|By PR Newswire||
|January 3, 2013 12:32 PM EST||
SAN ANTONIO, Jan. 3, 2013 /PRNewswire/ -- USAA Real Estate Co. is pleased to welcome Thomas V. Bermingham as managing director of investments, overseeing acquisition, development and joint venture opportunities for USAA Real Estate Co.'s newly opened Northeast regional office, located in New York City. In his role, Bermingham will work with USAA's investment management team to refine asset strategy in key northeast markets including New York, New Jersey, Connecticut and Boston.
Bermingham's 30-plus years in the commercial real estate industry include 11 years as executive managing director for Insignia Financial Group, later acquired by CB Richard Ellis, overseeing the firm's New Jersey branch before directing all international corporate services between the U.S. and Europe from London. Most recently, he served as senior vice president of Patrinely Group, an affiliate of Crimson Real Estate Fund LP (CREF), leading its acquisition team and supervising development in the Northeast region. CREF is a real estate opportunity fund in which USAA Real Estate Co. is a significant investor.
"Tom has been a valuable source of business for USAA through his experience and knowledge of Northeast markets," says USAA Real Estate Co. CEO, Pat Duncan. "We believe he will add tremendous value to our organization in the coming years."
Bruce Petersen, executive managing director, Real Estate Investments added, "Tom will be a strong addition to our acquisition team, and the opening of an office in the New York metropolitan area will increase our investment activity both there and in New England."
USAA Real Estate Co., with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Co. is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
SOURCE USAA Real Estate Co.