Local Commercial Real Estate Firm Awarded Property & Asset Management of Medical Office Building

Growing Its Property & Asset Management Portfolio to More Than 550,000 Square Feet

New Orleans (August 22, 2022) – SVN | Urban Properties, a local commercial brokerage, property/asset management and development firm, is pleased to announce that it was recently awarded the property and asset management of the Galleria Medical Office Building at 3100 Galleria Drive in Metairie, bringing its management portfolio to more than 550,000 square feet.

The firm took over management of the property earlier this month. The three-story, 51,000 square-foot building is physician-owned and expands the firm’s managed medical office portfolio to seven properties and more than 250,000 square feet across four Louisiana Parishes. In addition, SVN | Urban has added retail centers in Slidell, Mandeville, Metairie, and New Orleans East this year.  These latest assets enabled the firm to expand its team with the hire of a Property Manager, Keith Gross.  

SVN | Urban Properties provides asset and property management services for more than 25 properties in six Parishes across the state including the greater New Orleans metropolitan area, Lake Charles, and Shreveport. The firm manages multiple types of commercial investment properties across a variety of asset classes such as industrial, office, medical office, retail, restaurants, shopping centers, short-term rentals, and even coworking spaces. SVN | Urban will also be adding a boutique hotel / hospitality to its managed property portfolio in early 2023.

“Our management style focuses on maximizing our clients’ return on investment by maintaining superior tenant relations, demanding accountability from vendors and service providers, and taking an active, hands-on approach,” said Katherine Bowler, Asset and Property Manager at SVN | Urban Properties “It is important to have a team like ours, as opposed to a singular employee, that pays attention to all the details early on in order to maximize long-term profitability.”

SVN | Urban takes a holistic approach to asset management as it offers services from day-to-day property operations to portfolio oversight, as well as assessment and implantation of asset leasing strategies. For more information on SVN | Urban’s asset management services, please contact katherine.bowler@svn.com.

Robert Thompson Buys the Whitney Hotel from Joe Jaeger

NEW ORLEANS  – Entrepreneur Robert Thompson’s hospitality firm Angevin & Co. has partnered with Cleveland-based real estate investment company GBX Group to purchase the Whitney Hotel from hotelier Joe Jaeger for $16.9 million. 

Thompson, creator of the Punch Bowl Social “eatertainment” concept, moved to New Orleans in early 2021. He purchased the Frenchmen Hotel (417 Frenchmen St.) in June.

With the acquisition of the Whitney Hotel, located at 610 Poydras Street in the Central Business District, Thompson said he has established “gateways” to the French Quarter from two sides.

“It is a privilege to honor the legacy of the Whitney Hotel by preserving its history while reimagining its future,” said Thompson in a press release. “We’re going to bring new energy to this legendary property, reimagining experiences. This means opening the first on-site restaurant in the property’s history – a vegetable-forward, Southern restaurant – as well as a thoughtful cocktail bar that transitions from afternoon happy hour to late-night last calls.”

The Whitney Hotel building was originally constructed as a bank. Now registered as a National Historic Landmark, the former Whitney Wyndham has 93 guest rooms, 24 suites and 30-foot lobby ceilings. Jaeger bought it from developer Paul Flower in 2014 for $10.4 million. Angevin & Co. will work with design partners FAM Design to make “top-to-bottom” renovations and updates.

“When Robert articulated his vision for the Whitney, I knew the property would be in great hands,” said Jaeger, who has sold several of his New Orleans hotels since the start of the pandemic. “Robert is looking at both the Whitney, and the city, with fresh eyes, and the ideas he’s bringing to the forefront will have a positive and lasting impact on the hospitality and tourism industry in New Orleans.”

GBX specializes in preserving and operating historic real estate in urban markets. The Whitney Hotel is anticipated to re-open to guests in early 2023. Tyler Robinson at SVN | Urban Properties represented Angevin & Co. on the transaction.

Categories: Hospitality, Real Estate, Today’s Business News

Local Real Estate Firm Launches $30 Million Venture Fund

New Orleans (January 10, 2022) – Local commercial real estate firm, SVN | Urban Properties (“Urban”), is proud to announce that it has closed its first round of funding commitments and officially launched the Urban Venture Fund, L.P. The Urban Venture Fund (the “Fund”) will seek to deploy more than $30 million into Gulf South real estate over the next three years.

“The creation of the Urban Venture Fund is a natural next step for the leadership at SVN | Urban Properties,” said Eugene Schmitt, Director of Asset Management for SVN | Urban Properties. “We created and structured the Fund to serve as a non-institutional alternative for local and regional investors seeking to capture strong returns while also investing in the region they call home.”

Sponsored by the principals of SVN | Urban Properties, the Fund is a callable seven-year, closed-end fund, targeting middle market ($2-$10 million) investment opportunities across a variety of product types, including multifamily, industrial, hospitality, office, and retail in New Orleans and the surrounding area. 

While the Fund’s first round of capital commitments closed earlier this month, the sponsors continue to accept subscriptions from potential investors. The second and final round of capital commitment is slated to close in the first quarter of 2022.  For more information, please contact SVN | Urban Properties at info@urbanproperties.com.  

Marli Quesinberry, founder of MQ Consulting and former Vice President of Investor Relations for Cousins Properties (CUZ), will co-sponsor the Fund and serve as Fund Administrator. Fishman Haygood was the legal counsel for the formation of the fund.

Commercial Real Estate Firm Redevelops Multi-Family Building in Old Jefferson

SVN | Urban Properties Adds to its Real Estate Portfolio with Recent Partnership 

New Orleans (October 12, 2021) – SVN | Urban Properties, a New Orleans-based commercial brokerage, property management and development firm, has partnered with real estate investor Anthony Marullo to purchase a multi-family property at 261 Jules Avenue off of Jefferson Highway near Ochsner Health System’s main campus.

Rendering courtesy of CICADA

The existing three-story structure was built in 1962, totaling 18,800 square feet on one half acre of land in Jefferson Parish. USVN | Urban Properties is planning a cosmetic renovation of the 36-unit (32 one-bedroom and 4 two-bedroom) apartment building. The renovated apartment building will offer modern multi-family residential housing in an area that lacks updated options.

Michael Bucher, Partner and Director of Development at SVN | Urban Properties, is leading the acquisition and renovation. “We are pleased that Marullo chose to partner with SVN | Urban Properties on this multi-family opportunity in Jefferson,” said Bucher. “Our firm saw this as a unique opportunity to add multi-family to our real estate portfolio, as well as meet a need for suitable housing for area healthcare workers in close proximity to Ochsner’s largest hospital in its system.”

CICADA is the architect on the project, Hive Construction is the contractor, and The First Bank provided the financing. SVN | Urban Properties will handle the project management of the renovation process, along with leasing of the units and then overseeing property and asset management of the completed development. Move in is slated for late Spring 2022.  

This is SVN | Urban Properties’ second notable project with Marullo in the past several months.  SVN | Urban Properties was selected as the exclusive broker and property/asset manager for the Louisiana Revitalization Fund, a $100 million real estate fund.  Since inception, the fund has deployed over $20 million in Metairie, New Orleans, and Shreveport, LA.

Rendering courtesy of CICADA

Real Estate Developer Announces $100M Revitalization Fund

NEW ORLEANS – New Orleans based real estate developer Anthony Marullo has launched the $100 million Louisiana Revitalization Fund aimed at “investing in the revitalization of the hospitality and other service-based industries that have recently suffered due to the pandemic,” according to a press release from SVN | Urban Properties Real Estate.

The Meineke Care Care Center at 4243 Canal Street, the first property bought by restaurateur-turned-property-developer Anthony Marullo out of a $100 million "war chest" he's raised from local investors and banks to buy up commercial properties.

The goal of the fund, said Marullo, is to have available capital to purchase commercial real estate to help infuse businesses by offering lease-back options to business owners or masters of their craft/trade.  In other words, business owners in need of capital can sell their property to investors and then sign a lease to continue working on the premises.

“The demand from investors was overwhelming and I am proud to announce we are overfunded,” said Marullo. “Lease-back real estate structuring can be a great investment for both the developer and the operator. It gives the operator the cash infusion needed while giving the developer a solid return.”

Marullo selected Tim Thompson, head of brokerage for SVN | Urban Properties, as the exclusive broker for the fund. Several local financial institutions have been chosen as strategic partners for the fund’s transactions. The fund will focus on the investment and redevelopment of commercial real estate to serve the hospitality and service-based industries. The fund plans to invest strategically into all four of the state’s major metropolitan areas – New Orleans, Baton Rouge, Shreveport and Lafayette.

“I believe these industries that have been negatively impacted during the pandemic can experience a very aggressive ’V’ shape recovery if capitalized properly,” said Marullo. “Strategic partnerships between developers and operators will greatly boost these industries and help attract talent that may have left due to Covid-19. With the state ending the federal unemployment aid July 31, we hopefully will see a large return to work in these industries that the businesses so desperately need.”

The Louisiana Revitalization Fund is encouraging all hospitality and service-based industry professionals to reach out if they are looking to come home or need a cash infusion in their business through real estate backing.

“Whether you are a talented chef or savvy mechanic, we are asking all operators to reach out and see how the fund can assist you in your respective industry, said Marullo. “How can we collaborate to help kick start these industries.”

Announcing the 2021 Excellence in Construction & Real Estate honorees

Announcing the 2021 Excellence in Construction & Real Estate honorees

By: Natalie Chandler, Editor May 19, 2021 

New Orleans CityBusiness has chosen its 2021 Excellence in Construction and Real Estate class, recognizing professionals who have led the way in the areas of investment, jobs created and potential impact in the New Orleans area. The honorees are:

Architects 

Steven Bingler
Kyle D. Domangue
Justin Greenleaf
Charles Neyrey
E. Will Tregre

Commercial Real Estate Agents

Josh Fogarty
S. Parkerson McEnery

Developers

Mac Bauer
Jackie Dadakis
Paul Flower
David Fuselier
Robin Keegan
Tyler Robinson
Philip Sherman

Estimators

André Camenzuli
Patrick N. Descant

General Contractors

Ryan Allen
Erin Comeaux
William Cummings
Michael DeGruy
Chris Michel

Home Builders

Stephen Fleishmann
Tim O’Rourke
Katy Reynolds
Angelica Rivera

Interior Design/Staging

Allison Looper-Chalmers

Project Managers

Michael Bucher
Michael Cooper
Trevor Dowd
David E. Dupré
Blake Thomas Gidman
Matt Rome
Mark Salvetti
Lee Wilkens

Residential Real Estate Agents

Glennda Bach
David Favret
Micah Loewenthal
Melissa Burns McClendon
Brett A. Rector
Lisa Shedlock
Liz Tardo

Rising Star in Construction

Bradley Holland

Rising Star in Real Estate

Gary Anderson
Amy Breen
Herbert Dubuisson

Subcontractors

Mindy Nunez Airhart
Lawrence Bernard
Kurt Garris
Ben Gootee
Kyle Sharbonno

A special Excellence in Construction and Real Estate insert profiling all honorees will run in the July 30 issue of CityBusiness. A virtual event celebrating our honorees is scheduled for noon July 27. To register for the event, contact Marilyn Miller at mmiller@nopg.com. For more information contact Natalie Chandler at nchandler@nopg.com.

Biz Talks - Episode 50: Commercial Real Estate Market Improving – But Pandemic Effects Still Unclear

Episode 50: Commercial Real Estate Market Improving – But Pandemic Effects Still Unclear

04/13/2021 Rich Collins

The COVID-19 pandemic affected the residential and commercial real estate markets very differently. In New Orleans and elsewhere, home prices climbed as buyers sought more space and listings became scarce. The work-from-home trend, meanwhile, has emptied out office buildings while health restrictions reduced foot traffic in hotels, restaurants and stores. In this week’s podcast, Henry Shortess of SVN | Urban Properties gives his take on regional commercial real estate trends. LISTEN HERE!

Henry Shortess Bio

Henry Shortess joined SVN | Urban Properties as an agent in the summer of 2019. Prior to Urban, Shortess was an equity research associate for two years with Johnson Rice & Co., a boutique energy-focused investment brokerage firm in New Orleans. Shortess graduated from Louisiana State University with a Bachelor’s degree in Business Management, and was also a member of the men’s basketball team as a walk-on before earning a scholarship in his final semester. He holds a master’s degree in energy management from Tulane University’s A.B. Freeman School of Business. Shortess enjoys exploring all that New Orleans has to offer, including its world-class food and music scene.

Biz NO - Mixed-Use Development on Constantinople Under Construction

Mixed-Use Development on Constantinople Under Construction

03/29/2021 Site Staff

The former Fine Arts Theater at 1733 Constantinople Street will be home to new residences and commercial units. (Photo provided by SVN | Urban Properties)

NEW ORLEANS – A nearly $2 million historic redevelopment of the 11,600-square-foot building at 1733 Constantinople Street – next to Martin’s Wine Cellar – is slated to be complete this summer.

The architecture group CICADA and the construction team at Perrier Esquerré Contractors were tapped to bring this historic property back to life. The newly revitalized building will offer a variety of spaces for commercial lease on the ground floor and four residential apartment units on the second floor.  

“The restoration is a balance of old and new. It contributes to the heritage of the city by preserving the considerable cultural, social, and architectural history represented by the century-old Fine Arts Theater built in 1917,” said Perrier Esquerré Contractors Project Manager Lee Cooper in a press release. “And the design was redone using best practices to make the commercial spaces as responsive as possible to COVID protocols and sensitivities, such as private entrances for each space, and touchless entry.”

 The development will be anchored by DEVENEY, a local marketing firm, using 4,700 square feet and fronting Constantinople Street. The new units provide an inspiring workspace for design, technology, and engineering professionals, as well as contemporary food and beverage, fitness, and retail concepts. Currently, there is a planned fitness concept, as well as a boutique medical user that hopes to be part of the project.

“Being able to breathe new life into this building and bring it back into commerce in a thoughtful way has been one of the most enjoyable challenges we’ve worked on to date,” said CICADA Partner James Catalano. “We wanted to honor this historic structure by keeping its original theater spirit, while also adding new design elements and spaces that work for the modern user. Our team is proud to be a part of the larger revitalization of this Baronne Street corridor by reviving this historic neighborhood gem.”

SVN | Urban Properties is listing the three commercial downstairs units in the development, which are currently leasing at $22-25 per square foot gross. Click here for more information.

Biz NO - SVN | Urban Properties Adds Kate Whalen to Team

SVN | Urban Properties Adds Kate Whalen to Team

03/19/2021 Site Staff

NEW ORLEANS – SVN | Urban Properties, a New Orleans-based commercial brokerage, property management and development firm, has announced the addition of Kate Whalen to its brokerage team.

Whalen moved from the Dallas Market where she gained commercial brokerage expertise as an associate with White Box Real Estate. As an agent with Urban, she will broker real estate transactions for clients and the firm.  Whalen will serve tenants and landlords on Urban’s behalf. Whalen’s expertise will also aid in developing presentations, proposals, and market studies for brands and concepts looking to expand into the New Orleans MSA.

“Recruiting out of market talent at Urban is critically important as it brings new perspectives into our team while expanding our reach and expertise,” said Tim Thompson, head of brokerage at SVN | Urban Properties. “Kate is also originally from New Orleans, so she inherently understands the nuances of our city. We are ecstatic to have her perspective and personality as part of our team.”

Prior to this role with SVN | Urban Properties, Whalen spent the last four years in Dallas working in commercial real estate as a tenant representative at Whitebox Real Estate. Kate holds a bachelor’s degree in communication studies and a minor in public relations from the University of Alabama.

Whalen is excited to be back in New Orleans and is looking forward to getting reacquainted with all that the city has to offer. In her spare time, she enjoys traveling, cooking, and spending time in Audubon Park. 

Michael Bucher Made Partner of SVN | Urban Properties

New Orleans (November 10, 2020) – SVN | Urban Properties, a New Orleans-based commercial brokerage, property management and development firm, is pleased to announce that Michael Bucher has become a partner in the firm.

Bucher joins the firm’s three founding partners as the most recent addition to Urban’s executive team. Bucher initially joined the firm in the summer of 2017 as its Director of Project Management, responsible for managing SVN | Urban Properties' development and project management initiatives from entitlements through delivery. His current projects include the renovation and expansion of Avala Hospital in Covington as well as the historic renovation of the former Union Savings Bank Building at 353 Carondelet, New Orleans into the new headquarters for Fidelity Bank. 

“Mike has been the perfect fit for our team, his development expertise is invaluable, and I’m proud to announce his partnership,” said Eugene Schmitt, Director & Partner, SVN | Urban Properties. “Mike’s vigor and passion for our industry makes him a natural fit for our leadership team. We have a lot of projects in the pipeline and having Mike onboard in this role will help us grow in the trajectory we’ve envisioned for our firm.”

Prior to joining Urban, Mike served as VP of Development at Stirling Properties where he was responsible for leading new and ongoing development projects with a specialization in office and medical office product types. In addition, Mr. Bucher managed Stirling Properties’ New Orleans office at the Pan American Life Center, where he was responsible for new business development, specifically focused on the New Orleans market.

Mike is an active member of the Urban Land Institute (ULI), and the International Council of Shopping Centers (ICSC), for which he was a member of the Centerbuild “20 Under 40” inaugural class. Mr. Bucher holds a B.S. in Business Administration from Villanova University, and an M.B.A. from the University of Virginia’s Darden School of Business, with specializations in corporate finance and investment banking.

About SVN | Urban Properties

SVN | Urban Properties is a boutique real estate consulting, development, brokerage, and property management firm focused on urban projects in New Orleans. Clients are investors and business owners that value investing in socially vibrant urban projects that enhance neighborhoods to drive long-term value.  With backgrounds in development, finance, and asset management, coupled with the understanding of the local market, the firm is able to craft innovative and practical real estate solutions.

Connect on Facebook, follow on Instagram (@urban_properties) and LinkedIn. For more information, visit www.urbanproperties.com.

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