Fascitelli takes over Cadre’s investment committee

Former Vornado CEO assumes expanded role at Kushner-backed RE startup

TRD NEW YORK /
Jan.January 04, 2017 11:05 AM

Michael Fascitelli has taken over Cadre’s investment committee as its chair and senior adviser. The former Vornado Realty Trust CEO will now approve all deals and advise the management of the real estate finance startup, which is backed by Jared and Joshua Kushner.

Cadre, which has raised $68 million in venture funding, is an online real estate investment platform targeted to family office, pension funds and institutional investors. Cadre invests directly in real estate assets, only to pass its own investment on to its clients via the platform.

Fascitelli, who left Vornado in 2013, previously sat on Cadre’s investment committee, but will now assume an expanded role. He also runs development firm Imperial Companies, which partnered with Thor Equities last year to buy 71 sponsor units at the Apthorp on the Upper West Side for $112 million.

In July, the startup hired the former Starwood Capital Group executive Marcos Alvarado as its head of acquisitions.  Cadre’s investors include Joshua Kushner’s Thrive Capital, Alibaba founder Jack Ma and Goldman Sachs. [NYP]Konrad Putzier 


Related Articles

arrow_forward_ios
Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?

Jared Kushner and Jho Low (Credit: Getty Images)

Netflix’s “Dirty Money” delves into Jared Kushner, 1MDB scandal

From left: Amy Brandt and Dennis Gilmore

First American to buy Docutech for $350M

NestApple head broker Nicole Fishman, Localize.city president Stephen Kalifowitz, RentHop founder Lee Lin and RoomZoom founder Elien Becque

Broker-fee ban could boost some startups, doom others

House Canary CEO & co-founder Jeremy Sicklick (Credit: iStock)

Home-valuation startup closes $65M funding round

City Council Speaker Corey Johnson (Credit: Getty Images, iStock)

City Council wants more oversight of “ghost kitchens”

arrow_forward_ios
Loading...