Bass, Green Street Execs Launch REIT Fund

Fosheim and Herold will serve as CEO and COO, respectively, of the new firm, which is called Oak Hill REIT Management LLC. The two were both with Green Street until relatively recently. Their partner in the new fund, Oak Hill, was a client of theirs at Green Street. Fosheim says that for some time he and Herold "have been looking for the next great opportunity and the right partner," and Oak Hill is that partner.

Green Street Advisors Inc. is an independent research and consulting firm that focuses on publicly traded real estate securities. Fosheim was a co-founder of the firm in 1985 and co-CEO of Green Street Advisors. Herold joined Green Street in 1999 and was the senior analyst responsible for strip retail and manufactured housing REITs. The Bass-sponsored partnership is one of a series of Oak Hill partnerships, which in aggregate manage more than $10 billion of assets, including private equity and hedge funds, high-yield and distressed bond funds, public equity funds and real estate funds. No other former colleagues of Green Street Advisors will be investing in Oak Hill REIT Management or any of its funds, Fosheim says.