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Owner Representation Consultants

Real Estate Acquisition – Banning Lewis Ranch

NEI / Al Tameer Trading Est.  |  Acquisition and property management of master-planned landholding on behalf of a major offshore investor client, Banning-Lewis Ranch was purchased from the Resolution Trust Corp. for $18.5 million. The property had been assembled, acquired, and held for development by well-known Colorado entrepreneur Frank Aries, through more than $200 million in investment in infrastructure and land purchases. The property was re-sold several years later for $60 million.

 

Banning-Lewis Ranch is a highly strategic landholding, existing essentially as the entire direction of growth for metropolitan Colorado Springs, encompassing more than 20 square miles along the city’s eastern edge.

 

Condominiums at Calhoun Beach Club

Sojitz Corp.  |  Real estate due diligence services were provided in support of client’s underwriting efforts, in connection with a proposed investment in Calhoun Beach Club’s major renovation and expansion.

 

Calhoun Beach Club is a well-known local athletics club, social club, luxury apartment complex, and social banquets location, overlooking Minneapolis’ scenic downtown lakes. Located on the shores of Lake Calhoun, in one of the finest Minneapolis neighborhoods, Calhoun Beach Club is an experience unlike any other you?ll find in the region. Just minutes from downtown and easily accessibly from area suburbs, the club is at the heart of a network of parks and tree-lined lakes with miles of running, walking and biking paths at your doorstep.

 

Lakeside Shopping Center

Phillips Edison & Company, Inc. REIT  |  StoneCreek Partners provided due diligence consulting  in connection with buyer’s shopping center acquisition, including property inspections, Phase 1 environmental reviews, tenant lease confirms, and rent rollover analysis, for this grocery-anchored community shopping center.   Support of the buyer included preparation of tenant lease abstracts, estoppels, SNDA (subordination, non-disturbance and attornment) provisions, and a review of common area charges (CAM) and vendors, among due diligence items.

 

Tenancies at Lakeside Shopping Center included a typical roster of anchor and inline retail tenants, along with a Kroger Fuel Center (gas station) with limited convenience store offerings.

 

aec Adventure Entertainment

Foster & Kleiser Acquisition

Foster & Kleiser Outdoor Advertising  |  Preparation of Foster & Kleiser consolidated corporate financial projections to support prospective acquisition by third-party.  Work included select due diligence review of information and assumptions suggested by the company’s management.

 

Founded in 1901, Foster & Kleiser Outdoor Advertising was outdoor advertising’s original pioneers and have been credited with propelling the industry from simple posters pasted onto any available surface to standardized structures that are uniform, attractive and often feature landscaping enhancements.

 

The company was eventually acquired by a division of Metropolitan Broadcasting called Metromedia, and was ultimately sold to Patrick Media Company. After 85 years of operation under the Foster & Kleiser name, the company was re-named as Patrick Media Group in September 1986. In 1995, Karl Eller and Partners acquired all assets of the company and renamed the business unit as Eller Media Co. In 1997, Eller Media Company became a wholly owned subsidiary of Clear Channel Communications.

 

 

Hyatt Regency Hotel Portfolio

Due diligence of portfolio of existing Hyatt Regency hotels operating in Saudi Arabia, for potential portfolio acquisition by client. The due diligence report included an evaluation of competitive hotels, management contract review, and an analysis of each facility’s sales and operating history. One of the hotels (shown in accompanying photo) has since been re-branded as a Radisson Blu).

 

Departmental staffing and profitability and 10-year EBITDA projections were also prepared, as part of the work.

 

Hamilton Cove Avalon

BCED  |  Business plan alternatives for alternative capital recovery strategies, in connection with luxury “resort residential” development.

 

Business plan and financial feasibility analysis of this scenic residential resort community located on Catalina Island, just 26 miles off the coast of Southern California.

 

Hamilton Cove is situated in a private cove next to the town of Avalon, the main community of Catalina Island. Many of the secluded villas of Hamilton Cove are offered for rent for weekend, weekly, and seasonal occupancy.

 

Catalina Island history goes back well before recorded times, but we know that the Pimungans of Santa Catalina Island first met European travelers in 1542 – when the native peoples paddled out to greet Spanish explorer Juan Rodriguez Cabrillo and his galleon – just 50 years after Columbus first entered the Western Hemisphere. The island was claimed by Spain. Santa Catalina Island was awarded by Mexican Governor Pio Pico to Thomas Robbins as a land grant in 1846, just four days before the United States invaded California.

 

Hotel Development Consultants

Huntington Hotel Pasadena

Feasibility study for required capital improvements program related to the Huntington Hotel Pasadena (subsequently rebuilt as the Ritz-Carlton Hotel Pasadena, now The Langham). The hotel, owned by a major Japanese investment and development organization, was determined to require major life-safety (earthquake reinforcement) upgrades as well as wide-ranging improvement to guest areas including rooms and restaurants.

 

Work included a market study, financial projections, capital improvements budget review, and an investment performance evaluation to justify required capital items. The objective was to determine the overall feasibility of various disposition, reconstruction, or substantial renovation alternatives in connection with a pre-litigation evaluation of Owner’s options.

 

Hotel later rebuilt as the Ritz-Carlton Huntington Hotel.

 

Redevelopment Project Consultants

Cameo Woods – Condominium Conversion

Hotel del Coronado Corp.  |  Market study and financial analysis for Rodeo La Cienega redevelopment project area, also known as Cameo Woods.  Market and financial feasibility studies for Hotel del Coronado Corp., the developer working with the Los Angeles CRA in securing redevelopment project area designation for this 24-acre, 384-unit residential renovation project.

 

 

StoneCreek Partners  StoneCreek Partners  StoneCreek Partners  StoneCreek Partners  StoneCreek Partners  StoneCreek Partners

 
 

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