Jones Lang LaSalle
GlobeSt.com EXCLUSIVE: Denholtz Gets $125M in Expansion Capital
By Eric Peterson
Last updated: January 25, 2006 08:20am
(To read more on the debt and equity markets, click here.)
RAHWAY, NJ-Denholtz Associates, a privately held development, investment and management company with a seven-million-sf portfolio in the New York/New Jersey, Philadelphia, Atlanta and Florida markets, is set to expand in those markets, backed by $125 million in new expansion capital, GlobeSt.com has learned. Five Arrows Realty Security LP, an investment vehicle managed and advised by the New York-based Rothschild Realty, is providing the funding to fuel Denholtz’ expansion.
“This investment will allow us to accelerate the growth of our multi-market platform,” Steven Denholtz, the firm’s CEO, tells GlobeSt.com. “The investment by Rothschild is a transformational event in the history of our company.”
The company’s plan is to grow its portfolio “significantly” over the next 24 to 36 months, according to Denholtz. The plan is to both acquire and develop properties in the company’s existing core markets, with an emphasis on acquiring “value-added and stabilized core properties, with a focus on office and flex/industrial properties.”
“With its expanded capital base, we believe the company will be in an excellent position to extend its record of value-added investment,” says D. Pike Aloian, managing director of Rothschild. “We look forward to a productive working relationship.”
The investment also calls for Denholtz Associates to form a new, four-person board that will have oversight of general strategic issue affecting the company in its ongoing expansion. That board will consist of Denholtz; Jerold L. Zaro, a partner in the Ocean-based law firm of Ansell Zaro Grimm & Aaron, who’s already a partner in some of the company’s existing projects; Aloian; and John D. McGurk, who’s also with Rothschild. Advisors on the transaction included the accounting/consulting firm Schonbraun McCann Group of Roseland; Legg Mason Investment Advisors of Baltimore; and the law firms of Kramer Levin Naftalis & Frankel, Schulte Roth & Zabel and Edwards & Angell, all of New York City.
GlobeSt.com EXCLUSIVE: Denholtz Gets $125M in Expansion Capital
By Eric Peterson
Last updated: January 25, 2006 08:20am
(To read more on the debt and equity markets, click here.)
RAHWAY, NJ-Denholtz Associates, a privately held development, investment and management company with a seven-million-sf portfolio in the New York/New Jersey, Philadelphia, Atlanta and Florida markets, is set to expand in those markets, backed by $125 million in new expansion capital, GlobeSt.com has learned. Five Arrows Realty Security LP, an investment vehicle managed and advised by the New York-based Rothschild Realty, is providing the funding to fuel Denholtz’ expansion.
“This investment will allow us to accelerate the growth of our multi-market platform,” Steven Denholtz, the firm’s CEO, tells GlobeSt.com. “The investment by Rothschild is a transformational event in the history of our company.”
The company’s plan is to grow its portfolio “significantly” over the next 24 to 36 months, according to Denholtz. The plan is to both acquire and develop properties in the company’s existing core markets, with an emphasis on acquiring “value-added and stabilized core properties, with a focus on office and flex/industrial properties.”
“With its expanded capital base, we believe the company will be in an excellent position to extend its record of value-added investment,” says D. Pike Aloian, managing director of Rothschild. “We look forward to a productive working relationship.”
The investment also calls for Denholtz Associates to form a new, four-person board that will have oversight of general strategic issue affecting the company in its ongoing expansion. That board will consist of Denholtz; Jerold L. Zaro, a partner in the Ocean-based law firm of Ansell Zaro Grimm & Aaron, who’s already a partner in some of the company’s existing projects; Aloian; and John D. McGurk, who’s also with Rothschild. Advisors on the transaction included the accounting/consulting firm Schonbraun McCann Group of Roseland; Legg Mason Investment Advisors of Baltimore; and the law firms of Kramer Levin Naftalis & Frankel, Schulte Roth & Zabel and Edwards & Angell, all of New York City.
posted by Jones Lang LaSalle NJ News Blog at 10:07 AM
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