Representing partner in this 50/50 joint venture, provided partner (owner) representation and asset management of this prominent suburban Chicago hotel, situated within.
The hotel facility, as well as Woodfield Corporate Center, are situated adjacent to Woodfield Mall, a prominent Chicago suburban regional shopping center. The Village of Schaumburg, Illinois has grown to become the retail commercial hub of the northwest suburbs. The village is home to Medieval Times, Spring Valley Nature Sanctuary, and many restaurants and hotels. Schaumburg is also the location of more than 13 million square feet of industrial space occupying over 1,600 acres of land.
Acted as corporate asset manager to the company’s portfolio of owned / managed hotel properties, and hotel ground leases.
As part of Business Planning Dept. role, oversight of hotel division operation for purpose of asset management and corporate Board operational results reporting.
Properties under asset management included the Four Seasons Newport Beach (now The Island Hotel Newport Beach) and the Irvine Hilton (now Hyatt), as well as a portfolio ground leases related to additional commercial lodging and resort facilities.
The Irvine Company hotel portfolio, including ground lease interests, is part of a century-old, privately held company based in Orange County, California, and specializing in real estate development. The company is best known in Orange County as the developer of master-planned communities and quality commercial office, retail, and industrial properties throughout California. The Irvine Company grew out of the 185 square mile ranch founded by James Irvine and two other partners in 1864 from Mexican and Spanish land grants. The ranch at one time covered well over a fifth of Orange County, California.
Working as a real estate consultant on retainer with the Community Redevelopment Agency of the City of Los Angeles, a feasibility evaluation was prepared of a potential transfer of development rights (TDR) program.
StoneCreek Partners worked with the Morongo Band of Mission Indians to prepare a comprehensive economic development strategy for the Native American tribe’s vast landholdings and casino in Cabazon (Palm Springs, California area).
The economic strategy included a master plan and land development strategy for all lands along the interstate that leads in and out of Palm Springs. Phase 1 conceptual plans included relocation of the tribe’s existing casino, into the heart of a new master-planned development. Casino Morongo Resort & Spa, a 304-room hotel with 113,000-square-foot casino, was subsequently constructed by Perini Building Company.