Sydney, Australia, June 19, 2020 (GLOBE NEWSWIRE) -- Leading Australian residential and retail developer Crown Group has announced the company’s new Los Angeles division with the appointment of Patrick Caruso as the Head of US Development and Samuel Sunito as a Development Associate. Crown Group is a leading Australian real estate group specializing in mixed use development and investment. The group recently announced its first move into the US market to develop a mixed-use high-rise condominium and hotel tower that will bring a touch of the enviable Aussie lifestyle to LA’s burgeoning Downtown district.

“Patrick and Samuel have formed a great team as the foundation for our new US development effort,” said Crown Group CEO Iwan Sunito. “We are very bullish on the LA market, even given the recent economic challenges. With the right team in place, we are confident that our efforts to bring this innovative mixed-use tower will be successful.”

As Head of US Development, Caruso leads Crown Group’s expansion to the United States, responsible for the origination and delivery of development projects to grow Crown Group’s pipeline. A native of Australia, Caruso is ideally suited for the role with an extensive background in development spanning over 15 years. Prior to coming aboard with Crown Group, he was with Dexus Limited, a leading Australian real estate investment trust with $31.8 billion of funds under management. He was responsible for the sourcing and execution of development opportunities, including new deals and acquisitions, as well as re-positioning existing assets to create value. Notable projects included 250,000 square foot, office tower, 105 Phillip Street, Parramatta ($229m) and 160,000 mixed use healthcare tower, North Shore Health Hub, Sydney ($224m). Prior to Dexus, Caruso held positions at Walker Corporation Pty Limited, Australia’s largest private diversified real estate developer. Notable projects included 2.8m square foot, mixed use office development, Collins Square, Melbourne ($2.5bn) and 350 lot master planned community, Appin Valley Estate, NSW ($100m). He is a graduate of the University of Technology with a Bachelor of Property Economics and Macquarie University with a Postgraduate Certificate in Applied Finance.

Samuel Sunito serves as a Development Associate with Crown Group. He previously worked as a Sales Executive for the company, following his graduation from the University of Southern California’s Marshall School of Business where he received a degree in Business Administration. In his role as Development Associate, he provides key support for the group’s forthcoming mixed-use condo and hotel planned for Downtown LA.

Crown Group is progressing entitlements with the Los Angeles City Hall for the proposed tower, which is earmarked for the southeast corner of South Hill and 11th streets at the convergence of Downtown’s financial, fashion and South Park districts. The striking 43-story tower has an inspirational design by world-renowned Koichi Takada Architects and is destined to redefine the Downtown skyline. It will embody Crown Group’s philosophy of melding inspired architecture with a futuristic vision of a new way of living, to become an iconic landmark for the city. The project at 1111 Hill Street is expected to be completed in 2025. 

The high-rise of the building will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors and a façade design that references California’s gigantic ancient redwood trees. A dramatic street canopy will ground the tower and incorporate a “breathing green wall”, designed to improve the city’s air quality and introduce a unique landscaping feature to the Downtown streetscape.

Crown Group’s LA office is also in discussions with several lifestyle hotel brands to incorporate a 160-key hotel in the low rise of the building, which is set to become one of the city’s’ most desirable getaways.

Established in Sydney in 1996, Crown Group has built its reputation on delivering iconic luxury developments and today has a $5 billion pipeline spanning five cities and two continents.

ABOUT CROWN GROUP (Australia)

Crown Group Holdings (Crown Group) is a leading Australian property group specialising in property development, property investment and serviced apartments. The company was co-founded by architect Mr. Iwan Sunito and engineer Mr. Paul Sathio with its first project in Sydney in 1996 and its residential (condominium) developments have won more than 30 international awards.

Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes and most recently the 25-storey Arc by Crown Group in Sydney CBD and 2017 Property Council of Australia’s Annual Property Congress’ one of the World’s Best Projects Infinity by Crown Group in Green Square.

Today, Crown Group boasts a portfolio of six major projects under development and in the pipeline. It is currently developing three major projects in the Sydney area: the $500 million five tower precinct Mastery by Crown Group in Waterloo being developed with Mitsubishi Estate Asia; Waterfall by Crown Group in Waterloo; and Eastlakes Live by Crown Group the most exciting new address in the Eastern Suburbs. It also has projects in Brisbane, Melbourne and Los Angeles. 

Crown Group launched SKYE Suites in Parramatta in August 2017 and SKYE Suites Sydney in October 2018. It is due to open SKYE Suites Green Square (Sydney) soon.

www.crowngroup.com.au

Attachments

Natasha Granath
Crown Group
+61 410 494 774
natashagranath@crowngroup.com.au