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Al Berger forms real estate firm - Al Berger and Company Inc - Brief Article
Real Estate Weekly, Feb 19, 1992
Albert I. Berger, former senior vice president of Helmsley-Spear, Inc. and chief executive officer of Helmsley-Greenfield, Inc., has announced the formation of a new company, Al Berger & Co. Inc. The real estate firm will provide investment, financial and tenant representation services throughout the Eastern United States.
The company is headquartered in Rutherford, New Jersey, and a Philadelphia branch is planned for next year.
According to Berger, the current climate provides a number of unusual offerings, including acquisition and refinancing loans with favorable interest rates; foreclosed properties with potential for long-term profitability, and a possible renogotiation of lease terms for commercial tenants.
On behalf of its clients, Al Berger & Co. has begun to acquire portfolios of mortgages, multi-family residential developments and industrial properties.
Berger has provided real estate services for office and industrial properties, multifamily homes, shopping centers and hotels in the tri-state region. As director of Helmsley's New Jersey and Philadelphia brokerage operations, Berger managed a staff of 130 in seven offices and oversaw the management of 5 million square feet.
In addition, he oversaw more than $1 billion in real estate transactions, including the $100 million financing of the Blue Cross/Blue Shield facility in Newark, New Jersey.
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