Box Elder

first_imgHISTORY OF BOX ELDERThe city of Box Elder serves as the gateway to the Black Hills. In the late 1800s, the future site of Box Elder was a fertile valley, luring settlers west with untold promise. Lone Tree, a few miles east of Box Elder, was originally a stop for the covered wagons and horsemen coming to the Black Hills from Fort Pierre on the Black Hills Stage and Wagon Road. Box Elder was born as a whistle-stop town in 1907 when the Chicago and Northwestern Railroad built a track from Wall to Rapid City. The new town was named after the box elder trees, which grew along the head waters of the creek that flows through the valley. Box Elder was officially incorporated as a city in 1964 during the Cold War expansion of Ellsworth AFB. Today, Box Elder is home to nearly 9,500 people and is one of South Dakota’s fastest-growing cities. The city of Box Elder, nestled between Ellsworth and Rapid City, offers city convenience with a small-town atmosphere.EDUCATIONThe city of Box Elder is home to the Douglas School District, one of the finest school systems in South Dakota. The district serves more than 2,500 students with Carrousel preschool services, Badger Clark Elementary, Douglas High School, Douglas Middle School, Francis Case Elementary and Vandenberg Elementary. The district is in western South Dakota on the edge of the Black Hills and serves students from Box Elder, Ellsworth AFB and the surrounding rural area.Children living on Ellsworth or in the Box Elder community will attend the Douglas School System. Busing is no longer provided to school children living on base. However, the Ellsworth Youth Center offers a before- and after-school program that provides busing to and from Douglas schools for a fee. For more information about bus transportation in the surrounding Box Elder communities, contact the transportation office at 605-923-0022. The Douglas School District administrative office can be reached at 605-923-0000.LAW ENFORCEMENTThe Box Elder Police Department serves a residential population of approximately 9,000 citizens with an authorized strength of 11 full-time officers and three reserve police officers. The administrative contact phone number to the Box Elder Police Department is 605-923-1401.FIRE DEPARTMENTThe Box Elder Volunteer Fire Department proudly protects an area of 81 square miles. They are members of the Pennington County Fire Fighter’s Association and are centrally located in the city of Box Elder at 120 Box Elder Road. The VFD contact number is 605-923-1224. The VFD also hosts area voters, as a polling station, on Election Day.RECREATIONBox Elder offers a variety of recreational pursuits in addition to being the Gateway to the Black Hills, such as Bandit Ball Little League, a BMX track, Prairie Ridge Golf Course, a paint ball arena and several city parks.SERVICESBox Elder has many varieties of businesses to serve your needs. For more information, contact the Box Elder Area Chamber of Commerce, which can be found online at www.boxelderchambersd.com.last_img read more

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Barwood Capital reaps rewards of a hands-on approach

first_imgJoanna Greenslade says Barwood have a hands-on approach in the MidlandsBarwood Capital has a strong focus on development, which has helped bolster the returns it has delivered for investors. The first fund delivered returns of 12% a year over five years, the second 15% and the third is also on track to deliver returns of almost 16%.The firm prides itself on taking a hands-on approach. Greenslade says: “It’s easy for a fund manager sitting in London to have quite large portfolios where they don’t have the time, instinct or understanding to go out and speak to their current or prospective tenants in person, whereas we do build and maintain those relationships. That’s one of our fortes – a more personal approach.”Although the firm does some development work in-house, when operating outside the Midlands, it typically works with other developers and even in the Midlands, it is happy to back others on the right deal. For example, it is funding a 100,000 sq ft warehouse that has been speculatively developed by First Panattoni.“It’s a great example of an institution dropping the ball after the Brexit vote. An institution had it under offer with First Industrial [now First Panattoni] but got cold feet and we picked up the funding position,” says Brogden.Industrial focusThe Birmingham deal was completed on behalf of Barwood Capital’s third fund, which had a strong focus on industrial, something that is set to continue with the new fund. If anything, the weighting to industrial will be even higher for the latest fund.Greenslade says she feels confident about the rental growth outlook for the industrial market but would be surprised to see further yield compression.Resi-only fundAnother area of increased focus for the firm is the residential market, where it works exclusively with third-party developers. Currently, it is working with six developers to build around 200 homes with a gross development value of about £80m. That is likely to increase significantly in the years to come if plans to launch a residential-only fund come to fruition.“Our next step is to do a resi-only fund,” says Greenslade. “There are a lot of development managers that are missing an equity slice who approach us directly or who are referred to us through Close Brothers who we bank with. We have a great pipeline of resi opportunities.”“Our next step is to do a resi-only fund – we have a great pipeline of resi opportunities”Joanna Greenslade Book your place for RESI Convention 2018 to join the debate on opportunities within the resi sector Dynamic duo: Guy Brogden and Joanna Greenslade of Barwood CapitalFor a real estate fund manager that is focused on the regions, she argues that this gives it an advantage over London-based managers.“Our base is firmly in the Midlands and that’s one thing we pride ourselves on,” says Greenslade. “You need to spend time in London, but the real USP of our business is deal-sourcing. And for that and to manage assets effectively, you need to be on the ground.”Until recently, Barwood Capital shared offices with db symmetry, the logistics developer created in 2015 as a joint venture between Barwood Developments Limited (BDL) and Delancey.Make sure your views are heard in 2018’s logistics censusBarwood Capital itself was founded in 2009 by the directors of BDL, which effectively acted as the development manager for the firm until db symmetry was created. Since then, Barwood Capital has become more agnostic about who it works with and now teams up with a wide range of developers on projects as well as using its own in-house team.It has also grown significantly in that time. Last year, the business moved a mile down the road into new offices, which are almost double the size of the old one. “We were bursting at the seams,” says Greenslade.The new offices will be a launch pad for Barwood Capital to further accelerate its growth. Over the past year, the company has already made its intentions clear by making a string of key appointments.Last summer, it installed former Mayfair Capital chief executive Guy Brogden, who was already on the board as a non-executive director, in the newly created role of executive chairman. It then strengthened its investment team by hiring PropSki founder William Chambers from JLL as investment director and earlier this year, Hugh Elrington, who was head of UK transactions at Rockspring, joined as a board member and head of property.Broadened investor baseElrington’s arrival coincided with another milestone for the firm. At the same time, it closed its fourth fund raising £76m of equity – with leverage, the five-year fund will have the firepower to invest about £150m. Since the launch of the first fund in 2009, which was backed by high-net-worth individuals in the Northampton area, Barwood Capital’s funds have increased in size and the investor base has also broadened.“In the new fund, we have a lot of new investors, Merseyside Pension Fund for example, and a large number of high net worths who see this as a unique opportunity to get into property development,” says Greenslade.center_img Barwood is converting Riverside House in Northampton into student accommodationAnother sector that Barwood Capital is planning to focus on more is alternatives. At the end of last year, it secured outline planning permission for 400 units of nursing or student accommodation at Riverside House in Northampton, which is located next to a hospital and a new university campus, and is on the lookout for other similar opportunities.At the same time as the firm looks to increase its investment across industrial, residential and alternatives, it is planning to selectively invest in the office sector. Greenslade says that office occupational requirements are not “as forthcoming” as they were before the Brexit vote but that there are still good investment opportunities to pursue.However, despite her concerns about Brexit, Greenslade is still upbeat about the outlook for real estate, citing the large gap between property yields and bond yields. She also believes that the firm’s focus on parts of the market that are underpinned by “structural change” will serve it well as it looks to accelerate its growth.last_img read more

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