Former Thor Equities acquisition executives Alan Klein and Jonathan Fishman are launching their own multifamily investment firm called Weaver Street Partners in partnership with Silverpeak Real Estate Partners, they told The Real Deal.
Klein and Fishman left Thor in March after more than three years running a residential division they launched. Instead of joining Silverpeak outright, as TRD reported earlier this year, the duo struck a partnership in which the firm will provide equity backing for their multifamily acquisitions.
Klein said he will focus on sourcing and negotiating multifamily deals in New York City, with Fishman overseeing the properties’ management.
The name Weaver Street Partners is a reference to a street in Scarsdale, where they both grew up, as well as to birds that make “intricate nests,” Klein said.
Klein and Fishman said they led about $982 million in multifamily acquisitions and repositionings at Thor, including a $112 million purchase last year of a block of sponsor units at the Apthorp on the Upper West Side in partnership with Michael Fascitelli’s Imperial Companies. One of their last deals, however, remains in flux. Thor is trying out of a hard contract to pay $42.5 million for a large Bronx rental building.
Prior to Thor, Klein and Fishman spent more than 10 years handling acquisitions at Ofer Yardeni’s Stonehenge Partners.
Silverpeak, a Midtown-based investment firm founded by former Lehman Brothers executives in 2010, has acquired properties worth a combined $9 billion nationally and also has offices in Atlanta and London. Last year, Silverpeak and partners bought the Garland Center, a 733,000-square-foot office complex, in Los Angeles for $210 million.