Placements and Investments
August 2010 - Parkmont Capital, LLC, a real estate finance, investment, and management firm in NY and NJ, and Safeguard Realty Management, Inc. a property management company in NY have formed a joint venture company, Safeguard Realty Management NJ, LLC, based in Bloomfield NJ. The new company will service the growth in real estate receiverships and asset management assignments in the State of New Jersey, Eastern Pennsylvania and Southern New York State. Peter Amari, President of Parkmont Capital, is the President of the joint venture company which provides fully integrated asset, property management and brokerage services: rent collections, bill payment, reporting, accounting, leasing and sales, and related financial services. Jointly, Parkmont and Safeguard have 25 years of combined experience in property management and real estate finance and presently manage a portfolio with 100 commercial properties in the New York Metro area. The joint venture company works with banks, their attorneys and agencies on receiverships, property management and turnaround plans for their distressed and impaired assets and holds a substantial pipeline of new assignments.
For more information please call Peter Amari: (973) 658-5255 (O)
May 2010 - Parkmont Capital was retained by a Massachusetts developer to help structure and arrange a $5,000,000 construction/perm loan for a 12,000 square foot office building net leased to GSA and to be built in Puerto Rico. The project will be a build-to-suit and the office building will have special design requirements to meet the security needs of the US Government agency that will occupy it.
May 2010 - Parkmont Capital, LLC was selected by a Brooklyn, New York based lending institution to market the sale of non performing Notes and REO on 25 projects. The Notes represent individual senior mortgage loans on construction, rehabilitation or pre-development projects located in the New York metropolitan area. Projects include all property types including condominiums, multifamily and single family properties, retail, office, hotel and land.
January 2010 - Parkmont Capital has been selected to be the investment advisor to a New Jersey based investment group specializing in buying portfolios of Net Leased properties with tenants carrying an investment grade rating. The investment group desires to monetize a pool of net leased properties. Parkmont will be responsible for the investment due diligence, the private placement memorandum, arranging the equity and closing the transaction. Parkmont may retain the role of investment administrator for the new investors. Peter Amari, President of Parkmont Capital, held a senior level position for seven years at Capital Lease Funding, Inc. a leader in the net lease finance and investment market in the United States. Mr. Amari had responsibilities for financing, investment and management of assets.
December 2009 - Parkmont Capital, LLC approved as Registered Investment Adviser through the New Jersey Bureau of Securities. The firm will use the designation to become sponsor and co-sponsor of new investment funds in private equity and real estate.
December 2009 - Parkmont Capital is pleased to announce its alliance with Belmont Construction Corp., a Construction Management and Development company. Parkmont and Belmont plan to work together on opportunities that involve unfinished construction projects, acquisition of projects that involve major renovations and as work-out advisors on troubled construction projects for lending institutions. Belmont has been involved in the New York/New Jersey/Pennsylvania real estate markets for over 35 years as consultant and manager of a wide array of public and private projects for institutional and commercial owners, including real estate developers, architects, financial institutions, municipalities, county, state and federal government agencies throughout the New York Tri-State Area. The Company has built and managed over 2.5 million square feet of commercial and residential space. More on Belmont at www.belmontconstruction.com
October 2009 - Parkmont Capital, LLC was selected by Pennsylvania based lending institution to market the sale of non performing Notes and REO on 13 projects. Some Notes represent participations in larger facilities and Seller is one of several other lenders on these projects. The Notes represent individual non-crossed senior mortgage loans on construction, rehabilitation or pre-development projects located throughout the United States, with a concentration in the Eastern Seaboard. Projects include all property types including condominiums, multifamily and single family properties, retail, office, hotel and land.
September 2009 - Parkmont Capital, LLC has been selected by a court appointed receiver to serve as the asset manager for four New Jersey properties during foreclosure proceedings. The assets are comprised of multifamily and office properties and are in various stages of foreclosure. The assets had been neglected by the owner and required active management to forestall further asset and cash flow deterioration. Parkmont was selected because of its experience with banking, work-out and foreclosure process as well as its hands-on management experience with its own portfolio of New Jersey properties.
September 2009 - Parkmont Capital, LLC and Safeguard Realty Management, Inc. were invited by NJ TRANSIT to participate in a request for proposals (RFP). The RFP involved the lease management and administration of approximately 400 leases for Tenants and Parking Operations on behalf of NJ TRANSIT ? Real Estate and Economic Development Department.
January 2009 - Parkmont Capital, LLC was retained by a New Jersey partnership as financial advisor for the acquisition and re-capitalization of a 190,000 square foot medical and professional office building located in the New York Metropolitan area. The assignment includes underwriting of the transaction, structuring the partnership, and placing approximately $35 million of debt and equity with institutions and private equity sources. Medical office buildings are viewed as attractive investments because of their cash flow stability. Doctors sign long term leases, there is lower tenant turnover as doctors need to be close to their patients, the market outlook is stable and growing as the population ages, and the need for doctors to consolidate practices in a larger technology ready facilities where they can have access to the latest in medical technology.
August 2008 - Parkmont Capital, LLC has been retained by an Investor and his law firm as a Financial Advisor in the review and negotiation of a triple net ground lease for a mixed use development project in New York City estimated to exceed $200 million. Parkmont, with extensive expertise in net leases finance and investments, provided the client with critical advice that will lead to a stronger Lease and more efficient finance of the lease payments.
May 2008 - Parkmont Capital has been retained by a New York developer to help structure and arrange an initial $11,000,000 bridge loan for the acquisition of a 200,000 square foot shopping center located in South Carolina. After a two year ownership period and re-positioning of the shopping center, Parkmont will re-finance the loan. The client is purchasing a leasehold interest which is subordinate to a ground lease with 28 years remaining. Parkmont facilitated the creation of a loan structure that resolves the risk of the short term ground lease for the lender.
April 2008 - Parkmont Capital has been retained by a New York City parking garage operator to help structure and arrange a $20,000,000 loan for an office building and a 1,000 car parking lot adjacent to a New York area airport. Parkmont was selected to source the financing because of its expertise and close relationships with private debt capital sources.
March 2008 - Parkmont Capital arranged a $1,500,000 construction loan for a speculative luxury residence to be built in Riverdale, Bronx, New York. The lender advanced 100% of the hard costs. The Resheff Company, the developer, was pleased with the execution, especially in a challenging residential market environment.
February 2008 - Parkmont Capital LLC arranged a bridge loan and first mortgage of $10,500,000 for the refinancing of a 100,000 square foot office building located in Oradell, New Jersey. The loans were closed in record time to accommodate the imminent maturity of a prior financing on the property. Client and lender were very pleased with the execution of the transaction.
March 2007 - MRCP Realty Investments LLC, an affiliate of Parkmont Capital LLC, purchases 60,000 sq. ft. New Jersey Shopping Center for $6,200,000.
Parkmont Capital announced that one of its affiliates, MCRP Realty Investments, LLC., closed on a 60,000 sq.ft. neighborhood shopping center anchored by a supermarket. The center is located in the City of Trenton, New Jersey and offers value appreciation from lease-up of vacancies and out-parcel development. The ownership is a partnership of MCRP Realty Investments, LLC and a New York City real estate equity fund. Peter Amari, President of Parkmont Capital, arranged the equity and a loan of $5,120,000 with Morgan Stanley. MCRP will manage the property.
October 2006 - Parkmont Capital is retained for an equity placement in a US corporate development program.
A US brand name consumer goods company is embarking on a store and franchise expansion program which entails the development of over 280 stores and distribution centers nationwide. EDEN Property Company, a development firm based in New Jersey-and specialized in the retail industry, is mandated to lead the construction of new stores in the Southeast and Midwest. Parkmont Capital was called to advise EDEN on the placement of $10 million in equity to capitalize the first phase of the corporate expansion program.
July 2006 - Parkmont Capital LLC, forms alliance with TransAmerican Mortgage Corporation.
Parkmont Capital announced that it formed an alliance with TransAmerican Mortgage Corp. of Queens, New York. Parkmont will act as its structuring and placement agent for commercial loans that TransAmerican originates in the New York City area. "We are very pleased to be working with Parkmont," said Ms. Angie Diaz, President of TransAmerican, "this will help us quickly expend our platform of products and services that we offer our clients." For more on TransAmerican go to www.transamericanmortg.com .
January 2006 - Parkmont Capital LLC forms MCRP Realty Investments LLC to own and manage a portfolio of real estate assets.
Parkmont Capital formed MCRP Realty Investments, LLC, a real estate management and investment partnership to oversee the leasing and management of a portfolio of multifamily and retail properties in the New York metro area with an estimated value of over $10 million.
December 2005 - Parkmont Capital LLC and Safeguard Realty Management, Inc. work together on a loan advisory assignment.
Parkmont Capital and Safeguard Realty Management, Inc. advised a corporate client on a portfolio of loans collateralized with various real estate assets located in the New York City area. The assignment called for a market valuation of the real estate properties that were securing various loans to a borrower that was in Chapter 11 reorganization. Mr. Gagliano, President of Safeguard, said that: "Mr. Amari's longstanding expertise in real estate finance and investments was a most invaluable addition to our team of experts in successfully completing the assignment."
September 2005 - Parkmont Capital Retained As Net Lease Expert.
Peter Amari, President of Parkmont Capital, was retained by the New Jersey law firm of McElroy, Deutsch, Mulvaney & Carpenter, LLP, to be an adviser in a litigation case involving the financial valuation of two retail net leases. John Darcy, Senior litigation council on the case said; "We retained Mr. Amari because of his extensive experience in net lease finance and valuations. He prepared an incisive comparative financial value analysis of the two leases that proved key in helping my client reach a satisfactory resolution of the case."
August 2005 - Parkmont Capital LLC Secures 95% Construction Financing.
Parkmont Capital arranged loans in excess of $5 Million for the construction of national retail stores in the Midwest. Peter Amari, President of Parkmont, placed the loans and provided advisory services to the developer, that included lease review, loan documents review, review of construction budget and lender negotiations. Financing was based on floating Libor pricing with a term of 12 months and extension options. The loan equaled 95% of cost. The developer was delighted with the execution: " Parkmont Capital arranged a construction/mini-perm loan that covered 95% of costs and helped me close the deal without the need of a money partner. Parkmont efforts exceeded traditional loan placement services and included valuable advice with the financing structure, loan application, negotiation and closing."