Richard Jennings, who founded and led a mortgage-finance organisation during Goldman, Sachs Co. and went on to start his possess genuine estate investment-banking firm, has died. He was 72.
He died Feb. 28 during Memorial Sloan Kettering Cancer Center in Manhattan, his wife, Nancy Jennings, pronounced Friday in a write interview.
During an roughly 20-year career during New York-based Goldman Sachs, that in 1999 became Goldman Sachs Group Inc., he oversaw a genuine estate investment trust investment-banking operation. In 1991, he founded Realty Capital International, portion as boss of a firm, also in New York, and operative alongside his daughter, Sally Jennings.
Realty Capital has managed some-more than $9 billion of transactions, including joint-venture equity, plan financial and REIT initial open offerings, according to a website. Clients have enclosed SL Green Realty Corp., Mitsui Fudosan Co. and Boston Properties Inc.
In 1979, a decade into his reign during Goldman Sachs, he began a mortgage-finance group, according to a form on a website of Alexandria Real Estate Equities Inc., where he had been lead executive given 2007.
“He was a genuine down-to-earth, decent person,” Joel Marcus, arch executive officer during Pasadena, California-based Alexandria Real Estate, pronounced Thursday in a write interview. “He was also reserved, though when he spoke, people paid attention. His ability to have judicious thoughts about pivotal issues that open companies face was kind of a hallmark of his person.”
For 3 years finale in 1989, he was handling executive of genuine estate financial during Drexel Burnham Lambert Inc., a New York organisation that after collapsed underneath a weight of former junk bond aristocrat Michael Milken. Jennings afterwards served as comparison clamp boss during Landauer Real Estate Counselors in New York before to starting Realty Capital.
Richard Baker Jennings was innate Nov. 26, 1943, in New York to Milton and Ruth Jennings. He graduated from a Riverdale Country School in a Bronx in 1961. While attending Yale University in New Haven, Connecticut, he was awarded a Corning Glass Works Foundation Traveling Fellowship, permitting him to investigate for a year in Europe and Asia.
He perceived a bachelor’s grade in economics from Yale in 1965 with a eminence of magna cum laude, and warranted an MBA from Harvard Business School in Boston in 1968.
A basketball actor as a youngster, he took adult tennis after in life, personification with friends in Quogue, on Long Island, his mother said. Admiring excellent art was another passion. “Our Friday night dates were during a Metropolitan Museum,” she said. “He desired a American Wing and Chinese landscape paintings, and even collected some scrolls.”
Jennings served on a play of Orlando, Florida-based National Retail Properties Inc. and New York’s Terra Capital Partners, among others.
“He was a good friend, a rarely reputable real-estate veteran and a valued house member,” Bruce Batkin, CEO of Terra Capital, pronounced Monday in a note to a firm. “I had famous Rich for over 30 years, and he never unsuccessful to stir with his extent of knowledge, operation of personal and veteran relations and decent ethics.”
In further to his mother of 46 years, Nancy Steeger Jennings, a Presbyterian minister, Jennings is survived by 3 daughters, Sally Jennings, Anne Jennings Staebler and Victoria Jennings Diamond; his twin brother, John, and sister, Ellen Jennings Giusti; son-in-laws, Ned Staebler and Robert Diamond; and 4 grandchildren.