"We see Jeff Gronning as an important addition to our team," says David Welsh, managing principal and co-founder of Normandy. The latter firm was co-founded by Welsh and Finn Wentworth, both formerly of Gale & Wentworth, and Wentworth was also formerly president of the YankeeNets organization. In the two-and-a-half years since Normandy was founded, the firm has been an aggressive dealmaker in metro New York's suburban marketplace, putting together a portfolio in the $700 million range.

With MS, Gronning oversaw financing executions and the financial and administrative operations of a $13 billion asset portfolio serving more than 100 clients. He also directed the Morgan Stanley Real Estate Fund's global acquisition program and was involved in raising more than $2.8 billion of capital commitments for Morgan Stanley Real Estate Fund IV. For its part, Normandy's agenda is to continue to pursue opportunistic property investments in the Northeast corridor from Boston to Washington, DC, according to Welsh.