NEW YORK, Jan. 8, 2014 /PRNewswire/ -- Effective today, MPI, Mall Properties, Inc., a leading private owner, developer and operator of commercial real estate, is embracing a new name -- Olshan Properties.
Founded in 1959 by Mort Olshan, the 55-year-old family-run real estate enterprise owns and/or operates a portfolio that encompasses 11 million square feet of retail properties, 19,000 multifamily units, 865 hotel rooms and five million square feet of office buildings. Going forward, the company intends to continue expanding and further diversifying its portfolio through strategic acquisitions and developments across the country. The new name reflects that objective while leveraging the strong reputation for creative, prudent, ethical and profitable investing that has been built over two generations of Olshan family leadership. The new name also unites over 1,000 employees working across the firm's hotel, retail, residential and office properties under one corporate standard.
The company has amassed a portfolio covering 11 states that includes properties such as the Parkchester residential complex in New York City, the Hilton Marco Island Beach Resort and Spa in Florida, The Akers Mill Square shopping center in Atlanta, and 575 Lexington Avenue in midtown Manhattan. It acts as General Partner of the Longview and RCG Longview series of debt and equity funds as well as Normandy Venture Partners, a series of opportunistic equity funds.
"As we grow our company by adding to our footprint throughout the country it is becoming clear that we needed a new name that expresses the diversity of our portfolio and of our capabilities," explained CEO Andrea Olshan. "Years of running our business with prudence and integrity have given us a superior market reputation, and we believe Olshan Properties communicates this and will resonate with all of our current and future private and institutional partners."
Added Ms. Olshan, "As we begin 2014, our entire team, and our Board are very excited to further advance our core mission of building value together under one brand."
About Olshan Properties
Olshan Properties, formerly known as MPI - Mall Properties, Inc. is a privately owned real estate firm specialized in the development, acquisition, leasing and management of commercial real estate for 55 years. The close integration of investment and operating capabilities has given Olshan Properties a reputation as one of the leading private owner/operators of commercial real estate in the country.
Olshan Properties currently owns and/or manages, individually or with its affiliated companies, a diverse portfolio of commercial properties including Retail, Hotel, Office, and Residential in eleven states. For more information, click here.
Olshan Properties also serves as a General Partner of the Longview and RCG Longview series of debt and equity funds as well as the Normandy Venture Partners series of opportunistic equity funds. Our founding sponsorship of these funds has resulted in the investment of $4.7 billion in commercial real estate projects over the past 12 years and leverages our unique investment abilities, operating expertise and industry relationships.
SOURCE Olshan Properties