West Virginia Executive Spring/Summer 2020 | Page 86

Uber Capital Group Sources $11
Million Acquisition Financing for
Fountain Place Shopping Center
Commercial real estate financial advisory
and mortgage origination firm
Uber Capital Group (UCG) has sourced
an $11 million acquisition financing loan
for the Fountain Place shopping center in
Logan, WV. The client was a private real
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estate investor based in New York. UCG
sourced the loan from a regional lender
based in Virginia.
Real estate investor Joel Gorjian, UCG’s
president and founder, established the
firm in late 2016. The company is based in
Great Neck, NY, and operates nationally.
Since 2017, UCG has arranged in excess
of $500 million worth of commercial real
estate financing nationwide.
“Our team’s extensive experience in
both financing and operating retail properties
nationwide allowed us to secure
advantageous terms for the owner of
the Fountain Place mall,” says Gorjian.
Built in 1997, the Fountain Place is
a one-story, 226,096-square-foot retail
power center located at the junction of
US-119 and WV-73. The shopping center
is famous for its dramatic setting, as the
property’s construction required cutting
into a large portion of an adjacent mountain.
Anchored by a Lowe’s Home Center
and Walmart Supercenter, Fountain Place
features a roster of national and regional
tenants, including Rue 21, Burkes Outlet,
Shoe Show Mega Store and Dollar Tree,
as well as several professional services
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and health care providers such as Southern
West Virginia Health System, Appalachian
Regional Healthcare and McCoy Dental.
Constellium’s Ravenswood facility
Receives Grant to Optimize
Armor Plate Production
Constellium’s facility in Ravenswood,
WV, has been selected by the U.S. Department
of Defense for a grant of nearly $9.5
million to increase throughput, quality and
performance of cold rolled aluminum. The
funding was awarded by the Department
of Defense’s Cornerstone Other Transaction
Agreement and will be managed by
the Army Research Laboratory (ARL) at
Aberdeen Proving Ground, MD.
Constellium will use the funds to perform
electrical, mechanical and hydraulic
system upgrades to Ravenswood’s cold
rolling mill and add state-of-the-art automation
and process controls. The mill
is critically important for the manufacture
of high-performance aluminum plate
for ballistic and blast protection of military
vehicles. Army and Marine Corps
modernization programs will require
increased capacity of the U.S. industrial
base to produce cold rolled plate over the
next decade. In coordination with Cornerstone
and ARL, Constellium will also
invest in developing manufacturing processes
and armor plate that will optimize
the additional capacity and process controls
of the upgraded mill.
“This investment by the Department
of Defense will enable us to meet the increased
demand for cold rolled plate over
the next five to 10 years and also significantly
improve the performance of armor
against constantly evolving threats,” says
Buddy Stemple, CEO of Constellium
Rolled Products Ravenswood. “We are
very excited to have this opportunity to
help protect our troops.”
Explore the New Manufacturing
Announces 2020 Emerging
Elite and Outstanding
Industry Educator Awards
Explore the New Manufacturing has
announced the inaugural recipients of
the Emerging Elite in Manufacturing and
Outstanding Industry Educator Awards
celebrating the skills and dedication of students
and educators across West Virginia.
“As the explore team has worked with
students and educators to increase the
understanding of manufacturing across
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