Thomas Harney has joined Tri-Artisan Partners as a managing director and head of real estate. He previously was a senior managing director with Bear Stearns.
Tri-Artisan Partners LLC, a privately held merchant bank engaged in principal investment and corporate finance advisory activities, today announced the appointment of real estate veteran Thomas M. Harney as Managing Director – Head of Real Estate. With more than 25 years of experience in real estate and investment banking, most recently serving as Senior Managing Director at Bear, Stearns & Co. Inc., Mr. Harney has completed over $70 billion in real estate transactions during the span of his successful career.
In this newly created position, Mr. Harney will leverage Tri-Artisan’s already successful merchant banking franchise to create a commercial real estate merchant banking platform for the firm and its global base of institutional investors and shareholders. He will focus on recapitalizations, privatizations, joint ventures, and opportunistic investment initiatives in cooperation with seasoned management teams as well as selected private market project-level debt and equity investments.
Harney joins Tri-Artisan after having spent 11 years at Bear, Stearns & Co. Inc., where he served as Senior Managing Director of the Real Estate, Gaming, Lodging & Leisure Investment Banking Group and Co-Head of Real Estate Investment Banking. During his tenure at Bear, Stearns, Mr. Harney led several high profile transactions including the merger of Starwood Financial and TriNet Corporate Realty Trust to form iStar Financial; the merger of Lexington Realty Trust and Newkirk, the sale of National Government Properties to Rubicon America Trust, and multiple transactions with Crescent Real Estate; Canyon Ranch; Boca Resorts / Florida Panthers; CBL & Associates; NorthStar Realty Finance; Essex Property Trust, and several other prominent real estate companies.
“Tom has a tremendous track record in the real estate sector, and his background and experience in strategic M&A through multiple market cycles will extend our capabilities and provide Tri-Artisan with additional opportunities in the marketplace,” said Gerald Cromack, Co-Founder and Managing Director at Tri-Artisan. “We welcome him to the team and look forward to having Tom lead this new sector focus for the firm.”
“Tri-Artisan is a seasoned merchant banking partnership with exceptional resources, talented personnel, and strong business relationships” noted Harney. “I am excited by both Tri-Artisan’s organizational format and the timing of our entry into the commercial real estate sector.”
Prior to joining Bear, Stearns & Co. Inc., Mr. Harney served in various senior investment banking and principal investment roles at firms including Merrill Lynch and BT Securities. He started his career in 1983 at Olympia & York Properties and has successfully invested in both distressed debt and opportunistic equity in past market downturns. In addition, Mr. Harney benefits from his hands-on experience in acquiring, managing, leasing, financing, and selling direct property holdings and portfolios.
Mr. Harney received a B.A. in Urban Studies from the University of Pennsylvania and is a graduate of NYU’s Real Estate Finance and Development program. He maintains his NASD Series 7, 24 and 63 Supervisor / Principal designations, and is a member of multiple industry organizations including the National Association of Real Estate Investment Trusts, the Urban Land Institute, and the International Council of Shopping Center. He also serves as a Trustee of The Greenwich Village Society for Historic Preservation.
Tri-Artisan was founded in 2002 by Gerald Cromack and Rohit Manocha, Managing Directors of the New York-based firm.
Tri-Artisan Partners LLC is a privately held merchant bank engaged in principal investment and corporate finance advisory activities with offices in New York and London. Tri-Artisan differentiates itself by complementing the expertise of its senior merchant banking professionals with the skill set of over 60 highly successful, current and former senior operating executives of leading companies, each of whom is an investor in the Firm. These executives represent a cross section of major industry sectors including consumer/retailing, media and communications, industrial, healthcare, technology and financial and business services. Tri-Artisan also counts among its investors some of the leading U.S. and international private equity firms and financial institutions worldwide. Tri-Artisan Partners LLC is a NASD member and Tri-Artisan Partners Advisors Europe LLP is authorized and regulated by the UK Financial Services Authority.