{"id":1004117858,"date":"2015-04-21T06:03:45","date_gmt":"2015-04-21T14:03:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004117858"},"modified":"2022-12-07T19:40:57","modified_gmt":"2022-12-08T03:40:57","slug":"wood-partners-opens-office-in-midtown-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wood-partners-opens-office-in-midtown-manhattan\/","title":{"rendered":"Wood Partners Opens Office in Midtown Manhattan"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/i><\/p>\n

\"Rashid<\/a>

Rashid Walker, Wood Partners<\/p><\/div>\n

Wood Partners, L.L.C. has opened a new office in New York City and named industry veteran Rashid Walker as its director to oversee the company\u2019s development effort.<\/p>\n

\u201cWe operated an office in White Plains, N.Y. for several years but decided to move it to Manhattan due to its proximity to our target markets,\u201d Walker told Commercial Property Executive<\/i>. \u201cIt also sends a strong signal to the market that we are committed to the region and to pursuing urban deals in core locations.\u201d<\/p>\n

In his new role, Walker will be responsible for sourcing new development opportunities in the market, which includes Manhattan and the outer boroughs of New York City, Long Island, Westchester and Fairfield Counties and Northern New Jersey.<\/p>\n

According to Douglas Elliman\u2019s March 2015 Manhattan, Brooklyn and Queens Rental report, the Manhattan rental market has been rising for more than a year.\u00a0Manhattan rental price indicators continued to press higher, as the local economy and tight mortgage lending conditions have helped keep upward pressure on rents. The median rental price increased 6.1 percent to $3,395 from the same month last year.<\/p>\n

It\u2019s these strong demographics and high barrier to entry that make New York attractive to Wood Partners.<\/p>\n

\u201cThe move to Manhattan is in line with our strategy of focusing on development opportunities in core urban and suburban markets in some of the best markets throughout the country,\u201d Walker added. \u201cNew York City and the surrounding areas are some of the most difficult markets in which to invest. Therefore, success in these markets will undoubtedly produce attractive risk-adjusted returns for our capital partners.\u201d<\/p>\n

Before joining Wood Partners, Walker served as a vice president at Jefferson Apartment Group, where he led the company\u2019s real estate development effort.\u00a0Other positions include development director with AvalonBay Communities and acquisitions officer at JPMorgan Asset Management.<\/p>\n

Walker graduated with a bachelor\u2019s degree from Villanova University and an MBA from Columbia Business School. He is currently on the Board of Trustees at Westbury Friends School and has served as a member of the Planning Board in the Village of Hempstead, New York.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wood Partners wants to be closer to its target markets in the Big Apple.<\/p>\n","protected":false},"author":451,"featured_media":1004117869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11,21742,10,21747],"tags":[],"class_list":["post-1004117858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-midatlantic","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"\nWood Partners Opens Office in Midtown Manhattan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wood-partners-opens-office-in-midtown-manhattan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wood Partners Opens Office in Midtown Manhattan\" \/>\n<meta property=\"og:description\" content=\"Wood Partners wants to be closer to its target markets in the Big Apple.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wood-partners-opens-office-in-midtown-manhattan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-21T14:03:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T03:40:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/Rashid-Walker-photo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"448\" \/>\n\t<meta property=\"og:image:height\" content=\"307\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wood-partners-opens-office-in-midtown-manhattan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wood-partners-opens-office-in-midtown-manhattan\/\",\"name\":\"Wood Partners Opens Office in Midtown Manhattan - 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