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Al Berger & Co. selected agent by off-shore group.

In a new program to implement U.S. real estate investment and financing for their managed accounts, Grand Pacific Finance Corp., an affiliate of Taipei, Taiwan-based China Trust, has appointed Al Berger & Co. Inc., real estate investment bankers, to serve as their American correspondent. Albert I. Berger, president, made the announcement.

As part of Grand Pacific's overall strategy, Berger will be using three primary vehicles to accomplish their goals: Origination of participating mortgages, the purchase of existing mortgages, and ownership of commercial and multi-family real estate.

According to Berger, the relative stability of the U.S. economy is very attractive to off-shore investment, despite the substantially higher returns that are available from investments in the Pacific rim.

Grand Pacific is initially looking at investments within 100 miles of New York City. Their preference is $10 million per transaction, but they will consider opportunities in the $7 million to $25 million range, and mortgage pools of $50 million

Al Berger & Co., Inc. is extremely active in the formation of securitized and insured pools of mortgages and in the formation of real estate investment trusts (REITs). The firm specializes in financing, investments and corporate real estate. The company includes a division which specializes in Health Care Facilities Lending.

Berger, formerly chief executive officer of Helmsley Greenfield Inc. and senior vice president of Helmsley-Spear Inc., offers 31 years experience in all phases of real estate development, acquisition and management. His firm has offices in Rutherford, New Jersey, and Atlanta.
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Title Annotation:Grand Pacific Finance Corp. selects Al Berger and Company Inc. as American correspondent
Publication:Real Estate Weekly
Date:Jun 2, 1993
Words:246
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