New York City developer Larry A. Silverstein today announced the appointment of Martin S. Burger as Co-Chief Executive Officer of Silverstein Properties, Inc. The appointment is an extension of the Silverstein organization's ongoing expansion beyond its New York City base.
In making the announcement, Mr. Silverstein, who serves as President and CEO said: "I am thrilled that Marty will lead our continued effort to finance new development projects, acquire new properties and form new joint ventures around the globe. Over the past two years, Marty has worked closely with our entire management team to expand our business at home and overseas. Thanks in large part to his efforts, we now have projects underway in Florida, Eastern Europe and China. This is a very exciting time for our company and for me personally."
Mr. Burger most recently led the effort to secure financing for the company's latest development project, the Four Seasons Resort Orlando at Walt Disney World Resort, which is set to open in 2014. Construction on the $364 million, 444-room luxury resort will start on December 15, 2011.
Mr. Burger said, "Under Larry's leadership over the past 55 years, Silverstein Properties has grown to become a pre-eminent real estate development organization with incredible brand recognition and unlimited possibilities. I am very excited to continue my work with Larry and our team as we use this platform to launch even bigger and more exciting projects throughout the world."
In his role, Mr. Burger will also lead the company's efforts to develop projects in China. In January 2011, Silverstein Properties established a joint venture with China Bridge Capital and the state-owned Jiangbeizui Central Business District Investment and Development Co. Ltd.
The company also recently expanded into Europe. In 2010, Silverstein Properties established a joint venture with Kulczyk Real Estate Holding to develop and acquire office, retail and mixed-use properties throughout Central and Eastern Europe. Kulczyk Silverstein Properties (KSP) is a privately held, international real estate development, investment and management firm based in Warsaw. Earlier this year, the Joint Venture purchased its first commercial office building, the Stratos Office Center in Warsaw.
"Marty is one of the smartest, most creative and personable guys I know," said Mickey Kupperman, Chief Operating Officer of Silverstein Properties. "He has a large network of contacts in the industry and many of those people consider him a friend. He's a great fit with the culture of the Silverstein organization."
Over the past five years, Mr. Kupperman has led a reorganization of the company, appointing Jon Knipe to the position of General Counsel in February 2010; bringing in Robbin Orbison as Chief Financial Officer in May 2010; establishing an asset management team under Jack Brundige in June 2010; hiring Sandy Jacolow as Chief Information Officer in January 2011; and appointing Tal Kerret in April 2011 as Senior Vice President with responsibility for new ventures.
The company has grown from 120 employees in 2006 to 230 employees today. Earlier this month, Silverstein Properties was named one of Crain's Best Places to Work in New York City for the fourth year in a row.
Mr. Silverstein will continue to oversee the historic redevelopment of the World Trade Center along with Word Trade Center Properties President Janno Lieber. Mr. Lieber manages all aspects of the Silverstein organization's efforts to rebuild at the World Trade Center site. Today, 4 World Trade Center is up to the 58th of 72 stories, and 2 and 3 World Trade Center are under construction and above street level.
Both Roger Silverstein and Lisa Silverstein welcomed the appointment. "Marty is a terrific guy and a pleasure to work with," they said. "He has a blue chip resume and a strong background as a real estate entrepreneur. We both look forward to very exciting times ahead for our company under Marty's leadership."
As Executive Vice President, Roger Silverstein is responsible for leasing all of the firm's commercial properties including the World Trade Center. Lisa Silverstein is a Senior Vice President of Silverstein Properties, and oversees the firm's residential real estate portfolio of 2,280 apartments. Last year, Silverstein Properties completed and opened Silver Towers, the second of two apartment buildings on West 42nd Street.
Mr. Burger joined Silverstein Properties in February 2010, with a proven track record and many successes in real estate development, investment, management, sales and leasing. Prior to joining the company, Mr. Burger was the President and Chief Executive Officer of Artisan Real Estate Ventures, a company he founded in 2006. Prior to that, Mr. Burger was the President of Related Las Vegas and Executive Vice President of The Related Companies, L.P. Mr. Burger has also worked as a Vice President at The Blackstone Group and also for Goldman Sachs' Whitehall Real Estate funds.
During his 15 years at Related, Mr. Burger - who also served a Principal and the Chief Investment Officer for Related Urban Development (mixed use division), Related Lodging Group (hotel division) and Related Experiences (sponsorship division) - led all of Related's efforts in the City of Las Vegas and Clark County, Nevada. Mr. Burger opened the Related Las Vegas office in 2004, after opening Related's office in Washington, D.C. in 2003.
From 1994 to 1997, Mr. Burger was a Vice President at The Blackstone Group working on acquisitions for its two real estate opportunity funds. From 1993 to 1994, Mr. Burger worked for Goldman Sachs' Whitehall Real Estate funds also on the acquisition side.
Mr. Burger received a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania. He is a member of the Urban Land Institute and the International Council of Shopping Centers.