Cornerstone forms its first partnership with Monarch Investment and Management Group (MIMG), a multi-family real estate company base in Colorado. Cornerstone has continued to partner with MIMG on a number of multi-family projects.
Cornerstone Holdings is formed to manage the family’s investments in various real estate and private equity deals.
The family starts Urban Green Investments (UGI), a real estate company based in San Francisco, to invest primarily in Bay area real estate. The company also partners with development groups in other markets in the United States.
UGI partnered with Harridge Development Group on the acquisition of the Metropolitan, a mixed-use development in Hollywood in 2011.
The Family invests in 1,330 acres of mixed use development in Winter Park, Colorado. The project will see the development of a mountain living community adjacent to the Winter Park ski resort.
The McCloskey family enters the Kauai real estate market, purchasing 6,800 acres. The acquisition of Moloa’a Bay Ranch and Kauai Ranch is the largest private acquisition of land on the island of Kauai at the time.
Palmer Wireless (PWIR) is taken public. Goldman, Sachs & Co. advised the company during the IPO. Two years later, in late 1997, Palmer Wireless was acquired by Price Communications Corporation for $880 million.
The McCloskey family invests original institutional money into Horizon Organic Dairy. Tom becomes Chairman of the company. Five years later in May of 1998, Horizon Organic Dairy is taken public. The common stock is listed on the Nasdaq National Market (HCOW).
In December 2003, Horizon Organic Dairy is acquired by Dean Foods. The McCloskey family was the largest shareholder.
Tom and his wife Bonnie move to Aspen with their children and begin real estate development in the state of Colorado.
Matthew McCloskey’s grandson Tom forms McCloskey/Bills Development Group for the purpose of real estate development in Palm Beach Gardens, Florida.
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