The new venture, Snyder Partners, was announced yesterday. It unites J.H. Snyder, whose high-profile projects include the 1.26-million sf Water Garden office campus in Santa Monica, with veteran broker and former MaguirePartners executive Drew Planting.
Planting, who most recently was marketing MaguirePartners' interests in the Westside's Playa Vista development, worked with J.H. Snyder several times in the past. He says he approached the company, headed by multimillionaire builder Jerry Snyder, largely because there are several promising projects available today and the recent softening in real estate prices has made potential acquisitions more affordable.
The venture has already raised $50 million, adds Planting, who will head the operation with longtime J.H. Snyder partner Cliff Goldstein. It will focus on coastal properties with upside potential that can be realized through remodeling or redevelopment, better marketing, improved zoning or through other value-added measures.
Though J.H. Snyder Co. has built some of the region's best-known office and retail complexes, it also has been involved in some key redevelopment jobs. Earlier this month, it unveiled plans for a $160-million redevelopment project in North Hollywood that would include more than 1.2 million sf of office and retail space as well as several apartments.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
