June 22, 2009
Treeline Adds Exec
to Lead Workout-Consulting Unit
|
Treeline Cos., a New York real estate investor with more than 2.5 million square feet of office space, has launched an advisory and asset-management unit aimed at helping lenders and investors work out distressed real estate. The company has hired Jason Wilensky as senior vice president of business development for the new unit, Treeline Realty Advisors. Wilensky previously traded B-notes and mezzanine debt for Bank of America. The unit will provide consulting services for the management and disposition of underperforming and otherwise distressed real estate. "It has always been part of Treeline's DNA to seek out assets that presented opportunities, and we have formed this new division to assist financial institutions and investors that need assistance in maximizing the value of distressed assets they now have on their balance sheets," said Howard Schor, principal of the Garden City, N.Y., company, whose portfolio is concentrated in the greater New York City area. Treeline has long focused on investing in underperforming properties in need of a turnaround. The company can also become a co-investor on select assets. Before BofA, Wilensky was a director at TIAA-CREF. Before that, he was vice president at Chase Manhattan Bank. |