New York City office developer KPG Funds has brought on board Joshua Bankhead as senior controller, Commercial Observer has learned.
The 15-year veteran of finance, development and asset management in real estate and will help the firm manage the building and renting over over $1 billion of office and retail assets in the five boroughs. Bankheadwill answer to the firm’s chief financial officer.
“I’m convinced that Joshua is going to make a valuable and positive impact on our company to help guide it through this accelerated growth period to further maturity,” Steve Smith, KPG’s CFO, said in a statement. “His background is a perfect fit to deliver the best-in-class institutional development and asset management experience that our investors have been accustomed to receiving.”
Bankhead formerly served as an executive for Blackstone Group, where he was a fund accounting manager overseeing a monthly net asset value of $4 billion, and Monday Properties, where he was a real estate development controller. Prior to that he was an accounting consultant for the Rockefeller Group, specifically overseeing a commercial real estate development in Ft. Lauderdale, Fla. and an industrial project in South Carolina.
Blackstone did not immediately respond to a request for comment.
“Joshua will strengthen our executive team,” Greg Kraut, CEO of KPG, said in a statement. “We are fortunate to bring on someone with over 15 years of real estate experience who has been a true leader in the NYC real estate community.”
Bankhead officially begins work at KPG on Tuesday.
KPG has been raising its headcount in the expectation that commercial real estate in New York City is about to make a rapid return to normalcy as the COVID-19 becomes an ever-present but less threatening aspect of life, according to KPG.
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