HERITAGE PRINCIPALS, REAL ESTATE VETERAN LAUNCH NEW FIRM Heritage Capital Group to Focus on Investment Opportunities in Eastern U.S.
RIDGEWOOD, N.J., May 4, 2007 – Jeffrey Greenberg and Steven Greenberg, principals of Heritage Management Company, have joined forces with real estate industry veteran Robert R. Martie to form Heritage Capital Group LLC, the three partners announced jointly. The new venture will focus on acquiring office, flex, industrial and retail properties east of the Mississippi River.
Heritage Capital Group will serve as the investment arm of a larger real estate organization that also includes the Heritage Management Company, a private, family-owned real estate firm for which the Greenbergs serve as principals. Heritage Management Company currently owns and manages nearly 5 million square feet of diversified commercial product in the Northeast. Heritage Management also will manage the new entity’s investment properties.
"Heritage Capital Group has launched from a great platform – the Greenbergs’ substantial portfolio; our complimentary, diversified skills sets; and a common vision," said Martie, who has served in executive-level positions for such notable real estate companies as Advance Realty Group, The Gale Company and Bellemead Development Corp. during his 30-year career. "This formula promises a formidable and successful partnership."
The new company already is seeking investment opportunities. Among its initial strategic moves, Heritage Capital Group is forming an equity joint venture with a partner to be announced. "We anticipate a significant equity raise in the near future," Jeffrey Greenberg said. "The outcome will strengthen our buying power and increase our market share significantly."
According to Steven Greenberg, the formation of Heritage Capital Group is a logical progression for Heritage Management Company, which has nearly doubled its holdings and completed more than $250 million in acquisitions, dispositions and refinancings during the past year.
"The partnership with Bob will enable us to take our position as a dominant player to the next level," he said. "As we grow Heritage Capital Group, we will continue to focus on the things that have earned all of us the respect of our clients and industry peers. We will maintain the proprietary approach that is our hallmark, working in concert with the financial and commercial real estate communities to provide quality work environments and contribute positively to the markets in which we are involved."
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About the partners:
Steven Greenberg supervises operations for Heritage Capital Group and oversees all aspects of leasing, construction and maintenance for Heritage Management Company. He has attended numerous courses and seminars on financing and construction at New York University Real Estate Institute and The Wharton School in Philadelphia. Greenberg currently serves on the Planning Board and the Environmental Commission of the Borough of Saddle River, N.J. He also is on the board of directors of the Newark Boys & Girls Club and WBGO, Newark Public Radio. In addition, he is a member of NAIOP and the Newark Real Estate Board.
Jeffrey Greenberg oversees equity and financing for Heritage Capital Group, as well as financing and leasing for Heritage Management’s properties. He received a bachelor’s degree in philosophy from Colgate University, a law degree from Boston University School of Law and a master’s degree in real estate from New York University. Greenberg is a licensed real estate broker in New York and is licensed to practice law in New York, New Jersey and Colorado. He is a member of NAIOP and serves on its Developers Political Action Committee.
Robert R. Martie heads acquisitions for Heritage Capital Group. His career spans high-profile positions as senior vice president for Advance Realty Group, The Gale Company and Bellemead Development Corp. He has been responsible for leasing and marketing multi-million-square-foot portfolios, and also has been instrumental in acquiring, developing and marketing some of New Jersey’s highest profile office properties. Acknowledged as one of the state’s most productive real estate executives, Martie is known for completing numerous landmark deals, which include millions of square feet of real estate transactions totaling hundreds of millions of dollars. He is a member of NAIOP, the Morris County Area Development Group and is presently a member of the executive committee for CoreNet Global, New Jersey Chapter.