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HRH & Clifford Cos. form joint venture for workout.

HRH & Clifford Co.s form joint venture for workouts

Stephen Mann, chairman of The Clifford Companies, announced the formation of a joint venture with HRH Construction Corp, a subsidiary of Starret Housing Corp. (ASE), to offer a complete range of real estate services in workout situations.

The Clifford Companies, a privately held real estate advisory and management company, specializes in restructuring partnership and joint venture arrangements, as well as debt restructuring, asset management, litigation management, and property management and leasing.

HRH, a recognized leader in the construction industry, has built such contemporary landmark buildings as Trump Tower, Citicorp Center and The AT&T Building. In addition to construction, HRH has in-depth experience in property renovation and tenant improvements. Through its affiliation with Levitt Homes, HRH has additional capability in the residential construction area.

Clifford recently complete the workout of a $1 billion property portfolio on a large U.K. company, and is currently managing more than 5.5 million square feet of office space, 35 shopping centers and 2,000 residential units throughout the United States.
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Publication:Real Estate Weekly
Article Type:Brief Article
Date:Oct 23, 1991
Previous Article:Lynda L. Tepperman.
Next Article:Construction manager broadens its scope.

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