Portfolio Buildings
Manning, Estina |Owner and Development Manager.
These residential buildings were part of the Portfolio. Both required repositioning or renovation and were eventually sold in bulk or unit by unit.
Park Wilshire | Owner, Development Manager
Condo building sat for years with rusting steel structure and no construction progress.
In 1988-1989, the building redesign was completed, and the structure was enhanced and post-tensioned. The public space interiors and programming were more like a lobby of an ultra-luxury hotel than a residential experience.
A lingering development logjam was solved by satisfying the workforce housing requirements by using these units as a place to live for professors and coaches being recruited to work at UCLA. This unlocked the value of the Project.
The redeveloped building yielded a sales price twice the existing market per SF and was a very successful Project with much faster absorption than the 2 immediate competitors.
Hilton Anaheim | Owner and Development Manager
This Portfolio Project was on land leased from the City of Anaheim and under construction but had been stalled for several months.
We finished the building, post-tensioned the parking structure, opened the 1,563-key hotel and according to the restructured agreement with the City, ultimately purchased the land from the City as triggered by the LBO.
A DDRM partnership owned the hotel for 23 years and sold it in April of 2007.
Sheraton Park | Owner and Redevelopment Manager
This Portfolio Project was operating as a 400 key hotel next the Hilton Anaheim and was subject to a difficult land lease.
We upgraded the interiors and sold the hotel in 1986 for a substantial profit.
Hilton LAX | Owner and Project Manager
This Portfolio Project was a massive operating 1,300 key hotel and 800,000 SF mixed-use office (mostly empty), retail and airport parking facility and was not fully completed.
A coordinated redesign along some hotel public space upgrades, added parking and a foreign product mart were created and rolled out as cohesive mixed-use Project (“Centroplex”).
The entire project along with the hotel was sold to a syndicator at a substantial profit in 1985.