Peter J. Farrell

Managing Partner
Mr. Farrell is a Partner and Co-founder of CityInterests, LLC and PADC Realty Investors LLC (PADC). Both are downtown Washington, DC real estate development and investment companies. PADC, which began operations in 2004, has invested in over 5.1 million square feet of mixed use development land sites in downtown Washington DC. Founded in 2005, CityInterests is a fully-integrated real estate development firm focused on the mixed-use urban revitalization of underserved areas in the Washington, D.C. region as well as boutique residential real estate projects in emerging markets such as Adams Morgan, Shaw, Mt. Vernon and Petworth. The company serves as the Master Developer for Parkside, a 15.5 acre, $860 million development that is the largest privately controlled, Transit-Oriented Development opportunity in the District of Columbia. CityInterests is also redeveloping the 4-acre South Capitol Street Shopping Center into a 325,000 square foot, $80 million dollar mixed-use development.

Prior to founding PADC, Mr. Farrell was President and Chief Operating Officer (COO) of Medical Office Properties Inc., a fully-integrated real estate investment trust (REIT) with approximately 22 Medical Office Buildings in 7 states, California, Colorado, Florida, Texas, North Carolina, Virginia and Maryland, and a small portfolio of healthcare-related assets. Mr. Farrell headed the investment team that developed, generated and executed an investment strategy focused on the sale of existing long term assets in order to focus capital in the medical office building arena. Medical Office Properties was sold to CNL Properties and the balance of the healthcare-related assets to a private investor in May 2004.

Mr. Farrell’s career in real estate began following his graduation from Georgetown University in 1982. Mr. Farrell spent 13 years in the commercial leasing and sales real estate industry working for Shannon and Luchs Company and Cassidy and Pinkard Inc. He was recognized consistently by WDCAR as a top real estate professional in Washington, DC. In 1995 Mr. Farrell joined Legg Mason Wood Walker and Legg Mason Real Estate Services Inc. (LMRES). Farrell started the private equity business platform for private equity investment at both the asset and entity levels. As a Vice President at Legg Mason, Vice President at LMRES and Managing Director of Legg Mason Realty Advisors, Mr. Farrell served in the role of investment banker, overseeing both private and public real estate companies’ efforts to raise private equity in foreign and domestic markets and debt placement for clientele.

Mr. Farrell serves on boards of various educational institutions and philanthropic endeavors:
  • • Georgetown University Alumni Association, Board of Governors, Senator
  • • Hoyas Unlimited, Former President
  • • Tewaaraton Trophy Foundation, Board of Directors, Former Chairman of the Board
  • • Shephard Foundation, Board of Directors, Executive Committee member
  • • Educare of Washington DC, Board of Directors
  • • DC Promise Neighborhood Initiative:
  • - Board of Directors, Executive Committee, Secretary
  • - Chair of Nominations and Governance Committee
  • - Chair of Audit Committee
Mr. Farrell lives in Bethesda, MD with his wife and four children.

Alan R. Novak

Alan is a Partner and Co-Founder of CityInterests LLC and is in charge of overseeing the company’s strategic vision. He has developed a number of luxury hotels, among them the Ritz-Carlton – Aspen and the Mandarin Oriental – Washington, DC. The Mandarin is a $160 million, 400-room luxury hotel, which opened in April 2004 and was recently selected #1 hotel in the world by Institutional Investor magazine. In addition, Mr. Novak was responsible for the acquisition, financing, and renovations of the then-existing Ritz-Carlton hotels in Houston, New York and Washington, DC.

Alan is the developer/owner of HarbourSide, a $150 million, mixed-use (office/residential) project, including the new Swedish Embassy, which opened in the summer of 2006 on the last undeveloped property on the Georgetown waterfront. As a result of this effort, Alan was named a Knight of the Royal Order of the Polar Star by Swedish King Carl Gustaf XVI for his contribution to Swedish-American relations. Mr. Novak directed the formation of the Lano Art Collection, one of the premiere private collections of 19th-century American Art. He has been involved in the production and financing of three feature films, and his current production company, Rockaway Pictures, is developing several feature film projects. He is a former Trustee of Arena Stage and served for 14 years on the Board of Photomedex, a publicly traded OTC company.

Mr. Novak was a junior year PBK summa cum laude economics graduate of Yale University as a Navy Scholar. He later graduated third in his class from Yale Law School, where he was an editor of the Yale Law Journal and member of the Order of the Coif, and Oxford University as a Marshall scholar (B.A, M.A., P.P.E.). As a member of the NY and DC bars, he practiced law at Cravath, Swaine & Moore and Swidler & Berlin, and taught law at Cardozo Law School. His public service includes three years as an active duty officer in the United State Marine Corps ending in the rank of captain, a U.S. Supreme Court Clerkship with Justice Potter Stewart, Senior Counsel to Senator Ted Kennedy, Senior Executive Assistant to Undersecretary of State Eugene Rostow, and Executive Director of President Johnson's Telecommunications Task Force. Appointed by President Carter after service in the Carter White House as senior advisor to Chief of Staff Jack Watson, Mr. Novak served for five years as Federal Fine Arts Commissioner. He and his wife, Kate, have been married since 1960. They have twin sons, Jonathan and Adam, born in 1968. Jonathan is Alan’s business partner, and Adam is a novelist and Head of the William Morris Agency Story Department.

Jonathan D. Novak

Jonathan is a Partner and Co-Founder of CityInterests LLC. For more than 15 years, Jonathan has worked in partnership with his father Alan in their family-owned Washington, DC-based commercial real estate company. In Washington DC, Jonathan co-developed and owns in partnership: the 400-room luxury hotel Mandarin Oriental Washington DC on the Southwest Waterfront; 2900 K St NW, which consists of the Embassy of Sweden and Class A office and luxury condominiums on the Georgetown Waterfront; and Parkside, a 3 million square foot mixed-use, transit-oriented component of the “Promise Neighborhood” on the Anacostia Waterfront. Mr. Novak earned a B.A. in Economics from New York University.