Burger Named Co-CEO of Silverstein
- Dec 14, 2011
December 14, 2011
By Nicholas Ziegler, News Editor
In an effort to continue the firm’s ongoing expansion outside its New York City base, Silverstein Properties Inc. has announced the appointment of Martin Burger as co-CEO. Burger, who joined Silverstein in February 2010, will now work directly alongside president & CEO Larry Silverstein.
“Over the past two years, Marty has worked closely with our entire management team to expand our business at home and overseas,” Silverstein said. “Thanks in large part to his efforts, we now have projects underway in Florida, Eastern Europe and China.”
During Burger’s tenure, the company has expanded its outreach to multiple overseas markets – for example, in January of this year, Silverstein established a joint venture with China Bridge Capital and the state-owned Jianbeizui Central Business District Investment and Development Co. Ltd. Europe has also been on the radar, as the firm also entered into a joint venture with Poland’s Kulczyk Real Estate Holding to develop and acquire office, retail and mixed-use properties in Central and Eastern Europe.
Burger most recently led the effort to secure financing for the company’s latest development project, the Four Seasons Resort Orlando at Walt Disney World Resort, which is set to open in 2014. Construction on the $364 million, 444-room luxury resort will start on Dec. 15, 2011.
While most of Burger’s work will be outside the New York City area, the company is by no means stopping its development in its hometown. Last year, Silverstein completed and opened Silver Towers, the second of two apartment buildings on W. 42nd Street.
Additionally, Commercial Property Executive has reported extensively on Silverstein’s – and New York City’s – biggest project, the redevelopment of the World Trade Center. In our September issue, we noted that, along with the already-completed 1 and 7 WTC buildings, construction is already underway on the two towers of 2 and 3 World Trade Center as well. Silverstein is committed to building the tower to at least street level so that construction can be jump-started as soon as tenant commitments reach a critical mass. Given the volatility of the economy, a more detailed timetable has yet to be determined. Nevertheless, Silverstein Properties president & CEO Larry Silverstein predicted at a conference last June, “By 2016, this should all be done.”
Prior to joining the company, Burger was the president and CEO of Artisan Real Estate Ventures, a company he founded in 2006. Prior to that, he was the president of Related Las Vegas and executive vice president of The Related Companies, L.P. Burger has also worked as a vice president at The Blackstone Group and also for Goldman Sachs’ Whitehall Real Estate funds.