Page 12 - RE-NJ Nov.2021 #59
P. 12

10 NOVEMBER 2021
KUSHNER COS. TAPS MORALI AS
CEO, MEYER AS PRESIDENT
shifted to buying apartments in the Mid-Atlantic and Southeast and away from the types of high-profile deals in Manhattan that it pursued under Jared Kushner. Its current focus in New Jersey includes One Journal Square,
a massive mixed-use development in Jersey City that would include more than 1,700 apartments, which won final approval from the city’s planning board early this year after a lengthy delay and legal battle.
The firm also owns Pier Village in Long Branch and is spearheading
the final phase of development at
the acclaimed mixed-use project. Located between Ocean Boulevard and the Atlantic Ocean, the site spans 2,000 feet of beachfront property and includes 492 luxury apartments, 245 upscale condominiums and 91 hotel rooms, along with 170,000 square feet of shopping, dining and entertainment space.
Morali, a native of France, has closed several billion dollars’ worth of real estate transactions, from construction and development to acquisitions, financings and recapitalizations, according to his bio. Prior to Kushner, he spent 10 years working at Credit Lyonnais, focusing on complex debt capital market solutions for real estate
projects.
He obtained an MBA from Ecole Superieure de Commerce of Toulouse in France.
Meyer joined the firm after 10 years at Ralph Lauren, where she focused on the design and
development of
retail experiences
globally. She
holds a degree
in architecture
and urban design
from New York
University and a
master’s in urban
planning from its Robert F. Wagner Graduate School of Public Service, along with a commercial real estate certificate from Cornell University.
Jared Kushner, who is married to Ivanka Trump, the former president’s daughter, divested himself of all
his family-business management responsibilities and many of his owner stakes in properties when he joined the Trump administration, according to the Wall Street Journal. The story said that, after Trump left the White House, Kushner and Ivanka Trump moved to South Florida, with plans to launch a Miami-based investment firm named Affinity Partners.
Kushner Cos. has a new CEO and president after elevating two of its top executives to the roles.
The commercial real estate firm, which is based
subsequently the Trump administration.
“So much about our company is growth through adversity,” Meyer, Jared’s sister, told the Journal. “We have been putting our heads down and really moving.”
Morali joined Kushner in 2008 and has held several positions, starting with managing director of finance before transitioning to head of acquisitions and capital markets in 2011. The veteran real estate and finance executive was named president in 2016 before being named CEO this month.
For her part, Meyer spearheads deal sourcing, investor relations and execution of real estate development for the firm, according to her bio. She currently oversees a development pipeline of 12.9 million square feet of residential, commercial and industrial space, as well as a strategic national acquisitions expansion comprising thousands of multifamily units across 12 states.
The Wall Street Journal noted that Kushner’s work in recent years has
  Laurent Morali
the company’s president, a role that has been filled by Nicole Meyer, the daughter of Chairman and Founder Charles Kushner and a member of the organization since 2015.
The Wall Street Journal first reported the moves in a story on Oct. 19, noting that it marks the first time that Kushner Cos. has tapped a nonfamily member to lead the business. The story said
the CEO role has been essentially vacant since 2016, when Jared Kushner left the post to join Donald Trump’s presidential campaign and
in New York
but maintains deep ties to New Jersey, said that Laurent Morali has taken over as its chief executive. He was previously
Nicole Meyer
         INDUSTRIAL WAREHOUSE SPACE
SERVING NJ & PA SINCE 1938
SPECIALIZED
IN TILT-UP CONSTRUCTION
                                      JLL INKS SALE OF LUXURY APARTMENTS IN MEADOWLANDS
An investment manager has sold a 328-unit luxury apartment complex in Lyndhurst, in a newly announced transaction by JLL.
In a news release, the brokerage team said it represented Mesirow Institutional Real Estate Direct Investments in its disposition of The Union at Lyndhurst. The deal comes six years after the financial services firm purchased the property at 1301 Wall Street West, which boasts a location at the nexus of Route 17 and Route 3 and less than seven miles from the Lincoln Tunnel.
Pacific Urban Investors acquired the complex for an undisclosed sum.
“We had great interest on Union at Lyndhurst given
demand from the institutional investor universe for high-quality multi-housing in the New York area is accelerating going into the year end.”
Cruz brokered the sale in tandem
with Michael Oliver, JB Bruno, Kevin O’Hearn and Steve Simonelli of JLL’s Morristown-based capital markets team. They noted that The Union comprises studio, one-bedroom and two-bedroom units averaging 1,007 square feet, with high-end interior design and amenities such as courtyards, a dog park, a fitness center and a heated outdoor pool.
“The long-term fundamentals of the U.S. residential apartment sector remain attractive as a result of secular shifts in the economy,” said Alasdair Cripps, CEO of Mesirow Institutional Real Estate Direct Investments. “We are pleased with the performance
of The Union property within our portfolio since its acquisition in August 2015. Mesirow Institutional Real Estate Direct Investments remains opportunistic as both an acquirer and seller of high-quality multi-housing rental units across the U.S.” RE
 Jose Cruz
its location and quality,” JLL’s Jose Cruz said. “Investors liked the access to (New York City) specifically as well as the lack of multifamily
   rentals in the immediate area. The












































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