Phoenix Development Partners

Phoenix Development Partners is a seasoned real estate development and investment firm that delivers proven results across asset classes and project types. Drawing on our extensive experience in all facets of mixed-use and stand-alone development, we target properties and locations with hidden, untapped, or under-developed value in metropolitan growth markets.

Outside the box creativity, market awareness combined with strategic partnering is the culture at Phoenix which results in a blend of both design and financial success.


ANALYZE and stress test each investment with rigorous metric financial modeling and conduct market studies to ensure proper supply and demand structures are in place and relevant to support the property.

TARGET only the top hotel companies to leverage their brand strength and reservation/loyalty programs.

LEVERAGE a wide network of potential lenders to keep interest rates low and Debt Service Coverage ratios (DSCR) under control.

ARRANGE for non-recourse debt and requisite equity on these opportunities.

FUND via Limited Partner Equity providing seed capital to cover Pre-construction Costs such as: Earnest Money Deposits, Legal Fees, Architectural & Engineering design, Interior design and Consultant studies.




PROPERTY MIX




NATIONAL AND GLOBAL EXPERIENCE

EXPERTISE: Acquisition, Entitlement, Finance, Market strategy, Design, Valuation, Development, Construction, Marketing, Sales / Leasing, Asset management

About

Phoenix Development Partners core members bring diverse experience, effective management, recognized insight and creativity, as well as respected relationships to each project.



EXECUTIVE MANAGEMENT

JOHN MANGEL III
CEO

Direct : 312-466-5700
jmangel@
phoenixdevelopmentpartners.com

John, founder of Phoenix Development Partners brings, substantial business development and planning experience having served as vice president of business development and acquisitions for HSA Commercial Real Estate and director of business development and strategy planning for the Walt Disney Company. While at Disney, he contributed to the development of 2,100 guest rooms; 140,000 square feet of retail and dining venues, directed the business plan for a $1 billion domestic theme park resort and participated on the development team for Disney Hong Kong. He began his career at Fifield Companies and LaSalle Partners (Jones Lang LaSalle).

MICHAEL SCHWEITZER
Vice-President
Development & Operations

Direct : 407-257-8609
mschweitzer
@phoenixdevelopmentpartners.com

Michael has a unique mix of business roles, with proven leadership in new business ventures domestically and internationally, driving financial results and operational efficiencies across complex, multi-functional businesses. His specialities are business development, market feasibility studies, strategic planning, research, financial modeling, and valuation. He was senior manager, technical development and industrial engineering at The Walt Disney Company where he led an analytical and strategic support team for six theme parks, two water parks, 20 hotels with 25,000 hotel rooms, 500+ F&B venues, and was a core member of Shanghai Negotiation Team, a $4 billion capital project with annual revenue of more than $500 million.

ROBERT BRAZIUNAS
Development Director

Direct : 312-810-7490
rbraziunas@
phoenixdevelopmentpartners.com

Responsible for project design to realization, inspirational sketch to nuts and bolts. During his over 40 years of professional experience he has been involved with projects totaling in the billions of dollars worldwide, including almost all use categories, architecture and planning in both the public and private sectors. Prior to becoming directly involved with development, he held key positions at multiple architecture firms located in Chicago and overseas, whether on the board of directors, studio head or chief designer. Sample clientele includes the Minister of Foreign Affairs France, LVMH, Canal+ Television, Envergure Group, Government of Turkmenistan, Oliver Mcmillan, Terra cotta Industries, North Fork Ranch, Club Rio Mar.

PETER JENSEN
Business Development Director

Direct : 212-737-5800
pjensen@
phoenixdevelopmentpartners.com

Peter is a New York attorney and business development professional with over 20 years of experience in law and business. In the early 1990’s he represented the Beijing Silver Tower development which was the first major joint venture office building development in the Chaoyang District with a Chinese mortgage and foreign guaranties. More recently, Peter has co-developed, invested in and raised capital for real estate development projects in the United States with a total development cost of over $500 million including seven hotels.Peter has a law degree from Columbia University in New York and business degree from Peking University in China.

SHARON SHI
EQUITY RESOURCES DIRECTOR

Direct : 312-235-2410
sshi@
phoenixdevelopmentpartners.com

Sharon is responsible for equity capital strategies, management of investor relationships, the development and implementation of investment opportunities. Sharon is an attorney and Counselor of the Supreme Court of the United States, New York Bar Association and American Immigration Lawyers Association. She has extensive expertise in investment-based immigration matters. Professionally trained in China with a Master in Law, she later graduated from Chicago-Kent College of Law. She also has served on the Board for a non-profit organization, dedicated to the general well-being of immigrants.

PETER ULRICH
Capital Markets Director

Direct : 312-909-9921
pulrich@
phoenixdevelopmentpartners.com

Peter leads capital market strategy and implementation. Background in capital market services has been in both domestic and in Western Europe. He finds capital solutions for senior and mezzanine debt, preferred equity and pure equity. In addition to the traditional debt structures his background is also in the public realm HUD/221d4, TIF and TIF monetization’s, FNMA, Freddie Mac, Public Finance and Development Authorities, Pace Equity and public grant opportunities for acquisition, development or redevelopment plans. Actively involved with over $6 billion in commercial real estate assets including office, multifamily, hospitality, student housing and seniors housing.

Portfolio

Student Housing

INFINITE

Chicago

The conversion of three historic office properties located in the heart of Chicago's loop to student housing. Phoenix spearheading the assemblage and re-zoning of the three properties, then securing $10 million in historic tax credits and a Joint Venture with Campus Acquisitions a leader in this market. The gross project costs were $60 million, $50 million net after the historic tax credits. Sold for $79,797,000 to an institutional buyer.

Units
135

Gross square feet
300,000

Development budget
$50.0 million

Completion date
Occupied

Architect
Pappageorge Haymes Partners

General Contractor
Lynn Mathes Inc.

Residential

THE BUCKLER

Milwaukee

In partnership with CA Ventures Phoenix is converting an office high-rise into market rate rental housing units and associated parking in Milwaukee's urban center. The Buckler will include a major amenities package including fitness, lounge conference room, basketball court social courtyard and garden. Unit mix varies from 2 story duplex units with private patios to micro residential units

Residential units
207

Gross square feet
250,000

Development budget
$30.6 million

Completion date
January 2016 Currently leasing and occupied.

Architect
Dimension IV Madison

General Contractor
Tri-North Builders

Hospitality
 

HYATT REGENCY

Deerfield, Illinois

300 key iconic hotel operating on 6.3 acres in a northern suburb of Chicago.

Value Add Strategy
Renovate and enhance the quality of the guest rooms. Suchenhancements would enable the hotel sales team to gain pharmaceutical accounts as well book additional corporate business, which includes capturing the Caterpillar HQ. market. There is opportunity to attract additional wedding and weekend business with a renovated product and adjusted key mix. As weekends are softer in the business market compared to weekdays this would be beneficial during the lower occupancy periods adding substantially to the bottomline.

Guest Rooms:
300

Banquet / Meeting:
10-17 Rooms

Gross Square Feet:
230,000

Development Budget:
$47.8 Million

Completion Date:
Spring 2020

Architect:
Hirsch / Gettys

General Contractor:
Leopardo Construction Group

Management:
Aimbridge

Sale Year:
Year 5

Estimated Gross Sale Price:
$63.7 Million

HOMEWOOD SUITES

Mayfair Collection Wauwatosa, Wisconsin

This project is located in the new, open and expanding Mayfair Collection retail, restaurant and residential development in a upscale established suburb of Milwaukee. This hotel will be a cornerstone of the community. and will become a first choice for guests seeking comfortable and home-like accommodations when traveling for an extended stay. Homewood Suites by Hilton received the highest ranking in the J.D. Power North America Hotel Guest Satisfaction ten years in the past 13 for the brand.

Guest Rooms:
146

Meeting Rooms:
2

Gross Square Feet:
114,000

Development Budget:
$19.6 million

Completion Date:
Fall 2016 Currently under construction

Architect:
BKV Group

General Contractor:
Stevens Construction Corp.

Restaurant

OSGOODS

Mayfair Collection Wauwatosa, Wisconsin

Upscale fast casual dining with drive thru / pick up service. A modern fresh design both on the exterior and interior with a post industrial gesture to the architectural spirit of the Mayfair Collection. It is situated for maximum visibility with a major highway and collector roadway which border the future restaurant. Counter order with runner service will offer a wide variety of menu items, burgers, ribs, salads, something for everyone, very much family friendly.

Seats
167 indoor 62 outdoor

Gross square feet
6504sf enclosed 1040sf patio

Development budget
$4.0 million

Completion date
November 2015 Currently operational

Architect
Knauer Inc.

General Contractor
Tri-North Builders

 

MAYFAIR COLLECTION

Wauwatosa, Wisconsin

A collection of 3 restaurants each with their own cuisine but a common core kitchen. A beer-centric tavern, an upscale french bistro and a taqueria restaurant each with their own outdoor dining terraces.

This group represents an entire block at the Mayfair Collection located at the western entry of and sets the standard for the restaurant row. In addition, the tavern has direct access and control of an event outdoor space while the patio spaces of the other two restaurants face community event pocket park.

Seats:
435 indoor 116 outdoor

Gross square feet:
15,600sf enclosed 2700sf patio

Development budget:
$9.7 million

Completion date:
Winter 2017

Architect:
Kahler Slater

General Contractor:
Tri-North

Management:
Next

Business Park

PARK 94 AT MT. PLEASANT

Mt. Pleasant, Wisconsin

Park 94 is a multi-use business park, in Racine County strategically positioned a mile East of Interstate 94 via full service interchange at State Highway 20, which offers both accessibility and visibility. The park is situated on over 120 acres, ideally located for local, regional, and super-regional distribution, between Milwaukee and Chicago. A joint venture development with HSA Commercial Real Estate.

With the activity amongst large corporate users, Amazon, Cline, and recently Foxconn the Southeast Wisconsin market has started to attract national attention as a competitive industrial logistics location. Taking advantage of the areas strategic location to Interstate I-94, Mitchell and Ohare International Airport, provides unparalleled access to regional, national and international markets. This is first purely speculative LEED industrial development in Southeast Wisconsin

Pad Ready Sites:
Build-To-Suit 20,000 to 400,000 sf

Currently Leased:
128,000 sf

Sold:
324,000 sf

Under Construction:
86,000 sf

Completion Date:
In Progress

General Contractor:
Berghammer Construction

Management:
HSA Commercial Real Estate

Medical Center

CRANE CREEK MEDICAL CENTER

Melbourne, Florida

Crane Creek Medical Center is a state-of-the-art medical office building occupied by world-renowned tenants. Per John Mangel’s, lead HSA PrimeCare acquired the Crane Creek Medical Center, as part of a joint venture with Harrison Street Real Estate Capital. The six story medical office building was purchased from a joint venture between Milwaukee-based Zilber Ltd. and the building’s anchor tenants, The B.A.C.K. Center and Osler Medical. The B.A.C.K. Center, is a neck and spinal specialty practice led by the renowned spinal surgeon Dr. Richard A. Hynes, currently occupies two floors totaling 68,000 square feet

Includes office suites, a pharmacy, a medical equipment company and a 6,400-square-foot auditorium in which the practice hosts educational programs and medical seminars

Gross Square Feet:
107,000

Leased:
Fully

Completion Date:
2009

JV Acquisition:
2011

Management:
HSA Primecare

New Projects

Senior Living

ORLAND HILLS

Orland Hills, Illinois

A new Chicago southwest suburban four story 87-unit independent and assisted living facility that would provide state-of-the art housing and enhanced quality of life for seniors. It includes 25 independent living units, 30 assisted living rooms and 32 memory care rooms. Located in a quiet nature filled surrounding, and minutes from established village services and amenities. This project is currently entitled, ready for permit and bid by a general contractor. Operator selection is currently under review.

Parcel:
93,253 sf (2.14 acres)

Units:
87

Gross Square Feet:
74,588

Development Budget:
$25.2 million

Completion Date:
Fall 2020

Architect:
Tyson and Billy Architects

General Contractor:
Novak Construction

Management:
To Be Determined

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SHERATON

City, State

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CAMBRIA

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226 West Jackson

City, State

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News

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MILWAUKEE - Construction is Booming in Downtown Milwaukee

Construction is booming in downtown Milwaukee as developers try to get suburbanites to move into the city. Experts said the apartment boom downtown keeps growing and isn't slowing. Buildings are either under construction, or like the Buckler, just completed. The Buckler, at 5th and Michigan streets, sat vacant for about six years when it was known as the old Blue Cross Blue Shield building. It now houses more than 200 upscale apartments with 24-hour concierge and a basketball court.

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Infinite Chicago - Best Adaptive Reuse (from non-residential product to rental apartments) - Winner

The redevelopment encompasses the conversion and renovation of three vintage buildings located in Chicago's downtown Historic Music Row district into a mixed-use housing and retail complex tailored to the area's booming college student population. Designed by the noted Architects Marshall & Fox, the landmark Steger Building of 1910 and the Gibbons Building (contributing structure in a designated historic district) of 1912 are repurposed for 124 residential dwellings.

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Infinite Chicago - Design Excellence Awards 2015

The conversion and renovation of Chicago's landmark 19-story Steger Building (1910), and the 16-story Gibbons Building (1912) designed by Marshall & Fox Architects, and the iconic Pickwick Stables Building (1800's) located between the two structures into a mixed-use student housing and retail complex. The complicated adaptive re-use scheme honors the historic legacy of the buildings while maximizing the development opportunity.

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Inside The Buckler Apartments

Out go the cubicles, in come the queen beds. Chicago developers are breathing new life into a long-vacant office building by converting it to high-end apartments. Built as the Milwaukee office for insurance giant Blue Cross Blue Shield in 1978, the 11-story, modernist tower at 401 W. Michigan St. had been vacant since 2006. Now known as The Buckler, it's home to 207 apartments ranging from first-floor, townhouse-style units to penthouses with lake and skyline views.

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2,700 homes planned on South Loop site

A development group that has been gobbling up South Loop land wants to build five towers with nearly 2,700 residential units on one site it controls just four blocks south of the Willis Tower.

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Apartments proposed for former Blue Cross site near Grand Avenue

A downtown Milwaukee office building, vacant since 2006, would be converted into market-rate apartments -- a $28 million development that would help bring new life to the area near the Shops of Grand Avenue. The 11-story building at 401 W. Michigan St., formerly home to Blue Cross Blue Shield of Wisconsin, would be converted into just under 200 units for about 300 residents, according to the proposal from DJ Acquisitions LLC, a Chicago-based investment group.

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Developer follows downtown growth west

Since late 2014, workers have been converting a long-vacant office building near downtown Milwaukee's Shops of Grand Avenue into just over 200 high-end apartments. But that $30.6 million project has operated in stealth mode, with sparse news media coverage based solely on information from building permits and other public documents. Now, Chicago developer John Mangel is talking about why he and his partners are making a major investment in a building that has been empty since 2006.

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Daccord's Wisconsin Presence Grows

Daccord is providing project management services for four separate projects for Phoenix Development Partners all located in the Milwaukee, Wisconsin area.

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New restaurants, hotel coming to Mayfair Collection

A groundbreaking Thursday at Highway 45 and Burleigh Street marked the start of construction of a Homewood Suites hotel and a group of four Bartolotta restaurants. A 6,500-square-foot diner, Osgood's, will be built near Highway 45. An additional 15,000-square-foot building will be built to hold three additional restaurants, including a gastropub, a sushi restaurant and a French bistro.

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The Milwaukee Restaurant Ecosystem

There are an estimated 1,300 restaurants in Milwaukee, with more than 50 opening in the past year. These range from neighborhood mom-and-pop operations to expensive gustatory palaces, each of them vying for the attention and dollars of an increasingly savvy audience. What�s remarkable about this burgeoning scene is that when digging at the roots that anchor and connect these establishments, some familiar faces emerge cloaked in chef�s whites. As much as restaurants live or die by their food, their leadership and staff play perhaps an even more important role.

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Bartolotta to open three restaurants at Mayfair Collection

Bartolotta Restaurants, of Milwaukee, and Phoenix Development are planning to build three free-standing restaurants at the south end of the center close to Burleigh Street, according to a Thursday announcement. The restaurant openings will be staggered, with the first opening later this year and others opening by summer 2015.

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PHOENIX DEVELOPMENT PARTNERS WORKING WITH THE BARTOLOTTA RESTAURANTS TO CREATE AND MANAGE THREE NEW EATERIES AT THE MAYFAIR COLLECTION IN WAUWATOSA

Phoenix Development Partners today announced it will partner with The Bartolotta Restaurants to create, open and manage three NEW dining spots at the just-opened Mayfair Collection in Wauwatosa. While still in the development stages, possible restaurant concepts include a modern diner, a beer-themed pub and a casual French bistro.

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Phoenix Development Partners and The Bartolotta Restaurants Break Ground on Four New Restaurants at The Mayfair Collection

Following more than a year of planning, shovels hit the dirt Thursday at The Mayfair Collection on what will be four new restaurants created through a partnership between Phoenix Development Partners and The Bartolotta Restaurants.

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The Buckler apartments create big impact despite low profile

Among downtown Milwaukee's new apartment developments, The Buckler could be the largest project with the least amount of publicity. A $30.6 million private investment withmore than 200 units, the building does not have a high-profile location on the Milwaukee River and does not overlook Lake Michigan.

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The Buckler From empty office building to apartment building, the conversion is nearly complete.

The 401, now known as The Buckler, is still under construction. The former office building at 401 W. Michigan St. is being converted into an apartment complex in the hope that it brings life to Downtown. The 11-story, 236,218 square-foot building was the Wisconsin headquarters of Blue Cross Blue Shield insurance until 2006 when the company abandoned the building for Summit Place in West Allis. The building has been empty since.

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This was a fantastic evening for PH to show off the Gibbons + Steger Buildings.

What an incredible evening at the Gibbons + Steger Buildings � �Infinite� Apartments at last week�s Landmarks Illinois Real Estate and Building Industries Council Award Reception. This is a gorgeous revitalization of what were underutilized and deteriorating buildings on a key Chicago Loop corner at Jackson and Wabash. CA Ventures, and its many partners, recognized and responded to the significant market demand for student housing downtown cost effectively through the adaptive reuse of these buildings.

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Contact


30 South Wacker Drive, Suite 2200
Chicago, IL 60606

1212 Avenue of the Americas, 16th Floor
New York, NY 10036

Office: 312.466.5700

info@phoenixdevelopmentpartners.com



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