Innovative Retail Development Firm, DJM Capital Partners, takes the helm to thoughtfully, tastefully create a special place for Newport Beach locals and visitors alike
Innovative Retail Development Firm, DJM Capital Partners, Takes the Helm to Thoughtfully, Tastefully Create a Special Place for Newport Beach Locals and Visitors Alike
NEWPORT BEACH, Calif. – DJM Capital Partners, a private equity investment, development and asset management firm specializing in the retail sector, today announced that it will begin work to restore Lido Marina Village in Newport Beach, starting in February 2014. The San Jose, Santa Barbara, and Orange County-based firm, known for its successful reinvigoration of the Bella Terra retail and residential center in Huntington Beach, will redevelop the Newport Beach landmark so that it once again becomes a highly appealing shopping, dining, and marina destination for locals and visitors alike.
“We acquired Lido Marina Village in 2012 with the goal of bringing it back it to its original charm and vibrancy,” says DJM Capital Partners President Lindsay Parton. “Although the project had, in the hands of previous ownership, been allowed to languish, our firm saw the potential to revitalize Lido Marina Village, making it a special place that captures the casual, sophisticated charm that Newport Beach has always offered.”
First developed in 1971, Lido Marina Village was originally conceived as a small and inviting pedestrian-friendly village for shopping, dining, and marina activities in the heart of world-renowned resort city of Newport Beach. Capitalizing on Lido Marina Village’s idyllic coastal location on Newport, DJM Capital Partners is carefully and respectfully restoring the area to bring out much of its original personality and charm.
“Our Lido Marina Village Team has spent more than a year in the area, immersing ourselves in the history and community, to ensure that we offer local residents and visitors something that caters specifically to their tastes and desires,” says Parton. “To create this environment, we will make subtle yet important changes to upgrade the buildings, interior streets, storefronts, hardscape, landscaping and lighting. We also will be upgrading the docks and decks on the marina side, to take advantage of the project’s amazing location on the water and to restore the entire Village to the quality it deserves.”
The first phase of work at Lido Marina Village is set to begin in January 2014 and is anticipated to be complete in late 2015. At that time, the newly re-imagined Lido Marina Village will be unveiled, featuring a hand-selected, modern mix of casual-luxe eateries, boutiques, and shops not currently over-exposed in Orange County. The upgrading of the project’s marina will comprise the second phase of the plan, and is anticipated to be complete by July 2016. This will set the stage for waterside restaurants, shops and leisure experiences to take advantage of the magnificent waterside docks, decks and views.
“The re-imagining of Lido Marina Village is already generating a lot of excitement in the retail and food communities,” said Heather Hollister, DJM Capital Partners Senior Vice President of Leasing. “Our highly selective and strategic leasing plan for Lido Marina Village will ensure that we curate an upscale mix of offerings that are modern, fresh, and also fun. Visitors to Lido Marina Village can expect a collection of restaurants, cafes and artisan food purveyors, as well as shops featuring fashion, home décor, gifts, books, and much more.”
For more information on Lido Marina Village, please visit www.djmcapital.com.
About DJM Capital Partners
DJM Capital Partners, Inc. provides private equity investment, development and asset management services within the real estate sector. With a core strength in retail combined with expertise in office, industrial and residential product types, DJM’s superior market knowledge and strategic acquisition of undervalued assets is represented by a current portfolio of more than two million square feet. Additionally, a forward-looking development slate represents another 310,000 square feet with an estimated total portfolio asset value of $1 billion.
Finding creative solutions to complex situations involving underperforming or improperly capitalized assets, DJM creates incremental value through skilled repositioning, architectural enhancement, savvy leasing and keen operational know-how. www.djmcapital.com.