NEW YORK, July 2, 2018 /PRNewswire/ -- iStar Inc. (NYSE: STAR) today announced promotions among its senior management team. Marcos Alvarado, who recently joined iStar as Chief Investment Officer, has also been named President, effective immediately. Andrew C. Richardson, who recently returned to the firm as President of Land & Development and who has been serving as interim Chief Financial Officer, has agreed to take on the role of Chief Financial Officer on an ongoing basis. As a result, iStar has concluded its Chief Financial Officer search.
Jay Sugarman, iStar's Chairman and Chief Executive Officer stated, "Marcos and Andy have been great additions to the iStar team. We are already benefiting from their significant contributions in advancing iStar's strategic priorities. Our diversified portfolio together with our deep and highly experienced team provides an exceptional platform to drive long-term shareholder value. We are encouraged by our continued progress in 2018 and are confident that our strong foundation will lead to continued success."
Mr. Alvarado added, "iStar's unique platform has been honed over the past 25 years to provide innovative value-add solutions for our customers. I look forward to continuing the momentum of the business as we work to create an exciting future for the Company."
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iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and more than $35 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions. The Company is structured as a real estate investment trust ("REIT"), with a diversified portfolio focused on larger assets located in major metropolitan markets. Additional information on iStar is available on its website at www.istar.com.
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