Ownership
LAZ Parking has leveraged its core competency into equity ownership positions in real estate transactions which have a paid parking component.
With an eye towards underperforming urban land we purchase downtown sites, increase cash flow through innovative parking management techniques and "land bank" these sites until market conditions dictate a higher and better use.
In addition, we joint venture opportunities that have a parking facility as one component of a commercial or multiuse project, teaming with strategic partners who display the same expertise and integrity within their respective discipline of real estate. We co-invest equity in a project, with each venture enhancing the value of the asset through progressive management of each of the project's components.
With nearly 25 years of experience, we have developed lending relationships which understand parking as a financial asset and have additional equity sources beyond ourselves for larger projects.
Examples of our transactional work include:
Land
- Marpeq LLC-18 acres of land in downtown Hartford
- Fiesta Centre LLC-Surface parking lot master leased to the State of Connecticut
- Courthouse Partners-Surface parking lot serving the Hartford Courthouse
Joint Ventures
- Gateway Center-70,000 square foot office building and 450 space garage
- CT Expo Center-104,000 square foot public assembly facility and 2,000 space parking operation .