JMI Realty is a private real estate investment and development company that was organized in 1992 as the real estate investment subsidiary of JMI, Inc., the investment management company of the John Moores family. John Moores is the owner of the San Diego Padres, founder of BMC Software, and an active philanthropist. JMI Realty is now owned by John Moores and John Kratzer and has offices in San Diego, California and Austin, Texas. Since its formation, JMI Realty has pursued investment and development opportunities across all product sectors with a specialization in lodging and an expertise in processing complicated urban, mixed use development projects.
Perhaps JMI Realty’s most impressive accomplishment began in 1998 when JMI Realty was appointed by the City of San Diego and the San Diego Padres to act as the Master Developer of the Ballpark District. At that time, JMI Realty began the planning and implementation of the Ballpark District Master Plan which has resulted in over $3.0 billion of redevelopment, and is viewed nationally as a template for successful urban revitalization.
In addition to its role in the Ballpark District, JMI Realty has also been active in developing hotel, multifamily and office projects outside of downtown San Diego. JMI Realty currently manages a real estate investment portfolio valued at approximately $600 million and is developing several other projects including two boutique hotels, one in Denver, Colorado and another in Austin, Texas. JMI Realty was also selected by the City of Fullerton as the Master Planner for the Fullerton Transportation Center. In addition, JMI Realty has sold approximately $550 million of land, office, hotel and multifamily investments over the last several years.
Some of JMI Realty’s marquis achievements include:
- Revitalization of the Ballpark District of downtown San Diego and establishment of a national template for urban renewal projects
- Development of the 32-story Omni San Diego Hotel and The Metropolitan Condominiums, the first mixed-use project combining a hotel and private residences in Southern California and a landmark in downtown San Diego
- Sales of the Metropolitan Condominiums exceeded an average of $900 per square foot (PSF), the highest PSF price achieved at that point in downtown San Diego
- Development of the Hotel Solamar, the first urban boutique hotel in downtown San Diego
- Development of Paseo del Mar office campus, which achieved the highest PSF rents in the Del Mar office submarket and the highest recorded sales price for a suburban office project
- Acquisition and renovation of Phoenix Inn Suites, a 937-key, 10-hotel chain located in the Northwestern United States
- Realization of meaningful returns to investors on sales of assets including Hotel Solamar, San Diego Marriott Del Mar, Paseo del Mar, Casoleil, and a variety of land sales