Added Sugarman, “iStar Financial has continued to invest significantly in the redevelopment of Asbury Park. From the recent landscaping and beautification efforts that tie the waterfront to the downtown area, to our acquisition of additional development sites and the start of our VIVE Townhome community, iStar is working to drive the waterfront redevelopment forward.”“This creates a unique opportunity for us to accelerate the redevelopment of the waterfront area,” said Asbury Park’s Mayor, Ed Johnson. “The timing is right for all parties to work together for the best interest of this great City. We’re excited about the opportunity for forward movement that this announcement brings, and the City embraces these signs of momentum and progress, as we collectively work toward one vision for the benefit of all of Asbury Park.” About iStar Financial iStar, which operates under the name Asbury Partners in the Asbury Park marketplace, is one of the largest investors in luxury condominium, multifamily and master-planned residential developments throughout the United States, having financed and invested $10 billion in residential projects since 1993. iStar's portfolio has included interests in over 18,000 condominium units in the nation's top markets and 65,000 acres in master planned communities having the potential for an estimated 50,000 single family and multifamily units. The Company's unique, fully-integrated platform extends from property acquisition, entitlement development and construction, through financing, asset, property and portfolio management. iStar Financial, focused on the real estate industry, is traded on the New York Stock Exchange under the symbol "SFI.” Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com. About Madison Marquette Madison Marquette is a Washington, D.C.-based investor, developer and operator of retail and mixed-use real estate throughout the United States. The company specializes in creating unique destinations that respond best to consumer preferences. With regional offices in Los Angeles, Philadelphia, New York, Charlotte, San Francisco, Boca Raton, Seattle, San Diego and Asbury Park, Madison Marquette’s experience and capabilities extend nation-wide. The company maintains a sophisticated in-house operating capability and oversees 18 million square feet of retail and mixed-use real estate. This diverse portfolio includes properties that Madison Marquette both owns directly and manages and leases on behalf of third-party owners.
For more information about the company, please visit www.madisonmarquette.com.