New York, NY After three decades in business, The Besen Group has embarked on a new partnership structure. In conjunction with several strategic hires, it is bolstering its platform as a full-service, commercial real estate advisory firm. Maintaining its long-standing recognition of the investment sales and brokerage brand, the eponymous firm is now known as Besen Partners. Its founder, Michael Besen, is at the helm of this game-changing reinvention and rebrand of the company.
“To better serve our clients and maximize the value of their real estate, we offer a more comprehensive investment strategy model. Besen has always maintained this vision at its core and is now in a position to execute on it,” said Michael Besen, founder and CEO of the 30-year-old firm.
To reflect the forward motion of the company, a new logo and brand will be launched to visualize the change. Now run by nine partners, Besen’s services have expanded to include:
- Investment sales.
- Principal investments;
- Debt and equity placement;
- Hospitality advisory & retail leasing;
- Distressed asset advisory and sales;
- Property & asset management; and
- Residential sales & leasing.
The Besen Partners transformation is an organic response to present and future market conditions. Now more than ever, real estate owners and investors need to diversify their business models and holdings. Besen industry veterans–and new partners–Ron Cohen, Matt Mager, Matthew Slonim, Sanjay Gandhi and Angela Ortiz are cross-selling their market expertise and services to accomplish just that.
To better expand their offerings, Besen Partners recently acquired Targeted Capital Solutions LLC, a Connecticut-based merchant banking firm that oversees property investment, asset management, and investment banking activities on behalf of private clients, families, trusts, foundations and other private investment groups. The founder of Targeted, Daniel Steinberg, has assumed the role of chief investment officer and partner for Besen. He will co-head Besen Capital Markets with 15-year Besen veteran, COO and partner Matthew Slonim. Together they will manage a series of targeted investment funds for clients to pool equity, as well as Besen’s debt and equity placement business.
“I am very excited to work with this diverse group of industry leaders to grow revenue and client offerings,” said Steinberg.
Veteran CFO and partner, Angela Ortiz, will continue to oversee Besen’s family office operations.
Other recent additions to the firm include Stuart Rich, who will oversee the newly formed Retail & Hospitality Group with co-head Matt Mager; and Timothy Serignese to oversee residential sales & leasing.
Stuart Rich has a prolific legal and advisory background, having been a partner in the real estate practice at a prominent, mid-sized law firm in New York City and a founder of SIR Advisory, a consultancy focused on advising hospitality clients on various transactions and operational strategies. He will also be co-head of the distressed asset group, bringing many years of experience with troubled loans and assets to the team.
Timothy Serignese brings extensive experience in residential development marketing, having held senior roles at Douglas Elliman and The Marketing Directors.
In addition to these expanded roles, New York City Management (Besen’s property management arm) was approved by the New York State attorney general to manage the Croman Portfolio.
John Catalic, managing director of NYC Management, has been promoted within the division and will continue to spearhead operations for the group.
“In terms of investment sales, we are focused squarely on revenue and recruitment,” said Ron Cohen, chief sales officer and partner overseeing the division. “However, if a sale isn’t on the immediate horizon, we can assist owners in ways our competitors can’t.”
“Our new structure, including the acquisition of Targeted, the promotion of four Besen veterans, and the hiring of two new partners, rounds out our capabilities and fosters collaboration to better serve our clients. We see the value of being advisors first and foremost, hence the restructuring of Besen into a nine-person, diversified partnership. We are now in a position to serve the entirety of our clients’ real estate needs,” said Besen.
Founded in 1988, Besen Partners is a leading NYC-based real estate firm that provides real estate advisory, brokerage and management services. Bringing institutional quality real estate solutions to high-net-worth individuals, families, trusts, funds, foundations, and other private investors, Besen’s executive team has been instrumental in the direct purchase, financing, development, asset management and sale of over $5 billion in commercial property assets and has an impressive track record in partnering and co-investing equity with prestigious financial institutions and private investors. Besen’s brokerage division has been named a Top NYC Brokerage Sales Firm by CoStar Research for over 16 years. Its team has brokered the sale of over $7 billion in real estate transactions. NYC Management (Besen’s property management affiliate), has managed over four million s/f of commercial assets.