General Equity Real Estate has hired former GE Real Estate executive John Thornley as chief operating officer.
The Chicago-based firm, founded by ex-GE Real Estate vice president Chris Macke, spun out of the US conglomerate earlier this year.
Thornley spent more than 25 years at GE Real Estate in charge of triple net lease operations. He previously worked for Metropolitan Life Insurance.
Macke told PERE magazine last month he hoped to be joined by other GE Real Estate net lease executives in the future.
General Equity will target single tenant office and industrial properties in the US. The firm is expecting to form programmatic joint ventures rather than raising private equity real estate funds.
Thornley will be responsible for the day-to-day operations of evaluating, structuring, underwriting and closing deals.