Descriptions of Dan Poremba's select projects, including airport commercial development, public-private partnership projects (P3), transit-oriented developments (TOD), large mixed-use projects and major asset management portfolios.
1. DANIEL POREMBA – SELECT PROJECTS
A proven leader of complex real estate projects and property portfolios
successfully managed via hands-on implementation of creative strategies and
effective direction of diverse project teams.
MIXED-USE & COMMUNITY DEVELOPMENT ▪ AIRPORT COMMERCIAL DEVELOPMENT ▪ BUILD-TO-
SUITS ▪ PROJECT MANAGEMENT ▪ PROJECT FINANCE ▪ ASSET MANAGEMENT ▪ SALES &
ACQUISITIONS ▪ STRATEGIC PLANNING ▪ BUSINESS DEVELOPMENT ▪ PROJECT WORKOUTS
AIRPORT-CENTRIC COMMERCIAL REAL ESTATE
Denver International Airport (DEN) Commercial Real Estate Program. In July of 2013, I became the first Senior Vice
President/Managing Director of Commercial Real Estate Development at Denver International Airport (known as “DEN Real
Estate”). My responsibilities included the planning of approximately 17,000 acres for mixed-use commercial development,
including three transit-oriented development projects. This is the acreage that is available after allowing for the planned full
build-out of the Airport to 12 runways (6 runways today).
The focus of this 2-year, 2nd-generation
planning effort resulted in the creation
of a “Nodal Development Strategy.”
As depicted in the aerial above and the
site plan to the left, this development
strategy will focus on a dozen potential
nodes to be developed over the first
twenty-five years.
These development nodes were defined
by their accessibility to roads and
infrastructure, planned development in
adjacent communities and various FAA-
determined constraints, including
height limitations.
2. DANIEL POREMBA – SELECT PROJECTS PAGE 2
Resolution of Regional Development Disputes. The nodal development plan formulated
under my direction at Denver International Airport directly contributed to the successful
negotiations between Denver and Adams County to resolve the long-standing conflict
over the commercial development limitations on DEN land.
I served as a senior member of the negotiation team
for Denver and DEN. Following three years of intense
negotiations between Denver and Adams County, a
resolution agreement was overwhelmingly approved
by the voters in Denver and Adams County on
November 3, 2015 (Denver Mayor Michael Hancock
and Aurora Mayor Steve Hogan celebrate the
Amendment at right).
The new agreement will allow Denver to develop
initial commercial uses on 10,000 acres of airport property. I also managed a Federal
Highway Administration Grant for a multi-jurisdictional 2016 Aerotropolis Visioning
Study which provided the foundation for a regional governance entity called for in the
agreement to evaluate related regional infrastructure projects and implement regional
marketing efforts.
Mixed-Use, Transit-Oriented Development and Public/Private Partnership Projects. At Denver International Airport, I also
directed all steps to move forward with three transit-oriented development (TOD) projects located on DEN land, along Peña
Boulevard (below). All three projects, totaling more than 800 acres, are located along the new FasTracks A-Line which
connects the Airport to Downtown Denver’s Union Station (opened for service April, 2016).
At all three locations, I worked proactively with the Regional Transportation District (RTD) and the adjacent private property
owners to create successful transit stations, TOD plans, entitlement approvals and financial structures that will help ensure
the success of these projects. These transit-oriented developments will contribute to the long-term financial sustainability of
Denver International Airport and the entire 122-mile RTD FasTracks system.
3. DANIEL POREMBA – SELECT PROJECTS PAGE 3
Peña Station Transit-Oriented Development. For
this 400-acre TOD, I led the negotiations on a
complex package of development and finance
agreements with three adjacent landowners and
then orchestrated successful approval by the
Denver City Council. The City and Airport agreed
to fund the construction of the transit station,
adjacent plaza, 800-car parking lot and much of
the initial phase connecting roads and utilities.
The neighbors agreed to repay the Airport from
special district assessments on their property. This
approach required extensive negotiations with
the FAA and approval by airlines.
The City, DEN and the other property owners were
rewarded in December of 2014, when Panasonic
Enterprise Solutions Company selected Peña
Station as the site for their headquarters facility.
Panasonic Headquarters. Following a national
site selection competition, Panasonic Enterprise
Solutions Company selected Denver and,
specifically Peña Station, for their headquarters
facility. I helped guide the negotiations, including
coordination of City and State financial incentives
and the implementation of a Memorandum of
Understanding between the parties.
With Panasonic’s involvement, Peña Station is
now being developed as a global showcase for
“Smart City” and Public-Private Partnership or
“P3” community development. Working with
Panasonic, the Airport, the City and other property owners at this station, I guided negotiations regarding key sustainability
elements, including a solar-driven microgrid and various smart city elements pertaining to security, street lighting, WIFI and
other community amenities and services.
United Airlines Training Center.
Coming on the heels of the
Panasonic announcement, I also
had the exciting opportunity to
respond to the site selection
competition for United Airlines
consolidated flight training
center, the largest of its kind in
the world.
I and our planning team worked
with three selected build-to-suit
developers to create a detailed
proposal to develop the new facility adjacent to the Peña Station transit station (above rendering). I also worked closely with
the Denver Mayor’s Office, the Denver Office of Economic Development and the Colorado Office of Economic Development
and International Trade to coordinate the critical financial incentives to secure this economic development win.
Although United ultimately elected not to build a ground-up facility, the competitive effort resulted in United’s decision to
make Denver the location for its consolidated flight training center by expanding the exisiting facility at the former Stapleton
Airport. This decision resulted in the City of Denver retaining and adding many high-paying jobs.
4. DANIEL POREMBA – SELECT PROJECTS PAGE 4
40th
Avenue Transit-Oriented Development. On behalf of Denver International Airport, I negotiated a Memorandum of
Understanding (MOU) with the adjacent landowner, Pauls Corporation, to collaboratively plan, entitle and develop a high-
profile, 100-acre, TOD project at the intersection of Peña Boulevard and I-
70 in Aurora, Colorado.
The initial master planning and traffic studies were completed as the basis
for structuring a second phase MOU and initiating planning conversations
with the City of Aurora, the Colorado Department of Transportation and
the Regional Transporation District.
Airport P3 Redevelopment. With LaSalle Partners, I led our team’s efforts to be
selected as the City of Denver’s master developer for the redevelopment of the
former 4,500-acre Stapleton Airport site. The LaSalle Partners team was
successfully short-listed but ultimately finished second to Forrest City, which had
pursued the project for many years. Related to this effort, the City subsequently
selected LaSalle Partners to manage the redevelopment planning for the Union
Station Property.
The Stapleton redevelopment planning was relevant later as I directed the second
phase of master planning for Denver International Airport. Many of the ideas
utilized for the commercial development of the Stapleton property were later
evaluated incorporated in the DEN Real Estate land plan.
NON-AIRPORT MIXED-USE, TRANSIT-ORIENTED DEVELOPMENT (TOD)
AND PUBLIC-PRIVATE PARTNERSHIP PROJECTS (P3)
Mixed-Use Land – Acquisition, Planning and Entitlements. For a prior employer and consulting client, I identified and
acquired this high-profile 165-acre interchange parcel adjacent to Fort Carson in Colorado Springs, Colorado.
I successfully rezoned the land
for 500,000 SF of commercial,
600 multi-family units and 250
townhomes. Approvals for more
than $26 million in public
improvement bond financing
and a Private Improvement Fee
mechanism (PIF) were obtained
to fund site improvements.
Working with the brokerage
community, I secured initial
commitments from several big box retailers and, following a recession delay, the property was successfully developed.
5. DANIEL POREMBA – SELECT PROJECTS PAGE 5
Urban Mixed-Use and TOD Development. Hines Interests contracted with me to provide a detailed evaluation of the
potential $75 million acquisition of a 68-acre development opportunity in the Lower Downtown (LoDo) area of Denver (The
Commons and Union Station properties). I previously spent several years advising the owner, Trillium Corporation, on
disposition strategies, including joint venture discussions with various real estate developers and investors. I also served on
the initial Board of Directors for the Special Improvement District which financed and constructed the initial infrastructure.
I completed a comprehensive feasibility analysis package for the two properties. I also recommended specific acquisition
tactics to Hines, including measures to orchestrate meetings between the Chairmen of both firms, Gerald Hines and David
Syre. Hines did move forward and make a joint venture proposal to Trillium.
Hines’ proposal was pre-empted by Trillium’s sale of the residential land to East-West Partners and sale of the Union Station
property to the Regional Transportation District. However, based on my market analysis, Hines subsequently acquired the
adjacent US Postal Annex property which they successfully developed and sold as a 320,000 SF mixed-use building.
Mixed-Use Land Acquisition and Development. For Prudential, I negotiated a joint venture with local partners covering 240
acres in the Denver Tech Center ($88 million Prudential capital contribution over 10 years). In support of the project, I
authored a strategic report for Prudential’s senior management entitled “In Defense of Denver,” which detailed the rationale
for long-term investment in Denver. I co-managed all land and vertical development and sat on the Venture Executive
Committee, the Special Improvement District Board and the Architectural Control Committee.
During an initial period of very challenging market conditions, I co-directed the venture’s land dispositions through land sales
for hotel, office and residential uses and utilization of land for select vertical development projects. I helped negotiate a joint
venture with the Simon Company to develop a 1.5 million SF regional mall (in red above right). When Denver voters failed to
approve needed subsidies, the project was developed in neighboring Douglas County as the Park Meadows Mall.
6. DANIEL POREMBA – SELECT PROJECTS PAGE 6
Public Agency TOD and P3 Development. I was retained by the E-470 Public Highway Authority to oversee the planning and
development of high-profile service plazas on six sites totaling 100 acres located around the toll road. The purpose was to bring
retail and services to toll road customers and create a unique visual image that would help “brand” the toll road. Part of the
challenge was to plan buildings that could be leased up over a long period as residential developed in the surrounding areas. It
was also anticipated that early retail development at key locations would help accelerate residential development and ridership
around the toll road.
I selected and managed the project team. A “red wall” scheme evolved as a sculptural site improvement into which retailers
and service providers would be “plugged in” over time. The concept was that the service plaza could be built and achieve many
of the Authority’s objectives without needing to be leased up in the early years. I managed the competitive procurement process
to select a master developer to build, finance and operate the plazas.
I delivered a comprehensive package of recommendations for the design, development strategy, financing and master developer
selection which were approved by the Authority’s senior management and Board of Trustees. Subsequently, the Authority’s
senior management changed and the service plazas were not further pursued.
Mixed-Use Project – Workout Advisory Services. Colorado Crossing is a 153-acre mixed-use project in Colorado Springs,
Colorado (below). The developer funded $70 million in costs out of pocket before running out of money with $20 million in
mechanics lien claims. Partially-complete improvements include three office buildings totaling 175,000 SF, a 1,100-car parking
garage and a multiplex movie theater.
At Development Advisors, we spent several years serving as an informal advisors on this complex project, first to the
developer, then to the creditors and later to the Bankruptcy Trustee who formulated the Reorganization Plan for the project.
Eventually, we orchestrated the introduction of two well-qualified mixed-use development firms to potentially partner with
the Trustee under a multi-year liquidating trust structure.
7. DANIEL POREMBA – SELECT PROJECTS PAGE 7
P3 Conference Center and Hotel. For Prudential, I managed a 112-acre land
development known as CentrePoint in Aurora, Colorado. This project was granted high-
density, mixed-use zoning and tax-increment financing. In exchange, the City expected
to see a “new downtown” emerge.
As the original joint venture with a local partner was being dissolved, I engaged
replacement partners with expertise in the development of conference and hotel
facilities (via public-private partnerships).
This new approach succeeded in winning the City’s extended project support, which
provided the time to modify the entitlements which later allowed the property to be
successfully sold off in pieces.
Mixed-Use Development – Project Finance and Advisory Services. Houston Pavilions is a $160 million, 550,000 SF, 3-block
mixed-use project in Downtown Houston (below). I arranged the critical bridge equity financing for the developer,
Entertainment Development Company, which allowed the development to proceed.
Due to the severe real estate recession, this project was later foreclosed on by the original construction lender and presented
the potential for a successful capital restructuring. The institutional investor, CalPERS, wrote off all of its $50 million equity
investment. I advised the limited partners on bankruptcy and capital restructuring strategies with the goal of exploring a
favorable buyout and/or minimizing their after-tax losses.
Mixed-Use – Acquisition, Development and Asset Management. For Prudential, I
directed the joint venture acquisition, development and asset management of “City
Center,” the largest mixed-use complex in Downtown Denver (4 office buildings totaling
3-million SF, a 400-room Marriott Hotel, 70,000 SF of retail and 2 parking garages for
more than 15,000 cars).
For three years, I prepared and monitored the annual capital and operating budgets and
oversaw the various leasing and management firms. I periodically briefed Prudential’s
pension fund investors about the project and later negotiated the buyout of Prudential’s
local partners.
I helped Prudential avert a financial disaster by negotiating a transaction in which
700,000 SF of space initially leased to a failing Petro-Lewis Corporation was re-leased to
US West (the predecessor to CenturyLink. The negotiated lease termination payment
from Petro-Lewis subsidized the US West lease and the building was subsequently sold
to the new tenant for $235 million. This successful disposition was made possible
because the tenant’s request for a purchase option in the lease was successfully resisted.
8. DANIEL POREMBA – SELECT PROJECTS PAGE 8
Urban Mixed-Use Redevelopment. For Prudential, I spearheaded the
redevelopment of the dated Prudential Plaza in Downtown Denver. This 3-
building, square block complex was redeveloped into a mixed-use property
which competed favorably with much newer office buildings. The redeveloped
property includes 500,000 SF of office, 100,000 SF of retail and a 700-car
below-grade parking garage.
To facilitate the conversion of 100,000 SF of office to retail, I recommended
that a lease with the IRS encumbering most of this space not be renewed (in a
high-vacancy market). The resulting introduction of retail and restaurants
contributed to the successful redevelopment and, in turn, a property sale at a
value which was roughly three times the pre-redevelopment appraisal.
Development Air Rights – Predevelopment and Disposition. This Wells Fargo
consulting assignment involved perfecting the foreclosed entitlements for a
300,000 SF office building on top of the Macy’s Department Store in downtown
Washington, DC. This required extensive negotiations with the Washington, DC
Redevelopment Agency and the Transit Authority (the property is located above
the main downtown Metro light rail station).
After successfully negotiating the development agreements, I initiated contact
with potential buyers via a competitive bid process. This produced a successful
sale of the air rights at a price that maximized Wells Fargo’s loan recovery and
facilitated the subsequent development of the project (right).
OFFICE
Build-to-Suit for Hewlett-Packard – Development and Sale.
While serving as a consultant for the Galbreath Company, I
assembled and directed the project team that successfully won
the highly-contested right to construct a 170,000 SF suburban
office building leased to Hewlett-Packard in Douglas County,
Colorado. This was a notable victory in that my developer client
did not own any development parcels, whereas all other
competing developers did. Prior to construction, the lender
required that the building be sold on a preconstruction basis. Within several weeks, my team was able to satisfy this unusual
eleventh-hour loan condition, requiring tight coordination of accelerated buyer diligence. As a result, this project generated
a very substantial risk-adjusted profit for the client.
Urban Office – Acquisition and Redevelopment. At LaSalle Partners Development, my team was
responsible for the redevelopment of the 500,000 SF US Bank Tower in Denver, including the
addition of an adjacent 600-car parking garage and first-floor retail. The redevelopment was
proactively investigated in order to attract the capital partner required to acquire the property.
As a 1970’s highrise located on the Sixteenth Street Pedestrian Mall, redevelopment involved
extensive negotiations with the City on various zoning and code issues. Execution of this
redevelopment also involved intensive logistical coordination and creative marketing to attract
new office and retail tenants prior to construction.
This successful redevelopment resulted in a profitable sale of the property as a re-established
core asset to a passive investment fund.
9. DANIEL POREMBA – SELECT PROJECTS PAGE 9
Speculative Urban Office – Development, Lease-up and Sale. Chicago–based
ORIX Real Estate Equities, Ltd., recruited me to open and manage a West
Coast office in San Francisco and serve on the senior management team
directing the firm’s national development and acquisition efforts.
My responsibilities included development of the 135,000 SF San Mateo Plaza
office building. This project involved negotiation of a critical earthquake
insurance settlement following extensive damage that occurred during
construction. I subsequently negotiated a lease of the entire building to US
Sprint and generated a $10 million profit by selling the property prior to
completion.
San Francisco Acquisition Search. At ORIX, I directed office building acquisition
efforts in San Francisco, focusing on legacy buildings in the Financial District.
Detailed due diligence was conducted on a number of historic buildings including
the Flood Building (left).
I also pursued and won a competitive selection process to team with Chevron to
joint venture the development of a new office tower in Downtown San Francisco
(222 Second Street, later delayed by the Loma Prieta earthquake). My team then
researched and authored a report on unreinforced masonary buildings, which
assisted in the post-earthquake search for value-add acquisitions.
Following the earthquack, ORIX’s Japanese parent company elected to close the
West Coast office before San Mateo Plaza (prior summary) was completed and before any acquisitions could be closed. At
ORIX’s request, I completed the San Mateo project as an independent contractor. That contract facilitated my restart of Via
Development Advisors in San Francisco and also led to my long-term consulting work for Wells Fargo.
Urban Office – Construction, Asset Management and Sale. This Wells Fargo
assignment involved the construction completion, lease-up, property
management and sale of one of the Bank’s largest construction loan
foreclosures, a 300,000 SF office building in Washington, DC (the Edward
Bennett Williams Building). The anchor tenant was the law firm of Williams
& Connolly.
Although construction was substantially behind schedule, I was able to ease
a contentious situation and avoid a lease delay and large lease penalties. To
orchestrate the sale, I coordinated local buyer property tours and
communications, due diligence and purchase contract negotiations. The end
result was a record sale price to a Hines/GM Pension Fund venture.
Suburban Office - Development and Asset Management. For Prudential, I
co-managed the joint venture development of Regency Plaza One, a 306,000
SF spec office building in the Denver Tech Center, including the lead role in
closing a $65 million construction loan.
I was able to pursuade the nervous joint venture partners and lender to avoid
a reactive leasing strategy. This preserved a large block of space which was
successfully leased to a major credit tenant thereby achieving full lease-up
one year ahead of proforma (while other landlords were breaking up their
contiguous blocks of space). This lease-up success positioned the property
for a an early sale prior to its competition.
10. DANIEL POREMBA – SELECT PROJECTS PAGE 10
Corporate Campus – Build-to-Suit. While at
LaSalle Partners Development, I served as the
Project Executive responsible for the fee
development of the 560,000 SF Phase One
campus facility for Sun Microsystems (now
Oracle) located in the Interlocken Business Park
outside of Boulder, Colorado.
I coordinated the project managers who had separate responsibilities for development, shell and core construction, tenant
finish and move-in coordination. I also participated with the national campus development teams at both firms to evaluate
and improve the project delivery systems for other Sun campus facilities that LaSalle was involved with.
Urban Office – Predevelopment and Sale. I was recruited by the Chairman of
Union Pacific Realty Group to provide expertise in creating a real estate
development subsidiary to convert surplus railroad land and buildings to
marketable assets. I helped establish best-practice project management
procedures within the new subsidiary.
My specific project responsibilities included managing the planning and
entitlement process for California Capitol Center, a 3-block mixed-use site in
downtown Sacramento, California, which resulted in a profitable land sale.
Suburban Headquarters. As a consultant to the Galbreath
Company (and subsequently a LaSalle Partners employee), I
headed up the project team that won the competition to develop a
new headquarters building for the E-470 Public Highway Authority
in Aurora, Colorado.
I structured an approach that provided the Authority with the
desired flexibility to either lease or own the building and generated
a significant development fee for my client and subsequent
employer.
RETAIL
Specialty Retail – Redevelopment and Disposition Services. At Development Advisors, I was retained by a bank client to
complete a strategic disposition plan for this single-purpose retail property which, at 85,000 SF in size, was the largest, most
costly liquor store building in the US at the time. The potential challenge of marketing this distressed asset was a major
concern for the bank.
The tailored disposition strategy I formulated was based on utilizing the re-tenanting plans as the basis of an investment-
oriented package to market the property. My early involvement pressured the borrower to continue to service the loan until
the loan was successfully sold (together with our re-tenanting plans).
11. DANIEL POREMBA – SELECT PROJECTS PAGE 11
Upscale Infill Retail – Development and Asset Management.
For ServiceStar Development Co., I directed the development
and asset management of upscale “Village Center” retail
centers nationally. This was a joint venture with Shell Oil that
included projects in Denver, Phoenix, Dallas, Chicago, Virginia
and Florida (at left is the Regency Lakes Village Center in Fort
Lauderdale, Florida).
Managing multiple project teams, I oversaw land acquisitions,
entitlements, leasing and management and pad sales. I also
sourced equity and bank construction debt financing. This
experience expanded my capability to simultaneously source
development opportunities and project capital in multiple
markets. Since the entitlements for these infill projects were often intensely contested, I gained extensive experience working
with local municipalities and homeowner groups to negotiate acceptable solutions.
Regional Mall – Redevelopment, Asset Management and
Disposition. This Wells Fargo assignment required my
formulation of a redevelopment plan and proforma for the
Westgate Mall in San Jose, California.
The redevelopment plan and financial analysis facilitated
Wells Fargo’s evaluation of the alternatives and also
facilitated discussions with potential buyers. The plan the
helped expedite the successful asset sale. I utilized this “sell
the dream” strategy on a number of successful sales of
distressed assets for lenders.
Urban Retail – Redevelopment, Asset Management and Disposition. For
this Wells Fargo assignment, I selected and managed a project team to
create a redevelopment plan for 200,000 SF master-leased from the GSA in
the Old Post Office, a landmark building on Pennsylvania Ave. in
Washington, DC. I also directed the leasing and property management.
The planning included discussions with Disney about redeveloping the
building as a hotel, one of my recommendations. The redevelopment plan
ultimately achieved Wells Fargo’s goal of transfering the master lease back
to the GSA. The redevelopment plan maximized the projected value of the
property thereby minimizing the lease termination payment resulting in a
sucessful exit for Wells Fargo. Ironically, the building was just recently
redeveloped as an upscale Trump International Hotel.
MULTI-FAMILY RESIDENTIAL
Urban Loft Redevelopment. An investor client retained me to preliminarily
design and determine the feasibility of developing an urban lofts project
known as “The Lofts on Ogden Garage.”
Located in Denver’s historic Capitol Hill neighborhood, the existing masonry
walls were to serve as the base with 5 floors of loft condos constructed
above. Ultimately, the project proforma did not support the feasibility of
developing the project.
Lessons from this assignment were subsequently applied to other
successful residential assignments, including the Monroe Point project
below.
12. DANIEL POREMBA – SELECT PROJECTS PAGE 12
Infill Luxury Condos. A wealthy family investment firm retained my consulting firm,
Via Development Advisors, to initially determine what should be developed on this
high-profile property located adjacent to the Cherry Creek Mall in Denver, Colorado.
The client’s objective was to generate the highest risk-adjusted investment return
possible. Luxury condos were recommended.
To support the residential opportunity, we successfully expedited the project
entitlements to avoid costly compliance with the City’s then-pending affordable
housing legislation. We also favorably resolved the site issues which had driven the
client’s initial plan to develop office uses. The predevelopment process we
orchestrated gave the client the confidence to ultimately self-develop “Monroe
Point” as a successful project.
ASSET & PORTFOLIO MANAGEMENT
For most of the properties shown in this piece, I was also responsible for all asset management functions. Assembling,
monitoring and directing property management and leasing teams has been a part of my responsibilities on a wide variety of
properties in various lifecycle stages and locations.
My experience with asset management and portfolio management began at Prudential where I was responsible for a
regional portfolio that included 28 separate properties totaling $1B in value, including the five downtown office buildings
shown here, 3 hotels, a 1-million square foot industrial portfolio, regional mall and various development projects.
LAND AND COMMUNITY DEVELOPMENT
Golf and Resort Communities. At Development Advisors, I formed a partnership with
NavPoint Golf Group to provide comprehensive assistance to distressed golf communities.
Distressed golf communities presented the
ultimate turn-around challenge in terms of
communicating with diverse and passionate
stakeholders who needed to achieve some
consensus on the going-forward plans.
The Turtleback Mountain Resort and Sierra del Rio
Golf Course in Southern New Mexico (right) was an
assignment undertaken on behalf of a client that
had invested $27 million in the project. Our role was
to formulate a going-forward business plan as the
basis of an Investment Package that we then used
to market the 1,050-acre community project for sale
(including golf course, upscale clubhouse, 1,600
entitled lots, 130 finished lots and commercial uses).
13. DANIEL POREMBA – SELECT PROJECTS PAGE 13
New Community – Acquisition, Planning and Entitlements. I directed
market expansion for Colorado’s largest privately-held homebuilder and
community developer, Oakwood Homes. In this role, I acquired 2,500+
acres and obtained entitlements for three new master-planned
communities totaling more than 6,500 homes and commercial uses.
At left is the 2,000-acre property which I acquired for $25 million, named
and themed as “Rolling Hills Ranch.”
I obtained zoning and other entitlements for 5,000+ dwelling units plus
governmental approvals for special district debt funding of $225 million.
Prior to the 2008 real estate recession, I negotiated a joint venture with
two potential capital partners and identified other capitalization
strategies which ultimately proved advantageous.
Lot Portfolio – Due Diligence and Investment Packaging. At Development Advisors, we
worked with investment clients for which we periodically sourced acquisition
opportunities.
For the Grosvenor Residential Investment Fund, we sourced and won the right (via a
Receiver bidding process) to purchase a portfolio of 344 finished residential lots formerly
owned by John Lang Homes.
In the residential land arena, our team was able to forge a national collaboration with
Metrostudy, the nation’s top proprietary data base company for the homebuilder
industry, to bring a wider range of services to a wider range of clients, including national
homebuilders and large land investors seeking land acquisitions.
Combining data-based advisory and acquisition work was an effective approach for
Development Advisors to maximize access to a wider variety of potential opportunities
nationally.