Search


  DURING THE QUARTER, MEPT EXECUTED A FORWARD COMMITMENT OF $120 MILLION TO PURCHASE, UPON COMPLETION IN 2011, ONE FRANKLIN-LE MERIDIEN,
a planned 250-room, four-star hotel property in Boston. The hotel will be part of a 1.4 million square foot, mixed-use development that will incorporate the former historic Filenes Basement clothing store into space for retail, hotel, residential, and office.


IN SEPTEMBER, MEPT PURCHASED AN ADDITIONAL OWNERSHIP INTEREST IN ARBORETUM LAKES WEST FOR $1.7 MILLION.
The purchase of the outstanding 5 percent interest brings the total MEPT ownership to 100 percent. Arboretum Lakes West is a Class A, 190,361 square foot, mid-rise suburban office building located in Chicago.


Procter & Gamble Co.
Procter & Gamble Co. - maker of Tide laundry detergent, Charmin bathroom tissue and Crest toothpaste - leased 1.2 million square feet of space at Gateway Commerce Center in Edwardsville. P&G has moved into nearly 580,000 square feet at the Gateway Commerce Center's Westway III building at 3101 Westway Drive under the $17 million deal.

Symantec Expands in Downtown San Francisco
Firm Takes Additional 17,000 SF at 303 2nd Street Symantec leased 16,966 square feet on the fifth and eighth floors for six years at 303 2nd St. in San Francisco, where it already occupies 38,734 square feet.

Ozburn-Hessey Expands Operations in Dallas
Ozburn-Hessey Logistics signed a 15-month lease for an additional 148,000 square feet at the Pinnacle Park I building at 3700 Pinnacle Point Drive in Dallas, TX. The firm moved into this new space on July 1.

 

Target Markets

For each potential acquisition or disposition, Kennedy Associates Real Estate Counsel, LP's research, acquisition, and asset management staff conduct detailed analysis of demand, supply, and capital market conditions. This includes quantitative evaluations of:

  • Demand - including employment, household formation, income, and retail sales
  • Supply - including absorption, new construction, vacancy, rents, and user needs
  • Capital markets - including asset prices, cap rates, and investment flows by type

Formal forecasting methods include economic base, shift-share, econometric, and demand-supply market analysis models.

MEPT places a primary emphasis on markets with proven ability to generate continued demand for all property types, withstand business cycle and market volatility, and provide relative liquidity and economic diversification. Kennedy evaluates macro and region-specific economic, space market, and capital market trends to determine particular emphases during certain phases of the real estate cycle. MEPT currently has investments in over 25 major metropolitan markets.

MEPT evaluates opportunities based on the merits of each individual asset. In order to insure that each asset will create value, MEPT seeks investments where:

  • Development of new assets at costs below current market values
  • Acquisition of existing properties at or below replacement cost
  • Building rehab and/or expansion, where appropriate
  • Identifying opportunities to lease the asset at higher rents

The process of seeking specific opportunities in our target markets and property types is initiated and directed by acquisition officers based in Seattle, Dallas, Chicago, Washington, DC, Los Angeles, and San Francisco. Because these professionals have long-established relationships with property owners and developers, providing MEPT with early access to prime opportunities.


    Back to Home        Sitemap