Green Courte Partners has partnered with Mark Scully, the 17-year veteran of Equity Office Properties, to help build its retail platform.
The Chicago-based private equity real estate firm, founded in 2002, said Scully would provide oversight of Green Courte’s existing mixed-use projects in Colorado, including at Steamboat Springs, Boulder and Fort Collins – and help identifying new investments in the US state.
Scully started Equity Office Properties in 1991. EOP was bought out by The Blackstone Group in a $39 billion deal last year. Immediately after taking control of EOP, Blackstone started selling off parts of the portfolio and within a few months of closing the deal had earned back 70 percent of the purchase price.
Blackstone won the Global Deal of the Year award – voted for by PERE magazine readers – in the 2007 Global PERE Awards for its EOP disposals.
Randy Rowe, Green Courte chairman, said in a statement Scully would have an “immediate impact” on the firm’s Colorado operations. Green Courte Partners closed its second real estate investment fund, Green Courte Real Estate Partners II, on $262.5 million last year.