Insignia forms new division

Real Estate Weekly, August 14, 2002

In a strategic move to enhance the real estate finance capabilities of its Capital Advisors Group, Insignia/ESG has launched a separate division called the Finance & Capital Markets Group. Newly promoted executive managing director Paul C. Dougherty, based in Insignia! ESG's Washington, D.C. office, will spearhead the new initiative as the group's national director.

The new group will raise capital for institutions, real estate investment trusts (REITs), real estate operating companies (REOCs) and private investors. This will be achieved by initiating, negotiating and structuring joint ventures for public and private companies, and by raising equity and debt capital for clients through private offerings. Insignia is already providing these services to clients in New York, Washington, and major West Coast markets.

"The synergies that are generated through the efforts of Insignia! ESG's Finance & Capital Markets Group professionals, when combined with Insignia's Capital Advisors Group, which specializes in the sale of office, multifamily, retail, hospitality, and industrial properties, will provide our professionals extensive and unmatched internal and external reach," said Dougherty. "Our success will be further augmented by cross marketing opportunities with our leasing, property management, facilities management and consulting divisions located in more than 50 United States markets. Over the next two years, we plan to increase the size of the Finance & Capital Markets Group through strategic acquisitions of personnel and companies as well as internal growth."

Dougherty's immediate responsibilities will be to oversee and grow Insignia! ESG's financing activities across the country, to recruit additional professionals for this specialty, to seek new business opportunities, and to expand the firm's influence among lenders, developers and investors.

"We are very pleased to launch this new finance division which will greatly enhance the wide array of services we already offer clients," said Ron Uretta, president and chief operating officer of Insignia/ESG, "Paul has over 15 years of experience in this specialty. We are confident he is the right person to head up, rollout and grow the Finance & Capital Markets Group throughout the U.S."

Formerly a senior managing director of Insignia's Capital Advisors Group, Dougherty specializes in the structuring and placement of joint venture equity and debt financing for investment-grade, income-producing properties. He has been engaged in all aspects of real estate capital markets in the Washington D.C. metropolitan area since 1988. During his commercial real estate career, Dougherty has arranged over $4 billion in equity, and debt placements. Clients include regional and national real estate developers and institutional investors, national publicly-traded real estate companies, private real estate operating companies as well as individual investors.