Beacon Capital Taps Adam Popper to Head NYC Office

Randy Parker, senior managing director of Beacon Capital, says the firm will be opening a New York City office in the near future. Popper, who was chief investment officer for Heyman Properties of Westport, CT for the past 13 months, joins Beacon as a managing director effective Monday, Feb. 21. Popper, 39, assisted Heyman in the purchase of three office buildings totaling approximately 1.5 million sf of office space during his tenure there. In December 2004, Heyman acquired White Plains Plaza, a twin-tower 712,000-sf office property in Downtown White Plains, NY from MetLife in a deal valued at $60 million.

Previously, Popper was a managing director for Tishman Speyer for six years and prior to that he was a vice president for the Witkoff Group. In his career, Popper has been involved in the acquisition of approximately $2 billion of office assets, predominantly in the New York metro area.

Beacon's Parker says the underlying reason for opening a New York City office was because of the firm's continued lack of success in acquiring office assets in the New York area. "We needed someone on the ground," he notes. "We did a search in New York and identified Adam as the most qualified candidate."

Commenting on his new position with Beacon Capital, Popper says Beacon has already identified a number of properties in the New York Tri-State area that it is currently studying for possible acquisition. Since being established in 1998 following the merger of its predecessor company Beacon Properties Corp. and Equity Office Properties Trust, it has sponsored four investment funds representing approximately $2.5 billion of aggregate equity capital. Its most recent fund, Beacon Capital Partners III, is the largest office private equity fund in the US with $1 billion of committed equity capital. The firm, which lists its target markets a Boston, Washington DC, New York, Los Angeles, San Francisco, Seattle, Denver and Chicago, also operates a regional office in Los Angeles.