We are deeply saddened to confirm the passing of our Chairman and CEO Doug Shorenstein.
Doug had been ill for some time and fought a courageous battle with his illness. Through it all, he maintained a positive and hopeful outlook, and he remained steadfastly focused on serving his family, his colleagues and his community.
We will miss him dearly.
Shorenstein Realty Investors Nine, L.P. (“Fund Nine”) was formed in 2007 with $2.062 billion of committed capital, including $154 million committed by Shorenstein; it was invested over a 52-month period.
Fund Nine made equity investments in the following properties:
Market Square, a 1.1 million square foot two-building office and retail complex located in San Francisco, California.
Fund Nine made debt investments relating to the following properties:
In March 2010, Fund Nine assumed ownership of Santa Clara Towers through a consensual foreclosure.
In April 2010, the Moffett Towers loan was extended and restructured.
In October 2012, Fund Nine purchased the remaining interest in 850 Third and now owns 100% of the property.
In December 2013, Fund Nine completed a partial buyout of its joint venture partner in Park Avenue Tower.
The 650 Madison Avenue mezzanine loan was repaid in June 2010.
The 1200 New Hampshire Avenue and 2300 M Street senior and junior mezzanine loan package was repaid in October 2010.
The 660 Madison Avenue junior mezzanine loan, B-Note, and C-Note were repaid in December 2010.
The 1180 Avenue of the Americas senior and junior mezzanine loan package was repaid in May 2011.
The Moffett Towers subordinated junior loan interest was repaid in October 2011.
The 14 Wall Street senior and junior mezzanine loan package was sold in April 2012.
The 450 Lexington Avenue senior mezzanine loan was sold in June 2012.
The 2600-2800 Colorado Avenue loan was repaid in June 2013.
Fund Nine’s interest in the Park Avenue Tower joint venture was sold in July 2014.
The Reserve was sold in January 2015.