Home Alts News Allegiancy Appoints Former Rockefeller CEO to Board of Directors

Allegiancy Appoints Former Rockefeller CEO to Board of Directors

Allegiancy, a commercial real estate asset management firm based in Richmond, Virginia, appointed Dennis Irvin to its board of directors. Irvin is the former president and chief executive officer of Rockefeller Group Investment Management in New York City.

Irvin’s appointment occurs during a strategically aggressive expansion of Allegiancy’s operations to include a $30 million capital raise from investors under new Reg A+ rules adopted in June by the Securities and Exchange Commission. Allegiancy is expected to be among the first firms in the U.S. to harness the new regulations to raise capital in order to double its 19-employee staff and expand its assets under management to $5 billion.

Irvin joins Allegiancy after more than seven years leading Rockefeller Group Investment Management, where he oversaw the company’s global investment management activities. Since 2011, Rockefeller Group Investment Management has acquired ownership interests in more than 1.3 million square feet of Class A office properties in U.S. gateway markets including Washington, D.C., San Francisco and Boston. Irvin developed the strategy and infrastructure to manage investor relationships across a global platform of joint ventures and investment products.

Having served leadership posts with The CIT Group, Cushman & Wakefield, J.P Morgan Securities and LaSalle Partners, Irvin has expertise in real estate investment management, investment banking and advisory services for both public and private clients. Over the course of his career, he has been responsible for more than $20 billion in transaction structuring and corporate advisory engagements and has overseen the structuring and placement of more than $5 billion in real estate debt.

In addition to the $30 million capital raise, Allegiancy’s expansion has included the June 1, 2015 acquisition of Houston-based TriStone Realty Management that increased the commercial real estate portfolio under the firm’s management to $1 billion. To read more about the merger, click here.

Allegiancy is an asset management firm for commercial real estate owners and investors with a technology-enabled operating platform and focus on serving as the owners’ advocate. Since 2014, the company has expanded its assets under management by 400 percent with a combination of organic growth and corporate acquisitions. Allegiancy plans to accelerate this growth by acquiring more companies, securing additional asset management contracts, hiring more employees, and continuing to improve its proprietary technology for the benefit of property owners.