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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY OPENS HONG KONG AND SINGAPORE OFFICES TO CAPITALIZE ON INVESTMENT OPPORTUNITIES IN ASIA |
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Tuesday, January 12, 1999
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New York, NY
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Sonnenblick-Goldman Company announced at a press conference today that they have acquired the mergers, acquisitions and transaction advisory business of Horwath Asia Pacific. Horwath Asia Pacific will continue to operate its lodging advisory business, with which Sonnenblick-Goldman will maintain a strategic alliance. This acquisition provides Sonnenblick-Goldman with established offices in Singapore and Hong Kong, which will operate as Sonnenblick-Goldman Asia Pacific.
The focus of Sonnenblick-Goldman Company's Asian offices are to work with both Asian and Western investors seeking lodging investment opportunities in Asia, as well as to assist Asian property owners seeking to transact or refinance property in Asia as well as in North America and Europe. Sonnenblick-Goldman Asia Pacific's initial focus will be to raise debt and equity capital for the lodging industry, but will be expanded into the other property types which Sonnenblick-Goldman handles in North America, primarily office buildings, retail malls and multi-family properties.
Sonnenblick-Goldman Asia Pacific will be headed by Robert Stiles based in Singapore, who has been active in lodging investment and transactions in Asia since 1986 as a Founding Partner of Horwath Asia Pacific. Sonnenblick-Goldman's Hong Kong office will be led by Roger Griffin and Randall Stevens. Mr. Griffin has spent 16 years in Asia with Chase Manhattan Bank and five years as Senior Vice President of the Pacific Asia Travel Association. Mr. Stevens has been in Asia for over 25 years in banking with Bank of America and direct investments with Arral & Partners and Interpacific Group.
"This acquisition reinforces our commitment to the lodging industry and extends our Firm's reach into Asia" says Arthur Adler, Managing Director responsible for Sonnenblick-Goldman's Lodging & Leisure Group. "Adding offices in Hong Kong and Singapore and our strategic relationship with Horwath in Asia will allow us to more effectively serve our existing client base of North American investors, as well as to provide our Asian clients with local contacts. Rob and our Asian team are extremely well respected experts on the Asian lodging industry and we are fortunate to have them join Sonnenblick-Goldman."
"We had been seeking the optimal firm to work with to expand our lodging transactions business" says Mr. Stiles. "Sonnenblick-Goldman provides all of the elements that we were seeking: a well-recognized brand, an excellent reputation, deep experience in and a commitment to the lodging industry, a strong track record with upscale and luxury properties, strong relationships in both Asia and North America and the ability to expand into other property types."
John Bralower, President of Sonnenblick-Goldman Company, added that "Sonnenblick-Goldman Company's entry into Asia marks the exciting beginning of our formal international expansion. We have actively sourced capital from Asia and Europe and have handled numerous property transactions overseas and having a presence in Asia will dramatically increase the firm's capacity."
Sonnenblick-Goldman's Singapore office is located at: 15 Scotts Road, Thong Teck Building #08 - 10/11, Singapore 228218. Tel: (65) 735 - 6645; Fax: (65) 737 - 9550. Sonnenblick-Goldman's Hong Kong office is located at: Suite 2001, 20/F Central Plaza, 18 Harbour Road, Hong Kong. Tel: (852) 2524 - 6109; Fax: (852) 2810 - 6329. |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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