SAN FRANCISCO (June 24, 2014) – In a move that presages a powerful new partnership in California commercial real estate investment and development, a joint venture between JMA Ventures, LLC and The Roxborough Group, LLC, participated as a minority investor in the recently announced acquisition of The Bay Club Company led by controlling majority shareholder York Capital Management.
This acquisition marks the first major joint transaction between JMA and Roxborough, a firm that was founded last year by Marc Perrin after 16 years as a senior partner at Starwood Capital Group. JMA Ventures, a San Francisco-based investment and real estate development company headed by president and CEO Todd Chapman, serves as general partner and master developer for more than $1.5 billion of real estate related investments across the western United States, with a focus on hospitality, leisure, sports, lifestyle and entertainment venues.
“Marc Perrin and I are very pleased to be working together on unique investment opportunities and we are both excited to have the Bay Club be one of the first of what we hope will be many investments together,” said Chapman. “Marc brings several decades of institutional real estate and corporate investment experience with him that strongly complements our creative and entrepreneurial investment culture at JMA.”
Added Marc Perrin, managing partner of The Roxborough Group, “This investment is a great opportunity to inaugurate Roxborough’s relationship with JMA Ventures and combine my background investing in real estate and leisure businesses with JMA’s proven expertise in managing and developing premier lifestyle destinations.”
JMA is a leader in developing and redeveloping iconic, large-scale lifestyle properties, spanning hospitality, leisure, residential, retail, office and industrial. In May, the Sacramento City Council approved a plan to build a new Entertainment and Sports Center (ESC) surrounded by in excess of 1.5m square feet of mixed-use development at Sacramento Downtown Plaza. The ESC will be the new home of the Sacramento Kings of the National Basketball Association, while the surrounding portion of Downtown Plaza will be redeveloped by JMA Ventures. The arena is scheduled to be open by September 2016 and JMA will collaborate with the Kings on the design and development of the lifestyle mixed-used project that will integrate with the arena complex and activate the surrounding area 365 days a year.
Founded by Perrin in 2013, The Roxborough Group is a privately held real estate investment firm headquartered in San Francisco, focusing on opportunities in value add and transitional real estate assets, real estate related operating businesses, and high quality, longer duration real estate investments. Perrin previously was at Starwood Capital Group for 16 years, where he was a managing director, founded Starwood Capital Group’s West Coast office, and co-headed Starwood’s U.S. investing. Prior to Starwood Capital Group, Perrin was with Salomon Brothers Inc. from 1995 to 1997. Perrin is a Trustee of the Urban Land Institute and a member of the Board of Directors of TRI Pointe Homes, Inc. (NYSE: TPH).
About JMA Ventures, LLC
JMA Ventures, LLC is a full service San Francisco based investment and real estate development company with in-house acquisition, development, finance, leasing, marketing and management capabilities. The company has compiled a 20-year track record of successful projects, both residential and commercial, combining investment and development expertise currently serving as general partner and master developer for in excess of $1.5 billion of real estate related investments across the western United States. For more information, please visit www.jmaventuresllc.com
JMA’s portfolio encompasses some of Lake Tahoe’s and the San Francisco Bay Area’s most appealing lifestyle and entertainment venues, including the proposed redevelopment of Homewood Mountain Resort in Lake Tahoe; the West Shore Café and Inn; Constellation Residences at Northstar, A RockResort; ownership positions in the recently merged Alpine Meadows and Squaw Valley Ski Resorts; as well as Fairmont Heritage Place at Ghirardelli Square in San Francisco and Waterbar and EPIC Roasthouse restaurants on San Francisco’s revitalized Embarcadero waterfront.
About The Roxborough Group
The Roxborough Group is a privately held real estate investment firm headquartered in San Francisco and founded in 2013 by Marc Perrin. Mr. Perrin previously spent 16 years at Starwood Capital Group where he was a Managing Director and most recently co-headed Starwood’s U.S. investing. The Roxborough Group focuses on opportunities in value add and transitional real estate assets, real estate related operating businesses, and high quality, longer duration real estate investments.