Burger was most recently president and CEO of Artisan Real Estate Ventures, where he oversaw the acquisition and management of almost 2,000 residential rental units in the Las Vegas area. Before founding Artisan in 2006, Burger spent 15 years at the Related Cos., most recently as president of Related Las Vegas and as EVP of the Related Cos. He was also EVP and CIO of Related Urban Development, responsible for the structuring and financing for all of its projects.
Locally, that included $1.8 billion of debt and equity for Related's 2.8-million-square-foot Time Warner Center. Burger later helped orchestrate the refinancing of more than $2 billion of debt and equity on the mixed-use project. In the 1990s, he worked as a VP at the Blackstone Group and on the acquisition side for Goldman Sachs' Whitehall Real Estate funds.
In a release, SPI president and CEO Larry Silverstein says Burger's track record, professional skills and ingenuity "will serve this firm extremely well in the years to come as we acquire new properties, win new development projects and form new joint ventures." For his part, Burger says his job will be to help SPI "expand some of the company's existing platforms, create some new platforms and help prepare the company to take advantage of emerging opportunities around the world."
Perhaps most closely associated with the World Trade Center, where it opened 7 World Trade Center in 2006 and has three more towers under development, SPI's reach extends beyond the WTC. The company owns and manages millions of square feet of office space in Midtown and Downtown. Its Midtown office holdings include 529 Fifth Ave., 570 Seventh Ave., 575 Lexington Ave. and 1177 Avenue of the Americas; Downtown, SPI owns 120 Broadway and 120 Wall St.
On the residential side, SPI opened the 40-story 1 River Place luxury apartment building in 2000 on the Far West Side and is completing two 60-story residential properties that will comprise the adjacent Silver Towers at River Place. In 2008, Silverstein announced plans for the Four Seasons Hotel & Residences at 30 Park Place, which will include a 186-room hotel and 143 luxury condominium units on the upper floors. An SPI spokesman tells GlobeSt.com that work on the project, which was suspended after the foundations were completed, will resume once the financing environment permits it.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
