In 2020, numerous changes occurred globally: some negative, others positive. Amidst this turbulence and upheaval, new developments also emerged — in a way, 'green' approaches. A few years later, this led to the coming together of two industry veterans, David Welsh and David Schonbraun, under the umbrella of GreenBarn Capital.
David Welsh co-founded Normandy Real Estate Partners, an investment firm that primarily invested in office, industrial and residential properties in the northeastern US. Normandy raised over US$3 billion in investment capital before being acquired by Columbia Property Trust for US$100 million in 2020. This strategic move was intended to strengthen Columbia's regional presence in New York and Boston and expand its fund management platform.
Wealth of Experience and Strategic Direction
Welsh subsequently served as Head of Office at Columbia, where he was responsible for the acquisition and refurbishment of US$5 billion worth of office properties. His career also included roles as a Managing Director at Morgan Stanley Real Estate and as founder of European Property Advisors. At Morgan Stanley, he led the acquisition and sale of more than US$5 billion in real estate in the greater New York area. At European Property Advisors, he managed US$3 billion in equity and led a team of 45 people responsible for a US$10 billion portfolio. His extensive experience spans over 30 years in the real estate industry.
David Schonbraun also brought impressive expertise, particularly from his time at SL Green Realty Corp., where he served as Co-Chief Investment Officer and played a central role in the investment and acquisition of over US$30 billion in real estate. This underscores the deep market knowledge and transaction volume that the two partners brought to their new venture.
GreenBarn Capital: A New Era of Real Estate Investments
GreenBarn Capital focuses on leveraging the combined experiences of Welsh and Schonbraun to navigate complex market conditions and create value. Their past successes demonstrate a profound ability to identify and capitalise on opportunities in various market cycles. The establishment of GreenBarn occurred at a time when flexible and adaptable investment strategies were particularly in demand.
