July 26, 2006
Investing in Real Estate
the Old Fashioned Way
 PROFILE OF THE WEEK: Michael Schor Executive Vice President The Treeline Companies |
As an executive vice president of the Treeline Companies, a premiere Long Island-based owner, manager and developer of more than 1.5 million square feet of premier office space, Michael Schor finds properties to invest in the old fashioned way. "We are bricks and mortar investors--we don't look at real estate as a fungible financial instrument. We look for premium locations in central business districts and properties that can benefit from our proactive and responsive management practices. We try to find what is unique about a property and work to fashion a creative acquisition and redevelopment plan for the asset." Schor is responsible for managing Treeline's relationships with lenders, institutional partners and investors, as well as new property acquisitions and dispositions. In addition to his acquisitions duties, Schor remains responsible for overseeing and managing Treeline's entire legal department often involving intricate, complex leasing transactions, acquisitions and dispositions and a wide array of the company's legal matters. |
In addition, Schor is overseeing the formation of a discretionary real estate investment fund for Treeline. The fund is expected to close in the fourth quarter of this year. "Our discretionary real estatefund will allow us significant flexibility in making property acquisitions. We will be able to move quickly and adeptly to tie-up and close transactions on short notice. Treeline's ability to participate inthe increasingly competitive acquisitions market will be greatly enhanced and our investors will be benefited at the same time."
Overseeing a wide array of Treeline acquisitions, including 100, 200, 300 and 400 Garden City Plaza on Long Island, along with 180 Livingston Street and 177 Livingston Street in Brooklyn, he led the Treeline team in its disposition of 2 and 4 Gannett Drive along Westchester County's "Platinum Mile," which fetched a then-record sale price of$200 per square foot. Schor also directed Treeline through some $250 million in refinancing transactions last year while he actively sought development opportunities for Treeline throughout the tri-state area. Schor expects several opportunities to close during 2006: "In evaluating properties for investment, we consider the current income, location and potential of the property, as well as the opportunity to employ our unique expertise in value enhancement," Schor shared. "Strategic acquisition of exceptionally located properties is our goal, and a hallmark of Treeline's success."
Founded in 1985 with headquarters in Garden City, NY, Treeline hasbuilt a strong reputation as a premier, full-service real estate ownership and investment firm not just in Long Island, but beyond, expanding its target markets throughout New York City and its suburbs.
"Treeline currently owns and manages more than 1.5 million square feet of strategically located commercial real estate in the New York Metropolitan area," stated Schor. "The firm's proven and successful approach to investment and property management has been the result of its strong ties and unflagging commitment to the communities we serve."
The Treeline Companies' reputation as a leading owner, developer and investor in Tri-State area commercial real estate has grown along with its numbers of investors and partners, and its property portfolio.
"Our management employs creativity, ingenuity and market expertisefor its success, which is clearly illustrated in Treeline's strong portfolio of value enhanced assets," says Schor. "Over the past two decades, The Treeline Companies has built a reputation for quality ownership and intelligent investment throughout New York City, Long Island and Westchester County."
The Treeline Companies is currently evaluating a broad range of investment opportunities as its business grows to a new level. Prime targets for acquisition include institutional quality properties throughout the tri-state area that will benefit from The Treeline Companies' proven and innovative methods of enhancing value.
"We are always seeking to expand our portfolio through the acquisition of Class A office properties in New York, New Jersey and Connecticut," commented Schor. "As we navigate this new phase in the firm's evolution, including the formation of our discretionary fund, we continue to enjoy our strong relationships among brokers, tenants and. the greater tri-state-area real estate community."