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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.
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. |
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