DJM To Restore Lido Marina Village

NEWPORT BEACH, CA-DJM Capital Partners, a private-equity investment, development and asset-management firm focusing on the retail sector, will begin work to restore Lido Marina Village here beginning in February. The firm will develop the landmark so that it once again becomes an appealing shopping, dining and marina destination for locals and visitors, spending an estimated $16 million, GlobeSt.com has learned.

The first phase of work is anticipated to be complete in early 2015. At that time, the newly reimagined Lido Marina Village will be unveiled, featuring a mix of casual-luxe eateries, boutiques and shops. The second phase of the plan involves upgrading of the project's marina, expected to be complete by July 2016. This will set stage for waterside restaurants, shops and leisure experiences to take advantage of the waterside docks, decks and views.

“We acquired Lido Marina Village in 2012 with the goal of bringing it back to its original charm and vibrancy,” says Lindsay Parton, president of DJM. “Although the project had, in the hands of previous ownership, been allowed to languish, our firm saw the potential to revitalize Lido Marina Village, making it a special place that captures the casual, sophisticated charm that Newport Beach has always offered.”

First developed in 1971, Lido Marina Village was originally conceived as a small and inviting, pedestrian-friendly village for shopping, dining and marina activities. Capitalizing on the property's idyllic coastal location, DJM says it is restoring the area to bring out much of its original personality and charm.

“Our Lido Marina Village team has spent more than a year in the area, immersing ourselves in the history and community, to ensure that we offer local residents and visitors something that caters specifically to their tastes and desires,” says Parton. “To create this environment, we will make subtle, yet important, changes to upgrade the buildings, interior streets, storefronts, hardscape, landscaping and lighting. We also will be upgrading the docks and decks on the marina side, to take advantage of the project's amazing location on the water and to restore the entire Village to the quality it deserves.”

According to Heather Hollister, DJM's SVP of leasing, the reimagining of the property is already generating a lot of excitement in the retail and food communities. “Our highly selective and strategic leasing plan for Lido Marina Village will ensure that we curate n upscale mix of offerings that are modern, fresh and also fun. Visitors to Lido Marina Village can expect a collection of restaurants, cafes and artisan food purveyors, as well as shops featuring fashion home décor, gifts, books and much more.”

As GlobeSt.com reported in February 2013, investment-banking firm George Smith Partners completed its 12^th deal with client DJM. As we reported in January 2013, GSP arranged and closed $185 million in financing on behalf of DJM for the recapitalization of a retail portfolio consisting of four class-A retail shopping centers in Southern California.