Larry Feldman is known for his depth of experience in all facets of real estate, including development, construction, leasing, management & finance. He is well known in the real estate industry for his proven track record of turning around underperforming property through extensive renovation, aggressive promotion and lease-up. Larry Feldman has been the president and CEO of Feldman Equities, Inc. since 1990. Larry and his father Edward Feldman formed Feldman Equities in 1985. Feldman Equities traces its roots to a continuing family owned real estate company that was founded by Larry Feldman’s grandfather, "HJ" Feldman, in 1910. During the mid 1980's, Larry Feldman was primarily a developer/builder. During this period, he developed several major properties in the metropolitan New York area, including a 40 story office tower in Manhattan known as Tower 45. Over the last 15 years, Larry Feldman and his father Ed developed or acquired over 7 Million sq. ft. of office & retail properties with an aggregate value in excess of two billion dollars. Following the early 1990's recession, Feldman expanded by entering into joint ventures with several corporate and private investors including partnerships with GE Capital, George Soros, Morgan Stanley and the Carlyle Group. Many of these investors made above market returns from Feldman's turnaround strategy of buying and renovating under performing property. Many of these investors continued or increased their investment in the Company's initial public offering in 1997. In October of 1997, the company was renamed Tower Realty Trust, Inc. and was reorganized as a Real Estate Investment Trust. The Company was listed on the New York Stock Exchange (symbol: "TOW"). Led by Merrill Lynch, Tower was one of the hottest IPO's of 1997. Tower was a major owner and manager of office and retail property. Including property owned outside of New York, Tower owned 4.6 million square feet of office space, including 50 acres of land under development as an office park. In addition, Tower managed 1 million square feet of retail space. Larry Feldman, age 50, was the Chairman and CEO of Tower Realty Trust, Inc. In May of 1999, Tower Realty Trust, Inc. was sold for approximately $700 Million in cash, stock and debt to an entity controlled by Reckson Associates Realty Corp. ("NYSE: RA"). Reckson is also a publicly traded REIT listed on the New York Stock Exchange. Although Tower has been fully absorbed by Reckson, Larry and his father, Ed Feldman have resumed operations under their old banner as Feldman Equities, Inc.. In late 2001, Feldman Equities executed a contract to acquire Foothills Mall, an enclosed regional mall located in Tucson, Arizona. Foothills Mall is undergoing a highly successful expansion, renovation and lease-up program. Last year, Feldman Equities acquired the Harrisburg East Mall in Harrisburg, PA, while simultaneously arranging two new anchor leases and a the renewals of a third tenant totaling nearly 600,000 square feet. The Harrisburg transaction has rescued and re-shaped the troubled mall into a class A regional mall. Feldman Equities presently owns and manages office and retail property in excess of 2 million square feet, and Feldman owns land for future development. Larry Feldman is also the Founder and Chairman Emeritus of the Midtown West Association of New York and he is a member of ICSC and NAREIT. Larry is also currently the Chairman of the Buildings & Grounds Committee and a member of the Board of trustees of East Woods School on Long Island. |
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FELDMAN OUTLINES MALL TURNAROUND STRATEGIES AT NRC LUNCHEON