PrimeCore’s founders offer 30 years of award-winning expertise in real estate and development.
PrimeCore’s experience includes multi-family, student housing, retail, restaurants, hospitality, office, family entertainment centers, industrial warehouse, storage, and affordable housing.
A Legacy of Excellence
Having over $1 billion of development, transactional and operating experience, PrimeCore’s management team provides discipline and expansive vision to successfully navigate investments from site selection to the most opportune exit.
PrimeCore’s management team’s transactions have included Fortune 100 and 500 companies such as General Electric®, PNC Bank®, Legg Mason®, Sunoco®, public and private colleges and universities, state and local housing agencies, and regional health systems.
Our Diversification Strategy
PrimeCore’s portfolio is strengthened as a whole by diversifying across two criteria: property type and geographic region.
⏤ DIVERSIFICATION BY PROPERTY TYPE
PrimeCore generally invests in properties located in high demand to entry markets that are low vacancy rates, with a stable tenant base, and the potential for predictable income. PrimeCore intends to manage risk through investing and actively directing a broadly diversified portfolio of properties.
⏤ DIVERSIFICATION BY PRODUCT TYPE AND GEOGRAPHIC MARKET
Diversification across dozens of tenants operating in various industries enhances the durability of PrimeCore’s revenues and may reduce risk. PrimeCore targets real estate assets that exist in vibrant economical markets, retaining and attracting a large and growing base of businesses, start-ups, and professional firms.
A Legacy of Trusted Experience
Having over $1 billion of development, transactional, and operating experience, PrimeCore’s management team provides expansive discipline and vision to successfully navigate investments from site selection to the most opportune exit.
Management Team
PrimeCore’s management team is led by Ara Kervandjian, Fred Sahakian, and Jon Jahanshahi, each having unique skill sets to fully support every detail of the investment process.
PrimeCore’s management team has decades of development experience and exhibits an acumen for identifying high-quality projects, within a wide spectrum of real estate assets, to offer comprehensive solutions.
Ara M. Kervandjian
Chairman, CEO, Co-Founder & General Partner
Ara M. Kervandjian
Ara has been involved with real estate and development for over 30 years He founded his first company in 1989, First Manhattan Improvement Co, Inc., which renovated large apartment/condominium complex conversions in Brooklyn and Manhattan. Since then, Ara has continued to develop residential and commercial projects throughout the Northeast and Mid-Atlantic.
In 1992, he founded a technology and competitive telecommunications company which was subsequently merged in 2001, and with now-publicly-traded as Windstream Holdings (NASDAQ: WIN).
Ara has been involved with private and public-debt and equity offerings for real estate and operating businesses in excess of $1.5 billion, including relationships with PNC Bank, N.A., GE Franchise Finance Corporation, National Retail Properties and Legg Mason, Inc. He is a member of the Pennsylvania Developers Counsel, an organization that focuses on improving the policies for affordable housing development through low income housing tax credits (“LIHTC”) in the Commonwealth. Ara is a recipient of Ernst & Young’s regional Entrepreneur of the Year Award.
Mehrdad "Jon" Jahanshahi
Sr. Vice President of Acquisitions & General Partner
Jon has been involved in real estate development for over 25-years. He is also the CEO and managing member of Commercial Land Development Concepts, and co-founder of SJ HOLDINGS LLC, a real estate development and investment company which is primarily focused on developing industrial warehousing and commercial properties. Jon is experienced in all aspects of development including, site selection, acquisition, entitlements, construction and leasing.
He has worked with national tenants as well as negotiated master leases with Fortune 500 companies such as Santander Bank, Aveanna Healthcare, United Rental, Schlumberger, Intertek, Flex Steel, Walmart, Kroger’s, Clean Harbor, and CUDD Energy Services. Jon believes it takes a successful team to create a successful project and is committed to bring his expertise and relationships to the PrimeCore team.
Frederick I. Sahakian
President, Co-Founder of PrimeCore & General Partner
Fred serves was also raised in a “real estate family”, growing up in State College Pennsylvania, where he attended The Pennsylvania State University earning a BS in finance. Having an entrepreneurial family background, he went on to establish several successful businesses while always involved in his family’s real estate investing and development company.
Over the last 30 years, his family’s companies have generated billions in revenues and employed tens of thousands of employees. Now privatized, he serves as President of his family office that continues to develop mixed-use and commercial projects including a strong focus in student housing. Fred is also co-founder of SJ HOLDINGS LLC and has been responsible for the retail and hospitality division that includes high velocity family entertainment centers. He serves as the chair of Sahakian Family Foundation, which funds local non-profits that support affordable housing and families in Centre County, Pennsylvania.
Explore Our Properties
Diversified, high-yield investments developed with intelligence-driven strategies.