P      I      N      D      Ʌ      R


 Role:  Sponsor/Development Manager 

 Outcome:  Investment Realization impacted by Master Development delays

ThereTM

   1999

Type:  Low & Mid-rise Townhouse & 

            Flats style condominiums.

           New Construction


Cost:  $34,300,000(1) 


Status:  Completed 2001


Of Note:

  • The community is one component of a Pindar predecessor led master plan for a 24 acre town center area created from the historic core of Lowry Field.   
  • That effort included the creation of a historic district, adaptive reuse of existing buildings and sympathetic new construction interspersed throughout the historic core.
  • This community sits on what was the historic parade grounds from Lowry Field's active use during World War II and is adjacent to the original, historic officers' housing district.    


Recognition:

  • Best Example of Successful New Urbanism.           Westword Magazine             Best of Denver Awards 2002


Details

  • 108 loft & flats style condominium homes
  • 13 Building Lowry Town Center centerpiece
  • "Loft Style" Living with two level vaulted & open floor plans 
  • Private rooftop decks and courtyards
  • Detached garages 
  • Below grade direct entry parking


Investment Overview

  • Sponsor GP Investment
  • Mezzanine Debt (Local Private Equity)
  • Acquisition/Construction Loan (Local office of  Money Center Bank)
  • General Contractor partial fee subordination

Neighborhood:  Lowry Field

  • Entry: 'Ghost Town' heart of decommissioned military base.
  • Impact:  Lowry Town Center is the heart and soul of the redeveloped Lowry Field.  
  • Legacy:  No Stage >> Stage IV neighborhood transformation
"I LOVE THE IDEA THAT LOWRY TOWN CENTER EXISTS" 

                                                                                                                                                             Visitor Facebook comment

 officers' row                        smart growth condo

   Denver, CO (Lowry Field)

 Tuscany apartments          smart growth rental

    Alexandria, VA (Landmark)

"A building has integrity just like a man.

  And just as seldom."

                                                    - Ayn Rand

ThereTM

   2004

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:  Development Manager 

 Outcome:  Investment Realization at Plan & Schedule.

Type:  Boutique, Midrise

            Luxury Rental Community

           New Construction


Cost:  $36,300,000(1) 


Status:  Completed 2007


Of Note:

  • The site is a commuter hub in the heavily travelled I-395 corridor of Northern Virginia. 
  • Metro, retail and bus service are all in immediate proximity. 
  • The site is an infill pad on an incomplete, 70's era multi high rise cluster community - reimagined as a more "human scale" walkable environment. 
  • To accommodate the project a storm water detention pond was repositioned underground  and structured parking installed above.   
  • As part of the Investment Thesis the community was programmed and finished to accommodate a future condo conversion.


Recognition:

  • 2008 NVBIA Monument Awards Award of Merit


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Details

  • 104 luxury rental apartments
  • Below grade parking garage as well as private garages


Investment Overview

  • Sponsor GP Investment
  • Land Seller Joint Venture (Partial Land Contribution)
  • Family Office GP Investment
  • Uncovered Acquisition and Construction Loan (Regional Bank)
  • Mini-Perm @ Stabilized Occupancy (Life Company


Neighborhood:  Landmark

  • Entry: Non-descript Edge City area with high density, tired apartment communities.  
  • Impact:  Pioneered urban planning and design standards into Edge City format, raising the bar for subsequent later projects.   
  • Legacy:  Stage III point of light.


Investment Overview

 "BEST VALUE FOR YOUR MONEY IN AN APARTMENT,  I LOOK

                 FORWARD TO MANY MORE YEARS TO COME. "  
                                                                                                                                                                   Resident review


The Bank Lofts

Denver, CO