St. George Business District Commercial
Office Complex Development Project

Vertus Asset Management (“VAM”) is seeking $8.0 M of equity for a ten percent stake in Bay O.Z. Fund II. The money will be used for the acquisition of property and land that will be used for the development of approx. 90K sqft of new commercial office space and parking (the “Project”) in a federally designated opportunity zone within the St George Business District in the North Shore of Staten Island.

The Project will be potentially one of only three sites that VAM is aware of that could be a qualified location that would meet the needs of a recently released RFP requiring 150K sqft of commercial office space to house various New York City agency workers in the North Shore. This mandate, if awarded to VAM, will guarantee a long-term, single tenant, triple net lease for this new commercial office space that will be guaranteed by the City of New York. There is a high probability that this mandate could be awarded to VAM.