Fascitelli takes over Cadre’s investment committee

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

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
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
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?
What will proptech look like in 2019 and beyond?
Matterport CEO RJ Pittman (Getty)
Real estate VR tech firm Matterport to go public via SPAC
Real estate VR tech firm Matterport to go public via SPAC
Jared Kushner and Ivanka Trump with Arte Surfside (Getty, Arte)
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
The Real Deal's E.B. Solomont
Compass investors in line for payday, $100M for a flex-living startup
Compass investors in line for payday, $100M for a flex-living startup
The Real Deal's E.B. Solomont
Who made bank in Opendoor’s IPO? $100M for a visitor logbook firm Inbox
Who made bank in Opendoor’s IPO? $100M for a visitor logbook firm Inbox
Amazon CEO Jeff Bezos (Getty; iStock)
Amazon to put $2B into affordable housing
Amazon to put $2B into affordable housing
arrow_forward_ios

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

Loading...