Meritus Realty Ventures acquires, repositions, and manages necessity-driven retail shopping centers and medical buildings throughout the eastern United States.
We focus on amenitized suburban communities with strong demographics, infrastructure, roadway access, transit locations, universities, corporate parks, hospitals, recreational amenities and hospitality.
With a balanced approach focused around steady, cash-flowing properties with select value-add projects, our goal is to unlock the full potential in all our investments and maximize shareholder value.
Through a versatile asset management and development platform, Meritus adds value through implementation of best practices in the acquisition, management, leasing, and long-term sustainability of our assets.
[1976 – 2004] Sponsor forms private company that owns 142 shopping centers and goes public via REIT "Heritage Property Trust"
[2006 – 2008] Heritage REIT sold to Centro Properties (now Brixmor) for $3.4 Billion
[2009 – 2014] Former principals of Heritage form Integrated Properties to manage shopping centers in the Northeast USA
[2015 – 2020] Meritus Real Estate formed in joint venture with Integrated -- recently completed a $65M Class A Supermarket anchored asset repositioning
[2021 – ] Mertitus and Integrated focus on the Essential Assets Strategy to capture superior assets offering quality risk-adjusted returns
[1976 – 2004]
Sponsor forms private company that owns 142 shopping centers and goes public via REIT "Heritage Property Trust"
[2006 – 2008]
Heritage REIT sold to Centro Properties (now Brixmor) for $3.4 Billion
[2009 – 2014]
Former principals of Heritage form Integrated Properties to manage shopping centers in the Northeast USA
[2015 – 2020]
Meritus Real Estate formed in joint venture with Integrated -- recently completed a $65M Class A Supermarket anchored asset repositioning
[2021 – ]
Mertitus and Integrated focus on the Essential Assets Strategy to capture superior assets offering quality risk-adjusted returns
First retail centers are purchased on behalf of private investors.
NETT Properties is formed to acquire and manage commercial properties on behalf of the New England Teamsters Trucking Industry Pension Fund.
NETT Properties has grown its portfolio to over 80 properties.
NETT Properties changes its name to Heritage Property Investment Trust.
Heritage acquires public REIT Bradley Real Estate for $1.2 billion and takes it private.
First retail centers are purchased on behalf of private investors.
NETT Properties is formed to acquire and manage commercial properties on behalf of the New England Teamsters Trucking Industry Pension Fund.
NETT Properties has grown its portfolio to over 80 properties.
With 142 large-scale Shopping Centers in 26 states, Heritage goes public and completes its IPO on the NYSE – (HTG).
Headquartered in Boston and with a dozen satellite offices throughout the US, Heritage is one of the nation’s prominent publicly traded retail REITs, valued at more than $3 billion.
Heritage sells its portfolio to Centro Properties (now Brixmor Property Group) for $3.4 billion.
Integrated Properties is formed by former Heritage execs to third-party manage and operate commercial assets on behalf of private owners.
Integrated Properties manages a portfolio of properties in NY, MA, WI, MD, NH, RI, and VA.
NETT Properties changes its name to Heritage Property Investment Trust.
Heritage acquires public REIT Bradley Real Estate for $1.2 billion and takes it private.
With 142 large-scale Shopping Centers in 26 states, Heritage goes public and completes its IPO on the NYSE – (HTG).
Meritus Realty Ventures is formed to acquire retail and medical assets on its own account with Integrated Properties serving as its management provider.
Meritus acquires and operates retail and medical properties in MD, PA, NJ, and NY.
Meritus completes its comprehensive $75M redevelopment of The Landing at Woodyard, a marquee 210,000 square-foot retail center in the Washington DC MSA.
Meritus Realty Ventures launches its Essential Asset Strategy, focused on capital preservation and long term income growth, a strategy that its principals have executed successfully for decades, particularly in the market downturns of the early 2000’s and during the financial crisis of 2008–2010.
Headquartered in Boston and with a dozen satellite offices throughout the US, Heritage is one of the nation’s prominent publicly traded retail REITs, valued at more than $3 billion.
Heritage sells its portfolio to Centro Properties (now Brixmor Property Group) for $3.4 Billion.
Integrated Properties is formed by former Heritage execs to third-party manage and operate commercial assets on behalf of private owners.
Integrated Properties manages a portfolio of properties in NY, MA, WI, MD, NH, RI, and VA.
Meritus Realty Ventures is formed to acquire retail and medical assets on its own account with Integrated Properties serving as its management provider.
Meritus acquires and operates retail and medical properties in MD, PA, NJ, and NY.
Meritus completes its comprehensive $65mm redevelopment of The Landing at Woodyard, a marquee 210,000 square-foot retail center in the Washington DC MSA.
Meritus Realty Ventures launches its Essential Asset Fund, focused on capital preservation and long term income growth, a strategy that its principals have executed successfully for decades, particularly in the market downturns of the early 2000’s and during the financial crisis of 2008–2010.
Joe Molle
Acquisitions, Leasing & Tenant Relations
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For nearly 20 years Joe has been acquiring and redeveloping suburban commercial real estate. He has been involved in over $3 billion of transactions including the ground-up development of numerous shopping center and medical buildings worth more than $450 million. Joe began his career in the family shopping center business, Heritage Property Investment Trust, a publicly traded REIT (NYSE: HTG) where he served in multiple capacities within the acquisition and development departments. Upon the sale of Heritage in 2006 Joe helped launch the New England regional office for Regency Centers, another public retail REIT (NYSE: REG) where he sourced, entitled, and completed multiple large-scale ground-up shopping center projects.
Robert Prendergast
Operations, Construction & Property Management
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Bob is founder and President of Integrated Properties, a Boston based national real estate owner, property management, and construction management firm specializing in retail shopping centers, and office buildings. Mr. Prendergast was formerly the President and Chief Operating Officer of Heritage Property Investment Trust, a publicly traded $3.5-billion-dollar shopping center REIT (NYSE: HTG), which he helped grow and ultimately sell in October of 2006. While at Heritage, he had various positions starting as Director of Construction, then Vice President of Property Management and Construction, where he was responsible for the integration of Heritage Properties and the purchase of the $500 million public REIT, Bradley Realty Inc. The integration proved vital to the success of the organization giving it the opportunity to enter the public markets in April of 2002.
Erik Hugus
Medical Acquisitions, Asset Management & Capital Sourcing
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Mr. Hugus is a principal at Meritus Real Estate. Mr. Hugus is primarily responsible for underwriting, financing, fundraising, and asset management. Mr. Hugus holds specific expertise in multifamily, medical office, and commercial ownership, finance, and renovation.
Mr. Hugus has acquired, renovated, developed, leased, operated and managed over 2,000 residential units (multifamily and manufactured housing) and over 1.5M square feet of retail, medical office and industrial property in the Northern and Southeastern corridors. He had been a lead partner at Trinity Property Group, a regional real estate development firm where he was responsible for acquisitions, underwriting, finance, planning and divestitures.
Joseph C. Molle
Risk Management & Investor Relations
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Joseph C. Molle: Retired as Vice President, Human Resources Johnson Matthey Inc. & Global HR Director, Johnson Matthey New Business Development Division with over thirty (30) years of Company service. As Global HR Director, Johnson Matthey New Business Development Division, Mr. Molle specialized in domestic and international strategic acquisition and divestments including: Due Diligence analysis; union / non-union staff employment, benefit, policy, and remuneration transition; and employee communications, integration and logistics.
Meritus is currently seeking to acquire suburban retail centers and medical buildings that fit the following criteria.
If you would like to submit an acquisition opportunity to Meritus that meets the required criteria, please submit all inquiries to jmolle@meritusrealestate.com.