2008 CPN Goldbook - (Page 23) OWNERS, INVESTORS & DEVELOPERS Opus Group Since its inception 55 years ago, Opus Group has completed development of 2,375 projects totaling 238 million square feet. It has 34 million square feet planned or under development nationwide. Marquee projects include the Birmingham, Ala., U.S. Social Security Administration office, which is seeking LEED silver certification; Hill Country Galleria, a 1.3 millionsquare-foot mixed-use development in Bee Cave, Texas; and Fifteen Twenty-One Second Avenue, a high-rise condominium project in Downtown Seattle. The firm is headquartered in Minneapolis and employs 2,100 people in 28 offices throughout North America. Prudential Real Estate Investors Prudential Real Estate Investors, the real estate investment and advisory business of Prudential Financial Inc., expanded on the success of its industrial investment program in Mexico during 2007, forming a joint venture to invest in industrial property in Brazil. Earlier in the year, Pramerica Real Estate Investors, its Asian arm, which is based in Singapore, expanded its assets in Japan and China. Prudential Real Estate manages CHARLES LOWREY almost $40 billion worth of assets on CEO Prudential Real Estate Investors behalf of more than 400 clients. The company is headquartered in Parsippany, N.J., and local offices support its fund-management operations in Atlanta, Munich, Mexico City, London and Singapore. Panattoni Development Co. During the past five years, Panattoni Development Co. has averaged almost 12 million square feet of development annually, developing and managing industrial, office and retail facilities in more than 150 markets. Significant developments include the new California State Teachers’ Retirement System headquarters in West Sacramento, Calif., a 400,000-square-foot office property that is scheduled for completion in June 2009, and iPort 12, a trade and logistics CARL PANATTONI center in Carteret, N.J., that is scheduled Chairman Panattoni Development Co. for completion by 2010. In January, Panattoni purchased Houston-based development firm Archway Properties L.P. Panattoni is headquartered in Sacramento and maintains 32 offices across the United States, Canada and Europe. The Related Cos. The Related Cos. was formed more than 35 years ago and today offers expertise in development, acquisitions, property management, marketing and sales. In December 2007, it established a joint venture with Tiki Barber’s Tiki Ventures to purchase and renovate affordable housing. The first phase will acquire and refurbish 3,500 residential units for low- to moderate-income families in Virginia and North Carolina. Related is headquartered in New York City and has offices and major developments in Miami, Los Angeles, San Francisco, Chicago and Boston. The company has more than $6 billion worth of green projects under way or completed. The firm developed one of the first green residential buildings in the nation, Tribeca Green, in Manhattan’s Battery Park City in 2005. Passco Cos. Passco Cos., a pioneer in the tenant-in-common/1031-taxexchange industry, offers expertise in income-producing commercial real estate investments and provides such services as property management, brokerage, investment advisory and development. The company completed $140 million worth of TIC investments in 2006 and expects 2007’s figure to have reached $200 million. The company’s assets under management and development encompass more than 10 BILL WINN million square feet, including over 4,700 President Passco Cos. multi-family units. RREEF Alternative Investments RREEF Alternative Investments is the global alternativeinvestment management business of Deutsche Bank AG’s asset-management division. RREEF Alternative Investments consists of four businesses: real estate, infrastructure, private equity and hedge funds. The company is headquartered in New York City and employs more than 1,400 investment professionals in 17 cities around the world to help investors meet CHARLES LEITNER objectives from diversification to preservaGlobal Head RREEF Alternative Investments tion of capital to long-term performance. The company purchased more than $15.5 billion worth of real estate and infrastructure assets during 2007. Principal Real Estate Investors Principal Real Estate Investors’ transaction volume topped $13 billion during 2007, including $8.2 billion in commercial mortgage loan originations and $5.2 billion in real estate equity deals. The company manages $43 billion worth of real estate assets and securitized $14.5 billion worth of CMBS between 2001 and the third quarter of 2007. It also manages The Principal U.S. Property Account, an open-ended, comPAT HALTER mingled real estate fund open to both CEO Principal Real Estate Investors defined-benefit and defined-contribution plans. The account owns $8 billion worth of properties, representing 152 assets in 47 markets. 2008 Goldbook Shorenstein Properties L.L.C. San Francisco-based Shorenstein Properties L.L.C. is active throughout the United States in the acquisition, development, ownership and management of office and mixed-use properties. Since 1992, it has sponsored nine closed-end commingled funds that have invested in properties totaling almost 40 million square feet. Its ninth fund closed in April 2007 with $1.3 billion in total committed equity, including $100 million invested by Shorenstein DOUGLAS SHORENSTEIN Chairman & CEO Properties. Today, the company owns and Shorenstein Properties L.L.C. manages more than 26 million square feet worth $9 billion. Commercial Property News 23
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