Investing in real estate the old fashioned way.As an executive vice president of the Treeline Companies, a premiere Long Island-based owner, manager and developer of more than 1.5 million square feet of premier office space, Michael Schor finds properties to invest in the old fashioned n. 1. A cocktail consisting of whiskey, bitters, and sugar, garnished with with fruit slices and often a cherry. Noun 1. old fashioned - a cocktail made of whiskey and bitters and sugar with fruit slices way. "We are bricks and mortar A store (shop, supermarket, department store, etc.) in the real world. Contrast with clicks and mortar. investors--we don't look at real estate as a fungible A description applied to items of which each unit is identical to every other unit, such as in the case of grain, oil, or flour. Fungible goods are those that can readily be estimated and replaced according to weight, measure, and amount. financial instrument. We look for premium locations in central business districts and properties that can benefit from our proactive and responsive management practices. We try to find what is unique about a property and work to fashion a creative acquisition and redevelopment plan for the asset." Schor is responsible for managing Treeline's relationships with lenders, institutional partners and investors, as well as new property acquisitions and dispositions. In addition to his acquisitions duties, Schor remains responsible for overseeing and managing Treeline's entire legal department often involving intricate, complex leasing transactions, acquisitions and dispositions and a wide array of the company's legal matters. In addition, Schor is overseeing the formation of a discretionary real estate investment fund for Treeline. The fund is expected to close in the fourth quarter of this year. "Our discretionary real estate fund will allow us significant flexibility in making property acquisitions. We will be able to move quickly and adeptly to tie-up and close transactions on short notice. Treeline's ability to participate in the increasingly competitive acquisitions market will be greatly enhanced and our investors will be benefited at the same time." Overseeing a wide array of Treeline acquisitions, including 100, 200, 300 and 400 Garden City Plaza City Plaza is a shopping mall in historic downtown St. Albert, Alberta, Canada. This shopping plaza features heritage architecture and a European small shop ambience. It is home to BITNETS, the award winning technology business, other upscale offices and boutique-style shops. on Long Island, along with 180 Livingston Street and 177 Livingston Street in Brooklyn, he led the Treeline team in its disposition of 2 and 4 Gannett Drive along Westchester County's "Platinum Mile," which fetched a then-record sale price of $200 per square foot . Schor also directed Treeline through some $250 million in refinancing Refinancing An extension and/or increase in amount of existing debt. transactions last year while he actively sought development opportunities for Treeline throughout the tri-state area There are a number of places in the United States known as tri-state areas where three states or holdings meet at one point (a tripoint), or in proximity to each other. The two most well-known are for the New York and Chicago metropolitan areas. . Schor expects several opportunities to close during 2006: "In evaluating properties for investment, we consider the current income, location and potential of the property, as well as the opportunity to employ our unique expertise in value enhancement," Schor shared. "Strategic acquisition of exceptionally located properties is our goal, and a hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. of Treeline's success." Founded in 1985 with headquarters in Garden City, NY, Treeline has built a strong reputation as a premier, full-service real estate ownership and investment firm not just in Long Island, but beyond, expanding its target markets throughout 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. and its suburbs. "Treeline currently owns and manages more than 1.5 million square feet of strategically located commercial real estate in the New York Metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. ," stated Schor. "The firm's proven and successful approach to investment and property management has been the result of its strong ties and unflagging commitment to the communities we serve." The Treeline Companies' reputation as a leading owner, developer and investor in Tri-State area commercial real estate has grown along with its numbers of investors and partners, and its property portfolio. "Our management employs creativity, ingenuity and market expertise for its success, which is clearly illustrated in Treeline's strong portfolio of value enhanced assets," says Schor. "Over the past two decades, The Treeline Companies has built a reputation for quality ownership and intelligent investment throughout New York City, Long Island and Westchester County." The Treeline Companies is currently evaluating a broad range of investment opportunities as its business grows to a new level. Prime targets for acquisition include institutional quality properties throughout the tri-state area that will benefit from The Treeline Companies' proven and innovative methods of enhancing value. "We are always seeking to expand our portfolio through the acquisition of Class A office properties 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 , New Jersey and Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). ," commented Schor. "As we navigate (1) "Surfing the Web." To move from page to page on the Web. (2) To move through the menu structure in a software application. this new phase in the firm's evolution, including the formation of our discretionary fund, we continue to enjoy our strong relationships among brokers, tenants and. the greater tri-state-area real estate community." |
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