real estate investment property

Shamil fund success

MANAMA: Bahrain-based Shamil Bank announced a successful partial exit of the $50-million US Development Opportunities Fund I Limited (USDOF I) through the disposition of one of the assets comprising the portfolio.

USDOF I, one of Shamil's real estate Modaraba Funds, provided investors with an opportunity to invest in the development of two condominium projects in the US - one in Fairfax, Virginia and the other in Miami, Florida.

The Fund, which was subscribed for in December 2005, projected the realisation of an internal rate of return (IRR) of 17 per cent over an investment period of two years.

In its capacity as the Modareb, Shamil Bank has closely monitored the investment's progress leading to the successful exit from the Virginia-based project at an IRR one-hundred basis points higher than initially projected.

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South Bulletin Board

Bethel Park -- Christ United Methodist Church, 44 Highland Road, will host the 42-member choir from Hope College for a concert at 7:30 p.m. tomorrow. Cost is $10 or $5 for students. Tickets can be purchased in the church office. For more information, call 412-835-6621.

Bethel Park -- Round Table Ministries will hold Wednesday night family dinners from 5:30 to 6:30 every Wednesday at Christ United Methodist Church, 44 Highland Road. Cost is $5 for adults, $2.50 for children ages 12 and under.

Christ United Methodist Church will also host Kids Connect Club at 6:45 p.m. Wednesdays. A storyteller will perform Wednesday. To register, call 412-835-6621.

Mt. Lebanon -- Mt. Lebanon Christian Church, Cedar Boulevard and Hollycrest Road, will hold adult Sunday school classes at 10 a.m.

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Creating congestion in a roundabout way

One of the only real advantages in being considered nuts is that you have nothing to lose in expressing an opinion. That, and people generally allow you the privacy of your own gondola cabin when heading up the mountain.

With that preface, I am going to give you my radical and previously unexpressed solution to alleviate some local traffic congestion.

Here it is in my own humble and well chosen words: Bulldoze the roundabout and re-install a traffic light in its place.

I'm serious.

The reason is simple: Our $6 million traffic circle on the outskirts of our town doesn't work.

The reason it doesn't function well is that traffic circles always favor a flow of traffic that crosses (read: cuts off) another flow of traffic, irregardless of the volume of any particular competing flow of automobiles, busses, and trucks.

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A Loser Fairy Tale

THE GIRLS ARE WAITING -- a ritual whenever Benji and Joel Madden are working in rock-star mode.

It's a Saturday afternoon at XM Satellite Radio's headquarters in Northeast Washington, and the identical twin brothers have just finished performing some of the songs they've written together for their band, Good Charlotte. Just two voices and an acoustic guitar, the way it was in the beginning, when they were 16-year-olds from Southern Maryland hellbent on becoming famous. This concert taping is an important promotional date for the brothers, who are hoping to generate interest in a new Good Charlotte album even as they wonder whether their band's moment has already passed.

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