Calamar, a full-service real estate organization with divisions in construction, development, property management and investment & financing, revealed that it entered into a joint venture with Sinatra and Company Real Estate, a real estate investment and services firm headquartered in Buffalo, NY and S & N Properties Group, LLC, a partnership of Sinatra and Company and Nanco Group, a Buffalo-based development company. The joint venture agreement includes the commercial properties within The Woodlands Corporate Center East and The Woodlands Corporate Center West (The Woodlands), but the land still available for development will be retained by Calamar. The Woodlands is a 160-acre class A business park developed by Calamar in 2000 that is home to many national and international organizations.
Nick Sinatra, president and chief executive officer of Sinatra and Company said, "We see a great deal of mutual benefit to this relationship which capitalizes on different strengths from two complimentary organizations. Importantly, both firms are tremendously committed to the smart and sustainable growth of Wheatfield, and the W.N.Y. region as a whole."
Kenneth Franasiak, chairman and chief executive officer of Calamar, said, "This venture will allow Calamar to focus our resources on our growth strategy across North America, while providing us with a great partner that has assembled one of the largest portfolios in Western New York. We are very pleased to team up with Sinatra and Company who has the same inherent commitment and dedication to this region as Calamar. We will maintain our corporate headquarters in The Woodlands Corporate Center and are currently adding staff in Western New York, along with other offices we have throughout North America. This local partnership will strategically enable us to grow our assets and expand our capital investments. We look forward to working in lock step with the Sinatra team to continue to add value to this world class portfolio of properties, tenants and our commitment to Western New York."
Paul Nanula, president of Nanco Enterprises, a Nanco subsidiary, and former CEO. of Wilson Farms said, "We are excited about our partnership with Nick and Ken on the Woodlands Corporate Center. We hope to add value to the great work Ken has done developing the Center."
Founded in 1990, Calamar is a vertically integrated full-service real estate organization comprised of development, construction, property management, and investment and finance divisions. This organizational strategy is an integral component of the company's success, uniting the synergies of each department to add value and creative solutions to our clients, tenants and partners. Tags: