Shea Properties and Oak Tree Capital Partner with CenterCal Properties in Development and Management of The Collection

New Partnership Also Names Two Key Positions for the Open-Air Center. End Quote

(1888PressRelease) January 09, 2013 - Shea Properties and Oak Tree Capital Management have announced a partnership with CenterCal Properties, LLC in the development and management of The Collection at Riverpark, a 650,000-square-foot specialty retail center quickly taking shape in the heart of West Ventura County.

Founded in 2005 by Jean Paul Wardy, president, and Fred Bruning, CEO, El Segundo-based CenterCal Properties is a nationally known owner and operator of major retail centers. CenterCal Properties will serve as principal operator of The Collection at Riverpark.

"When the opportunity came about to join this partnership," said Wardy "we felt it was the perfect fit for us. The Collection isn't just a shopping mall, it has the atmosphere and sense of place that marries well with the rest of our portfolio. We're excited to be on board and applying our resources to this project."

Meanwhile, the new partnership shored up talent at the top ranks by hiring industry veteran Peter Houck as general manager of The Collection, and Leticia Wilson as marketing director.

"We've been working closely over the last few months with the Shea leasing team to merchandise the center with the best possible mix of shopping, dining and entertainment options. Now that the center is operating, the additions of Mr. Houck and Ms. Wilson, both extremely talented individuals, will keep things moving forward on site," said Wardy.

Houck, who earned a degree in Business Administration from the University of Iowa Business School, brings to The Collection more than 13 years of mixed-use, retail and office property management experience at some of the most celebrated retail properties in the country.

Most recently, Houck was General Manager of Anaheim GardenWalk in Anaheim, Calif., where since 2010 he oversaw all aspects of Related Urban Management's 450,000-square-foot outdoor lifestyle shopping, dining and entertainment destination located within the Anaheim Resort District.

Houck is a Certified Shopping Center Manager (CSM) through the International Council of Shopping Centers and a Real Property Administrator (RPA) through the Building Owners and Management Association.

Wilson, the new marketing director, brings more than 20 years of experience in retail management and shopping center marketing to The Collection. She has created award-winning marketing programs, social media campaigns and special events for destination retail centers and downtown shopping districts throughout Ventura County.

As former principal of Wilson Marketing & Creative Solutions, her portfolio includes work for Forest City Enterprises, Westchester's Ridge Hill in Yonkers, New York, the EDC-Ventura County-Small Business Development Center, the Esplanade Shopping Center in Oxnard, and the Oxnard Downtown Management District. She is a Certified Marketing Director (CMD) through the International Council of Shopping Centers, as well as a graduate of the Fashion Institute of Design and Merchandising with a degree in Business Merchandising.

The Collection at Riverpark, taking shape alongside Highway 101 between the Vineyard and Oxnard exits, is a unique project designed to be a magnet for the people of West Ventura County and surrounding communities for years to come.

Already open are anchors Target and a state-of-the-art Century Theatres complex. Coming in Spring 2013 are a Whole Foods and REI.

Additionally, The Collection's appealing array of dining options continues to rapidly grow, with Kabuki Japanese Restaurant, Five Guys Burgers & Fries, Panera Bread and Menchie's Frozen Yogurt already open, and Gen Korean BBQ and Yakitori Bar, U.S. BBQ favorite Famous Dave's, Starbucks Coffee and others joining in 2013.

For more information, visit ShoppingTheCollection.com.

About Shea Properties (www.SheaProperties.com)
Shea Properties, headquartered in Aliso Viejo, Calif., is a diversified real estate company responsible for the acquisition, design, development, construction and management of business parks, shopping centers, apartment communities and mixed-use environments. Since beginning operations in 1969, annual revenues have grown steadily to more than $200 million, while the overall value of the portfolio has grown from $150 million to more than $2.25 billion. Shea Properties currently owns and operates approximately 6,300 apartment units and 6 million square feet of office, industrial and retail space in California, Colorado and Arizona.

About CenterCal Properties
CenterCal Properties, LLC, headquartered in Tigard, Ore. and El Segundo, Calif., is a retail development company formed in 2005 by Fred Bruning and Jean Paul Wardy to continue their tradition of developing and acquiring high-quality retail properties throughout the western United States. Bruning and Wardy combined have more than 50 years experience in shopping center development and have worked together for more than 12 years. CenterCal Properties is one of only five retail development joint venture partners of the California State Teachers Retirement System, and is one of the most active retail developers in the United States. Currently the company has more than 3.5 million square feet in various stages of development.

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