ABOUT HORNROCK PROPERTIES
Hornrock Properties LLC is a family-owned and operated developer of luxury multi-family apartment complexes, primarily in New Jersey, USA. A leader in the regional multifamily industry, Hornrock has completed numerous successful projects and currently has over 1,600 units with a capitalized development value of over $500,000,000 in various stages of development. We have expertise in the following core areas:
ENTITLEMENTS
We have a strong track-record repurposing multiple projects in what is considered one of the most difficult states in the U.S. to entitle properties (New Jersey). Many of our projects are unique one-off developments in areas that will see little to no future supply for the foreseeable future.
ACQUISITION
The Company specializes in purchasing a wide variety of properties, each ultimately suitable for multi-family or mixed-use entitlement and development.
FINANCIAL ANALYSIS & STRUCTURING
We underwrite each project taking into account all relevant micro and macro variables. We are also highly adept at structuring and executing complex transactions that enhance a project’s risk/return profile.
DEVELOPMENT
Hornrock uses a diligent and all-encompassing approach to create a development plan for each project. We have particular expertise in wood-frame construction with unique design and lifestyle amenities that appeal to today’s renter.
CONSTRUCTION
Through our GC affiliate, HRP Construction LLC, we self-perform on many of our projects. With a highly experienced team that brings skills ranging from pre-construction to project management, HRP provides superior execution on complex projects.
TRANSPARENCY & DISCLOSURE
All our activities are guided by a principle of complete transparency and disclosure. We go the extra mile in providing all stakeholders with continuous and thorough updates on our projects.
PRINCIPAL PROFILES
The Company’s Principals have a long track record of producing outsized returns while simultaneously maintaining a commitment to excellence in the sourcing, due diligence, financing, development and construction of all its projects. The Principals are assisted by a talented and diverse team of in-house specialists who have expertise in all aspects of the development process.
David Hornblass
David oversees all of the Hornrock’s operations including; construction, marketing and asset management of active projects. Prior to co-founding Hornrock, David was a Vice President of Stonepost Properties Inc., where he was responsible for sourcing and underwriting acquisitions, the most notable being the firm’s $58mm acquisition of the 419-unit multifamily project “Metro Midtown.” In addition to his position at Stonepost, David was also a managing member of numerous New York City real estate ventures. He graduated with a B.A. from Adelphi University in 1997.
Maurice Hornblass
Maurice is responsible for overseeing all of the Company’s acquisition, entitlement approval processes and development activities. Prior to co-founding Hornrock, Maurice formed Avichai Properties, which focused on distressed real estate assets. Concurrent with his time at Avichai, Maurice partnered with Treetop Development, where he structured and raised capital for a number of substantial real estate projects. Maurice began his career in the analyst program at Salomon Smith Barney, received his B.A. from Hofstra University in 1998 and was a candidate in the NYU Masters in Real Estate Program.
Elliott Hornblass
Elliott is responsible for all of the Company’s financing activities. Prior to joining Hornrock, Elliott was a Partner of Millennium Capital Partners LLP (in London) where he headed all European operations. His primary responsibility was oversight of all Millennium’s European trading and risk management activity. Concurrent with acting as Head of Trading and Risk, Elliott was also a Millennium Portfolio Manager himself, managing a team of seven that invested over $3bln across a number of credit-related strategies. Prior to joining Millennium in 2005, he worked at Cross Asset Management for four years where he founded and managed the Cross Credit Fund, a $225mm Long-Short credit fund. He spent the previous seven years before joining Cross working at Salomon Brothers in New York and London. Elliott received a B.A. from the University of Pennsylvania in 1994.
GALLERY
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