Despite an initial focus on the Northeast, the new venture is ultimately looking to buy, manage and reposition properties globally using capital from Whitehall-- Goldman Sachs' private real estate fund. Whitehall boasts about $40 billion of property worldwide, according to a spokesperson. C&W will serve as the operating leg of the venture, handling all leasing, management, and sales for Sienna. Per the agreement, Sienna and Whitehall will also have access to the C&W's research and e-partner capabilities.
Tom Falus, president of C&W's strategic ventures group, will head up Sienna as CEO once the venture inks its first office acquisition. Developer Michael Dennis will serve as chairman.
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