Signature Group Investments traces its roots to NWJ Companies, started in Philadelphia in 1992 under the leadership of current Signature Group Investments CEO Nick Jekogian.
NWJ Companies adhered to a strategy of acquiring inefficiently managed apartment and retail properties meeting the company’s improvement criteria.
In the tradition of NWJ Companies, Signature Group Investments continues to focus on value-added strategies in multifamily property and other real estate asset classes.
Signature Group Investments has developed over 5,000 multifamily units in 18 US markets.
Retail & Office
Signature Group Investments’ CEO Nick Jekogian has over 20 years of experience developing commercial properties in the New York Metro Area for retailers such as CVS and Blockbuster Video and office buildings for the U.S. General Services Administration.
With Site Development, Inc., Mr. Jekogian lead the real estate roll out in New York City and along the entire U.S. east coast for one of the fastest growing retailers ever, Commerce Bank, from the early stages until the end in 2009 with its sale for over $8.2 Billion. Services for Commerce Bank included:
Community Board presentations and negotiations
Approvals and permitting
SGI’s acquisition business model focuses on sourcing REO and distressed loan opportunities directly from local community banks, which have been slower to deal with their problem loans, thereby creating an opportunity now.
Direct Approach – SGI Acquisitions Team solicits small/mid-size banks regulated by FDIC on a national basis unlike our competitors who buy assets through intermediaries and focus on larger banks.
Pricing Advantage – Historically, SGI has achieved a discount on price of 20% as compared to larger pools sold through intermediaries.
Nationwide Approach – SGI’s Acquisitions Team solicits banks and sellers throughout the U.S., not just money center institutions.
Deal Size – Because deal size at local and community banks is typically smaller than $10,000,000 on a pooled basis, SGI does not compete with larger, more institutional buyers.
Real Estate Investment Trust
In November of 2011, a new management team led by Nick Jekogian, CEO of Signature Group Investments, took over the operations of Presidential Realty Corp, a publicly traded real estate investment trust, and made a strategic investment in the company.
The team set in place a strategic plan to reduce operating costs and to implement a growth strategy that focuses on the acquisition and UPREIT of class B multifamily apartment units across the country. The ultimate goal is to grow Presidential into a major owner of multifamily apartment units.
The company is currently seeking out owners of apartment portfolios in secondary and tertiary markets to discuss the potential contribution of units into the REIT, as well as capital funding partners contributing cash that would be used to purchase apartment portfolios. Presidential’s Class A and Class B common stock currently trade in over-the-counter market under the symbols PDNLA, and PDNLB, respectively.