Real Estate
Real Estate Advisory Services
Mr. Alpert’s passion for acquiring and developing residential and commercial real estate began in Oregon in the 1970s where he was engaged in the private practice of law. Starting in 1977, he oversaw a boutique law practice focusing on Oregon’s first-in-the-nation land use laws and public policies aimed at preserving the environment while encouraging urban growth. While his law practice maintained a focus on business, finance, land use, strategic and policy planning, real estate investments soon began to occupy his time. His initial investments included with a number of diverse investments, including historic building rehabilitation, urban redevelopment, multi-family projects and owning and operating restaurants and a golf course.
During the 1980s, Mr. Alpert acquired an intriguing parcel of land along a new freeway 20 minutes from downtown Dallas and called it Falcon’s Lair. The 1,200-acre environmentally sensitive, mixed use, master planned community evolved to become a primary enterprise for Mr. Alpert for the next 25 years and today provides a testament to Mr. Alpert’s commitment, passion and due diligence. Following a series of extremely complex steps, including major entitlements such as rezoning and environmental permitting, partnering with several governmental entities and acquiring major private partners with significant financial commitments, the Falcon’s Lair community has evolved into a showplace for sustainable development, harmonious living and economic success.
Other of Mr. Alpert’s residential projects in the 1980s included the acquisition and renovation of oceanfront property in Golden Beach, Florida between Miami and Ft. Lauderdale as well as a property in the heart of Paris, France.
Mr. Alpert’s work in the 1990s included a unique and exciting combination of major projects. In 1991, he assembled a limited partnership composed of New York investors to acquire, re-energize and successfully re-sell the prestigious Ipswich Country Club near Boston. This extraordinary turnaround of this marquee asset was hailed in the Boston-area media as comparable to the Raising of Lazarus. When he sold the club to ClubCorp in 1994, Mr. Alpert retained life memberships in the Ipswich Country Club for himself, his partners and their families. Today, the Ipswich Country Club serves as the center of activities for many satisfied families who populate Boston’s prestigious North Shore communities.
Starting in 1994, on behalf of a national hotel developer, Mr. Alpert spearheaded negotiations which culminated in a public/private partnership resulting in the successful development of a hotel, exhibit hall and convention center known as Hampton Inn and Suites and Rodeo Conference Center in Mesquite, Texas.
In 1999, Mr. Alpert acquired a key 3.55 acre parcel in the Uptown area of Dallas, the Arena site, adjacent to what would become known as Victory Park, home of the Dallas Mavericks and Dallas Stars. The respective team owners, Ross Perot, Jr. and Tom Hicks partnered with the city of Dallas to construct a 70-acre, $3 billion dollar mixed use development incorporating Mr. Alpert’s original site.
Mr. Alpert’s progress on the Falcon’s Lair mixed use, master planned community continued throughout the ’90s and 00’s until 2010 when Ceradimm took the project over.
Complex agreements with the city of Mesquite and the Mesquite Independent School District resulted in Mr. Alpert obtaining approval for a Tax Increment Finance (TIF) zone which provided an additional $30 million of funding without raising taxes on the property owners within the development, as well as a commitment from the city to fund $10 million toward a new interchange on I-20 and over $3 million in additional project infrastructure.
Today most of the single-family land has been sold and developed, and the now city-sized Falcon’s Lair development is home to over 4,000 residents. Master developer Hillwood, (a Perot company), as well as homebuilders D.R. Horton, Standard Pacific, Newmark and Horizon Homes participated in the Falcon’s Lair Master Planned Community. These builders have been key in honoring Mr. Alpert’s vision with that of an environmentally friendly “green” community, as well as the ongoing preservation of first class swimming facilities, community clubhouses, well-maintained landscaped boulevards and other first class amenities, all guaranteed by active and engaged homeowner’s associations established by Mr. Alpert.
Now that the Great Recession has faded in memory, and the Dallas/Ft. Worth metropolitan area is booming once again, Ceradimm has turned its attention to the next phase of the project, the 625-acre Falcon’s Lair Business Park along I-20. The recent announcement by Texas Department of Transportation (TXDOT) that subject to final selection and entitlement processes the major 1-20 intersection of Dallas’ outer loop road, SH 190, will now be located at Falcon’s Lair has created substantial interest from the investor community and rejuvenated the commercial opportunities offered by the Falcon’s Lair development. Ceradimm is currently working actively with a major Dallas-based developer and the City of Mesquite, TX on the exciting new prospect for the already-zoned and environmentally permitted project to proceed with a combination of retail, business, and high-density residential uses. In addition, a specially-authorized 2009 act of the Texas Legislature has now cleared the path for infrastructure financing that had previously been committed by Citigroup, but was put on hold as the recession approached.
In 2006, Mr. Alpert re-established a Pacific Northwest presence in order to pursue” investment opportunities in the flourishing Seattle market. These include both urban and suburban ultra-green and sustainable projects that fit well with the lifestyle and beliefs gaining prominence worldwide, but especially in the northwestern United States.
To support these efforts along with leading green architects, builders, environmental and booster groups and city officials, Mr. Alpert assembled a blue ribbon “Green Team” to advise him on cutting edge technology and construction techniques to achieve the ultimate mix of forward-looking sustainable development (where LEED is only the beginning) and financial feasibility for his upcoming projects.
Given the opportunity to partner with a major New York developer on an iconic high rise tower project in downtown Seattle, consulting for a major property owner in the city of Federal Way on a mixed use re-development project, and working with the city of Auburn on a downtown mixed use development, Mr. Alpert utilized the Green Team concept to promote innovative design techniques that are both cutting edge and economically feasible
Other Seattle-area municipalities where Mr. Alpert has actively working on public /private partnerships and other investment opportunities include Auburn, Bellevue, Des Moines, Federal Way, Gig Harbor, Issaquah, Kent, King County, Kirkland, Renton, Sammamish, Seattle, Shoreline, Snohomish County and Tukwila.
In addition to Ceradimm’s own investments, the company recently began to provide project management and consulting services to outside property owners, investors and developers. With extensive experience in complex projects, Ceradimm is able to provide expertise in all phases of the land development process, including project formulation, civic representation, professional services negotiation, all phases of project financing and re-financing, as well as all-important disposition strategies.
In short, Ceradimm is able to ensure client satisfaction by providing highly personalized expert guidance and advice to maximize investment potential.