David Lynn, the former global head of investment strategy and research at Clarion Partners, has joined Cole Real Estate Investments as the Phoenix-based real estate firm’s executive vice president and chief investment strategist. He is working out of Cole’s headquarters and reports directly to Marc Nemer, president and chief executive officer.
In his new role, which he began earlier this week, Lynn will lead Cole’s investment strategy and research group and its underwriting team. He primarily will be responsible for portfolio investment and management strategies, capital market analysis and economic research.
“It was a very compelling opportunity. Cole has done very well in the marketplace, and the offer was something I couldn’t turn down,” Lynn told PERE.
Lynn will work closely with Cole’s capital markets platform, advising on the strategy of new products and strengthening relationships with key stakeholders. He also will serve on Cole’s executive committee, which drives the strategic direction of the firm, and its investment committee, which drives real estate investment decisions.
“I’m making recommendations, developing strategies and seeing that those strategies are being implemented in the actual underwriting,” added Lynn.
As a result of joining Cole, Lynn said that his own independent enterprise, Lynn Capital Management, and its commingled global multi-asset strategy vehicle, the LCM Total Return Fund, have both been “put on hold indefinitely.” He was unable to comment on that further.
Lynn will be replacing Indraneel Karlekar, who helped further Cole’s portfolio management and research efforts. Lynn’s role, however, has been expanded to include providing investment strategy and underwriting. Karlekar will be assisting in the transition and subsequently leaving the firm to rejoin his family, which resides out of state.
Prior to joining Cole, Lynn was with Clarion for five years, having joined in 2007 when the firm was part of ING Real Estate Investment Management. As head of research and investment strategy, he defined Clarion’s portfolio investment strategy and played a role in its product development initiatives, ranging from new opportunistic funds to new markets and business strategies. He also was a member of Clarion’s investment and operating committees. Before joining Clarion, Lynn was managing director, global chief strategist and economist at AIG Global Real Estate, the real estate investment management division of American International Group.