Private equity real estate firm KTR Capital Partners is breaking into the industrial property market in Chicago and Newport Beach, California with the opening of two new offices, and at the same time relocated senior vice president Brian Milberg and vice president Brian Gagne to direct its investments in the area.
KTR president Bob Savage said in a statement that large US distribution markets such as Los Angeles, Chicago, New Jersey and South Florida are “positioned to outperform” in the near- and long-term. “Having investment infrastructure on the ground in these markets is an important element of our strategy to exploit the advantages of local operating expertise,” Savage added.
Brian Milberg, KTR senior vice president, has relocated from the firm’s New York headquarters to direct its investments in the Chicago area. Milberg has been with the firm since its formation in 2004. Ryan Stoller, an investment analyst in the firm’s New York office, will be joining the Chicago office later this year.
Brian Gagne, KTR vice president, has relocated from the firm’s suburban Philadelphia office to direct its investments in the Greater Los Angeles area. Gagne joined the firm in 2005.
The new offices will further New York-based KTR’s strategy of acquiring and developing industrial assets in the US. “Among our first two funds we have approximately $2 billion of investment capital at our discretion to commit to value-add transactions…Mr. Milberg and Mr. Gagne will play major roles in identifying opportunities in these two key markets,” said Savage.