HARTFORD, Conn., Sept. 12, 2012 /PRNewswire/ -- Cornerstone Real Estate Advisers LLC, one of the world's top 10 real estate investment advisory firms, has named Terri Herubin the Portfolio Manager of the Cornerstone Patriot Fund, an open end U.S. core real estate commingled fund with $1.7 billion in gross asset value.
Herubin replaces Brian Murdy, who is leaving Cornerstone after 13 years to pursue a leadership opportunity with a major real estate brokerage firm.
Herubin, an accomplished leader with nearly two decades of institutional real estate investment experience, joins Cornerstone Portfolio Manager Denise Stake and the rest of the Patriot Fund's team, providing continuity in the management of the fund.
The Patriot Fund's core investment strategy primarily targets barrier markets which provide potential for higher income growth and appreciation. This approach, along with the application of active asset and portfolio management, seeks to deliver excess returns with a focus on maintaining a low level of portfolio risk. The Fund is diversified by property type and location, and has more than 70 investors.
"We're extremely excited to be able to add a professional of Terri's experience and accomplishments. We believe that Terri's strong background in portfolio management and acquisitions, combined with Denise's significant experience with the Patriot Fund and the execution of its strategy, will be a significant benefit to Patriot Fund investors," said Thomas Dudeck, Cornerstone's Chief of Investment Strategy.
Herubin was most recently principal, portfolio manager at The Townsend Group and was a member of The Townsend Group's Investment Committee.
Prior to joining Townsend, Herubin was head of acquisitions and co-portfolio manager for equity real estate for the New York State Teacher's Retirement System. Her other experience has included serving as executive vice president of a regional developer of student and senior housing, and Vice President of a retail operating company.
Herubin received a B.A. in urban planning from the University of Illinois at Urbana-Champaign and graduated magna cum laude from Brooklyn Law School. She is licensed to practice law in New York and Washington, D.C.
More information is at www.cornerstoneadvisers.com.
About Cornerstone Real Estate Advisers LLC
Cornerstone Real Estate Advisers LLC, with affiliate and subsidiary offices in the U.S., UK, Europe and Asia, is one of the world's top ten largest real estate investment advisers. It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. Visit www.cornerstoneadvisers.com.
 Pensions & Investments 10/3/11
Contact: Patrick Collins
SOURCE Cornerstone Real Estate Advisers LLC