BRIDGESTREET EXPANDS IN INDIA, ENTERS LONG-TERM AGREEMENT WITH JNB GROUP AND HOMESTEAD

New Delhi, October 09, 2013: BridgeStreet– the leading international provider of residences, serviced apartments and suites – proudly announced a milestone achievement in India through a 20-year,  tri-party agreement with JNB Group, LLC(JNB), a privately owned real estate investment and development consortium renowned for     franchising  and management, and Homestead,  a  real estate development company specializing in boutique branded residences. BridgeStreet’s latest venture further expands the brand to the emerging Indian market, encompassing property and facilities management for two new luxury residences by Homestead- Michael Schumacher World Tower and Ballet by Sharapova. The agreement also entails a comprehensive long-term commitment to exclusively collaborate on future Homestead serviced apartment developments throughout the world.

“As India globalizes and its economy expands, a number of business and tourism opportunities emerge, prompting long-term demand for upscale residential developments, associated property management expertise and serviced apartment offerings,” said Sean Worker, Chief Executive Officer of BridgeStreet. “BridgeStreet looks forward to meeting the growing demands of residential buyers and incoming business and leisure travelers with JNB and Homestead, reputable investment and development companies with a successful track record in the region. Our newest brand extension ‘Exclusive by BridgeStreet’ is the perfect fit for these two stellar properties.”

Exclusive by BridgeStreet is the brand’s recently introduced line of ultra-luxury, signature residences. Located in key international locations, these iconic, statement developments will feature    celebrity designed and endorsed lifestyle experiences with exquisite six-star quality furnishings, fittings and finishes. Additionally, BridgeStreet Concierge Gold– a 24-hour service for every need — creates the ultimate red carpet treatment, redefining luxury living.

BridgeStreet JNB Management, a to-be-formed India Private Limited entity, will oversee all management aspects and maintenance services for the Michael Schumacher World Tower, the most prestigious address in Gurgaon in the vicinity of IGI airport and Delhi, and Ballet by Sharapova, located in the up-and-coming Sector 73 in the heart of Gurgaon. Inspired by the  keen athleticism of Formula1 driver Michael Schumacher and tennis legend Maria Sharapova,  both properties bring to life the dynamic nature of each athlete through thoughtful design and experiential elements.

“We’re thrilled to continue expansion of our existing relationship, as both BridgeStreet and JNB Group are global leaders in their respective sectors,” stated TJ Barring, President of JNB Group. “With more than 50,000 apartments spanning 60 countries, BridgeStreet boasts vast  expertise in the hospitality, property management and serviced apartment industries and when coupled with JNB’s vision to identify and execute lucrative opportunities in existing  and emerging markets, it yields a mutually beneficial relationship.”       

“The extended relationship with BridgeStreet and JNB is a gateway to the future, especially as India continues its pattern of steady growth in the hospitality sector,” stated Manoj Shrivastava, Chief Operating Officer of Homestead. “With the help of BridgeStreet’s international expertise and JNB’s proven operational background, we envision a future where people will live, work and play in spaces that ultimately enhance their quality of life at both Michael Schumacher World Tower and Ballet by Sharapova.”  

Dubbed “The Grand Prix of Fine Living,” and carefully designed for today’s fast paced connoisseurs, Michael Schumacher World Tower features ultra-futuristic qualities, inspired by the love for innovation shared by Michael Schumacher, seven-time Formula One World Champion. Boasting sky gardens, home automation systems, mood control lighting, climate control settings, curved decks and terraces with entertainment spaces, and a VIP cantilevered helicopter platform, the Tower is a living spectacle. Nostalgia takes over opulence, as a state-of-the-art museum dedicated to Schumacher chronicles the legendary career of one of the greatest drivers     in the history of Formula 1. With a clear focus on LEED certification, this architectural wonder embraces the principles of sustainability utilizing an abundance of natural light, rainwater collection and local and recyclable materials.

Ballet by Sharapova, the newest addition to Sharapova Signature Branded Residences, is an iconic 42-story apartment tower designed by Upton Hansen Architects of London as a tribute to the grace of tennis legend, Maria Sharapova. The tower’s 120 plush residences will feature interiors designed by the Russian beauty herself, and will house the exquisite Sharapova Tennis Academy. — CCI Newswire