The Project Company, Fifth & Columbia Investors, LLC, is a Delaware limited liability company owned by DRE and Stockbridge, which acquired the building and land on which the Project will be developed. The Project Company has also assembled an internationally-recognized team of master planning, architectural, landscape design, engineering, financial and construction professionals to develop the Project.
Daniels Real Estate, LLC (“DRE”) is a local Seattle based organization that was formed in January 2007 to carry forward the long and successful development history of its sister company, Nitze-Stagen & Co., Inc.
With the same experienced development team in place (with each senior team member having over 25 years of experience), the company’s mission continues to be to develop complex and challenging dense urban commercial real estate projects that make significant impacts on the communities they are located in and generate exceptional returns on those investments.
With decades of combining community participation, advancing sustainable practices (well before it became fashionable), complex urban core transit oriented developments, and historic preservation, the company’s development team has earned its reputation as leaders in their industry.
Past award winning projects by the development team include the restoration of Union Station, as well as the 1.1 million square foot transit oriented office development located adjacent to the station, and the rehabilitation and re-positioning of the former Sears NW catalog distribution center to become Starbucks Center, the global headquarters of Starbucks Coffee Company. Currently the company has recently completed entitlements for two large commercial real estate projects in Seattle. The first is a 43 story Class A office high-rise tower in Seattle’s CBD (Fifth + Columbia project), and the second is the largest transit oriented development on the West Coast located immediately adjacent to the region’s transit hub at King Street Station (Stadium Place project).
The company also provides project, construction and property management for its projects. Since its inception, Daniels has created projects of the highest quality, aesthetic relevance and enduring value for its partners and the Seattle community. The Daniels company’s philosophy is to work with local architects and engineers to create projects that endure the test of time and provide an exceptional addition to the city’s skyline, reflecting not only the company’s commitment to excellence, but also meeting the hopes and desires of the local community. Real estate is a local business where developers from outside an area cannot provide the same values and experience to a project. See further background information on our management team under the Who We Are menu.
The Project also has a strong investment manager in Stockbridge, a real estate investment manager and registered investment advisor with approximately US$5.2 billion of real estate assets under management throughout the United States. Founded in 2003, Stockbridge is a real estate investment management firm and registered investment advisor. The firm and its affiliated advisor, Stockbridge Capital, manage both commingled funds and separate accounts and provide strategic advisory services. Stockbridge has approximately $5.2 billion of assets under management (as of September 30, 2012) throughout the United States and manages more than 30 million square feet of commercial property. Stockbridge's senior management team has an average of 25 years of real estate industry experience and has collectively invested over US$50.0 billion in more than 500 real estate and capital markets transactions. Stockbridge has a presence in almost all major U.S. markets and currently has offices and personnel in San Francisco, New York, Chicago and Atlanta.
Founded in 2002, Los Angeles-based SBE brings exquisite balance to the interrelated worlds of hospitality, real estate development, and events. SBE is a privately-held company founded and helmed by CEO Sam Nazarian that acquires, develops and manages exceptional projects through its specialized operating divisions – Hotels, Restaurants, Nightlife, Real Estate and Events. The industries gathered under the SBE umbrella create opportunities for synergy and branded, all-encompassing lifestyle experiences.
With a mission to redefine standards of excellence and innovation, Nazarian and his team draw on a wealth of institutional expertise and entrepreneurial know-how to create unique alliances between these divisions, providing a complete lifestyle experience for SBE clients, whether they are staying in SBE properties or enjoying SBE restaurants and nightclubs.
SBE has also harnessed the creativity and innovation of some of the best minds in the business, including design visionary Philippe Starck, with whom SBE has an exclusive agreement to design hotels, restaurants and lounges in the U.S., Canada, the Caribbean, and Mexico. The results are quality products rich in detail and originality, each created for a discriminating and diverse clientele.
SBE is the largest west coast lifestyle food, beverage and nightlife operator and currently has 51 open assets plus 25 in development nationally (including wholly owned, joint venture, managed and licensed locations). SBE has operations and projects under development across five states, over 120 corporate employees, and 3,000 total employees.
SBE is positioned to materially increase its footprint prior to the opening of the SLS Seattle, which should benefit the Project. At present, SBE’s corporate employees are solely focused on expanding SBE’s footprint and geographic diversification.
SBE is expanding its presence most rapidly in Seattle’s primary feeder markets, including Los Angeles, San Francisco, San Diego, New York, Boston, Chicago, and other major cities. SBE’s presence in these markets will allow it to continue to develop its database and continue to establish brand loyalty among its customers prior to the opening of SLS Seattle. As of Q3 2012, SBE has 1.8 million active accounts within its database; showing growth of over 300% in within the current year.
Helping to further drive this brand loyalty will be the SLS South Beach / Miami, which opened in May 2012, and the SLS New York, for which SBE has signed a long-term management agreement and expects to open in April 2013.