LOS ANGELES-A new venture started by prominent local developer J.H. Snyder & Co. and a former partner at MaguirePartners intends to use its initial $50 million in funding to acquire properties in coastal areas that have redevelopment potential, the partners say.

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:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 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.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.