About EagleRidge

EagleRidge Realty Trust, Inc. is a Maryland corporation formed on January 29, 2015 for the purpose of investing in a diversified portfolio of real estate properties and other real estate related assets.

A Message From Our CEO

Welcome to EagleRidge Realty Trust and thank you for giving us the opportunity to explain what EagleRidge is all about and who we are. Our real estate partnership was formed nearly a decade ago from the desire to bring the best real estate developments possible to the region. With the underlying goals of offering superior design and unique amenities, developments like Shadow Wood, Maple Ridge, Eagle Point in Fargo, and Stonebridge Farms in Minot were created. These successful developments set us on a path of continual growth and improvement.

With that mindset, EagleRidge Partners was born. We felt multifamily housing could be built more efficiently and with higher quality than what was offered in the community. Our strategy was to take the construction profit normally made on a project and pour it back into the buildings. This allowed us to offer amenities not found in the market. We also set new standards in construction by offering larger units with better layouts and higher quality finishes. Our buildings feature unmatched energy efficiencies, sound proofing that exceeds any standard, and exteriors that set our product apart from other properties.

Our goal at EagleRidge is to continue to build the highest quality product in the best locations. Achieving this goal will allow us to organically grow EagleRidge Realty Trust with properties that set us apart. In addition, we will seek out properties that match our quality and design standards to grow into markets and locations that are not available to build. This combination will bring EagleRidge Realty Trust to new levels of growth and prosperity.

At EagleRidge, we all think like owners because we are. Everyone in the organization is an owner and has their own money invested in what we do. We will continue to invest our own money into what we believe is a wise long term investment strategy. If you choose to join us, we will treat your investment as we do our own.


Jeff Laliberte

CEO, EagleRidge Realty Trust


Our mission is to invest in a diversified portfolio of real estate properties and other real estate related assets. Our portfolio consists primarily of various types of commercial real estate properties, including multi-family residential, office, industrial, retail and other commercial properties that are presently located in North Dakota, Minnesota, and Arizona.


EagleRidge Realty Trust is a Real Estate Investment Trust (REIT) for federal income tax purposes. In general, a REIT is a company that combines the capital of many investors to acquire real estate and/or real estate related assets and meets certain other qualifications. The benefits of a REIT may include the following:

  • Diversified real estate portfolio under professional management;
  • Not subject to federal corporate income taxes on its income that it distributes to its stockholders, which substantially eliminates “double taxation” (i.e., taxation at both the corporate and stockholder levels); and
  • Is required to distribute to its stockholders at least 90% of its annual taxable income.

We operate as an Umbrella Partnership Real Estate Investment Trust, which is a REIT that holds all or substantially all of its assets through a partnership which the REIT controls as general partner. Therefore, we hold all or substantially all of our assets through our operating partnership, EagleRidge Properties, LLLP, which we control as the general partner. The operating partnership was formed as a North Dakota limited liability limited partnership on February 4, 2015. This operating partnership owns our assets, directly or indirectly, generally through special purpose entities.

We have decided to use an Umbrella Partnership Real Estate Investment Trust structure to facilitate acquisitions of real estate properties. A sale of property directly to a REIT is generally a taxable transaction to the property seller. However, in an Umbrella Partnership Real Estate Investment Trust structure, if a property seller exchanges the property with our operating partnership in exchange for LLLP units, the seller may defer taxation of gain in such exchange until the seller resells its LLLP units or exchanges its LLLP units for the Company’s common stock. Before a seller may resell its LLLP units or exchange its LLLP units for the Company’s common stock, such seller must hold such LLLP units for a period of at least one year. The Company currently anticipates that exchanges of Company common stock for LLLP units in the operating partnership will occur on a one-to-one basis. By offering the ability to defer taxation, we may gain a competitive advantage in acquiring desired properties over other buyers who cannot offer this benefit. Exchanges of LLLP units for common stock of the Company will be a taxable event.

In addition, investing in our operating partnership, rather than directly in the Company, may be more attractive to certain institutional or other investors due to their business or tax structure. If an investor is interested in making a substantial investment in our operating partnership, we may agree to terms for such investments that are different from the terms of this offering, such as lower fees payable by such investors in consideration of the size of its investment. Our structure provides us the flexibility to accommodate such different terms, while applicable tax laws generally restrict a REIT from charging different fee rates among its stockholders.

Investment Objectives

Our primary investment objectives are:

  • To preserve and protect stockholders’ capital;
  • To produce attractive risk-adjusted returns and pay consistent distributions to stockholders; and
  • To deliver long-term capital appreciation.

Investment Strategy

The Company’s investment strategy is to acquire and maintain a diversified portfolio of income producing real estate assets. Our acquisitions will focus on stability and consistency of income, disciplined and controlled growth, and transparency to its investors.

More specifically, our investment strategy is to establish a diversified portfolio of:

  1. Commercial real estate properties in various sectors, including multi-family residential, office, industrial, retail and other commercial property types;
  2. Ownership interests in real estate properties in various sectors, including multi-family residential, office, industrial, retail and other commercial properties;
  3. On a limited basis, other real estate related assets, including debt and equity interests backed by real estate; and
  4. Cash, cash equivalents and short-term investments.

The Company will maintain a long-term, buy-and-hold mentality but may also attempt to capitalize on short-term market considerations to maximize our investments.

Jeffrey Laliberte

Director and Chief Executive Officer/Secretary of the Company

Mr. Laliberte has been the President and Chief Operating Officer of Hebron Brick Company since 1998. Hebron Brick Company is a manufacturer of clay brick and concrete block, which are distributed nationwide. Hebron Brick Company has 13 locations and employs over 200 individuals. Jeff is also the President of Eagle Ridge Partners, LLC, which is a general contractor company that specializes in building apartments and townhomes for rental. Eagle Ridge Partners, LLC expects to generate over 30 million in 2018 from construction projects.

James R. Bullis

Director and Chief Operating Officer/President of the Company

Mr. Bullis is also a Founding Principal of Eagle Ridge Development and has over 20 years of commercial real estate experience. Prior to forming Eagle Ridge Development, James R. Bullis developed real estate through a number of real estate limited partnerships. Prior to forming Eagle Ridge Development, Jim has been actively engaged in the planning and development of residential and mixed use communities in the Fargo-Moorhead and surrounding areas for more than 20 years. These developments include rural estate developments such as Gray Hawk and master planned communities such as Eagle Run, Shadow Wood, Maple Ridge and Eagle Pointe. Jim is an attorney licensed to practice in North Dakota and Minnesota. His legal practice concentrates in the areas of commercial law and real estate development. Jim has extensive experience representing developers in the Fargo-Moorhead and surrounding areas as well as Western North Dakota, Arizona, and Wyoming. Jim lives in Fargo with his wife and three children.

Rodney F. Paseka


Mr. Paseka has been employed with a variety of employers within the brick industry since 1972. In 1986, Rodney, along with two partners, purchased Hebron Brick Company. Rodney went on to become the sole owner of Hebron Brick Company in 1999. Since then, Rodney has become a partner in the Shadow Wood housing development. Since 2009, Rodney has partnered with Jeffrey Laliberte and Jim Bullis to build hundreds of apartment rental units in the Fargo/Moorhead and surrounding area.

Drew A. Likness


Mr. Likness is the Director of Sales for Eagleridge Development and the Managing Partner of Advantage Realtors, Inc. He has been with EagleRidge Development since in origin and has been involved with several developments over the last 10 years. Drew is responsible for both residential and commercial sales and leasing. Drew holds a B.S. degree in Finance from Minnesota State University Moorhead. Prior to his real estate career, Drew was a financial advisor for two national investment brokerage firms. Drew is actively involved with the Masons and serves on various national committees for Shriners Hospitals for Children, such as Emeritus Member of the Finance and Audit Committee, Member of Investment Committee, and Chairman of the Real Estate Committee. Drew lives in Fargo with his wife and 2 children.

Jon Hanson

Jon Hanson


Jon Hanson serves as a Director of the Company. Since 2004 Jon Hanson has been the President of Precision Plumbing Inc., and Precision Plumbing, Electric, Heating and Cooling Inc., located in West Fargo, ND. Jon lives in Fargo with his wife and daughter, Olivia.

Eric Merhiy

Eric Merhiy


Eric Merhiy serves as a Director of the Company. Mr. Merhiy is the owner and President of KPH, Inc. KPH, Inc. is a third generation family owned business located in Fargo, ND, which provides heavy municipal services to commercial and municipal industries. KPH is one of the region’s largest underground contractors and takes on a variety of projects. Eric lives in West Fargo with his wife and three children.