FINANCE

Tempe Marketplace acquired in $280 million deal

BY CSA STAFF

Phoenix — Vestar Development Co. and Rockwood Capital on Tuesday acquired Tempe Marketplace for $280 million by buying out an original partner. In conjunction with the closing, Tempe Marketplace received a new $200 million permanent financing package from GACC.

Vestar was the developer of Tempe Marketplace and had previously partnered with DLJ/Credit Suisse. Both Rockwood and Vestar made significant investments in the acquisition. Under terms of the deal, Vestar will be the managing partner.

At $280 million, this transaction is the largest real estate transaction completed in Arizona in 2010 and one of the largest shopping center transactions completed in the United States during 2010.

"We believe in the real estate fundamentals in the Tempe market and this asset’s ability to provide healthy risk-adjusted returns with limited downside due to strong in-place income," said Joel Mayer, head of Retail at Rockwood Capital. "And Vestar is the ideal developer to partner with to maximize operations because of their extensive knowledge of the asset and the market."

Vestar intends to close next week on two retail properties in California, totaling approximately 400,000 sq. ft. And in mid-December, another acquisition of another major project in Arizona is expected.

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News

RPE taps JDA sofware applications for Vineyard Vines

BY CSA STAFF

Tampa, Fla. — Retail consultants RPE announced the successful implementation of retail applications from JDA Software Group at Vineyard Vines. The specific applications were chosen to quickly address concerns relative to inventory control, business intelligence/analysis and point-of-sale.

Vineyard Vines, a preppy brand of clothing with stores along the East Coast, was previously running their retail operations on a home grown application. The new systems includes JDA Merchandise Management System, JDA Merchandise Performance Analysis, JDA Win/DSS, and JDACustomer Relationship Management. The new footprint will be managed through RPE’s Software as a Service model.

"We needed a core system with the functionality and scalability to support our growing retail business," said Mike Gaumer, CEO, Vineyard Vines. "Factors we considered when choosing to work with RPE included their successful track record, industry credibility and proven JDA expertise."

RPE is a retail consulting firm specializing in business process improvement, package selection, strategic IT planning and systems implementation to deliver innovative merchandising and supply chain solutions.

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FINANCE

Alliance Data signs multi-year renewal agreement with Arhaus Furniture

BY CSA STAFF

Dallas — Alliance Data Systems Corporation, provider of loyalty and marketing solutions derived from transaction-rich data, announced it has signed a multi-year renewal agreement with Arhaus Furniture — a high-end retailer of quality, customizable home furnishings and accessories — to continue providing turnkey private label credit-card services for Arhaus’ retail locations.

Under terms of the agreement, Alliance Data will continue providing private label credit-card services, including account acquisition and activation, receivables funding, card authorization, private label credit-card issuance, statement generation, remittance processing, marketing services and customer service functions as part of the "Archarge" credit-card program. Program benefits include flexible financing options and online account management for Arhaus cardholders, as well as customized messaging in monthly billing statements.

"We look forward to continuing our 18-year partnership with Alliance Data, and truly value the private label credit-card services the company has provided to Arhaus through the Archarge credit-card program," said John Reed, CEO of Arhaus Furniture, which has 35 stores in 14 states, with plans for four additional locations in 2011. "With Alliance Data’s approach to customer service aligning nicely with our customer care philosophy, we’re able to deliver meaningful value to our customers through this card program. The Archarge program is an important extension of our brand — one that helps to ensure we’ll continue to be our customers’ retailer of choice when it comes to fine furniture and accessories."

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