Real Estate Development and Management

The principals of Northern Capital Group have collectively over 75 years of experience in commercial real estate development, ownership, and management.

  • We specialize in the design, approval, and construction of retail, office, and multi-family properties.  We have managed the development and acquisition of over 10,000,000 square feet of commercial  real estate.
  • Through our affiliates, Northern Holdings, LLC and RYCO Management, LLC, we currently own and manage over 700,000 square feet of office space in the Rochester, NY market.
  • In 2000, the principals of Northern Capital Group formed a private real estate investment trust, Wilmorite Properties, Inc. (“WPI”) and Wilmorite Holdings, L.P. (“WHLP”), an affiliated partnership, which owned over 16 million square feet of commercial real estate. WHLP was one of the 20th largest owners of regional malls in the United States, and in 2005 had annual revenues over $200 million. WPI and WHLP were acquired by the Macerich Company, a publicly held REIT, for $2.3 billion in 2005.

Investment Funds  

We currently manage two private investment funds.

  • Northern Portfolio, LLC is an open-ended fund that invests in the securities of publicly traded real estate investment trusts.
  • Northern Properties, LLC owns commercial office buildings in upstate New York.

More about funds

Consulting and Education

Northern Capital Group provides consulting services for third party clients. Among our assignments:

  • The design and approval for the redevelopment and rezoning of Tysons Corners Center, in McLean, Virginia.  The company managed an approval process for a project that has been featured in numerous publications, including the ULI’s Urban Land magazine, that will transform an 80-acre mall property over a period of years to include a transit-oriented, mixed use development of 3.5 million square feet. The property will include high-rise multi-family residential, high-rise office, retail and hotel uses, to complement an existing 2.2 million square foot super regional shopping center. This assignment for the Macerich Company received an ICSC International Design and Development Award in 2007 and is considered a national benchmark for urban planning and transit-oriented development.
  • A continuing assignment from PAETEC, a national communications company headquartered in Perinton, NY.  PAETEC is considering a new corporate headquarters to be located in a redesigned urban redevelopment in the heart of Rochester, NY.

Northern Capital Group principals give their time to the community:

  • We individually serve on a number of not-for-profit boards, including schools, libraries, and other philanthropic organizations.
  • Mark Foerster and John Anderson are graduate level adjunct professors at Cornell University and the University of Rochester, respectively, teaching courses that focus on real estate development and finance.

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