Hertz Investment Group

Hertz Investment Group is a company that invests in office buildings.

Hertz Investment Group
IndustryReal estate
Founded1979 (1979)
HeadquartersSanta Monica, California
OwnerJudah Hertz
Websitewww.hertzgroup.com

History

In 1979, the company was founded by Judah Hertz.[1]

In 2003, the company acquired a 26-story office tower and retail complex from Simon Property Group for $36 million. The property was sold in 2009.[2]

In 2011, the company sold The Hyatt at Capitol Square in Columbus, Ohio for $19.5 million.[3]

In 2012, the company defaulted on a loan secured by an office building in Kansas City.[4]

In 2013, the company acquired Bridgewater Place, an office building in Grand Rapids, Michigan.[5]

In 2014, the company offered Gateway Center (Pittsburgh) for sale.[6]

In 2015, the company acquired 6 office buildings in the Southeast United States for $417.4 million.[7]

In 2016, the company acquired 4 office towers in Indianapolis, Milwaukee, and Cleveland totaling more than 3 million square feet from Sam Zell's Equity Commonwealth for $416.9 million.[8]

References
  1. "Hertz Investment Group Completes Acquisition of 14 Premier Commercial Real Estate Assets from Parkway Properties". Cision PRWeb. 3 April 2012. Retrieved 2 June 2020.
  2. Moran, Kate (March 15, 2009). "As real estate prices plunge across the country, investor Judah Hertz says he's happy in low-key New Orleans". The Times-Picayune.
  3. Rose, Marla Matzer (September 1, 2011). "Former Hyatt on Capitol Square formally becomes a Sheraton". The Columbus Dispatch.
  4. Vockrodt, Steve (January 27, 2012). "Commerce Tower owner's default sends building into receivership". American City Business Journals.
  5. Harger, Jim (January 25, 2013). "California investment group is buying downtown Grand Rapids' largest office building". Booth Newspapers.
  6. Schooley, Tim (August 11, 2014). "Gateway Center put up for sale". American City Business Journals.
  7. Thurlow, Andrew (June 9, 2015). "Owner of Jacksonville's Bank of America tower acquires $417.4 million Southeast portfolio". American City Business Journals.
  8. BULLARD, STAN (August 29, 2016). "Chicago REIT sells North Point as part of $417 million deal to Hertz Investment Group". Crain Communications.
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