Park Madison Partners has hired three senior real estate executives as principals and managing directors as it looks to expand its US and Asia placement activities.
The New York-based firm said in a statement Quince Hill Partners founder and chief executive officer Tom Foster had joined the firm as managing director to help develop business in the Asia region. He will be based in Hong Kong.
Fellow Quince Hill partner Rob Kohn also has joined Park Madison in its New York office as principal, while Yasmine Uzmez has joined the firm as principal focused on business development, due diligence and project management.
Park Madison confirmed that vice president Monica Ashley left the firm on 1 February.
Prior to Quince, Kohn was a JPMorgan investment banker in Singapore and strategic consultant for Rockspring Property Investment. Uzmez previously was director of investments at Black Creek Group’s fund of funds and prior to that was vice president of Richard Ellis’ consulting group.
Despite value-added and opportunistic real estate funds raising just $24 billion in equity in 2010, according to PERE figures, Park Madison co-founder Nancy Lashine said as “capital markets improve [and] the opportunities for institutional investors in real estate rebound” the industry was on the “threshold of new growth”.