Advance Realty Brings Aboard Four New Professionals
New Hires to Assist Bridgewater, N.J.-Based Company in All Areas
as it Capitalizes on Growth Opportunities
BRIDGEWATER, N.J. (March 1, 2015) — In a move to support its recent growth, Advance Realty — a leading Northeast U.S. owner, developer and manager of Class A office, multifamily, mixed-use and flex-space properties — today announced that it has hired four experienced real estate professionals, who will bolster the firm’s capacity in project management, asset management and business development.
With more than 12 years of commercial real estate experience, Senior Project Manager Miguel Pinho Serra has joined Advance Realty from Adelhardt Construction, in New York City, where he prepared and oversaw several retail and commercial fit-outs, ranging in budget from $400,000 to $5 million. Prior to that, he worked for Michiilli, Inc., and Aragon, LLC – both also in New York City – managing all aspects of fit-out for a range of class A and B commercial buildings. At Advance, Serra is responsible for developing RFPs, bids, contracts and estimates; negotiating contract-terms with service providers; and monitoring overall performance of various project participants.
Project Manager Dan Cocoziello has joined Advance Realty from Structure Tone Inc., in New York City, where he spent five years as a construction superintendant working with a client roster that included Morgan Stanley, Monday Properties and the Durst Organization. Notably, Cocoziello worked alongside the project team leader at Structure Tone throughout the entire course of the Grand Hyatt New York’s remobilization. He also oversaw day-to-day operations of $12 million in construction at 230 Park Avenue and day-to-day operations at 1 Penn Plaza. Cocoziello brings an expertise in project scheduling, budgeting, tracking long-lead items, subcontract coordination and overall management of client relationships.
David Ortner, Advance Realty’s new development associate, worked for Brick City Development Corporation (BCDC) in Newark for four years prior to joining Advance’s team. At BCDC, Ortner maintained the city’s abandoned properties inventory of 800 buildings while coordinating and managing development consulting efforts across numerous asset classes. This included site selection, entitlement, cost review and tenant marketing. He also led efforts to utilize new financing tools, such as establishing an EB-5 regional center, securing a Section 8 HUD revolving loan, applying for federal and state tax credits and abatements, issuing municipal bonds and securing grants. Before pursuing a career in commercial real estate, Ortner practiced law for seven years.
Before joining Advance’s real estate finance team, Asset Management Associate Naresh Patel underwrote more than $2 billion in commercial real estate loans as an investment associate at NorthMarq Capital, and also helped manage Prudential Real Estate Investors (PREI), a $2 billion private REIT. He has managed relationships with private and institutional investors, performed due diligence on all property types, managed loan closings and completed annual reviews of a large loan servicing portfolio. He has also analyzed property budgets, cash flows, internal rates of return, sales comparison reports and direct capitalization valuations.
“We are thrilled to welcome these superb professionals to Advance Realty,” said Peter Cocoziello, Advance Realty’s president and CEO. “These new team members will play a vital role in our success as we continue to grow our operations, expand our capabilities and seek new opportunities in this market.”
About Advance Realty
Advance Realty is a privately owned real estate development, investment and management company headquartered in Bridgewater, N.J. Since its inception in 1979, Advance Realty has acquired or developed more than 10 million square feet of commercial, residential, R&D, industrial and mixed-use projects. Today, the company owns, manages and invests in a diversified portfolio of office, retail, industrial, residential and mixed-use assets in key urban and suburban markets along the Northeast Corridor. The company actively pursues real estate investments that provide opportunity to enhance value through development, repositioning and redevelopment. Advance’s strong capital base, fully integrated platform, outstanding talent and flexibility as a privately held organization position the company for continued growth. For more information, visit www.advancere.com.
