BBVA Compass Plaza Ground Breaking Ceremony Marks Official Start of Construction

HOUSTON, June 16, 2011 /PRNewswire/ -- BBVA Compass marked the official start of construction on its new corporate office building Monday with an official ground breaking ceremony. The 22-story, 312,000 square-foot LEED® gold certified building, of which BBVA Compass will occupy approximately 150,000 square feet and six floors, will centralize the bank's local executives, multiple business areas and staff units under a single roof.

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"This new office represents BBVA Compass' future home here in Houston where our employees can work in one unified location, a place designed for collaboration and the way people want to work today," said Manolo Sanchez, BBVA U.S. Country Manager and President and CEO of BBVA Compass. "It will play a vital role in our strategy to grow our business, particularly here in Texas and in Houston."

The ceremony was held at 2200 Post Oak Blvd. on June 13 and began with opening remarks from Sanchez who was joined at the ceremony by BBVA Compass Chairman, Larry Uhlick, and BBVA Compass Directors Terry Strange and Eduardo Aguirre. Steve Lerner, President and CEO, Redstone Companies Real Estate, and Preston Young, Co-Managing Partner, Stream Realty Partners Houston, who are leading the development as a joint venture provided additional comments at the ceremony. John Breeding, President and CEO, Uptown Houston provided closing remarks before the ceremonial first shovel. Other members of the Houston community present at the ceremony included: Bob Henricksen, CEO, The Redstone Companies, Tad Brown, CEO, Houston Rockets and Clutch City Sports & Entertainment, Brittany Seabury representing District 7 Congressmen John Culberson, Don Sweat, President, Galleria Chamber of Commerce, Irma Diaz-Gonzalez, Chairman, Houston Hispanic Chamber of Commerce, and Richard Huebner, President, Houston Minority Supplier Development Council.

"We are thrilled to break ground on the BBVA Compass Plaza," stated Steve Lerner, President & CEO of Redstone Companies Real Estate. "From the day we purchased this land in the early 1990s to the demolition of the long-standing Compass Bank building in 2009, it was always our vision to build a crown jewel in the heart of the Galleria. BBVA Compass has been a wonderful partner since they first came to Houston and we could not be happier to celebrate this milestone with them here today."

BBVA Compass' current corporate office buildings, which are located throughout the Greater Houston area, were established when BBVA combined its four U.S. subsidiaries – Compass Bank, State National Bank, Texas State Bank and LNB (formerly Laredo National Bank) – under the BBVA Compass banner in 2009.

"We are excited to be involved in such a fantastic project. This building will be world class in every sense," said Preston Young, Co-Managing Partner for Stream Realty Partners Houston. "We are thrilled to have a tenant of BBVA's caliber display such a strong commitment to our project and the Galleria office market."

The bank's new office building will be a welcome addition to the already thriving Uptown Houston area. Recognized for its unique blend of business and residential appeal, Uptown offers the best in shopping, hotels, dining and entertainment to more than 30,000 residents in the area. The bustling business center is also home to more than 2,000 diverse companies. BBVA Compass looks to complement the area's already prestigious reputation with the addition of its local operations and continued investment in the community.

The new BBVA Compass corporate office building is designed to meet all LEED® gold standard requirements, the second highest certification in the rating system. The building will also feature two signature restaurants offering outdoor seating at its main level. Manhattan Construction has been brought on to manage the overall build, with HKS Architects overseeing all design elements. BBVA Compass expects to begin occupancy of the building in early 2013.

This project is the first of three corporate building updates for BBVA Compass with new corporate office buildings also planned in Dallas and Birmingham.

Prior to the event, BBVA Compass also announced a new multi-year corporate partnership with the Houston Rockets. As part of the agreement, BBVA Compass will be the presenting sponsor of www.toyotacentertix.com. The parties will also design and develop a new booth at Toyota Center called the Season Ticket Holder Home Court presented by BBVA Compass, giving fans the opportunity to sign up for the Rockets affinity card. In addition, BBVA Compass will be the presenting partner of the Financial Literacy Program, the Rockets Spanish website, as well as the Rockets Partner Forum – a series of business networking events.

ABOUT BBVA COMPASS

BBVA Compass is a Sunbelt-based financial institution that operates more than 716 branches, including 380 in Texas, 93 in Alabama, 65 in California, 77 in Arizona, 45 in Florida, 36 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top-20 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (3rd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the nation's leading Small Business Administration (SBA) lenders, earning "Lender of the Year" honors in 2009 and 2010. Additional information concerning BBVA Compass can be found on our website www.bbvacompass.com.

BBVA Compass is a subsidiary of Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with approximately $770 billion in total assets, 48 million clients, 7,400 branches and approximately 109,000 employees in more than 30 countries. BBVA ranks among the top-20 largest financial institutions in the world based on market capitalization and 21st in Global Finance magazine's list of the "World's 50 Safest Banks" for 2010. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States, as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, Turkey and the United Kingdom. More information about the BBVA Group can be found at www.bbva.com.

ABOUT THE REDSTONE COMPANIES

The Redstone Companies is a privately-owned company located in Houston, TX with a focus on hospitality, real estate and private equity. Hospitality brands include The Houstonian Hotel, Club & Spa; Trellis, The Spa; Houstonian Lite-Pennzoil; Shadow Hawk Golf Club; The Houstonian Golf & Country Club; Redstone Golf Club; and BlackHorse Golf Club. Managed properties include Lakeway Resort and Spa, Houstonian Lite-Wells Fargo and Vanderbilt Legends Club. The Redstone Companies has been involved with many charitable programs throughout the years, including but not limited to, the Shell Houston Open, The First Tee of Greater Houston, the YMCA of Greater Houston and the Zina Garrison Academy. For more information, please visit www.redstonecompanies.com.

ABOUT STREAM REALTY PARTNERS

Stream Realty Partners is a full service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 300 real estate professionals that share one common goal: to provide an unequaled level of service to their clients. Stream's professionals combine significant expertise in all facets of the commercial real estate industry. Stream leases and/or manages over 60 million square feet of commercial buildings in Texas, the Southeast and the West Coast. For more information, visit Stream's website at www.streamrealty.com.

Editor's note: BBVA Compass is the trade name of Compass Bank and is a trademark of Compass Bancshares, Inc. Compass Bank, member FDIC.

SOURCE BBVA Compass