N@N

Wall Street Veteran Katy Rice Joins Parmenter Realty Partners

^{Published on 2010-01-05 18:20:10 - Market Wire}
 

MIAMI--([ BUSINESS WIRE ])--Parmenter Realty Partners, a leader in real estate investment and management, today announced the appointment of Ms. Catherine (Katy) D. Rice as Managing Principal and Partner of the firm.

"We are very pleased to welcome Katy Rice to our team at Parmenter Realty Partners. Katy brings a wealth of knowledge and experience to the firm. She will play a vital role in all of our capital markets activities and will become a member of the Investment Committee"

Ms. Rice served as the Chief Financial Officer of iStar Financial Inc. (NYSE: SFI) from 2002 to 2009. iStar Financial is a leading publicly traded finance company focused on the commercial real estate industry.

Prior to joining iStar, Ms. Rice was a Managing Director in both the financial sponsors group and the real estate investment banking group of Banc of America Securities. Previously, Ms. Rice was a Managing Director at Lehman Brothers, where she was responsible for the firm's West Coast real estate investment banking effort. She spent the first ten years of her career at Merrill Lynch in its real estate investment banking group. Ms. Rice has over 25 years of experience in the public and private capital markets and has been involved in over $30 billion of capital-raising and financial advisory transactions, including public and private debt and equity, mortgage financings, merger and acquisitions, leveraged buyouts, major asset dispositions and debt restructurings.

Ms. Rice received a B.A. degree from the University of Colorado and an M.B.A. degree from Columbia University.

"We are very pleased to welcome Katy Rice to our team at Parmenter Realty Partners. Katy brings a wealth of knowledge and experience to the firm. She will play a vital role in all of our capital markets activities and will become a member of the Investment Committee," said Darryl Parmenter, President and CEO. "We expect the next five years to be a very exciting period in the commercial real estate markets and are looking forward to capitalizing on the unprecedented opportunities through the fund we are currently raising, Parmenter Realty Fund IV. The addition of Katy will not only round out our senior management team, but will also help to position our firm for further growth."

About Parmenter Realty Partners:

Parmenter Realty Partners is a real estate investment and management company with offices in Miami, Dallas, Atlanta and New York. Parmenter is actively involved in managing institutional real estate funds with a focus on distressed real estate and the expansion of its portfolio in the major in-fill markets in the southern half of the United States. Parmenter identifies and acquires under-performing properties that may be capital deprived and have current or future occupancy issues, expansion potential or that require repositioning through renovations or system upgrades.