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Background

A corporation established in 1996 by John F. Horrigan, to liquidate a multi-state portfolio of industrial, office, retail, and other real estate for American Real Estate Investment and Development Co. (ARE) and its private capital partners, and to assemble capital for real estate acquisition, development, and management.

ARE was a wholly-owned subsidiary of Horrigan American, Inc., a Reading, Pennsylvania-based financial services company founded by Mr. Horrigan’s grandfather in 1927. The ARE business and portfolio was the third operating business of Horrigan American, along with consumer finance (Horrigan Finance) and commercial equipment leasing (American Equipment Leasing). Mr. Horrigan was ARE’s President from 1993 until 1996 when ARE was sold in a spin-off transaction to the shareholders of Horrigan American, Inc., having served as Chief Operating Officer from 1989 to 1993, and VP of finance from 1987 to 1989. The finance business, headed by J.F. Horrigan, Jr., Mr. Horrigan’s father, was sold to The Associates in 1993. The leasing business, headed by Arthur A. Haberberger, was sold in 1996 to ABN Amro’s EAB Bank in New York.


Investment Philosophy

HAI since 1996 has built a portfolio of properties on behalf of itself and over 50 private capital partners. It completed the sale of properties on behalf of ARE in 1999. Its investment philosophy is to own relatively low-risk properties at reasonable prices in niche markets where it believes above-average returns can be provided to its investment partners. Real estate properties are acquired through independent entities established on a per-transaction basis.


Asset and Property Management

Management is provided directly or through operating partnerships with other real estate operators.

Operating partnerships:

 
Value Industrial Partners an entity formed in 1996 with Brian Liston of Darwin Realty and Development Corp., Elmhurst, Illinois, to focus on Chicago area industrial properties. At December 31, 2001, this entity managed over 1 million square feet of industrial properties in suburban Chicago on behalf of itself and approximately 45 partners. Darwin is a substantial owner, developer, broker, and manager of industrial properties throughout the Chicago area.
BH LLC an entity formed in 1998 with Robert Basile of The Basile Companies, Douglassville, Pennsylvania to focus on various value-added property opportunities. At December 31, 2001, this entity managed approximately 80,000 square feet of industrial properties in Sarasota, Florida on behalf of itself and 14 partners. The Basile Companies and its affiliate Cardinal Real Estate are experienced operators with expertise in industrial, residential, and assisted living development and management.

Capital Partners

HAI serves a limited number of private investors and their real estate equity funds. Investment positions range from $25,000 to $1 million. Holding periods vary, but generally are 5 to 10 years or longer. With project equity requirements typically running from $500,000 to $3 million per project, capital partners are afforded substantial ownership positions. HAI together with its affiliated operating companies typically invests 10% or more of required capital.


John Horrigan

Since 1987, John Horrigan has successfully acquired, financed, developed, operated and/or divested many types of commercial real estate throughout the U.S. on behalf of corporate and private capital clients. Prior to 1987, John practiced law with the Chicago firm of Schiff Hardin & Waite. John holds a B.S. in Finance from Boston College and a J.D. from the University of Pennsylvania.


Horrigan Advisors, Inc. ® 2001-2010