Full Track Record

Portfolio of Assets

Five currently owned assets. Eleven hotels owned and sold. A decades-long track record of complex acquisitions, adaptive reuse, and brand-driven development.

Currently Owned

Active Holdings

Five assets currently owned and operated under Lockwood Development Partners — spanning luxury hospitality, film studio development, institutional medical, AI infrastructure, and affordable housing.

The Wagner — 2 West Street, Battery Park City, NYC
Currently Owned
2025 – Present
Battery Park City · New York, NY
The Wagner
Former Ritz-Carlton · 2 West Street
Purchased free and clear of all encumbrances on August 27, 2025. This 38-story glass tower anchors the southern Manhattan skyline. Converted to Marriott Luxury Collection under HEI Hotels management, with Vera Wang as the creative design visionary — integrating high-fashion aesthetics into rooms, bridal suites, and event spaces. Includes luxury condominiums with views of the Statue of Liberty.
Marriott Luxury CollectionHEI HotelsVera Wang38 Stories
Currently Owned
Great Gorge Film Studio — Former Playboy Hotel, Vernon, NJ
Currently Owned
2024 – Present
Vernon Township · New Jersey
Great Gorge Film Studio
Former Playboy Club Hotel · Vernon, NJ
Converting the iconic 640,000 GSF former Playboy Club Hotel into a Tier-1 production campus. The eight-story, 600+ room structure provides sound stages, post-production suites, and "living-set" environments. 300-room luxury talent and crew housing retained. Qualifies for NJ Studio Partner designation with 40–45% film tax credits. Sussex County anchor for NJ's mission to become the #3 production hub in North America.
640,000 GSFFilm & TV Stages40–45% NJ Tax Credit300-Room Hotel
Currently Owned
Great Oaks Medical Center — Alpharetta, GA
Currently Owned
2023 – Present
Alpharetta / North Atlanta · Georgia
Great Oaks Medical Center
16800 Great Oaks Way · Formerly RGA Headquarters
Acquired for $16M from the Reinsurance Group of America (RGA). $30M complex debt and equity stack funds the acquisition and medical conversion. Transforming Class A corporate infrastructure into a stabilized institutional medical asset with specialized MEP upgrades for high-acuity healthcare providers and surgical suites. Positioned as a regional medical anchor in one of the fastest-growing Sunbelt submarkets.
$16M Acquisition$30M StackClass A → MedicalSurgical Suites
Currently Owned
Metro South AI Data Center — Blue Island, IL
Currently Owned
2024 – Present
Blue Island · Illinois
Metro South AI Data Center
Former Metro South Hospital Campus
Converting the 550,000 GSF former Metro South Hospital into a Tier-III equivalent High-Powered AI Data Center. Leveraging the medical-grade facility's high-capacity electrical substations and robust HVAC for GPU-accelerated AI workloads. One of the largest adaptive reuse data center projects in the Midwest, positioning Lockwood at the intersection of traditional real estate and high-growth digital infrastructure.
550,000 GSFTier-III AI Data CenterGPU WorkloadsAdaptive Reuse
Currently Owned
New Castle Hospital — St. Francis Campus, New Castle, PA
Currently Owned
2024 – Present
New Castle · Pennsylvania
New Castle Hospital
St. Francis Hospital Campus
$40M adaptive reuse development converting a decommissioned hospital facility into a high-density Affordable Housing community. Complex rezoning, structural retrofitting, and integration of modern residential amenities within a historic institutional framework. Continues Lockwood's mission of transforming stagnant medical infrastructure into high-demand community assets.
$40M DevelopmentAffordable HousingHistoric CampusMedical Reuse
Currently Owned
Owned & Sold

The $225M National Hotel Portfolio

In June 2021, Charles orchestrated a landmark simultaneous closing of 11 hotels across 8 states — 1,550,000 SF and 3,400+ keys. The portfolio was repositioned under a "Hybrid Asset" model and divested for over $400 Million, delivering exceptional returns to investment partners.

$225M
Acquisition Basis (June 2021)
$400M+
Total Portfolio Dispositions
3,400+
Hotel Keys · 11 Assets
8
States · Simultaneous Close
Owned & Sold
2021–2024
Crowne Plaza Memphis
Memphis, Tennessee
319 Rooms
Owned & Sold
2021–2024
Crowne Plaza Austin
Austin, Texas
293 Rooms
Owned & Sold
2021–2024
Clarion Hotel
Orlando Int'l Airport, Florida
335 Rooms
Owned & Sold
2021–2024
Crowne Plaza Houston
Houston, Texas
243 Rooms
Owned & Sold
2021–2024
Crowne Plaza Dayton
Dayton, Ohio
283 Rooms
Owned & Sold
2021–2024
Crowne Plaza Reading
Reading, Pennsylvania
259 Rooms
Owned & Sold
2021–2024
Garden Plaza Marietta
Marietta, Georgia
218 Rooms
Owned & Sold
2021–2024
Former Marriott Jackson
Jackson, Mississippi
303 Rooms
Owned & Sold
2021–2024
Crowne Plaza Tulsa
Tulsa, Oklahoma
286 Rooms
Owned & Sold
2021–2024
Lafayette Plaza
Trenton, New Jersey
Full Service
Owned & Sold
2021–2024
Crowne Plaza Atlanta
Atlanta, Georgia
Full Service
Prior Transactions

Selected Past Deals

A selection of major transactions across Chicago, Las Vegas, Alabama, and the Northeast — demonstrating a consistent 35-year track record across every asset class and market cycle.

2017 – Present · Alabama
Hilton Portfolio — Alabama (4 Assets)
Hampton Inn Mobile · Hampton Inn Daphne · Hilton Garden Inn Daphne · Homewood Suites Daphne
$46M acquisition. $32M senior debt via Varde Capital, $14M equity. Served as Hilton Franchisee. Closed $29M fixed-rate CMBS loan with Citi Bank in February 2020 — locking in historically low rates immediately before the global hospitality market shift.
2005 – 2012 · Chicago, IL
Randolph Tower — 188 W. Randolph St.
47-Story Gothic Revival · Chicago Loop
Secured for $10M via stalking horse bankruptcy bid. Complex financing: $30M TIF + $20M Federal Historic Tax Credits + $44M municipal bonds via Bank of America. Converted to 346 luxury units. Today valued at $300M+ with 90%+ occupancy.
Est. current value: $300M+
2005 – 2007 · Chicago, IL
Chicago CBD Office Portfolio (1M+ SF)
Old Colony · Plymouth · LaSalle Atrium · 330 S. Wells · 1140 N. LaSalle
Controlled 1M+ SF across five buildings in Chicago's Central Business District. Included the Old Colony (Holabird & Roche, 1894), Plymouth Building (1927), and LaSalle Atrium. Portfolio-wide dispositions executed in 2006 at peak cycle — all at significant profit.
All exited at significant profit · 2006
2004 – 2006 · Chicago, IL
Rainbo Village — 4836 N. Clark St.
Clark & Lawrence · Chicago
$50M mixed-use flagship: 127 luxury condos/townhouses + 15,000+ SF retail on 2.5 acres. Senior debt via Ohio Savings Bank; $5M mezzanine via ING Realty Partners. Named "Best Mid-Rise Condo" in Chicago by New Homes publication (2004).
$50M project value · Best Mid-Rise Condo 2004
2005 – 2007 · Gold Coast, Chicago
1140 North LaSalle Street
250-Unit Condo Conversion · Gold Coast
$19.7M acquisition. "As-Is" condo conversion of 250 vintage units. Equity partner: Weyerhaeuser Realty Investors ($3.65M). Total exit value approximately $30M — delivered strong risk-adjusted returns by eliminating construction risk.
~$30M exit value
2021 – 2024 · Pawtucket, RI
Pawtucket Memorial Hospital
390,000 SF Campus · Veterans Housing Vision
Acquired from Care New England at $500K after 18-month regulatory review. Master-planned $70M Veterans Housing & Education Center with 200+ apartments. Sold for $11M — a multi-fold return — validating Lockwood's social impact development model.
$500K → $11M exit · Multi-fold return
2000 – 2006 · Multi-State
Lehman Brothers JV — 54 Marathon Stations
IL · WI · IN · MI
Joint venture with Lehman Brothers to acquire 54 Speedway Super America gas stations from U.S. Steel. Re-branded all 54 locations to Marathon. Sold to independent dealers. $50M transaction value.
$50M transaction value
2022 – 2025 · Marion, IN
Five Points Mall (Marion Mall)
350,000+ SF · Veterans College Concept
Acquired underperforming mall and master-planned a first-of-its-kind Veterans College campus with vocational training, on-site housing, and refreshed retail. Municipal approval secured. Sold at profit in 2025 — validating the social impact development model.
Strategic sale at profit · 2025