LNR Property LLC has named Tobin Cobb and Justin Kennedy co-CEOs. Cobb, a 22-year Wall Street veteran with commercial real estate capital, will be in charge of managing the existing LNR Property businesses. Kennedy, a 24-year veteran of Wall Street and the real estate development business, will be responsible for the company's strategic direction, current investment activities and its newly announced investment management platform.
The platform will focus on investing in the areas of LNR's core competence within the commercial real estate debt space and will be capitalized with $200 million from the company's equity sponsors.Â
Prior to joining LNR Property, Kennedy worked at Deutsche Bank (DB), where he was a managing director and global head of real estate capital markets. As a founding member of DB's global commercial real estate business in 1998, Kennedy led trading, structuring, syndication and risk management for the business. Prior to DB, Kennedy was vice president and head of commercial mortgage-backed securities trading at Goldman Sachs.
Cobb also worked at DB before joining LNR Property. While at DB, he most recently served as managing director on special assignment to the office of the CEO of DB Americas, focusing on the Emergency Economic Stabilization Act of 2008. Immediately prior to this assignment, Cobb was co-head of DB's U.S. commercial real estate business.
SOURCE: LNR Property LLC