Institutional Property Advisors Appoints Brian T. Murdy as National Director
- Sep 12, 2012
Calabasas, Calif.—Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has named Brian T. Murdy national director, according to John J. Kerin, president and chief executive officer of the firm.
Most recently, Murdy served as a portfolio manager of Hartford, Conn.-based Cornerstone Real Estate Advisers’ flagship core open-end fund.
A 28-year veteran of the institutional multifamily investment industry, Murdy held the positions of portfolio manager for Cornerstone Real Estate Advisers since 1999. Murdy established strong relationships with state, county and city pension funds, off-shore investors, insurance companies as well as foundations and endowments resulting in raising and deploying over $2.5 billion of capital. He also was responsible for managing and capital raising for the firm’s $1.7 billion open-ended fund for the past eight years.
Prior to joining Cornerstone, Murdy was a director and portfolio manager for Henderson Global Investors, where he managed two public and two private syndications as well as Phoenix Home Life’s $1 billion real estate equity portfolio and a $2 billion mortgage loan portfolio. He also has experience as an accountant with DiSanto Bertoline and KPMG.
IPA was launched in late 2010 as a dedicated unit serving the specialized needs of institutional and major private investors, says Hessam Nadji, IPA’s managing director who has overseen the group over the past 18 months.
Murdy is a board member of the National Multi-Housing Council (NMHC), a member of the Pension Real Estate Association and a Certified Public Accountant (CPA). He graduated magna cum laude from Central Connecticut State University with a Bachelor of Science in Accounting.