8A — October 14 - 27, 2016 — Title/Insurance — M id A tlantic
Real Estate Journal
www.marejournal.com
T itle /I nsurance Capacity Excess LLC
Prominent Properties ® provides preferred real estate general liability insurance
rominent Properties is an exclusive program for real estate owners and managers. It provides the general liability insur- ance for preferred real estate, but provides an incentive for property owners to earn back up to 30% of their gen- eral liability premiums. The premium savings comes from an innovative approach by creating a pre-funded Self Insured Retention (SIR) ac- count. To the extent it is not used to pay claims (including LAE) it is returned to the cli- ent. This is very similar to a dividend type approach. P
Prominent Properties was developed by insurance, banking and real estate ex- ecutives and thought lead- ers. They wanted a modern, simplistic approach to insur- ance that truly rewarded real estate owners and managers by aligning everyone’s inter- ests. The general liability policy is available to insureds that have a track record of good loss experience, and want to be incented to recoup premiums for well managed properties. The SIR fund will be a percentage of the other- wise “first dollar” premium that would be charged for
the risk. The percentage of premium will be 30% for all states, with the exception of New Jersey (20%) and New York (10%)*. This is the most cost effective way to insure your better properties. The policies are underwrit- ten by Hamilton Specialty Insurance Company and Attune Insurance, which are backed by insurance and hedge fund leaders American International Group and Two Sigma. Loss Control and Claim are provided by York Company; a national leader in insurance loss prevention and claim service excellence.
Let us reward you for main- taining an excellent loss record and risk management discipline. To see if you further qual-
ify, visit us at Prominent Properties and learn more about eligibility, program advantages and a quick ap- plication to get started. n
Barings Real Estate Advisers completes acquisition of ACRE Capital Holdings
CHARLOTTE, NC — Barings Real Estate Ad- visers , formerly known as Cornerstone Real Estate Advisers , one of the world’s largest real estate-focused investment managers, an- nounced that it has complet- ed its acquisition of ACRE Capital Holdings LLC , the
parent company of ACRE Capital LLC (“ACRECapi- tal”) , the agency lending sub- sidiary of Ares Commercial Real Estate Corporation . The ACRE Capital platform will be renamed as Barings Multifamily Capital and will be a subsidiary to Barings Real Estate Advisers. The transaction, valued at $93 million, was previously an- nounced on June 29, 2016. “The acquisition of Barings Multifamily Capital is a dem- onstration of Barings’ ability to source not only direct real estate investments but also attractive real estate oper- ating company investments for our clients. The array of capital solutions that we can provide within the multifam- ily and healthcare sectors positions us very well to al- locate capital up and down the capital stack and grow the coverage and expertise in an important property sector for Barings Real Estate Ad- visers,” said Scott Brown , global head of real estate at Barings. Barings Multifamily Capi- tal originates and services multifamily, senior hous- ing and healthcare facility loans by utilizing programs overseen by governmental agencies and government- sponsored entities. The plat- form, which is highly com- plementary to the Barings Real Estate Advisers other origination and investment organizations, is one of only 19 lenders that hold licenses with Fannie Mae , Freddie Mac and the Federal Hous- ing Administration . Barings Multifamily Capi- tal will report to Jamie Hen- derson , head of structured real estate investments at Barings Real Estate Advis- ers. He said: “Barings has a bullish stance regarding the real estate fundamentals of both the multifamily and healthcare sectors due to a variety of structural and demographic factors. The addition of Barings Multi- family Capital broadens our reach into these important sectors.” n
Our Safety Group members saved over
in the last 8 years on Workers Comp costs. How much did you save? $ 1,662,554
Significant upfront discounts on Workers Comp! Declared dividends six years in a row! *
For further details on how to gain the rewards of participating in the new Professional Real Estate Owners and Managers Association Inc. Safety Group #204, please contact: Neil Owens, CIC, Esq. Safety Group Administrator neil_owens@cohenins.com Tel: 973-403-9500 • 800-277-9505 Fax: 973-403-7755
Savings on the cost of Workers Comp coverage are now possible for eligible members of the NJAA who join our unique Workers Compensation Safety Group. Participation also offers these advantages: • Up front discount – most other carriers have reduced or eliminated managed care and other credits • Potential dividend based on experience of this large group – 6 year average of declared dividends is 8.00%* • Easier audit process due to calendar year policy • Customized risk management with the insight of E. B. Cohen experts
1250 Broadway, 36th Floor, New York, New York 10001 • 212-977-9500
Insurance Agents Brokers, Consultants & Risk Managers for the Real Estate Industry
*Past performance is no guarantee of future results. 2015 to be declared December 2016.
101 Eisenhower Parkway, Roseland, NJ 07068 • www.cohenins.com
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