Ethan Penner Joins CBRE Investors

Penner is a 24-year industry veteran who first rose to prominence as the founder and CEO of the Capital Company of America/Nomura Capital, the largest real estate lender in the US during the 1990's and a pioneer in the CMBS market. At Lubert-Adler he was responsible for sourcing and underwriting new investments with a primary focus on deals in the debt and the securitized markets. Before he joined Lubert-Adler, he was the manager of Penner Global Properties and a founding partner of Pacific Star Capital, both private real estate investment companies.

Penner, know for his insightful observations about real estate investment and the capital markets, was a keynote speaker at Real Estate Media's RealShare Investment & Finance Summit last fall in New York City. In his remarks there, he called for changes to prevent a recurrence of the current credit crisis, including a retooling of the way rating agencies work.

Vance Maddocks, chief executive officer of CB Richard Ellis Investors, points out that Penner is joining the firm during a "time of capital markets turbulence." Penner's experience and innovative approach will help CBRE Investors to "develop future programs that maximize returns for our investors," Maddocks says.

CB Richard Ellis Investors, an independently operated affiliate of CB Richard Ellis Group Inc., is a global real estate investment management firm with approximately $38 billion in assets under management. The firm completed $11.7 billion of acquisitions in North America, Europe and Asia and completed $4.8 billion in dispositions during 2007.