Andreas Vlahakis Leaving Thor Equities for Gilbane Development

Andreas Vlahakis has taken on a new role as head of capital markets for Gilbane Development.

Vlahakis took his decade and a half of experience to Gilbane after a five-year stint as global head of capital markets at Joe Sitt’s Thor Equities, Gilbane announced Monday. Vlahakis will report directly to President and CEO James Patchett.

“Andreas’s appointment reflects our commitment to building the infrastructure needed to support our next phase of growth,” Patchett said in a statement. “His long-term industry relationships and his deep experience raising and structuring capital will be invaluable as we continue to expand our pipeline and pursue new opportunities.”

Vlahakis started the new role in March managing the firm’s approach to transaction structuring and negotiations and is expected to hone its funding strategy, according to Gilbane.

“Gilbane has a strong foundation and an ambitious vision for the future, and I’m proud to bring my experience to help fuel their growth,” Vlahakis said in a statement.

Vlahakis started his real estate career at Coldwell Banker in 2012, where he was hired as a senior analyst out of Brentwood, Calif., before moving on to Berkshire Hathaway, the Luzzatto Company, and then US Property Trust and Glazer Family Holdings, according to his LinkedIn profile.

It’s unclear who previously held this post or if this is a new role created for Vlahakis.

Patchett was appointed to the role of CEO in February 2025, and had previously served as head of the New York City Economic Development Corporation under then-Mayor Bill de Blasio.

Mark Hallum can be reached at mhallum@commercialobserver.com.