The Berger Organization

FACTS 2018: The Berger Organization

50 Park Place, Newark, N.J. 07102

www.bergerorg.com

Media Contact: Evelyn Weiss Francisco / (201) 796-7788 / evelyn@caryl.com

Overview

The Berger Organization (Berger) is a privately owned diversified real estate company that owns and manages more than 1 million square feet of commercial and 12 hospitality properties in Northern New Jersey and New York City. Berger has been a key player in the City of Newark for nearly four decades and was among the first to anticipate its revitalization as a destination of choice for business, shopping, dining, entertainment, sports and culture.

History and Philosophy

Established in 1929 by two brothers, Benjamin and Nathan Berger, The Berger Organization has evolved from an owner/operator of apartment and rooming houses in the Bronx, Manhattan and Rockland County, N.Y., and Jersey City, N.J., to one of the region’s leading real estate development and management companies. The company’s significant presence in New Jersey can be credited to the direction of Miles Berger, chairman and chief operating officer, and his brother, Bruce Berger, president. Miles’ son, Brendan Berger, joined the company in 2008 to focus specifically on the firm’s Newark holdings. The family’s appreciation for Newark’s rich history and personal, unwavering commitment to restoring New Jersey’s largest city to its past brilliance serves as the foundation for the company’s concentrated real estate acquisitions there, involvement in numerous community organizations and the employment of more than 300 local residents. Additionally, Berger maintains a New York headquarters in Queens. Under the leadership of Solomon Berger and Benjamin Berger, Berger & Berger oversees 20 properties throughout the boroughs.

Newark Portfolio

Half of The Berger Organization’s portfolio is located on Park Place and Broad Street in Newark. Highlights include:

Commercial

• 765 Broad Street became the latest addition to Berger’s Newark portfolio in 2013, when the firm acquired the building’s title from 765 Henry Associates. The 200,000-square-foot, seven-story CBD office property expands Berger’s presence south along Newark’s commercial corridor. Distinguished by its white marble façade, it was developed by Prudential in 1957. The now multi-tenant property recently has been renovated with a beautifully appointed lobby, new elevators, updated common area and upgraded building systems. It offers 24/7 access and manned security. Berger is marketing several 30,000-square-foot full-floor opportunities there.

• In 2011, Berger purchased a controlling interest in 570 Broad Street LLC, a partnership, and today is managing and operating the CBD office building of the same name. The 200,000-square-foot, 15-story landmark tower also includes ground-floor retail. 570 Broad Street LLC recently has updated the office spaces with the latest technology, installed new state-of-the-art high-speed elevators, HVAC and security systems, and high-speed fiber-optics. Ongoing plans call for a parking element with one space per 1,000 square feet, and a conference room and fitness center for tenants. 570 Broad reached a milestone 85 percent occupancy in early 2014; the building was just 20 percent occupied when Berger’s involvement began.

• The 250,000-square-foot, 21-story Military Park Building, located at 60 Park Place and overlooking Military Park, is a flagship of the Berger office portfolio. A comprehensive refurbishment in 2001 included mechanical upgrades, new windows and exterior restoration of the 88-year-old property. More recently, another major capital improvement effort updated the lobby, core building and elevators, and introduced street-level retail as well as a fitness center and conference room for tenants. The property currently fully occupied following more than 70,000 square feet of leasing since Berger purchased the property in 2007.

• Robert Treat Center, a 100,000-square-foot office tower located adjacent to The Robert Treat Hotel at 50 Park Place, was The Berger Organization’s first Newark office property, acquired in 1986. Located across from NJPAC, the building is 90 percent occupied. Tenants benefit from the amenities associated with the Robert Treat Hotel, which include the Maize restaurant, a fitness center, exterior roof garden and underground parking. The property currently is 85 percent occupied.

Hospitality

• Best Western Robert Treat Hotel, located at 50 Park Place in Newark, is The Berger Organization’s flagship hotel asset, purchased in 1986. The 176-room, 15-floor hotel features beautifully appointed guest accommodations, two luxurious ballrooms, and meeting and conference rooms. The Star Light Roof, located on the 16^th floor and reminiscent of South Beach, overlooks the Newark waterfront and offers views of Manhattan. Maize is a ground-floor, casual-dining establishment. The property has undergone an extensive $10 million renovation and is well-situated to accommodate Newark Liberty Airport arrivals with destinations to New York City.

• The Berger Organization is gearing up to launch a rehabilitation of the historic St. Francis Hotel building at 24 East Park St. in Newark. Operated for 50 years as the Carlton Hotel, the property will re-open in 2015 as a 100-room TRYP by Wyndham. This family-oriented model already is popular in Europe. TRYP Wyndham Fact Sheet 2017

• Jersey City Ramada Inn sits at the center of Jersey City, N.J., at 65 Tonnelle Ave., surrounded by vast retail, dining, cultural and entertainment offerings. The hotel features luxurious accommodations at affordable rates within minutes of New York City, just one block from the PATH station and Journal Square’s bus transportation. It features 99 guest rooms with complimentary high-speed Internet access, a business center and a state-of-the-art fitness center.

• Westminster Hotel, located at 550 W. Mount Pleasant Ave. in Livingston, N.J., is a four-diamond luxury hotel featuring 183 elegant guest rooms, 16,000 square feet of banquet and conference space, and a 120-seat restaurant. Its refined mix of first-class amenities include a fitness center, indoor heated pool and Jacuzzi, and spa services. Berger is a joint venture partner with Kushner Companies in the ownership.

Development Sites

• The Griffith Building, located on Broad Street, just one-half block from Prudential’s new headquarters development site, is slated to be redesigned as a hotel property. Built in 1927 as the home of the Griffith Piano Company, the building contained a showroom, workshop, offices and recital hall.

For additional Berger Organization property overviews, visit www.bergerorg.com.

Leadership

Miles Berger, Chairman and Chief Operating Officer, is responsible for spearheading The Berger Organization’s overall residential, hospitality and commercial operations. Over the years, Miles has acquired more than a dozen hotel and commercial properties throughout Northern New Jersey, including emerging cities like Jersey City and East Orange. Credited as a visionary and catalyst for Newark’s renaissance, he purchased the company’s first property, the Newark Holiday Inn, on March 3, 1976, from New England Mutual Insurance Co. That dated building has been demolished, and the three-acre property will be marketed as a major development site for a mixed-use transportation hub complex.

Bruce Berger, President, oversees all of The Berger Organization’s investment and development activities, including asset management and strategic planning. A veteran of the hospitality industry with more than 30 years of experience, he also is involved with leasing at the company’s commercial office properties. He has been instrumental in propelling Berger to the forefront of Newark’s revitalization and elevating the level of on-site owner-managed services offered at each of its properties.

Brendan Berger, Vice President, manages The Berger Organization’s Newark portfolio. His strategic oversight responsibilities include supervising all property leasing and management services, including lease administration, review and negotiations; facility and construction management; upgrades and retrofits; market analysis; design and transaction support. He also possesses extensive experience and proficiency in the latest property management applications and the use of a variety of software platforms.

Solomon Berger, Chairman and Chief Executive Officer of Berger & Berger, directs oversight of the company’s portfolio of approximately 600 units of hospitality, retail and residential space located throughout Queens and Bronx, N.Y. An industry veteran since 1953, Solomon has been instrumental in strategic planning and property acquisitions throughout this outer-borough submarket. He also possesses extensive experience in rendering property management and tenant services.

Benjamin Berger, President of Berger & Berger, is responsible for supervising the daily management operations at the company’s 10 properties located throughout Queens and Bronx, N.Y. In this role, he supervises each of the on-site management teams and spearheads marketing efforts at the buildings. He joined the company in 1992.