Douglas W. Shorenstein
| Douglas W. Shorenstein | |
|---|---|
| Born | February 10, 1955 San Francisco, California |
| Died | November 24, 2015 (aged 60) |
| Cause of death | cancer |
| Nationality | United States |
| Education | B.A. University of California, Berkeley J.D. University of California, Hastings College of the Law |
| Occupation | real estate developer |
| Known for | Chairman of the board of directors of the Federal Reserve Bank of San Francisco |
| Spouse(s) | Lydia Preisler |
| Children | Brandon, Sandra, Danielle |
| Parent(s) | Phyllis Finley Shorenstein Walter Shorenstein |
| Family |
Carole Shorenstein Hays (sister) Joan Shorenstein (sister) |
Douglas W. Shorenstein (February 10, 1955 – November 24, 2015) was a San Francisco-based real estate developer and former chairman of the board of directors of the Federal Reserve Bank of San Francisco.
Shorenstein was one of three children born, in San Francisco, California, on February 10, 1955, to real estate developer Walter Shorenstein and Phyllis Finley. His father was born Jewish and his mother converted to Judaism. He had two sisters: Broadway producer Carole Shorenstein Hays and CBS news producer and Washington Post journalist Joan Shorenstein (who died of cancer in 1985). He graduated with a B.A. from the University of California, Berkeley and with a J.D. from the University of California, Hastings College of the Law.
In 1980, he moved to New York City where he worked for three years in the real estate department of the law firm Shearman & Sterling LLP. In 1983, he moved back to San Francisco and joined his father's real estate development company, Shorenstein Properties LLC. In 1995, he was appointed chairman and CEO. Under his tutelage, he transitioned the company from a traditional local based real estate developer to a national real estate investment company with more than 70 properties in 13 cities including Los Angeles, Portland, Oregon and Manhattan. By 2006, Shorenstein Properties was the 20th largest owner of office buildings in the United States.
In 1991, Shorenstein Properties LLC started its first closed-end fund tasked with making real estate investments nationally and requiring a minimum $25 million investment and a 20-year commitment. The fund had six partners, one of which was Shorenstein, and totaled $150 million. After the death of his father, he bought out his sister's interest and shifted the company to a pure fund platform with each fund typically being composed of 10-15% of his own money. As of 2013, Shorenstein properties, via ten separate investment funds, owns and manages 23.8 million square feet of office properties valued at $7 billion.
...
Wikipedia