– Zachary Bornstein and Michael Odell Assume Expanded Company Leadership Positions –
– Andrea Olshan Departs While Becoming Company’s Board Chairman
NEW YORK, NY – February 8, 2021 – Olshan Properties, one of the country’s leading private owners, developers and operators of commercial real estate, today announced it will reorganize its executive office with the departure of Andrea Olshan. Details of her new position will be disclosed shortly.
Zachary Bornstein, who has served as Senior Managing Director of Capital Markets and Asset Management for Olshan Properties, has been named the company’s President. Michael Odell, who has also served as Senior Managing Director of Capital Markets, will become Executive Managing Director, Head of Investments and Capital Markets. Both executives have been at Olshan Properties for over 10 years.
Ms. Olshan leaves after 17 years at the family-owned company, moving to Chairman of the Board. During her nine-year tenure as CEO, she has expanded and repositioned the company’s investment portfolio, which includes hotel, retail, office and multifamily properties in various U.S. markets.
“I know I leave the company in extremely strong hands,” said Ms. Olshan. “Our family and the Board have total confidence in Zach, Michael and the entire executive team, and we know that under their day-to-day leadership, the company will continue to grow and prosper. Likewise, our confidence is bolstered by the tremendous skills and energies that are exhibited every day by the professionals throughout the Olshan organization at all levels. This is a great company because of them, and it will remain so.”
At Olshan, Mr. Bornstein has been focused on all capital markets activities, including mortgage financing, new strategic capital partnerships and new investment opportunities as well as asset management. Prior to joining the company, he served as a vice president in the Real Estate Principal Investment Area of Goldman Sachs. During his tenure there, he was involved in the acquisition of over $5.5 billion of commercial and residential properties and was directly responsible for the closing of over $3 billion in debt transactions. Mr. Bornstein graduated Cum Laude from the Wharton School at the University of Pennsylvania.
Mr. Odell joined Olshan Properties in 2011 and has been responsible for sourcing and structuring new investments, as well as all financing activities. Before coming to Olshan, he served in the U.S. Real Estate Capital Markets Group at Barclays Capital. Prior to that he held debt origination and structuring roles at Gramercy Capital Corp and in the Real Estate Finance & Securitization Group at CIBC World Markets. He has executed over $5 billion of capital transactions, including acquisitions, asset repositionings, recapitalizations, mortgage and mezzanine financings and syndications. Mr. Odell graduated Cum Laude from Cornell University and received an MBA from New York University’s Stern School of Business.
Based in New York City, where it was founded over 60 years ago, Olshan Properties specializes in the development, acquisition and management of commercial real estate in 11 states. The company is known for creating quality projects, managing with integrity, and harvesting value for its ownership and partners. The company owns and/or manages a diverse portfolio totaling approximately 23 million square feet.
About Olshan Properties
Olshan Properties is a privately owned real estate firm specialized in the development, acquisition, leasing and management of commercial real estate for more than 60 years. The close integration of investment and operating capabilities has given Olshan Properties a reputation as one of the leading private owner/operators of commercial real estate in the country.
Olshan Properties currently owns and/or manages, individually or with its affiliated companies, a diverse portfolio of commercial properties including Retail, Hotel, Office, and Residential in eleven states.