The Kor Group and Stork/Alma Development Group Begin Construction on 148-Room Downtown LA Proper Hotel

The Kor Group is an international real estate investment and management company with extensive holdings and development experience in commercial real estate properties. Since its inception in 1999, Kor has acquired and developed hospitality, residential, and office assets valued in excess of $2.5 billion. Central to Kor’s investment strategy is value creation through distinctive design and branding.  By fusing creative design with an agile investment and development discipline, Kor has amassed a portfolio of high performing assets and has built a signature brand translatable across its properties. Kor has acquired, repositioned and managed over 14 million square feet of residential, mixed use, hotel, commercial office and retail space. Kor has over $1 billion in active developments – 1.4 million square feet in the acquisition, development, or construction stage, including ground-up development, value-add repositioning, and adaptive reuse. For more information, visit: www.thekorgroup.com.

Contact: Alexis Murray-Merriman or Allyson Berkowitz

Alexis@njfpr.com or Allyson@njfpr.com/(212) 228-1500

Frank Stork and Channing Henry of Stork/Alma Development Group develop luxury and boutique lifestyle hospitality projects in Mexico, Costa Rica, and a variety of notable urban markets in the US.  The team takes an opportunistic approach to identifying underserved hospitality markets and building the operating, development, and financial strategies to realize those opportunities.  In addition to the Downtown LA Proper, its land holdings under development include 1,500 acres in Baja, Mexico and 400 acres in Southern Costa Rica.  Its partnerships include hospitality developments with the founders of Aman Resorts, Lomas Santa Fe Group, Luxury Frontiers, and Paces Properties. For more information, visit: www.storkdevelopment.com.

Led by the creators of the Viceroy Hotel Group, Proper Hospitality designs, brands, and operates high-end lifestyle hospitality experiences under the Proper Hotels and Residences and Avalon Hotels Brands. Each is a distinctive reflection of the vibrant community surrounding it, yet as a group they share a common belief in uncommon luxury, convenience of location, and world-class amenities provided by locally vetted innovators in food and beverage, technology, art, music, fashion, and wellness. Proper Hospitality currently manages Avalon branded hotels in Beverly Hills and Palm Springs and began rolling out the Proper brand with the opening of Hollywood Proper Residences in June 2016. Over the next few years, additional Proper Hotels and Residences are slated to open in other emerging urban innovation districts within dynamic U.S. cities, including San Francisco, Los Angeles, Austin and Santa Monica.  For more information, visit: www.properhotel.com. 

EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates a number of USCIS-authorized Regional Centers across the country, most notably in Washington, D.C., California, and New York, and has a portfolio of 19 current and completed projects. EB5 Capital has raised funds from investors in nearly 50 countries, maintaining a 100% project approval rate from the USCIS. It is one of only a handful of Regional Center operators that has returned capital to investors across multiple transactions.  For more information, visit: http://www.eb5capital.com.

Experience has made McGuire Builders, Inc. the industry leader in hotel renovation and construction since 1985.  The cornerstone of their success has been the longevity of their client relationships due to their innate understanding of the special needs and expectations of hotel developers and owners.  McGuire Builders has a keen focus on historic adaptive reuse projects throughout Southern California.  Recently completed high-profile projects include The Sheraton Grand Los Angeles at The BLOC at 7^th & Hope, The Viceroy L’Ermitage in Beverly Hills, Sheraton Gateway LAX, The Westin Snowmass Colorado and The St. Regis Aspen Resort in Colorado.  With hospitality projects including over 35,000 guestrooms, restaurants, clubs and other hospitality repositioning projects, McGuire Builders offers sophisticated building solutions and an unwavering commitment to quality, schedule and owner satisfaction.  For more information, visit: http://www.mcguirebuilders.net