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KTR Expands Base with LA, Chicago Offices

NEW YORK CITY-The locally headquartered private equity fund manager and operating company plans to emphasize both acquisition and development while establishing new strongholds.

By Paul Bubny | Updated on June 09, 2008

NEW YORK CITY-KTR Capital Partners, headquartered here, has opened investment offices in Chicago and Southern California as part of a strategy to expand its portfolio. The announcement comes a few months after KTR’s initial foray into Southern California, a $54.5-million acquisition of a 790,000 warehouse and distribution complex at 1601 W. Mission Blvd. in Pomona, CA that GlobeSt.com first reported in April.

“We believe strongly that the largest distribution markets in the country—-Los Angeles, Chicago, New Jersey and South Florida—-are positioned to outperform over both the near and long-term,” says Bob Savage, president of KTR, in a prepared release. “Having investment infrastructure on the ground in these markets is an important element of our strategy to exploit the advantages of local operating expertise.”

SVP Brian Milberg has relocated from KTR’s New York City headquarters to direct the company’s initiatives in the Chicago area, a market in which he has been a key player in acquiring and developing more than five million sf since 2005. VP Brian Gagne has moved from the suburban Philadelphia office to oversee the new one in Newport Beach, CA.

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