“Throughout our history, one guiding principal has remained constant: No matter the size of the project or the footprint of the tenant, we take pride in our professionalism, honesty and integrity.”
—Steven Bergman, Chief Operating Officer

See where broad experience and proven abilities come together

When it comes to acquiring, financing, operating and repositioning underperforming properties, Bergman Real Estate Group has a proven track record. We consistently create above-average returns and significant value appreciation.

Throughout its history, Bergman has acquired over 37 commercial properties with a combined market value in excess of $500 million.
• 27 office properties comprising over 3.1 million square feet
• 10 garden apartment properties containing over 3,500 units

Bergman also provides third-party management, leasing and investment brokerage services for owners of office and other commercial property throughout the Tri-State Area.

View our case studies:

Buy, Refinance & HoldBuy, Reposition & SellBuy, Recapitalize & Hold
The goal is to acquire undervalued properties at an attractive basis, enhance the value of the building through improvements and lease-up to a stabilized occupancy, and then refinance the asset to recapture the original equity investment.

The Berk Portfolio

6 office properties, 430,000 SF
Acquired 1996-2000

Cost:
$34.5M ($80.25/sf)

Total Equity Investment:
$9.15M

Investment Returns:
• Cash returns: $41.5M
• Equity Multiple: 4.5x

We have refinanced multiple times and we continue to own all 6 properties which remain well-occupied and cash flowing.

We seek to acquire undervalued properties at an attractive basis, improve the value of the asset through strategic repositioning and lease-up to a stabilized occupancy, and then sell the property to capture maximum value.

The New Providence Deal

2 office buildings, 175,000 SF
Acquired November 2014

Cost:
$12.25M ($70/sf)

Seller leased back the 63,000 SF Class B building on a 10-year net lease, leaving the Class A building of 112,000 SF 70% vacant. At closing, we sold off the 63,000 SF building for $10.45M, thereby reducing the net purchase price to $2.25M ($20/SF).

Investment Returns:
• Leased 60,000 SF in 12 months
• Stabilized occupancy at 85%
• Sold Property at 18 months for $14.0M

The goal is to acquire undervalued properties at an attractive basis and creating value through repositioning and lease-up. Upon stabilizing the occupancy, we look to recapitalize the property with new debt and equity to achieve: (i) maximum profits for our original equity investors, and (ii) our desire to stay with the property for a longer term creating additional value and returns for a new capital partner.

45 Eisenhower, Paramus

5-story office building, 175,000 SF
Acquired July 1997

Acquisition Cost:
$13.5M ($77/sf)

Total Project Cost:
$16.6M ($95/sf)

Occupancy:
50%

Investment Returns:
• Stabilized the occupancy to 90% in 3 years
• We recapitalized with a new financial partner for $22M
• Achieved IRR of +22%