Investments in Joint Ventures
The company has joined with other successful operators and has identified and participated in many investments that benefit from positive cash flow and the probability of significant increase in future value. Our joint venture partners include:
- Ramco Gershenson Properties Trust (RPT - NYSE)
- Yale Realty Services, Inc.
- Radiant Partners, LLC
- MacQuesten Development Corp.
- Willett Companies LLC
- Langsam Property Services Corp.
- American Development Group LLC
- SK Realty Management, LLP
Some of the investments made with the above joint venture partners include the following:
- 88 unit LIHTC Senior Affordable Apartment development in Yonkers, NY.
- Shopping centers of at least 100,000 square feet each and anchored by strong retailers.
- A 450,000 square foot office building located in the heart of downtown Cleveland.
- The conversion of an office building to condominiums on the corner of Park Avenue and East 30th Street in Manhattan.
- Participation in the development of a Home Depot anchored power center near Toledo, Ohio.
- Participation in the acquisition of an 800,000 square foot mall in the Florida panhandle anchored by JC Penney and Sears Roebuck.
- Participated in the development of a 1.1 million square foot power center anchored by Wal-Mart in Jacksonville, Florida.
- The “Hershey Building” which is a 424,000 square foot industrial building in New Kingstown, PA.
With New York City Department of Housing and Preservation (NYCHPD) and the Community Preservation Corporation (CPC), we participate in the Third Party Transfer Program and The Participating Loan Program whereby we rehabilitate occupied or vacant buildings with HPD/CPC financing, real estate tax abatements and subsidized rents.
If you would like more information, please contact: Joel Gendels