NEW YORK CITY—Emanuel Stern, vice chairman of Hartz Mountain Industries, and Bradley Settleman, founder of Latus Partners, have formed Tall Pines Capital, a privately held real estate investment vehicle.
The executives will serve, respectfully, as managing principal and partner, while the firm's leadership team also includes Scott Cohen, VP.
Tall Pines will invest its own capital in debt, equity and principal positions in residential and commercial real estate in the New York metropolitan area. The company plans to invest in and mentor growing developers who have demonstrated success at early stages of their careers by taking creative positions throughout the capital structure.
“Tall Pines' structure allows us to add value to meaningful projects and innovative development teams not just with funding, but with guidance and experience,” says Stern. “Although late in the cycle, this is a very inspiring time in the New York City landscape with massive opportunities to ride the city's persistent strength.”
Adds Settleman, “New York has always been a dynamic market but the last five or so years have established a wave of growth and gentrification unlike any we have seen before. It is exciting and will likely be long-lasting.”
Stern's launch of Tall Pines follows his role as CEO of Hartz Mountain Industries, where over two decades he led a transformation of the largest privately held portfolio of commercial property in the US into a more diversified real estate developer with luxury hotels, residential projects and retail concepts.
Prior to forming Tall Pines, Settleman was president of 40 North Properties and is also the founder and managing principal of Latus Partners. He has been a principal investor in real estate for the past 25 years with experience in acquisition and development as well as structured debt investments. Settleman has invested throughout the capital structure in ground up development, asset repositioning, recapitalization and partnership buyouts.
Cohen is responsible for sourcing, structuring, underwriting and coordinating the firm's current and potential investments. Before Tall Pines Capital, he was VP at Fisher Brothers, where he worked acquisition, financing, business development and asset/portfolio management activities, including the conceptualization and implementation of the firm's mezz
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
