16A — November 13 - 26, 2015 — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest Tall Pines to invest its own capital in debt, equity and principal positions Stern & Settleman announce Tall Pines Capital real estate investment & development company
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projects and innovative devel- opment teams not just with funding, but with guidance and experience,” said Stern. “Although late in the cycle, this is a very inspiring time in the New York City landscape with massive opportunities to ride the city’s persistent strength.” “New York has always been a dynamic market. However the last five or so years have established a wave of growth and gentrification unlike any we have seen before,” said Settleman. “It is exciting and will likely be long-lasting.” Stern’s launch of Tall Pines
proceeds his role of chief ex- ecutive officer of Hartz Moun- tain Industries, where over a 20-year term he oversaw the transformation of the larg- est privately held portfolio of commercial property in the US into a more diversified real estate developer with luxury hotels, residential projects and contemporary retail concepts. Prior to forming Tall Pines with Emanuel Stern, Bradley Settleman was president of 40 North Properties and is also the founder andmanaging principal of Latus Partners , both opportunistic real estate investment platforms in New York City. Settleman has been a principal investor in real estate for the past 25 years. Cohen is responsible for sourcing, structuring, under- writing and coordinating the firm’s current and potential investments. Before joining Tall Pines Capital, he was a vice president at Fisher Brothers where he was ac- tively involved in all areas of the firm’s acquisition, financ- ing, business development and asset/portfolio management activities. n Sparrows Point Terminal names Doyle VP of finance BALTIMORE, MD — S parrows Point Terminal LLC (SPT) , one of the largest privately owned waterfront logistics and manufacturing multi-modal sites in North America, has named Kerry Doyle as its VP of finance. Kerry will join the project to focus on managing assets, fi- nances, and long-term invest- ment opportunities. As VP of finance, Kerry will will ensure that the master plan is designed to meet finan- cial expectations, that capital is efficiently deployed, and key projects are fully funded. “Sparrows Point is a project of immense scale and invest- ment opportunity, and I look forward to working with the rest of the management team to realize the full economic potential that the transforma- tion of this unique asset will have on the state and region,” said Doyle. Kerry Doyle joins SPT from Redwood Capital Invest- ments , where his primary responsibilities included un- derwriting and structuring in- vestment opportunities as well as portfolio management. n
EW YORK — Eman- uel Stern , vice chair- man of Hartz Moun-
tain Industries , and Brad- ley Settleman , founder of Latus Partners , have formed Tall Pines Capital , a New York City-based, privately held real estate investment vehicle. The Tall Pines team also includes Scott Cohen , vice president, and maintains of- fices at 667 Madison Ave. Tall Pines will invest its own capital in debt, equity and principal positions in residen- tial and commercial real estate in the New York metropolitan
Emanuel Stern Bradley Settleman
Scott Cohen
area. The company expects to invest in and mentor growing developers who have demon- strated success at early stages of their careers by taking cre- ative positions throughout the capital structure. Tall Pines
Capital anticipates providing insight gained through the principals’ careers as develop- ers, owners and institutional investors. “Tall Pines’ structure allows us to add value to meaningful
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