CenterCal Forms Partnership for Redondo Beach Waterfront Revitalization Effort

From a press release:

In a move demonstrating the growing momentum of its proposed Redondo Beach Waterfront revitalization, CenterCal Properties has announced it has entered into a joint venture with certain affiliates of Westport Capital Partners LLC (“Westport”), a real estate investment management firm, to continue work on the South Bay project.

The announcement comes as CenterCal’s Redondo Beach revitalization, the Waterfront, enters its environmental review stage, a significant milestone along the path toward final public approval.

Westport is a welcome addition to the Waterfront team, with the principals of Westport having partnered with the principals of CenterCal on several successful projects in the past.

“We are thrilled to have Westport Capital Partners LLC on board,” said Fred Bruning, CEO of CenterCal Properties. “Our team has always been very excited about this project, and with Westport joining us, we’re more optimistic than ever about the promise it holds for Redondo Beach.”

Westport has a rich and deeply rooted history in the local area. The investor showed strong interest, in large part, because of its familiarity with the Redondo Beach community.

“I’ve known the team at CenterCal for a long time, and we’ve done a lot of great work together over the years,” said Greg Geiger, Principal at Westport and a long-time resident of the South Bay. “But beyond that, we know this community and we know that the Waterfront is going to be a perfect fit here. We are very excited to be involved in this project.”

--City News Service

PHOTO Patch photo credit: Penny Arévalo.