Greystar | February 07, 2022
Pre-leasing is underway at 525 Olive, a nearly 300,000-square-foot luxury apartment community in Bankers Hill being developed by global real estate leader Greystar in conjunction with St. Paul's Episcopal Cathedral. Offering panoramic views of San Diego's famed Balboa Park, the more than $100.2 million project is slated for completion in April 2022, with move-ins to begin in April.
According to Raul Tamez, director of development for Greystar, the 20-story luxury community is San Diego's answer to New York's Central Park living – providing easy access to the city's urban playground, Balboa Park, which features over 1,200 acres of natural outdoor space.
With its elevated Bankers Hill location, 525 Olive is now the highest residential address in San Diego, offering sweeping city, bay and park views. This is an extraordinary opportunity to live in one of San Diego's most walkable and bikeable neighborhoods, offering close proximity to not only Balboa Park, but also dozens of nearby shops and restaurants, and other vibrant areas such as Downtown, Little Italy, Hillcrest and Mission Hills."
Greystar – a leading residential real estate manager and developer – acquired the .59-acre parcel of land from St. Paul's in 2019 and construction commenced shortly thereafter. As part of the transaction, the church will occupy 10,000 square feet on 525 Olive's first floor and 8,500 square feet on the bottom level as well as use of the underground parking garage. The 204 total residences will include studio, one-, two-, three-bedroom floor plans, plus penthouse suites, with homes spanning 533 to 1,625 square feet.
Designed to condominium standards, 525 Olive homes are outfitted with modern wide wood plank style flooring, private patios or balconies and state of the art touches, such as auto shades, WiFi enabled LG thermostats, keyless entry doors and much more. Kitchens are equipped with top-of-the-line Fisher & Paykel appliances, sturdy quartz countertops and stylish herringbone tile backsplash. Twelve penthouse residences span the top two floors and range from 1,280 to 1,625 square feet with upgraded finishes, more expansive floor plans and unobstructed city views. Furthering the homes' sophisticated motif, all interiors were artfully designed to reflect the building's lush setting, with clean lines and a neutral color palette connecting to the surrounding trees, sky and water, and floor-to-ceiling glass windows to maximize city and park panoramas.
While 525 Olive is contemporary in style, elements of the building have been carefully designed to complement the neighboring church – a neo-gothic style structure built in 1951 – as well as the nearby park and the surrounding neighborhood. The striking ground floor lobby area – with bold modern accents, organic fine touches and an understated color palette – also encompasses a soon-to-be named retail venue, plus the community's leasing office, mail area, multiple courtyards and the outdoor dog run. Dramatic amenity spaces include the Level 20 SkyClub, a rooftop retreat that spans the entire top floor and includes a clubroom with kitchen and TVs, the Park Lounge social area with a food bar, and the Sun Club with a sparkling rooftop swimming pool and lounge. Rounding out the amenity line up: an expansive indoor/outdoor fitness studio, courtyards with plenty of outdoor seating, a dog run and pet spa with grooming services and work lounge with Zoom conference rooms. Residents also have access to concierge services, 24-hour package reception, reservable bikes as well as a 15,000 square foot community park.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion of real estate in 215 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 754,000 units/beds, and has a robust institutional investment management platform with more than $49.9 billion of assets under management, including $22.6 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business.
REAL ESTATE ADVICE
Harold Clarke Advisors | March 09, 2022
Mana'olana Partners, the ownership entity of Mandarin Oriental Hotel and Residences, Honolulu established by Los Angeles-based Salem Partners, has resumed sales of The Residences at Mandarin Oriental, Honolulu after placing its efforts on hold during the COVID-19 pandemic. A new residence gallery is now open and welcoming guests by appointment.
As restrictions continue to ease and we see the return of international travel, we believe it is the perfect time to resume sales. We've been pleased with the interest ahead of our official relaunch and look forward to continuing to build momentum."
James Ratkovich, Co-Managing Partner of Mana'olana Partners
The Residences features 99 private homes that offer an unprecedented lifestyle made possible by the Mandarin Oriental's legendary service coupled with Hawai'i's boundless natural beauty. The property, located at the nexus of Ala Moana and Waikīkī, will be Mandarin Oriental's first residential concept on O'ahu and the brand's only hotel operated on the island.
"There is nothing else like The Residences available in Hawai'i," added Ratkovich. "The return of The Mandarin Oriental brand to Honolulu will offer luxury and hospitality unmatched in the world."
Residents will enjoy the advantages of bespoke hotel living, including personalized five-star service, exclusive amenities available only to owners and an attentive concierge team dedicated to delivering authentic experiences of Hawai'i. Michelin-level dining, Mandarin Oriental's world-renowned spa treatments, and world-class shopping, dining, and entertainment make every imaginable convenience within steps of The Residences.
The Residences at Mandarin Oriental, Honolulu is designed by a premier team, including [au]workshop architects+urbanists, Honolulu-based AHL, Meyer Davis, Dianna Wong, Hart Howerton, Fluidity Design and Molteni&C Dada. Harold Clarke Advisors, foremost ultra-prime real estate industry experts in Hawai'i, is leading sales and marketing for the project.
About Mana'olana Partners
Mana'olana Partners is the ownership entity of the Mandarin Oriental Hotel and Residences, Honolulu established by real estate development firm Salem Partners. Founded in 1997, Salem Partners comprises three platforms: investment banking, real estate development, and wealth management. Salem's investment bankers have completed billions of dollars of transactions in the media and entertainment, healthcare and life sciences, aerospace and defense, and real estate industries. Real estate development is headed by industry veterans experienced in all segments of the built environment.
About Mandarin Oriental Hotel Group
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most luxurious hotels, resorts, and residences. Having grown from its Asian roots into a global brand, the Group now operates 36 hotels and seven residences in 24 countries and territories, with each property reflecting the Group's oriental heritage and unique sense of place. Mandarin Oriental has a strong pipeline of hotels and residences under development and is a member of the Jardine Matheson Group.
REAL ESTATE TECHNOLOGY
UL | May 12, 2022
UL, a global safety science leader, announced a new partnership with InSite, a provider of building intelligence solutions that enable organizations to optimize performance of real estate assets, achieve sustainability goals and fulfill environmental, social and governance (ESG) reporting requirements.
With this partnership, InSite will provide building owners and property managers with actionable building intelligence data to complement UL's ESG advisory, sustainability and energy advisory, indoor environmental quality and field services. UL's advisory services include services such as energy and water audits, commissioning advisory services, sustainability certifications, including Leadership in Energy and Environmental Design (LEED), Building Research Establishment's Environmental Assessment Method (BREEAM), Fitwel and the WELL Building Standard.
Per the 2020 Global Status Report for Buildings and Construction by GlobalABC, buildings generate nearly 40% of annual global CO2 emissions including 28% from building operations. As part of the UL and InSite combined offering, InSite's building intelligence platform will support robust reporting and disclosure of ESG and sustainability data to key stakeholders such as GRESB. UL will leverage InSite's extensive data integration capabilities and operational insights to provide relevant advisory expertise, such as carbon accounting and net zero carbon emissions.
ESG reporting for a building encompasses a variety of environmental metrics. According to the 2020 United Nations Global Status Report for Buildings and Construction, the operations of buildings contribute to 28% of total global energy-related carbon dioxide emissions. In addition to greenhouse gas emissions, other environmental factors should be considered for ESG reporting, including energy use, water consumption, solid waste and biodiversity.
The commercial real estate industry has prioritized formulating building performance and ESG data as well as related reporting standards as part of overall property management operations. UL's new partnership with InSite will allow us to serve customers with an end-to-end technology and advisory solution to help inform these critical business decisions, including asset allocation, property management company selection and overall investment strategies."
Sean McCrady, global director of UL's Asset and Sustainability Performance group
"We are extremely excited about our new partnership with UL and the positive impact it will have on our customers. This partnership allows us to continue monitoring and reporting building performance, sustainability and ESG data while enriching and elevating our clients' sustainability journeys with UL's industry-leading advisory," said Francis Gangemi, InSite's president.
InSite is a premier business intelligence solution for real estate owners and operators. InSite's software as a service (SaaS) platform and managed services provide innovative, data-driven insights enabling clients to achieve ESG and sustainability goals and improve building performance while reducing operating costs. InSite's cloud-based platform seamlessly integrates data from a multitude of sources and systems. Leveraging a combination of machine learning and human analytics, InSite delivers actionable intelligence for optimization of real estate operations in support of strategic objectives and regulatory compliance.
UL is a global safety science leader. We deliver testing, inspection and certification (TIC), training and advisory services, risk management solutions and essential business insights to help our customers, based in more than 100 countries, achieve their safety, security and sustainability goals. We believe our deep knowledge of products and intelligence across supply chains make us the partner of choice for customers with complex challenges.
REAL ESTATE ADVICE
Flamingo Group | June 24, 2022
The Flamingo Holding Group (Flamingo Group), a key player in the real estate arena both in Vietnam and around the world, has emerged as the winners of two vital categories at the prestigious International Property Awards (IPA) 2022. The Flamingo Group is also the only Vietnamese enterprise to be awarded a pair of wins at the BCI Asia Awards 2022.
At the IPA 2022 June 23 event in London, the Flamingo Group surpassed hundreds of prestigious real estate developers worldwide. It came out on top as the project with the best landscape architecture in the Asia Pacific and the best complex architecture in the Asia Pacific for the Flamingo Hai Tien located in Thanh Hoa, an investment hotspot in Vietnam.
Tasked with innovating on the luxury resort real estate model, Flamingo Group received high praise from the professional judges for its green architecture and unique "Forest in the Sky" style. In addition, the Flamingo Hai Tien project was developed according to the model of Ibiza - the largest party island in the world - with the result of a paradise of villas and plenty of entertainment and food options stretching for kilometers.
Established in the UK with nearly 30 years of operation, the IPA is considered one of the most prestigious annual real estate awards on the planet and is often indicative of a guarantee of excellent quality in global real estate.
The Flamingo Group was also awarded double honors at BCI Asia Awards 2022 to be held on June 30, they have won 2 awards categories: Top 10 Developer 2022 and IDA Interior Design Award 2022 for the Flamingo Cat Ba project, the first Vietnamese enterprise to do so.
In addition to the sustainable profit factor and towards the highest standard of a 5-star resort, Flamingo's design is also associated with the everlasting philosophy with nature. We apply this philosophy in architectural design, green space renovation, and application of green technology in operation, bringing the difference and portraying the "Flamingo identity" in our customer's and partners' hearts."
Mr. Truong Xuan Quy, General Director of Flamingo Land Business JSC, a subsidiary of Flamingo Group
"Projects in Dai Lai - Vinh Phuc, Cat Ba - Hai Phong, Hai Tien - Thanh Hoa will all have the fastest access to the rigorous standards of world-renowned 5-star resorts," he added.
The BCI Asia Awards have been held annually since 2005, where the BCI Media Group and its judges help provide an overview of the architecture and construction industry in the region by recognizing the various architects & developers. They have had a significant impact on the Vietnamese market.
About Flamingo Group
Established in 1996, Flamingo Group has constantly been developing with exponential growth in many industries: leisure, real estate, tourism, hospitality services, construction, architecture, etc.
Motivated by an ambitious desire for Vietnamese brands to achieve international reach with world-class products and services, Flamingo Group is now recognized as a leading leisure realty and hospitality developer in Vietnam and the surrounding region, with a series of renowned projects and a hall of fame including 65 prestigious national and global awards.