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 email@example.com
Mack Family Announces Formation of Mack Real Estate Group
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