Winner Of Two Historic Women’s Air Derby Races,
(August 18, 2005)
--- Desert Capital REIT, Inc., a Henderson, Nevada-based real estate
investment trust, will showcase its freshly established 42,000-square-foot,
two-story corporate offices at 1291 Galleria Drive, while unveiling
its 23-foot, 1,400-pound restored airplane wing conference room table
today from 5 p.m. to 7 p.m.
It will be exactly 75 years
ago that Southern California aviation pioneer Gladys O’Donnell
took first place in the 1930 Women’s Air Derby from Long Beach,
Calif., to Chicago in her Waco Taperwing airplane. The winning wing
will be dedicated in a ceremony with Lorraine O’Donnell Doyle,
daughter of Gladys O’Donnell, and author of Second To None
Desert Capital REIT commissioned
the restoration of the winning wing, which will serve as a conference
room table at its new corporate headquarters.
preserved airplane wing stands as a symbol of the pioneer spirit, tenacity,
and determination of all women in American aviation,” said Todd
B. Parriott, CEO and Chairman of the Board of Directors of Desert Capital
REIT, Inc. “And
The wing conference room
table dedication and new building ceremony will be highlighted by Proclamation
presentations by Nevada Governor Kenny C. Guinn’s office and Henderson
Mayor James B. Gibson. Also expected to attend the ceremony is Henderson
City Councilman, Jack K. Clark, Ward III; Henderson City Economic Development
Manager Bob Cooper; and other dignitaries and special guests.
Desert Capital’s new
building was originally built in 2002 and the final sale was complete
in mid 2005 at a cost of $6.3 million. The new facility is home to Desert
Capital REIT, Inc., CMC Financial Services, Inc., Consolidated Mortgage,
LLC and Residential Capital Corporation, which occupy 21,000 square
feet of office space on the second level, that now features three reception
stations servicing 41 offices in the four divisions and include more
than 50 employees. The overall design of the space has a contemporary
feel, while maintaining a traditional financial ambiance.
Adding to the present-day
air of the new building with its wing conference room table design and
restoration is MotoArt of Torrance, Calif., designers and manufactures
of industrial functional art from vintage aircraft and munitions, and
WACO Classic Aircraft Corp. of Battle Creek, Mich., a vintage aircraft
manufacturing and restoration company.
The refurbished wing took
five primary artists more than 300 hours to design and restore and from
tip-to-tip measures over 23 feet, with a width of more than 5 feet in
the center point. Two separate glass pieces weighing more than 1,200
pounds combined serve as the wing’s desktop. Specialty lighting
in the wing highlight the ribs of the structure. The red and yellow
colors are identical to those featured on the airplane in the 1930s.
More than 90 percent of the wing’s wood is original. The airplane’s
last flight was in the early 1960s.
About Desert Capital
Statements included herein that state the company’s or management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements.