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
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
909 Third Avenue and Vornado's Steven Roth (Google Maps, VNO)
601W sells dirt under Vornado’s 909 Third Ave for $192M
601W sells dirt under Vornado’s 909 Third Ave for $192M
9 Prospect Park West and 2 Northside Piers in Williamsburg (Photos via Google Maps and 2 Northside Piers/Facebook)
A Park Slope co-op was one of the priciest deals inked last week
A Park Slope co-op was one of the priciest deals inked last week
The New Jersey campus (Getty, JLL)
H.I.G., Lincoln Equities land $76M loan for NJ life sciences campus
H.I.G., Lincoln Equities land $76M loan for NJ life sciences campus
Dianne Morales
WATCH: Dianne Morales on what progressives want from real estate
WATCH: Dianne Morales on what progressives want from real estate
42 Old Montauk Highway, Montauk
The unsellables: Even in a hot market, these Hamptons homes don’t move
The unsellables: Even in a hot market, these Hamptons homes don’t move
arrow_forward_ios

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

Loading...