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Trinity Place Holdings Inc Announces New CEO And Investment From Third Avenue Real Estate Value Fund


Thursday, 3 Oct 2013 10:10am EDT 

Trinity Place Holdings Inc announced the appointment of Matthew Messinger as President and CEO while welcoming the infusion of more than $13 million from Third Avenue Real Estate Value Fund, a new investor in Trinity. Third Avenue Real Estate Value Fund (TAREX) completed its $13.5 million strategic investment in Trinity through its purchase directly from the Company of the remaining 3,369,444 previously authorized but unissued common shares of Trinity at $4.00 per share. TAREX now owns 17% of the Company and will also be given the right to appoint one member of Trinity`s board of directors in connection with this investment. TAREX is managed by Third Avenue Management LLC, a New York-based investment manager with approximately $12.9 billion in assets under management and is one of the investors in global real estate securities with approximately $4 billion invested in publicly traded real estate and real estate-related companies. Houlihan Lokey acted as sole placement agent for the offering. 

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