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Maguire Exec, J.H. Snyder Launch New Venture

LOS ANGELES-Veteran broker Drew Planting leaves post at MaguirePartners to form partnership with locally based development giant J.H. Snyder Co. The venture starts with $50 million to invest in properties with redevelopment or repositioning potential.

By David W. Myers | Updated on August 15, 2001

LOS ANGELES-A new venture started by prominent local developer J.H. Snyder & Co. and a former partner at MaguirePartners intends to use its initial $50 million in funding to acquire properties in coastal areas that have redevelopment potential, the partners say.

The new venture, Snyder Partners, was announced yesterday. It unites J.H. Snyder, whose high-profile projects include the 1.26-million sf Water Garden office campus in Santa Monica, with veteran broker and former MaguirePartners executive Drew Planting.

Planting, who most recently was marketing MaguirePartners’ interests in the Westside’s Playa Vista development, worked with J.H. Snyder several times in the past. He says he approached the company, headed by multimillionaire builder Jerry Snyder, largely because there are several promising projects available today and the recent softening in real estate prices has made potential acquisitions more affordable.

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