Tawan Davis has left his executive post at real estate development firm Peebles Corp. to head the Steinbridge Group as its CEO.
Davis, a former Wall Street investment banking executive and VP of real estate transactions for the New York City Economic Development Corp. during the administration of former Mayor Michael Bloomberg, comes to Steinbridge after serving as CIO of New York City-based Peebles Corp. and president of Peebles Capital Partners. Peebles Corp. has a wide ranging real estate portfolio in a host of major US markets, including New York, Philadelphia, Washington DC, San Francisco, Boston, Miami and Miami Beach.
Davis, who was selected as one of the top 50 real estate executives in the US under the age of 40 by Real Estate Forum last November, will overseen New York City-based Steinbridge Group’s day-to-day operations and transaction pipeline. The firm was formed by a group of private family and international investors that has closed on $200 million in US real estate acquisitions so far this year.
in 2015 Davis led the acquisition and development team for Peebles for the $330-million Viola Back Bay project in Boston, which is currently under development.
Steinbridge is focused on acquiring income-generating assets in the Washington, DC, Boston, and New York City markets. The firm is finalizing the acquisition of an additional $500 million in assets, with another $1 billion worth of acquisitions in the pipeline, the company states.
“Tawan has a brilliant eye for real estate finance,” Steinbridge’s investors said in a statement. “His investment experience within both the public and private sectors in the US and abroad gives him a global perspective on key investment drivers, as well as a strong ability to structure, execute, and manage individual real estate investments. We are confident that as Steinbridge’s CEO, Tawan will identify high-quality assets for investment with long-term value on our behalf.”
Prior to the NYCEDC, Davis was an investment manager with Prudential Real Estate Investors, where he managed several billion dollars of real estate investments, joint ventures, developments and operating assets throughout the US and Europe. He was also an investment banker with Goldman Sachs, where he concentrated on mergers, acquisitions, and financing of publicly traded companies.
“I am excited to have the opportunity to advance Steinbridge as a presence in the global real estate investment market,” Davis says. “We have identified several niches within the property market that appeal to our investment partners and bode well for the company’s future.”
Steinbridge plans to make additional high-level executive hires, while actively negotiating the acquisition of several additional assets, which they hope to finalize over the coming months, Davis adds.
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