About Us

WHO IS MERITAGE PROPERTIES?

Andrew Nathan founded Meritage Properties on March 1, 2003 following a 16 year career as a senior executive with Tishman Speyer Properties, one of the nation's premier real estate firms. During his tenure with Tishman Speyer, Mr. Nathan served as general counsel, head of acquisitions in the Eastern United States and a member of the Executive, Management, and Investment Committees of the firm. Mr. Nathan founded Meritage with the belief that a compellingly attractive business model could be achieved by combining disciplined underwriting metrics, best in class operating principals, and an unwavering commitment to excellence in service to its tenant /clients, partners, lenders and investors.

Art DellaSalla joined Meritage as a managing director of the firm in November, 2004. Mr. DellaSalla brought 9 years of outstanding experience at Grubb & Ellis, holding various positions in its Tri-State Research and Client Services Group and subsequently its Investment Sales Group.  During the last several years of his tenure he completed over $500 million in property sales transactions.  Art’s extensive network of close broker relationships, together with his fundamental grounding in market research and analytical underwriting, added considerable depth to the organization’s core strengths.

In addition to Andy and Art, Meritage Properties has three other full-time employees, Erin Daly, Justin Nonemaker and Jonathan Shechtman. Erin joined the firm in August 2004 upon her graduation from the University of North Carolina at Chapel Hill. Erin was an undergraduate intern at Tishman Speyer over the summer of 2002, and joined Meritage with solid training in numerous roles essential to supporting Meritage’s activities. Justin joined the firm in December of 2005 after three and a half years as a respected Institutional Salesperson at Goldman Sachs in New York. His strong financial background and experience in working with an institutional client base made him a complementary addition to the rest of the team at Meritage.  Jonathan Shechtman joined Meritage in July, 2007 after graduating from Bucknell University.   

Meritage Properties is horizontally organized, utilizing a team approach to oversee all activities within specific geographic regions. As such, each transaction is handled from conceptualization through disposition by the same individuals, allowing for a continuity of philosophy, clarity of direction, and thoughtful commitment to “plan” with respect to each targeted acquisition. This approach also allows for the development of deep local market knowledge and the fostering of particularly close relationship with the brokerage, leasing and management communities in each region. Justin, Erin and Jonathan have primary responsibility for research, due diligence, underwriting and asset management within their respective markets, with each team led by either Andy Nathan or Art DellaSalla.

WHAT IS MERITAGE PROPERTIES?

Meritage Properties acquires, owns and operates a portfolio of mid-sized properties which exhibit strong potential for enhanced values as a result of our attention to detail and commitment to excellence.

• Target Property Types: office, residential, neighborhood retail, mixed use
• Target Leverage: 65-70%
• Target Transaction Size: $15-120 million
• Target Hold Period: 3-10 years

• Acquire a geographically targeted, mixed portfolio of quality real estate assets at intrinsically attractive prices
• Enhance asset values through cost-effective capital improvements, innovative cosmetic renovations and best in class tenant service
• Manage each asset and the overall portfolio aggressively
• Leverage each acquisition prudently
• Hold assets for the medium to long term

Meritage Properties acquires assets directly and in joint venture with other real estate funds, institutional investors and local partners. As an active, hands-on operator, we are pleased to work side by side with other operating partners, and are equally prepared to take the sole leadership role in partnership with more passive real estate investors.

• New York Tri-State area
• Metropolitan Washington/Maryland/Northern Virginia
• Metropolitan Boston
• Providence, Rhode Island

These areas provide key opportunities to generate attractive, risk-adjusted returns. Assets may be acquired outside of these target markets where local real estate, demographic and economic fundamentals make such acquisitions particularly compelling.