projects
Additional Information
Affiliates of Coastal States Management Corporation and its principals are owners of properties and also serve as third party managers for unrelated owners. Examples of other owners served include the Trustees of Penn Central Transportation through Victor Palmieri & Company, Executive Life Insurance Company in Receivership, Continental Illinois Realty, Great Western Financial, and Sundance Group.
The geographic territory covered has spanned from Mid-Manhattan in New York City to Philadelphia, Washington D.C., Orlando and Puerto Rico; from Dallas, Texas to New Mexico, Colorado, Utah, and Arizona; and from San Diego to Anaheim, Santa Cruz, San Francisco and Mendocino in Northern California.
Types of locations have ranged from metropolitan downtown, suburban, convention center, natural locations (water or open country) and resort.
Individual project sizes have ranged from a 60-room boutique property to 2,000 rooms; from a 60-unit Class B apartment to a 384-unit Class A apartment; from 20,000 square foot street level retail to a 250,000 square foot shopping center; and on sites from 20,000 square feet to 5,000 acres.
Substantial repositioning and turn-around efforts are frequently required. Our work has included restoration of period hotels as well as heavy reconstruction and partial new construction to add elements to an existing project. Major food and beverage repositioning and restaurant development is frequently a key component required to provide “signature” elements important to marketing the overall project. We have re-positioned various hotels towards all market segments, including convention, corporate meeting, incentive travel, individual corporate and commercial, destination resort, theme park leisure travelers and tours.
Our background in real estate development enables us to view non-core elements of properties as an opportunity to gain profit from what can be considered “side businesses,” which, if treated as truly separate opportunities with separate management focus, can provide substantial additional profit. These businesses have included specialty space leasing, licensing, dinner theatre production, and major event production.