The Herrick Company’s roots are in building and development, particularly of single- and multi-family housing sub-divisions. Mr. Herrick developed and built numerous sub-divisions throughout the states of New Jersey and Florida, including: The Carriage House, a 300-unit, 22-story apartment building in Fort Lee, NJ; Garden apartments in Parsippany, Dover and Rockaway, NJ and Boca Raton, FL; Tall Oaks Development (custom homes in Wayne, NJ); Rambling Woods (custom homes in Montville, NJ); Fox Hollow Manner (two sub-divisions in Florham Park, NJ); and additional developments throughout New Jersey including in Ogdensburg, Franklin, Lake Hopatcong, Montville, Morris Plains, Morristown, Morris Township, Middlesex, Fairfield, Pinebrook, Dover, Rockaway, and Rockaway Township.
Property Location:
Nationwide, in markets with a population greater than 1 million and/or market trends that will cause rents to increase.
Property Type:
Existing and to-be-built residential complexes with a minimum of 100 units.
Transaction Type:
All Cash to highly leveraged transactions. There is no maximum limit to the amount of capital, along with debt, that The Herrick Company can place in a residential apartment transaction. We will close 15 – 30 days after certificate of occupancy are issued on new construction transactions.
The Herrick Company has also been very successful in residential home, condominium and apartment investment. It’s success stems from its criteria for purchasing only in cities where the demographics demonstrate that market rents can substantially increase in the near term. Our success has endured because we are very selective in terms of property location, which must be in high growth cities with populations greater than 1 million, and property size, which must include complexes with at least 100 units.
