current | archive
Prism's Eugene Diaz Named Among the 2015 NJBIZ Real Estate Power 50
Honor Recognizes the Most Influential People in N.J. Commercial Real Estate
November 23, 2015
Original Article

Eugene Diaz, founder and principal of Prism Capital Partners, LLC in Bloomfield, has been named among the NJBIZ 2015 Real Estate Power 50. The publication's annual ranking recognizes the most influential people in the New Jersey commercial real estate industry.

Diaz and Prism's Edwin Cohen, principal partner, have guided the 13-year-old firm's distinctive, multi-dimensional approach to establish an impressive real estate investment and development track record. Focused solely on the New Jersey regional market, Prism is both an active investor – buying income producing assets and undervalued properties – and a multi-faceted developer, implementing development and redevelopment opportunities utilizing its full in-house capabilities.

"Prism strives to introduce projects that will benefit New Jersey for the long term by meeting the needs of our changing population, a goal shared by many on the Power 50 list," Diaz said. "I am proud to be recognized among a dedicated group that is working to create better-balanced business centers with a multitude of housing options and modern, amenitized office environments. This will make our region all the more competitive in attracting and retaining jobs and residents."

To that end, Prism's 2015 projects include the repurposing of 339 Jefferson Road in Parsippany as a multi-tenant office building. The project, geared toward creating a modern, amenity-rich environment, also includes a complete overhaul of the former corporate headquarters building's soaring, three-story atrium lobby, updated building services and upgraded finishes throughout the 102,000-square-foot asset.

In Woodbridge, Prism earlier this year signed a definitive agreement to purchase a five-acre parcel at the corner of Rahway Avenue and Green Street. The firm intends to develop the site, located directly across from NJ Transit's Woodbridge Station, as a 260-unit multi-family rental community. Prism currently is finalizing plans for township approval.

Prism also is deeply involved in the adaptive reuse sector, highlighted by the success of the $90 million industrial-to-residential Parkway Lofts redevelopment in Bloomfield.The company is gearing up to start construction of that project's second phase, the development of 160 distinctive "for-sale" townhomes. And, after nearly eight years in the making in West Orange, Prism has commenced construction of the industrial-to-residential transformation of the historic Thomas Edison Invention Factory and Commerce Center, turning that property into 333 luxury "loft" rental units with an unmatched amenity plan including an indoor pool and rooftop garden.

Prism invests with institutional and private capital sources that rely on the firm's ability to identify and realize the highest value potential in all sized real estate endeavors. To date, the company, with its capital partners, has invested more than $400 million in 15 projects. In 2013, NAIOP New Jersey recognized Prism's contributions by honoring the firm with its prestigious Impact Award.