Peter J. Farrell
PartnerMr. 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 focused on emerging neighborhoods. PADC, which began operations in 2004, has invested in more than 2.1 million square feet of office and/or residential development in the NoMA corridor of downtown Washington, DC. Mr. Farrell also served as a member of the Board of Directors of CRT Properties, a publicly traded real estate investment trust (REIT) formerly traded on the New York Stock Exchange. Prior to founding PADC, Mr. Farrell was President and Chief Operating Officer (COO) of Medical Office Properties Inc., a privately held real estate investment trust company specializing in healthcare real estate assets with approximately 22 medical office buildings in 7 states and a small portfolio of healthcare-related assets. Farrell headed the investment team that developed, generated, and executed an investment strategy focused on the sale of existing healthcare assets in order to focus capital in the medical office building arena.
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 organized and managed the private equity business platform for private equity investment at both the asset and corporate entity levels.
Mr. Farrell serves on boards of various educational institutions and philanthropic endeavors. He sits on the Board of Governors for Georgetown University, President of Hoyas Unlimited, Founder and Former Chairman of the Tewaaraton Trophy Foundation, serves on the Advisory Committee of the DC Promise Neighborhood Initiative, and is a member of the DCPNI Board of Directors. Further, Mr. Farrell is involved with the Shepherd Foundation, an organization dedicated to providing financial assistance for families wishing to send their children to Catholic elementary and high schools. Mr. Farrell lives in Bethesda, MD with his wife and four children.
Alan R. Novak
PartnerAlan 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.