MARKET PARTICIPANTS RECOGNIZE RXR AS A “GO TO PLAYER” IN THE NEW YORK TRI-STATE AREA
RXR’s investment strategy is to leverage its 50-year franchise with a multi-disciplined, best-in-class infrastructure to invest in one of the strongest and most diverse real estate markets in the world while controlling a large asset base within this target market to create significant competitive advantages that translate into superior risk adjusted investment performance.
RXR enjoys considerable competitive advantages including:
Exceptional access to insider transaction flow given its proven track record, established local presence, market credibility and breadth of relationships
Real estate acumen and financial sophistication to underwrite and structure complex real estate transactions
Demonstrated value creation capabilities over a multitude of market/real estate cycles due to best-in-class and multi-disciplined resources and ability to recognize superior risk-return opportunities.
RXR has been one of the most active participants in the New York City real estate investment market re-establishing itself as one of the largest owners and managers of prime office product. Over the last 18 months, RXR has acquired interests or made investments in seven New York City assets encompassing 6.6 million square feet with a gross asset value of $2.6 billion.
RXR has formed three vehicles through which it executes its acquisitions:
Opportunity Fund & Co-Investments
Value Added Fund
Separate Account Program
RXR Realty is always interested in opportunities to acquire real estate within the tri-state region. Please e-mail us the information on available properties, or contact Richard Conniff at 516.506.6000 or Frank Patafio at 516.506.6637.
Frank Patafio serves as a Senior Executive Vice President, Portfolio manager and Head of Acquisitions for RXR Realty LLC (“RXR”). Mr. Patafio is a member of RXR’s Investment Committee. Since joining RXR, Mr. Patafio has worked closely with Senior Management in acquiring over $6.3 billion of assets encompassing 9.6 million square feet.
Prior to joining RXR, Mr. Patafio was a Partner and CFO at the Praedium Group, a Director at Credit Suisse First Boston and a Senior Manager at E&Y Kenneth Leventhal. During Mr. Pafatio’s tenure at Credit Suisse and Praedium, he was responsible for acquiring approximately 19,000 multi-family units for redevelopment or condominium conversion with a gross value of $1.9 billion in the NYC tri-state area.
Mr. Patafio received his Bachelor of Science degree in accounting from St. John’s University and his MBA (with Distinction) in finance from Pace University’s Lubin School of Business. Mr. Patafio is a Certified Public Accountant.
In addition, Mr. Patafio serves as an Independent Director of Northfield Bank, a publicly traded company on NASDAQ.
Michael Maturo is a founding Managing Partner and serves as President of RXR Realty LLC (“RXR”), a multi-billion dollar private real estate company which was formed subsequent to the sale of Reckson Associates Realty Corp (“Reckson”)(NYSE:RA) to SL Green, one of the largest public Real Estate management buyouts in REIT history. In this capacity, he develops, implements and oversees RXR’s corporate strategy and investment fund and asset management businesses. Mr. Maturo also serves as RXR’s Chief Financial Officer and has oversight responsibility for all financial, strategic planning, capital markets and investor relations activities. Mr. Maturo is a member of RXR’s Investment Committee and its Board of Directors. He is also a Principal and member of the Investment Committee of RXR Real Estate Opportunity Fund, LLC and RXR Real Estate Value Add Fund LLC.
Prior to the Reckson/SL Green merger, Mr. Maturo served as President, Chief Financial Officer and a member of the Board of Directors at Reckson, where he was responsible for Reckson’s Capital Market’s activities as well as its Financial, Strategic Planning, Treasury, Tax, Capital Markets and Investor Relations Departments. Mr. Maturo was also Chairman of the Investment Committee and had oversight responsibility over the company’s allocation of capital. Mr. Maturo worked closely with the Company’s CEO in developing and implementing Reckson’s corporate and operating strategies. Mr. Maturo was at Reckson from 1995 until January 2007 and during his tenure completed over $20 billion in capital markets transactions.
Additionally, Mr. Maturo spearheaded Reckson’s IPO of RNY Property Trust (ASX: RNY), a public real estate company listed on the Australian Securities Exchange and established Reckson’s investment grade rating. Mr. Maturo is the President, Chief Financial Officer and member of the Board of Directors of RNY. Prior to joining Reckson Associates, Mr. Maturo was a senior manager with EY Kenneth Leventhal Real Estate Group. Mr. Maturo is a Certified Public Accountant.
In addition, Mr. Maturo serves on a number of outside Boards and Committees including The Board of Directors of the Long Island Association (LIA) and Chairman of the Economic Development Committee, The Investment Committee of the Diocese of Rockville Center Pension Plan, The Advisory Committee of The Nassau County HUB Development, and Member of the Real Estate Roundtable. Mr. Maturo was appointed by Governor Cuomo in December 2012 to the Board of Trustees of the Long Island Power Authority (LIPA) where he served as Chairman of the Personnel and Compensation Committee and member of the Finance and Audit Committee and the Operations Transition Committee. Mr. Maturo completed his tenure on the LIPA board in January 2014.
Chief Operating Officer
Mr. Conniff serves as Chief Operating Officer of RXR and Fund Manager for the Tri-State Prime Property Venture. Mr. Conniff joined Reckson in 1994 as a Senior Financial Analyst and was promoted to Corporate Senior Vice President of Investments and Chairman of the Investment Committee. Mr. Conniff was responsible for the analysis of all investment opportunities including acquisitions, dispositions, joint ventures and structured finance investments as well as the related due diligence, negotiation and closing of said transactions.
From 1992-1994, Mr. Conniff was employed by Cushman & Wakefield as a Financial Manager and Portfolio Manager with responsibility for the supervision and financial management of a 3 million square foot portfolio on Long Island. From 1989-1992, Mr. Conniff was employed by VMS Realty Partners as Vice President of Asset Management.
Mr. Conniff serves as a board member of several charitable educational foundations and was recently elected Vice Chairman of the Old Westbury College Foundation Inc. Mr. Conniff holds a bachelor’s degree in finance from the City University of New York.
Scott Rechler is the Chief Executive Officer and Chairman of RXR Realty LLC (“RXR”), a multi-billion dollar private real estate company which was formed subsequent to the sale of Reckson Associates Realty Corp (“Reckson”) to SL Green in January 2007, one of the largest public Real Estate management buyouts in REIT history.
Mr. Rechler served as Chief Executive Officer and Chairman of the Board during Reckson’s dynamic growth throughout New York City, Long Island, New Jersey, Westchester and Connecticut. Mr. Rechler was the architect of Reckson’s $300 million IPO in 1995 and $6.5 billion sale in 2007 generating a 715% total return to Reckson shareholders.
Since its formation in January 2007, Mr. Rechler has led RXR in becoming one of the New York Tri-State area’s leading real estate companies, accumulating a portfolio with a gross value of approximately $5.5 billion comprised of 106 properties encompassing over 18.0 million square feet.
In June 2011, Mr. Rechler was appointed by New York Governor Andrew Cuomo to serve on the Board of Commissioners of the Port Authority of New York and New Jersey, and in September 2011, Mr. Rechler was named to serve as Vice Chairman of such Board. Mr. Rechler also serves as Chairman of the Port Authority’s Capital Planning Committee where he oversees the Port’s $30 billion capital budget including the World Trade Center redevelopment. In May 2013, Mr. Rechler was appointed to represent Governor Cuomo on the Board of The National September 11 Memorial & Museum at the World Trade Center Foundation, Inc.
Mr. Rechler is actively involved with the Real Estate Roundtable, for which he is a member of the Board of Directors and Co-Chair of its Political Action Committee.
Mr. Rechler prides himself on enhancing the communities where RXR operates. As such, Mr. Rechler serves as a member of the Real Estate Board of New York, member of the Hofstra Honors College Advisory Committee, as well as the NYU Real Estate Institute Advisory Committee. In addition, Mr. Rechler serves as the Co-President of the Board of Trustees for Friends Academy and serves on the Board of many of the regions top cultural institutions such as the Tribeca Film Institute and the Long Island Children’s Museum where he serves as its co-Chairman of the Board.
Mr. Rechler is a graduate of Clark University. He also earned a Masters of Science degree in Real Estate at the New York University Schack Institute.
Managing Director / Executive Vice President
William Elder is the Managing Director of RXR’s New York City division and an Executive Vice President of RXR Realty. Mr. Elder is responsible for the oversight and management of the Company’s New York City office.
Previously, Mr. Elder worked with RXR’s senior management in expanding and managing Reckson Associates Realty Corp.’s six-building, 5.5 million-square-foot NYC portfolio before Reckson was sold to SL Green Realty Corp. in 2007.
Mr. Elder most recently was Senior Managing Director in the strategic agency services group at Cushman & Wakefield. Prior to that, he served as Executive Vice President of leasing at Ruben Co.. Elder has also held senior positions at SL Green and Shorenstein Co..
Mr. Elder holds a BS from Wagner College and is a board member and treasurer of the East Side House Settlement, an educationally focused charity located in the Mott Haven section of the Bronx. He is also a member of the Real Estate Board of New York.
Jason Barnett is one of the founding managing partners of RXR Realty LLC (“RXR” or the “Company”) where he serves as Vice Chairman, General Counsel, and Secretary of the Company. RXR is a fully integrated, multi-billion dollar private real estate company which was formed subsequent to the merger of Reckson Associates Realty Corp (“Reckson”) (NYSE: RA) with SL Green, one of the largest public Real Estate management buyouts in REIT history. In this capacity, Mr. Barnett is involved in many aspects of the Company’s business. In addition to being responsible for all legal and compliance matters for the Company, Mr. Barnett is also responsible for overseeing the Company’s transactional activities as well as the Company’s corporate initiatives. Mr. Barnett is also a member of the Investment Committee of RXR.
Prior to the Reckson/SL Green merger, Mr. Barnett served as Senior Executive Vice President – Corporate Initiatives, General Counsel and Secretary where he was responsible for all legal matters and corporate initiative related matters and integrally involved in the structuring and execution of over $6 billion of acquisitions, financings and capital market transactions.
Since forming RXR in 2007, Mr. Barnett has been involved in over $4 billion of transactions building RXR into one of the New York Tri-State areas leading real estate companies comprised of over 100 properties and 19 million square feet.
Mr. Barnett is also the Senior Executive Vice President, General Counsel and member of the Board of Directors, of RNY Property Trust (ASX: RNY), a public real estate company listed on the Australian Securities Exchange.
Mr. Barnett has extensive experience with both the Public Company and Private Fund structures. Mr. Barnett is a frequent speaker at industry conferences on such topics as transaction structures, joint ventures, Real Estate capital markets and corporate and compliance related matters.
Prior to joining Reckson, Mr. Barnett practiced in the corporate and securities department of Sidley Austin Brown & Wood, LLP, an international law firm, where he focused on Capital Markets and Real Estate Investment Trusts. He is a member of the American Bar Association, National Association of Real Estate Investment Trusts, the Real Estate Board of New York and is admitted to the Bar of the State of New York.
Mr. Barnett serves as a Director, Trustee or Advisor for a number of community based organizations. Mr. Barnett earned a Bachelors of Arts from Clark University, attended the London School of Economics and earned his Juris Doctor from Emory University School of Law.