Morgenstern Capital Taps Real Estate Vet to Grow Asset Management

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.