Watermark Capital Partners, a new real estate private equity investment firm, will focus on value-added investment strategies. Co-founder Michael G. Medzigian, former president and CEO of Lazard Freres Real Estate Investors, is chairman and managing partner. Cordell A. Lietz is founding partner and John R. Muse is a non-executive founding partner; Mr. Leitz was senior vice president at the Taubman Realty Group, and Mr. Muse is a partner at Hicks, Muse, Tate & Furst.
Mr. Medzigian left Lazard at the end of December; his duties are being handled by Mathew Lustig, managing principal with overall responsibility for Lazard’s real estate activities. A spokeswoman at Taubman said it had not been decided if Mr. Lietz would be replaced.
Also, Marc P. Weiss was named CFO of Watermark. He was CFO of Commonfund Realty, where his duties have been assumed by Linda Costa, CFO and treasurer of Commonfund Capital.
