September 19, 2006 - Capri Capital Partners
CHICAGO, IL – Capri Capital Advisors, LLC (“Capri”) has announced it has entered into a joint venture with PM Realty Group (PMRG), a Houston, Texas based full-service commercial real estate firm on behalf of an institutional investor. Together, Capri and PMRG will redevelop Park Lane; Dallas’ premiere mixed-use, lifestyle development. Park Lane is located eight minutes from downtown at the intersection of Park Lane and Central Expressway. The nation’s largest Whole Foods Market will be one of the prominent anchors at Park Lane.
“PM Realty Group is creating an urban residential experience to supplement the dynamic retail destination that Harvest Partners envisions,” said Rick V. Kirk, President Chief Executive Officer of PMRG. “The combination of our varied product offerings, destination restaurants and specialty retail in a pedestrian-friendly environment, along with proximity to a light rail mass transit system, will create a unique lifestyle at Park Lane.”
“This joint venture allows us to work with PMRG to develop this premiere property,” says Alasdair Cripps, Executive Vice President of Capri. “When this project is completed, it will be an integrated mixed-use community featuring an assortment of popular retail stores and food and entertainment offerings along with newly-constructed housing units that will cater to the residents of Park Lane.”
“With their experience in mixed-use developments, PM Realty Group contributed to the vision and helped us see the whole potential of the project,” said Eliot Barnett, managing partner of Harvest Partners, the developers of Park Lane who selected PMRG. “We are uniquely integrating residential with destination and lifestyle retail along with office and entertainment venues. No where else in Dallas will residents be able to walk from their apartment homes to more than 3-million square feet of upscale retail shops and restaurants.”
About Capri Capital Advisors, LLC
Capri Capital Advisors, LLC, headquartered in Chicago, is an institutional real estate investment advisory firm, investing in and managing commercial real estate portfolios nationally since 1992. Capri Capital offers a broad spectrum of equity and debt products to its customers – through separate account and commingled fund vehicles – that include core equity, joint venture and mezzanine debt financing. Diversified assets managed on behalf of its pension fund and other institutional clients as of June 2006 total approximately $2.8 billion. For more information please call 312-573-5300.
About PM Realty Group
Headquartered in Houston, PM Realty Group (PMRG) is a privately held real estate firm of more than 1,300 employees and 25 divisional and regional offices that conducts business in every major state.
With more than 50 years of experience, PMRG provides services to a portfolio valued in excess of $25 billion. The firm’s diversified client base includes institutional and private investors, real estate investment trusts, government agencies, corporations and healthcare service providers.
PMRG focuses on creating value for its clients and offers a full spectrum of real estate services, including property and facility management, leasing, marketing, investment sales, construction management and engineering. In addition, PMRG partners with clients in comprehensive development and joint venture investment programs. For additional information, visit www.pmrg.com.