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Joe Shanley leaves SL Green to run Haven Capital

One Vanderbilt (Credit: SL Green)

Joe Shanley has left his role as VP at SL Green Realty to run a new investment company focused on ground leases. Haven Capital is a joint venture of Regis Group and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation, CO reported.

  • Dig Deeper: The new venture is armed with an initial $1 billion to seek out and capitalize ground lease opportunities across every real estate asset class at a $20 million minimum transaction size.
  • Heard on the Street: Joe Shanley: “The formation of Haven Capital marks the entry of well-established institutional investors into what we believe is a largely untapped sector for commercial property investment. Ground leases are an underutilized tool that provides an alternative source of capital for both existing assets and ground-up developments.” [CO+REW]

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