With a focus on value add and opportunistic real estate investment, Argent has established a multi-decade track record of investment success across all major asset classes.
Argent Ventures acquired the former global headquarters of Honeywell International in 2020. The acquisition included a long-term leaseback with Honeywell for a portion of the office and lab space. Located at 115 Tabor Road in Morris Plains, New Jersey, the property is situated in the heart of one of the most established Class A office markets in the Tri-State Metropolitan Area and features a 465,133 square foot Class A office building, structured parking garage, and helipad. The purchase of such a trophy asset, significantly below replacement costs with stable cash flow from a credit tenant, represented one of the most compelling value add opportunities in the suburban NJ market.
Beginning in 2015, Argent Ventures, through multiple transactions, assembled a 14-acre waterfront development site in Jersey City. Working collaboratively with city officials and neighborhood groups, Argent successfully rezoned the site to allow for up to 2,840 residential units. Zoning allows for multiple uses including residential, office, retail, hotel, laboratory and research facilities.
Argent Ventures acquired University Square, a 361,000 square foot office campus in 2019. The property, a Class A office building anchored by BlackRock, is located in Princeton, one of the strongest office markets in New Jersey. The acquisition represented a unique opportunity to acquire a best-in-class office building with long-term stable cash flow, secured by strong credit tenancy, with value-add opportunity through additional leasing.
Argent Ventures acquired Westchester One, a 907,000 square foot Class A office building, in 2017. The property is located in the downtown Central Business District of White Plains, New York, and is anchored by New York Life. The acquisition represents a part of the Argent investment thesis to target institutionally owned and operated assets with credit tenancy that trade below replacement value.
Argent Ventures purchased this 5-acre property, located in the Journal Square section of Jersey City, in 2013. The site housed the former Muller Pasta Factory, which has since been demolished to make way for a mixed-use development with 980 residential units, retail, below-grade parking, and a publicly accessible landscaped promenade providing unobstructed views of Manhattan. Argent is co-developing the project with Jersey City-based developer Shuster Development.
Argent acquired this 1.3 million square foot iconic property net leased to The Metropolitan Transit Authority of the State of New York (MTA). As part of the deal, Argent also acquired approximately 1.3 million square feet of transferable development rights and 140 miles of land under the railroad tracks.
Argent and its joint venture partners acquired this 520-bed nursing facility in 2013. Working with its operating partners, Argent is focused on enhancing operating and financial performance by improving the asset to provide higher quality rehab and nursing services to residents.
Argent acquired 1,000 rent-regulated and unregulated cooperative and condominium apartments located throughout Manhattan, Brooklyn and Queens. More than 400 units have been sold to date.
Argent acquired this 800,000 square foot office/lab campus that included one of the largest development sites in Westchester County from the foreclosing lender and then leased up the existing property and sold it to BioMed Realty Trust in 2004. Argent sold a retail development site to Home Depot in 2006, and sold the remaining 100 acres of adjacent development land to Regeneron Pharmaceuticals in 2015.
Argent acquired this former 600,000 square foot industrial building adjacent to the La Defense district in Paris and successfully re-zoned it for office use and then developed it in partnership with HRO International. The property was sold to Gecina Group in 2006.
Argent acquired this vacant 635,000 square foot property in a partnership with an institutional partner. The property was subsequently leased and sold to a pension fund.
Argent acquired this 330,000 square foot substantially vacant industrial/office building in 1999 and then conducted a repositioning to upgrade the facility into a 100% occupied, state-of-the-art telecom/data center. The property was sold to Global Innovation Partners/CalPERS in 2002.
Argent acquired an 185,000 square foot vacant office condominium unit in the 1.3 million square foot Class A office tower. Argent renovated and parceled the unit, which was later sold to multiple users in 2000-2001.
Argent acquired this 400,000 square foot suburban office center that was 65% occupied by a tenant with a near-term lease expiration. Argent then successfully renewed the lease and sold the property in 2000 to Heitman/CalSTRS.
Argent Ventures acquired the senior mortgage secured by the partial fee and partial leasehold interest in 1605 Broadway. Located in the heart of Times Square, 1605 Broadway is a prominent mixed-use asset featuring: 795 hotel rooms (The Crowne Plaza Times Square), 196,300 square feet of office space, 17,800 square feet of ground floor retail including a new flagship Krispy Kreme location, 31,800 square feet of fitness space, Times Square signage, and a 159-space parking garage. Due to the circumstances of the pandemic beginning in 2020, Argent was able to purchase the mortgage at a significant discount to the remaining unpaid balance, representing a low acquisition basis at a fraction of replacement cost.
Argent acquired the debt secured against this 54-unit condominium development in 2012. After negotiations with the borrower, Argent successfully liquidated its position in 2013.
Argent acquired the senior mortgage on this 66% occupied, 920,000 square foot Class A office tower and then obtained the fee interest through a work out. After taking title, Argent successfully executed an extensive renovation, released vacant space and sold the building to SL Green in 2001.
Argent acquired the mortgage on the leasehold of this 1.2 million square foot building, subsequently consolidating the leasehold and fee interest to sell the property.