MS Resorts - Eastern Capital invested in a $4.5 billion portfolio comprised of eight highly recognized and iconic class A resorts
located in some of the country’s most desirable destinations. Eastern is a preferred equity partner with a Morgan Stanley sponsored
fund, CalSTRS, the State of Florida and Pyramid Advisors, a renowned leader in the hospitality industry.
Bay Colony - This asset is a 968,831 SF class A suburban office campus located in Waltham,
MA, Boston’s premier suburban office market. Eastern Capital purchased a discounted
loan position from Lehman Brothers.
Shutters on the Beach and Casa Del Mar, Santa Monica, CA - In May of 2008 Eastern
Capital acquired discounted mezzanine loan positions on two beachfront luxury hotels located
in Santa Monica, California. Shutters on the Beach is a 198 room hotel built in 1993 and
renovated in 2005-2006. Casa Del Mar is a 129 room hotel built in 1999 and renovated in
2007-2008. Each is a unique asset located in an exclusive waterfront area in which there are
significant barriers to competition. Together these assets are valued in excess of $450 million.
Brisbane, San Francisco, CA - Eastern Capital purchased discounted
junior positions from Credit Suisse in Q2 2008 on this 194,000 square foot class-A suburban office property
in Brisbane, California.
Linden Square,Wellesley, MA - Formerly operated as a family owned lumberyard for over
100 years in the heart of Wellesley, this site was acquired by Eastern through a complicated reverse
merger transaction and developed this site into a 275,000 square foot lifestyle shopping
centered anchored by Roche Bros., CVS, Citizens Bank, Beacon Hill Athletic Club,
Starbucks, and others. The shopping center was sold to Federal Realty in Q3 2006.
350 Washington Street, Boston, MA - This former Woolworth building is located at the
corner of Washington and Franklin Streets in Downtown Crossing, one of New England’s
busiest shopping districts. Eastern’s unique insight led to a creative approach to this project,
which had been stalled for more than ten years. Working closely with state, city and local
interests, Eastern moved decisively to divest 600,000 square feet of air rights and an 850 car
parking garage now known as 33 Arch Street. Eastern retained and redeveloped 150,000
square feet of prime retail space where Marshall’s, H&M, T.J. Maxx and Boston Sports Club
now enjoy the benefits of this premier location. As part of Eastern’s strategic plan, 350
Washington Street was sold to an off-shore investor in 2006.
Ann & Hope - 5 stores - 1,100,000 square feet - MA & RI - As part of a five-location
transaction, Eastern acquired over 1.1 million square feet of space formerly owned and
occupied by Ann & Hope, a discount department store chain in Massachusetts and Rhode
Island. Through the diligent efforts of the Eastern team, this complex acquisition, leasing and
financing project was completed within an extremely tight timeframe. The dated Ann & Hope
facilities have become vibrant new locations for Stop & Shop, Lowes, Home Depot and Kohl’s
along with other top national and regional retailers.
Bradlees - Eastern and Stop & Shop formed a partnership which purchased control of the
designation rights on the entire 117 unit Bradlees chain which filed for protection under
Chapter 11 with the Bankruptcy Court, Southern District of New York. Utilizing its contacts
and expertise, Eastern successfully disposed of the entire 9 million square foot, 117 location
Bradlees chain, generating in excess of $200 million worth of value in just nine (9) months
from award of designation rights through final transfer approval and closing period.
Crosspoint - Former Wang Corporate Head Quarters, Lowell, MA - Brian Kelly and Dan
Doherty, two of the principals of Eastern, are known throughout the real estate industry for
their involvement in the well-publicized purchase of the 1.2 million square foot
former Wang corporate headquarters located in Lowell, Massachusetts for a stunning
$525,000. After an innovative four-year transformation to a first-class multi-tenant office
tower, the property was sold for over $100 million.
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