iStar announced Tuesday that Marcos Alvarado joined the firm as its chief investment officer. 

Alvarado will serve as a member of the senior executive team where he will oversee originations and growth across the company's diversified $5 billion investment portfolio. He will report to Jay Sugarman, chairman and CEO, the company explained in a press release.

"Marcos brings significant real estate investment experience as well as valuable leadership and perspective to our company as we continue to focus on our creative approach to the market," said Sugarman. "Marcos will play a central role in helping the company identify opportunities and grow our core business."

Alvarado has closed more than $25 billion in investments across all parts of the capital structure. He previously served as head of acquisitions and business operations for real estate investment platform Cadre, and a managing director at Starwood Capital. Prior to Starwood Capital, Alvarado served as vice president in Lehman Brothers' Global Real Estate Group. He began his career in Morgan Stanley's CMBS group.

"I have a tremendous amount of respect and admiration for the way iStar does business after sitting across the table on multiple occasions," said Alvarado. "I am proud to join this seasoned team and firmly believe we are positioned to capitalize on the company's foundation with potential for explosive growth over the months and years to come."

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