Jeff Johnson, former CIO and chairman of the investmentcommittee for EOP, is taking the lead in the new company asmanaging principal, bringing together five former colleagues.Jointly between 2003 and 2007, the Reunion team completed more than$8.3 billion of dispositions and $4.2 billion of acquisitions.

"We have a unique opportunity to use our expertise as avalue-oriented investor to help solve the needs of both owners andlenders in today's environment," Johnson says. "From 2002 through2007, excessive liquidity caused prices to rise and transactionvolume to increase -- with little regard to intrinsic value.All-cash values have fallen over 30 percent since the 2007 peak,causing an extraordinary amount of loan defaults, workouts,involuntary owners, and undercapitalized projects."

The new team includes Matthew Gworek, former SVP of asset andportfolio management; Sandra Deets, former SVP of due diligence;Megan McCann Kelleher, former co-head of dispositions and head ofSoutheast acquisitions; Michele Davis, former head of duediligence; and Brooke Kenevan; former attorney and member of theinvestment group.