PAST
PROJECTS

The Leader Building

Cleveland, OH 

A 285,000 sq.ft. Class “B” office building situated in the heart of Cleveland’s CBD, The Leader Building was purchased in 2004 with a 45% vacancy factor. The building had a major capital improvement program which included lobby and facade renovations and mechanical upgrades. Ownerships objective was to focus on growing small businesses and legal services industries in the CBD. The property was sold in 2014.

Juniper Court

1330 Chestnut Street, Philadelphia, PA

The property, an 81,000 square foot former Woolworth Department Store, was acquired in July 1998 from one of Citicorp’s affiliates. Ownership redeveloped the project once the revitalization/renovation program on Chestnut Street was completed. The renovation and redevelopment was completed in the fall of 2006 with an eclectic mix of premier national retail & entertainment tenants including West Elm (a division of Williams-Sonoma), Lucky Strike of Hollywood and Dick Blick Art Supply. The property was sold in 2015.

Jamestown Mall

St. Louis, MO

The property, a once dominant 1 million square foot regional mall, was anchored by four department stores including Sears, Macy’s, JCPenney Outlet and Dillard’s. The property was acquired in May 2003, from Richard E. Jacobs Companies. At the time of its acquisition, due to lack of proper marketing and management, the property’s vacancy rate was more than 30%. The redevelopment plan included an aggressive leasing and marketing program to fill in the existing merchandising gap. However due to national and regional retailing trends and macroeconomic headwinds of 2008 and despite significant support from St. Louis County, the redevelopment plan stalled and ultimately abandoned. Ownership made the strategic decision to divest the mall in September 2009. Currently, 60 acres of developable land and a 200,000 square foot anchor retail building remain in the portfolio and were not included in the sale.

Hickory Ridge Mall

Memphis, TN

Hickory Ridge Mall was acquired in April 2003 from a subsidiary of Wells Fargo Bank. At the time of its acquisition, due to fast changing demographics and declining sales, the vacancy rate was more than 30%. The redevelopment plan included an aggressive leasing and marketing program to re-merchandise the mall with retailers more suitable for the new demographics, and position of the mall as the family retail destination of the region. There was also significant opportunity to utilize a recently vacated department store in the repositioning. Hickory Ridge Mall was divested in October 2008.

One Calvert Plaza

Baltimore, MD

A 128,000 sq.ft. Class B Building situated in the revitalized inner harbor area of Baltimore. The property was acquired in November 1999, with more than 30% vacancy rate. Utilizing a successful approach similar to that of the Redwood Tower, the property was stabilized at 95% occupancy, and refinanced within fifteen months of its acquisition. The property was sold in 2003.

Bayview Tower Condominiums

Staten Island, NY

Bayview Tower Condominiums is comprised of 131 unit luxury residential units situated on the waterfront adjacent to the Staten Island Ferry. Carlyle Development Group acquired 99 unsold units (approx. 120,000 sq.ft.) and assumed the sponsorship of the condominium project from an affiliate of Greater New York Savings Bank in December 1998. The Project was sold out less than 24 months after acquisition.

Balmoral Golf Club

Quebec, Canada

A 270 acre development with an 18-hole golf course (designed by Graham Cook) as well as 200 residential homes. Located near the renowned Mont Saint-Sauveur ski resort. The golf-course and the clubhouse were completed in 1993.

Park Lane Reserve

Harrison, NY

Pacific Management & Development Corp., an affiliate of CDG, acquired a 400 acre parcel of land in Harrison, N.Y., near Westchester County Airport and was engaged in the development and subdivision of the project. The necessary planning and design were completed for over 309 single family residential lots and plat sub-division permits were granted in 1988. At the time, the project was described as the largest single-family residential development in the history of Westchester County.

Copper City

Houston, TX

A 300 acre development, master-planned for approximately 700 single-family homes, which were originally part of a larger 1,200 acre master-planned project called Whitestone. The project consisted of the development of infrastructure and sales and marketing of single-family lots to local builders. More than 450 lots, were developed through the end of 2001. The project is currently sold out.

Victoria Estates

Beekman, NY

Located on 70 acres in Beekman, Dutchess County, the property was zoned for 41 single family homes on one acre lots and a 20,000 square foot retail strip center. Planning and approvals were completed in 2002, and construction ended in spring of 2003.

Southwest Ranch, Limited Partnership

Bexar County, Texas

Approximately 1,021 acres were acquired in to-be-developed multi-use development including retail, office, distribution, light industry, multi-family and residential units. The project was divested in 1988.

1100 New York Avenue Associates

Limited Partnership

Formed in 1985 for the purpose of acquiring and developing a commercial property in Washington, D.C., Carlyle Development Group acted as the sole general partner. The property consisted of 32,788 square feet of land for the construction of a 15 story office building for a gross buildable area of 327,800 sq.ft. The equity investment was $7,000,000 towards the acquisition, and a $15 million loan was obtained from Dominion Federal Bank for the balance. The property was divested in 1987.

1620 H-B Associates

Limited Partnership

Formed in 1985 for the purpose of acquiring and developing a commercial building in Washington, D.C. The land and air rights were purchased for $18,000,000. A 15 story office building was planned for the site totaling a gross buildable area of 175,512 sq.ft. The equity investment was $6,500,000 and the balance was financed by Chase Manhattan Bank. The project was divested in 1988.

Carlyle Condominium Project

A limited partnership formed in 1986 for the purpose of acquiring and developing a residential property in Los Angeles, California. The site, 83,635 square feet of land was developed as a 31 story condominium on the Golden Mile of the Wilshire Corridor. There were 134 luxury units overlooking the Los Angeles County Club. The equity investment was $13,000,000 towards a total project cost of $63,380,000. The construction loan was $45,000,000. The project was divested in 1992.

Timberland and Tiburon Associates

T & T acquired the 794 acre mixed-use development in 1982. They supervised the completion of all the necessary engineering plans and environmental reports needed to obtain all the approvals and permits from the related governmental agencies. A final master-planned development for 2,890 residential units, two golf courses and approximately 800,000 sq.ft. of retail & commercial space was approved in 1989. The Property was divested in three phases in 1998-99.

Réserve Morgan

Quebec, Canada

A 2,400 acre lakefront residential development located in the suburbs of Montreal near the renowned Saint-Sauveur ski resort. The project was master-planned for more than 800 single-family lots. Following the development and sales of more than 120 homes, the project was divested in 1997.

Carlyle-Apollo Limited Partnership

250 Apollo Drive, Chelmsford, MA

In 1994, the property was acquired from Citicorp Real Estate by Carlyle at a purchase price of $10,000,000 in cash. The property is a 144,000 sq.ft. first class office facility on two floors located in the suburbs of Boston. This property is 100% leased to the Apollo Computer Company, a wholly-owned Division of Hewlett-Packard. The Property was divested in 1996.

Norwalk Mall & Tower

24 Belden Avenue, Norwalk, CT

Debt and equity financing was arranged by CDG in 1993, for the all cash acquisition (from Superior Bank, FSB) and renovation of the property. The property consists of approximately 122,000 sq.ft. net rentable mixed-use development. This contains an 82,800 sq.ft. enclosed retail space and a six story building with approximately 39,200 sq.ft. net rentable office space, and 260 space indoor parking garage. CDG supervised the property’s renovation, leasing and management which increased the property’s occupancy. The project was divested in 1997.

14 Westport Avenue

Norwalk, CT

A 33,000 sq.ft. Class “B” Building situated on Route #1, in Fairfield County. The property was acquired vacant in January 2000 on an all cash basis. The total project cost was approx. $3,000,000. CDG is the Managing General Partner for 14 Westport Ave, LLC. The project was divested in 2004.

Delta Building

50 Washington St., Norwalk, CT

Debt and equity financing was arranged by CDG in 1994, for the all cash acquisition (from Lincoln National Investment) and renovation of the property. The property consists of a twelve story office facility, with approx. 185,000 sq.ft. of net rentable area. CDG supervised the management and redevelopment of the property, which was 70% occupied. The property was divested in February 1999.

Carlyle Land L.P. 12

881 Lafayette Blvd, 38-56 Fairfield Avenue, Bridgeport, CT

Purchased a cumulative gross rentable area of 65,000 sq.ft. from Bank of Boston in June 1991. Carlyle Associates, Inc. was acting as general managing partner and developer. Carlyle stabilized the high vacancy rate of the buildings by initiating a major renovation and leasing program. The properties were divested in 2000-2001.

Kingsgate Village Apartments

7300 Bissonnet Road, Houston, Texas

PMDC is the sole managing general partner of Houston Kingsgate Limited Partnership, which purchased the property in December, 1988 all in cash. The property consisted of two adjacent apartment complexes totaling 312 units of one to three bedroom apartments. The property was divested in 1996.

Westhollow Apartments

10001 Fondren Ave., Houston, Texas

PMDC was the sole managing general partner of Westhallow Limited Partnership, which purchased the property in July 1989 all in cash. The property consisted of 208 units of Class B apartments. The property was divested in 1996.

Villa D’Orleans Apartments

4055 S. Braeswood, Houston, Texas

PMDC was the sole managing general partner of Houston Orleans Limited Partnership, which purchased the property in April, 1989 all in cash. The property consists of 152 units of Class A/B apartments. The property was further renovated through an additional cash investment of $800,000, which increased its occupancy rate to approx. 95%. The property was divested in 1997.

Sunny Square Apartments

9101 Fondren Rd., Houston, Texas

PMDC was the sole managing general partner of Sunny Square Limited Partnership, which purchased the property in October 1989, all in cash. The property was divested in June 1990.

The Crossings at Tidwell

6000 Sun Forest Avenue, Houston, Texas

PMDC was the sole managing general partner of Houston Crossings Limited Partnership, which purchased the property in June 1991, all in cash. The property consisted of 336 units of Class B apartments. The property managed by PMDC through its local office in Houston was approx. 90% leased at the time of its divestiture in June 1999.

CURRENT PROJECTS