NEW YORK CITY—Creating a new position, The Rockefeller Group has appointed Daniel Rashin co-president and CEO. He will join in a co-leadership capacity with Atsushi Nakajima, who has served as the company's sole president and CEO since March 2013, during which time the company has significantly expanded its development and investment management activities nationally. The appointment will be effective January 1, 2016.
The two executives will have joint oversight of Rockefeller's business and investment operations, which include an office portfolio in Manhattan. The Rockefeller Group, which is headquartered here, is the largest international subsidiary of Tokyo-based Mitsubishi Estate Co.
Rashin's new role was established in order to help the company manage an aggressive growth strategy, a spokesman tells GlobeSt.com. "The company is pursuing a multi-year growth strategy that has an emphasis on development and investment management, as well as enhancing the value of owned assets—especially our core holdings in New York."
He continues, "The company feels that right now a co-leadership structure provides the best opportunity to manage strategy and execute on priorities, especially given the respective experience of the co-CEOs."
Rashin joined the company in 2013 as SVP, investments. Since that time he has assumed additional leadership responsibilities, including head of development in New York and urban development nationally.
Prior to joining Rockefeller, Rashin spent over 20 years at Hines Interests. His first 10 years there were spent primarily in development with involvement in projects in New York City, Washington, DC and in Princeton, NJ.
He left Hines in 1994 and joined the Yarmouth Group—a subsidiary of the Australian real estate company Lend Lease—as CEO of the Australian real estate investment management group and CEO of the European investment management group.
He returned to Hines in 2001 and worked on National Office Partners, a Hines CalPERS joint venture. He later became its portfolio manager and was also the portfolio manager for the Hines CalPERS green development fund.
During Rashin's tenure at Rockefeller, the company has started or advanced several large-scale development projects in New York, New Jersey, Florida and Arizona.
According to Jo Kato, chairman of the Rockefeller Group's board of directors, "Dan has the broad institutional real estate background and the deep development experience in New York and globally that will be critical as we redevelop world-class assets like 1271 Avenue of the Americas and expand our development portfolio and investment management capabilities."
"It is an honor to work alongside Atsushi to enhance the Rockefeller Group's existing portfolio and to grow our investment and development activity in New York and nationally," says Rashin. "The company benefits greatly from its heritage, its people and its partnership with Mitsubishi Estate. We're expecting to continue to use these assets, a strong balance sheet and a clear focus to create favorable investment opportunities for us, our partners and investors."
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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.
