History

Joseph J. Sitt founded Thor Equities, an urban real estate acquisition and development company, in 1986. From its inception, Mr. Sitt has led Thor Equities through all aspects of the investment process, including sourcing and screening investment opportunities, and due diligence, structuring, and negotiating transactions. Successful projects include the Company's first venture, the acquisition of a 12,000-square-foot parcel on East Tremont Avenue in the Bronx, which brought national retailers Rite Aid Pharmacy and Payless Shoes to the borough. Mr. Sitt still owns the property. Since then, Thor Equities has acquired and developed numerous real estate parcels in urban markets throughout the country.

To date, Thor Equities has acquired a retail, hotel, office, warehouse and residential portfolio totaling more than 12 million square feet, valued at more than $3 billion. Thor Equities has purchased properties in urban centers, including New York City, Chicago, Detroit, New Orleans, Atlanta, Philadelphia and Norfolk, Virginia, and is now in the process of acquiring properties in additional locations.