Empire State Realty Hires President & COO

NEW YORK CITY—Empire State Realty Trust has tapped John Kessler as president and COO, effective immediately. Anthony Malkin will continue as chairman and CEO.

A commercial real estate industry veteran of more than 25 years, Kessler served as managing director in the credit business for Fortress Investment Group—where he focused on real estate—from 2010 to 2013. Previously, Kessler held various positions in real estate at Morgan Stanley, including global CFO for Morgan Stanley Real Estate's investing business and managing director. While at MSRE, he was a leader in the acquisitions of select real estate investment management operations of Lend Lease, including its Prime Property Fund, the “go private” acquisition of AMLI Residential, and in the successful integration and operation of both of these businesses. He also managed MSRE's core equity funds and separate accounts business.

In his new position, Kessler will focus on real estate portfolio performance, operations, capital markets and investor relations activities. Meanwhile, Malkin will continue to oversee long term strategy, capital markets and relationships with major tenants, investors and partners. Both executives will lead the company's external growth effort as it relates to potential acquisition and merger opportunities.

Says Malkin, “John is a seasoned, cycle-tested executive in the real estate industry. He has structured and executed complex transactions, integrated and led management teams, interacted constructively and successfully with investors, and raised capital. I have known him professionally for more than two decades, and our team has gotten to know him well through our search process. With John onboard, I can focus more of my time on special projects and long-term strategies and we have a proven veteran to enhance value and return for all ESRT's investors.”

Adds Kessler, “I am excited to join Empire State Realty Trust and am honored to have the opportunity to work side by side with Tony to lead the company. I look forward to my work with ESRT's quality senior executive team and building upon ESRT's iconic portfolio of assets, reputation for innovation, disciplined investment approach, and strong balance sheet.”