Palisades' Swigg alliance.

Palisades Financial, LLC, through its Palisades Regional Investment Fund (PRIF), has completed an agreement for a strategic alliance with Swig Burris Equities to make investments in key assets throughout Manhattan.

As part of this agreement, Palisades Financial recently acquired an equity interest in 44 Wall Street from Swig Burris Equities, LLC. Swig Burris, in association with Zamir Equities, acquired the landmark office building in January 2004 and has brought the building to full occupancy.

Located in the heart of the financial district and one block from the New York Stock Exchange, the 24-story, 350,000-square-foot landmark office building was built in 1927 for Bank of America. The ownership team is transforming 44 Wall Street into a luxury-boutique office building. Renovations will include a redesigned building lobby, the installation of a two-story storefront entrance, and refurbished elevator cabs.

"This transaction allowed us the opportunity to invest in a significant New York City landmark building with a nationally recognized ownership group," said William Procida, chairman of Palisades Financial.

"We're on our third transaction with Kent Swig, Principal of Swig Burris Equities, and we have tremendous confidence in him and his team, as well as in Downtown Manhattan."