| Cathartes Investments Purchases 410 8th Street,
Hoboken, New Jersey, for $2.4 Million |
Boston, MA (March 2000) Cathartes Investments is pleased to
announce that on March 17, 2000 it completed the acquisition of 410 8th Street,
Hoboken, New Jersey. Jeff Johnston, Acquisitions Director at Cathartes, handled
the acquisition for his firm. The seller was Albee Services, Inc. The purchase
price was $2,400,000. Geometry Realty was the lender for the acquisition.
The 73,000 SF four-story building is currently used for industrial
purposes but is surrounded by a residential neighborhood. It has 17' ceilings
and exceptional views of the Manhattan skyline. Additionally, it is within
walking distance of the new Light Rail system, which is scheduled to begin
operations in Hoboken by September 2000. Preliminary plans for the building are
for residential redevelopment.
Cathartes Investments
(www.cathartes.com) is a real estate investment and development firm
specializing in acquiring and developing undervalued commercial, industrial and
residential properties in major North American markets. Geometry Realty is a
real estate investment and operating organization and is a wholly owned
subsidiary of Geometry Group, Inc. (www.geometrygroup.com), a globally
diversified investment management holding company established in 1989 that
currently manages in excess of $1.5 billion in assets.
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