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People - APRIL 21, 2016

UBS Asset Management makes appointments in real estate group

by Andrea Waitrovich

UBS Asset Management, Global Real Estate – U.S. has announced the retirement of Ron Urdanick and several additional employment changes.

Ron Urdanick is retiring from UBS Asset Management after serving as head of acquisitions for the UBS Asset Management U.S. real estate business since 2000. Urdanick has been with the firm and its predecessor organizations since 1978.Since becoming the head of acquisitions, Urdanick’s group has originated more than $20 billion in investments for over a dozen different funds and accounts managed by UBS Realty Investors LLC. He began his real estate career at Union Dime Savings Bank in New York City as a real estate lending officer. Before assuming his current position, he oversaw the acquisition of equity investments in the eastern third of the United States and was directly responsible for more than $4 billion in mortgage and equity investments.

Urdanick is succeeded by Jack Connelly, who has been promoted to head of acquisitions for the U.S. real estate business of UBS Asset Management. Connelly was the senior acquisition officer responsible for the Northeast and mid-Atlantic region, and was the primary driver behind the large and high-quality portfolio UBS had acquired in New York City. Promoted to managing director in 2015, Connelly began his career with UBS in 1996, and he also had served in portfolio management, product development and acquisition roles with Equitable Real Estate and Cornerstone Realty Advisors. Since the beginning of his career with UBS, Connelly has been responsible for more than $6 billion of total production.

In addition, Rod Chu has been promoted to managing director, senior acquisition officer for the West Region. Beginning his career with UBS Asset Management in 1996 as an asset manager, Chu spent three years with Morgan Stanley, serving as an asset manager and an acquisition officer before returning to UBS in 2004 as an acquisition officer, focusing on Southern California and Arizona. Chu has been the primary driver behind the large and high-quality portfolio UBS has assembled in Los Angeles, and he has been responsible for more than $3.5 billion of total transactions at UBS.

Bill Moreno has been promoted to managing director, senior acquisition officer for the Midwest while taking on Pennsylvania, New Jersey and New England as well. Moreno began his career in 1988 with Phoenix Realty Advisors, where he was engaged in mortgage lending, asset management and acquisitions. Moreno joined the firm in 1998 as an acquisition officer and has originated approximately $4 billion of real estate investments. Moreno has been the primary driver behind the large portfolio UBS has developed in Chicago as well as substantial increases in the Dallas and Houston portfolios.

Mike Mistretta also will take on additional responsibility, continuing to be the region head for the Southeast while taking on the greater Washington, D.C., market. Beginning his career with Connecticut General Insurance in 1979, Mistretta joined the firm’s predecessor organization originating construction and mortgage loans in 1981 before he joined the firm’s acquisitions group in 1984. During his career with UBS, Mistretta has originated almost $4 billion in transactions and has been the primary driver behind the large portfolios managed by UBS in Florida and Atlanta.

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