A-Rod Corp, an investment firm led by legendary baseball star Alex Rodriguez, Modlin Group, a boutique real estate agency headed by Adam D. Modlin, and Stonehenge NYC, founded by Ofer Yardeni, has created a new real estate venture.
Ofer Yardeni, chairman and CEO of Stonehenge NYC, said, “As the residential rental market in New York City continues to redefine itself, now more than ever, we need to embrace any change as an opportunity to broaden our strategies and create value for our investors. Stonehenge NYC has typically partnered with large institutional investors and will continue to do so going forward. With our new and exclusive partnership with Modlin Group and A-Rod Corp, we can now welcome a new network of private investors that traditionally have had only limited access to investments in our sector because of deal size and specialization required in the New York market.”
Consistent with Stonehenge NYC’s existing investment strategy and experience, the new venture will partner with private and institutional investors to acquire residential apartment buildings in New York City, one of the world’s strongest and most resilient markets. The venture is well positioned to take advantage of secular trends, including urbanization and generational demographic shifts that are driving the steady demand for residential housing. Stonehenge NYC’s role in the partnership is to originate, underwrite and qualify investment opportunities based on pre-established and pre-approved strategies; manage the business plans and budgets for each asset acquired by the venture; and raise capital for investments through its existing network of institutional and high-net-worth investors as well as through its recently established crowdfunding platform, Stonehenge Invest.
A-Rod Corp will be actively involved in the decision-making process and will introduce investment opportunities to its network of institutional and high-net-worth investors. Modlin Group has extensive experience in the New York residential market and enjoys an enviable reputation, particularly in the high-end sector of the market. Modlin Group will be involved in elaborating strategic plans to ensure that building design and layouts cater to the evolving needs of discerning tenants.
