Heritage Principals, Real Estate Veteran Launch New Firm. Heritage Capital Group to Focus on Investment Opportunities in Eastern U.S.

Ridgewood , N.J. May 04, 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."

Press Info

Heritage Capital Group, LLC
Post Office Box 627 123 Prospect Street, Ridgewood, NJ 07451
P: 201.251.9700 F: 201.251.9009 press@heritagemgmt.com