About Us

The Festival Companies (Festival) is a leading privately held US real estate investment, development, management and full service commercial real estate advisory firm. Headquartered in Los Angeles, California, with regional offices in Honolulu, Hawaii, Festival has over a 25 year proven nationwide track record in the US acquiring, developing, redeveloping, managing and operating all formats of retail and mixed-use real estate investments, encompassing regional malls, shopping, dining and entertainment resort retail, community centers, neighborhood centers, street retail, urban in-fill and mixed-use properties.

This in depth retail experience has resulted in Festival acquiring, developing and operating highly recognized and successful retail projects throughout the continental US and the state of HI, comprising over 25 million square feet of retail properties in 23 states and creating over 2 billion dollars in asset value.

Festival's most recently completed flagship project is the redevelopment of the Royal Hawaiian Center, an international four-level shopping, dining and entertainment destination spanning 3 city blocks, located on Kalakaua Ave, in Honolulu (Waikiki), Hawaii. Royal Hawaiian Center and Festival was the recipient of several industry awards, including the American Marketing Association, Hawaii Chapter, 2010 Marketer of the Year, and 2010 US, International Council of Shopping Center (ICSC) Maxi Silver Award for Excellence in Advertising, and finalist in the 2009 ICSC US Design and Development Award for Renovation of an Existing Project. Festival consistently invests at attractive valuations and creates incremental value for partners and clients.

Lead by its founders, Mark A. Schurgin and Rosalind J. Schurgin, Festival is a fully integrated company, with in-house capabilities and expertise in all areas of the real estate investment and development industry, including acquisition, architecture and planning, asset management, community and municipality management, development, finance, investments, leasing, marketing, project management and property management, accounting, legal and facilities management. Festival employs a highly skilled and specialized professional staff comprising of approximately 60 employees in Los Angeles and 18 employees in Honolulu, HI.

Festival operates through three divisions: Festival Development, Inc; the firm's shopping center real estate investment and development division; Festival Management Corporation, and Festival Commercial Real Estate Services, the firm's full service third-party real estate advisory and management division; and Festival Capital Partners, LLC, the firm's multi-family apartment division.

Festival is an expert in all facets of the shopping center business including entrepreneurial acquisition of investment properties, ground up development and redevelopment projects, value add and rebranding/revitalization projects. Its superior market knowledge stems from its long standing retailer relationships which encompass the entire retailer spectrum of anchor, chain and specialty retailers, restaurants and services, including department stores, high-end and luxury brand retailers, big box retailers, value oriented retailers and national chain stores. This competitive edge combined with its capabilities to find creative solutions to complex situations, keeps Festival at the forefront of the shopping center industry, aiding the company to create and operate centers with a strong merchandise mix which appeal to consumer shopping trends, resulting in strong financial stabilized investments that stay ahead of competition in the marketplace.

A core focus of Festival's development expertise has been directed to urban redevelopment and in-fill projects in major metropolitan US cities. Festival actively partners with public agencies to realize urban revitalization and community development goals. These opportunities are typically overlooked by the investment and development community due to the specialized expertise required. Festival's focus in developing in urban markets and in-fill sub-markets has positioned the firm as an expert in public-private partnerships. Through its retailer relationships, Festival has brought many retailers to underserved areas and created additional opportunities for retailers seeking to expand into areas with a high barrier to entry due to the unavailability of suitable locations for a retailer's specific requirement. The firm has completed over 25 retail and mixed use projects involving public private partnerships including municipalities in California, the City of Chicago and the State of Oregon. Festival's public-private partnerships and redevelopment expertise have spurred revitalization and economic development in many communities. This dedicated expertise and commitment is expressed in each redevelopment project it executes. Festival develops, transforms and operates each location to respect each community's unique character, creating new innovative environments that provide communities and neighborhoods with a quality environment in which to shop and gather.

Festival's capital investment strategy for its partners and investors focuses on acquiring, developing or redeveloping properties which are well-located in major metropolitan markets with a high barrier to entry to new development. Festival's development and investment strategy also includes entrepreneurial opportunities to acquire financially distressed shopping center assets and value-add properties on an individual or portfolio basis. With these market characteristics, combined with Festival's unique capabilities, it creates institutional-quality assets, which are poised for long-term appreciation and strong cash flow returns from operations.

Festival's Shopping Center and Street Retail division focuses on development and investment in all facets of the shopping center spectrum, with an emphasis on Class A and Class B shopping centers and high street retail properties in mature, developed, urban neighborhoods, with investment sizes typically ranging from $10 million to $100 million, and the largest developed and operated asset having a value of over $500 million.

Festival's Small Center division seeks under-utilized but highly desired retail corner properties for single tenant (NNN) and multi-tenant strip retail development and investment, with investments typically sized under $10 million.