated workers want to live in New York, Boston, the cities we invest in," he said.

``What made us successful in Boston and drove the Boston economy is what has made us successful today -- on the East Coast, the West Coast, in London and Paris," Leventhal said. These are ``high barrier to entry" cities, where if it's expensive and difficult to build new buildings, existing buildings become more valuable.

Leventhal's plan with his first fund, following the sale of the family company, was to invest, grow, and go public. But as the 1990s closed the ``market was weak," Leventhal recalled. Now, some competitors are speculating Leventhal will revisit the earlier plan to go public.

To this, Leventhal responded with an emphatic shake of the head, and a firm ``no."

Thomas C. Palmer Jr. can be reached at tpalmer@globe.com.  

1 2 3 Next Democratic Convention

Join the DNC Boston 2004 Guide mailing list

Email:

Democratic Convention Guide Boston 2004 - Subscribe NOW

Democrats 2004 DNC Boston Massachusetts Democratic National Convention

DNC Convention Guide Boston 2004 Home Page

 

*This website is not the official website of the 2004 Democratic National Convention and is neither affiliated with

nor endorsed by the 2004 Democratic National Convention Committee, Inc., the Democratic National Committee, Inc.,

Boston 2004, Inc., or Boston 2004 Host Committee, Inc.

 

Please Note: The Democratic Convention Guide Boston 2004 included the disclaimer above at the request of the

2004 Democratic National Convention Committee, Inc., the Democratic National Committee, Inc., Boston 2004, Inc.,

and the Boston 2004 Host Committee, Inc., and is in full compliance with its guidelines.
 

Nightclub Chicks | Nightclub Photographs | Miami Nightclub Photographs | LA Nightclub Photos | Las Vegas Nightclub Photographs | AEA

NYC Nightclub Photos | Montreal Nightclub Photos | Submit Photos | VIP Membership | Contests | Photographers Wanted | Body Art Photos Chicks Lipstick Chicks | Kissing Chicks | NH Nightclub Photos | Charlotte Nightclub Photos | Atlanta Nightclub Photos | Boston Nightclub Photos | Email

Rhode Island Nightclub Photos | Boston Nightclub News | Rhode Island Nightclub News | Faneuil Hall Boston | Boston Irish Pubs | Red Sox

Adult | Boston College Guide | New Hampshire Nightclub News | Boston Bachelorette Parties | Boston Bridal Shows | 18 Plus Nightclubs

Nightclub DJs | Democratic Convention | Boston Wedding DJs | Massachusetts Weddings | Booze Cruise | Advertise With Us! | Contact

Back to Top of Page - Boston Nightclub News

Powered by: Media Garage LLC and Boston Nightclub News - Boston MA 02111 - 02215 - 02108 - 2008

Don't Just Advertise...

2008 Media Garage LLC - All Rights Reserved