Two chief executives of real estate firms active in New York have joined together to form a commercial real estate investment group called United Realty Partners, the firm announced this week.
United Realty is headed by Jacob Frydman, formerly of White Acre Equities, and Eli Verschleiser, who previously headed Multi Capital Group. The pair have overseen more than $7 billion worth of real estate transactions, mostly along the east coast. Some of the notable deals they were involved in include the development of One Dag Hammarskjold Plaza along Second Avenue between 47th and 48th streets, the Aetna Building in the Financial District and the Global Crossings Building in Midtown. Most recently, as the CEO of Multi Capital, Verschleiser acted as Waterton’s advisor in its $218 million acquisition of 88 Leonard Street.
Their new company, which also includes 15 real estate professionals, will advice on and invest in commercial real estate properties in all markets, including distressed properties, and sponsor SEC-registered real estate investment trusts.
“We believe there are significant and undiscovered opportunities that are poised for growth and investment,” Verschleiser said in a statement. “This is an exciting time for people who truly understand undervalued commercial properties.” — Adam Fusfeld
