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Robert Martin Co. forms Barter Financial Services.

The Westchester-based development firm, has announced the formation of Barter Financial Services. This new venture will enable qualified companies who are looking to sublet their space to receive full value on remaining lease obligations through trade credits on goods and services. The arrangement will also give commercial real estate brokers the opportunity to earn two commissions on each sublet.

Stuart Kolbert serves as vice president of Barter Financial Services, and brings to the position 25 years of real estate experience in sales, marketing, leasing and property management. Kolbert explained that through the use of barter, additional value can be created in virtually any type of real estate transaction.

Illustrating the effectiveness of barter in a sublet situation, he noted that the vacating tenant exchanges the right to occupy the space with the barter comPany and receives, in return, 100 .ocrcent of the remaining lease commitment value in the form of trade credit consideration.

According to Brad W. Berger, Robert Martin executive vice president, the barter concept is relatively new to real estate and represents an innovative solution to the challenges faced by owners in keeping buildings occupied and by tenants in meeting their business needs. He emphasized that "... although our own portfolio is 95 percent occupied, we recognize the opportunities that exist in the New York metropolitan area to fill vacated properties, and we clearly see that the local economy and real estate market will be better served when buildings are occupied and businesses can rid-themselves of surplus lease obligations..

Berger reported that the new venture will have an affiliation with ICON International, a leading Manhattan-based barter company that has selected Robert Martin as their exclusive Westchester representative in all lease transactions.
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Publication:Real Estate Weekly
Date:Mar 24, 1993
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