Powerhouse Industry Leaders Peter Hauspurg, Daun Paris Join ABS Partners Real Estate

(New York, NY – October 3, 2018)ABS Partners Real Estate, a leading New York City-based real estate firm, today announced that real estate industry icons, Peter Hauspurg and Daun Paris, who together built Eastern Consolidated into an industry powerhouse, have joined the firm. Peter Takiff, the longtime CFO of Eastern, who played a key role in the firm’s development, will also join the ABS acquisition team.  Mr. Hauspurg will join as a Co-Managing Partner; Ms. Paris and Mr. Takiff also join as senior members of the firm. In this capacity, the executives will focus on building the acquisition pipeline and expanding new partnership relationships for ABS Partners, which boasts an investment portfolio of over 96 properties totaling 13.25 million square feet of space in 10 states. The announcement was made by Gregg Schenker, President and Co-Managing Partner, ABS Partners Real Estate.

“This new chapter in the esteemed careers of Peter, Daun and Peter holds tremendous promise for the growth and success of the ABS Partners investment platform and our ability to source equity investments that meet the appetites and investment goals of our many long-time partners,” Mr. Schenker said. “We also hope to be a resource for their relationships, creating opportunity for new equity partners who value our vertically integrated platform for value creation.”

Adds ABS Partners Chairman Earle Altman, “I’ve known Peter for decades and have long considered him to be the very highest caliber of professional in our industry. I am very proud to have him join our partnership.”

The three executives will work with co-managing partners Peter Burack and Steven Hornstock and partners Jason Fein and Randy Modell in the ABS Partners equity investment platform, which organizes opportunities for the firm and its clients to participate in the ownership of real estate. Additional support will be provided by Alex Kaskel and Alex Warner.

The ABS Partners portfolio is currently comprised of 84 distinct investments totaling 96 properties in 10 states – with the majority of assets (52 out of 96 properties) in Manhattan – and include the full spectrum of office multifamily, industrial, retail, lodging and parking asset classes. The company has more than 200 different partners with which it invests, in various forms.

Mr. Hauspurg, formerly chairman and CEO of Eastern Consolidated, said “We know ABS Partners is made up of sophisticated, knowledgeable, accomplished investors who are able to move with speed and precision in order to secure exciting investment opportunities and assemble the right structures and partnerships to bring great deals to closing. We look forward to connecting our new partners with great opportunities, and also introducing the opportunities to our long-time clients who want to have the chance to participate in commercial real estate investment at such a high level.”

Mr. Hauspurg and Mr. Takiff will join the ABS Partners team in its Manhattan headquarters, focused on sourcing and structuring unique investment opportunities. Ms. Paris, most recently president of Eastern Consolidated, will co-invest in equity opportunities, and will focus her professional time in the management of a portfolio of properties in which she is a managing principal.

ABS Partners’ Mr. Schenker said the team will be valuable in bringing exciting transactions and partners to the firm’s growing portfolio. The firm has experienced tremendous growth in the portfolio, adding more than 20 properties in the region over the last 10 years.

Recent ABS Partners acquisitions include a 50-percent interest a portfolio of six research and development properties in Princeton, N.J. The investment includes a 31-acre parcel of land, zoned as of right for another 350,000 buildable square feet. The portfolio and land cement ABS Partners’ ability to serve the growing life sciences sector in the premiere corridor within the Princeton market. Another recent transaction, the acquisition of 5500 Broadway in the Bronx earlier this year, is a good fit for ABS Partners’ ability to operate, manage, market and lease space throughout New York. Similarly, ABS Partners’ purchase of 145 East 57thStreet is poised for success with the firm’s talent at construction management and leasing. ABS Partners has completed the high-end redevelopment of individual floors, pre-built suites and common areas and has undertaken a comprehensive leasing and marketing campaign to attract new tenants.

“We’ve spent decades building a vertically integrated real estate company, able to tackle every aspect of an investment and every stage of the life cycle of an asset,” Mr. Schenker said. “We’re uniquely positioned to participate in a wide range of opportunities – and to execute in every type of deal structure, role, challenge and plan. We are excited to bring our finely tuned investment and asset management machine to the new acquisition targets in Peter’s line of sight.”