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Found 10 results

  1. (Courtesy of CNW) It should be open in the Spring of this year. I drove passed it, honestly it doesn't look at like it at all ready. They are setting up shop in the old Ferrari-Maserati dealership. At least now people don't have to go to Toronto or John Scotti to get their Rolls
  2. monctezuma

    Apple new HQ

    Foster’s Apple Headquarters Exceeds Budget by $2 Billion © Foster + Partners, ARUP, Kier + Wright, Apple The estimated cost of Apple’s Cupertino City headquarters has escalated from an already hefty price of $3 billion to $5 billion (more than $1,500 per square foot), reportedly pushing back the original completion date to 2016. According to Bloomberg, Apple is working with lead architect Foster & Partners to shave $1 billion from the “ballooning budget”. Most of the cost is seemly due to Steve Job’s “sky-high requirements for fit and finish”, as the tech legend called for the 2.8 million square foot, circular monolith to be clad 40-foot panes of German concave glass, along with its four-story office spaces be lined with museum-quality terrazzo floors and capped with polished concrete ceilings. Although lambasted for his ambitious plans and “doughnut-shaped” design, Steve Jobs wanted to create a masterpiece that looked as good as it functioned, just like his products. During a 2011 presentation to the Cupertino City Council, Jobs stated, “This is not the cheapest way to build something… there is not a straight piece of glass in this building.” He continued, “We have a shot… at building the best office building in the world. I really do think that architecture students will come here to see it.” © Foster + Partners, ARUP, Kier + Wright, Apple The spaceship-like headquarters, as Jobs would describe, is intended to accommodate more than 12,000 employees. It will be one of six visible structures planned for the 176 acre parcel - including the headquarters, a lobby to a 1000-seat underground auditorium, a four-story parking garage near Interstate 280, a corporate fitness center, a research facility and central plant - all of which will be accessed by a network of underground roads and parking lots, hidden by 6,000 trees. In addition, Jobs envisioned the campus to achieve “net-zero energy” by offsetting energy use with 700,000 square feet of rooftop solar panels (enough to generate 8 megawatts of power), along with additional contracts for solar and wind power, climate responsive window dressings, and more (additional project information, including plans and images, can be found here). © Foster + Partners, ARUP, Kier + Wright, Apple Despite the cost, Bloomberg states, “There’s no indication that Apple is getting cold feet.” Site excavation is planned to commence in June. In related news, Facebook’s quarter-mile-long West Campus by Frank Gehry was just awarded approval from city council. All the details here. Reference: Bloomberg
  3. La Compagnie de la Baie d'Hudson est rachetée par une entreprise privée, NRDC Equity Partners, propriétaire de la chaîne américaine LordTaylor, pour un montant qui n'a pas été précisé. Pour en lire plus...
  4. Microsoft to Open Stores, Hires Retail Hand By NICK WINGFIELD Microsoft Corp. said it hired a former Wal-Mart Stores Inc. executive to help the company open its own retail stores, a strategy shift that borrows from the playbook of rival Apple Inc. The Redmond, Wash., company said it hired David Porter, most recently the head of world-wide product distribution at DreamWorks Animation SKG, as corporate vice president of retail stores for Microsoft. In a statement, Microsoft said the first priority of Mr. Porter, who is also a 25-year veteran of Wal-Mart, will be to define where to place the Microsoft stores and when to open them. A Microsoft spokesman said the company's current plans are for a "small number" of stores. [microsoft store and retail concept] Microsoft In a warehouse near its Redmond, Wash., campus, Microsoft created mockups for how Microsoft products might be displayed either in its own stores or in a retailer's. [microsoft store or retail concept] Microsoft It remains to be seen whether the effort can add some pizzazz to Microsoft's unfashionable image, which Apple has sought to reinforce with ads that mock its competitor. Mr. Porter, in a statement, said there are "tremendous opportunities" for Microsoft to create a "world-class shopping experience" for the company's customers. "The purpose of opening these stores is to create deeper engagement with consumers and continue to learn firsthand about what they want and how they buy," Microsoft said in a statement. The move is a sign of the deeper role consumer-technology companies are playing in the retail business, despite the many risks of straying from their traditional businesses of making hardware and software. Apple, of Cupertino, Calif., encountered widespread skepticism when it first began opening its own retail stores in 2001. Eight years later, though, Apple's chain of more than 200 stores around the world are widely credited with helping the company boost sales of its Mac, iPod and iPhone product lines. The Apple stores, with their eye-catching architecture, highly-trained sales staff and "genius bars" that provide technical support, gave Apple a way to showcase its products in an environment where they weren't lumped in with a gamut of other electronics items. Sony Corp. and Bose Corp. also operate their own stores. At the same time, some large electronics retailers have fallen on hard times amidst the weakening economy. CompUSA Inc. last year closed most of its retail stores, while Circuit City Stores Inc. is in the process of shutting down all of its stores and laying off more than 30,000 employees. Microsoft has long flirted with the idea of doing its own store, even as it has tested ways that retail partners can better sell Microsoft products. In a 20,000-square-foot warehouse near its campus in the suburbs of Seattle, Microsoft has tested various retail concepts, complete with shelves displaying Xbox games and big computer monitors with touch-sensitive screens. Key details about Microsoft's retail plans still need to be worked out, though. Microsoft said the stores could feature a range of products from personal computers running its Windows operating system to cellphones running the company's Windows Mobile operating system to its Xbox videogame console. One of Mr. Porter's tasks will be to figure out whether to actually sell computers rather than merely show off their features. Any decision that favored some PC makers and left others off store shelves could anger some hardware partners. Stephen Baker, an analyst at NPD Group Inc., which tracks retailers, said Apple doesn't face the dilemmas Microsoft will in the retail business because Apple makes the hardware and software for its products. "That's going to be a big challenge for Microsoft," Mr. Baker said. A spokeswoman for Hewlett-Packard Co., one of Microsoft's biggest hardware partners in the PC business, declined to comment on Microsoft's retail strategy. Spokesmen for Dell Inc. didn't respond to requests for comment. Microsoft's store plans could also irk existing retail partners like Best Buy Co., on whom Microsoft is especially dependent for sales to consumers. Best Buy representatives didn't return calls requesting comment. Microsoft said it will share the lessons it learns from its own stores with other retailers. The failures of other stores opened by technology companies will loom over Microsoft as it launches its stores. In 2004, computer maker Gateway Inc. shuttered a network of more than 188 company-owned retail stores after weak sales. Microsoft itself operated a Microsoft store inside a movie-theater complex in San Francisco beginning in 1999, but two years later shut down the store -- which showcased, but didn't sell, Microsoft products.
  5. Google Pairs With Sony, Best Buy, DISH On TV Aaron Baar, May 20, 2010 01:58 PM First, the Web. Then the phones. Now Google wants to change the way people watch television. At a developer's conference on Thursday, Google announced it would develop an open platform to bring the World Wide Web to the television, and it has enlisted partners such as Intel, Sony, Logitech, Best Buy, DISH Network and Adobe to help. The new product, Google TV, is based on the company's Android mobile platform and runs the company's Chrome browser. IT will allow users to access traditional TV channels as well as Internet content, including Adobe Flash video. Both Logitech and Sony have committed to creating products using Intel's Atom processor and the Google TV platform later this year, to be sold through Best Buy locations. Though the product can be used with any TV operator, Google said the experience will be "fully optimized when paired with DISH Network" at the product's launch. "We are very proud to be working with this distinguished set of partners, all of whom have decades of experience in hardware, design and retail," Eric Schmidt, Google Chairman and CEO, said in a statement. http://www.mediapost.com/publications/?fa=Articles.printFriendly&art_aid=128632
  6. NRDC Equity Partners détient déjà 20% de La Baie, une participation acquise en 2006. Le fonds avait des liens étroits avec Jerry Zucker, défunt propriétaire de HBC. Pour en lire plus...
  7. http://www.montrealgazette.com/business/Saputo+cent+stake+Life+building+reports/10195809/story.html Ivanhoe Cambridge, the real-estate arm of the Caisse de dépôt et placement du Québec, apparently has found a buyer for the 50 per cent stake in the Sun Life building that it put on the market earlier this year. Published reports Thursday identified the buyers as Montreal’s Saputo family and partners, and the transaction price at $140 million. The Caisse’s real-estate division reportedly acquired its stake for $64 million. Ivanhoe Cambridge has shared ownership of the Metcalfe St. building with insurer Sun Life since 2000. © Copyright © The Montreal Gazette
  8. Macklowe’s Worldwide Plaza Successor Wrestles Towering Dilemma By David M. Levitt Oct. 23 (Bloomberg) -- Real estate investor Peter Duncan, who negotiated the nation’s biggest property deal of the year in buying Manhattan’s Worldwide Plaza, is now in charge of a skyscraper that’s 40 percent empty. The Italian marble south lobby of Worldwide Plaza, the gateway to 14 vacant floors, is quiet. It’s one reason Duncan, president of George Comfort & Sons Inc., was able to buy the 49- story building in July for $590 million, two years after it sold for almost three times as much. The purchase price may allow Duncan to undercut the rents competitors charge as he leases his 709,000 square feet. Manhattan has 59 million feet of available offices, according to brokerage Colliers ABR, the most since June 1996, and rents for the best space are down more than 30 percent from their peak last year. Duncan’s outcome may help investors determine whether it’s time to resume buying New York office buildings. “They are one of the first waves of risk-takers here in this asset recovery business,” said Robert Freedman, executive chairman of New York-based brokerage FirstService Williams. “They made a great deal if they can manage this risk.” Pinched by scarce credit and the recession, New York City may hit a record low dollar value for commercial property sales this year. Manhattan office properties have lost almost 47 percent of their value since 2007, more than any other major U.S. city, according to the Concord Group, a consulting firm in Newport Beach, California. Investor Signal If Comfort and its partners lease the space at 825 Eighth Ave. quickly, it will be a “signal for investors” that could increase their appetite for risk, said Jim Frederick, a principal at Colliers ABR, a New York-based commercial broker. Not a single lease for more than 250,000 square feet in Midtown has been signed this year, according to CB Richard Ellis Group Inc., the world’s biggest commercial brokerage. Tenants have plenty to choose from. Just eight blocks south at Eighth Avenue and 42nd Street is 11 Times Square, a new 1.06 million square-foot office tower that’s almost finished and has no tenants. Just up the street is 3 Columbus Circle, the former Newsweek Building, where 417,000 square feet is available, according to Colliers. Six blocks southeast lies the former New York Times building, where all 644,000 square feet is up for lease. Comfort’s advantage may be price. The partnership paid $370 a square foot for Worldwide Plaza, while competitors paid $1,000 a foot or more for similar buildings at the height of the five- year U.S. property boom. Rents Fall “No longer will they have to get $80 or $90 or $100 a square foot” for a lease, Robert Sammons, research director at Colliers, said in an Aug. 20 interview on Bloomberg Television. “They can do deals in the 30s, 40s or 50s now, which is going to help start to move the market.” Rents for so-called Class A Midtown offices averaged $68.38 a square foot at the end of September, according to Colliers data. The law firm Cravath Swaine & Moore LLP agreed to pay almost to $100 a foot when it renewed its 600,000-square-foot lease at Worldwide Plaza in 2007, a person involved in the transaction said at the time. “I look at the vacancy as being an opportunity,” said Duncan, whose company owns or has interests in eight other New York office properties. “The success of any deal is dependent on how well occupied you keep your buildings.” Comfort, a closely held family-owned company, and its partners set aside “in excess of $100 million” to cover leasing costs, including maintenance and a reserve to renovate for new occupants, Duncan said in an interview. He declined to disclose the building’s expected first-year yield, or capitalization rate. Higher Vacancies The vacancy rate for the highest-quality offices in Manhattan was 12 percent in September, near the highest in more than 12 years, Colliers said. Tenants haven’t been in a better position since the mid-1990s, when the market was coming out of a recession, Sammons said. Duncan’s challenge is the latest for a skyscraper that helped gentrify part of the west side in the 1980s. Built on the old 50th Street site of Madison Square Garden, it was the first sizable skyscraper built that far west in Manhattan. A PBS program, “Skyscraper: the Making of a Building,” documented the construction. William Zeckendorf Jr. developed the property. It was the first New York commission for Skidmore Owings & Merrill architect David Childs, who went on to design the nearby Time Warner Center. Macklowe’s Purchase Developer Harry Macklowe purchased Worldwide Plaza and six other Manhattan buildings from Blackstone Group LP in February of 2007, the same day Blackstone bought billionaire Sam Zell’s Equity Office Properties Trust in what was then the biggest leveraged buyout in history. A year later, Macklowe lost all seven properties to lender Deutsche Bank AG when he was unable to refinance almost $7 billion in short-term debt he used to acquire the buildings. Deutsche Bank financed a $470 million loan for Comfort’s group to make the purchase. The partners include RCG Longview, an investment firm whose founders include former Shearson Lehman Brothers Inc. Chief Executive Officer Peter Cohen; and DRA Advisors LLC, a New York-based sponsor of real estate investment funds. “We wanted to put together a group that has been through the wars a little bit,” Duncan said. The partners “are all long-term holders of real estate.” The floors they need to rent make up the second-biggest empty space in the city: 14 stories at the base of the tower vacated in June by the advertising firm Ogilvy & Mather. Empty Space While some floors have been stripped to the fireproofing, traces of the ad agency remain. The walls on the fourth floor are covered with artwork, including a red and black 1960s-style pop-art mural that reads: “Next time there’s a war for sale, it’s alright to say no thank you.” Representatives of accounting firm Deloitte LLP have spoken with Comfort about taking some of the space, according to two people familiar with the discussion. They declined to be identified because they weren’t authorized to speak publicly about the space. Jonathan Gandal, a spokesman for Deloitte, declined to comment. “We’ve had lot of people look at the available space,” Duncan said. “We are actually discussing having active negotiations with certain tenants. And that and $2.25 gets you a ride on the subway.” To contact the reporter on this story: David M. Levitt in New York at [email protected] Last Updated: October 23, 2009 00:01 EDT http://www.bloomberg.com/apps/news?pid=20601103&sid=aJG1.l7fPiik
  9. Le plus important producteur d'électricité en Alberta, a reçu une proposition d'achat de la part de LS Power Equity Partners et Global Infrastructure Partners. Pour en lire plus...