About APF Properties

A Success Story

From a humble beginning in 1995, founded with just $750,000 in capital, APF Properties has assembled a portfolio of boutique office buildings in "A" locations in Manhattan and has invested in Class "A" office buildings in Philadelphia, New Jersey and Houston, building a strong track record.

The firm completed its first retail development in 2014 in Philadelphia and has since built an impressive portfolio of retail assets that has added generously to the returns throughout the years.

Looking forward, APF Properties is redeveloping a pre-war Hudson Square property into a Class A boutique office building at 60 Charlton.

Through its efforts in office, retail and development, the firm now owns an office portfolio valued above $1,400,000,000.

Uniquely positioned

APF Properties is a highly specialized real estate investment firm that has developed unique expertise in delivering value to mid-sized and small tenants. APF focuses on working with the brokerage community to service this underserved market segment and has established an enviable track record delivering superior returns to its investors.

Founders and organization

The managing partners together bring over 40 years of experience in the New York real estate business. Additionally they have compiled a strong corporate team to help the APF business deliver.

  • Managing Partners
  • Organization

KENNETH ASCHENDORF

Experience before APF Properties
Artic Electric, NYC Electrical Construction firm serving major office landlords

Expertise
Finance, Development, Asset Management

Education
BS Business & Public Administration, NYU
BS Electrical Engineering, NYIT

BERNDT PERL

Experience before APF Properties
Greenwich Associates strategy consulting firm for financial services – Partner

Expertise
Finance, Accounting, Strategy

Education
BS Accounting, Duke University
MBA, Harvard University

APF Properties Organization Chart

Milestones

1995

Founded with $750,000 in start up capital, owners buy first office building.

1999

Firm syndicates its first transaction with outside investors, 1156 Avenue of the Americas.

2000

APF Properties concludes its first off-market deal with 25 West 45th Street.

2006

Most active year in NYC (3 acquisitions, 2 tax free exchanges, 3 CMBS financings)

2008

APF Properties buys 1601 Market Street – a trophy building in Philadelphia.

2009

Completion of two major refinancing transactions during credit crisis for $110,000,000.

2010

APF Properties enhances its environmental credentials with Solar Strategy.

2011

APF Properties acquires the Club Row Building via a joint venture with PREI.

2013

Expansion into Houston market and acquisition of 2200 West Loop South.

2014

Retail development expanding 1601 Market Street from 650,000 to 700,000 SF.

2015

Recapitalization of the Club Row Building at a $235 million valuation.

2016

Firm refinances several properties to increase acquisition capital.

2017

APF Properties acquires site to develop 60 Charlton Class A Building in Hudson Square.

2018

Acquisition of 183 Madison Avenue, premier Art Deco building in USA.

2019

APF Properties portfolio valuation tops $1.4 billion.

2020

60 Charlton Street comes to market.

Philosophy

APF Properties employs a disciplined five-step acquisition model. The firm's principals always co-invest at least 10% of capital to assure goal congruence with their investor base. APF Properties believes in long-term, active management with conservative debt leverage.