Mack Family Announces Formation of Mack Real Estate Group

  Mack Family Announces Formation of Mack Real Estate Group

Business Wire

NEW YORK -- August 21, 2013

The Mack Family has officially launched Mack Real Estate Group as its new
family enterprise for investments in real estate, the company announced. With
William Mack, Richard Mack, and Stephen Mack as its founders, Mack Real Estate
Group brings together decades of global real estate investing experience. Mack
Real Estate Group will invest capital in a variety of real estate strategies
for the Mack Family as well as partnering with institutional investors and
high net worth individuals. Headquartered in New York, the company anticipates
opening satellite offices in Los Angeles, Seattle, and London within the next
6 months.

Mack Real Estate Group is an opportunistic investor that maintains a
long-term, multi-generational approach to wealth enhancement through real
estate ownership. Mack Real Estate Group pursues multiple real estate
strategies, including domestic and international development, investment, and
financing. The company currently directly owns and manages approximately 6
million square feet of commercial real estate and real estate developments and
has partnership interests in entities that control in excess of 60 million
square feet. Mack Real Estate Group is the majority owner of Winthrop Property
Management, which provides third-party property and construction management
services to approximately 11,000 multifamily units and 10 million square feet
of commercial buildings.

“It’s exciting to continue the Mack Family heritage in real estate investment,
and we look forward to identifying and executing on the best opportunities
globally,” said Richard Mack. “As we always have been, we are disciplined
investors, guided by intensive study of demographic and economic trends that
drive demand for real estate. We will often be direct investors, and as we
build Mack Real Estate Group, we will also seek partnerships with emerging and
established investment managers and developers who share our vision for
successful real estate investment, and seek to provide them advice, counsel,
and expertise as well as access to institutional investors. Our goal is to
generate excellent returns for our partners and ourselves through long-term
real estate ownership. We seek to achieve that goal through careful oversight
of what we own, bold but analytical thinking about new opportunities, and
quick, careful execution.”

William Mack and Richard Mack were both founders of AREA Property Partners
(formerly known as Apollo Real Estate Advisors), a leading real estate
investment manager recently acquired by Ares Management LLC. Richard Mack, who
serves as Chief Executive Officer of Mack Real Estate Group, was previously
North America CEO of AREA and will continue as a consultant to Ares through
December 31, 2013. William Mack, Chairman of Mack Real Estate Group, was
AREA’s Chairman. During their tenure, the AREA investment funds collectively
invested in more than $70 billion of diversified real estate ventures in 25
countries throughout the world. William Mack serves as Chairman of the Board
of Mack-Cali Realty Corporation, a publicly-traded real estate investment
trust.

Claros Fund Management, LLC, for which Richard Mack serves as chief executive
officer, is a registered investment adviser focused on long and short-term
hedged investments in real estate securities and operates as a separate
business.

About Mack Real Estate Group

Mack Real Estate Group (MREG), founded by William, Richard, and Stephen Mack,
is an enterprise devoted to managing the Mack Family’s capital, institutional
capital, and high net worth capital through direct and partnership investments
in real property and related securities. MREG brings together the expertise to
recognize and analyze new real estate opportunities with the necessary speed
and flexibility to maximize them, while retaining the ability to hold assets
long-term and maintain hands-on management.

MREG currently specializes in domestic and international real estate
investment, development and financing opportunities. Currently, the company
directly owns and manages approximately 6 million square feet of commercial
real estate and real estate developments, and holds partnership interests in
entities controlling in excess of 60 million square feet. Additionally MREG is
the majority owner of Winthrop Property Management, which provides third-party
property and construction management services to approximately 11,000
multifamily units and 10 million square feet of commercial buildings.

Contact:

Great Ink Communications
Roxanne Donovan, 212-741-2977
Roxanne@greatink.com
or
Eric Waters, 212-741-2977
eric.waters@greatink.com
 
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