(38 Total References)
Village president Anan Abu-Taleb joined ...
Village president Anan Abu-Taleb joined Lake and Forest developers for a ceremonial groundbreaking Thursday. Pictured, from left to right: Gary Thalheimer, Tishman Construction; Clay Iman, Wood Partners; Michael Glazier, Golub & Co.; Anan Abu-Taleb, Village of Oak Park; Lee Golub, Golub & Co.; Gene Golub, Golub & Co.; and Tim McEntee, Wood Partners. | Photo courtesy village of Oak Park
Pictured, from left to right: Gary Thalheimer, Tishman Construction; Clay Iman, Wood Partners; Michael Glazier
, Golub & Co.; Anan Abu-Taleb, Village of Oak Park; Lee Golub, Golub & Co.; Gene Golub, Golub & Co.; and Tim McEntee, Wood Partners
. | Photo courtesy village of Oak Park
"It was a long journey to get to today's groundbreaking, but we know this project will enhance downtown Oak Park and generate economic and community benefits for the village," said Michael Glazier, senior vice president at Golub, at the ceremony, which drew a crowd of about 75 attendees.
"It's imminent," said Michael ...
"It's imminent," said Michael Glazier, senior vice president of development with Golub & Company, the Chicago-based firm now in control of the project.
said the group is close to capturing financing for project, which envisions 270 apartments, 25,000 square feet of commercial space and a 588-space parking facility that will replace the current village garage on the parcel, at the northeast corner of the intersection.
On Monday, Glazier
said that Golub
expects to close on a financing agreement with an unnamed institutional investor "in the next week or so.
The firm also has funding in place through a joint venture with Atlanta-based Wood Partners
"We are furiously working on all the legal documentation and permits in order to get going," he
Golub and Wood are negotiating ...
Golub and Wood are negotiating to secure equity financing with three firms, including a multi-family fund that has agreed to underwrite the project and whose investment committee has approved the proposal, said Michael Glazier, a partner in Lake Street Investors and senior vice president of development for Golub.
The multi-family fund, which has requested anonymity, reviewed the project and is interested in investing, Glazier
and Wood are waiting only for a list of the specific terms of the package, he
"They have to issue a term sheet and it has to be agreed to by us as to their commitment the project," Glazier
"They're in the process of finishing that."
declined to predict an outcome, but seemed confident the partners will meet Oak Park's
Feb. 28 deadline.
"If it didn't look good, we would throw in the towel," he
has told Oak Park officials verbally that he
believes the group will be able to meet the deadline, village Business Services Manager Loretta Daly said in a memo presented to the Village Board Monday.
Equity financing is "at-risk money" provided by an institutional investment firm that will earn a profit if the project succeeds, Glazier
"It involves institutional investors like insurance companies and pension funds," he
"It's a very vigorous process.
They have to be satisfied with the parameters that go into this."
The equity investors co-invest as joint partners, but do not take part in the development process, Glazier
"We are all collectively at risk," he
Sertus' Michael ...
Sertus' Michael Glazier, who has been involved with the project since the beginning, worked for Golub before moving to Sertus.
said with respect to the "spirit" of the project thus far, "Lake Street
Investors has made all the expenditures and investments… A million and a half dollars is a significant commitment."
Golub & Company, an international commercial real estate company.
Eugene Golub, Chairman | Michael Newman, President and CEO | Lee Golub, Executive Vice President | Michael Goldman, Senior Vice President/ Acquisitions | John Ferguson, Senior Vice President/ Leasing and Marketing | Paul Mertz, Senior Vice President/ Asset Management | Paula Harris, Senior Vice President/ Residential Asset Management | Bruce Armstrong, Director of Development Services | William Murray, C.P.A., Controller | Michael Glazier, Managing Director, Golub-Europe, L.L.C. | Rob Mathias, Director of Marketing and Leasing, Golub-Europe, L.L.C. | Norman Sherran, Director, Construction Management, Golub-Europe, L.L.C. | Jens Gloyer, Director of Design and Construction, Golub-Europe, L.L.C. | Stein Knutsen, Direction of New Business Development, Golub-Europe, L.L.C.
...Michael Glazier, Managing Director, Golub-Europe, L.L.C.
...Michael Glazier, Managing Director
Based in London, Michael Glazier
has played a key role in Golub-Europe's
expanding development and investment activities in Central and Eastern Europe and Russia.He
oversees the company's ongoing operations and continues to seek new opportunities for development, investment and real estate advisory services in the emerging markets.