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Asbury
Partners, LLC
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Larry Fishman |
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Asbury Partners, LLC was named master developer for Oceanfront
Asbury, a 56-acre waterfront redevelopment project in Asbury
Park, New Jersey, on August 1, 2001. The company is a joint
venture partnership of MD Sass Municipal Finance Partners
III, LLC, and Ocean Front Acquisitions, LLC, specifically
formed for the long-term commitment to the redevelopment
of Asbury Park. The principals of both firms offer expertise
in successfully financing, marketing and acquiring real estate
in the state of New Jersey.
Asbury
Partners is commissioning all design, engineering and approval
functions, and will handle infrastructure improvements
during the course of the redevelopment project. In essence,
the partnership will serve as a gatekeeper during the development
stage, working closely with city officials and assembling
multiple developers as a critical component of the overall
projhttp://oceanfrontasbury.com/images/fishman_head.jpgect.
Asbury Partners is expected to fund at least $50 million
toward the effort, including in infrastructure, marketing
and approval activities. The firm has already invested
a significant portion of that amount to launch the project.
Encompassing an estimated $1.25 billion in total economic
development upon completion, the project will ultimately
restore Asbury Park to its renowned stature as the “Jewel of the Jersey Shore.” It
includes an unprecedented effort to incorporate urban
empowerment priorities in the overall redevelopment goals.
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ASBURY
DEVELOPMENT TEAM
