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Grosvenor Ramps Up Mixed Use Development

WASHINGTON, DC-New local hires for the international firm plan to focus on deals in the $60 to $100 million range.

By Erika Morphy | Updated on November 01, 2006

WASHINGTON, DC-International property and fund manager company Grosvenor began eyeing the urban and inner suburban mixed-use retail asset class a few years ago. At that time it identified Los Angeles, San Francisco, Chicago and Washington, DC as key markets in which to develop and/or invest. New hires in the local office are attempting to kick that strategy into high gear here.

D.J. Sworobuk was appointed senior asset manager to oversee the expansion of the firm’s DC retail and mixed-use portfolio. Dale Nelson, senior development director, joined in July and Mark Darley, senior vice president of development, transferred from the firm’s San Francisco office to head operations here.

Specifically, Grosvenor is looking for opportunities in development and investment of class A mixed-use retail and residential, with an emphasis on multifamily as opposed to condo development, Sworobuk tells GlobeSt.com. Right now the firm has one project in the pipeline which Sworobuk will not discuss other than to say it is a local project of a substantial amount that will be announced no later than Q1, possibly sooner.

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