HomeMy WebLinkAboutCA Ventures proposalVENTURES
Private Developer
Proposal for the
Court St. / Linn St.
Redevelopment Site
HOSPITALITY, RESIDENTIAL &
RETAIL MIXED-USE
JJ Smith, Chief Development Officer
312 994 1882
jjsmith@ca-ventures.com
John Diedrich, VP of Investments
312 994 1884
jdiedrich@ca-ventures.com
July 2014 1 ca-ventures.com
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
EXECUTIVE SUMMARY
In response to the Court and Linn RFP, CA proposes a mixed-use development consisting of a hotel, residential apartments
and retail. The project would consist of three towers: one tower devoted to 117 hotel suites and 3,500 square feet of retail
and two towers devoted to 304 multi -family units. The luxurious upscale design has extensive modern amenity spaces,
high-end finishes, emphasis on energy efficiency and three floors of underground parking connecting all three buildings.
CA's full-service on-site staff will manage the residential apartments and CA has received multiple letters of interest from
major hotel franchises to brand the hotel. A qualified third party hotel operator would be sourced, in collaboration with the
selected hotel brand, to oversee the day-to-day operations.
PROJECT
SUMMARY
Hotel Rooms:
Units:
Retail SF:
Parking Spaces:
Average SF
Per Unit:
PROJECT
TEAM
Developer:
Manager:
Architect:
General Contractor:
Lender:
Hotel Franchise:
Legal:
FINANCIAL CAPABILITY: Since its inception in 2004, CA has developed or
acquired over 9.5 million square feet of real estate totaling $2.0 billion in
investment value with another $2.5 billion currently in the pipeline. As a result
117 of the company's success and growth, CA has fostered numerous financial
304 relationships and has raised over $700 million in debt and equity.
3,500 DEVELOPER EXPERIENCE & CAPABILITY: Since 2008, CA has developed
272 2,200 residential units and 256 hotel rooms. CA continually delivers projects
that are on-time, on -budget and fully integrated in the market. The reason
754 for such a successful track record is due to the creative design, competitive
construction costs and an experienced leasing team.
Fifth Third
um
Polsinelli
PROPOSED
TIMELINE
MARKET DEMAND: According to the Smith Travel Research (STR) report of
upscale hotels within the greater Iowa City area, occupancy has risen 20%
over the last three years and revenue per available room has increased 24%.
However, two of the five upscale hotels within STR's report are within Coralville,
meaning Iowa City does not benefit from the 7% lodging tax. This project will
revitalize the upscale hotel market as a more viable option to visitors through
a premium location within the downtown area of Iowa City, having brand
recognition and a new product premium. In addition, Iowa City will directly
benefit from the lodging tax versus the lost revenue to Coralville.
Entitlements Complete:
FISCAL BENEFIT TO THE CITY: This project will have a significant beneficial
The residential apartments will give the South Downtown Subdistrict the
impact on Iowa City in the amount of revenue generated through property tax,
Q1 / 2015
lodging tax and the number of employment opportunities. Upon completion,
CA Ventures
CA estimates Iowa City to receive $1,200,000 in property tax within the first
CA Ventures
year and another $330,000 in lodging tax. Based on CA's historic information,
HPA
the City will immediately benefit from approximately 250 jobs needed for
Occupancy:
construction and an additional 50 once the asset is stabilized.
Beal Derkenne
Fifth Third
um
Polsinelli
PROPOSED
TIMELINE
MARKET DEMAND: According to the Smith Travel Research (STR) report of
upscale hotels within the greater Iowa City area, occupancy has risen 20%
over the last three years and revenue per available room has increased 24%.
However, two of the five upscale hotels within STR's report are within Coralville,
meaning Iowa City does not benefit from the 7% lodging tax. This project will
revitalize the upscale hotel market as a more viable option to visitors through
a premium location within the downtown area of Iowa City, having brand
recognition and a new product premium. In addition, Iowa City will directly
benefit from the lodging tax versus the lost revenue to Coralville.
Entitlements Complete:
Q1 / 2015
The residential apartments will give the South Downtown Subdistrict the
Land Closing:
Q1 / 2015
necessary population increase to extend the downtown area south and fulfill the
Permit Issuance:
Q2 / 2015
ongoing efforts to improve the quality of residential options.
Construction Start:
Q2 / 2015
An alternative to the original design would consist of a "flex" office space,
Occupancy:
Q2 / 2016
totaling 21,000 square feet, in which a bridge would connect a portion of
Levels 1 and 2, allowing pedestrians an extra ease of access between the two
residential buildings.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
TABLE OF CONTENTS
01
Proposal Submittal Form..................................................................................3
02
Letter of Interest.............................................................................................4
03
Primary Contact..............................................................................................4
04
Legal Name & Company Information................................................................6
05
Legal Entity With Whom the City Would Contract..............................................7
06
Organizational Chart........................................................................................7
07
Developer Capability........................................................................................8
08
Financial Capability.........................................................................................12
09
Construction & Financing Plan.......................................................................
14
10
Public Financing Participation & Pro Forma....................................................19
11
Project Details & Design................................................................................20
12
Sustainability & Master Plan Objectives.........................................................28
13
Listing of Lawsuits or Litigation Within the Past Five Years .............................29
14
Appendix (Team Member Profiles, Contact Info & References) ......................31
EXHIBIT "A"
Proposal submittal signature form
T?,e und„ i__,Sned aNests to Ns/n a authority to subn irthis proposal and to bind the �rr, hnartect to perforin
4 the Arm is_ seieueV by the C y of Iowa City. I he undersigned ru-blei cer-kn est V he/she has read the P equesi
for Proposal, ienms and cones .Ions, and any other documenktion etas ng to this squesf has comphed in all
respects wth all _rjndRions hemot; and this proposal Is submitted Vditn r ll ,-iok,fieJga 3n,d a de )an01r6 of the
requirements and time const,atnts noted herein,
The u uengned hemby fwMei a:4;nov _i.�,cs Mai it accepts the term of the Reruestfor P-vposals in its ent're-
ty and by the suandsman of its proposal havoy waives any claims or clr ons to it.F�i las has rtat arise out of s sch
RF ; Lhe process e tipoyed by he CRR to s.,Hni and devehp proposals. a The RF. e valual m p ccess described
in the RFP, and agree_ to reg se and hold harmless the City, its empldVeeS, ag:ect;, and co2iciulhanus Tom any
Way loss, ca r damage anang Therefrom
The undersigned hereby aut-Wes any person, On or corpo boy :o furnish any ecit history and Nancial con-
dition o _thee info ;ration rc, dr ori by the City tri verify ( 43ilatior, uslkatCcl to the nnn's submission to the City.
I hereby ne tUy on oerin of the undersigned ?A a that the above niori soon islu and coned A the n.st of
ivy knowledge and Ina tae City may rely on the it mason ondided.
Firm name- CAS e'enturc=_
Home office address: 151 id Clarla St. Suite- 4960
Ciy, sae; r:ip: Chicagp; IL s656i.
Name ar
blame,
c igna k r
Date. J!',.
4
VENTURES
City of Iowa City, Iowa
410 East Washington Street
Iowa City, Iowa 52240
July t5, 2014
To whom it may concern,
Thank you for the opportunity to present our response to the Request for Proposals (RFP) for the redevelopment of the
Court & Linn property in Iowa City, Iowa. We are excited about the prospect of working with the City to develop a Class A
hospitality, residential and retail mixed-use project in the South Downtown Subdistrict of Riverfront Crossings. This project
will have a positive impact to the South Downtown Subdistrict by satisfying the rising hotel demand, providing high-quality,
urban style apartments and significantly increasing the taxable value of the property. CA has a passion for creating ideal
mixed-use properties and believes that the assembled team is the best choice to successfully redevelop the site. We believe
that the combination of residential apartments, hospitality and retail is the highest and best use for this development
opportunity.
As mentioned above, our proposed plan would bring visitors and residents to the South Downtown Subdistrict thereby
helping create the desired pulse of activity needed to extend the downtown area. The added downtown population, tourism,
amenities and retail will help the area achieve the objectives listed in the South Downtown Subdistrict Summary.
CA Ventures consists of experienced and creative commercial design, development and operations professionals that have
been successful in providing new, high-quality housing and hospitality communities on a national scale. If selected, CA
brings "Best In Class" design and operational experience from lessons learned on developments in more than 20 key U.S.
markets. CA understands that, in each case, tourism and in -city residents are the core constituency and driving force
behind a successful community and city.
Enclosed is our full response to the RFP We paid careful attention to addressing each parameter outlined in the RFP. We
encourage you to ask us questions in order to fully understand our capabilities to work closely with the City to plan, design,
construct and open a successful, high-quality project in the South Downtown Subdistrict of River Crossings, We look
forward to meeting you and to begin an ongoing dialogue to address all of your concerns while sharing our mutual ideas.
Respectfully,
dqFr1Medrich (Primary Contact)
Vice President of Investmants
161 N Clark St Suite 4900, Chicago IL 60601
jcjiedrich@ca-ventures.com
312-994-1884
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
LEGAL NAME & COMPANY INFORMATION
1. The proposal submittal signature form (copy attached as Exhibit "A").
Signed Proposal on page 4.
2. A signed letter on the proposer's letterhead indicating an interest in the Project.
Signed Letter of Interest on page 5.
3. Primary contact person and contact information.
Primary Contact on page 5.
4. The legal name and address of the development entity, including all joint ventures, limited partnerships and limited
liability companies, and the percentage of interest of each. Proposers are encouraged to include size of their firm, parent
company, if applicable, and officers/principals of the firm.
Development Entity:
CA Residential Holdings, LLC
161 N Clark St. Suite 4900
Chicago IL 60601
Parent Company:
CA Ventures
Officers / Principals:'
Tom Scott
John Dempsey
John Diedrich
John Druffel
Company Information:
Founder:
Year Founded:
Headquarters:
# of Employees:
Investment Value:
$ Raised:
# of Investments:
SF of Development / Acquisitions:
Brian Morrissey
A Smith
Dan Hrankowsky
Michael Yeagle
Tom Scott
2004
Chicago, IL
80+
$2.0+ billion
$700 million in debt & equity
70+ properties
9.5 million SF
"Executive bios and contact information can be found in the appendix.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
LEGAL ENTITY & ORGANIZATIONAL CHART
5. Identification of the legal entity with whom the City would contract, whether the entity exists currently or would be
created for the purpose of this project, and the names and titles of all parties authorized to act on behalf of proposer:
CA Residential Holdings, LLC
161 N Clark St. Suite 4900
Chicago IL 60601
Authorized Parties: Tom Scott (Chief Executive Officer) & J.J. Smith (Chief Development Officer)
6. An organizational chart showing all members of the proposed development team including, but not limited to developer,
management agency, legal, design professionals, and consultants. Contact information should be provided for each team
member.
CA Ventures
Lma Investor, Oevelopet & Manager
ITom Scott
Chief Exewtive 0/(icer
0 0 0
Brian Morrissey A Smith John Dempsey
Chief. m! ... alodicer Chist Develo men. oBicsr Chief operet: othcer
John Diedrich Dan Hrankowsky John Druffel
Vice P'evdeot of Director of N"gn Lxe,,b. Vse Presftlent
lr'.t-. n" I I Project Manager
F.YECII[N6 VIf2
Beal Derkenne HPA
Genets' Connector Architect of Recon]
Note: Contact information can be found in the reference section of the Appendix.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
DEVELOPMENT CAPABILITY
7. A description of proposer's previous experience, including a brief description of at least two mixed-use projects where
the proposer played a substantial role. The descriptions should include the specific role of the proposer and the current
status of the projects. Sufficient reference contact information should be provided for each project in order to permit the
City to verify the information.
,PP
IN
Ed.
CA Ventures, formerly known as Campus
Acquisitions, has successfully developed more than
2,200 multi -family units and 256 hotel keys across
the country since 2008.
CA continues to deliver projects that are on time, on
budget and fully leased. A direct reflection of our
successful track record is due to the design of our
buildings, competitive construction costs and an
experienced leasing team.
CA's strength in construction materializes from
competitive construction costs to provide high-
quality goods at a low cost. CA's typical building
materials include recycled metal, concrete, self -
healing concrete and other regionally sourced
materials, where available. Also, CA purchases
manufactured goods from local vendors to minimize
transportation costs and impacts.
CA's design team builds communities that
specifically cater to the needs of the market. Every
CA community has had specifically designed floor
plans, amenities and interiors inspired by the
local environment, city district goals and desires
of the residents. This careful consideration makes
each project purposeful and highly sought after.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
RECENT PROJECTS - DEVELOPED & MANAGED
MIXED-USE AT UNIVERSITY OF MICHIGAN
LANDMARK I ANN ARBOR, MI
Project Statistics:
Land Size:
34,583 SF
Residential:
197,422 SF
Total SF:
301,394 SF
Units:
173
Parking Spaces:
135
Site Condition:
New Construction
Construction Type:
High Rise
Rental Range (Per Unit):
$1,699 to $6,000
Occupancy At Opening:
100%
Contact:*
Bill Suekens
Cost Statistics
Construction
Project Total
Total $42,757,828
$72,157,994
Per Unit $247,155
$417,098
Per SF $141.87
$239.41
Amenities
Spa -life Fitness Center
Wellness Center
Modern Cardio Equipment
Yoga
Landscaped Elevated Courtyard
Hot Tub
Members Only Club Room
Cyber Cafe
Business Center
Wi-Fi Lounges
BBQ Station
Fire Pit
Retail Tenants:
7 -Eleven
Tim Horton's
No Thai
World of Beer
Partner Information:
Architect: Hartshorne Plunkard Architecture
Developer: CA Ventures
Manager: CA Ventures
Equity: Harrison Street Real Estate
Lender: RBS
Project Schedule
Entitlements Complete: 09/2010
Land Closing: 01/2011
Permit Issuance: 02/2011
Construction Start: 02/2011
Occupancy: 08/2012
*Contact Information Provided in Reference Section of Appendix.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
RECENT PROJECTS - DEVELOPED & MANAGED
HYATT PLACE I CHAMPAIGN - URBANA, IL
HOTEL & RESTAURANT MIXED-USE
Project Statistics:
Land Size:
26,000 SF
Hospitality:
75,085 SF
Restaurant:
8,557 SF
Total SF:
83,642 SF
Suites:
145
Parking Spaces:
146
Site Condition:
New Construction
Construction Type:
Midrise
Avg Daily Room Rate:
$145
Contact:*
Craig Przygoda
Cost Statistics:
Partner Information:
Architect: DLR Group
Developer: CA Ventures
Hotel Operator: Hyatt
Equity: Associated
Lender: CA Family & Friends
Project Schedule:
Construction
Project Total
Total
$25,547,723
$34,645,336
Per Key
$176,191
$2,389,933
Per SF
$305.44
$414.21
Amenities:
Fitness Center
Conference Space
Indoor Swimming
Pool
Hotelwide Wi-Fi
Cocktail Bar
Bakery Cafe
Partner Information:
Architect: DLR Group
Developer: CA Ventures
Hotel Operator: Hyatt
Equity: Associated
Lender: CA Family & Friends
Project Schedule:
Entitlements Complete:
04/2013
Land Closing:
08/2013
Permit Issuance:
09/2013
Construction Start:
09/2013
Occupancy:
05/2014
*Contact Information Provided in Reference Section of Appendix
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
RECENT PROJECTS - DEVELOPED & MANAGED
MIXED-USE AT TEXAS A&M
RISE AT NORTHGATE I COLLEGE STATION, TX I WWW.RISEATNORTHGATE.COM
Project Statistics
Land Size:
42,962 SF
Residential SF:
173,684 SF
Total SF:
390,114 SF
Units:
173
Parking Spaces:
355
Site Condition:
New Construction
Construction Type:
High Rise
Rental Range (per unit):
$1,129 to $5,025
Occupancy At Opening:
96%
Contact:*
Katie Janik
Cost Statistics
Retail Tenants:
CVS
Great Wraps
Partner Information:
Architect: Hill & Frank, Inc
Developer: CA Ventures
Manager: CA Ventures
Equity: Diamond Realty Investment
Lender: Private Bank
Project Schedule
Entitlements Complete
Construction
Project Total
Total
$34,067,991
$44,169,375
Per Unit
$195,793
$253,847
Per Bed
$71,873
$93,184
Per SF
$87.33
$113.22
Amenities:
State -of -the -Art Fitness Center
Fire Pit
Study Rooms
Library
Recreation Room
Yoga Studio
Rooftop Pool
Hot Tub
Laundry Service
Grilling Area
Swim -Up Movie Projector
Retail Tenants:
CVS
Great Wraps
Partner Information:
Architect: Hill & Frank, Inc
Developer: CA Ventures
Manager: CA Ventures
Equity: Diamond Realty Investment
Lender: Private Bank
Project Schedule
Entitlements Complete
02/2012
Land Closing
05/2012
Permit Issuance
05/2012
Construction Start
05/2012
Occupancy
08/2013
*Contact Information Provided in Reference Section of Appendix
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
FINANCIAL CAPABILITY
8. A description of the proposer's financial capacity to obtain acquisition, construction and permanent financing, including
letters of interest from lenders and/or tax credit investors. A discussion of the financing sources and partnerships utilized
for prior projects and references from these parties are also welcomed and encouraged.
CA Ventures has operated and developed in over 20
markets nationwide, having raised more than $700
Million in debt and equity in multiple real estate
sectors. CA's financial investment has topped $2.0
Billion to -date resulting in the continued ability to
work with best -in -class investment and financing
firms to provide efficient equity and debt.
Since our start in 2004, CA has developed and
maintained a number of successful relationships with
financial sources. Below is a sample of our top capi'
sources and completed business through 2014.
Facility Contributors
1. RBS Citizens: $141,201,000
2. Private Bank: $124,052,000
3. Fifth Third Bank: $ 91,725,000
Capital Contributors
1. Harrison Street Real Estate: $88,277,000
2. Diamond Realty Investment: $50,006,000
3. Prudential: $30,150,000
1
ilk
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
FINANCIAL LETTER OF INTEREST
FIFTH THIRD
Rill sneakers
Senior Vice President
Commercial Real Estate
Fifth Third Bank
222 S. Riverside Plaza, 33rd Floor
Mail Drop GRVR38
Chicago, it 60606
TCL 3a 2.704.4104
.flfia...X.nSC@53com
July 14.2014
Thomas M. Scott
Chief Executive Officer
CA Ventures, LLC
161 N Clark Street Suite 4900
Chicago, IL 60601
Re: Letter of Reference for the Private Developer Proposal for Court Street and Linn Street
Redevelopment Site
Dear Tom
We understand that CA Ventures and CA Residential Holdings, LLC is in the process of submitting an RFP
response to The City of Iowa City in connection with the above noted redevelopment project in Iowa
City, Iowa. We understand that this letter has been requested to provide a reference for CA Ventures'
proposed participation in construction of the project and financial capacity to undertake a project of this
scale. CA Ventures has advised us that they will require construction debt financing for their
participation in project.
The project at the intersection of Court St and Linn St in Iowa City is anticipated to contain
approximately 117 hotel rooms, 304 apartments, 3,500 SF of retail space and 272 parking spaces. The
estimated total project costs for the development are $87,700,000. CA Ventures has requested a 65%
lean -to -cost construction loan, totaling $57,010,000.
We are pleased to confirm that CA Ventures has been a client of Fifth Third Bank on numerous real
estate development In of similar scope and size and the bank and relationship manager has a
continued active lending relationship with CA Ventures that dates back to 2007. Based un the
understanding of the proposed project, the experience of the CA Ventures team members, and the CA
Ventures track record we believe that CA Ventures is financially capable of undertaking the above noted
project.
Although we do look forward to learning more about this opportunity, this letter does not constitute a
commitment by the Rank and does not create any obligation on part of the Bank
We look forward to discussing this opportunity further with CA Ventures
Sincerely,
William C. Suenkens
Relationship Manager, SVP
Fifth Third Bank
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
CONSTRUCTION & FINANCING PLAN
9. A narrative describing the proposer's plan for construction and financing of the Project. This should include:
A. Organization and management approach to the Project:
As shown on the organization chart on page 6, CA Ventures will oversee the development, finance and management of
the project. This project has received interest from Fifth Third Bank, who has provided nearly $92 million in financing
on past CA projects. Beal Derkenne Construction, the proposed general contractor, is currently overseeing the con-
struction of 532 CA units in three different markets nationwide and has worked on seven different projects in Iowa
since 2010. HPA has worked with CA on three different projects totaling 305 units residential units. As a result of the
assembled teams' previous experience, CA is more than confident that this project would deliver on time at the highest
of quality.
B. General schedule for completion of the Project following property acquisition:
+ Entitlements Complete:
Q1 / 2015
+ Land Closing:
Q1 / 2015
+ Permit Issuance:
Q2 / 2015
+ Construction Start:
Q2 / 2015
+ Occupancy:
Q2 / 2016
C. Description of a general plan for construction loan and permanent financing, copies of any letters of intent from
prospective purchasers and/or tenants:
CA has already received multiple letters of interest from hotel franchises as well as financial institutions with regard to
this project. CA will also reach out to alternate financial institutions to ensure the success of funding the project.
D. Description of the marketing approach to secure purchasers or tenants:
As mentioned above, CA Ventures has received three letters of interest from Hyatt, Hilton and Aloft to franchise the
hotel. These recognized franchises will help Iowa City revitalize the upscale hotel market, making this project a more
viable option for visitors than the hotels located in Coralville.
CA Ventures' fully integrated management team collaboratively delivers a management system that targets resident
satisfaction, operating efficiencies and the property's long-term physical well-being. CA managed buildings serve as
an extension of the community. Between our on-site staff, corporate management and accounting departments, CA
Ventures' assets are supported by individuals dedicated to making each building a success.
CA engages an established broker that has local, regional and national relationships with retailers. CA identifies and
targets a mix of retailers that we believe will be an amenity for our residents and the surrounding community. While
rent and credit are important factors, the right retail mix and fit with the community is critical and something equally
as important as rent and credit. Through a developed marketing campaign and thoughtful design, CA is confident in
achieving a retail tenant that compliments both the project and the City.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
HOTEL'S LETTERS OF INTEREST
n HILTON
WORLDWIDE
July 8, 2014
Beth Hollenbeck
Hospitality Development Coordinator
CA Ventures, LLC
161 N Clark St., Suite 4900
Chicago, IL 60601
Susan Mmil n
Hilton Nodi
Sc Drectoq IleMelopment
755 C ossove, late
NatMvest R,,on
Memphis, IN 38117 USA
(Iowa, Kansas, Mlssom,
PH: 981-374-5958
MlnnaMa, Neb.ska,
FX: W1-374£388
Nat & South Dakop)
suszn.batliman@bllton.com
VIA E-MAIL
RE: Hilton Garden Inn Franchise Availability in Iowa City, IA
Dear Beth:
It was good talking to you last week; I am thrilled to hear you are working on the
possibility developing a Hilton Garden Inn Iowa City, IA. I believe a Hilton Garden Inn
would be a good ft in the market.
As of this date, please be advised that the Iowa City Downtown market is available for a
Hilton Garden Inn. As you know, it is the policy and practice of the company to enter into
license agreements for specific locations only after formal application for the franchise has
been received, processed and duly considered by our Development Committee. Once you
are in a position to file the formal application, we will be happy to process those
documents and should be able to give you a decision within approximately 120 days.
If you have any questions concerning any aspect of our franchising procedure, please feel
free to call me at 901-374-5958.
Thankyou for your continued interest in Hilton Worldwide.
Sincerely,
cASIRA—
Susan Bachman
Sr. Director - Development
Northwest Region
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, � GON RAD Hilton ®i Ucumn' i "Ofi swim® ... xlno�
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PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
HOTEL'S LETTER OF INTEREST
H�T
VIA EMAIL
July 6, 2014
Beth Hollenbeck
CA Ventures, LLC
161 N Clark St.. Suite 4900
Chicago, IL 60601
Email: bhollenbeck(oca-ventures.com
RE: proposed Hyatt Place—Iowa City, IA
Dear Beth,
Mark Younadam
Director of Development
71 S. Wacker Drive
Chicago, IL 60606
Tel: 312-780-6093
Thank you for your interest in proposing a new build Hyatt Place hotel located at Court
Street and Linn Street in Iowa City, Iowa. Given the project's mixed-use component,
including residential along with its location proximate to University of Iowa, University of
Iowa Hospitals and Clinics and area business, we would be excited to see you develop a
right sized Hyatt Place in this lodging market. We at Hyatt Hotels Corporation would also
look forward to working with you on your third Hyatt branded hotel.
As you know, Hyatt Place is a unique product that appeals to a variety of hotel guests
needs. Our larger rooms, contemporary design and 24-hour food service appeal to a variety
of travelers, from those on more traditional leisure or corporate trips, to those who may be
visiting area for social meeting functions. Although I strongly support this project, formal
approval would be subject to your submittal of a complete franchise application and our
subsequent internal review and approval process.
I look forward to exploring this exciting opportunity further with you.
Best Regards,
Mark Younadam
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
HOTEL'S LETTER OF INTEREST
61IDft
A VISION OF W HOTELS
VIA EMAIL
July 7, 2014
Beth Hollenbeck
CA Ventures, LLC
161 N Clark St., Suite 4900
Chicago, IL 60601
Re: Aloft, Iowa City, IA
Dear Beth:
starwood
tiolE�sar�
Resorts
Jamey Cua
SENIOR DIRECTOR, DEVELOPMENT
T6148953118 F6148951462
C 614 499 5051
E jantey cualssarmo4 hotels cont
5240 Spikerush court
Westerville, OH 43082
unnea sates
Thank you for your interest regarding the Aloft brand in Iowa City, IA (the "Hotel'), and your interest in the
possibility of having Starwood franchise the Hotel as an Aloft Hotel. Based on our understanding of the
market and your description of the Hotel project, we are pleased to express our interest in further evaluating
this opportunity.
Please note that this letter is only an expression of our interest to further evaluate this opportunity and does
not create any legally binding obligation on Starwood. You should not rely on this letter, or any further
discussions regarding this potential transaction as an agreement, offer or commitment by Starwood to enter
into any transaction with respect to the Hotel.
We look forward to continuing our discussions with you.
Sincerely,
Jamey Cua
Senior Director, Development
Starwood Hotels & Resorts Worldwide
cc: Allison Reid
MERIDIEN �hFt Int lif Lllti COI LNI'INN W[SFIN FOVRXG�NT$
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PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PURCHASE PRICE & BENEFIT FOR THE CITY
E. Proposed purchase price and the explanation of the purchase price for the Project property.
CA is willing to offer $5,000,000 ($83.33 per square foot) for the Court and Linn Street redevelopment. This resem-
bles 5.7% of the total project cost. While this may not be the highest purchase price offered, CA will be funding the
project without any financial assistance from the City, meaning Iowa City will receive the full tax increment and lodging
tax associated with the project. CA tax projections for the year one are displayed below:
i
ILExisting Tax Value
Lrojected Tax Value
Tax Increment
Combined Property Tax
$0.00
$1,592,341
$1,592,341
Portion Allocated to City
$0.00
$663,108
$663,108
Portion Allocated to Schools
$0.00
$543,948
$543,948
Sales Tax
$0.00
$8,192
$8,192
Lodging Tax
$0.00
$573,955
$573,955
Portion Allocated to City
$0.00
$334,807
$334,807
Total:
$0.00
$2,111,488
$2,111,488
Portion Allocated to City & School
$0.00
$1,541,864
$1,541,864
In addition to the tax generated, the construction is expected to directly generate 250 jobs based on CA's previous job
sites and the projected timeline. As a result of the completed redevelopment, the stabilized facilities onsite would gen-
erate approximately 50 permanent jobs ranging from hotel staff to residential building engineers.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PUBLIC FINANCING PARTICIPATION & PRO FORMA
10. Public financial participation is contemplated / requested, a narrative and information requested:
As previously mentioned, CA will not be seeking any financial assistance from the city. The below exhibit presents a
preliminary project building cost, preliminary pro forma and sources and uses of funds. CA can provide additional items
upon request.
rtal Departmental Expenses 970,983 1,007,874 1,046,183 1,085,963 1,127,273
1perating Expenses
Management Fee (4.0%)
Year 1
2016-17
Year 2
2017-18
Year 3
2018-19
Year 4
2019-20
Year 5
2020-21
perating Revenue
1,529,341
1,575,221
1,622,478
1,671,152
1,721,286
Residential Rental Revenue
6,606,452
6,804,646
7,008,785
7,219,048
7,435,620
Hotel Revenue
5,284,159
5,442,684
5,605,964
5,774,143
5,947,367
Retail Revenue ($25/SF)
90,819
93,544
96,350
99,241
102,218
rtal Operating Revenue
11,981,430
12,340,873
12,711,099
13,092,432
13,485,205
rtal Departmental Expenses 970,983 1,007,874 1,046,183 1,085,963 1,127,273
1perating Expenses
Management Fee (4.0%)
479,257
493,635
508,444
523,697
539,408
Property Taxes
1,529,341
1,575,221
1,622,478
1,671,152
1,721,286
Capital Reserve
287,366
287,366
287,366
287,366
287,366
Other Operating Expenses
2,318,194
2,387,740
2,510,115
2,637,683
2,716,813
otal Operating Expenses
4,614,158
4,743,962
4,928,403
5,119,898
5,264,874
)p Expense as % of Total Revenue
46.61%
46.61%
47.00%
47.40%
47.40%
Income
Sources & Uses
%
Residential SF
Common Equity
35.0%
30,694,513
Preferred Equity
0.0%
-
Senior Debt
65.0%
57,010,000
Total Sources
100.0%
87,704,513
Land Costs
5.7%
5,000,000
Hard Costs
75.3%
66,060,403
Soft Costs
19.0%
16,644,110
Total Uses
100.0%
87,704,513
SF Summary:
Residential SF
229,332
Commercial SF
3,500
Common Area SF
75,878
Hotel SF
42,300
Parking SF
126,925
Total SF
477,935
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
11. A visual description of the proposed Project.
The Iowa City Downtown & Riverfront Crossings Master Plan offers the best local example of modern urban develop-
ment guidelines. All aspects of the suggested pedestrian -oriented elements, park -like open / green space, streetscape-
and careful management of public and private spaces apply directly to the proposed RFP site at Court and Linn.
Immediately adjacent to the subject property, Linn Street Place is a modern, quality mixed-use development that pro-
vides necessary community uses. The buildings activate the streetscape with retail and landscape elements; however,
by occupying full blocks, they inherently limit the physical connection between downtown and the Court/Linn site.
The proposed design consists of a mixed-use program, which includes three independent high-rise structures above a
concealed 3 -story podium parking structure. Hotel, retail, residential and (flex) office space are included among these
uses. Our redevelopment proposal aims to respond to all immediate and intermediate contextual conditions in conjunc-
tion with meeting Iowa City's following goals for the project.
Aerial Perspective
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Site Plan
11
_RETAIL EXTERIOR fAFE
t-
•LANO'SCAPEdAAEA I 2
F7AGRADE
b4 PAAKAMENITY j 3
F y
AUTO C�UAi
GARAGE ENTRY
HOTEL F > BELOW
1 6,770 SFIFLOOA b Q
RESIDENTIAL
ENTRY
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z
RESIDENTIAL a ` RESIDENTIAL
+ L 8,800 SFIFLOOA i' 11 +1.12,200 SFIFLOOA
1
�r
POOL I AMENITY
DECK �!
1507-8 PL. — —
E. COURT ST
NJ WAAYTRAIIIC
E. HARRISON ST.
TEND WAY TRAFFIC
GARAGE ENTRY
BELOW
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Typical Floor Plan with Unit Sizes
1
AODM 141 ROOM 01
OBE OREEN II -1 KING
1 NAB MO o2
KING
X ELEC 1 ROOM 03
KING
X ICE ROOM 04
KING
ROOM 13 1 1 AOOM 05
OBE GREEN I 1 KING
ROOM 1211 11 AODM Ofi
OBE GREEN I KING
1 11 ROOM 07
AOOM111 KING
DBLOOEENI h----
AOOMUB
KIN
- --� 11 KING
AODM 101
OBE GREEN I 11 ROOM 09
o 1 IDUE GREEN
UNIT 01
2BED
8505E
UNIT 10 1 UNIT 02
2 -BED 1 1 1 -BED
8505E 11 1 5505E
I �
UNIT 09 11 1 UNIT 03
1 BED 1 1 2BED
5505E 11 8505E
ONIT 08 1 r-
1 BED 1
5505E 11 ONIT 04
� 1 2BED
UNIT 07 1 11 8505E
1 BED 1
5505E 11
1 ONIT 05
UNIT 06 1 11 2BED
1 BED `I' 9555E
670 BE I
150.57' P.L.
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111
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UNIT 13
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n
1 BED
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ONIT 11
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8505E
UNIT 11 11 11 UNIT 03
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8505E 1 1 5505E
- - - ONIT 04
BED
UNIT 11 1 550 SF
2 -BER
850 BE 1
11 UNIT 05
- - _I 1 2 -BED
UNIT 12 1 1 850 SE
1 BED 1
5505E 1
FX
UNIT07 1 1
2 -BED 11 UNIT 06
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l925 BE
Im
�
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Typical Parking Level Plan
E. COURT ST
NJ WAAVTRAIIIO
�150.57'P.L �
UNEXCAVATED
m
d
FrDTEE
TYPICAL GARAGE FLOOR o-
1100 PARKING SPACES ['
I
�EA
Ls. CRE
TxTE
15078'P.L.
602 GARAGE
ENTRY
�B 03 GARAGE
ENTRY IBELDVVI
E. COURT ST
NJOWAVTRAIIIO
E. HARRISON ST.
MOWAVTRAIIIL
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Plan Perspective Illustrating Open Space
Encourage an urban, walkable neighborhood:
+The adjacent buildings to the north crowd the
north end of the Court/Linn site. In response,
our proposed hotel structure extends to reach
the north setback and define the streetscape,
while the remainder of the site density recesses
to invite pedestrian activity and the creation of
park -like open/green space.
+ A small retail zone is planned at the front of
the hotel building, enhancing this pedestrian
open space and drawing the public realm into
the site.
+ The public realm dissolves as it extends south,
transitioning to a semi-public landscape plaza
that extends the notion of streetscape into the
neighborhood, despite the adjacent S Linn Street
grade level dropping in elevation.
+ Although proposed as a fully developed site,
the central landscape plaza provides pedestrian
access across its full length and width.
+ The contrast of streetscape vs. central park
space allows for a duality in the fapade design
of the buildings. The urban street grid will be
maintained at the exterior side, while elevations
facing the courtyard will soften in comparison
with subtle fapade relief and material/color
changes. Visually, the treatment at the courtyard
side will flow toward and wrap the Court Street
fapade, accentuating the site design concepts
and establishing pedestrian scale within the
streetscape.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Consider a variety of uses for the Project:
+ The mixed-use nature of the program enhances the urban characteristics of the site and proposed design.
+The site is in an optimal location for hotel and residential development, given the edge condition to the downtown
and Riverfront Crossings neighborhood, and proximity to the University of Iowa campus.
+ Portions of Levels 1 & 2 of the East and West residential buildings are proposed as alternate "flex" office spaces,
proposed to be connected by a transparent pedestrian bridge. Beneath this connector, a transparent security screen
separates the semi-public landscape court from the private residential amenity deck to the south.
Programmatic Section Diagram
15
12
RESIDE NTIALTONER BEYOND
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL HOTEL BEYOND
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL
RESIDENTIAL
ID
RESIDENTIAL
12
RESIDENTIAL
RESIDENTIAL
HOTEL AM ENl1Y
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
RESIDENTIAL
HOTEL
LOBBY
R[34ILi HOTELI➢B
--RmPARKING 30100 ssF, . 72 SPACES
RD2PARKING 45,3]0EST, . 100 SPACES
RDS PARKING 43, 355 DOE,.L 100 SPACES
5
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Aerial Perspective Looking Northwest
Aerial Perspective Looking Southwest
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PROJECT DETAILS & DESIGN
Street Level Perspective Looking South From Court Street
Aerial Perspective at South End of residential Amenity Deck
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
SUSTAINABILITY
12. A description of the energy efficiency of the building, including anticipated efficiency above the base standard, and a
description of sustainability features proposed to be included.
CA has also taken careful consideration into constructing an environmentally friendly project. The project will utilize cer-
tain LEED practices featuring Energy Star appliances and energy saving fixtures. The use of both sustainable and locally
produced material reduces the carbon footprint associated with the project while boosting the City's economy. Lastly, the
residential parking ratio meets the zoning requirements (0.5 space per 1 bedroom unit and 1 space per 2 bedroom unit)
with an additional 25 spaces designated for the hotel and retail. This low parking ratio count encourages pedestrian mobil-
ity and public corporation.
MASTER PLAN OBJECTIVES
CA has planned the project with careful consideration to both the Riverfront Crossings District and the South Downtown
Subdistrict's master plan objectives. The construction of CA's project fulfills these objectives of the District: to improve the
quality of residential options and serve as an extension of the downtown area. The combination of hospitality, residential
and retail use presents a diverse mix as proposed by the South Downtown Subdistrict master plan objectives. The retail
space, located at a key corner within the district, will serve as an additional amenity for residential tenants with the poten-
tial to provide everyday necessities without the inconvenience of using a vehicle.
EXHIBIT "B"
LISTING OF LAWSUITS OR LITIGATION WITHIN
Lawsuit or Litigation: CA Ventures' principals, development entities or members of the development team have never been
charged with or convicted of a felony nor have any of these members been involved in a litigation within the last five years.
Status or Outcome: N/A
Comments: None.
APPENDIX
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
CA VENTURES INFRASTRUCTURE
CA's robust infrastructure marries centralized systems and management expertise with localized operational expertise. CA
has a dedicated and skilled management team with significant experience in financing, acquiring, developing and manag-
ing real estate properties. The management team combines comprehensive real estate knowledge with local experience anc
a proven track record. CA is committed to providing high-quality projects that exceed expectations of residents, community
and other project stakeholders. The ability to target the right opportunities and maximize stakeholder investment through a
comprehensive property management and leasing plan distinguishes CA from other owners, operators and developers.
CA INVESTMENT
MANAGEMENT
+ Investment management
+ Asset management
+ Acquisitions and
developments sourcing
+ Debt and equity structuring
CA Ventures
CA DEVELOPMENT
MANAGEMENT
+ Entitlement process management
+A/E qualification and selection
+ Design development and permitting
+Construction management
+ Interior design and finish selections
+ Project scheduling and budgeting
CA PROPERTY
MANAGEMENT
+Operations management
+ Marketing and leasing
+ Accounting services
+ Human resources and staff training
+Tenant management
2004 CA Ventures Growth Present
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
TEAM BIOS
Thomas Scoff I CA Ventures I Chief Executive Officer 1 312 994 0874 1 tscott@ca-ventures.com
Thomas Scoff, founder and Chief Executive Officer of CA Ventures. A business strategist at heart, Mr. Scott applies his
uncanny ability to spot accretive opportunities and to translate them into results for investors. Mr. Scott is recognized
for his astute financial acumen, market insight, and extensive understanding of real estate investment, development and
management.
Brian Morrissey I CA Ventures I Chief Financial Officer 1 312 994 0872 1 bmorrissey@ca-ventures.com
Brian Morrissey, Chief Financial Officer for CA Ventures, oversees CA's financial operations focusing on all analysis,
reporting, and operating reporting. He also works with CA's property and development teams to maximize each projects'
operating and financial returns to the investor community.
John Dempsey I CA Ventures I Chief Operating Officer 1 312 239 1899 1 jdempsey@ca-ventures.com
John Dempsey, Chief Operating Officer of CA Ventures and Principal of CA Office, is responsible for overseeing CA Ventures'
daily operations and resource management, driving performance measurements, and ensuring maximum investor return
through select development endeavors and/or strategically repositioning non-traditional and/or under-utilized assets.
J.J. Smith I CA Ventures I Chief Development Officer 1 312 994 1882 1 jjsmith@ca-ventures.com
J.J. Smith, Principal of CA Ventures, oversees all development and acquisition activities. He creates and maintains project
budgets and schedules; performs site acquisition land assemblage; performs deal creation, entitlement, financial feasibility,
due diligence, building design, construction contract procurement, lease negotiations, and program implementation.
John Diedrich I CA Ventures I Vice President of Investments 1 312 994 1884 1 jdiedrich@ca-ventures.com
John Diedrich, Vice President of Investments of CA Ventures, is in charge of investment oversight as well as the analyst
and research groups. He is responsible for the oversight of CA's acquisition and development analytic process related
to new deals as well as valuations and mark -to -market of CA's existing portfolio and providing our investors with regular
updates on their investments.
Dan Hrankowsky I CA Student Living I Director of Design 1 312 994 1874 1 dhrankowsky@ca-ventures.com
Dan Hrankowsky, Director of Design, oversees CA Ventures' development management group, guiding construction
projects from concept through completion.
John Druffel I CA Student Living I Executive Vice President 1 312 239 1898 1 jdruffel@ca-ventures.com
John Druffel, Executive Vice President, oversees development, acquisition and management of high-quality student
housing assets in select U.S. markets. He also specializes in energy, with specific expertise in MEP design, energy
efficiency, building operation and automation systems, and integrated controls.
"lichael Yeagle ICA Student Living I Executive Vice President 1 312 994 1866 1 myeagle@ca-ventures.com
. hael Yeagle, Executive Vice President of Leasing and Marketing of CA Student Living, works closely with
v the development team to conceive a competitive product through unit mix, amenity offerings, building features,
and leasing promotions. He develops and implements comprehensive strategic property marketing programs through
market analysis, brand management, leasing, marketing, and staffing oversight.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
HARTSHORNE PLUNKARD ARCHITECTURE
Founded in 1987, Hartshorne Plunkard Architecture is an award
winning, full service architecture, interior and planning design
firm located in Chicago's Fulton Market District. Leaders in new
construction, historic preservation, green/sustainable, mixed-use
and renovation projects, HPA design interpretations transform
the way we live, work and interact with each other.
The Hartshorne Plunkard design team is comprised of talent-
ed, experienced and progressive architects and designers who
thrive on each challenge presented. They utilize a single -studio
approach that fosters creativity and cumulative, effective design
strategies. They are like-minded problem solvers, innovators and
partners throughout the building process.
HPA's design approach involves a creative response to the unique
attributes of each project. They have a proven track record of
successfully meeting their client's budgetary and schedule
requirements, as well as effective administration of the process.
The result of their approach is a seamless delivery of beauti-
ful, sustainable and creative design solutions. As part of their
practice and mission, they consider not only the aesthetics of a
project but also how they designs impact the environment, and
they utilize renewable resources whenever possible.
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
BEAL DERKENNE BIO
Beal Derkenne Construction (BDC) was established in
2010 and has quickly emerged as a preferred Con-
tracting partner across numerous product types and
marketplaces.
Lean in size, heavy in experience - their skillsets,
drive and passion for what they do are the essentials
that set them apart in the market. Headquartered in
Des Moines, Iowa, BDC's operations extend to Arizo-
na. Nebraska and Missouri.
In a short period, the company has successfully
executed close to 1,000,000 SF in projects, with
another 650,000 SF currently under construction.
BDC's position in the market is unique, having the
size, structure and experience to be competitive on
projects of all sizes.
BDC is redefining the traditional roles and expecta-
tions of project execution. They talk a different talk
and actively steer the focus of all parties towards
timely fruition. Their existing relationships, experi-
ence and entrepreneurial skill sets continue to trans-
late into project opportunities and successes.
BDC's primary focus is to offer an unparalleled build-
ing and development experience for our clients.
A wealth of construction knowledge and a proven
track record of project delivery success, complements
their mission to create an experience for their clients
that is above and beyond the standard.
o 4E
— -'C'.1 1
F".
PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE
HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT
PARTNER CONTACT INFO & REFERENCES
HPA Contact:
James M. Plunkard, Hartshorne Plunkard Architecture, 323 N Carpenter St., Chicago, IL 60607
jplunkard@hparchitecture.com, 312-226-4488
BDC Contact:
Andrew Beal, Beal Derkenne Construction, LLC, 506 3rd St., Suite 300, Des Moines, IA 50309, 515-650-7807
Fifth Third Bank Contact:
Bill Suenkens, Fifth Third Bank, Commercial Real Estate, 222 S. Riverside Plaza 33rd Floor, Mail Drop GRVR3B,
Chicago, IL 60606, william.suenkens@53.com, 312-704-4104
References:
1. Bill Suenkens, Fifth Third Bank, Commercial Real Estate, 222 S. Riverside Plaza 33rd Floor, Mail Drop GRVR3B,
Chicago, IL 60606, william.suenkens@53.com, 312-704-4104
2. Katie Janik, Private Bank, 120 LaSalle St., Chicago, IL 60603, kjanik@theprivatebank.com, 312-564-1284
3. Elizabeth Hozian, BMO Harris Bank, 111 W. Monroe St. / 115 S. LaSalle St., 5th Floor East, Chicago, IL 60603,
Elizabeth.Hozian@bmo.com, 312-461-7984
4. Robert P. Mathias, Harrison Street Real Estate Capital, 71 S. Wacker Drive Suite 3575, Chicago, IL 60606,
RMathias@harrisonst.com, 312-920-1852
5. Craig Przygoda, Associated Bank, 525 W. Monroe St. Suite 2400, Chicago, IL 60661,
Craig.Przygoda@AssociatedBank.com, 312-544-4637
STUDENT
L4 A
IVING
Private Developer
Proposal for the
Court St. / Linn St.
Redevelopment Site
HOSPITALITY, RESIDENTIAL &
RETAIL MIXED-USE
JJ Smith, Chief Development Officer
312 994 1882
jjsmith@ca-ventures.com
John Diedrich, VP of Investments
312 994 1882
jdiedrich@ca-ventures.com
CA Ventures 1 161 N Clark I Suite 4900 1 Chicago, IL 60601