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Marina Beach Shopping Center

Master plan and business plan, and ongoing asset management, for conversion of marina holdings in Marina del Rey into an in-region destination resort.

 

Work effort included strategic marketing considerations in formulating “big ideas” for the multi-property resort. Master plan was then processed and approved by the California Coastal Commission. The Marina Beach Shopping Center was part of the portfolio.

 

Banning Lewis Ranch Acquisition

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.

 

The Ritz-Carlton Hotel New York

Owner representative and asset management of The Ritz-Carlton on Central Park in New York.   Asset management included hotel management contract restructuring negotiations, renovation program preparation and implementation, and owner representation to operator.

 

In early 2005, after a couple more changes of ownership, the hotel facility was acquired by a development group interested in converting the facility to residential condominium ownership. Even while operating as a lodging facility, the property had several occupants holding a right to occupy their units as residences under long-term leases.