New York Life Real Estate Investors has brought aboard Paul Behar as senior director and head of business development, in a newly created position. He will oversee the firm’s investor relations and distributions efforts, including coordinating communications, marketing strategy and relationship building with existing and prospective investors and clients. He will report to Mark Talgo, head of New York Life Real Estate Investors.
“We are very pleased to welcome Paul to our team,” Talgo said in a statement. “His extensive institutional real estate experience, on both the debt and equity sides of the business, will prove to be an important asset to us as we continue to grow the business and deepen our relationships with key partners and clients.”
Behar came to New York Life from El Paso, Texas-based Hunt Companies, where he was a senior vice president responsible for capital formation and acquisitions for approximately two-and-a-half years. Prior to Hunt’s acquisition of the Tuckerman group from State Street Global Advisors, Mr. Behar was a senior vice president for more than seven years at Tuckerman, where he was responsible for sourcing, underwriting and closing joint venture equity and mezzanine loan investments.
New York Life Real Estate Investors is the real estate debt and equity investment arm of NYL Investors LLC, which is a wholly-owned subsidiary of New York Life Insurance Company. The division manages a number of separate accounts and funds across both its debt and equity platforms including the Madison Core Property Fund, an open-end fund with $1.4B in investor capital raised since inception.
The firm currently manages more than $41 billion of assets through three investment platforms: Commercial Lending, Real Estate Equity Investment and Real Estate Securities Investment. New York Life Real Estate Investors has more than 100 professionals and is actively seeking to acquire additional properties in the US.