Spaulding Point DevelopmentSpaulding Point Development

Project Description

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.

 

Project Detail

  • Commercial
  • Apex. The One.
  • Los Angeles, California

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