Two former executives and a third executive from Urban Edge Properties and Federal Realty Investment Trust have joined forces to form their own company, Hg80.
Chris Weilminster and Timothy Mount are founding partners of Hg80, a real estate investment and development company dedicated to assisting clients with their projects. Leasing and product sales. Asset management; transaction structuring; And planning and design. Don Briggs is the new firm’s managing partner.
Wilminster announced the debut of Hg80 in a LinkedIn post this week. He and Mr. Briggs have known each other for more than 20 years and worked together at New York-based Urban Edge and Rockville, Maryland-based Federal Realty, two REITs that are retail and mixed-use landlords. was. Mount, a design expert and urban planner, is a founding partner of his Street-Works Studio in Port Chester, New York.
Headquartered in Boston, Hg80’s team has long-standing relationships with the retail and real estate communities, as well as experience in development projects and master planning, Wilminster told Coster News on Friday.
“We believe there is an opportunity and a real need for either family offices, pension funds or private equity groups that manage very large properties… [to] Take our vision directly and turn it into something that adds real value and creates community where that property exists,” he said.
Hg80 said in a marketing brochure that it is looking to partner with owners and investors to reposition and redevelop underutilized properties into retail-driven mixed-use destinations. Working with lenders to stabilize distressed properties. Work with towns to form public-private partnerships. Invest together with owners and developers. Provide advisory services. and acquire retail, mixed-use, and urban real estate in New England, the Northeast, the Mid-Atlantic Coast, the Southeast, and Florida.
As for the company’s name, Briggs explained that he and his partners wanted to use a name associated with Mercury, the Greek god of speed, luck, and commerce. And in numerology, 80 is associated with buildings that benefit the community. According to Briggs, his Hg80, the periodic symbol and atomic number for the element mercury, embodies all of these ideas.
Wilminster, Urban Edge’s former chief operating officer, left the company about a year ago. During his four years with the company, he was responsible for managing all of the REIT’s shopping center operations and driving redevelopment activities, with a focus on the New England to Washington, D.C., corridor.
Prior to that, Mr. Wilminster worked for approximately 29 years at Federal Realty, where his last positions were executive vice president and president of the REIT’s mixed-use division.
Mr. Briggs worked with Mr. Wilminster for many years at Federal Realty, then joined him when he moved to Urban Edge, where he served as president of development. For the past two years, Mr Briggs has served as Managing Director at Eastern Real Estate.
Mr. Mount and his design firm, along with Mr. Wilminster and Mr. Briggs of Federal Realty, have worked on a variety of projects, including Assembly Row in Somerville, Massachusetts, and Pike and Rose in North Bethesda, Maryland. Ta.