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CT Partners become city slickers.

Broadway Real Estate Partners, LLC has relocated its corporate headquarters from Greenwich, Connecticut to the 21st floor of the Seagram Building located at 375 Park Avenue in New York City. The relocation took place during the first quarter of 2004.

"As we embark on a significant expansion strategy, this headquarters move to New York is part of our focused strategy of building our internal infrastructure and investing in our operating platform," stated William Scully.

"In order for Broadway to attract the highest caliber professionals, expand our capital base and target future acquisitions, it was important to establish a presence in the business capital of the world. We are excited about our future growth plans at Broadway."

In 2003, Broadway Partners acquired approximately $300 million in assets, raised over $80 million of private equity from its over 180 private and institutional investors and secured over $250 in debt financing.

In addition, Broadway Partners launched Broadway Real Estate Services, LLC, its property management subsidiary, which had over 2.3 million square feet under management at year-end.

Several key hires in 2003 included Jonathon Yormak, executive vice president and general counsel; Rick Serrapica, COO of Broadway Real Estate Services; and Bill Culkin, controller.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 2, 2004
Words:200
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