Blog Post

Tylis Joins Morgenstern Capital as Strategic Advisor

October 18th, 2019

Former NorthStar CEO to Help Grow Firm’s Portfolio, Multifamily Management Affiliates

New York City-based commercial real estate firm Morgenstern Capital has tapped veteran investment expert Al Tylis to be its strategic partner and adviser.

Tylis previously was chief executive of NorthStar Asset Management, growing the company into a $38 billion global real estate firm prior to its 2017 sale to Colony Capital, the Los Angeles-based investment giant.

In his new role, Tylis will work to help expand the portfolio of Morgenstern and its affiliated multifamily management companies, Canvas Property Group and Finished Canvas. “Following the recent launch of its third-party management business, Canvas Property Group has added over 300 units in seven buildings to its portfolio in the last few months,” Rob Morgenstern, company founder and managing partner, said in a statement. “Now, with Al coming on board bringing his remarkable background and proven track record, Morgenstern Capital and our companies are poised for even greater growth and success.”

Al Tylis (Courtesy of Morgenstern Capital)     Canvas Property Group is based in 401 Park Ave. S in New York City. (CoStar)   

 

Founded in 2014, Morgenstern specializes in the investment and operation of multifamily and mixed-use buildings. Part of its strategy is to acquire and rehabilitate underperforming properties. In the past five years, its asset management team has renovated over 500 apartments.

In addition to his work leading NorthStar, Tylis has held board positions at New York landlord RXR Realty and asset manager The Townsend Group.

Aside from real estate, Tylis is also an owner and board member of D.C. United, the major league soccer club in Washington, D.C. He also co-founded the Tylis Family Foundation, a charitable organization for underprivileged families.

 

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https://product.costar.com/home/news/shared/1289758931