Clarett Capital LLC formed.Prominent New York-based developer, The Clarett Group, headed by co-founders Veronica W. Hackett and Neil C. Klarfeld, and Prudential Real Estate Investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. (PREI PREI Prudential Real Estate Investors PREI Path Remote Error Indicator ) announced the formation of Clarett Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a new real estate development company. The transaction was arranged by Sonnenblick-Goldman Company, a leading independent real estate investment bank based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Clarett Capital LLC combines PREI's capital-raising capabilities and proven real estate investment acumen with The Clarett Group's residential and commercial development, construction and marketing expertise. The company plans to develop more than a dozen rental and condominium apartment buildings in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of over the next five to seven years, with a potential investment of $500 -- $700 million. PREL PREL Pacific Resources for Education and Learning PREL Pacific Region Educational Laboratory PREL Peterborough Renewable Energy Ltd (UK) PREL Priority Reconnaissance Exploitation List PREL Partenaires de la Réussite Éducative des Laurentides and The Clarett Group said they would seek additional co-into participate in individual Clarett Capital LLC developments. John Gregorits, principal of PREI's merchant banking group, said, "We sought an opportunity to work. in partnership with Clarett because of the high quality product the finn has developed in New York City, and because of the successful track record its principals sustained for decades." Hackett said, "We are extremely pleased to be working with PREI, whom we consider to be an industry leader in the management of investment capital for real estate development" "The mutual respect shared by the principals of Clarett and PREL for each firm's areas of expertise will serve the venture well," noted Steve Kohn, president of Sonnenblick Goldman, who managed the transaction. "There is no doubt that this new company will bring forth exciting and exceptionally high quality developments to the New York residential market" |
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