Blackstone Group and Ivanhoé Cambridge will form a new property management company at New York-based Peter Cooper Village Stuyvesant Town (PCVST). No financial terms were disclosed. Rick Hayduk has also been named general manager of PCVST effective January 1st. Ivanhoé, the real estate investment arm of the Caisse de dépôt et placement du Québec, partnered with Blackstone in the acquisition of PCVST, a private residential development, late last year.
Blackstone and Ivanhoé Cambridge to Establish a New Property Management Company at Peter Cooper Village / Stuyvesant Town; Rick Hayduk Appointed General Manager
New York, New York, January 7, 2016. Blackstone (NYSE:BX), through funds it manages on behalf of its real estate investors, and Ivanhoé Cambridge today announced that it will establish a new property management company at Peter Cooper Village / Stuyvesant Town (PCVST) led by Rick Hayduk who has been appointed General Manager of PCVST effective January 1st, following a transition period with current property manager Compass Rock.
“We are pleased to announce Rick’s appointment as PCVST’s new General Manager,” said Nadeem Meghji, Senior Managing Director, in Blackstone’s Real Estate Group. “We’ve listened extensively to the tenants and community and have taken their feedback into account as we build a new property management company under Rick’s leadership. Rick has worked with Blackstone properties for almost a decade and is someone we know well and trust. We are confident he is the right person for this role.”
Mr. Hayduk has over 30 years of hospitality and property management experience. Mr. Hayduk joins PCVST from Boca Raton Resort & Club where he was the property’s President responsible for the 350 acre resort, its 1,047 hotel rooms and 3,400 club member families. Prior to that he was regional managing director of South Seas Island Resort and the Inns of Sanibel where he worked regularly with over 20 Home Owners Associations and the residents who resided in the resort village and neighboring condominiums.
“Over the years of serving guests, residents and associates, I have seen time and time again how personally engaging customers and residents directly is the best approach in property management. Management must be a part of a community in order to understand the needs of its residents. My wife Carol, our two daughters and I are excited to join the PCVST community and we look forward to getting to know our neighbors and fellow tenants as well as enjoying the green spaces that the community is so well known for,” said Rick Hayduk, General Manager, Peter Cooper Village / Stuyvesant Town. Rick will be the first General Manager to live on the property since PCVST was owned by Met Life.
Upcoming Tenant Events
Tenants are invited to enjoy refreshments and hear from Blackstone, Ivanhoé Cambridge, and meet Rick Hayduk on Saturday, January 9th at 10:00 a.m. at the tented basketball courts at StuyTown. Additional tenant meet-and-greets will be held on: Tuesday, January 12th at 2:00 p.m. at The Community Center (RSVP required by registering at the Community Center, calling the Community Center at 212-598-5297 or emailing firstname.lastname@example.org) Tuesday, January 12th at 3:00 p.m. at The Community Center (RSVP required by registering at the Community Center, calling the Community Center at 212-598-5297 or emailing email@example.com) Thursday, January 14th at 6:30 p.m. at the tented basketball courts at StuyTown
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $330 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets. Through subsidiaries and partnerships, Ivanhoé Cambridge has direct or indirect interests in over 160 million ft2 (up to 15 million m2) of office, retail and logistics properties as well as in more than 23,000 multiresidential units. Ivanhoé Cambridge held more than Cdn$48 billion in total assets as at June 30, 2015. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers. For further information: ivanhoecambridge.com.
Paula Chirhart, +1 212-583-5011
Sébastien Théberge, +1.866.456.3342