02/21/08 - Dellasorte claims Cabrera and Beninati owe him for construction work, management fees and his share of profits on their joint projects

NAMES: Joseph P. Beninati and James P. Cabrera
COMPANY: Antares Real Estate
TITLES: Co-founders & Managing Members
YEARS IN BUSINESS: 8
TOTAL PORTFOLIO SIZE: $500 million
KEY PROPERTIES: Pickwick Plaza in Greenwich; Delamar Hotel in Greenwich; new 9-acre estate in Greenwich off Round Hill Road, surrounding Lake Carrington; Seaview House in Stamford; CiderMill gated community in Westchester.
CLAIM TO FAME (Beninati): I met my wife, Rhonda – the most wonderful woman in the world – at Choate Rosemary Hall 22 years ago.
CLAIM TO FAME (Cabrera): My family.
BIGGEST DEAL: Growing a $200 million residential development division to complement elite commercial assets such as Pickwick & Delamar.
LIVE IN: Beninati, Armonk, NY; Cabrera, Old Greenwich, CT.
WORK IN: Greenwich, CT, at Pickwick Plaza. Other offices are located on our properties.
HOW THEY GOT INTO REAL ESTATE: Beninati began doing real estate deals with Cabrera during
the ‘90s.
BEST THING ABOUT THE JOB: The family team atmosphere.
WHAT DISTINGUISHES THE COMPANY: Opportunity fund guys tend to emphasize financials and lack Antares’ operating/construction infrastructure. Builder/developers lack Antares’ team of Ivy League MBAs to be financially sophisticated.
BIGGEST CHALLENGE: Keeping up with all of our opportunities.
GREATEST ACHIEVEMENT: Having customers, employees and investors whom we have done business with and became friends with over the years.

From: Panache - Real Estate
Source URL: http://www.panachemag.com/Archive/9_04/Features/Real_Estate/Real_Estate.asp

Antares sued for $19.4M by former partner

By Monica Potts
Staff Write

STAMFORD - The developer of 80 acres in the South
End is being sued for $19.4 million by a former partner, according to documents filed in state Superior Court in Stamford.

In a nine-count lawsuit filed in December, William Paul Dellasorte, president of William Paul Inc., a Danbury construction company, accuses Antares Investment Partners, its co-founders, James Cabrera and Joseph Beninati, and subsidiary companies of violating the terms of an oral agreement and committing fraud and deceit.

"This complaint is completely without merit and we are disappointed in the plaintiff, who was, in fact, overcompensated for his contribution to the venture at issue," John Freeman, general counsel for Antares, said in a statement. "This action may require us to consider our own legal recourse against the plaintiff."....