Innovative Retail Development Firm, DJM Capital Partners, Takes the Helm to Thoughtfully, Tastefully Create a Special Place for Newport Beach Locals and Visitors Alike

NEWPORT BEACH, Calif. (January 23, 2014) – DJM Capital Partners, a private equity investment, development and asset management firm specializing in the retail sector, today announced that it will begin work to restore Lido Marina Village in Newport Beach, starting in February 2014. The San Jose, Santa Barbara, and Orange County-based firm, known for its successful reinvigoration of the Bella Terra retail and residential center in Huntington Beach, will redevelop the Newport Beach landmark so that it once again becomes a highly appealing shopping, dining, and marina destination for locals and visitors alike.

“We acquired Lido Marina Village in 2012 with the goal of bringing it back it to its original charm and vibrancy,” says DJM Capital Partners President Lindsay Parton. “Although the project had, in the hands of previous ownership, been allowed to languish, our firm saw the potential to revitalize Lido Marina Village, making it a special place that captures the casual, sophisticated charm that Newport Beach has always offered.”

First developed in 1971, Lido Marina Village was originally conceived as a small and inviting pedestrian-friendly village for shopping, dining, and marina activities in the heart of world-renowned resort city of Newport Beach. Capitalizing on Lido Marina Village’s idyllic coastal location on Newport, DJM Capital Partners is carefully and respectfully restoring the area to bring out much of its original personality and charm.

“Our Lido Marina Village Team has spent more than a year in the area, immersing ourselves in the history and community, to ensure that we offer local residents and visitors something that caters specifically to their tastes and desires,” says Parton. “To create this environment, we will make subtle yet important changes to upgrade the buildings, interior streets, storefronts, hardscape, landscaping and lighting. We also will be upgrading the docks and decks on the marina side, to take advantage of the project’s amazing location on the water and to restore the entire Village to the quality it deserves.”

The first phase of work at Lido Marina Village is set to begin in January 2014 and is anticipated to be complete in early 2015. At that time, the newly re-imagined Lido Marina Village will be unveiled, featuring a hand-selected, modern mix of casual-luxe eateries, boutiques, and shops not currently over-exposed in Orange County. The upgrading of the project’s marina will comprise the second phase of the plan, and is anticipated to be complete by July 2016. This will set the stage for waterside restaurants, shops and leisure experiences to take advantage of the magnificent waterside docks, decks and views.

“The re-imagining of Lido Marina Village is already generating a lot of excitement in the retail and food communities,” said Heather Hollister, DJM Capital Partners Senior Vice President of Leasing. “Our highly selective and strategic leasing plan for Lido Marina Village will ensure that we curate an upscale mix of offerings that are modern, fresh, and also fun. Visitors to Lido Marina Village can expect a collection of restaurants, cafes and artisan food purveyors, as well as shops featuring fashion, home décor, gifts, books, and much more.”

For more information on Lido Marina Village, please visit www.djmcapital.com.

 

About DJM Capital Partners

DJM Capital Partners, Inc. provides private equity investment, development and asset management services within the real estate sector. With a core strength in retail combined with expertise in office, industrial and residential product types, DJM’s superior market knowledge and strategic acquisition of undervalued assets is represented by a current portfolio of more than two million square feet. Additionally, a forward-looking development slate represents another 310,000 square feet with an estimated total portfolio asset value of $1 billion.

Finding creative solutions to complex situations involving underperforming or improperly capitalized assets, DJM creates incremental value through skilled repositioning, architectural enhancement, savvy leasing and keen operational know-how.www.djmcapital.com.


DJM Capital Partners’ Retail Development in Huntington Beach

The Beach Trailer

Sitting on approximately 11 acres of prime beachfront property in Huntington Beach, Calif., DJM Capital Partners’ planned Pacific City mixed-use development embodies the essence of the comfortable, casual lifestyle that is a hallmark of this iconic beach community. To convey its vision for Pacific City to potential tenants, DJM has taken an unconventional approach to marketing and leasing by creating a Beach Bungalow on the undeveloped site.

“When people visit the site they understand the rare development opportunity it presents. Taking that one step further, we decided our leasing space needed to reflect our intended design aesthetic for this property”, says Lindsay Parton, President. “We came up with the idea of transforming a construction trailer into the quintessential Beach Bungalow and engaged Steven Jones to make it a reality. He took a drab trailer and made it a showcase for the type of ambience and ‘vibe’ we plan for Pacific City.”

Jones, a sought-after designer known for his creative reinvention of residential properties and his retail environments and visuals for iconic surf brand Quicksilver, created a cozy retro beach style for the Pacific City leasing bungalow. A large ocean-facing wrap-around deck provides intimate seating areas for casual conversation and an outdoor dining area ideal for larger meetings. Abundant windows and glass doors bring the outside in, capturing the great views and balmy breezes of the Pacific. The bungalow has a great room with a large seating area and open kitchen with white board and batten walls and seagrass covered floors, a separate meeting room and a working office. Jones’ process in creating the leasing bungalow was the same used in designing a private residence. Every piece of furniture, fabric and item of vintage décor was carefully selected to embody the experience and design sensibility that DJM intends to bring to Pacific City. Surfboards and guitars sit casually in corners while flea market treasures coexist with sophisticated accents and carefully chosen furnishings. “The total effect is comfortable and cool”, states Jones, “nothing too studied or overwrought. This is definitely not themed – it’s just the beach house everyone wishes they had!”

“Visitors come to the property intending to have a standard 45 minute leasing meeting and they stay for hours. Once they experience the bungalow they immediately understand our vision for Pacific City,” notes Parton. “This was an experiment that has more than paid for itself and has forever changed the way we approach leasing. We take prospective tenants for a bike ride around the property, sit out on the deck and enjoy the view, eat fish tacos and eventually role out the Pacific City site plan and leasing brochure, which feels more like an oversized surf and design magazine than a real estate pitch for a mall. The surprise factor alone is powerful and persuasive.”

Pacific City will comprise 191,000 square feet of open-air retail and restaurants in multiple two-story buildings set around a meandering central plaza with an adjacent 250 room boutique hotel and 516 upscale apartment homes. DJM is also developing a unique California artisan and crafter culinary experience and market within the project. LOT 579, named for the lifeguard towers 5, 7 and 9 outside its doors, will feature specialty food purveyors preparing their fresh offerings demonstration style. Pacific City will feature a coastal California beach design aesthetic, indigenous landscaping and use of natural materials and colors that reflect and complement the beach environment surrounding it.

DJM has engaged the Jerde Partnership as design architect, Lifescapes International as the landscape architect and SMS as the executive architect. The design team has been challenged with taking advantage of the breathtaking views at Pacific City’s doorstep and the unique birthright the authentic surf culture provides as inspiration. Construction is expected to begin in the last quarter of 2013.

 

About DJM Capital Partners, Inc.

Founded in 1992 by D. John Miller, DJM Capital Partners, Inc. is a leading private equity real estate investment group that focuses on enhancing and increasing value on undercapitalized and underperforming real estate assets. Providing its own development, rebranding, leasing, and asset management services, the company’s expertise spans various product types. DJM’s West Coast portfolio is valued in excess of $1 Billion. Known for its aggressive growth strategy and opportunistic, entrepreneurial investment approach, DJM specializes in identifying commercial properties throughout California and deploying its skilled team to create value and provide attractive returns for investors and partners. Additional information is available at www.djmcapital.com.

 

Contact:
Linda Berman
DJM Capital Partners
626-395-7545


Re-development and Re-vitalization of iconic retail village and marina planned by DJM.

DJM Capital Partners, Inc. announced its recent acquisition of the approximately 123,000 square foot waterfront retail center, Lido Marina Village, from Vornado Realty Trust in an off-market transaction. Concurrently, DJM also acquired the fee interest in one of the ground leases that the property sits on. DJM will embark on a strategically planned re-vitalization effort for the entire property, including the 50-boat slip marina. Efforts to attract a dynamic and upscale mix of new retail and restaurant tenants is already underway on the more than half-vacant property, DJM’s latest addition to its growing portfolio of well-located California retail centers.

Vornado Realty Trust, one of the largest owners and managers of commercial real estate with a portfolio of over 100 million square feet primarily located in the New York and Washington DC areas, initially acquired the property with a JV partner in hopes of creating a whole new project. When the JV partner defaulted on the loan while managing the property and let it languish, Vornado bought them out. However, with Vornado’s recent decision to divest themselves of non-conforming portfolio assets, DJM saw an opportunity to strike an off-market deal and bring their strong expertise in retail re-development and enhancement into play.

“This is right in our sweet spot,” noted Lindsay Parton, President of DJM Capital Partners. “We look for opportunities in great coastal communities with strong demographics, and this property couldn’t offer better surrounding geography or customer profiles. The local community has wanted this property upgraded for years, and our intention is to make it the re-imagined jewel the locals have desired for a long time. If we listen to the locals and get it right in the ambience and tenant mix, this can become one of the most successful properties in our portfolio.”

Embarking on an imaginative and market-sensitive design and leasing effort, DJM is hiring a dynamic team of creatives across various disciplines to re-imagine and re-interpret Lido Marina Village in a “smaller is better”, high-touch way that will feel crafted and curated rather than designed and developed in the way a larger, more conventional shopping center might be undertaken. “This will be a sophisticated, fashionable yet family-friendly and casual place,” says Parton. “We are being very careful about the leasing at Lido – Orange County already has lots of great retail and we are committed to bringing something very new to this project.  We’re thinking ‘place’ rather than ‘project’, with every small detail being critical.  Creatively, it’s one of the more exciting opportunities we’ve undertaken at DJM, and our team’s level of excitement is off the charts. We’re grateful our initial leasing efforts are showing us the retail and restaurant communities feel the same way!”

“We’re thinking ‘laid-back luxe’ for the DNA of our tenant mix at Lido”, adds Heather Hollister, Sr. VP of Leasing for DJM. “With incomes and demographics like this, not only can we attract the finest merchants and restaurateurs out there, it’s imperative that we do so.  We’re not looking for tenants who are over-exposed in the market, we are looking for a truly upscale and eclectic group of boutiques and eateries that will make this place a magnet and special destination not offered in Orange County currently.”

DJM’s approach is to create approximately 120,000 square feet of boutique retail, waterfront dining and creative office space, set in a pedestrian-friendly village setting. With the 50 boat-slip marina at the core of the property, the docks and decks allow an opportunity to upgrade the entire village and marina to attract upscale stores and restaurants to occupy desirable, waterside space.

Lido Island is home to almost 2,000 residences with home prices from $1.5 to $15 million, and the local area boasts some of the highest incomes and most picturesque ocean and bay front property in Southern California.

 

About DJM Capital Partners, Inc.

Founded in 1992 by D. John Miller, DJM Capital Partners, Inc. is a leading private equity real estate investment group that focuses on enhancing and increasing value on undercapitalized and underperforming real estate assets. Providing its own development, rebranding, leasing, and asset management services, the company’s expertise spans various product types. DJM’s West Coast portfolio is valued in excess of $1 Billion. Known for its aggressive growth strategy and opportunistic, entrepreneurial investment approach, DJM specializes in identifying commercial properties throughout California and deploying its skilled team to create value and provide attractive returns for investors and partners. Additional information is available at www.djmcapital.com.

 

Contact:
Linda Berman
DJM Capital Partners
626-395-7545


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There’s location and then there’s birthright. In the epicenter of So Cal surf culture, our latest development, Pacific City is situated in coastal Huntington Beach with stunning views and easy access to the iconic Huntington Beach pier.

 

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The epicenter of action sports and the birthplace of Southern California surf, this soon-to-be iconic development will provide locals and tourists a distinctive coastal California experience with fresh retail concepts, exceptional So Cal cuisine, contemporary residences, and a boutique hotel.