Bloomberg News

Bentall Kennedy Names Stephen Coyle Senior Adviser for Property

December 16, 2013

Bentall Kennedy, a Toronto-based manager of more than $30 billion of real estate assets, hired Stephen Coyle as a senior adviser to help the firm expand in higher-return property investments.

Coyle had been chief investment officer of a private-equity fund unit of New York-based Cohen & Steers Inc. (CNS:US), one of the largest owners of publicly traded real estate investment trusts. He will work from Bentall Kennedy’s Boston office and report to Michael McKee, chief executive officer of the company’s U.S. division, which is based in Seattle.

Bentall Kennedy to date has focused on acquiring and developing stable, income-producing real estate. Investors seeking greater returns may pursue a value-added strategy, meaning properties that require work such as major renovations; or opportunistic investing, which typically involves high-risk, distressed assets such as a portfolio of soured loans, a vacant building or an undervalued company.

“I’ll be working in portfolio management and helping to expand into the value-added and opportunistic” strategies, Coyle, who started today, said in a telephone interview. “I am very excited by this opportunity.”

Bentall Kennedy is owned by its senior management and two pension systems, the California Public Employees’ Retirement System and the British Columbia Investment Management Corp. The firm’s more than 500 institutional clients hold about 145 million square feet (13 million square meters) of office, retail, industrial, hotel and apartment properties in Canada and the U.S.

To contact the reporter on this story: Hui-yong Yu in Seattle at hyu@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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