NEW YORK CITY— Morgenstern Capital, an investor, and operator of multifamily and mixed-use properties, and affiliates Canvas Property Group and Finished Canvas has tapped real estate veteran Al Tylis to join the team as a strategic partner and advisor. He joins the firm from NorthStar Asset Management where he served as chief executive officer and president.
While at NorthStar, Tylis saw the firm through its growth into a $38 billion global real estate asset manager prior to its sale to Colony Capital, a Los Angeles-based real estate investment firm, in 2017. He has also held positions at NorthStar Realty Finance, NorthStar Realty Europe, The Townsend Group and RXR Realty.
"With Al coming on board bringing his remarkable background and proven track record, Morgenstern Capital and our companies are poised for even greater growth and success," said the firm in a prepared statement.
Walking through the doors at Morgernsten, Tylis will assist in growth initiatives at the company, one involving the firm's newly launched third-party management business, Canvas Property Group, which has added over 300 units in seven buildings in the last few months.
Founded in 2014, Morgenstern sources off-market transactions using proprietary intel to acquire and reposition underperforming. Over the last five years, its in-house construction & asset management teams have renovated over 500 apartments.
"Rob's philosophies are aligned with my own, and I look forward to contributing to the continued development and success of these companies," said Tylis in a prepared statement.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
