Latest news with #Englebert
Borneo Post
30-04-2025
- Health
- Borneo Post
Miri Health Office launches ‘War on Sugar' campaign to promote healthier food choices
Chaw (centre) signs the 'War on Sugar' banner to symbolically launch the programme. Looking on are Englebert (left) and Dr P Raviwharmman. MIRI (April 30): The Miri Divisional Health Office launched a 'War on Sugar Advocacy: Sugar Label Reading Campaign and Healthy Supermarket Roadshow' at Boulevard Hypermarket here today. The campaign was held in collaboration with the Ministry of Domestic Trade and Cost of Living (KPDN) Miri Branch and Boulevard Hypermarket. The event was officiated by Chaw Zhi Jian, special officer to Miri MP Chiew Choon Man, who represented the MP at the launch. Also present were Miri Divisional Health Officer, Dr P Raviwharmman Packierisamy, KPDN Miri head Englebert Inggath Desmond Japar, and participants of the Ministry of Health Malaysia (MOH) Trim & Fit Programme. According to a handout from the Miri Divisional Health Office, the campaign targets the general public and Trim & Fit participants, aiming to raise awareness on the importance of reading food and beverage labels ― especially sugar content ― and to encourage healthier choices in support of national healthy lifestyle efforts. The Sugar Label Reading Campaign is a part of the annual Healthy Supermarket Roadshow, an initiative under the Strategic Plan to reduce Sugar Among Malaysians 2024-2030. 'This habit should be cultivated as part of a healthy lifestyle to prevent non-communicable diseases and reduce risks such as obesity, diabetes, and heart disease linked to excessive sugar intake,' the statement said. The campaign is expected to improve awareness around sugar consumption in both home-prepared meals and commercial food and beverages. The initiative also aims to lower the prevalence of nutrition-related diseases, improve productivity, and reduce the government's healthcare burden. The Miri Division Health Office added that it will continue collaborating with government and non-governmental agencies to ensure a more comprehensive, effective and structured approach. Healthy promotion messages will also continue to be delivered via clinics, community outreach, and social media platforms. Miri Health Office War on Sugar
Yahoo
18-04-2025
- Business
- Yahoo
How Kingsbarn revived $105M Skims Hollywood HQ deal
All's well that ends well in Hollywood. Kim Kardashian's voguish shapewear startup Skims is mending the seams with its new Hollywood landlord, Kingsbarn Realty Capital, after the private equity firm brought a zombie deal back to life. Kingsbarn finally rested its case against former lender, KeyBank, and co-sellers Oscar Englebert and developer J.H. Snyder to buy 1601 North Vine Street for $105 million, or $905 per square foot. Hard money lender Hankey Capital provided a $52 million loan for the acquisition and additional financing came from Israeli firm IBI Volcano, according to a spokesperson for Kingsbarn and county property records. The terms of the loans are unclear, and a spokesperson for Kingsbarn did not provide further details. Kingsbarn was prepared to fork over more than that — $1,054 per square foot — when the property first went into contract in December 2022. It was vacant at the time, since former tenant WeWork decamped in October that year. And Englebert — a friend and business partner of Jens Grede, who co-founded Skims with Kardashian and his wife, Emma Grede — was already in contract to buy a majority stake of the building from developer J.H. Snyder. Things looked promising for all three parties, as J.H. Snyder and Englebert agreed to work toward a sale with Kingsbarn. They planned to close before Los Angeles' 5.5 percent transfer tax, known as Measure ULA, went into effect in March 2023. The cost of borrowing was meanwhile on the rise, and Kingsbarn hustled to secure $97 million worth of financing from KeyBank, which signed a term sheet for the loans a month before the closing date. Then the Ohio-based lender got cold feet. KeyBank reneged its offer at some point in the following weeks, and the deal fell apart in dramatic fashion. Behind the scenes, Kardashian's $4 billion fashion startup was working on a deal of its own to lease 116,000 square feet across the entire eight-story office building, and soon found itself caught in the legal crossfire of a real estate investment gone sour. Skims' 15-year lease was paramount to underwrite Kingsbarn's debt, and Jeff Pori, the company's CEO, described the startup in a statement as 'the perfect Hollywood tenant.' But to appraise the building and underwrite the deal, KeyBank needed Kingsbarn to prove that Skims wasn't yet occupying the building, though it had signed a lease in January. And Englebert did everything possible to prevent Kingsbarn from gaining access to prove the property was still empty, the company's lawyers later claimed in court. Kingsbarn was quietly building its case as the deal unraveled. Last April, the Nevada-based company sued J.H. Snyder and Englebert for unfair business practices, hoping to recover its $2.5 million deposit toward the purchase. Englebert, who could not be reached for comment, allegedly had trouble letting go of the building and its celebrity-linked tenant. Englebert 'turned Kingsbarn down and rebuffed Kingsbarn's efforts to obtain entry to the building,' the company's lawyers claimed in the April 17 complaint filed in California Superior Court in Los Angeles County. 'Englebert did this in order to conceal the fact that Skims still, by that date, was not actively occupying and conducting business operations from at least 70 percent of the premises.' And Kingsbarn didn't stop there. Last July, the company sued its own longtime lender KeyBank for revoking the loan terms and sending the deal into a tailspin. The wheels of justice turned in Kingsbarn's favor. A Superior Court judge rejected Englebert and J.H. Snyder's attempts to get the case dismissed and placed a lien on 1601 North Vine Street, according to court filings. By December, the parties had reached a detente and reinstated the purchase and sale agreement, lowering the building's price to $105 million from $122 million. Spokespeople for J.H. Snyder and KeyBank did not respond to requests for comment and Englebert could not be reached for comment. Pori, for his part, said in a statement, 'This purchase, along with our ability to secure financing for the building, is further evidence that the office market is recovering.' Kingsbarn will place the property into a Delaware Statutory Trust and offer fractional ownership to private investors for a 1031 exchange, according to the company. Kim Kardashian's Skims leases JH Snyder-owned Hollywood building Kingsbarn snaps up Hollywood offices occupied by Kim Kardashian for $105M KeyBank sued over derailed $122M deal for Skims-leased Hollywood offices This article originally appeared on The Real Deal. Click here to read the full story. Sign in to access your portfolio
