Mike White This is Me

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1. 1. HFFLP.com : Contact

   www.hfflp.com/contact/location - [Cached]

   Published on: 4/26/2008   Last Visited: 4/26/2008

   Mike White - Managing Director t (949) 798-4112 f (949) 253-8810 mjwhite@hfflp.com

2. 2. www.housingfinance.com

   www.housingfinance.com/aft/art - [Cached]

   Published on: 5/1/2007   Last Visited: 5/4/2007

   These investors tend to offer the most attractive terms to developers who have strong reputations in their markets and who can demonstrate exceptional cost-controlling expertise, said Michael White, a managing director with Holliday Fenoglio Fowler in Irvine, Calif.
   
   Now that exit strategies might have to run seven years or more to produce an attractive yield, equity joint venture partners value expense-efficient development and operational expertise more than ever, said White. "Capital managers are drawn to where they can expect tight control over expenses," he said.
   ...
   While IRR hurdles were typically in the mid or high teens just a few years back, today promotes tend to hit the 50-50 profit-sharing point once investors receive yields amounting to 12.5 percent to 13 percent, White said. In cases where the capital manager is particularly intent on investing with a top player in a highly coveted marketplace, partners might go even lower and structure ventures providing a 50-50 promote after investors receive an IRR of just 11 percent to 12 percent.
   
   White cited a recent transaction through which a "major pension fund" formed a venture with a well-known apartment developer to pursue a project requiring $50 million in equity.
   ...
   As a result, many equity pools are targeting markets with good demographics and strong supply-demand fundamentals, such as Seattle, Denver, and Austin, Texas, White said. And some are seeking development partners with expertise in product niches such as student and military housing, as well as affordable developments.
   ...
   Few institutions are willing to risk investing in a development joint venture before allowed uses and densities match the planned project, said White.

3. 3. Hotel-Condo Hotshot

   www.weberthompson.com/coverage - [Cached]

   Last Visited: 4/15/2007

   SEPTEMBER 26, 2005 -- San Diego -- Interest rates beyond the next six months can be highly volatile because of international influences on the domestic economy, warned Mike White, managing director at Holliday Fenoglio Fowler. White was speaking during the session "Thriving in a Rising Interest-Rate Environment" at MHN's Multi-Housing World conference and trade show in mid-September.