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Madison Marquette Acquires 380-Unit Apartment Community in Wilmington, N.C.

Wilmington, N.C. – May 31, 2022 – Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today announced the recent closing of Crosswinds a 380-unit apartment community in Wilmington, N.C. as part of its Evergreen Multifamily Value Add Fund (the “Fund”).

Built in 1989, Crosswinds is centrally located within the Silver Lake neighborhood of Wilmington, N.C. With the property’s convenient and quiet location between the four major transportation arteries of Wilmington, residents have easy access to all of Wilmington’s employment hubs and lifestyle amenities including Wrightsville Beach and downtown Wilmington.

“We are extremely pleased to add Crosswinds to our multifamily portfolio and to extend our presence in the Carolina’s,” said Kevin Galligan, Managing Director, Housing Investments, Madison Marquette. “It’s location in the rapidly expanding Wilmington submarket will provide our residents with unparalleled access to many of Wilmington’s superb lifestyle amenities while presenting a clear value-add proposition through targeted unit renovations.”

The property consists of 19 buildings across approximately 23 acres creating a low-density of only 16.5 units per acre which allows for significant green space as well as spacious one-two- and three-bedroom units ranging from 645-to-1,306 square feet. Community amenities include a saltwater resort-style pool with a sundeck, grilling and picnic areas, lighted tennis, and volleyball courts along with fitness and business centers. The apartments themselves feature wood-style flooring, patio/balconies in each unit, wood-burning fireplaces, and full-size washer/dryer connections in most unit types.

“The Wilmington growth story is extremely compelling from for multifamily investment,” said Nigel Keenan, Principal, Housing Investments of Madison Marquette. “We believe our targeted renovation program will provide residents with high-quality housing and amenities while providing great work-life balance due to the close proximity to various amenities while achieving our Fund’s goals of buying differentiated real estate in compelling growth markets.”

The Fund plans to complete strategic unit upgrades that will provide higher quality hardware and finishes including appliances, flooring, and counter tops. It will also improve the community’s amenities, perform exterior aesthetic work and landscaping.

Wilmington has benefited from the population movement during the pandemic with the population in the surrounding 1-mile area increasing by 24% from 2010 to 2021 and projected to increase at a similar 10% growth rate over the next five years. The property is ideally located for residents who work at UNC Wilmington and New Hanover Regional Medical Center, as well as those employed by manufacturing and transportation companies such as General Electric Aviation and the Port of Wilmington.

In addition to North Carolina, Madison Marquette’s Evergreen Fund is targeting select U.S. growth markets that have favorable demographic and demand drivers including the Sunbelt, mid-Atlantic and northeast regions.

To date, the Madison Marquette Evergreen Series of Funds have transacted on approaching $1B in multifamily assets on over 5,000 units across the country. The Evergreen multifamily transactions are in addition to the acquisitions recently completed by Madison Highland Live/Work Lofts, a strategic investment and development platform to grow the next generation of live/work loft communities in key urban markets across the United States.

 

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

 

Media Contact:

David Ebeling

[email protected]

949.861.8351

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Madison Highland Live/Work Lofts Announces Plans to Develop Next Generation Live/Work Lofts in Key Metro U.S. Markets

DC area real estate leaders join forces to form a strategic investment and development initiative to transform underperforming office buildings to live/work lofts

Washington, DC — April 7, 2022 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, and Highland Square Holdings, the leading developer of live/work properties in the Washington, DC area, today announced the formation of Madison Highland Live/Work Lofts, a strategic investment and development platform to grow the next generation of live/work loft communities in key urban markets across the United States.

“Our strategy is to provide best in class loft style apartment homes by creating additional office and live/work functionality that enables the customer to decide how best to use the units,” said Madison Marquette Chairman, Amer Hammour. “The change to hybrid work environments, buoyed by technological advances, has altered retail and then office products. To retain and grow value in office buildings, we believe that physical space must provide consumers with the same flexibility, utility and value as cyberspace.”

“Having flexible space that can serve more people in more ways is smart business. By expanding loft uses, we increase the number of people we can serve. The net result is a resilient resource that maximizes market demand and stabilizes revenue across changing markets, at all times,” said Madison Marquette Chief Executive Officer, Vincent Costantini.

Madison Highland Live/Work Lofts creates an entity with a full range of expertise, resources and proven results.

“It was a natural fit to combine our strategic vision, development and construction expertise with Madison’s broad market reach, financial capacity, operations and placemaking DNA,” said Madison Highland Live/Work Lofts Managing Principal, Robert Seldin, who has been at the forefront of this unique strategy. “Working with the Madison Marquette team, we believe the Live/Work strategy and platform will grow more rapidly, and in exciting ways, to better serve consumers and communities.”

In addition to the DC area, Madison Highland Live/Work Lofts is targeting select U.S. markets that have seen high knowledge and information-based job growth drive increases in housing costs. The platform’s initial focus will be in select markets in California, the Southeastern U.S., as well as in New York, Boston, Seattle, Austin, Dallas, Denver, and Salt Lake City.

Seldin said the Live/Work Loft strategy targets prospective residents, small businesses, and the growing market of remote and hybrid workers who are actively seeking better and more flexible housing and office options. The demand is fueled by several factors. The remote work population in the U.S. has soared from eight million in 2017 to 58 million today. He said that traditional apartment competitors are not well suited to accommodate this change.

“There are an additional 85 million U.S. households composed of singles and couples to offer greater value and sense of community as well as the 75% of U.S. businesses with fewer than ten employees for whom the rigidity and cost associated with traditional office leasing is sub optimal,” Seldin added.

Madison Highland Live/Work Lofts recently purchased and is seeking entitlements for two additional vacant Class A- office buildings, Skyline 4 and 5, to convert to Live/Work lofts. At 572,000-square-feet, Skyline 4 and 5 are part of the Skyline Center, the largest contiguous, mixed-use development in the DC area.

Seldin led the successful Mission Lofts project in Falls Church, VA, which is an example of how a property can be transformed to meet changing market conditions. The 173,000 square foot office building was vacant for seven years and had seen its value plummet from $51 million to below $20 million. Three years later, as a now stabilized community of 156 Live/Work Loft style units, its value has risen to a level higher than its former high-water mark as an office only asset. Additionally, it was recently named the Best DC MSA Adaptive Reuse Apartment Community by Delta Associates.

“Mission Lofts was a vacant commercial office building with tall ceilings, big windows, an open floor plan, and ample parking that had outlived its use as a single purpose office structure. From its location at the intersection of two main roads, three miles from the Pentagon, it was a perfect fit for our live/work strategy,” said Seldin. “We gained approval to allow for live/work use in less time than most traditional ground-up zoning actions. At the same time, we helped to establish a new asset category in Fairfax County, VA, which has the second highest median household income county in the United States.”

 

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family.

Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

 

Media Contact:

Peter Bartelme

[email protected]

415.664.1503

Madison Marquette Releases Inaugural 2021 Holiday Trends Report: Opportunities & Headwinds

Consumer and Retailer Trends Support a Robust Outlook for the Holiday Shopping Season

Washington, DC, November 10, 2021 – Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, today released its inaugural 2021 Holiday Trends Report: Opportunities & Headwinds, which anticipates record-setting consumer spending, a return to in-store shopping, and retailers scrambling to meet demand.

Madison Marquette’s report combines a range of 2021 forecasts and its own trends analysis to provide an inclusive outlook for the upcoming holiday season. The report highlighted that sales growth of 13% could exceed 1999 levels and how retailers are blurring the lines between digital and in-store shopping to maximize sales.

“Consumer spending momentum and their thirst to celebrate after last year’s lockdowns and missed milestones are driving a bullish retail sales outlook,” said Meghann Martindale, Madison Marquette’s Head of Retail Research.

Martindale also warned of wildcards that could cloud the holiday season outlook. “While retailers’ investments to overcome supply chain threats are likely to increase product prices and could impact overall sales, the 2021 holiday season will be remembered as a return to in-store shopping enhanced by digital discovery and purchasing,” Martindale said.

View the Full Report. Key trends identified in Madison Marquette’s analysis include:

Robust Retail Sales Outlook
According to a variety of forecasts, holiday retail sales are expected to grow 7% to 13%, the latter of which would make this holiday season the strongest since 1999. Consumer spending is expected to shift from last year’s homebody lifestyle purchases of athleisure wear, kitchen, home accessories, and electronics to more discretionary and impulse purchases on apparel, jewelry, handbags, accessories, and luxury items.

Supply Chain Threats to Sales Growth
High consumer demand is fueling an optimistic outlook for the holiday season, but several wildcards threaten retail sales, including persistent supply chain challenges, lack of products, and delivery delays. Challenges have forced retailers to enhance stopgap manufacturing, inventory, and distribution measures to meet consumer demand. However, retailers are hitting sales targets by drastically increasing spending on suppliers, logistics, freight, and labor costs. Retailers are trying to absorb most of the burden, but consumers should expect upward pressure on prices. Product shortages include chips for electronics toys, cotton for apparel, food and household staples, even Christmas trees, and décor. Gift cards and spending on experiences could grow more than expected with limited product availability.

Shopping Early & In-store
Consumers are shopping early to buy products amid uncertain supplies while returning to the in-store experience after an accelerated digital migration during the pandemic. According to Placer.ai, foot traffic at the top 100 U.S. malls and at most of Madison Marquette’s properties were back to 2019 levels by August. Consumers must prepare to pay higher prices, have multiple alternate gift ideas, and anticipate longer delivery windows. To retain customers, retailers will need to prepare their employees to help frustrated customers find what they want. Already, retailers are warning consumers early about the lack of product, earlier ship dates and suggesting substitutions for original gift ideas if they are sold out or unable to fulfill in time.

Digital Discovery: The Hybrid Reality
Digital discovery is key to captivating consumers on the path to purchase across all channels. The in-store experience is now more digitally engaging, while online and mobile shopping has evolved into a more immersive experience that mimics the physical store as much as possible. For the first time, Target kicked off Deal Days in October with offerings online, through the Target App, and at all Target stores, allowing shoppers to save across all channels. Social commerce is also one of the fastest-growing segments of retail. Consumers also are embracing live-streamed fashion shows, using artificial and virtual reality apps to try on cosmetics, apparel and accessories, and using personalized digital stylists for gifting this year.

 

 

About Madison Marquette
Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies.

Media Contact: Peter Bartelme, [email protected], 415-664-1503

Madison Marquette Expands Senior Living Platform with Development in Punta Gorda, Florida

(As appears on PR Newswire)

PUNTA GORDA, Fla., Aug. 16, 2021 — Madison Marquette, a national private fully-integrated real estate services provider, investment manager, developer and operator, today announced the closing of a major construction loan and the start of the development in partnership with Saudi based Arbah Capital on a 135-bed senior living facility located in Punta Gorda Isles, Florida. This transaction marks the continued leadership of Madison Marquette in the senior living space – with the company recently having also developed with Arbah Capital a 117,000 square foot, 144 bed community in Brandon, in the Tampa market and invested in additional projects across the country. Madison Marquette partnered with Arbah Capital and Meridian Senior Living to secure the equity capital for the two Florida projects.

Mr. Mahmood Al-Kooheji, CEO of Arbah Capital, said “In these very unfortunate times, we still need to build for the future and provide facilities which truly take care of our elderly, which is an ever-growing need. This crisis has shown the even greater need for services to be provided with the greatest professionalism and care, and we are very pleased to partner with Madison Marquette as our developer, and Meridian Senior Living, our operator, whose facilities have been exemplary in the way they have coped in these difficult times. We are very pleased to have achieved financial close on the Punta Gorda property and look forward to developing the pipeline further.”

Madison Marquette is adding the Punta Gorda facility to its senior living portfolio – which includes six communities in California, Washington and Michigan and additional senior living properties in Florida and Texas.

“We believe that senior living needs will be an integral part of the nation’s healthcare delivery system going forward,” said Amer Hammour, Chairman of Madison Marquette. “As such, providing quality housing and service is a growing area of focus for our company and an important step towards building value-based care and value-based investment for our stakeholders. We are appreciative to Arbah Capital for their confidence in us and are pleased with their valuable partnership in Punta Gorda. We look forward to working on several other investments with them. We are also pleased to have Meridian as an Operating partner for the property when it is completed. Arbah and Meridian are globally known for their capabilities in strong investment, financial and operations leadership and will assure success for this property,” Mr. Hammour added.

The $37 Million Punta Gorda development is slated for completion/resident move-ins beginning in early Q1 2023 and will be operated by Meridian Senior Living, a premier operator currently managing over 75 communities with 7,000 residents across the country. The Class A, 116,000 square foot facility will be located on 4.4 acres on Aqui Esta Drive, about 10 minutes from the Tamiami Trail, in Punta Gorda. This development is optimally situated approximately 50 miles southeast of Sarasota and 25 miles north of Fort Myers. Banesco USA procured the necessary project debt. Diaz Fritz Group out of Tampa, Florida is the project’s seasoned general contractor and St. Louis, Missouri’s CASCO+R|5 is the architect.

Madison Marquette’s healthcare services group, headed by Glen Perkins, has successfully executed the development of more than 60 healthcare facilities in recent years. These facilities join the Madison Marquette family of premier, state-of-the-art developments in retail, multifamily, office, hospitality and mixed-use properties across the United States.

 

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6.2 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multifamily. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 12 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit madisonmarquette.com.

 

About Arbah Capital

Arbah Capital is the First Islamic Boutique Investment firm in Eastern Region of Kingdom of Saudi Arabia, and thus embarked on an ambitious and visionary mission to provide investment solutions to their valued investors. Arbah aims to protect and enhance their investors’ best financial interests while managing goals which are compatible with their profile and intended financial ambitions. For more information on Arbah Capital, go to arbahcapital.com.

 

About Meridian Senior Living

Meridian Senior Living, LLC, a privately held company based in Bethesda, MD, owns and operates senior living communities across the United States. With more than 70 communities in 21 states and more in development, Meridian one of the top 20 largest seniors housing operators in the U.S. The company prides itself on providing the highest quality care and an active lifestyle to their residents. For more information on Meridian Senior Living, visit meridiansenior.com.

 

Media Contact: David Ebeling, 949-861-8351, [email protected]

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Madison Marquette Opens The Travis in Houston

The 30-story Luxury Apartment Building Begins Welcoming Residents

HOUSTON, TX — July 8, 2020 — Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator, announced today the opening of the Travis in the Midtown neighborhood of downtown Houston. The Travis is a 375,775 sq. ft. 30- story luxury apartment building featuring one, two and three bedroom apartments and two story penthouses. The apartments sit atop 14,000 Sq. ft. of luxury retail including a restaurant scheduled to open Q1-2021.

Interior features of the Travis apartments include floor-to-ceiling windows in every unit, separate shower and soaking tubs, vanities with custom dressers and walk-in closets, hardwood floors, 10-12 ft. ceilings, and quartz and granite fixtures throughout. The building’s community amenities include an aqua lounge with conference room, heated salt water pool, private cabanas with Bluetooth, fire pits, a grand lawn and 24-hour fitness center. The lobby combines a conference center and 24-hour coffee bar with concierge services, bike storage, package locker service, and on-site valet dry cleaning. A seven-story parking garage with reserved parking is also available for residents.

“We are delighted to introduce The Travis to the Midtown neighborhood of Houston,” said Madison Marquette Principal Rick Kirk. “Our new residences offer Houstonians a best-in-class combination of luxury amenities and design excellence while offering convenient access to local public transit.”

Located in the Midtown neighborhood of downtown Houston, near the six-acre Midtown Park, the Travis features Metro-Rail access with a five minute Northbound access to Downtown and a 10 minute Southbound access to the Texas Medical Center.

For additional information on The Travis, or to schedule a tour, visit www.thetravishouston.com.

About Madison Marquette

Madison Marquette is a leading private full-service real estate provider, investment manager, developer and operator headquartered in Washington, D.C. The company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has a strategic bench of professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit www.madisonmarquette.com.

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Experts Across Property Sectors Share Best Practices on Coronavirus Safety (WEBINAR)

Within a matter of weeks, the novel coronavirus disease 2019 (COVID-19) has gone from being a public health concern in China to becoming one across the globe, including the United States. Spreading at least as rapidly as COVID-19 itself have been fear and misinformation.

With a view toward promoting the exchange of reliable information along with best practices, Connect Commercial Real Estate on Tuesday gathered experts representing each of the major property types for a 40-minute webinar on the impact of COVID-19.
Their focus: the measures each is taking to promote a safer environment within their properties, for tenants and visitors alike. Daniel Ceniceros, CEO of Connect Commercial Real Estate, moderated the discussion.

The panelists included:

  • Julianne B. Goodfellow, senior director, government affairs, National Multifamily Housing Council
  • Mark Duclos, president & co-founder, Sentry Commercial & SIOR President
  • Kiersten H. Pearce, VP, member engagement & services, American Hotel & Lodging Association
  • Anjee Solanki, national director retail services | USA, Colliers International
  • Drew Genova, chief asset services officer, Madison Marquette
  • Michael Oddo, founder & president, Metro Services Group
  • Laura Boyd, property risk program manager, Pinnacle
  • Jeff Herrera, senior general manager, Rising Realty Partners

Although common sense plays a major part in the COVID-19 strategies across these property types—for example, encouraging people to wash their hands regularly—there are also considerations unique to each sector.

A retail environment, for example, may see hundreds of shoppers coming and going on a daily basis, while multifamily properties offer community spaces such as gyms and saunas. Panelists addressed these considerations in the course of the conversation.

Also on the agenda was the business impact of COVID-19, which, of course, is evolving and varies from one sector to another. Connect Commercial Real Estate plans to reconvene the panelists in a few weeks for an update.

Meanwhile, the webinar is available for replay in the recording below.

Developer Behind DC’s $2.5 Billion Wharf Aims to Build Something Bigger

Amer Hammour Talks About His Plans to Grow Madison Marquette

Madison Marquette acquires 135,000 square feet of office in Miami, FL

MIAMI, FL, January 21, 2020 – Madison Marquette, a leading private full-service real estate provider, investment manager, developer and operator has acquired two office buildings in Miami, FL on behalf of a discretionary institutional commercial real estate fund (the “Fund”) from a seasoned Spanish investor, represented in the United States by EXAN Capital. The buildings, Bayview Executive Plaza located at 3225 Aviation Avenue, and Continental Plaza located at 3250 Mary Street, herein referred to as the “Coconut Grove Portfolio”, represent over 135,000 square feet of premium office space in the supply-constrained Coconut Grove submarket. This is the first acquisition in Miami for the Fund, which was formed in 2012 to acquire and reposition office properties throughout the United States.

3225 Aviation Avenue. Source: Costar.

3250 Mary Street. Source: Costar.

Axiom Capital Advisors’ Founder Roberto Susi and Principal Jose Sasson represented Madison Marquette in the off-market transaction. Susi and Sasson said the deal was largely driven by the healthy office dynamics in Miami, which is seeing positive net absorption, falling vacancy rates and corresponding increases in rental rates. The sale of the assets on behalf of the Spanish investor was accomplished in connection with a global strategy of disposing office assets in order to expand said investor’s industrial portfolio. The two buildings were a combined 90% leased at the time of sale.

Madison Marquette will provide investmers’ Founder Robent, asset and project management services to complete an enhanced repositioning of both office properties. Madison has also retained Exan Management Services, LLC, to oversee the daily property management of the buildings, and Jones Lang LaSalle as leasing agents for the building.

The combination of modernized amenities and historic charm of the properties, speculative suite leasing, walkable retail amenities and executive and workforce housing gives the properties a competitive advantage in the greater Miami market.

Strategic initiatives include upgrading interior and exterior common areas at both properties, incorporating a speculative suite program for the remaining vacancy, and adding a management and conference facility to Continental Plaza.

“The acquisition of the Coconut Grove Portfolio presents Madison Marquette with a unique opportunity to own and operate two quality office buildings with significant upside potential in a market with single digit vacancy,” said Mike Falvey, Director at Madison Marquette. “The influx of capital and development of both residential and retail in Coconut Grove was a large factor in Madison trying to acquire these boutique office assets. That said, the off-market nature of this acquisition was only made possible by the tireless effort of Axiom Capital Advisors and the EXAN Capital team, and we look forward to working with both groups in the New Year.”

 

ABOUT MADISON MARQUETTE

Madison Marquette is a leading private real estate investment manager, service provider, developer and operator headquartered in Washington, D.C. As a full-service real estate provider, the company delivers integrated investment, development, leasing and management services to a diverse portfolio of 330 assets in 20 states and manages an investment portfolio valued at over $6 billion. The company partners with global, institutional and private investors to provide industry-leading investment and advisory services across asset classes — including mixed-use, retail, office, medical, industrial, senior living and multi-family. Following its 2019 merger with the Boston-based Roseview Group, Madison Marquette added capital markets, investment banking and corporate advisory services to its integrated capabilities. Founded in 1992, the company built its reputation on the successful development, repositioning and redevelopment of landmark mixed-use assets, and now leverages that performance legacy to provide clients with exceptional asset services and investment advice. Madison Marquette has over 620 professionals providing nationwide service from 14 regional markets and is a member of the Capital Guidance group of companies. For additional information, visit www.madisonmarquette.com.

ABOUT EXAN CAPITAL

EXAN Capital is a Real Estate Investment Firm with an exclusive focus on commercial properties. Its multiple capital sources stem from private and institutional relations throughout Latin America and Europe. Since 2014 EXAN has invested over $2.4 billion, through different capital sources, in New York, Florida, Texas, Massachusetts, Illinois, Washington D.C, and Virginia. Furthermore, EXAN currently has $1.7 billion in Assets under Management (AUM) with over 3.9 million square feet of net rentable area. For additional information, visit www.exancapital.com

ABOUT AXIOM CAPITAL ADVISORS

Axiom Capital Advisors is a full service commercial real estate brokerage firm providing advisory services such as landlord and tenant representation as well as acquisition and consulting services. The focus of the firm is centered on maximizing the value of a real estate asset.  Whether serving in the capacity of broker, advisor, manager, owner or developer, the firm’s over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of the firm’s clients and projects. Axiom has carved a niche in creating “off-market” opportunities which have proven invaluable in multiple real estate cycles.

 

CONTACT:  Whitney Williams
Madison Marquette
713.209.5935
[email protected]

Luminary at One Light cited among Baltimore’s luxury living residences

Year in Review 2019: Luxury apartment expansion keeps rolling on

Baltimore’s luxury residential boom continued last year as large, multi-family projects continued to open up downtown.

Photo: Carley Milligan

Nearly 800 new units started leasing this year in high-profile, luxury developments at The Luminary at One Light, Liberty Harbor East and Bainbridge Federal Hill in Locust Point. Eleven luxury penthouse apartments opened in the spring at 414 Light St., months after 383 apartment units there opened for leasing.

The units lease at rates between $1,200 a month for a one-bedroom to over $8,000 a month for a penthouse.

[Read more.]

DC Waterfront Development Selects Contractor for Final Phase

By Ingrid Tunberg | November 26, 2019 at 12:23 PM (as appearing in GlobeSt.com)

DPR Construction has been retained as the final contractor for Phase Two of the development. The firm will construct three buildings for the project.

Rendering of Water Building 1 at The Wharf

WASHINGTON DC – Hoffman & Associates and Madison Marquette‘s joint-venture partnership, Hoffman-Madison Waterfront has selected a contractor for its co-development, The Wharf. DPR Construction will serve as the fourth and final contractor for Phase Two of the waterfront development in Washington DC.

DPR Construction will partner with The Wharf’s development team to offer sustainable solutions toward any technical challenges, created by the site’s landside and waterside.

In the newly-appointed role, DPR Construction will contract two retail buildings, Water Building 1 and Water Building 2, and a trophy-class, boutique office building, Parcel 10.

Water Buildings 1 and 2 will comprise 34,000 square feet, situated on top of newly built concrete piers along the Washington Channel. Water Building 1 will encompass a two-story, fine dining, single-tenant building, featuring an outdoor rooftop terrace, designed by architecture firm Hollwich Kushner. Water Building 2, designed by architecture firm S9, will host maritime and retail services on the ground floor and a restaurant/bar on the second floor.

Parcel 10 will encompass 88,000 square feet as a five-story, trophy office building. Designed by Morris Adjmi Architects to achieve LEED Gold certification, the building that will offer ground floor retail, as well as expansive terraces and outdoor space.

The selection of DPR Construction as contractor marks a milestone for the project; concluding Hoffman-Madison Waterfront’s procurement efforts for Phase Two.

The second phase of the development engaged a lineup of 13 architects and designers from around the world. The DPR Construction will join Balfour Beatty, Cianbro and Donohoe Construction in development efforts for the project.

Balfour Beatty’s work in Phase Two of the development consists of contracting all horizontal and public spaces, below-grade parking garages and office buildings in Parcels 6 and 7. Donohoe Construction’s role for the project comprises work contracts for Parcels 8 and 9, including a 255-unit residential apartment building, a 96-unit luxury condominium and the 131-room hotel, Pendry Washington DC.

Rendering of Water Building 2 at the Wharf

At full build-out, Phase Two of The Wharf will feature an additional 1.25 million square feet of mixed-use development space, including office, residential, marina, retail and public spaces, across a half-mile of redeveloped waterfront space. The second phase of the project broke ground in early 2019 and is scheduled to deliver in 2022.

Phase One of the waterfront neighborhood opened in 2017 featuring more than two million square feet of residences, offices, hotels, shops, restaurants, marinas and public areas.

Upon the project’s completion, the $2.5 billion mixed-use waterfront neighborhood will feature more than 3.2 square feet of development along a mile of the Washington Channel of the Potomac River.

As the largest planned unit development in the city’s history, The Wharf previously secured an $847 million loan from Goldman Sachs in September, for Phase Two of the development. The joint-venture partners additionally announced an $800 million refinance loan for Phase One of the project, back in June.

DPR Construction is a national commercial contractor and construction manager that focuses on sustainable, large-scale transformation projects. Founded the 1990, the technical builder is a privately-held company, operating from offices throughout the nation.

 

 

 

 

 

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