Townsend's Fernstrom joins TRECAP

Heather Fernstrom has joined TRECAP Partners as vice president for client relations. According to an announcement by the Philadelphia-based real estate investment firm, Fernstrom joins TRECAP after working as a consultant at the Townsend Group. 

In the newly created position, Fernstrom will help manage and expand the firm's US institutional client base. She will work out of the firm's Washington DC office and report directly to TRECAP senior vice president and managing director Steve Walker. 

“Heather has extensive knowledge of real estate capital markets, client relationship issues and product development,” said Paul Dolinoy, TRECAP's executive vice president and managing director for client relations, in a statement. 

At Townsend, Fernstrom assisted the firm's institutional clients in developing investment objectives and in strategic planning, as well as underwriting investments targeted for acquisition and disposition. She joined Townsend in 2008 after working as a treasury management officer for Bancshares of Florida and, prior to that, as a staff accountant for Larson Allen in Naples, Florida. 

This is not the first time in recent months that TRECAP has made a new hire to accommodate potential growth. In June, the firm hired former Divco West Real Estate Services asset manager Melanie Gangel as a vice president of asset management. Gangel, who works out of TRECAP's San Francisco office, was hired to help the firm expand its footprint in the West Coast markets. 

TRECAP's portfolio includes 21,532 multifamily units, 3.8 million square feet of office space, 2.8 million square feet of retail space, 2 million square feet of mixed-use real estate and 540,000 square feet of industrial space. As of 31 March, TRECAP has $3.6 billion in assets under management.