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Rockefeller Group promotes Rashin to co-CEO

Mitsubishi Estate’s real estate arm picked Daniel Rashin to share the roles of chief executive officer and president starting in 2016.

The Rockefeller Group has tapped Daniel Rashin, its senior vice president, to share the titles of chief executive officer and president with Atsushi Nakajima, who has held the roles since March 2013.

The New York-based firm is a global property owner, developer and investment manager owned by Japan’s Mitsubishi Estate. The group, known for the eponymous Rockefeller Center in Manhattan, has stakes in about 7 million square feet of Class A office space in major US central business districts and invests in mixed-use, residential and retail properties. It also holds majority interests in Boston-based TA Realty and London-based Europa Capital.

Rashin’s new role starts January 1. He will share responsibility for the group’s business and investment operations with Nakajima, according to a statement from the firm. Rashin joined the group in 2013 as the senior vice president of investments after working at Hines, where he was the portfolio manager for a joint venture and a fund between Hines and the California Public Employees’ Retirement System. At The Rockefeller Group, he was also the head of New York development and urban development nationally.

Rashin “has the broad institutional real estate background and the deep development experience in New York and globally that will be critical as we redevelop world-class assets like 1271 Avenue of the Americas and expand our development portfolio and investment management capabilities,” said Jo Kato, the firm’s chairman of the board of directors, in a statement.

The promotion comes as The Rockefeller Group reinvests in its New York portfolio, according to the statement. The group is currently developing a 1.8 million square foot mixed-use development in Flushing, Queens and will spend $300 million to redevelop 1271 Avenue of the Americas, the former Time & Life Building.