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Rainer

Dakota Pacific Real Estate Partners Developing Downtown Murray, UT

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MURRAY, UT., November 18, 2015 –Lane Critchfield, Managing Director of Dakota Pacific Real Estate Partners (DPREP), a JR Miller Enterprises Company, announced today that they have signed an Exclusive Developer Agreement with Murray City.

Murray is a city situated on the Wasatch Front in the core of the Salt Lake Valley. On November 17, 2015 Murray’s City Council unanimously passed an Exclusive Developer Agreement giving JR Miller Enterprises the exclusive right to develop within the Murray City Center District, which comprises the majority of downtown Murray. Future development will include a new city office building, parking decks, performing arts center, private development, and new park infrastructure. “We are really excited for the opportunity to work with Murray City—Mayor Eyre, the Redevelopment Agency, and the City Council are dedicated to making Murray even better than it already is,” said Stan Hoffman, a principal at JR Miller. “We will provide the necessary expertise and capital to provide Murray with a great revitalized downtown.”

Over the next several months JR Miller’s development team will work closely with Murray City as they finalize plans for each phase of development. Land used for development will consist of property already owned by Murray City, Murray RDA, and some private parcels.

Dakota Pacific Real Estate Partners Developing Marriott Hotel

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AUSTIN, TX., November 1, 2015 –Lane Critchfield, Managing Director of Dakota Pacific Real Estate Partners (DPREP), a JR Miller Enterprises Company, announced today that they have completed negotiations and will be developing and operating a Marriott TownPlace Suites hotel, located in the Tech Ridge Center in Austin, TX.

The Marriott TownePlace Suites hotel is a 4‐story 122 room (67,000sf) limited service hotel located in the northeastern tech center of Austin, TX. “This hotel will fill the current market demand for a mid‐priced extended stay located near major manufacturers and technology companies,” said Critchfield. Tech Ridge Center is located 11 miles northeast of downtown Austin and is a highly trafficked office, retail, and restaurant area. Within this area are several large tech firms, which are in the process of or have recently completed building expansions. Those companies include Apple, Applied Materials, Dell, Flextronics, GM, IBM, National Instruments, and Samsung.

The development is in partnership with Bedford Lodging, led by Jeff Blackman along with a Texas based family investment office. The partnership was formed to strategically develop a hotel portfolio; several additional development opportunities are in the pipeline. Jeff has significant development, acquisition and operating experience serving in key executive positions in the hospitality industry. He has been involved in over 100 ground up hotel developments. “We are excited for this project because it is not only in a perfect location, but our hotel management and development teams’ are top notch—having extensive hotel experience and proven tract records,” said Jason Robbins, a principal at DPREP.

The Marriott TownPlace Suites is located at Tech Ridge Blvd. & W Canyon Ridge Dr., Austin, TX 75753

Dakota Pacific Real Estate Partners Acquire RLH Building

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SPOKANE, Wash., October 16, 2015 –Lane Critchfield, Managing Director of Dakota Pacific Real Estate Partners, a JR Miller Enterprises Company, announced today that they have completed the acquisition of the RLH Building, located on the north bank of the Spokane River in downtown Spokane, WA.

The six-story RLH office building includes 100,000 square feet of office space and a 252 car parking garage. Major tenants include Red Lion Hotels Corporation, HomeStreet Bank, TransCanada Corporation, Mutual of Enumclaw Insurance, Wipfli LLP, and Farmers Insurance. “When targeting investment opportunities, we look for experienced management teams operating sustainable business models, and we are pleased to have that in Goodale & Barbieri,” said Critchfield. “Their history of development and management in the Spokane market is unsurpassed and the property fits our investment criteria very well.” The RLH Building was constructed by Goodale & Barbieri in 1985, and the Company has managed it since its opening. “The location is ideal, and we know the property well,” said David Peterson of Goodale & Barbieri. “It’s a fantastic building and we’re confident we’ll continue to attract strong tenants.”

The RLH Building, 201 W. North River Drive, sits across the Spokane River from the expanded Spokane Convention Center and Riverfront Park. The revitalization of the Spokane riverbank, with the upcoming $60 million renovation of Riverfront Park, makes this location an attractive asset for Dakota Pacific Real Estate Partners.