NEW YORK CITY—Sitex Group, a fully integrated private equity firm that specializes in industrial real estate investment, development and asset management, is moving its corporate headquarters from Chicago to New York City, GlobeSt.com has learned EXCLUSIVELY. In tandem, Bo Farkas has joined the firm as SVP.
Formerly a VP at Prologis, he will oversee Sitex's development opportunities across the US. The firm will be based at 140 Broadway in Lower Manhattan. Sitex Group will continue to offer operations from Chicago, offering clients there a full complement of investment services.
“The New Jersey/New York market is one of the strongest in the country,” says principal Brian Milberg. “We will continue to grow and be a major player here and in our other target markets.”
Milberg's partner and Sitex Group principal David Friedman has relocated to New York. He notes, “Having the three of us in the same office will create tremendous synergies and we expect that energy to push forward the growth of the firm.”
The firm's 4,500-square-foot lease was brokered on behalf of Sitex by Jonathan Schindler from DTZ. It was unclear at press time who represented the building's owner, Union Investment Real Estate (formerly DIFA Deutsche Immobilien Fonds AG). Often called the Marine Midland Bank Building, 140 Broadway's major tenants include Brown Brothers Harriman.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
