Venture Targets Office Properties

"The goal for this joint venture is to build a diversified office property equity portfolio," says Mark DePucchio, GE Real Estate's Stamford, CT-based eastern region manager. "This venture combines GE Real Estate's capital strength and industry expertise with Bergman's track record of acquiring, owning, managing and leasing commercial office properties."

"We are launching our new venture with a well-located property, which we expect to offer significant upside to our investors," says Michael DiFede, Bergman's director of business development and acquisitions, referring to Jefferson Plaza. "This is the first of what we expect to be many deals we will be doing with GE Real Estate."

The partners were brought together by the Parsippany, NJ-based Poole & Co., a financing firm, according to Dan Hartman, GE's relationship manager for the Bergman venture.