The Related Investment Fund, a Miami-based investment vehicle set up by private equity firm Lubert-Adler and the private multi-family developer The Related Group, has hired Jordan Paul as its senior managing director.
Paul was founder and chief executive officer of south Florida-based Aquila Property Company, an investment and management company that redevelops, manages and leases commercial properties, primarily in Florida.
Jorge Perez, chairman and chief executive at The Related Group said in a statement Paul offered “a valuable combination of private equity and institutional investment experience and excellent relationships in the banking community. He will make a significant contribution to the fund at this time.”
As reported on PERE in February, Miami-based Related and Philadelphia-based Lubert-Adler launched the $1 billion (€686 billion) fund in a bid to acquire property and distressed mortgages from developers, lenders and property owners in the Florida real estate market.
At the time Perez said the “sluggish” Florida market had prompted the creation of the fund.