kanbar and kaufman: what gives? UT link

[brunoflipper]

so here we have a recent article from yesterdays UT waking up the echoes
and they allude to the fact that we still are waiting for K&K's plans... do K2 have any PR entity working locally? doing anything? the silence is starting to become concerning...


and i hate to mention it but (i know i'm throwing aoxamaxoa a bone here) there are the rumors of a falling out... that the two are maintaining their corporate relationship but that something is amiss... to fan the flames, kaufman is rumored to have become less than enamored with the once grand plans for tulsa and the entire project may be in jeopardy...

i can take it, someone with some information to the contrary debase my rumor... however, i have heard this from more than one reputable source...

[brunoflipper]

tw story

"Downtown Investment: Kaufman Steps Aside: Kanbar forms firm to handle properties
By ROBERT EVATT World Staff Writer
2/8/2007

Maurice Kanbar has formed a new property management firm to oversee his 16-building downtown Tulsa portfolio, and Henry Kaufman has relinquished his duties as the California investor's on-site representative.

Rachel Warren, chief operating officer of Kanbar Enterprises in San Francisco, now travels to Tulsa for a week each month on Kanbar's behalf to gather input and coordinate efforts to transform the buildings into a mix of offices, loft apartments, retail stores, restaurants, art spaces, nightclubs and other entertainment facilities, as Kaufman once did.

Kanbar Properties, which employs 55 people and is still growing, was created this year to assume management duties from the four entities that previously managed the portfolio, said Cary Phillips, vice president of Kanbar Properties.

"We've had so much interest in the buildings that we're having to hire a leasing coordinator," he said. "This shows we're here to stay."

Although Kaufman was described as Kanbar's business partner in media reports last year when the two men entered the local market, Kaufman's role always was to be an adviser during the initial purchases, Phillips said.

"Kaufman was never intended to be involved after the acquisition of the portfolio," Phillips  

said.

Kanbar is the sole owner of the Tulsa properties, Phillips said. The California inventor and philanthropist spent an estimated $108 million on 2.2 million square feet over the course of six months.

Now, he has formed Kanbar Properties to streamline the management process.

"Once he got all the properties, he decided to take a step back and see what would be best for the portfolio," Phillips said.

Phillips and Clint Baranowski, another vice president at the company, were hired from Intervest Properties and Transwestern Commercial Services, respectively. Intervest and Transwestern were two of the companies that formerly managed buildings in the portfolio, along with Coury Properties and Bauer Properties.

Phillips said Kanbar's plan to develop his buildings to help transform downtown Tulsa into a round-the-clock haven for living, working and entertainment continues to progress -- albeit slowly.

"We're just now beginning to find the highest and best use for each of the properties," Phillips said.

In addition to the portfolio's sheer size, Phillips said the company is taking care to formulate a strategy that integrates well with other downtown developments, such as the BOK Center arena, the growing Blue Dome District, and the proposed East End district, which would also bring more retail establishments downtown.

Phillips said he, Baranowski and Warren continue to talk to other downtown business and building owners, and that interest in developing the area continues to build though few tangible developments have arrived.

"The dam's about to break, but we don't know what will be the first domino to fall," he said.

Last year, Kanbar razed the two smallest buildings in his portfolio -- the Cordell Building at 417 S. Main St. and the McBirney Building at 419 S. Main St. -- after local inspectors determined that their interiors were dilapidated and unsafe.

Phillips said Kanbar's master plan for the portfolio isn't yet finalized, though the company is already bringing new tenants to the buildings. Approximately 65,000 square feet in new office leases and expansions have been signed, while two new restaurants have been announced, with two more in final negotiations.

The two announced restaurants include Soranno's Italian Caffe and Coffee House, which opened in First Place Tower late last year, and Kokoa Kabana, which is scheduled to open in the Philcade Tower within the next 30 days.

CB Richard Ellis/Oklahoma continues to manage the search for retail tenants, with Guild Co. handling office leases.

Downtown apartments are still a priority for the portfolio, though discussions are ongoing, Phillips said.

The city of Tulsa granted $1.3 million to $1.5 million in Vision 2025 sales tax funds for Kanbar's proposal for apartments within the Transok Building early last year, though construction has yet to begin.

Phillips said the continuing negotiations over the best uses for the building could move the apartments to a different building in the portfolio, though nothing has been determined.

He said there's no timetable for the announcement of final, specific plans for the Kanbar portfolio, though Kanbar remains committed to fulfilling his promise for a more vibrant downtown.

"He really feels there's something different about Tulsa," Phillips said. "He's got a burning desire to make the portfolio the best it can be."




so yeah the falling out was true...


there (obviously on the left) is kanbar's mrs warren

[sgrizzle]

Sounds like possible good news.

[Rico]

Thank You "El Presidente".....

By the way.. the Foil hat is working very well.........

[}:)]

[aoxamaxoa]

Bruno! Thanks for the bone.

" i have heard this from more than one reputable source..." must not be me.....

[waterboy]

Sgrizzle, that guy in the middle of the picture next to Warren....isn't he the guy who bought us lunch?

[sgrizzle]

quote:Originally posted by waterboy

Sgrizzle, that guy in the middle of the picture next to Warren....isn't he the guy who bought us lunch?

Looks kinda like it. I'm not great with faces though.

[brunoflipper]

quote:Originally posted by waterboy

Sgrizzle, that guy in the middle of the picture next to Warren....isn't he the guy who bought us lunch?

who bought you lunch and where?

[waterboy]

quote:Originally posted by brunoflipper

quote:Originally posted by waterboy

Sgrizzle, that guy in the middle of the picture next to Warren....isn't he the guy who bought us lunch?

who bought you lunch and where?

Check the thread about the informal lunch all members were invited to today.