Presidential Realty Corporation is a real estate investment trust (REIT) that was founded in 1909 as a contractor specializing in building theaters and movie houses in New York City. Over the years, the company expanded its operations to include the construction of institutional buildings, residential housing, and ownership of rental housing. With interests in over 10,000 apartment units and various other properties, Presidential Realty Corporation aims to develop a portfolio of high dividend yielding assets across the United States.
Under new management since 2011, the company is led by CEO Nickolas Jekogian and focuses on reducing operating costs and implementing a growth strategy through the acquisition and UPREIT (umbrella partnership real estate investment trust) of assets. The UPREIT structure allows property owners to convert their properties into publicly-traded securities, offering benefits such as tax deferral or avoidance, diversification, and liquidity. Presidential Realty Corporation is actively seeking partnerships with reputable operators to expand its portfolio nationwide.
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