WOODBRIDGE, N.J., Jan. 9, 2017 /PRNewswire/ -- Onyx Equities, one of the most active real estate investment firms in the New York Metro area, announces its promotion of Stephen Sullivan to Chief Investment Officer. Sullivan is responsible for sourcing and closing acquisitions as well as overseeing refinancings, recapitalizations, and dispositions. Since joining Onyx in 2011, Stephen has spearheaded over 20 acquisitions/recapitalizations totaling over $1 billion worth of real estate. He has also grown Onyx Equities' portfolio from predominately office into other asset classes. As an example, Onyx is now one of the most active retail purchasers in the market and in the last 24 months has cultivated a pipeline of residential development opportunities in Ridgewood and Woodbridge. Stephen has also been primarily responsible for the addition of many new institutional investment relationships.
John Saraceno, Co-Founder & Managing Principal, stated: "Thanks in large part to Sullivan's leadership of the investment team, Onyx Equities has grown into a full fledged redevelopment and development real estate platform. Our 2016 investment projects would have been considered "outside" of the core mission just two years ago. We are excited to see where he will drive the team in 2017."
Examples of these next-level investments include the purchase of the former Hess facility on Route 9. Other 2016 acquisitions include the former Kmart Plaza in Hazlet, now "Hazlet Town Center," slated for a massive retail redevelopment. 210 W. 31st Street, across from Madison Square Garden, is the investment team's first Manhattan-based, retail redevelopment undertaking. Onyx has also risen to the challenge of repositioning the former AT&T call center, located at 340 Mt. Kemble Avenue, into the site's highest and best use which will include a redesigned office building in addition to residential and hotel components.
Sullivan's experience includes both the owner/operator and private equity sides of the investment business. Prior to his service at Onyx, Sullivan served as Senior Acquisitions Officer at Urdang Capital Management (now Centersquare Investment Management), where he led the East Coast and Midwestern acquisition teams. During his time at Urdang, Stephen successfully sourced and closed over $2.8 billion of real estate totaling 40 transactions encompassing all product types. Prior to Urdang, Stephen worked as an investment analyst at Liberty Property Trust. His professional affiliations include active memberships with ICSC and ULI. Sullivan holds a B.A. from the University of Pennsylvania.
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Driving Onyx Equities' success is its custom-made technology platform that allows on-site and regional management teams to increase operational efficiency, tenant satisfaction and long-term value throughout its portfolio. Since its founding in 2004, Onyx has acquired more than $2 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. Since 2008, the firm has owned, managed or served as the appointed Receiver for more than 57 million square feet of office, retail, industrial, and self-storage properties. The company's rapidly growing Receivership and REO portfolio has recently expanded into 10 states along the east coast. For more information on Onyx Equities, contact the firm at 732-362-8800, or visit www.onyxequities.com.
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SOURCE Onyx Equities, LLC