SAG was the financial advisor to the Universal Boulevard Property Owners Association and Orange County regarding the public and private development of the area surrounding the 10 million square foot convention center, the second largest center in the U.S. Assets to be developed included 5,000 convention hotel rooms; 500,000 square feet of retail, restaurants and entertainment; 10,000 parking spaces; a 3-mile elevated transit system; and seven pedestrian bridges.
SAG focused on both public and private investments. From the public perspective, SAG worked with existing and potential new investors to create a Community Development District (CDD) that would be empowered to self assess to fund infrastructure and to implement an additional 1% sales tax to fund the transit system. From the private investment perspective, SAG worked with the client team to solicit private investment for the hotel and retail components. Investors were identified for Phase I of the retail (250,000 sf) and for the first 1,500 room hotel.
Components: Retail, Hotel, Mass Transit, Infrastructure
Project Value: $2 billion