JMA Ventures to Purchase CGA
FOR IMMEDIATE RELEASE:
Casey Shaughnessy, Lauren Englehardt and Chasa Toliver
Glodow Nead Communications (415) 394-6500
San Francisco Real Estate Investment Firm Will Partner with the 49ers to Integrate Amusement Park with the Team’s New Stadium in Santa Clara
SANTA CLARA, CALIF (September 20, 2011) – Officials with JMA Ventures, LLC, a full service real estate investment firm based in San Francisco, today announced an agreement to purchase California’s Great America amusement park from Ohio-based Cedar Fair Entertainment Company. JMA, a leader in developing and redeveloping large-scale lifestyle properties, serves as managing partner for more than $500 million in projects spanning hospitality, leisure, residential, retail, office and industrial.
“Great America is an excellent addition to our portfolio of hospitality and entertainment properties,” said Todd Chapman, CEO of JMA Ventures. “Great America is one of California’s most popular family attractions and we look forward to preserving its unique appeal while at the same time bringing new ideas and energy to the park – particularly in developing the exciting synergies that will emerge between the new stadium and Great America.”
JMA’s portfolio encompasses some of the San Francisco Bay Area’s premier lifestyle and entertainment venues including Alpine Meadows, Homewood Mountain Ski Resort and West Shore Café and Inn in the Lake Tahoe area, Fairmont Heritage Place at Ghirardelli Square, and Waterbar and EPIC Roasthouse restaurants on San Francisco’s revitalized Embarcadero waterfront.
An entity affiliated with the San Francisco 49ers has been working with JMA and is expected to partner with them in the acquisition of the theme park, which is located adjacent to the new Santa Clara stadium site. The acquisition will position the park for future long-term growth and clears the way for the new stadium project to move forward.
“This is great news for Santa Clara and for Great America,” said Santa Clara Mayor Jamie Matthews. “The amusement park has been an important part of our city for many years and with the addition of the stadium and other development proposals that are coming forward, we are excited about creating a premier family entertainment destination for Northern California.”
The City of Santa Clara, which owns the land Great America is built on, must approve the sale. The new ownership, upon purchase approval, expects to begin operating the park in the fourth quarter of 2011 and plans to retain all employees with a continuation of benefits. More information on Great America can be found at www.cagreatamerica.com.
About JMA Ventures, LLC
JMA Ventures, LLC (“JMA”) is a full service San Francisco based real estate investment company with in-house acquisition, development, finance, leasing, marketing and management capabilities. The company has compiled a 20-year track record of successful projects, both residential and commercial, combining investment and development expertise with a commitment to the highest quality of design. JMA currently serves as general partner for in excess of $500 million of real estate investments across the western United States. For more information, please visit www.jmaventuresllc.com.
JMA’s impressive portfolio encompasses some of the San Francisco Bay Area’s premier lifestyle and entertainment venues including Alpine Meadows, Homewood Mountain Ski Resort and West Shore Café and Inn in the Lake Tahoe area; Fairmont Heritage Place at Ghirardelli Square; and Waterbar and EPIC Roasthouse restaurants on San Francisco’s Embarcadero.