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Feldman Equities, Inc. is the modern business entity that encompasses a century of success in commercial real estate development, management and ownership throughout the United States. In the last 20 years, Feldman Equities has developed or acquired over 10 million square feet of office and retail properties with an aggregate value in excess of $2 Billion.
Feldman Equities is a standout, recognized for its trademark, hands-on approach to turning around distressed assets, combined with deep bricks-and-mortar sensibility. Finding success, time and time again, while remaining on the cutting edge of investment and development trends, Feldman Equities is marshaled by its visionary president and CEO, Larry Feldman.
Today, Feldman Equities owns and manages a portfolio of office and retail properties in Arizona and Florida -- and is keenly poised for a period of strong asset growth in these markets and others.
Feldman Equities, under Larry Feldman's direction, was until recently, reorganized as a REIT under the name Tower Realty Trust (NYSE: TOW). Focused mainly on the Manhattan office market, Tower was one of the hottest IPOs of 1997 and grew to include more than 4.6 million square feet of commercial property. Tower Realty Trust was also the manager of approximately 800,000 square feet of shopping centers that were owned by Larry Feldman and his joint venture affiliates.
Tower was sold for approximately $700 million in cash, stock and debt to an entity controlled by Reckson Associates Realty Corp. (NYSE: RA) in May of 1999.
Feldman Equities is today focused on the acquisition and renovation of underperforming or distressed regional malls. However, its strength is derived from a solid background in development. Among Feldman Equities' most famous development projects is Tower 45, a 40-story office building in Manhattan, in the heart of the Times Square business district.
Feldman Equities also capitalizes on strong relationships to form joint ventures with several corporate and private investors including GE Capital, George Soros Realty, Morgan Stanley, Lubert Adler, the Carlyle Group and the Praedium Group. Many of these investors saw unusually high returns from their investments through Feldman's shrewd turnaround strategy of buying and revitalizing under-performing properties.
Feldman Equities is tuned to the market and able to move quickly, with skill and precision, to find undervalued office and retail property. Mr. Feldman says. "In our local markets, in Tucson and Phoenix, Arizona, we have our finger on the pulse of the industry and a heart that pumps with enthusiasm about bringing an undervalued asset to life”. We do this through a program of extensive renovation (both cosmetic and structural, if needed), followed by an aggressive marketing approach to leasing.
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