NEW YORK, March 22, 2016 /PRNewswire/ -- Borough Equities, the vertically integrated real estate owner and developer headquartered in New York City, together with National Condo Advisors, LLC, have announced a joint venture focused on delivering construction management services to condominium and cooperative developers, lenders, investors and clients across all asset classes. Borough Equities' construction management arm seeks to optimize costs and efficiency and ensure that design, material and safety requirements are met, aligning with agency and lender requirements, compliance, and other project guidelines as overseen by National Condo Advisors.
Commenting on the JV, Michael Bauer, Founder and Principal of Borough Equities, noted, "Construction management services are extremely important in today's more cautious market. Greater scrutiny of safety and risk management necessitates the strategic alignment with rising benchmarks for return on investment. Our joint venture with National Condo Advisors brings us a step closer to providing this critical balance to developers, investors and lenders who are target users of our services."
Orest Tomaselli, CEO of National Condo Advisors, noted, "Lenders are focused on financial risk management and timely, safe completion of projects. We are confident that Borough Equities, with its extensive experience as a builder, developer, owner and operator, is positioned to deliver construction management services to better manage this risk and help ensure the success of our clients' construction and development projects."
The partnership envisions a more seamless and efficient approach to all aspects of a project, from due diligence, lender financing, through to completion. It also seeks to support and protect equity investor positions through changing market cycles.
About Borough Equities
Borough Equities (boroughequities.com) is an owner, operator and developer of residential and commercial real estate. From adaptive reuse and repositioning of existing assets to ground-up development, the Company leverages proven expertise and a diverse set of capabilities to achieve superior risk-adjusted returns. As a vertically integrated real estate owner and developer, Borough Equities manages all aspects of its projects and acquisitions; from sourcing, underwriting, budgeting, financing and development management, to ongoing construction and property management. The Company pursues opportunistic real estate investments, focusing on ground-up development and repositioning opportunities in assets with significant value-add potential and calculated downside risk.
About National Condo Advisors
National Condo Advisors, LLC brings condominium and cooperative developments into compliance with agency and lender guidelines so that mortgage lending can be accessible to borrowers and warrantable by lenders. Experts in alignment, review, planning, submission and approval of condominium and cooperative developments, the Company is the leading national compliance firm for condominium and cooperative developments specializing in financing compliance services specifically tailored for clients seeking Fannie Mae, FHA, VA and Lender approval. National Condo Advisors has successfully helped over 3,000 developments across the country obtain project approval. Founded in 2009, the firm is headquartered in New York and maintains offices and employees across the country.
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SOURCE Borough Equities