Adam Popper is back in an executive role with a major commercial real estate company.
The former Columbia Property Trust executive has a new role with Joe Sitt’s Thor Equities as its vice president of acquisitions. Popper started in the role on Monday, according to the Commercial Observer.
Popper’s charge is to expand the developer’s presence in both industrial and life science properties, two booming sectors. He most recently founded 20 Bridges Realty Partners, where he was a managing principal for almost four years.
Prior to that, Popper was in charge of investments and asset management in the eastern U.S. for Columbia Property Trust, which he joined in February 2016. During the fourth-quarter earnings call two years later, it was revealed Popper was gone, though the reason for his departure was unclear.
Before Columbia, Popper was the managing principal at Westbrook Partners and the director of U.S. office acquisitions at Vornado Realty Trust. Popper also had previous stints at Beacon Capital Partners and Tishman Speyer.
Thor counts 227 properties among its investments, according to its website portfolio. The Real Deal reported in April the company paid $30 million for a 200,000-square-foot warehouse near the Port of Los Angeles marking its entry into the Southern California industrial market.
Thor chairman Joe Sitt said at the time the company anticipated “profound growth in the resilient industrial sector.”
Earlier in the year, Thor dumped a logistics portfolio in the United Kingdom for about $415 million, which was about $85 million more than what the company paid fewer than two years earlier. The portfolio included seven warehouses.
Shortly afterwards, Thor scored $76 million in construction financing and a $155 million joint venture equity recapitalization for a warehouse property on Richards Street in Red Hook, Brooklyn. The warehouse is already 100 pre-leased to Amazon, which signed a 20-year deal with Thor for 311,796 square feet in space.
[CO] — Holden Walter-Warner