Balazs carves out new position

New York /
Oct.October 23, 2008 04:17 PM

In an effort to best position itself in the economic downturn, André Balazs Properties has hired Glyn Aeppel to fill the newly-created position of chief investment officer, the company announced today.

“We think that there are a number of very unique opportunities right now in our business … both on the development and on the operations side” as a result of the economic downturn, said hotelier and company head André Balazs. “We wanted to take advantage of these opportunities, and felt that she would help us do that.”

Balazs said the company is now particularly interested in potential projects overseas, but said it was “premature” to discuss any specifics.

Aeppel, who joined André Balazs Properties last Wednesday and who was previously executive vice president for acquisitions and development at Loews Hotels, will focus on acquisitions, fund management, and management contract negotiations, Balazs said. Aeppel has worked at other hotel companies Fairmont Hotels & Resorts, Le Meridien, Marriott Corporation, and other firms.

André Balazs Properties has a few local developments in progress. Residents are slated to move into William Beaver House in the Financial District in late November, and the Standard Hotel in the Meatpacking District should be completed in spring 2009.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Eli Elefant and 452 5th Avenue (IAVA, Property Building Corp)
PBC nears $385M loan for HSBC tower after sale to Innovo collapses
PBC nears $385M loan for HSBC tower after sale to Innovo collapses
Health insurer takes 70k sf for HQ in Vornado’s One Penn Plaza
Health insurer takes 70k sf for HQ in Vornado’s One Penn Plaza
Health insurer takes 70k sf for HQ in Vornado’s One Penn Plaza
Molly Ringwald and Alexi Lubomirski (Getty Images, Credit Cristina Cote of The Cote Team)
Molly Ringwald’s former East Village townhouse lists for $9.2 million
Molly Ringwald’s former East Village townhouse lists for $9.2 million
Hudson Meridian Construction Group founder Bill Cote and a rendering of the Science Park Apartments planned at 201 Munson in New Haven (Hudson Meridian Construction Group)
Breakthrough for beleaguered New Haven project
Breakthrough for beleaguered New Haven project
27 Vandam Street, Hudson Square (Compass, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Hudson Square townhouse in contract at $15M could break area record
Hudson Square townhouse in contract at $15M could break area record
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...