NORTHBROOK, Ill. (November 28, 2017) – Northbrook-based Pine Tree, LLC today announced the hiring of commercial real estate industry veteran Hal Scudder as Chief Investment Officer. This appointment further bolsters Pine Tree’s already-extensive national retail real estate acquisitions platform.
“As we continue to enhance and grow Pine Tree with the industry’s most accomplished and talented professionals, we are proud to have strengthened our bench of management talent with the addition of Hal Scudder as CIO,” said Peter Borzak, CEO and Chairman of Pine Tree. “With over 30 years of industry experience and a deep understanding of the retail sector, we are incredibly excited to welcome Hal to Pine Tree’s multidisciplinary team and look forward to his contributions as we execute on our strategic initiatives.”
Before joining Pine Tree, Mr. Scudder served as Chief Investment Officer for Phillips Edison, where he directed the acquisition and disposition of over 300 shopping centers comprising nearly $5 billion in transactions. During his time at Phillips Edison, he also managed asset management, institutional equity raising and other investment management functions. Prior to Mr. Scudder’s time at Phillips Edison, he was a Principal with The Anderson Group, a Michigan-based private equity group, and served in a variety of roles with The Taubman Company. With Taubman, he was Chief Financial Officer of the Taubman Investment Company which oversaw Taubman’s investments in Sotheby’s, Macy’s, Woodward & Lothrop, John Wanamaker, A & W Restaurants, United Artists Theatres, and other private investments, as well as Vice Presidents of Development and Finance in charge of over 2.5 million square-feet of value-mall projects and over $1.5 billion of financing and sale transactions, respectively.
“I am thrilled to join such a highly-respected and accomplished firm like Pine Tree,” said Scudder. “In this current period of industry-wide change, Pine Tree’s vertically-integrated platform, experience, capabilities, and long-term vision set it aside from the rest of the pack. I am excited to contribute to the team’s efforts to mine value from its many shopping center assets around the country as well as from acquisition opportunities arising due to today’s severe pricing dislocation in the open-air shopping center space.”
Hal Scudder started his professional career with the New York City Department of City Planning and earned a Bachelor of Arts in History from Yale University, an MBA from the Wharton School, and a Master of City Planning degree from the University of Pennsylvania. He is a resident of Park City, Utah.
About Pine Tree:
Pine Tree, LLC is a full-service real estate company specializing in retail based in Northbrook, Ill. Since its founding in 1995, Pine Tree has acquired and developed 91 properties with an aggregate value of over $2.1 billion. The company’s projects are located across the United States.
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