New Company to Develop Retail Projects in California

NEWPORT BEACH — California-based Hopkins Real Estate Group has entered into a partnership with Rockwood Capital Corp., a real estate investment company with offices in San Francisco and Greenwich, Conn., to develop, redevelop and acquire retail properties in California.

With the formation of the new company, Rockwood Capital's Fund V has initially committed up to $50 million of equity with HREG in the acquisition, development and redevelopment of retail projects in the state.

Rockwood/Hopkins LLC's first project, Talega Village Center, is located within the Talega development in San Clemente. The company will be developing a neighborhood center of approximately 130,000 sq. ft. on the 10-acre site.

Rockwood/Hopkins is currently working on Mira Loma Marketplace at the southwest corner of Interstate15 and Limonite Avenue in Riverside County, and Menifee Valley Crossings at the northeast corner of McCall Boulevard and Interstate215 in Sun City.

Rockwood Capital currently manages a real estate portfolio worth $2 billion. Since 1980, it has invested more than $1 billion through its equity investment funds and special purpose partnerships. Its investments have included acquisition, renovation and development of office, retail/commercial, residential and hotel projects, with a vast majority completed via equity joint ventures with local operating partners.

Rockwood Capital's Fund V is a fully discretionary, closed and commingled real estate fund with capital commitments of $460 million.

HREG is known in Southern California for the creation of neighborhood and community shopping centers in urban in-fill and redevelopment areas. Hopkins also specializes in mixed-use commercial projects.

Designs Complete for San Diego Mixed-Use Development

San Diego-based KMA Architecture & Engineering has completed designs for Deca, a $23 million mixed-use project by residential developer UP. Inc.

Highland Partnership is the general contractor.

Deca is located among 1920s-built Art Deco buildings along the Park Boulevard corridor in the Hillcrest section of San Diego. The project involves completely reconstructing an existing storefront fashioned. Many of its elements will be incorporated into Deca's overall design - from silver doors with round glass galley windows to gridded glass block accents, prominent canopies,and commercial blade signage.

The building mass will be set back from the storefront to reduce bulk and make room for outdoor living space.

Deca's 37 residences will each offer patios, balconies and terraces.

Some homes will include multiple balconies, while others feature wraparound terraces that continue the Art Deco theme with smooth, intersecting geometric shapes and angles.

Keeping in step with the area's pedestrian-oriented atmosphere, Deca will have street-level commercial and retail areas along Park Boulevard, with two levels of subterranean parking for residents and shoppers.

A spacious public plaza at the corner of Park Boulevard and Robinson Avenue will replace the existing parking lot and provide for an outdoor cafe.

A sunlit interior courtyard and lush common areas will round out Deca's retro-modern style.

UP Inc. principals Mike McPhee and Bruce Leidenberger are overseeing the development. The KMA architectural team includes Jack McKeown (principal-in-charge), Neville Willsmore (project manager) and John Hilgeman (project architect). KMA's engineering division will provide mechanical engineering services.

Other project stakeholders include Nowak+Wiseman (structural engineer), SB&O (civil engineer), TMAD (electrical engineer), Marum Partnership (landscape architect) and Utility Specialists (consultant services).

UP Inc. is the urban residential development division of La Jolla Pacific Development Group, a diversified real estate development company with experience in commercial, residential and mixed-use properties. The company has been actively engaged in the acquisition, development, and ownership of real estate development projects throughout the United States for 20 years, completing projects from condominiums to large power centers, ranging in size from 45,000 to 400,000 sq. ft.