Gordon Brothers announced that Thomas Pedulla has joined the company as President of Real Estate. Pedulla will lead the growth and expansion of Gordon Brothers’ real estate group. Pedulla inherits a team of seasoned real estate professionals with a multidecade track record of successful transactions ranging from lease terminations and restructurings to fee-owned property acquisition and disposition.
Gordon Brothers is a market leader in providing comprehensive retail, commercial and industrial valuation, operations, investment and disposition solutions for inventory, equipment, brands and real estate. The expansion of the real estate group will enable Gordon Brothers to support more clients seeking rapid, customized and guaranteed real estate-specific and cross-platform transactions.
Gordon Brothers lease valuation, mitigation, restructuring and termination services will continue to support tenants in their efforts to reduce real estate costs, leading the market in providing guaranteed outcomes. Fee-owned property solutions will expand to include more opportunistic acquisitions and dispositions of all property types in restructuring circumstances. Pedulla will build on the work of Gordon Brothers’ existing team, who have performed more than $6 billion in real estate transactions spanning single- and multi-asset properties around the globe. With Pedulla’s leadership, the team will solidify its role as a strategic investor in real estate deals.
“As companies increasingly seek informed assessments of their real estate portfolios and cost-efficient opportunities to manage their lease obligations, Tom’s 30-year track record as both an on-the-ground real estate expert and high-level strategic thinker will help to elevate our partnerships with our clients and partners,” said Ken Frieze, Chief Executive Officer of Gordon Brothers. “We cannot overstate the importance of Tom’s role and the excitement we have for building out our service offerings in the real estate industry.”
Pedulla said, “Gordon Brothers has a strong reputation as a close partner for clients, managing all projects solidly through execution and providing the expertise developed from years of managing complex transactions. I am enthusiastic about augmenting the team’s existing work and helping to shape the company’s real estate investment endeavors.”
Pedulla is a real estate industry veteran who most recently served as portfolio manager and managing partner of BentallGreenOak, a global real estate investment advisor that is majority owned by Sun Life Financial.
Bob Maroney, President of Commercial & Industrial commented, “Commercial & Industrial’s real estate solutions have long been an important part of our overall C&I success. I look forward to the addition of Tom and to continue offering our clients multi-asset solutions.”
Mark Dufton, who has served as Chief Executive Officer of Real Estate for Gordon Brothers since February 2012, was heavily invested in the recruitment of Pedulla. Dufton will continue on as a Senior Advisor to the business to ensure a smooth transition for both clients and partners.
“Tom has vast experience in all areas of commercial real estate, which is in lockstep with Gordon Brothers’ efforts to be an experienced partner for clients and guide them through critical transactions. He also brings an investor perspective to the role, which will aid the expansion of the investment platform for real estate,” commented Dufton.
“We look forward to Mark’s continued engagement with Gordon Brothers,” said Frieze. “Mark has successfully led and grown our real estate business, and sought ways to mend or improve clients’ real estate affairs. I greatly appreciate his dedication to Gordon Brothers for well over a decade”.
Pedulla will also oversee Gordon Brothers’ alliance with Jones Lang LaSalle (JLL), an alliance cemented in February 2019 and now entrusted by operators across the globe to handle their real estate rightsizing and inventory challenges.
Pedulla will be based in the firm’s Boston office.