Trevi Retail Becomes HUBB NYC Properties
Retail Real Estate Investment Firm Expands Strategy to Include Residential Properties
NEW YORK, March 3, 2015 /PRNewswire/ -- Trevi Retail, a privately held Manhattan retail real estate firm, announced today its name change to HUBB NYC Properties ("HUBB NYC"). HUBB NYC is formally expanding its investment strategy to include residential real estate, in addition to retail. The company will now focus on building both retail and residential holdings under the new banner.
Underscoring the new commitment HUBB NYC now has for residential properties, the company bought a four-building residential portfolio in the Upper East Side for $100M late last year – the first pure residential purchase for the company. It was seen as an unusual move for a company that predominately focused on just retail properties.
"We started off in 2011 specializing in retail. Over the years, we acquired quite a few apartments that came with high-quality retail, and in doing so, we built up the expertise to take advantage of the opportunity to buy the Upper East Side residential portfolio," says Johnny McCarthy, President and Senior Managing Director of HUBB NYC.
McCarthy elaborates on the name change: "After we bought the large residential portfolio, the name 'Trevi Retail' no longer seemed relevant. HUBB NYC is more fitting – we provide highly desirable 'hubs' where New Yorkers spend a large majority of time. These include apartments and stores, all located in Manhattan, the greatest hub of them all."
HUBB NYC, which currently owns and manages 23 residential and commercial properties, will continue to focus on adding more buildings, both retail and residential, to the current portfolio.
For more information on HUBB NYC, please visit us at www.hubbnyc.com.
About HUBB NYC
HUBB NYC is a privately held Manhattan real estate operating company that invests in retail and residential properties located in Manhattan. Since its inception in October 2011, HUBB NYC (formerly Trevi Retail) has acquired 23 retail and residential properties throughout Manhattan.
The well-capitalized firm has earned a reputation for closing deals quickly and for building a tenant-centered service model to enhance the experience of living in Manhattan. The newly branded company continues to actively pursue acquisition opportunities for retail condominiums, rental properties and mixed-use buildings throughout Manhattan. For more information, visit www.hubbnyc.com.
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SOURCE HUBB NYC
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