Morristown, N.J.  - June 8, 2009 — Normandy Real Estate Partners, one of the largest real estate owners and operators in the Boston to Washington, D.C. corridor, unveiled a new brand identity – The Exchange – for its 14 building portfolio along Westchester County’s I-287 corridor. All told, The Exchange portfolio includes 1.5 million square feet of Class A office space in four separate office parks.

 

“The Exchange is all about community, networking and business contacts – in an extraordinary location with unrivaled access to a network of transportation alternatives,” said Raymond P. Trevisan, principal, Normandy Real Estate Partners. “There’s a unique vibrancy to this community of exceptional buildings that share four parks in close proximity.  It is a phenomenal location served by the best transportation infrastructure in the New York suburban belt. We feel the name ‘The Exchange’ captures the essence of the property – a place for the productive exchange of contacts and business ideas.”

 

The Exchange is home to more than 165 commercial tenants, including JPMorgan Chase, ConEdison, Wells Fargo, and Travelers Insurance, and the appeal of its varied amenities was instrumental in attracting the newest major tenant -- Westchester Medical Group – which signed a new lease for their headquarters office totaling more than 30,000 square feet at The Exchange’s 2700 Westchester Avenue location.

 

“The Exchange offers a competitive environment and features wonderfully manicured office campuses, providing tenants and visitors with a pleasing modern aesthetic, unparalleled highway access, and superior amenities befitting a Class A working environment,” stated Brian J. Carcaterra, Managing Director, Newmark Knight Frank, the leasing agent for the property. “These really are dream spaces for tenants and are well managed by experienced owners and operators in Normandy. With this expansive portfolio, we're able to accommodate a diverse tenant base with space configurations and size alternatives that can serve any company, whether looking for space from 1500 square feet to 100,000 square feet.”

 

Amenities available at The Exchange properties include: on-site dry cleaner, shoe repair shop, barber, cafeteria, catering service, outdoor seating space, sundry shop and a Summerfield Suites Hotel. With an eye on design, the properties featured in The Exchange present themselves as a series of beautifully landscaped, gleaming glass buildings. These buildings feature high-end finishes throughout, with such features as fiber optic communications, DSS satellites, computerized key tag systems and ample onsite parking. Several of the buildings also offer Wi-Fi access in the lobbies, food kiosks and cafeterias, as well as fitness centers with locker-room facilities.

 

Further enhancing the tenant experience, The Exchange properties offer an uncommonly good example of convenience in a suburban office setting. Direct access to 1-287 and I-95 as well as the Hutchinson and Bronx River Parkways add to the appeal of these prime assets, making them comfortably removed from - but extremely accessible to - New York City and the rest of the Tri-State Area.

 

The Exchange is owned and managed by affiliates of Normandy Real Estate Partners, acting on behalf of Core Plus Venture LLC and NR Core Plus Investor LLC, each a joint venture between Normandy and other well capitalized institutional real estate investors.

 

Normandy Real Estate Partners is a vertically-integrated real estate private equity fund manager headquartered in Morristown, NJ with offices in Boston, New York City, and Washington DC. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.0 billion of equity commitments. Normandy’s existing portfolio includes 14 million square feet of commercial assets, 2,500 apartments, four hotels and numerous land development sites. Normandy is presently investing its second discretionary real estate fund, Normandy Real Estate Fund II, L.P. Targeting primarily the Northeast and Mid-Atlantic markets of Boston, Metro New York City, and Washington, D.C. Normandy is pursuing primarily office property equity and non-performing debt investments where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.