LOS ANGELES-Urban Partners LLC, Harbor Urban LLC, and Mack Real Estate Group, three full service real estate firms known for high quality urban infill development, have formed Mack Urban LLC. The new real estate investment and development company will have a focus on urban multifamily development on the West Coast, particularly the Pacific Northwest and Southern California regions.
Headquartered here in L.A., with offices in Seattle, Mack Urban is led by CEO Paul Keller, president and CIO Matthew Burton, and managing directors Jim Atkins and John Gunn.
The principals of all the partner companies share a vision for long-term investment, development, and advisory services in the West Coast gateway cities markets that have demonstrated strong demographic and economic growth. The new firm combines the existing portfolios of Urban Partners and Harbor Urban in Los Angeles, Portland and Seattle, where a majority of active projects, more than 3,500 units, are currently in planning, under construction, or in lease-up.
The new company will seek flexible capital for projects on a transaction-by-transaction basis, and present focused fundamental, detailed development and investment opportunities for institutional and other investment partners. The goal is to offer “exciting new opportunities for investors to partner in the development and long-term ownership in Mack Urban's unique niche, which is focused on community-enhancing properties in thriving, urbanizing, and forward-looking West Coast cities.”
According to Keller, “We are combining our strengths to allow us to expand significantly, after 15 years of successful joint development and investment projects with the Mack Family. The long standing relationships of all the principals for Mack Urban combines Urban's track record of distinctive expertise in urban infill projects with the Mack group's unmatched real estate knowledge and global capital markets relationships.”
Mack Real Estate Group is the current real estate investment enterprise of the Mack Family. In addition to its financial investment in Mack Urban, Mack Real Estate Group will play a hands-on role by providing strategic advice, counsel, and expertise as well as access to institutional investors. “Mack Urban is well-positioned to be an enduring owner of superior properties in key cities along the West Coast and in the Pacific Northwest,” says Richard Mack, CEO of Mack Real Estate Group.
“Mack Real Estate Group's overall approach is to accumulate significant long-term real estate holdings in markets that demonstrate lasting positive demographic and economic trends that drive demand for real estate,” says Mack.
Burton adds that “The Mack name represents long-term family office ownership, while the Urban brand denotes the best-in-class West Coast development platform, and we believe this combination has unmatched potential to develop a stellar portfolio. In the Pacific Northwest it is a logical succession of what the Bullitt family started generations ago. Harbor Properties, our Seattle subsidiary, is returning to its roots of long-term family ownership that allows it to maintain deep ties to the community it serves.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
