Trecap hires former Lehman deal executive

Michael McNamara will lead the Philadelphia-based firm’s acquisitions and dispositions group, after Trecap took over Capmark Investments’ real estate funds business.

Trecap Partners has hired ex-Lehman Brothers executive Michael McNamara to lead its deal group, fresh after taking over the real estate funds business of Capmark Investments.

McNamara was managing partner and principal of Lehman Brothers Real Estate Partners, responsible for the firm's North America acquisitions and dispositions. He joined Lehman Brothers in 2000, previously working as national head of acquisitions at Lend Lease Real Estate Investments and its predecessor Equitable Real Estate Investment Management.

Earlier this month, Trecap – founded in 2009 by former Equitable Real Estate Investment Management executives Doug Tibbetts, Gary Sligar and Paul Klick in association with developers Transwestern and Hunt Companies – took over Capmark Investments’ real estate funds business and its 29-strong team.

Trecap acquired the investment management contracts and general partnership interests in Capmark’s four US equity property funds as well as one UK equity vehicle and several single asset client accounts for an undisclosed sum.

McNamara and Tibbets worked together at Equitable Real Estate, today's statement said.

Trecap’s portfolio now includes roughly 21,000 multifamily units, more than 5.4 million-square-feet of office space and more than 3.6 million-square-feet of retail space, as well as mixed-use and industrial properties. Capmark Investment’s equity portfolio was previously valued at $4.3 billion and included 129 multifamily and commercial properties in the US and 41 commercial and multifamily assets in Europe.

Ex-Capmark Investments’ management team, Robert Fabiszewski, William Martin, Wayne Harris, Paul Dolinoy and Gene Conway, as well as 25 other real estate professionals, including five in London, transferred to Trecap following the take-over.