6B — March 13 - 26, 2015 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey
Comm’l RE remains attractive investment as returns on competitive asset classes stay low Case Real Estate Capital broadening its platform in 2015 R OCHELLE PARK, NJ — Commercial real estate will remain an
A northern New Jersey-based situational lender and com- mercial real estate investment company, Case is active in high-yield, sub- and non-per- forming debt. On the heels of closing $40 million in transactions in 2014, the company has funding avail- able to further broaden its plat- form this year. Case focuses on assets located in the tri-state area and South Florida as well as Philadelphia, Baltimore and Washington, DC, concentrat- ing on deals ranging from $2 million to $25 million.
“At Case, we expect to stay active in the industrial and multi-family sectors, which are a clear proxy for econom- ic health and growth,” said Sandy Herrick , founder and managing principal of Case. Herrick has invested in more than $4 billion of commercial properties during his 30+-year career. In the fourth quarter of 2014, Case purchased a non-perform- ing senior note, with claims in excess of $11.5 million, on a 105,560 s/f industrial portfolio in the Hunts Points section of
the Bronx, New York. It also fi- nalized the purchase of a $2.99 million note and final judgment of foreclosure secured by five multi-family/mixed-use assets in Hudson County, NJ. “Ours is a local business. Cli- ents look to us for that exper- tise and reliable funding with a quick turnaround,” noted Herrick. Case is also active in South Florida, or the “sixth borough,” where it purchased a non-performing senior note, with claims in excess of $14 million, secured by a 31,000 s/f urban retail property in
Miami, FL. The firm’s financing solu- tions include traditional and short-term bridge loans, dis- counted pay-off (DPO) financ- ing, construction financing, and first- and second-mort- gage financing to facilitate a wide variety of situations. “We are seeing an improved envi- ronment for originated loans right now and that will stretch through 2015,” said Herrick. To help banks and financial institutions strengthen their balance sheets, Case purchases debt. Its service line includes purchasing performing, sub- and non-performing real es- tate-secured notes, judgments and liens, as well as vacant and REO properties in anticipation of borrower recapitalization, property control transfer and other liquidity events. At Case, each debt and prop- erty acquisition or loan is eval- uated on its own merits, based on the seller’s or borrower’s unique situation, local mar- ket conditions and the broad experience of Case’s in-house investment and origination professionals. The company also offers opportunities for local entrepreneurs. Case’s investor base is extremely diverse, including individuals, family offices and institutional investors. n Colliers Int’l arranges 67,500 s/f of new leases LITTLEFALLS, NJ — Col- liers International has ar- ranged 67,500 s/f of new, long- term transactions at Overlook Corporate Center in Little Falls. The influx of new tenants oc- curs as ownership commences an amenity-rich, multimillion- dollar enhancement initiative at the twelve-story, 415,000 s/f, class-A office building. Unity Construction Services is managing the renovation. The American Society of Mechanical Engineers (ASME) will occupy the entire, 32,500 s/f sixth floor by mid-year. Milliman Inc. will assume occupancy of the entire tenth floor. The company is relocat- ing to new, 26,000 s/f quarters. In addition, Ceragon Net- works Inc. will occupy a 5,500 s/f office on the ninth floor. Finally, New Possibilities Group, LLC has recently taken occupancy of a 3,500 s/f space located on the second floor. n
a t t r a c t i v e investment throughout 2 0 1 5 w i t h returns on competitive asset classes like stocks and bond s staying rel-
Sandy Herrick
atively low, according to the investment and origination principals of Case Real Es- tate Capital, LLC (Case) .
Local Expertise. Reliable Funding. Active in high-yield, sub- and non-performing debt, Case answers the middle market’s need for situational capital.
Debt and acquisition services include buying: • NPLs, judgments and liens • REO properties • Value-add properties
Financing solutions include: • Transitional & short-term bridge loans • DPOs • First- and second-mortgage financing • Construction loans
Let’s start the conversation on how Case can help you meet your business objectives in 2015!
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