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La Entrada Resort Santa Barbara

Mountain Funding, LLC  |  Program management of initial Phase 1 construction for resort and fractional ownership hotel development in coastal Santa Barbara.

 

Construction scope primarily site prep, de-watering, and driving of pilings. The property was subsequently sold to 35 Hotel Street Partners, an affiliate of Woodridge Capital Partners LLC.

 

The La Entrada project was at the time entitled for a 114-room luxury hotel, nine fractional ownership units, and 21,557 square feet of retail space with open plazas, paseos and gardens. The resort architecture evokes the Spanish Colonial Revival style long-admired in Santa Barbara. The Hotel Californian, a small commercial hotel that is part of the redevelopment plan, was built in 1925 as one of the first buildings to be designed in the new Spanish Colonial Revival style envisioned by city leaders in the 1920’s that now defines Santa Barbara.

 

Our client work here was part of our ongoing hotels and resorts development consulting practice.

Feasibility and Due Diligence Consultants - Transaction Consultants and Negotiators

Hotel Portfolio Due Diligence

We provided hotel portfolio due diligence for a group of Hyatt Regency hotels located in Saudi Arabia, each of which has since been reflagged.   As due diligence consultants’ our work was performed as part of the global real estate asset management practice at Newfield Enterprises International (a family office).

 

The engagement involved a portfolio of existing Hyatt Regency hotels operating in Saudi Arabia, for potential portfolio acquisition by client.  Each of the portfolio hotels was luxury class and in superb locations within their separate trade areas.   The due diligence report included an evaluation of competitive hotels, management contract review, and an analysis of each facility’s sales and operating history.  Departmental staffing and profitability and 10-year EBITDA projections were also prepared, as part of the work.

 

One of the hotels (shown in accompanying photo) has since been re-branded as a Radisson Blu).  The other portfolio hotels have also since been rebranded.

 

The hotel portfolio due diligence was prepared for Al Anwae Trading Est. (Riyadh), a family office.   Along with Al Tameer Trading Est. (Jeddah), the two family trading companies owned Newfield Enterprises International as an extension of their respective family offices.

Shopping Mall Redevelopment Concepting

Shopping Mall Redevelopment Concepting

Shopping mall redevelopment concepting for Plantation Fashion Mall in Plantation (Broward County), Florida.   StoneCreek Partners was retained to evaluate net financial results from alternative redevelopment schemes for the defunct retail mall.   Each alternative in consideration involved some form of demolition and new mixed-use program that would integrate all site components..   The overall site includes the mall, along with office and hotel (Sheraton Suites) components.

 

At the time the study effort commenced, the existing shopping mall was in decline with the tenant mix already transforming to office and governmental users.   The malls decline was a result of somewhat poor location given regional roadways, the rise of numerous competitive retail offerings, and an obsolescent mall design at its upper levels.

 

The mall and its adjacent components were eventually renamed 321 North and fully redeveloped in a mixed-use scheme.

 

Our consulting work included an evaluation of strategic alternatives for the shopping center, mall redevelopment and renovation options, tenant and sales mix, and alternative leasing plans to support various lifestyle, location-based entertainment, retail, health services, and mixed-use revitalization options.   The shopping mall redevelopment concepting also included competitive considerations given nearby regional malls with arguably better locations for retailers considering regional site selection, including the Westfield Broward, The Fountains, and the mega-destination Sawgrass Mills mall.

 

Our affiliate AEC Creative was responsible for programming of a unique 3rd-Floor events center – explored and prepared for implementation during renovation.

 

Retail Entertainment Consultants

Mixed-Use Retail-Entertainment – Arena Adjacent

Campanua Properties, Orange County (California). |  Alternative Big Ideas were explored as part of a strategic marketing evaluation, along with preliminary creative treatments for a proposed entertainment complex to be located at a site immediately adjacent to the Anaheim Arena – later renamed the Arrowhead Pond.

The proposed retail-entertainment facility was proposed to complement Anaheim Arena (now the Arrowhead Pond), an indoor sports and spectator facility with seating capacity for up to 19,500 spectators, capable of accommodating all manner of sports, music, and entertainment events. As recently as year-end 2005, The Arrowhead Pond of Anaheim was ranked by Billboard magazine as the third most successful arena facility of its type, based on gross ticket sales.

 

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