GlobeSt.com UPDATE: Former Spieker Execs Ready for Repeat Performance

PALO ALTO, CA-The four men responsible for building up Spieker Properties and selling it to Equity Office Properties Trust for $7.3 billion just ahead of the recession are ready for a repeat performance.

With the first fund of their new company Broadreach Capital Partners now closed at just over $300 million, Craig G. Vought, John A. Foster, Eli Khouri III and Warren E. “Ned” Spieker, Jr. are ready to start leveraging the cash for commercial property acquisitions.

Vought and Foster, the former co-CEOs of Spieker Properties, on Tuesday announced their resignation from EOP’s board of trustees in order to focus on their new entity. Ned Spieker, former chairman of Spieker Properties, will remain on the EOP board and will not be involved in the daily operations of Broadreach, according to EOP. Khouri, formerly Spieker’s chief investment officer, was not on the EOP board. All four hold the title of managing partner at their new firm.