BBX Logistics Properties, a division of BBX Capital Real Estate, announced the formation of a new Advisory Committee with founding members Eugene “Gene” Preston, Michael Nachamkin, and Joseph Yiu.
The committee will assist in shaping the company’s strategy and direction, provide market guidance and expertise, review investment opportunities, and offer important perspectives and feedback.
“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.”
Mark Levy, President of BBX Logistics Properties, added, “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. We are honored to have them serve on our Advisory Committee.”
Gene Preston has developed and acquired approximately 28 million sq. ft. of industrial and logistics space representing approximately $2 billion of invested capital. He recently retired as a partner of Dermody Properties, where he was responsible for the company’s land and building acquisitions, build-to-suit projects, development activities, and asset management in the northeastern part of the United States. He has also held senior management positions at Prologis, Higgins Development Partners, and Rockefeller Group Development Corporation. 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.
Michael Nachamkin has spent four decades in the industrial real estate sector. He started his career in 1983 as a leasing and sales broker specializing in industrial real estate at Cushman & Wakefield. He has held several significant roles, including serving as Prologis Region Director for the Northeast and Canada and bringing Security Capital Industrial Trust to the New York Metropolitan/Pennsylvania area prior to it becoming Prologis. Nachamkin has also served as President of Whitehall Industrial Properties, which he co-founded with Goldman Sachs & Co. Real Estate Group, as well as Oakmont Industrial Properties, NE, HFF Capital Markets, and most recently as Managing Partner for Metrix Real Estate Services, a Princeton, New Jersey-based investment and industrial development platform he started in 2017.
Joseph Yiu has made a significant impact on the net lease sector during his 22-year career. He has acquired and financed over $10 billion and 47 million sq. ft. in the NNN sector across various asset classes, including industrial, healthcare, retail, and office. In 2003, at the age of 25, Yiu co-founded The Norseman Group, which provides structured net lease financing solutions through a mezzanine loan. In 2009, as CIO of ECM Realty Trust, Yiu rolled up several funds in a REIT IPO that resulted in a successful disposition to the largest NNN REIT, Realty Income, based in San Diego. After the recession in 2011, Yiu filled the void in construction financing by entering the niche market and launching ElmTree Funds LLC, providing construction and take-out financing as Managing Principal and CIO.
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.