ALLIED PARTNERS is a privately held real estate investment, development and asset management company founded in 1993 by Eric Hadar, Chairman and CEO. The Company’s core strategy is to invest the Hadar family’s capital in opportunistic real estate investments where intensive hands-on management and creative redevelopment strategies provide significant value creation. Allied continues to source investment opportunities based on its ability to solve complex physical, legal and financial challenges using unorthodox ownership and financial structures. The Company is further identified based on its skill in the development and management of complex projects including ground-up construction development as well as the renovation and repositioning of occupied buildings and conversions of existing buildings to alternative uses. Allied's core assets are managed internally by its highly experienced leasing and property management team including both on-site and central office management professionals.
To date, Allied has acquired in excess of 30 properties. Among Allied's most notable acquisitions are the purchase of the 1.65 million square foot Citigroup Center, a trophy office building located in midtown Manhattan; the LVMH building located at the corner of Fifth Avenue and 57th Street; the former Studio 54 theater and adjacent office tower; the legendary Brill Building, a 175,000 square foot landmark retail and office building located in Times Square; a 250,000 square foot development site on West 40th Street directly overlooking Bryant Park and The Savoy Hotel, an oceanfront hotel located on 5th Street and Ocean Drive in Miami Beach. Allied is also an experienced developer having completed the ground up development of Woodbury Centre, a 230,000 square foot shopping center and hotel site next to Woodbury Commons in Woodbury, New York as well as the redevelopment of 285 Lafayette Street in Soho, a luxury condominium conversion in which Allied gut renovated and enlarged a 100 year old factory adding an additional 4 floors while the building remained occupied.
Allied is also an active lender having funded over $300 million in real estate loans in recent years on assets in which it would be comfortable in a long-term ownership position. The company acquires and originates both first mortgage and subordinate debt, including the acquisition of “B-pieces” from commercial and investment banks as well as originates mezzanine and first mortgage bridge loans to owners and developers in situations where immediate funding is required.
Allied Partners is an owner and member of the Executive Committee of Terra Holdings, the parent company of Brown Harris Stevens and Halstead Property. Terra is among the largest privately owned residential real estate brokerage and management firms in the country with a total of 45 offices, approximately 1,400 sales agents, with total annual residential sales volume in excess of $12 billion. The company also manages approximately 370 residential buildings with a staff of over 700 personnel including property managers, accounting, appraisal, market research, IT, and ancillary service personnel.