On May 16, 2006, Meritage acquired 85 Chestnut Ridge Road, a 60,288 square foot office building located in the center of Montvale, New Jersey. Executive Jet Corporation had utilized this building in the 1980’s and 1990’s as its corporate headquarters prior to being purchased by Berkshire Hathaway. The property maintains many corporate amenities such as mature landscaping and natural grounds, numerous separate private entrances, a private tennis court, and high visibility and signage on the Garden State Parkway.

We sold 85 Chestnut Ridge Road in April 2008, resulting in investor returns exceeding original projections.