Presidential Realty Corporation

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Presidential Realty Corporation (AMEX: PDL.A) is a real estate investment trust. They invest in joint ventures that own shopping malls, and make loans secured by real estate. Their headquarters are in White Plains, New York. It began in 1911.

Presidential Realty Corporation Shopping Malls

Presidential manages properties that it owns, plus the property owned by PDL, Inc. and Associates Limited Co-Partnership (the Hato Rey Partnership), in which they are the general partner and have a 60% partnership interest.

Presidential does not manage the shopping mall properties owned by the joint ventures. Those are managed by an affiliate of the Company´s partner in the joint ventures. In 2007, they acquired an additional 25% and 1% limited partnership interest in PDL, Inc. and Associates Limited Co-Partnership (the Hato Rey Partnership).

They own four categories of assets: joint ventures (14%), equity interests (46%), notes receivable (22%) and other investments (3%). These other investments are with Broadway Real Estate Partners LLC, a private real estate investment and management firm which invests in office properties.

Presidential owns interests in 154 apartment units and 619,540 thousand square feet of commercial, industrial and professional real estate property.

Presidential Realty Corporation is a REIT that invests in real estate in a diversified, but not apparently systematic way. They don't have a web site, so more information isn't easily available.

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