Urdang, the real estate manager for BNY Mellon, has named PJ Yeatman to the new position of head of private real estate, with responsibility for setting strategy and leading the future growth of the private real estate business.
Yeatman (pictured), who also joins Urdang's management committee, reports to E Todd Briddell, chief executive officer of Urdang.
Yeatman is taking on private real estate responsibilities formerly held by Richard Ferst, who had been Urdang chairman. Ferst, who had been with Urdang since 1998, retired in December.
"We view PJ's track record, experience, energy and world-class investment capabilities as critical elements as we expand Urdang's private real estate investment capabilities and the breadth and depth of our strategies," says Briddell. "PJ is a veteran investment professional with 21 years of value-added real estate investment, redevelopment and restructuring experience in all property types and in most major US markets."
Yeatman most recently had founded CoveredBridge Ventures, a Philadelphia-based real estate investment and advisory firm. Previously, he had been the senior managing principal at the Lubert-Adler Real Estate Funds, where he led the firm's activities in distressed and public-to-private transactions. During his 11-year tenure, he participated in the raising of USD6bn of equity and was responsible for investing in excess of USD650m of equity.