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Vector starts consulting for financial institutions.

Vector starts consulting for financial institutions

Vector Real Estate has established a consulting division to advise financial institutions, corporations, private individuals and governments on their real estate holdings and investments, according to Donald Shapiro, president of Vector.

The new division, Vector Realty Services, Inc., is headed by managing directors Howard Weitzman and Arlene Feig.

"There are plenty of real estate consultants in the world," noted Shapiro. "What distinguishes us is that we are real estate owners experienced in a variety of project types and locations throughout the country. Because our three top people combine more than a half century of expertise in the business, we know real estate inside and out.

"We've had equity positions in good times and in bad," Shapiro added, "which means that our advice comes from an owner's perspective. We are prepared to implement solutions, as well as to advise, in order to eliminate problems and create opportunities. In the real sense of the phrase, we've been there."

To restructure and add value to real estate portfolios, Vector Realty Services provides a full range of asset management and development services, including; managing and leasing commercial and residential assets, selling and marketing residential and commercial condominiums, completing development of surplus or troubled properties and raw land, and implementing project disposition for real estate assets ranging from unimproved land to planned communities.

Prior to joining Vector Real Estate Corporation in 1986, Weitzman was a senior vice president of Security Pacific Realty Advisory Services, formerly a Lehman Brothers Kuhn Loeb consulting subsidiary. His clients included major banks, insurance companies and Fortune 500 corporations. Before that, Weitzman was a project director for The Rouse Company of Columbia, Maryland.

With Vector since 1979, Feig has executed operational and administrative activities, including sales and marketing, for most of Vector's residential, office and hotel projects. These include: an office building at 341 Madison Avenue in Manhattan Morristown Green, a 162,000-square-foot commercial building on 22 acres in Morristown, New Jersey; Rio, a 129-unit residential condominium in Manhattan; and The Hollywood Beach Hilton, a 306-room luxury hotel in Hollywood, Florida.
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Publication:Real Estate Weekly
Date:May 15, 1991
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