Yisroel Berg was promoted to chief investment officer-multifamily of Harbor Group International, a privately owned international real estate investment and management firm.
It is a new position, a Harbor spokeswoman said in an email.
Mr. Berg formerly served as managing director of multifamily acquisitions at Harbor, according to a news release Wednesday.
Based in New York, Mr. Berg will report to T. Richard Litton Jr., president of Harbor.
Mr. Berg will oversee all aspects of Harbor's direct multifamily investment activity. He will be responsible for the sourcing and underwriting of new multifamily opportunities as well as coordinating due diligence and closing efforts for acquisitions, the news release said. In addition, he will lead on sourcing the origination of mezzanine loans and preferred equity investments in multifamily.
Harbor and its affiliates control an investment portfolio of about $20 billion.
Regarding Mr. Berg’s former title as managing director of multifamily acquisitions, the spokeswoman added that “the other (Harbor) multifamily acquisitions-focused managing directors are Matthew Grabler and Greg Heller. Both are continuing in their present roles.”