We work with a wide array of capital investment partners. Our two most prominent relationships reside with Principal and Morgan Stanley.
In 2003 [ t ] TwiningProperties structured its first equity joint venture with Principal Global Investors to develop Watermark Kendall, a 321 unit apartment tower. Frank Orioli, Director of Acquisitions at Principal, had previously worked with Twining on the 1 million square foot One Lincoln Street office building when Orioli was at Ohio STERS and Twining was with Morgan Stanley.
Given the quality of the Watermark Kendell, the Principal/Twining joint venture was able to recapture almost their entire investment prior to stabilization with a permanent loan with Metlife.
Based on this success, in 2013 Principal and Twining completed Watermark Kendall East, a 144 unit second phase.
In the late 1990’s [ t ] TwiningProperties CEO Alex Twining oversaw the Morgan Stanley Real Estate Fund’s largest development projects in the US, including the 25,000 acre new town The Woodlands in Texas, the 1 million square foot One Lincoln Street office building in Boston and the 3 million square foot North Bridge development in Chicago which included four hotels.
In 2001 Morgan Stanley tapped Twining as CEO of MetroNexus to restructure its $300 million data center platform. To maximize value, Twining downsized the operating company and brought on a new CFO, Neil Duncan from JP Morgan in 2001 and head of development, Andrew Bank in 2003. Together they disposed of the 3 million square foot MetroNexus portfolio across the US and Canada by repositioning the assets for new uses through re-zoning and redevelopment. Since the founding of [t] TwiningProperties in 2003, Morgan Stanley has pursued real estate investments as one of Twining’s strategic capital partners.
Morgan Stanley brought on [ t ] TwiningProperties to direct the 2.5 million square foot residential component of Seaport Square and Gale International as master developer for the 6.5 million square foot urban missed use project overlooking the Boston Harbor.