, the former chief executive officer of private equity investment manager JER Partners, has joined the newly formed Mack Real Estate Group (MREG) as vice chairman and a member of the investment committee.
A longtime leader in the private real estate industry, Gale joined JER in 2009 from Starwood Capital Group, where he served as vice chairman of real estate. Prior to Starwood, Gale was chief investment officer of real estate at ABP Investments US, the investment arm of Stichting Pensioenfonds ABP, a large Dutch pension plan. He also held investment banking roles at Salomon Brothers in London and New York and at Nesbitt Burns Securities in New York.
Richard Mack, chief executive of New York-based MREG, noted that Gale’s investment expertise and longstanding relationships in the industry will help source new transactions and build the firm’s business. “As we increase our activity across the US and beyond, we’re selectively expanding Mack Real Estate Group’s core of senior-level investment talent. Barden is the perfect fit for our long-term, flexible approach to real estate acquisition and ownership,” he said in a statement. “Barden’s pedigree would be hard to match, and we’re extremely pleased to welcome him.”
Following the takeover of AREA Property Partners by Ares Management, AREA founders William and Richard Mack spun out to form MREG, which invests capital in real estate strategies on behalf of the Mack family, partnering with institutional investors and high-net-worth individuals. Most recently, MREG completed the development of 50 North 5th Street, a luxury rental project in Williamsburg, Brooklyn. Through its affiliate Mack Urban, it acquired for $81 million a six-acre development site in the South Park district of Los Angeles in partnership with AECOM Capital.