PHOENIX--(BUSINESS WIRE)--Vestar Development Company, one of the leading privately held real estate companies in the western United States, has hired Bob Cavanaugh as Chief Investment Officer. Based in the firm’s Phoenix headquarters, Cavanaugh will be responsible for overseeing the raising of third-party equity capital, identifying investment opportunities and structuring joint ventures in pursuit of achieving the firm’s overall investment goals.
“Bob’s investment experience, industry relationships and track record in completing commercial real estate transactions will be invaluable to our firm,” said Rick Kuhle, President of Vestar Development. “We believe that now is a great time to invest in commercial real estate and we are actively looking for value-added opportunities in the Southwest and West.”
Cavanaugh comes to Vestar with a wealth of experience in commercial real estate investment and finance. Prior to joining Vestar, he served as managing director for DLJ Real Estate Capital Partners where he was oversaw all aspects of the firm’s real estate private equity business in the Western United States. Throughout his 25 year career, he has worked as a commercial real estate executive with Deutsche Bank Securities, LaSalle Partners and Goldman, Sachs and Co.
Cavanaugh earned a Master’s degree in Business Administration with an emphasis in real estate and management from The Harvard Business School and a Bachelor of Science degree in finance and accounting from University of Pennsylvania’s Wharton School of Business. He is a member of Urban Land Institute, Real Estate Investment Advisory Council and NAREIT. He also serves on the boards of The Hershey Company, the Hershey Trust Company and the Neighborhood Youth Association.
ABOUT VESTAR DEVELOPMENT
One of the leading privately held real estate companies in the western United States, Vestar specializes in the development of open-air retail centers and the management of retail, office and industrial properties. Vestar builds and manages entertainment-retail complexes, power and "lifestyle" centers, and neighborhood centers of varying size and scale that serve as community shopping destinations with a unique sense of place. Since its inception in 1977, Vestar has earned a reputation for integrity and responsibility in the fields of commercial development and property management. The company enjoys a significant market share in the Phoenix, Los Angeles and San Diego metropolitan areas. For more information, please visit www.vestar.com.