ASB Real Estate Hires JBG’s Dean Cinkala as COO
Dean Cinkala, a former partner and managing member at JBG Companies, has joined ASB Real Estate Investments as its new chief operating officer, according to the firm.
In his new position, the 34-year industry vet will co-head the company’s capital investments group alongside David Quigley, the firm’s chief investment officer. Additionally, Cinkala will be in charge of investor reporting, accounting and human resources.
“I am excited because it’s an opportunity to step into a senior leadership role in an excellent organization with a long track record of success,” Cinkala told Commercial Observer. “It’s also an exciting opportunity to work on assets in other dynamic real estate markets outside of D.C., where I have spent the majority of my career.”
In his previous role at JBG, where he worked for 15 years, Cinkala was charged with the firm’s mixed-use development projects, which totaled multiple millions of square feet of office and retail space, plus residential and hotel units. Among the notable developments were 300 New Jersey Avenue, a 450,000-square-foot office building in D.C.; Central Place, a 500,000-square-foot property in Rosslyn, Va.; and the L’Enfant Plaza retail pavilion in D.C.
“Given recent considerable growth of ASB and our expanding portfolio to more than $8 billion in total assets under management, we are bringing on Dean to provide more senior level tactical firepower,” Robert Bellinger, president and CEO of ASB said in prepared remarks. The move will allow Bellinger to focus more on the strategic portfolio positioning for the core Allegiance Real Estate Fund and the Meridian series of value-add funds.
In the past six years, ASB’s Allegiance Fund has increased from 172 properties to 229 properties, representing a rise from 12.2 million square feet to 14.7 million square feet. D.C. is just one of many markets that ASB invests in, yet it’s a market that the firm believes is poised for great activity in 2020.
“As a market, D.C. has continued to see significant investment and development activity, with a particular focus in the multifamily asset class,” Cinkala said. “The path of investment and development continues to move into the Northeast and Southeast/Southwest emerging markets.”
Additionally, he noted, the Amazon (AMZN) HQ2 selection of the National Landing site has also driven significant investment and development activity in those surroundings markets.