Rubenstein enters RE debt space – Exclusive

The firm has hired a former Cushman & Wakefield executive to lead its efforts in commercial real estate debt.

Rubenstein Partners is planning to build a debt platform, starting with a new hire, PERE has learned.

The Philadelphia-based firm, which invests in office properties, has brought on Fred Harmeyer as debt portfolio manager. Through this new business segment, the firm plans to originate and hold first mortgage loans secured by transitional office buildings.

“We’re extremely pleased to welcome Fred to the Rubenstein Partners team,” said David Rubenstein, the firm’s founder. “We are in the process of significantly expanding our investment capabilities, and Fred offers a perfect blend of industry experiences that we expect will support our efforts well.”

Harmeyer most recently was a managing partner at GPB Capital Holdings, a New York investment manager, according to his LinkedIn profile. Before that, he spent three years as the senior managing director at Cushman & Wakefield, overseeing the firm’s investment sales and equity and debt finance groups, and earlier was the head of commercial real estate debt investments for New York-based investment manager High Rise Capital Management.

Rubenstein Partners, founded in 2005, most recently closed its third value-added fund, collecting $565 million for Rubenstein Properties Fund III in February, PERE previously reported.

The firm oversees about $1.2 billion in assets.