McCourt Global's real estate investment and development initiatives include more than 5.5 million square feet of mixed-use space in active development. Current projects include a 740,000-square-foot mixed-use development project at 360 Tenth Avenue in New York, a 1.8-million-square-foot luxury residential development project on Brickell Bay Drive in Miami, a 2.4-million-square-foot development project on Waller Creek in Austin, and, in the Shoreditch area of Central London, a 900,000-square-foot project comprising 250,000 square feet of commercial development and a 40-story residential tower. Additionally, MG controls approximately 260 acres of land in Chavez Ravine in Los Angeles.
McCourt Global develops and manages global investment solutions ranging from direct lending platforms to equity investment vehicles. In 2015, MG announced the launch of MGG Investment Group LP (MGG), a private, specialty finance group focused on complex investments in the underserved middle and lower-middle markets. Then, in 2016, MG announced that Frank H. McCourt, Jr., Chairman and Chief Executive Officer of McCourt LP, and Mark Walter, a founder and the Chief Executive Officer of Guggenheim Partners, had launched McCourt Partners, a private investment platform with over $1 billion in permanent capital.
The McCourt Partners investment platform represents an evolution of the successful joint venture by the same name launched in 2012 following the historic $2.2 billion sale of the Dodgers franchise by McCourt to an investment group led by Walter. Initially focused on real estate development, the joint venture made significant investments in flagship development projects in New York City, London, Miami, and Austin totaling more than 5.5 million square feet. Going forward, McCourt Partners will have an expanded mandate to invest in an array of sectors ranging from real estate to finance, and other private equity opportunities.
McCourt Global and the McCourt family have a long history in professional sports including Frank H. McCourt, Jr.'s ownership of the Los Angelels Dodgers and partial ownership of the Boston Braves by his grandfather. Today, MG's sports and media portfolio includes the iconic French football team, Olympique de Marseille, which was acquired in 2016; Global Champions Tour, the preeminent international show jumping series; Global Champions League, an innovative league of show jumping teams made up of the world’s best riders and horses together competing for the largest prize purse in the sport; and Conqur Endurance Group, a company that designs, markets, and produces world-class endurance events including the Los Angeles Marathon.
Social impact is an integral part of McCourt Global’s history and our future. It is embedded in the company’s culture and extends to all aspects of our business operations. Our philanthropic efforts are both diverse and ambitious, and they include support for numerous organizations and initiatives in New York, in Los Angeles, and around the world. Our flagship initiative, however, is The Future Project, an organization inspiring and mobilizing young people around the United States to build better and brighter futures for themselves, their communities, and the nation.
Through the McCourt family, MG is also associated with several academic, civic, and cultural institutions and initiatives. In 2013, Frank H. McCourt, Jr. donated $100 million to Georgetown University to create the McCourt School of Public Policy, an institution that is destined to become the pre-eminent public policy school in the world. Additionally, Mr. McCourt serves on the Board of Directors and is a major benefactor of The Shed, a new organization that is developing an innovative and architecturally significant arts and cultural center in the heart of Manhattan’s Hudson Yards.