Company description: Remington-Hall Capital Corporation (Nasdaq:UNFC) is a Dallas-based diversified real estate investment firm. Formerly known as Universal Fuels Company, the corporation was founded in 1975, but as the company's principal product, uranium, became less used as a nuclear fuel source than other more economical materials, Universal Fuels' stock declined almost to extinction.
In late 1997, officials from Camden-Townwest, a privately-held real estate investment company, approached Universal Fuels management about merging their assets into Universal Fuels through a stock purchase. Founded in 1994, Camden-Townwest grew from $19,000 in cash to $3 million in assets in three years without seeking any outside capital. Such rapid growth demanded Camden-Townwest find access to extensive financial resources, which is available through the public market.
Remington-Hall specializes in acquiring multi-family and mid-rise commercial office buildings through merger and debt restructuring. The company aggressively pursues unique investment opportunities in steeply undervalued assets due to previous owner mismanagement or undercapitalization. The company anticipates acquiring over $50 million assets by the end of 1998.
Remington-Hall management is headed by senior executives with diverse experience including Fortune 500 corporations, leading stock brokerage firms, real estate companies and national marketing campaigns. Douglas T. Fonteno, previously chairman of Camden-Townwest and formerly with Merrill Lynch, is Remington-Hall's new president and chief executive officer. Larry Hood, formerly chief operating officer of Pizza Inn and chief financial officer of Reliance Mortgage Company, is Remington-Hall's chief financial officer. Wade Hyde, formerly Blockbuster Video public relations director and investor relations manager for FoxMeyer Corporation, is vice president of marketing and public relations. |
