News Release
For Immeediate Releasse
Decemberr 8, 2015
F
For Further Informationn, Contact:
M
Maureen Gaarrity, The G
Goldenberg G
Group
2215/205-26776
m
maureen@m
mgarritypr.coom
G
George Lanccaster, Hiness
7713/966-76776
[email protected]
M
Mary Beth R
Ryan, ASB R
Real Estate
IInvestments
2203/268-01558
m
marybeth@m
millerryanllcc.com
GOLD
DENBERG GROUP,
G
HIINES AND ASB REAL
L ESTATE INVESTM
MENTS
PART
TNER ON NEW
N
PHIL
LADELPHIA
A MULTIF
FAMILY DE
EVELOPM
MENT
(PHILAD
DELPHIA) – The Goldeenberg Grouup of Philaddelphia, inteernational reeal estate
firm Hinees, and ASB
B Real Estatee Investmentts, today cellebrated the groundbreakking of a
new Class A residenttial tower att 1213 Walnnut Street inn Center Citty, Philadelpphia. The
project represents the first venturee by the parttnership of G
Goldenberg, Hines and A
ASB.
12
213 Walnut will be a 26-story
2
30 0,000-squarre-foot, 322--unit for-rennt luxury
residentiaal tower loccated in th
he Midtownn Village nneighborhood of Centeer City’s
Washingtton Square West
W
submaarket. This sstate-of-the aart apartmennt tower willl feature
more than
n 7,200 squaare feet of reetail space oon Walnut annd Sansom S
Streets and a best-inclass ameenity packaage with ov
ver 11,000 square feet of resident communitty space,
including a stunning
g great room
m, outdoor terrace lounnge overloooking Walnuut Street,
nment kitchen, private cconference aarea and luxxurious “quieet room.”
gaming arrea, entertain
Other pro
operty featurres include a 3,000+-squuare-foot inndoor/outdooor fitness cennter with
exercise
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studio and fitness and yoga terrace, rooftop deck, an elevated private dog park, and
bicycle storage with workshop.
The project will offer studio, one-bedroom and two-bedroom units incorporating
best-in-class finishes that cater to a sophisticated urban resident. The project will be
LEED® Silver certified, and will incorporate many sustainable features including: the use
of green building materials; energy-efficient lighting and plumbing fixtures; state-of-theart building systems; a green roof; and best management practices.
Design Collective Inc. of Baltimore, whose prior work includes the Domus
apartments in University City, is the base-building architect, with common areas and
amenities designed by RD Jones & Associates. Hunter Roberts Construction Group is the
general contractor. Construction began in October, and the first apartments are scheduled
to be ready for occupancy in the summer of 2017.
The Goldenberg Group Founder, President and Chief Executive Officer Ken
Goldenberg said, “This development is an exciting one for us because Midtown Village is
a diverse, expanding neighborhood in a high-density, highly amenitized area. We have
partnered with Hines and ASB to create a project that will contribute to the unique
vibrancy of the neighborhood.”
Daniel Moore, Hines managing director, added, “1213 Walnut is particularly
significant to Hines as it is our first development project in Philadelphia. We look
forward to setting a new bar for top-quality multifamily product in Center City and to
growing our presence in the city. We feel privileged to be partnering with Goldenberg
and ASB on this important new venture.”
Dignitaries in attendance for today’s groundbreaking celebration include City
Councilman Mark Squilla and Deputy Mayor for Economic Development and Commerce
Alan Greenberger.
The Goldenberg Group
Based in Blue Bell, Pennsylvania, The Goldenberg Group (TGG) is one of the greater
Philadelphia region’s most diverse development companies. Since 1987, TGG has built a
reputation with leading national retailers and banks as Greater Philadelphia's top
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developer of open-air "power" shopping centers. TGG has developed over 14 centers and
now owns and manages over six million square feet of retail space, with a tenant
occupancy rate consistently exceeding 98%. TGG has leveraged its development
expertise through diversification into other product categories including residential,
mixed use and student housing. Founder, President, and CEO Ken Goldenberg leads
TGG’s team of 20 professionals in a variety of functions including acquisitions,
development, leasing, design, construction, finance & accounting, asset management, and
marketing. Visit http://www.goldenberggroup.com/ for more information.
About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a
leading U.S. real estate investment management firm, managing $6 billion* in gross
assets under management for over 300 institutional clients. Headquartered in Washington
DC, ASB invests in major urban markets across the country, concentrating in office,
multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real
Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Fund, a
low‐leverage value creation vehicle; and a development separate account. For more
information about the company, visit www.asbrealestate.com.
* As of 9/30/2015.
About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a
presence in 199 cities in 19 countries. Hines has $87 billion of assets under management,
including $43 billion for which Hines provides fiduciary investment management
services, and $44 billion for which Hines provides third-party property-level services.
The firm has 104 developments currently underway around the world. Historically, Hines
has developed, redeveloped or acquired 1,100 properties, totaling over 346 million square
feet. The firm’s current property and asset management portfolio includes 531 properties,
representing over 186 million square feet. With extensive experience in investments
across the risk spectrum and all property types, and a pioneering commitment to
sustainability, Hines is one of the largest and most-respected real estate organizations in
the world. Visit www.hines.com for more information.
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