The Related Companies has hired John Jacobsson, a managing partner and veteran of AREA Property Partners, as an executive vice president, the company told The Real Deal today. In the newly-created position, Jacobsson will pursue new business and raise money both domestically and internationally, especially from large institutional players, he said.
Related’s international business is growing as quickly as it ever has, Jacobsson added, and in his new role he will “build relationships with equity investors who can help fuel that growth.”
While he will pursue opportunities across Related’s business, in particular he will aid in the company’s push to become more active in the buying of high yield debt, he said. “That’s something where I have experience,” he said.
Jacobsson began work today.
Prior to joining Related, Jacobsson oversaw AREA’s opportunity funds in North America. He joined the firm, formerly known as Apollo Real Estate Advisors, in 1995, he said.
Before his position with AREA, Jacobsson worked on acquisitions for commercial brokerage Trammel Crow in Dallas.
“Jake has been a friend and business partner of Related for over twenty years, and we are pleased to welcome him,” Related CEO Jeff Blau said in a statement to TRD. “Related’s vertical integration, talented team of executives and employees and access to capital offers nearly unlimited potential for growth.”
Related is in the midst of building the Far West Side’s Hudson Yards — the largest private real estate development in the history of New York City. The $15 billion project will add as much office space inventory as currently exists in all of Portland, Ore., according to reports.