Trademark restructures, announces $50 million anchor realty fund
Fort Worth, Texas Trademark Property Co. announced it is further restructuring its business model and executive team, and launching its first investment fund.
The developer announced the Trademark Investments division, taking the company back to its roots in property investments, it said.
The move follows the April announcement of the Trademark Property Services division, focusing on the growing opportunities in third-party management and advisory services.
Two longtime Trademark executives will head up the investments division: Tommy Miller as chief investment officer and Bill Morris as chief acquisition officer.
Trademark founding partner Terry Montesi also announced the launch of Trademark Anchor Realty Fund I, a $50 million retail, mixed-use and urban infill property-acquisition fund. Trademark has commenced fundraising with the goal of a first closing by January 2010.
“Our Anchor Fund will provide pursuit and co-investment capital for $500-$600 million of acquisitions over the next two to three years,” said Miller.
Trademark also announced the hiring of Daniel Upton as senior VP – asset management. Upton will lead the Trademark Property Services division, overseeing asset management of both Trademark-owned and third-party developments as well as advisory services for other owners and lenders.
Harris Teeter looks for D.C. expansion
Washington, D.C. Supermarket chain Harris Teeter is looking to open a store near the Nationals Park ballpark in Washington, D.C., after signing a letter of intent with developer Forest City Washington, according to the Charlotte Business Journal.
The store near the ballpark will measure 50,000 sq. ft. on the ground floor of a building planned for a waterfront development dubbed The Yards.
The company already has two D.C. stores.
No lease had been signed for the site, the report said.
Jones Apparel division opens pop-up store
New York City Rachel Roy, a division of Jones Apparel Group, has opened a pop-up store to promote the launch of its new Rachel Rachel Roy diffusion line.
The 1,900-sq.-ft. store features products from the Rachel Rachel Roy collection, including sportswear, footwear, handbags and jewelry. The store design also includes vintage dress forms throughout the space and an area dedicated to graffiti panels designed by tag artist SenOne.
The store will be open to the public for a limited time in New York City’s SoHo neighborhood beginning Sept. 9, through Sept. 16.