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NEW YORK CITY-Woody Heller, who during the course of his career has closed asset and note sale transactions totaling more than $4 billion, representing over 26 million sf, has left CB Richard Ellis and joined Studley, the tenant rep firm. Terms of Heller’s deal were not revealed.

“It was unclear what the situation was at Insignia/CBRE, once that reached clarity …” Heller tells GlobeSt.com about the move to Studley.

Heller, who spent more than 20 years at Jones Lang LaSalle before joining Insignia/ESG (now CB Richard Ellis) as an executive managing director in April 2002, will serve as a Studley executive managing director and head of its new Capital Transactions Group. He brings associates Carly Borg and Will Silverman along with him. Heller says he is looking forward to building a group and working on national markets; he will continue to do transactions.

He adds that things are off and running and they already have a number of transactions under way. “We’re flat out wildly busy,” Heller says.

CBRE officials report that they tried to make an arrangement for Heller to stay with the merged company and feel comfortable with the team they have in place.

“Woody is a friend and consummate professional,” CBRE vice chairman and general manager, New York City, Joseph R. Harbert says in a statement. “We wish him well. Although we were unable to reach an agreement with him, our clients will continue to be well served by our superb investment sales team, led by Darcy Stacom. This team has closed an average of $1 billion of property sales per year over the past five years, a production total unrivalled in the New York market. Moreover, our New York team is supported by CB Richard Ellis’ preeminent global investment sales capabilities, which annually are responsible for more than $50 billion of investment sales transactions.”

The move is the latest and highest profile executive addition at Studley since CEO Mitchell Steir and president Michael Colacino took over the leadership of the company last December after a management buyout. John Pantazis was named COO in early July.

“Woody adds a dynamic expertise as well as exciting new business frontier for our company,” says Steir.

Among Heller’s notable transactions is the sale of the 1.6 million-sf CitiGroup Center in April 2001 for $725 million, and in 1997, the net lease of New York’s Rhinelander Mansion to Polo Ralph Lauren for a then record $1,300 per sf. In addition to property sales, Heller also structured participating and/or convertible mortgages, equity joint ventures and note sales, including the 1997 sale of the notes and mortgage encumbering the famed Chrysler Building.

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