Firm Overview:
Thor Equities is a leader in urban real estate development, leasing and management, pursuing premier retail and mixed-use assets in high-density areas. Thor Equities provides the best possible “High Street” retail and mixed-use building environments throughout the urban landscape across the United States, Latin America and Europe – all while delivering attractive, risk-adjusted returns to investors. The Thor Equities team delivers optimum results – assessing the most efficient way to operate a property to generate returns for investors by recognizing potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a property’s long-term competitive edge. The goal is to provide an unmatched “lifestyle” experience for the end user, whether it be living, working or shopping. Simply put, Thor Equities matches the people, the capital and the expertise to achieve unparalleled results.
Investment Strategy:
The central tenet of Thor Equities’ investment strategy is identifying underperforming yet fundamentally sound properties in vibrant urban marketplaces and executing a site specific action plan designed to maximize the property’s value at every level. Well-networked across a diverse group of industry stakeholders and geographically nimble, Thor Equities delivers quick closings and smart redevelopments keeping a steady eye on significantly enhancing investment returns and tenant satisfaction. Thor manages both institutional and non-institutional capital both of which are immediately deployable for investment.
Thor’s investment strategy is well suited to deliver strong returns across a variety of assets provided the fundamentals of the underlying asset meet its initial benchmarks for quality and pricing. Well-located properties available at discounts to their replacement cost are particularly attractive candidates for redevelopment. In stabilized assets, returns are further enhanced due to the income appreciation generated by the destiny in urban markets. Although Thor primarily seeks out prime urban properties and suburban properties in affluent areas, high growth locales with demonstrated pent up demand are considered as well.
One of Thor Equities’ greatest strengths is its ability to move quickly by recognizing value and closing the deal—a result of its comprehensive real estate expertise and ready access to capital. Thor Equities interdisciplinary approach merges teams of asset management, leasing, development and transactional professionals that work together to create real estate opportunities and solutions.
Executive Bios:
Joseph J. Sitt
CEO, Thor Equities
Joseph J. Sitt is the President and CEO of Thor Equities, a forward-thinking international real estate development company that specializes in value-added investments in mixed-use urban developments, hotels, shopping centers, and residential developments in the United States, Europe, and Latin America with a portfolio totaling more than 18 million square feet. He is also the Chairman of Town Residential, a full service, and industry leading, luxury residential brokerage firm in Manhattan. He serves as Chairman and Managing Principal of the Thor Urban Property Funds–an investment vehicle serving pension funds, investment banks, top-tier college endowments and foundations. Mr. Sitt is the Chairman of Mexico City based Thor Urbana Capital which develops and acquires retail, office, and mixed-use properties located in Mexico City, Playa del Carmen, and other large Mexican cities. In addition, he serves as CEO of Thor Retail Advisors which provides tenant representation and advisory services to high end retailers seeking premier retail locations around the world.
Formerly, Mr. Sitt founded the women’s clothing retailer Ashley Stewart whose success prompted many national retailers to take notice of opportunities in the urban marketplace. Mr. Sitt is an active board member of The Bedford Stuyvesant Restoration Corporation, one of the most renowned community development organizations in the country. Harvard professor Michael Porter and the Initiative for a Competitive Inner City (ICIC) honored him for his commitment to fostering healthy competitive business conditions and new opportunities in inner city neighborhoods. He is also the recipient of the 2014 Ernst and Young Entrepreneur of the Year award. He serves on the board of the Real Estate Roundtable in Washington D.C., the Department of Real Estate at Baruch College, and is a member of the Partnership for New York City. He also is a board member of Venetian Heritage, one of the leading restoration organizations in Venice, Italy, where he is chairing the effort to restore the Jewish museum and ancient synagogues of the Ghetto of Venice. He is the Founder and Chairman of Global Gateway Alliance (GGA), a not-for-profit organization established to address the major challenges facing the New York City metropolitan region’s aging airport system. The board of GGA is composed of top leaders from business, labor, civic and aviation organizations. He is a graduate of New York University.
Ike Sutton
Ike Sutton is brother in law to Joe Sitt, Thor Equities CEO. Ike is responsible for overseeing the teams that manage all our high net worth and family office investors at Thor. Ike will be giving an exciting presentation on Thor, a Global Industry leader in Real Estate.
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