Gene Preston
By Joshua Burd
Gene Preston, the former Dermody Properties executive and NAIOP New Jersey president, has joined the advisory committee of a Fort Lauderdale, Florida-based industrial developer.
BBX Logistics Properties, a division of BBX Capital Real Estate, announced Friday that Preston is among three founding members of the committee who will assist in shaping the firm’s strategy and direction, provide market guidance and expertise, review investment opportunities and offer important perspectives and feedback. He joins the group alongside Michael Nachamkin of Princeton-based Metrix Real Estate Services and Joseph Yiu of Structured Finance.
“BBX Capital Real Estate is committed to the long-term growth of BBX Logistics Properties,” said Seth M. Wise, president of BBX Capital Real Estate. “The appointment of these seasoned and highly accomplished professionals will further and accelerate this important goal.”
Preston retired in 2021 as east region partner for Dermody, a prominent builder of warehouse and logistics properties nationally. BBX noted that he has developed and acquired roughly 28 million square feet of industrial space representing some $2 billion of invested capital.
He has also held senior management positions at Prologis, Higgins Development Partners and Rockefeller Group, according to a news release. He began his real estate career with Merrill Lynch Hubbard Inc. in New York City, underwriting real estate-backed securities and acquiring commercial and multifamily properties.
“The advisory committee was formed to leverage the combined experiences of Gene, Michael and Joe, who I have known for many years and who all maintain significant industry knowledge and tenure,” said Mark Levy, president of BBX Logistics Properties. “We are honored to have them serve on our advisory committee.”