Damian Gallagher Joins Bluerock following Griffin Restructuring

Veteran external wholesaler Damian Gallagher has resigned his position as senior regional vice president with Griffin Capital Securities and has joined Bluerock Capital Markets in an identical capacity, The DI Wire has exclusively learned.

As reported last week, Griffin Capital’s captive broker-dealer and distributor, Griffin Capital Securities LLC, completed a significant restructuring of its sales team to focus on three distribution channels: independent broker-dealers, registered investment advisors, and wirehouse firms.

As part of the Griffin restructuring, a number of senior external wholesalers were laid off and replaced. Gallagher resigned his position shortly thereafter to rejoin former Griffin Capital Securities president Jeffrey Schwaber, who joined BlueRock Capital Markets as chief executive officer late last year.

“Damian is well-known and regarded as one of the most successful and experienced wholesalers, not only in the alternative investment space, but in the entire investment management business,” said Schwaber. “Bluerock is focused on retaining and recruiting the most professional wholesalers to serve our valued selling group and there is no one better than Damian Gallagher.”

During his leadership of Griffin Capital Securities from January 2012 to August 2016, Schwaber says the firm raised more than $7 billion, $500 million of which was raised in Gallagher’s Orange County and Los Angeles County territory.

At Bluerock, Gallagher will serve as a senior regional vice president covering the Southern California region.

Gallagher will distribute all of Bluerock’s sponsored products, including interval fund Total Income+ Real Estate Fund, Bluerock Residential Growth REIT Redeemable Preferred Stock & Warrants, and 1031 exchanges offered through the vertical Bluerock Value Exchange.

Bluerock has quietly emerged as one of the top sponsors in the industry according to Schwaber, who reports that the company’s equity raise is pacing to more than double since he joined the firm in December 2016. In addition, the company has had eight record-breaking months of equity raising during that time. The capital has been flowing into multiple programs since he took the helm, with the preferred offering raising more than 10 times the equity from his start, the 1031 exchange program on pace to reach $100 million, and the company’s flagship interval fund “breaking out” with substantial selling group buildout and record equity intakes as well.

“Bluerock is clearly emerging as one of the country’s finest providers and distributors of alternative investments,” said Schwaber. “The addition of a professional of Damian’s caliber demonstrates our commitment to excellence and I couldn’t be more pleased to welcome him to our team.”

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