Spaulding Point DevelopmentSpaulding Point Development

Artecity

Project: Artecity is a collection of four buildings that offer an upscale residential village facing Collins park just steps from the ocean in the heart of South Beach

Involvement: Assisted ST Residential* with all remaining draw requests, final punch, and the determination of any developer defect liability.

Size: 6 buildings, 202 residences, 4 commercial spaces

*Danville Leadbetter was an employee of ST Residential from 2012-2014.


Apex. The One.

Project: This failed condominium project was a part of the Chorus bank portfolio purchased by ST Residential, a public/private partnership between the FDIC and Starwood Capital in late 2009. After making substantial improvements to the lobby and amenities, ST Residential launched a leasing campaign in 2012 and by early 2013 the asset was over 73% occupancy.  ST Residential bulk sold this asset along with 12 others for over $900 million in the same year.

Involvement: Assisted ST Residential* with final completion of the Live Here Lounge, pool deck amenity, unit punch, processed all draw requests, the determination of developer liability, and the final disposition of asset.

Size: 271 for lease apartments.

*Danville Leadbetter was an employee of ST Residential from 2012-2014.

 


Laketown Wharf

Project: This distressed asset was less than 10% occupied when ST Residential got involved. ST Residential stabilized the asset by converting 300 condos to full service hotel units and leasing the remaining units. Approximately $10M in additional improvements to the lobby, amenity areas, and fitness center were made. The asset sold in 2014.

Involvement: Assisted ST Residential* with all contractor draw requests, final punch, and its determination of developer defect liability.

Size: 65 condo units, 300 hotel units, 400 lease units

*Danville Leadbetter was an employee of ST Residential from 2012-2014.


Turtle Bay Resort

Project: Using the existing comprehensive plan, the intent was to develop a 3 mile spine road, reconfigure an existing 18-hole golf course, and develop a new golf clubhouse facility and maintenance area, 5 hotel sites and 1000 condos.

Involvement: Assisted the Kuilima Resort Company LLC* with permitting and development of the project.

Size: 850 acres

*Danville Leadbetter was an employee of the Kuilima Resort Company, a subsidiary of Oaktree Capital Management from 2005-2007.

 


Artecity
Apex. The One.
Laketown Wharf
Turtle Bay Resort