News and Events

WESTLAKE REALTY GROUP NAMED ACCREDITED MANAGEMENT ORGANIZATION OF THE YEAR BY IREM’S BAY AREA CHAPTER
San Mateo Firm Recognized for Significant Contributions in 2007

San Mateo, Calif. – January 04, 2008 – Westlake Realty Group, Inc., an AMO®-certified property management company, today announced that it has been recognized as Accredited Management Organization of the Year by the San Francisco Bay Area Chapter of the Institute of Real Estate Management (IREM). The award was presented to Steven McDonald, CPM®, Westlake’s vice president & general manager, residential division, on December 21, 2007 during a ceremony held at San Francisco’s famed Carnelian Room atop the Bank of America building.

“It’s truly a pleasure to recognize our members’ achievements,” said David Tripp, CPM, the chapter’s 2007 president, “and we are particularly happy to present this year’s award to Westlake Realty Group.” “Westlake is not only dedicated to excellence in property management, it has also worked very effectively to support the San Francisco Bay Area Chapter,” added Rita Hernandez, CPM, chapter president in 1999.

“I’m pleased to accept this award on behalf of the Westlake team,” said Steven McDonald. “Working with chapter management and members this year has been professionally rewarding, and I look forward to my continued association with this great organization.” “We will proudly display this plaque in our offices, right alongside our designation as an Accredited Management Organization,” commented Robert Klag, Chief Executive Officer of Westlake Realty Group.

About 2007’s Accredited Management Organization of the Year Award
During 2007, Westlake Realty Group made significant contributions to the operations of the San Francisco Bay Area Chapter of IREM. Mr. McDonald served as the chapter’s vice president of membership during 2007 and will assume the role of vice president of education in 2008. Westlake has supported the Chapter’s education program by providing substantial funding as well as providing the venue for a seminar. In addition, Westlake donated tickets to a San Francisco Giants game, which were auctioned during a Chapter fundraiser.
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San Mateo-Based Property Management Firm Recognized by State Legislative Task Force as Employee Wellness Advocate

SAN MATEO, CA--Nov 26, 2007 -- Westlake Realty Group, Inc., an AMO®-certified property management company, today announced that it is an awardee of the prestigious 2007 California Fit Business Award from the California Task Force on Youth and Workplace Wellness. The task force's award was conferred during a special ceremony in Sacramento on Thursday, November 8, 2007.

"The welfare of our employees has always been a top priority," said Robert Klag, CEO of Westlake Realty Group. "So it is nice to receive confirmation of leadership in voluntary programs to promote employee wellness."

Westlake introduced its well-regarded employee wellness program in 2005. The program includes the following elements:

• Each employee receives a free membership at a well-equipped nearby gym. Family members can join at a significant discount
• Company vending machines are stocked with a variety of healthy snack alternatives such as low-fat microwave popcorn and baked whole-grain chips.
• Employees have 24/7 access to a health and wellness hotline where they can get free, authoritative advice on diet and how to monitor their health issues.
• Employees are encouraged -- with executives acting as role models -- to incorporate walking into their workday. For example, using the stairs instead of the elevator, and parking further away from the entrance to the office building.

About the California Task Force on Youth and Workplace Wellness

Founded by the California state legislature in 2002 and led by State Senator Tom Torlakson, the mission of the task force is to "create and promote programs and policies which decrease the obesity rates in California's schools and workplaces." A joint public/private endeavor, it mobilizes a broad spectrum of California citizens and legislators to address school and workplace physical fitness and health issues.

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Steven McDonald, Westlake’s GM Residential Division, will be sharing his secrets on successful property management at the San Francisco Learning Annex www.learningannex.com this coming March, April and May. Already assisting a rental property manager when he was only 17, Steve will be giving out numerous practical tips that will help property owners save thousands of dollars.

Class Dates:
	March 13, 2007 from 6:45pm – 9:30pm
	April 24, 2007 from 6:45pm – 9:30pm
	May 16, 2007 from 6:45pm – 9:30pm

Course Description:
Title: Do You Own Rental Property? "Increase the Value of Your Property by Learning the Ins and Outs of Property Management"

Too often, it isn't until owners get into trouble that many real estate investors realize how poorly prepared they are to manage apartment property. They experience the enormous stress from evictions; get sued for discrimination, and worst, they often don't realize that their investments are underperforming by thousands of dollars each month.

Gain From Our 30 Years of Expert Tips and Advice on Apartment Management:

• How To Keep Your Units Occupied
• Avoid Asset Depletion with Preventive Maintenance
• Common Lawsuits Landlords Can Avoid
• Keys To Stress Free Ownership
• and much more

Steven M. McDonald, CPM® is the general manager of Westlake Realty Group, Inc- a leading bay area property management company with a 2.5 million square feet portfolio. He has been managing apartment properties for more than 20 years and sits on the board of the prestigious Institute of Real Estate Management, San Francisco chapter. Steve is also a rental property owner.

Course Material:$10

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Happy About Apartment Management: 30 Years of Expert Tips and Advice on Multifamily Property Management
by Robert W. Klag, M. Gary Wong, Steven M. McDonald, Gemma G. Lim

Happy About Apartment Management can be found in both Paperback and ebook formats. Readers will find it a quick read full of valuable information. The content is easy to comprehend. The authors are reaching out to mangers, property owners, and anyone ready to buy rental property - big or small. In fact, I recommend reading it before you invest.  

"This book shares 30 years of knowledge, experience, and great stories by the management and staff of Westlake Realty Group, Inc." -- Happy About Apartment Management 

The owners of Westlake Reality Group, Inc. begin by explaining why they wrote the book. Next they discuss Technology and the future of property management. I really like the idea of having a network server for managers to access and electronic banking instead of bank runs -imagine  no more searching files by hand or dealing with bank lines. The authors ask some good questions in this section also, but those are mostly aimed at the property owners. A couple that stood out were, "Why do you own property?" and "Do you want to represent yourself in court?"

In part II they go over "10 Ways to Maintain Occupancy in a Buyer’s Market," "10 Ways to Keep Residents From Moving," "Curb Appeal and Closing the Sale." All are vital in this informative section. 

Part IV goes into Property management with "9 Keys to Credit Screening" and more. Part V is about Tax Credit and affordable housing. Part VI tells how to avoid 5 common lawsuits as well as ways to improve your ROI and avoid deferred maintenance. Part VII wraps things up with ways to improve a multifamily portfolio performance, tips for efficient risk management, benefits of using a professional property management company and more.  

When it comes to property management how-to this modest looking book has the value of a diamond. A must-have for those in the rental property business. Be sure to pass it on to your co-workers or business partners. TOP
Location, Service and Value
Happy Renters Make Happy Landlords
by Phoebe Chongchua

Last week I wrote a column about becoming a landlord and the tax implications. This week we look at how keeping your renters happy can lead to being a happier, wealthier and, stress-free landlord. Whether you own or are considering buying a rental property, a condo, duplex, fourplex, or even an apartment complex -- experts say keeping renters happy should be at the top of your -- priority list in order to ensure cash flow.

realtytimes.com/rtcpages/20070122_happyrenters.htm

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Westlake Authors Interviewed On KERN RADIO

January 6, 2007- Robert Klag and Steven Mcdonald were interviewed by KERN Radio personality Stan Ferguson during the “Real Estate Hour”. Answering questions about the book “Happy About Apartment Management”, the authors and Westlake Realty Group, Inc. executives also fielded questions from numerous call-ins whose questions ranged from “Should I manage my property or hire a management company?” to “Are installing double pane windows a good investment?”

40,000 listeners tune in to the “Real Estate Hour” which is on its 14th year run.

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We Wrote The Book On Rental Property Management

San Mateo, CA – January 10, 2007 - Knowing that the mistakes property owners make can cost them tens of thousands of dollars, the experts at Westlake Realty wrote HAPPY ABOUT APARTMENT MANAGEMENT, a resource guide showing how multi-family real estate investment can be successful, if owners have the know how to manage property effectively.

Too often, it isn’t until owners get into trouble that many real estate investors realize how poorly prepared they are to manage property. They may experience the enormous stress from evictions because they have not developed appropriate credit screening techniques that identify potential dead beats. They may be sued for discrimination because they do not understand fair housing regulations. They fall victim to downward economic spirals because they do not understand the relationship between curb appeal, occupancy rates, and rent. Worst of all, they often don’t realize that their properties are underperforming by thousands of dollars each month.

“Investors can successfully win out in property management if they follow the right steps” says Steven M. McDonald, co-author of HAPPY ABOUT APARTMENT MANAGEMENT. The general manager for Westlake Realty Group, Inc.’s residential section, McDonald has managed real estate for over 20 years.

“We have always found it illogical that investors pay substantial fees to their stockbrokers yet trust themselves to manage an investment property that is constantly at risk from fire, vandalism, and personal liability lawsuits. Real estate investment can be your path to financial independence if you are willing to give it the attention it requires,” says Robert W. Klag, CEO of Westlake. Klag and McDonald wrote this book with their colleagues Gemma G. Lim, Director of Business Development and M. Gary Wong, President, Westlake Development Partners and Westlake Realty Advisors.

Hoping that property owners will garner invaluable money-making tips, the book covers:

• How To Keep Your Units Occupied
• Ways To Keep Residents From Moving
• Common Lawsuits Landlords Can Avoid
• Tips for Efficient Risk Management
• Keys To Stress Free Ownership

In addition to tips on credit screening, forms every landlord should have, and improving collections, the book explores whether one should hire a property management firm or not. Also, it addresses Technology and The Future of Property Management, highlighting such areas as Image Technology, GPS Technology, Electronic Banking and Property Owner Oversight.

Having saved property owners hundreds of thousands over the years, the authors of HAPPY ABOUT APARTMENT MANAGEMENT hope to inspire new and old investors to save thousands more.

ABOUT WESTLAKE REALTY:
A family owned and operated company that manages a 2.5 million square foot portfolio of properties in the western United States, Westlake is well known for increasing property values and enhancing the tenant experience. Westlake distinguishes itself from others in the industry by combining management expertise with cost effective, state of the art technology. Their executive team has 300 years of combined experience. Westlake has offices in California, New Mexico, Nevada, Oregon and Washington.

ABOUT THE AUTHORS:

Robert W. Klag, CPA, Chief Executive Officer
Klag has a B.S. in economics at the University of California Riverside and an M.B.A. from the University of California, Berkeley. He is a member of the California Association of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Institute of Certified Management Accountants.

Gemma G. Lim, Director of Business Development
Lim has a B.S. in management from Ateneo de Manila University and an M.B.A. from Fordham University in New York. A CRE license candidate, she is fluent in 3 languages. She is a member of Building Owners and Managers Association, The International Council of Shopping Centers and various Chambers of Commerce.

Steven M. McDonald, Vice President & General Manager, Residential Properties
McDonald has earned Housing Credit Certified Professional, Certified Occupancy Specialist, and National Compliance Professional certifications. A San Jose State University graduate, he has a California real estate license, and is a Certified Property Manager through the Institute of Real Estate Management. McDonald serves as vice president of membership for IREM-SF.

M. Gary Wong, President, Westlake Development Partners and Westlake Realty Advisors
Wong is a member of the Policy Advisory Board for the Fisher Center for Real Estate and Urban Economics, the Urban Land Institute, Building Owners and Managers Association, and the International Council of Shopping Centers. He has served on the corporate board and as treasurer of the United Way of Los Angeles and is a Block Leader for the City of Cupertino. He holds a B.A. and an M.B.A. from the University of California, Berkeley.

HAPPY ABOUT APARTMENT MANAGEMENT
30 Years of Expert Tips and Advice on Multifamily Property Management
By Robert W. Klag, Gemma G. Lim, Steven M. McDonald and M. Gary Wong
Publication Date: December 1, 2006
ISBN: 160005031X
Price: $19.95, Trade Paperback
Publisher: HappyAbout.Info

ENDORSEMENTS

“HAPPY ABOUT APARTMENT MANAGEMENT is an informative and easy-to-read guide to property management. It is concise and yet comprehensive, touching on every aspect of the business. It will make the task of apartment management all the easier.”
Dr. Dolf de Roos
Real estate Investor and Author of the
New York Times bestseller Real Estate Riches

“This is an easy to read, practical and insightful guide for property owners and managers and those who are planning to get into the business. I strongly recommend it.”
Stephen A. Cowan
Partner, DLA Piper

“This book provides a head start for apartment owners who want to learn from 30 years of experience.”
Kyle R. Klopfer, CPA
Klopfer & Associates

“…Any owner/manager of an apartment complex would be wise to follow the advice and wisdom in HAPPY ABOUT APARTMENT MANAGEMENT from these successful real estate professionals.”
Gino Blefari, Founder, President and CEO
Intero Real Estate Services

“…HAPPY ABOUT APARTMENT MANAGEMENT is well written and easy to understand. It takes the reader from technology and how it can change aspects of the way in which property managers do their business to the basic ‘nuts and bolts’ in creating a community with the residence. A great reference guide. ”
William Perry, Vice President - Regional Director
First American Title Insurance Company

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Westlake is a Major Donor of New City of San Mateo Public Library

August 27, 2006 San Mateo- The San Mateo Public Library finally opened in its new location on 55 West Third Avenue, San Mateo. This posh state-of-the-art “living room” which has a Bean Street Coffee station on the third floor, represents a departure from how things used to be in a traditional library. The library wants to see itself as a gathering place fostering human interaction - the core of learning. Thus the presence of study group couches in hip colors and a “bubble room amphitheater” children's section on the first floor.

Being in the heart of Silicon Valley, it’s to be expected that the library is fitted with the latest in technology. The 90,000-square-foot building is three times the size of its predecessor, has wireless Internet service, 100 public computers, a biotechnology center and an automated check-in system that sorts books electronically. Designed as a “green building”, it was constructed with a high percentage of recycled products, from carpet to steel. It is meant to be energy-efficient, with skylights providing 95 percent of the building's reading light and windows that open in the ceiling providing "passive ventilation."

Westlake Realty Group, Inc was one of the first companies to pledge their support to the San Mateo Public Library Capital Campaign.
For more information about the library go to www.ci.sanmateo.ca.us.

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Albuquerque, NM – Westlake Development Group LLC, headquartered in San Mateo, California, has purchased the Molina Building from Horizon Rose Interests LLC and Horizon 350 LLC.

The Molina Building is located on 8801 Horizon Boulevard NE, just off Alameda Boulevard in Albuquerque's prestigious North I-25 Corridor. Alameda Blvd. is the technology corridor of Albuquerque and home to many of Albuquerque's largest employers such as Intel, Sumimoto and Honeywell to name a few. This centrally located area is attracting more business due to convenient access to the labor base of the established northeast heights residential with the fastest growing areas of the city, the Westside and Rio Rancho.

The four-story Class "A" office asset covers 127,000 square feet of rentable space. The elegant building boasts a state-of-the-art infrastructure, and a superior architectural design known for its natural colored stone exterior. This institutional-grade, multi-tenant office complex enjoys a history of high occupancy levels and attracts high-end, image conscious users. The property also includes 5.94 additional acres of undeveloped land.

"We believe that Albuquerque's diverse and stable economy is a positive factor for the office market and that strong historic and projected job growth makes the city one of the most attractive for us." said Gary Wong, Westlake president. "We are selectively adding properties that complement our existing portfolio and are positioned in rapidly developing markets."

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Nevada, Las Vegas – Westlake Development Group LLC, headquartered in San Mateo, California, has purchased City Center West – Building B from Triple Net Properties. Westlake Development Group purchased the property for $35 million.

The 105,964-square-foot office building is strategically located in one of Las Vegas’s fastest growing markets. The building features easy access from several freeways, and is within walking distance to restaurants, high-quality retail, neighborhood and big box shopping centers, and business services. Its flexible floor plan can easily be configured for multi-tenant use, City Center West also incorporates a state-of-the-art energy management system and high-speed fiber-optic data connections.

Westlake's newest property addition has a median suite size of approximately 7,000 square feet, with spaces ranging from less than 3,000 to over 17,000 square feet of rentable space. This Class A property accommodates a variety of regional and national tenants engaged in business services, including insurance, law, real-estate and financial service firms. Current tenants include Marsh USA, Inc., HQ Global Workplace, IBM, National City Mortgage and Bank West Nevada.

"The acquisition of City Center West is in line with our desire to seek out exceptional properties in key metropolitan operating areas. This is a premier office building for companies looking for state-of-the-art telecommunications infrastructure and proximity to affluent neighborhoods" said Gary Wong, Westlake president. "We are selectively adding properties that complement our existing portfolio and are positioned in rapidly growing markets."

An affiliate of Westlake Development Group, LLC, Westlake Realty Group, Inc. will manage City Center West in addition to twenty other commercial and multi-family properties in California, Oregon and New Mexico.

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Westlake Development Group, LLC purchased four buildings, collectively known as Gresham Station North at 831 NW Council Drive, Gresham, Oregon from CenterCal Properties, LLC of Tigard, Oregon.

The 145,322-square-foot, mixed-use property is located within blocks of another Westlake property, Gresham Station Shopping Center. Gresham Station North includes an 18,584 square foot state-of-the-art surgery center, a 45,000 square foot LA Fitness facility and 80,000 square feet of medical, commercial office and retail space. The property is nearly 100% leased to recognized tenants with long-term leases.

Westlake Development Group, LLC, a real estate asset management company, is headquartered in San Mateo. An affiliate, Westlake Realty Group, Inc. manages these two properties in addition to 20 other properties.

Established in 1972, Westlake Realty Group manages a global real estate portfolio comprised of retail, residential, and commercial properties. Westlake's mission is to own and manage properties that reflect community values and attitudes, and to provide quality environments that positively
impact the lives of its users. For more information contact Meerta Petschi at 503.665.9474.

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Westlake Completes the Sale of over $200 Million in Property and Publishes a Book to Share Its Program for Successful Property Management

For over 30 years Westlake has developed a Property Management Division to professionally manage its property portfolio. With professional property management, Westlake’s owners have had the time to accumulate strategically located properties and build wealth for future generations. In 2005, Westlake sold properties for over $200 Million, and currently, Westlake has a real estate portfolio of over 30 properties and 2,000,000 square feet with a market valued of over $500 Million.

To share 3 decades of property management knowledge, the company has published the book There Is An Easier Way, which contains expert tips and advice on managing multifamily properties. This book is written for the busy apartment building owner. There Is An Easier Way is filled with succinct & comprehensive advice, ranging from 10 Ways to Improve Your Multifamily Portfolio’s Performance to 10 Tips to Efficient Risk Management.

To receive a complimentary copy of the book and for more information about our management services, call our property management services hotline at 1.888.423.8855.

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Westlake's Major Real Estate Deals in 2005

An interview with Gary Wong, Co-President Westlake Global Management

What were the major transactions Westlake was involved in for 2005?

• Sale of San Mateo Bridgepointe Shopping Center to SPI Holdings, LLC.
• Sale of senior living business
• We did a number of other financings, but those are estate related matters.

Why did we undergo these transactions?

• We had a signification concentration of real estate assets in Northern California and we have had an on-going program to diversify the real estate portfolio.
• We made the strategic decision to exit from the senior living business because we were not growing the business and were increasingly competing against other operators which had greater resources and a significant larger number of communities in which to spread their costs.

When did the major transactions take place?

• Bridgepointe sale closed on November 2, 2005
• Senior living sale will close on December 30, 2005.

Who were the partners involved?
There were no partners involved.

What was the transacted dollar amount, total
The sale of both properties was over $200 million.

What are the transactions’ impacts on our corporate strategy?

• The senior living business is an operationally intensive business. When coupled with the fact that the community is comprised of seniors, hospitality and professional execution of policies and procedures is critical to be successful and to avoid potential liabilities (falls, incorrect dispensing of medication, accidents, etc.) The company preferred to be involved in property management businesses vs operations which are also a reason why the company exited the grocery business, Lido Supermarket. The sale of the properties enables to take the proceeds and reinvest in other geographic markets, thereby diversifying the portfolio.
• Going forward, the real estate businesses Westlake will be involved with are:
  • Property management – Fee bases services for commercial and residential property management;
  • Property development – Westlake will develop existing land parcels in the portfolio as well as redevelop existing properties for its highest and best use;
  • Asset management and Real Estate Advisory – Westlake will provide services regarding property acquisitions, disposition, repositioning, tax and financial advisory services.

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Gresham Station Welcomes Best Buy

Gresham Station Shopping Center, a 300,000 square foot lifestyle center in Gresham, Oregon is proud to announce the addition of national retail chain Best Buy to its list of shopping choices.

“Gresham Station continues to successfully attract leading national retailers that reflect the up-to-the-minute tastes and lifestyles of this region’s residents. Best Buy is a welcome addition to our 47 other brand name and specialty retailers.”, said Patricia Sillix, VP & General Manager of Westlake Realty Group which manages the shopping center. Best Buy sells a wide range of consumer electronics, major appliances, and entertainment and computer software.

The Minnesota-based retailer, which has 714 stores nationwide, entered the Portland market in 2000. “Best Buy’s very first stores were opened in the Portland area,” Sillix points out. “We know that they are a smash hit among this area’s residents. That has been key to us in selecting tenants for Gresham Station. Our objective is to create a center that is as irresistible to local shoppers, diners and entertainment seekers as it is to Portland area visitors.”

Gresham Station Shopping Center is located at 1042 NW Norman Avenue, at the corner of Eastman Parkway and NW Division St. Gresham Station’s retailers include Bed, Bath & Beyond, Cost Plus World Market, Borders, PacSun, Ann Taylor Loft, Old Navy, Gap and many more (note to media: tenant list attached).

Westlake Realty Group has managed Gresham Station since 2002, and is a Westlake Global Management company. Established in 1972, Westlake manages a global real estate portfolio comprised of retail, residential and commercial properties.

Westlake’s mission is to manage properties that reflect community values and attitudes and to provide quality environments that positively impact the lives of its users. For more information please visit www.westlake-realty.com.

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Blum Capital Partners Sign 10 Year Lease

Blum Capital Partners, recently renewed its office lease at Westlake Building in San Francisco for another 10 years. Located in the heart of the financial district, this award winning building on Montgomery Street also holds the offices of Senica Capital Management and Aston Pereira & Associates.