Miami-Fort Lauderdale Area
In Sept 2013, QIC Global Real Estate, the real estate arm of Australia-based QIC, entered into a partnership with Forest City on eight US malls. The deal brings QIC GRE a 49% equity interest in the properties at a cost of $435.6 million with the portfolio valued at $2.05 billion. The eight properties include: Victoria Gardens in Rancho Cucamonga, CA; Charleston Town Center in Charleston, WV; Mall at Robinson near Pittsburgh, PA; Promenade in Temecula, CA; Galleria at Sunset in Henderson, NV; Antelope Valley Mall in Palmdale, CA; Short Pump Town Center in Richmond, VA; and South Bay Galleria in Redondo Beach, CA. In August 2015, QIC purchased the Shops at Tanforan. We are transacting to purchase the remaining 51% of the Forest City properties within the next year. * * * Collarmele Partners recently entered into an investment partnership with Kohlberg Kravis Roberts & Co. to acquire the 1.5M sq.ft. Yorktown Center in Lombard, IL. and the 1.2M sq. ft. Colonie Center in Albany NY. YTC Pacific, a partnership between, Collarmele Partners, Pacific Retail Capital Partners and Continuum Partners, will manage the day-to-day operations of Yorktown and is an investor in the transactions. Collarmele Partners will be handling the leasing and master planning for the projects. In 2012, we entered into a partnership with a local Panamanian developer on a new ground up 1.1M sq. ft. enclosed regional shopping center in Panama City, Panama. Collarmele Partners is currently working on the master planning, development and leasing coordination for the center scheduled to open Spring 2015. In 2011, we were named a "Preferred Developer" for Jared The Galleria of Jewelry, a division of Sterling Jewelers. The new Jared store at The Cove in Aventura, FL opened Sept 2012. In 2009, we acquired West Oaks Mall in Houston Texas in a partnership with Pacific Retail Capital Partners and Square Mile Capital.
QIC is a leading provider of dynamic investment solutions for sovereign wealth funds, superannuation funds and other institutional investors. Established in 1991 by the Queensland Government to manage its long-term investments, we have grown to be the third largest institutional investment manager in Australia, with more than 90 local and international clients and $74.3 billion* in funds under management. With a strong foundation in Australia, our global presence also extends to Asia, Europe and the United States. Our heritage as a government owned corporation has contributed to a culture that puts our clients first. We continually strive to find better ways to meet and exceed our clients' investment objectives. Our unique history of managing the total investment portfolio for very large clients has enabled us to deliver innovative investment solutions, which few other fund managers have been able to do.
Collarmele Partners recently entered into an investment partnership with Kohlberg Kravis Roberts & Co. to acquire the 1.5M sq.ft. Yorktown Center in Lombard, IL. YTC Pacific, a partnership between Pacific Retail Capital Partners, Collarmele Partners, and Peter Fair (Continuum Partners) will manage the day-to-day operations of Yorktown and is an investor in the transation. Collarmele Partners will be handling the leasing and development for the project.