Calaveras County: DLR has closed on two land-secured refundings for Saddle Creek, a golf community in the Sierra Nevadas. The Sales and Trading Desk found buyers who understood the developer’s long-term strategy.  •  Palmdale: DLR was sole Senior Manager on federally taxable Certificates of Participation so the city could acquire 600 acres for a 550-megawatt power plant to attract and retain businesses.  •  Chowchilla: DLR senior-managed a special bond for critical infrastructure improvement until development impact fees can be raised to support $93 million in residential, commercial and industrial projects.  •  Pittsburg: DLR was Senior Manager on a tax-allocation bond that raised almost $100 million for housing and other projects, and saved the city’s Redevelopment Agency another $3.5 million by refinancing earlier bonds.  •  Chula Vista: DLR senior-managed a tax-allocation bond after Chula Vista demonstrated that the future assessed value of the city’s Bayfront-Town Centre offsets a highly concentrated tax base.  •  Los Angeles: As book-running Senior Manager, DLR structured a $34.5-million pooled financing for the city’s Community Redevelopment Agency without a yield spread to adhere to the CRA policy to complete separation between project areas.  •  DLR senior-managed refunding of all outstanding debt at Ontario Airport, increasing the L.A. Department of Airports’ flexibility to define net revenues and its debt-service reserve fund – and reaffirm its “A” rating.  •  Long Beach: The city recently issued more than $190 million in redevelopment project financing, including $115 million of taxable bonds, in a Marks-Roos pooled issue to fund projects in five areas.  •  From naval base to housing space: Few could envision a new community when the Alameda Point Naval Air Station was decommissioned a decade ago. Today, a highly successful development with 300 homes occupies part of the old base.  •  Riverside County: DLR senior-managed a $25-million Mello-Roos financing to improve street, water, sewer, and other public facilities at Lake Hills Crest, a development with 512 single-family detached units.
 

Forrest G. Kontomitras
Director, Structured Products
Los Angeles Office
Tel: (310) 775-8210
fkontomitras@ejdelarosa.com
Forrest G. Kontomitras heads De La Rosa & Co. sales of structured mortgage products, including collateralized obligations, subprime asset-backed securities, and other non-investment grade bonds. Kontomitras has more than 20 years experience in sales and trading for financial institutions. He specializes in credit-sensitive, cash-flow assets for institutional investors.

Before joining De La Rosa in 2007, Kontomitras was the West Coast Director for Sterne, Agee & Leach, and earlier served as the Managing Director, Head of Fixed Income at Hoefer & Arnett. Previously, he was a founding partner at Coastal Securities, and traded for Imperial Capital LLC, Kemper Capital and Compass Bank (Central Bank of the South).

Kontomitras graduated with honors from Samford University in Birmingham, Alabama, with a degree in Business Administration and a concentration in Finance and Economics. He is registered with the NASD and holds Series 7 and 63 licenses.
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