P      I      N      D      Ʌ      R

 Role:  Development Manager(2) 

 Outcome:  Investment Realization above Plan, ahead of Schedule.

ThereTM

   2004

Type:  Mid-Rise Infill Condominium

           New Construction

Cost:  $48,000,000(1) 

Status:  Completed 2006

Of Note:

• Former Pitts Motor Hotel & Red Carpet Lounge site; a premier venue for entertainers on U Street - the "Black Broadway".  After falling on hard times it  deteriorated into a "welfare hotel" before closing.
  
• D.C. Police Officers hugged the developers at demolition for removing the nuisance.
  

Recognition:

• Monument Award:      Innovative Infill Land Plan

    "BEST ROOFTOP IN D.C."

                                                                                Washington Post

  Details

• 103 traditional condominium homes
  
•  Expansive rooftop terrace and rare urban courtyard 
  
•  Two levels of below grade parking
  

     Investment Overview

• Sponsor GP Investment
  
• Land Owner Joint Venture
  
• Family Office LP Investment
  
• Commercial Debt (Money Center Bank)
  

     Neighborhood:  U Street  

• Entry:  Boarded up former "Welfare Hotel" owned by speculative investor contributed into Project JV.    
  
• Impact:  "Point of Light" in early stages of U Street renaissance.
  
• Legacy:  Stage II >> Stage IV neighborhood transformation. 
  
• Nine other projects within two block radius occurred duringsame period.  
  

 fedora condominium

   Washington, D.C. (U Street)

 Solea condominium

    Washington, D.C. (U Street)

"The clothes that I design and everything I've done is

  about life and how people live and how they want to live

  and how they dream they'll live. That's what I do."

                                                                          - Ralph Lauren 

ThereTM

   2009

All Information at time of completion/opening/repositioning or realization of Asset/Investment. (1)  All Cost/Value references are in year completed adjusted to 2014 by CPI index.  (2)  Projects/Investments referenced are PINDAR or involved PINDAR key personnel as Principal/Project Executive or Project Manager at a previous company.   

 Role:  Sponsor/Development Manager(2) 

 Outcome:  Sold out within six months of completion.

Type:  Mid-Rise, Mixed-Use,

            Mixed-Income, Condominium

Cost:  $23,000,000(1) 

Status:  Completed 2009

Of Note:

• Public/Private Partnership       with District of Columbia awarded via RFP Process.
  
• LEED ND Pilot Project
  
• 20% of space designed as Live/Work for microbusinesses  & start-ups. 
  
• 35% of condos reserved for moderate income households.
  
• Moderate Income condos awarded by lottery.
  
• Down payment assistance         for moderate income condos provided by D.C. Housing Production Trust Fund. 
  
• Greater Washington Sports Alliance HQ is 'marquee' ground floor business.  
  

Recognition:

• BUILDER Magazine,              Builder's Choice Awards,    Award of Merit:                           Live/Work Project
  

Type:

Details

• 59 "Urban Modern" style Condominiums
  
• Three Live/Work Condominiums on ground floor
  
• Two level below grade parking
  

Investment Overview

• Sponsor GP Investment
  
• Pension Fund GP Investment
  
• Public-Private Partnership with District of Columbia                                          (Property Tax Foreclosure Land Sale Contribution)
  
• Commercial Debt (Money Center Bank)
  

Neighborhood:  U Street

• Entry: Fenced off site owned by District of Columbia; acquired through property tax foreclosure sale. 
  
• Impact:  "Point of Light" in early stages of U Street renaissance.  
  
• Legacy:  Stage II >> Stage IV neighborhood transformation.  Three other projects on same street, four other projects within one block radius also developed near same time.
  

                                                                                                                                                                                           BUILDER Magazine

The Bank Lofts

Denver, CO