Real estate project seeking $1 billion debt/equity capital (funded in stages) for land acquisition and development


Real Estate

Company Type

Real Estate – Office, Retail and Residential


United States – Long Beach, CA



Investment Type


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Helping Great Companies Grow


  • Seeking $1 billion of debt and equity capital (funded in stages) for land acquisition and development
  • Four mixed use towers, public spaces, convention facilities and retail plaza/restaurants
    • Office: 340,000 SF – credit anchor tenant identified
    • Retail: 60,000 SF – includes conference space
    • Hotel: 400 rooms – only legitimate five-star hotel opportunity in region
    • Residential: 1,200 units – approved for condos/multi family
    • Site: 6.2 acres
  • Exceptional waterfront location in downtown Long Beach, CA
    • situated at the terminus of the Long Beach Freeway (710)
    • bounded by Ocean Boulevard to the north, Shoreline Drive to the west and south and the Molina office tower to the east
    • fully entitled with city development agreement and Coastal Commission approval
    • expected to be the landmark commercial structure in the greater Los Angeles area
    • unobstructed views of the California coastline, Pacific Ocean, Catalina and Los Angeles basin
  • Experienced management team
    • led by Michael Lutton of Tieback Holdings
    • substantial equity investment in the project
    • successfully developed dozens of major CRE projects
Helping Great Companies Grow


  • Extremely difficult to obtain entitled, prime-location sites in major metropolitan areas in California
  • Expected to be the center of Long Beach’s live-work and cultural experience, including diverse, upscale dining, entertainment and visitor experiences – over 100 quality restaurants nearby
  • Close to Toyota Grand Prix, Long Beach Jazz Festival, Catalina Ski Race, Aquarium of the Pacific, and the Queen Mary
  • Business friendly environment near Long Beach Convention Center; strong convention market; robust hotel occupancy and ADR
  • Between West Los Angeles (Brentwood, Bel Air, Beverly Hills), mid-Wilshire, downtown Los Angeles and Orange County
    • metro link between Long Beach and Los Angeles is the busiest line in the US
    • visibility from much of the southern California area
    • Port of Long Beach has the most traffic in US
    • In Enterprise zone – allows for EB-5 financing
    • construction underway on a landmark $2-billion-dollar gateway bridge (50 stories high; continuously lit at night) that will terminate onto Shoreline Blvd
Helping Great Companies Grow


Experienced management team led by Michael Lutton of Tieback Holdings, with substantial equity investment in the project. Expertise in real estate development, finance, leasing, brokerage, management, etc.

  • Largest approved development on the California coast
    • 6.2-acre site – fully entitled and approved
    • 500-foot height approved
    • 1,200 residential units
    • 400 hotel rooms (only 5-star hotel in the Long Beach area)
    • 340,000 square feet of office space (anchor tenant identified)
    • 18,000 square feet of retail space
    • 27,000 square feet of banquet space
    • 1,763 above-grade parking; 1,956 below-grade parking
    • residential values maximized at top of building – optimum views and sight lines
    • hospitality and office portions comprise the balance of the primary tower
    • integrated retail component
    • public observatory
    • private club
    • conference facilities
    • high-end fitness center
Helping Great Companies Grow


Michael Lutton


  • Co-founder of Tieback Holdings, LLC, which specializes in real estate development
  • 32 years of commercial and residential real estate experience in the development, management and sale of properties throughout the US
  • Developed over 15 million SF of commercial property and managed assets exceeding 120 million SF
  • Previously, served as Executive Managing Director for Cushman & Wakefield, Chairman and CEO for PM Realty Group, and President of the Irvine Company’s office and industrial divisions
  • At Irvine, had direct responsibility for Donald Bren’s (Irvine Company owner) “off ranch” portfolio
  • Left Irvine Company to acquire Houston-based distressed PM Realty Group with Jupiter Industries out of Chicago
  • Earned Real Estate Executive of the Year by Commercial Property News due to successful restructuring of PM Realty
  • Prior to Tieback, was Managing Member of a partnership with Goldman Sachs that developed the 33 story Sapphire Tower in San Diego

Randy Dunlevie

Executive Managing Director of Finance and CFO

  • Responsible for all phases of project finance, debt, deal structuring, accounting, financial reporting, taxation, budgeting, business plans, and investor relations
  • Extensive experience in finance, development, operations, acquisitions, and operations in multifamily, retail, and office. Senior Asset Manager at Argent Management
  • Oversight and financial forecasting/feasibility of a 15-acre urban redevelopment in downtown Los Angeles at 6th and Alameda
  • Previously, CFO & Senior PM at Birtcher Development & Investments
  • Managed retail and industrial property portfolio of approximately 300 tenants and 5 million SF, including the largest industrial lease contract in Southern California
  • Under-wrote all acquisition opportunities. Earlier was VP Finance and Director of Acquisitions at PLC Commercial, LLC.
  • Over-saw acquisition and development of entertainment and life-style centers ranging in size from 250,000 to 750,000 SF in major US markets
  • MS, Administration, University of California, Irvine & Los Angeles. CPA, State of California (Inactive).  US Marine Corps Veteran


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Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784


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