Sacramento Forward LLC Submits Statement for Qualifications to City of Sacramento Parking Assets RFQ

Sacramento Sacramento Forward LLC today announced it has submitted a Statement of Qualification to the City of Sacramentos Request for Qualifications (RFQ) for the Citys Parking Assets.
The Consortiums innovative Public Steward Structure provides a financing approach based on the Public Asset Optimization program (PAO Program) that permits the City to achieve key objectives for its Parking Assets transaction, including 1) optimization of upfront monetary value, 2) immediate improvements and growth in long-term value, 3) support of economic development, and, 4) delivery of exceptional services to the Citys parking customers.

Public assets have value that can be unlocked for the benefit of the community while providing quality and service to its users, said Chandra R. Patel of Antarctica PAO Partners, LLC (and its affiliates, Antarctica), a member of the Consortium.

Formed to offer the City of Sacramento a best in class partner, Sacramento Forward, LLC includes: one of the largest real estate investment management firms in the world, CBRE Global Investors; the largest parking operator in the United States, Standard Parking Corporation; the top municipal underwriter in California, Stone & Youngberg; the winning bidder for the State of Californias sale of a $2.3 billion portfolio of office buildings, Antarctica; and a Joint Powers Authority that has 150 California municipalities and counties as members, California Municipal Finance Authority.

Members of the Consortium have a proven track record of executing the anticipated transaction structure, implementing the operational and capital improvements required for achieving the Citys objectives, and ensuring excellent stewardship of the Citys Parking Assets.

 Our team brings together a highly qualified group with a strong record of success operating and optimizing public assets, and working in partnership with municipalities like Sacramento, said Mr. Patel. We bring a unique approach that is labor-friendly and utilizes the value of the Citys assets for the Citys benefit while preserving them for future generations of Sacramentans.

A unique aspect of Sacramento Forward LLCs approach is the Public Asset Optimization (PAO Program), an innovative financing and asset management solution for government entities that seek to unlock and optimize the value of real estate related assets.

The PAO Program allows for the capture of unlocked value in government assets while recognizing that governments have differing goals and concerns when they approach the monetization or value enhancement of their assets.

The PAO Programs flexibility from a capital structure perspective and its innovative application of financing techniques, such as the Public Steward Structure, permit the optimization of governmental asset value realization and the potential for asset-related revenue growth within the confines of all stakeholder concerns.

An affiliate of Antarctica PAO Partners, Antarctica Capital Real Estate, LLC (ACRE), led the winning bid in the Golden State Portfolio (GSP) transaction in 2010. The GSP transaction was the $2.3 billion sale-leaseback of a portfolio of 7.3 million square feet of office buildings by the State of California. ACRE is currently in the process of working with the State to apply the PAO Program to the GSP portfolio.

Stone & Youngberg (S&Y), a Division of Stifel Nicolaus, has worked with state and local governments to underwrite municipal bonds funding for a wide range of public facility projects and public infrastructure. S&Y has been a member of the City's approved underwriting pool for the past 20 years and has served as sole, lead, co-lead and co-manager on numerous City financings throughout its engagement.

Standard Parking Corporation (Standard) is a leading national provider of parking facility management services and provides on-site management services at multi-level and surface parking facilities for all major markets of the parking industry. Standard manages parking facilities containing more than one million parking spaces in hundreds of cities across the United States and Canada. Standard has a diversified client base which includes some of the nation's largest private and public owners.

CBRE Global Investors is a real estate investment management firm with $94.8 billion in assets under management as of September 30, 2011. An independently operated affiliate of CBRE Group, Inc., the firm sponsors investment programs across the risk/return spectrum for investors worldwide. It has completed over $38 billion in acquisitions, $8 billion in portfolio transitions and $18 billion in dispositions since 2004.

California Municipal Finance Authoritys (CMFA) mission is to support economic development, job creation and social programs throughout the State of California while giving back to California communities. By supporting member communities and local charities with a portion of the revenue generated through the issuance of taxable and tax-exempt bonds for public, private and non-profit entities, CMFA is able to directly contribute to the health and welfare of the residents of California.

Advisors to Sacramento Forward LLC or its members include DLA Piper, as counsel to the Consortium and Squire Sanders as Bond Counsel.

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