Winshall and Grant form ClearRock Properties

In response to the current dislocation in the real estate market, long-time industry leaders Steve Grant and Doug Winshall have formed ClearRock Properties, a real estate investment, development and operating company focused on office properties in the Northeast. ClearRock Properties plans to acquire and manage value-added office assets on behalf of institutional funds and high-net-worth individuals. In addition, the company will provide independent advisory and asset management services to owners, lenders and managers. "The combination of diminished leasing activity and a lack of financing have created a fragile and uncertain commercial real estate market," said Winshall. "Lower valuations and expiring debt obligations will require owners and lenders to sell or recapitalize assets. Given the market situation, there will be an accelerating pace of attractively priced deals over the next several years." "Our deals will be structured to ensure that ClearRock's interests are aligned with our financial partners," said Grant. "Our mission is to provide excellent risk-adjusted returns to our investors by wisely choosing investments and providing unmatched operating services. The cyclical nature of real estate markets makes it an ideal time to pursue our strategy." Through their 20-plus years in the real estate industry, ClearRock's principals have extensive experience in acquisitions, leasing, asset management, development, property management, and accounting/reporting. Grant and Winshall first partnered in 1997 to establish and lead Trizec Properties' New York office, where they quickly grew the portfolio to more than 8 million square feet, including trophy assets such as the Grace Building and 1 New York Plaza. From that start, Winshall's leadership role at Trizec expanded to include the entire Northeast region totaling more than 30 properties and 200 employees. Following the sale of Trizec in 2006, Winshall ran an acquisition and operating platform for Greenstreet Real Estate Partners and served as executive vice president at Taconic Investment Partners. From 1999 to 2009, Grant was a managing director at Tishman Speyer Properties, where, at various times, he headed worldwide leasing and property management, and was involved with numerous acquisitions and developments as well as the Equity Capital Markets team. "Our new partnership will build upon our close working relationship and depth of experience in the real estate ownership business," said Grant. ClearRock Properties is a real estate investment, development and operating company focused on office properties in New York, Washington, and Boston. Long-time industry executives Steve Grant and Doug Winshall lead ClearRock Properties, each bringing 20-plus years of experience in acquisitions, leasing, asset management, development, property management and accounting/reporting.