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Latest Press Releases
Developer also initiates pre-construction at Boston’s Seaport Square Parcel M1M2 this month
BOSTON – March 8, 2017 – Cottonwood Management Group is solidifying its presence in the East Coast real estate market with the opening of its new Boston regional office at 101 Seaport Boulevard in the burgeoning Seaport District. Simultaneously this month, the California-based asset management and development company has commenced pre-construction on its Seaport Square Parcel M1M2 development next door.
“This is a major milestone for our team, to open our new office space and to start pre-construction in the same month. M1M2 is Cottonwood’s first Boston project to break ground, and we look forward to expanding in Boston along with our other activities on the East Coast,” stated Alexander Shing, Chairman and Chief Executive Officer of Cottonwood.
One of the city’s largest and most anticipated developments in the Seaport, the M1M2 Project consists of 1 million+ square feet of mixed use development over 3.5 acres in Seaport Square. The residential component includes 730+ residential units, with two condominium towers and one luxury rental tower. In addition to the residences, the project includes 125,000 square feet of premiere two-story retail and restaurants centered around a vibrant public courtyard. Construction is scheduled to span three years with phased completion dates in late 2019 to early 2020.
“Cottonwood Management views the East Coast as critical to our long term strategic plans”, remarked Shing. “The M1M2 project embodies the creativity, luxury and 21st century sensibilities that will permeate all of Cottonwood’s future projects and investments. Our new Boston office allows us to develop our Seaport project while identifying other opportunities in East Coast urban centers.”
In addition to its regional office, part of Cottonwood’s Seaport Boulevard space will be used as the future sales center for the project’s residential component. Cottonwood is developing this space to be immersive and reflective of the technology, design, and amenities that will distinguish the property.
Cottonwood is preparing for an official groundbreaking for the project, anticipated in May 2017, to occur upon completion of the initial pre-construction phase of work.
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About Cottonwood Management
Headquartered in Los Angeles with offices in Boston and New York, Cottonwood Management is a privately-held real estate asset management and development company with over USD 2 billion in assets under management. Building on its entrepreneurial, private equity roots, Cottonwood combines in-house structured finance capabilities with their operational expertise to unlock the full value of real estate opportunities. Its structured finance and real estate teams are comprised of seasoned private equity, finance and real estate professionals with national and international expertise in acquisitions, asset management and development. In addition to Los Angeles, Boston and New York, the Company also manages real estate assets in other major US cities including San Francisco, Seattle, San Jose, Las Vegas, Phoenix and Houston.
Additional information is available at www.cottonwoodmgmt.com.
SVPs Edward Vydra and Mike Schumacher bring extensive expertise to Seaport Square's largest residential development
BOSTON – Sept. 7, 2016 - Cottonwood Management Group, a national real estate development and management company with Boston and California offices today announced the appointment of Edward Vydra to Senior Vice President and Mike Schumacher to Senior Vice President of Development. With nearly 50 combined years of expertise in their respective financial management and construction industries, Vydra and Schumacher will join Rebecca Mattson, Head of East Coast Development in the Group’s Boston office, to execute the plans for Cottonwood’s premier residential and retail development at Seaport Square Parcels M1M2.
“Throughout their careers, Ed and Mike have made positive and lasting impacts on communities across New England” says Alexander Shing, Chairman and CEO of Cottonwood Management Group. “Cottonwood is preparing for a momentous few months with the groundbreaking of our first development project in Boston. Ed and Mike’s expertise is invaluable as we look to create a state-of-the-art residential community experience reflective of the Seaport District’s dynamic, innovative spirit.”
Vydra will be instrumental acting as the leading senior project executive for the $850 million-plus Seaport Square Parcels M1M2, and cultivating growth and stability of the company’s real estate portfolio. A real estate expert with more than 25 years of experience, Vydra has overseen more than three million square feet of development and managed assets exceeding $1 billion throughout his career.
Prior to joining Cottonwood, Vydra served as a Managing Director at Taurus Investment Holding’s Boston office with key acquisition, asset management, and development responsibilities in its New England portfolio. Vydra, a Boston/New England real estate veteran has held similar management positions for Lend Lease Real Estate Investments, WS Development, and CareMatrix.
“I’m very excited to be joining Cottonwood at an unequivocal period of growth in the Boston and New England markets,” says Vydra. “Cottonwood’s collaborative, conscientious approach to high-end, mixed-use development is sure to both heighten and benefit the Seaport District’s community fabric. I look forward to continuing Cottonwood’s investment in and dedication to Boston and the thriving markets along the East Coast.”
Mike Schumacher, as Senior Vice President of Development, will oversee the successful implementation of all construction activities for the Cottonwood project in Seaport. In his role, Schumacher will lead project development strategy, design execution, and construction management. Schumacher brings 24 years of real estate expertise to the Group, having lead and contributed to nearly $1 billion in completed developments and asset improvement projects in New England.
Prior to Cottonwood, Schumacher held a 19-year tenure at Boston Properties, most recently serving as Vice President of Construction. Schumacher has been an integral team member for notable projects in Boston, including the 1 million-square-foot strategic repositioning of the Waltham office park Bay Colony, and the current $1 billion mixed-use development on the former Boston Garden site.
“From a development standpoint, Cottonwood’s Seaport Project will define the Seaport District with its leading edge design and significant commitment to homeownership,” says Schumacher. “I am thrilled to contribute to this landmark project and to continue to bring the Group’s vision of a diverse, neighborhood-oriented environment to fruition.”
Vydra earned his Bachelor of Science degree in Civil Engineering from Tufts University. Schumacher holds a Bachelor of Arts degree in Architecture from Princeton University.
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About Cottonwood Management
Established in 2011, Cottonwood Management, LLC is a privately-held real estate asset management and development company with over $2 billion in assets under management. Founded by a group of MIT graduates, Cottonwood Management’s team is comprised of a diverse group of dedicated, experienced real estate professionals with national and international expertise in real estate acquisition, asset management and development, paired with local market knowledge and depth of experience in Boston. Cottonwood Management has offices in Los Angeles and Boston, with assets under management in major cities, including but not limited to, San Francisco, San Jose, Los Angeles, New York, Boston, Las Vegas, Phoenix and Houston. Additional information is available at www.cottonwoodmgmt.com.
Contact: Kathryn Alexander
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