Related Companies, one of the nation's leading private real estate development firms, today announced that Curt R. Bailey will join Related Midwest as President beginning May 12, 2008. Bailey will oversee current development as well as the pursuit of new business opportunities.
Jeff T. Blau, President of Related Companies, said, "I am proud of the fully integrated team of professionals we have assembled that offer the ability to influence every aspect of the real estate business. Whether we're pursuing luxury residential development, residential sales, mixed-use development, retail development, affordable housing, property management or finance, we execute each development with a commitment to excellence that is unmatched in the industry. Curt's nearly two decades of real estate experience across several asset classes combined with his management experience makes Curt a great addition to our team and leader for Related Midwest as we continue to grow and diversify."
Curt R. Bailey said, "I am proud to join Related Companies in this key role. Related Midwest has a tremendous reputation creating market-defining developments and I look forward to continuing that tradition and expanding into new markets and new segments."
Bailey has nearly 20 years of senior real estate experience having held executive positions at Archon Group, a Goldman Sachs Company, and Opus North Corporation. Most recently, Bailey was a Senior Vice President at Duke Realty Corporation where he oversaw nearly a billion in projects under development nationally and sourced new deals. Mr. Bailey holds a BA from the University of Colorado, Boulder and is a member of the Urban Land Institute, National Association of Industrial and Office Properties and the International Council of Shopping Centers.
Related Midwest is a progressive leader in the development of award-winning real estate properties and the preservation of landmark buildings, known for their unparalleled quality, innovation, beauty, architectural significance and enduring value to the communities they enrich. Recognized for such iconic luxury residential buildings as Park Tower at 800 N. Michigan Avenue, The Residences on Lake Shore Park at Pearson Street and Lake Shore Drive and 340 on the Park at 340 East Randolph Street, Related Midwest is also one of the largest builders of affordable housing in the Midwest having developed such projects as Roosevelt Square on the near west side of Chicago, Riverwest in Peoria and Madison Park Place in Springfield.
Related Midwest is also an industry leader in sustainable development having built the Midwest's first green residential tower, 340 on the Park. In 2007, Related announced a $1.4 billion equity and debt investment by Goldman Sachs, MSD Capital and three international investors including an affiliate of Mubadala Development Company and Olayan Group. In addition to the corporate investment, each investor will co-invest in future development opportunities undertaken by Related. To date, Related has real estate assets worth over $15 billion and over $9 billion in the pipeline including marquee mixed-use developments across the country.