Global private investment firm Starwood Capital Group announced this week it has made two senior additions to the firm's asset management team.
In January, Alex Waterbury joined Starwood as managing director, head of development, and in June, Andrea Pierce will be joining the firm to serve as the managing director, head of office asset management.
Starwood Capital explained that both hires are a strategic priority for the firm and highlight the company’s dedication to creating value for its investors through hands-on asset management. As Starwood's continues to grow its asset base, the firm is committed to adding senior-level talent to its world-class asset management organization, the company explained in a press release.
"Andrea and Alex are seasoned executives that bring unique skill sets to our Asset Management Group," said Mark Deason, Starwood Capital Group's head of U.S. asset management. "They are proven and effective leaders that will significantly help us manage our growing asset base and develop our in-house capabilities as we continue to expand."
According to the firm, Starwood Capital’s current U.S. portfolio includes more than 73,000 apartment units, 500 hotels, 16 million square feet of office, 16 million square feet of retail and 27,000 residential lots and condos.
"One of the benefits of reaching the scale that Starwood has achieved is our ability to attract the most sought-after talent in the industry to help us oversee that portfolio. I'm really excited to get Andrea and Alex on board to supplement the already exceptional team we have in place and challenge us to be even better," said Barry Sternlicht, Chairman and CEO of Starwood Capital Group.
Before joining Starwood Asset Management, Waterbury served as president of Northern California development for Lennar’s multifamily communities. Prior to Lennar, he served as the vice president at Mill Creek Residential Trust and previously served as the vice president of development at Trammell Crow Residential.
Pierce previously spent 11 years with JPMorgan Investment Management in various roles, including managing director and head of Eastern U.S. Office & Industrial Asset Management, managing director and head of U.S. retail acquisitions. She also served as a member of the board of directors and operating committee of Carr Properties.
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