NEW ORLEANS, April 13, 2011 /PRNewswire/ -- Orpheum Property,
Inc. (OTCQB: PLFF), publicly traded
entity specializing in the purchase, development, and
management of commercial properties, today announced that
Morris Kahn has been appointed its
Chief Executive Officer.
In addition, Andrew Reid,
Orpheum's prior CEO, will continue as Chairman, and Tyrus C. Young, its Chief Financial Officer, has
been appointed a Director of the company.
Morris Kahn, the newly appointed
CEO, will be responsible for providing strategic leadership for the
company by working with the Board of Directors and the Executive
Management Team to establish long-range goals, strategies, plans
and policies. Morris joined Orpheum Property, Inc. on
April 7, 2011.
Prior to joining Orpheum Mr. Kahn was the Founder and Principle
Associate with Morris Kahn &
Associates, one of Louisiana's
preeminent Tax Benefit Program Administration & Business
Development Consulting Firms, since 1982.
Kahn & Associates:
- Has had its finger on the Pulse of the local economic
scene.
- Has developed a valuable network within the business &
government community.
- Has Built a proven track record of meticulous attention to
detail that has resulted in over $400,000,000 in customer generated benefits.
- Has over 1000 Clients in 25 Industries.
- Has consulted on over $1 Billion
of development transactions in 20 States
Morris brings with him over 23 years of Business Development
Planning & Finance, Real Estate Development Finance,
Construction Budgeting & Auditing, and has been instrumental in
the Drafting and Support of local Legislative actions relating to
Business incentives and Development.
Mr. Kahn received his B.A. in Economics from Tulane University in 1978 and started his career in
real estate. He worked as a Real Estate Agent from 1978-1982
when he formed Kahn & Associates, and has worked with
Businesses, Individuals, and Non-Profit organizations. Morris has
worked on numerous preservation projects, and is very active in
community and civic organizations.
Andrew Reid has more than 20
years of corporate finance and management experience. In 2006
Mr. Reid started NOLA Commercial Finance Inc., a commercial finance
company. During the past 4 years he has focused on helping
small regional Oil & Gas companies with debt and equity
funding. He has helped fund in excess of $50 million for various types of income producing
properties.
About Orpheum Property, Inc.
Orpheum Property, Inc. (the "Orpheum") specializes in the
purchase, development, and management of commercial properties.
Orpheum leverages property acquisitions through stock/equity
sales, private investment and limited loans commitments. The
company will leverage its experience in real estate, finance, and
accounting to execute its business plan. Orpheum will benefit
from a limited overhead and in its initial stages the company can
run with minimal capital outflow. Concentration will be to
purchase income-producing properties with good existing management
and favorable occupancy rates. The company's focus for
development projects will be with commercial properties that
qualify for subsidization through tax credits and other government
incentives. Initially these efforts are focused on properties
affected by the 2006 Hurricane Katrina, but will not be limited to
that geographical area.
Orpheum's mission is to purchase and develop quality commercial
properties for both income producing opportunities and for resale,
thereby providing investment growth for our shareholders and
investors. For more information go to:
www.orpheumpropertyinc.com
Forward-Looking Statements:
Statements herein express management's beliefs and expectations
regarding future performance and are forward-looking and involve
risks and uncertainties, including, but not limited to, raising
working capital and securing other financing; responding to
competition and other risks. These risks are detailed in the
Company's filings with the Securities and Exchange Commission,
including Forms 10-KSB, 10-QSB and 8-K. Actual results may
differ materially from such forward-looking statements.
SOURCE Orpheum Property, Inc.