Mass Equities and AECOM Capital will collaborate on
transforming a former industrial property into an innovative,
mixed-use community in River North Art District
AECOM Hunt, in partnership with Denver-based MPC, to provide
construction management
Mass Equities, Inc. (MEQ), a private equity real estate
investment firm based in Santa Monica, California, and AECOM
Capital, the investment arm of AECOM (NYSE:ACM), announce a new
partnership for the development of MEQ’s prominent 2017 property
acquisition in Denver’s emerging River North (RiNo) Art District.
The 7.8-acre site will be home to a Class A mixed-use development
that reimagines an existing structure in combination with
approximately 522,000 square feet of new construction that will
both enhance and blend with the future growth of the
neighborhood.
“We are pleased that AECOM Capital has joined us on this
exciting project, demonstrating the significance of this
development and the importance of RiNo in the overall Denver
community,” said MEQ Founder Andrew (Drew) Sobel. “We look forward
to a collaboration that will benefit from AECOM’s depth of
knowledge, experience and global network of experts, to augment and
inspire the outstanding MEQ team to accomplish a new kind of
mixed-use development that will resonate in tune with RiNo’s
dynamism,” he added.
“We are excited to bring a full suite of services to bear on
this project, leveraging both AECOM’s established construction
expertise and AECOM Capital’s design and development experience,”
said Michael S. Burke, AECOM’s chairman and chief executive
officer. “We are firm believers in Denver’s tremendous market
potential given the city’s substantial and diverse growth in
employment, and its booming millennial population. We look forward
to partnering with MEQ to bring its incredible vision to life in
RiNo.”
The dramatic transformation of this underutilized industrial
property will be the largest to date in the rapidly evolving RiNo
district submarket. The US$200+ million first phase of the project
will include the repositioning of the existing 62,000-square-foot
building located at 3060 Brighton Boulevard into a state-of-the-art
creative office building, taking advantage of the soaring and
dramatic ceiling heights and open space already existing in the
building. In addition, and as part of the initial plan, MEQ and
AECOM Capital expect to develop approximately 480 apartment units,
approximately 64,000 square feet of new creative office space, and
over 33,000 square feet of much-needed retail space in the
otherwise retail-starved RiNo area along Brighton.
Led by Mr. Sobel and AECOM Capital Managing Director Ted Fentin,
the RiNo development is the first joint MEQ and AECOM Capital
project. AECOM will also serve as construction manager on the
project through its AECOM Hunt business, in partnership with
Denver-based Martines Palmeiro Construction (MPC). The value of the
contract is expected to be included in AECOM’s backlog for its
second quarter of fiscal year 2018.
With its artistic roots, and proximity to lower downtown and
greater downtown Denver, RiNo is a truly unique neighborhood
lending itself to MEQ’s vision of a carefully curated community
filled with “passion, personalities and purpose.” The RiNo Art
District started as a grassroots movement by local artists who
wanted to connect the arts organizations in the area in a
distinctive area of north Denver that includes four historical
neighborhoods: Globeville, Elyria-Swansea, Five Points and Cole.
The neighborhoods’ rapid growth has led to the creation of the
Business Improvement District (BID) and General Improvement
District (GID) to help local area merchants and residents.
“Across the country, neighborhoods that are undergoing
gentrification have encountered various challenges. MEQ and AECOM
have intelligently planned to address every aspect of the project
and its interactions with the RiNo environment,” said Mr. Sobel.
“We are confident that this exciting project will succeed on its
own merits and will enhance the living fabric of this Art
District,” he added.
About Mass Equities
Mass Equities (MEQ) is a fast-growing, private equity real
estate investment firm that creates value across a broad spectrum
of diverse real estate asset classes and markets in the Western
U.S. MEQ’s projects include ground-up development, existing
building repositions, and comprehensive operational and leasing.
The MEQ philosophy, driven by true investment diversification,
leverages multiple categories including mixed-use, creative office,
retail, and multifamily. MEQ principals’ 100+ years of combined
real estate investment experience in both private and public
companies have led to success through many real estate cycles in
key Western markets.
About AECOM
AECOM is built to deliver a better world. We design, build,
finance and operate infrastructure assets for governments,
businesses and organizations in more than 150 countries. As a fully
integrated firm, we connect knowledge and experience across our
global network of experts to help clients solve their most complex
challenges. From high-performance buildings and infrastructure, to
resilient communities and environments, to stable and secure
nations, our work is transformative, differentiated and vital. A
Fortune 500 firm, AECOM had revenue of approximately $18.2 billion
during fiscal year 2017. See how we deliver what others can only
imagine at aecom.com and @AECOM.
About AECOM Capital
AECOM Capital, a subsidiary of AECOM, is an investor and
developer of real estate, infrastructure and public-private
partnerships across North America and select international markets
with a total development value of approximately $5 billion.
Targeting high-quality, risk-adjusted investments, AECOM Capital
leverages AECOM’s vast resources across all engineering, design and
construction services for deal flow, due diligence, execution and
project delivery. For more information, visit
www.aecomcapital.com.
Forward-Looking Statements: All statements in this press release
other than statements of historical fact are "forward-looking
statements" for purposes of federal and state securities laws,
including statements relating to the future development of the
River North Art District project, the future impact to AECOM’s
backlog, as well as other future economic and industry conditions.
Actual results could differ materially from those projected or
assumed in any of our forward-looking statements. Important factors
that could cause actual results to differ materially from our
forward-looking statements are set forth in our periodic report on
Form 10-Q for the quarter ended Dec. 31, 2017, and our other
reports filed with the U.S. Securities and Exchange Commission.
AECOM does not intend, and undertakes no obligation, to update any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180322005291/en/
MEQ Media:Mass EquitiesNadene Gallagher,
310-991-0230Ngallagher@lautergallagher.comorAECOM
Investors:Will Gabrielski, 213-593-8208Vice President, Investor
RelationsWilliam.Gabrielski@aecom.comorAECOM Media:Brendan
Ranson-Walsh, 213-996-2367Vice President, Global External
CommunicationsBrendan.Ranson-Walsh@aecom.com
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