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About Us
WHO IS MERITAGE PROPERTIES?
Andrew Nathan founded Meritage Properties on March 1, 2003 after 16 years of industry experience as a senior partner with Tishman Speyer Properties, one of the nation's premier real estate firms. With millions of square feet of commercial, residential and retail development to his credit, Mr. Nathan continues to focus his attention on versatile acquisitions with the greatest potential for repositioning and value creation.
Art DellaSalla joined Meritage as a managing director of the firm in November, 2004. Mr. DellaSalla brings 9 years of quality experience in market research, analysis and investment sales at Grubb & Ellis, completing over $500 million in property sales during his last several years there.
Mr. Nathan's and Mr. DellaSalla's extensive backgrounds and deep industry relationships ideally position Meritage to create value through a combination of strong deal sourcing and disciplined underwriting capability, sophisticated structuring and financing techniques, and aggressive operating principles.
In addition to Andy and Art, Meritage Properties has two associates, Erin Daly and Justin Nonemaker. Erin joined the firm in August 2004 upon her graduation from the University of North Carolina at Chapel Hill. Erin was the sole undergraduate intern at Tishman Speyer over the summer of 2002, and consequently, has come to Meritage with a strong background in numerous roles critical to the real estate asset management business. Justin Nonemaker, the latest addition to the firm, joined in December of 2005. Prior to Meritage Properties, Justin spent three and a half years as an Institutional Salesperson at Goldman Sachs in New York. Both his strong financial background and his experience in working with an Institutional client base make him a complementary addition to the rest of the team at Meritage. Justin and Erin focus much of their attention conducting primary research on new target markets, involving themselves in the due diligence phase of target acquisitions, as well as managing current assets in the portfolio.
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: $10-120 million
- Target Hold Period: 3-10 years
Meritage Properties' investment philosophy:
- Acquire a geographically targeted, mixed portfolio of quality real estate assets at intrinsically attractive prices
- Leverage each acquisition prudently
- Aggressively manage each asset and the overall portfolio
- Hold assets for the medium to long term
WHERE IS MERITAGE PROPERTIES?
- New York Tri-State area
- Metropolitan Washington/Maryland/Northern Virginia
- Boston
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.
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