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For Immediate Release
Turner Government and Public Affairs Fights for Major California Developer
Turner GPA to Assist Astani Enterprises in Bid to Rescue $160 Million Condo Development
Washington, DC (Nov. 29, 2010)-Faced with the possibility of losing its $160 million Concerto development in downtown Los Angeles to foreclosure, Astani Enterprises has enlisted the services of Turner Government and Public Affairs to see it through the maze of federal bureaucratic red tape that is essentially holding the project hostage.
Turner GPA, one of the nation's premier regulatory government and publc affiars firms providing strategic communications services, will provide Astani Enterprises and its owner, real estate developer Sonny Astani, with the critical knowledge of Washington that will ensure Astani will have a fighting chance to complete the Concerto project.
"Completion was nearing on Mr. Astani's Concerto development, which includes 629 residential units in twin 30-story towers, when the nation was rocked by the banking crisis in the fall of 2009," explained Caren Turner, President of Turner GPA. She said the bank that was financing the Concerto project failed and was seized by the Federal Deposit Insurance Corp (FDIC), which, in turn, sold the bank's assets, including Astani's loan, to a consortium of Wall Street hedge funds.
"That's when the nightmare started for Astani Enterprises and Mr. Astani," continued Turner. Despite good faith efforts to meet his obligations and finish the project, the private Wall Street investors, aided by arcane FDIC policies, have thwarted Mr. Astani at every turn. Turner noted that Mr. Astani's predicament isn't unique and that many entrepreneurial small business people are in the same boat.
"Because Mr. Astani is being blocked from completing the Concerto project the Los Angeles area has already lost hundreds of jobs and millions in tax revenue...Our goal is to turn this situation around and provide Mr. Astani with the opportunity to complete his Concerto project," said Turner.
About Turner GPA: One of the premier government and public affairs firms in the nation, Turner GPA specializes in state-of-the art advocacy that seamlessly integrates government relations and communications services. With a proven track record of achieving results, Turner GPA advocates on behalf of businesses, municipalities and non-profits that wish to ensure their perspectives and needs are taken into account in Washington, DC, in state capitals and city halls. We create and implement intensely focused and targeted campaigns designed to meet and exceed client expectations and goals. For more information on Turner GPA visit www.turnergpa.com.
For more information about this topic, or to schedule an interview with Caren Turner, please call Renu Persaud at 202/466-2511 or e-mail Renu at firstname.lastname@example.org.