Secaucus-based Trinity Places Holdings Inc. announced Thursday it has named Michael Messinger president and chief executive officer. The company also announced an invesment of more than $13 million from Third Avenue Real Estate Value Fund.
According to the announcement, Messinger was most recently executive vice president and director of investment management at Forest City Ratner Companies, a wholly owned subsidiary of Forest City Enterprises, where he served for more than 18 years. Third Avenue Real Estate Value Fund completed its strategic investment in Trinity through a direct purchase of 3,369,444 previously authorized but unissued common shares of Trinity.
TAREX now owns 17% of the Company and will also be given the right to appoint one member of Trinity's board of directors in connection with this investment. TAREX is managed by Third Avenue Management LLC. Houlihan Lokey acted as sole placement agent for the offering, Trinity said in a statement.