{"id":1004049782,"date":"2012-11-12T09:22:50","date_gmt":"2012-11-12T17:22:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004049782"},"modified":"2022-12-08T23:28:56","modified_gmt":"2022-12-09T07:28:56","slug":"joshua-green-corp-invests-200m-in-urban-renaissance-group","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/joshua-green-corp-invests-200m-in-urban-renaissance-group\/","title":{"rendered":"Joshua Green Corp. Invests $200M in Urban Renaissance Group"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004049786\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/joshua-green-corp-invests-200m-in-urban-renaissance-group\/joshua-green-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg\" data-orig-size=\"745,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Joshua Green Building\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg?w=745\" class=\"alignright size-medium wp-image-1004049786\" title=\"Joshua Green Building\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg\" alt=\"\" width=\"300\" height=\"241\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg 745w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg?resize=300,242 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>With an investment valued at $200 million, the Joshua Green Corp. has taken its relationship with real estate operating company Urban Renaissance Group L.L.C. to a new level. JGC contributed its $150 million real estate portfolio, effectively merging its assets into URG&#8217;s 6 million-square-foot operating platform, and the investment firm also agreed to throw in as much as $50 million to support URG&#8217;s new fund, Urban Renaissance Investment Partners L.L.C.<\/p>\n<p>The transaction is indicative of a significant turning point for both Seattle-based companies. For JGC, a family-owned business that has been investing in private operating companies for decades, the move marks an expansion of the firm&#8217;s real estate business strategy. For the six-year-old URG&#8217;s part, having JGC&#8217;s backing paves the way for substantial growth. JGC&#8217;s $50 million boost will allow for greater participation in joint-venture deals with leading institutional investors and additional co-investment opportunities, for a total of $1 billion of investment potential.<\/p>\n<p>&#8220;This investment provides us with an extraordinary balance sheet, allowing URG to acquire significant assets on its own account, to enhance services to existing clients, and to expand into additional markets,&#8221; Patrick Callahan, founder and CEO of URG, said in a prepared statement.<\/p>\n<p>URG is now managing JGC&#8217;s 500,000-square-foot portfolio, of predominantly grocery-anchored retail centers and office properties in metropolitan Seattle and Spokane, Wash. The collection includes the century-old Joshua Green Building, which is where the relationship between JGC and URG began. In 2007, JGC tapped URG to spearhead the redevelopment of the 108,000-square-foot tower in downtown Seattle. Ties between JGC and URG were further reinforced earlier this year, when the companies joined forces on the underwriting and acquisition of Plaza 600, a 210,000-square-foot, 20-story office tower in Seattle.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With an investment valued at $200 million, the Joshua Green Corp. has taken its relationship with real estate operating company Urban Renaissance Group L.L.C. to a new level.<\/p>\n","protected":false},"author":969,"featured_media":1004049786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21742,21785,21749,15],"tags":[],"class_list":["post-1004049782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-latest","category-property-management","category-retail","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Joshua Green Corp. 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Invests $200M in Urban Renaissance Group\" \/>\n<meta property=\"og:description\" content=\"With an investment valued at $200 million, the Joshua Green Corp. has taken its relationship with real estate operating company Urban Renaissance Group L.L.C. to a new level.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/joshua-green-corp-invests-200m-in-urban-renaissance-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-12T17:22:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:28:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Joshua-Green-Building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"745\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joshua-green-corp-invests-200m-in-urban-renaissance-group\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/joshua-green-corp-invests-200m-in-urban-renaissance-group\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Joshua Green Corp. 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