Prior to Coventry, Murphy served as global head of Real EstateInvestment Banking for Deutsche Bank, where he managed a team ofmore than 100 professionals in eight offices throughout the US,Europe, and Asia. Under his leadership, the team executed more than500 separate transactions on behalf of clients representing morethan $400 billion in total transaction volume. Significanttransactions included the sale of Hilton International Hotels in2005, and the Blackstone Group's acquisitions of Carr AmericaRealty in 2006, and Equity Office Properties and the Hilton HotelsCorporation in 2007.

|

Murphy tells GlobeSt.com that his responsibilities are threefold: to help raise capital; to identify investment opportunitiesto invest that capital; and to time when to monetize investments."Everybody wears a lot of hats," he says.

|

"We view the current environment as a very attractive one andour hope is that we see enough attractive investmentopportunities," Murphy tells GlobeSt.com. "Our hope is that I wouldbe able to help the firm raise more capital history to takeadvantage of the current investment climate, and that myrelationships and transactional experience will allow us toeffectively invest that capital and better identify appropriatetime to monetize investments."

|

Murphy began his real estate career at Morgan Stanley in 1986where he held several senior management positions during histenure, ultimately serving as the head of its US Real EstateInvestment Banking Business. While at Morgan Stanley, Murphy raisedin excess of $5 billion of equity capital for the firm's realestate private equity funds, as well as private capital for thirdparty clients. He also served as a member of the InvestmentCommittee of the Morgan Stanley Real Estate Funds from 1994 untilhis departure in 2004

|

Throughout his career Murphy advised on landmark transactions inthe retail real estate arena including the sale of May DepartmentStores' regional mall assets to a partnership of PrudentialInsurance and Simon Associates in 1988, and advising andimplementing the strategy for J.C. Penney Co. Inc. for its regionalmall assets in 1989. Other significant retail transactionsincluded: the initial public offerings of the Mills Corp. and SimonProperty Group in 1993 and DeBartolo Realty Corp. in 1994; themerger of DeBartolo Realty Corp. and Simon Property Group in 1996;the sale of the Rouse Co. to General Growth Properties in 2004; themerger of Westfield Holdings, Westfield America Trust, andWestfield Trust into Westfield Group in 2004; and, most recently,the acquisition of Wilmorite by Macerich in 2005.

|

Henkel, Coventry's founder, says that "I have known him since webegan our careers together at Morgan Stanley and know firsthand therange and depth of the real estate investment experience that Devinwill bring to Coventry. His proven track record while running thereal estate investment banking operations for some of the biggestfirms on Wall Street, coupled with his deep, long-standingrelationships throughout the industry is precisely what is requiredfor this role. Devin will be a tremendous asset to our firm andwill add substantially to our already strong team."

|

Murphy tells GlobeSt.com that he was attracted to Coventrybecause he wanted to go to a small private equity firm with astrong track record. "They have had a great success to date."Murphy notes that it was an added bonus to be able to work againwith Henkel, who he has "known and respected for years."

|

Since its inception in 1998, Coventry has acquired and developedmore than $2.5 billion of retail and mixed-use properties. The firmexecutes three primary transaction types: acquire existing assetsfor redevelopment; develop properties with JV partners; and acquireportfolios of stores from retailers. Recent transactions completedby Coventry across its investment strategies include: Valley FairMall in Salt Lake City; a $120-million mall redevelopment; HighStreet, a $105-million mixed-use development in Houston; and REXstores, an $80-million acquisition of a portfolio of stand-aloneretail stores from REX, a consumer electronics and appliancesretailer.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.