Printer Friendly
The Free Library
4,467,296 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Opportunities abound in New Jersey.


Since its formation a little over two years ago, Wellsford Commercial Properties Trust has amassed a 6 million square-foot portfolio of properties from Boston to Washington, D.C.

As a private REIT joint venture between WRP, a publicly-traded American Stock Exchange Company, and The Whitehall Fund, an affiliate of Goldman, Sachs & Co., Wellsford Commercial Properties Trust is focused on acquiring redevelopment projects, Class A properties and land, sites from Boston to Washington, D.C. With new space now nonexistent, our organization is focused on redeveloping and converting older, outdated facilities into Class A properties to meet market demand. We expect to continue to be among the most active acquirers on the East Coast in the new millennium.

Our view is that the current conditions of the marketplace pose an outstanding opportunity for us to make significant acquisitions in the New Jersey, Boston and Baltimore markets. As a private REIT with substantial capital and partners that are constantly investing in a volatile market, Wellsford is one of the few large companies that has not withdrawn from the negotiating table. Our plans are to actively step up our acquisition plans throughout the Northeast and, with the REITs pulling back, we are finding that we are one of the only ones looking at particular properties.

Because the fundamentals of the market remain strong (no new space, a robust economy, low interest rates), Wellsford is committed to growth within the market and poised to hit the $1 billion threshold in assets in the very near future.

Wellsford Commercial Properties Trust has quickly seized an established market position as an extremely well-capitalized, full-service development company that has already built a significant portfolio in prime, Class A markets. Our strategy has positioned us to be able to fill the void in the market for corporate quality space in the Northeast's most desirable markets.

Because of the time factor associated with new development and the cost of market entry, Wellsford Commercial Properties Trust can meet tenants' occupancy needs in the most expeditious manner.

In the near future, Wellsford Commercial Properties Trust plans to aggressively pursue new acquisitions in the Boston, Northern New Jersey and suburban Washington, D.C. markets.

COPYRIGHT 2000 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Author:Previdi, Richard
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Jan 26, 2000
Words:362
Previous Article:Favorable New Jersey climate continues.(Brief Article)
Next Article:Strong New Jersey market conditions continue.(Brief Article)
Topics:



Related Articles
Site of the Week - www.SoulfulLiving.com.
Industrial-to-retail provides opportunities.(real estate business: Paramus, New Jersey, area)(Brief Article)
Tenants exploring suburban leasing alternatives.(Newark, New Jersey, Jersey City, New Jersey)(Brief Article)
Tenant's market creating leasing opportunities in New Jersey.(Brief Article)
Outlook for New Jersey real estate looks brighter.(Insider Outlook)
Corporate and government activity aids recovery.(Third Quarter Review)(Brief Article)
When will recovery come to New Jersey? Not until '05.(New Jersey)
State's ranking slips, but good news abounds.(New Jersey)
Kushner open house highlights opportunities in urban settings.(NEW JERSEY)(Brief Article)
CB star brings home $97m in sales.(Coldwell Banker)(Brief article)

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles