Jeffrey L. Johnson, Managing Principal, Reunion Office Holdings
Wednesday, February 9, 2011
Jeffrey L. Johnson, 51, is the Managing Principal of Reunion Office Holdings. Prior to forming Reunion Office Holdings, from 2003 to 2007, Mr. Johnson was Chief Investment Officer, and Chairman of the Investment Committee for Equity Office Properties Trust (NYSE: EOP). Mr. Johnson restructured the Investment group and implemented an investment strategy that resulted in over $12.5 billion in transaction volume, providing capital for a $2.6 billion Equity Office stock repurchase at an average purchase price of $31.16 per share. He was developing a strategy for international investment when he became involved in Equity Office’s sale to the Blackstone Group for $55.50 per share - the largest public to private transaction ever completed in the United States at that time. Equity Office’s total shareholder return was over 35% during Mr. Johnson’s most recent tenure as Chief Investment Officer.
Beginning in 2000, he was a Managing Director, founding Partner, and Co-Head of U.S. Investments for Lehman Brothers’ real estate private equity group, where he was one of six founding members that raised a $1.6 billion international, private equity real estate fund. Through July 2002, over $500 million of equity was invested in $6.9 billion of real estate with returns exceeding 30%.
From 1990 to 1999, Mr. Johnson was a senior executive at Equity Office and its predecessor entities, most recently serving as Chief Investment Officer. Mr. Johnson was instrumental in completing Equity Office’s initial public offering in July 1997, setting investment strategies and completing over $9 billion of real estate operating company transactions and property acquisitions. Mr. Johnson led the Investment team on Equity Office’s $4.3 billion merger with Beacon Properties. He established the development group, the mergers and acquisitions group and the investment management group of Equity Office. During his tenure as Chief Investment Officer, Equity Office experienced external growth of almost 200%, and per share earnings growth of over 15% per annum. In 1996, Mr. Johnson was placed in charge of the asset management department where he restructured the group and developed the valuation process in preparation of Equity Office’s initial public offering. From 1990 to 1996, he was a senior acquisitions officer where he was responsible for acquiring over $1.2 billion of office properties, or 40% of Zell/Merrill Lynch Opportunity Funds II, III, and IV. Those Funds reported an imputed return in excess of 15% per annum. After the acquisition of a portfolio from Wright-Runstad & Co., Mr. Johnson was appointed to the Board of Directors of Wright-Runstad & Co.
Prior to 1990, Mr. Johnson worked as real estate investor with Aldrich, Eastman & Waltch and First Wachovia. Mr. Johnson holds an undergraduate degree from Denison University and an M.B.A. from Northwestern University’s Kellogg School. He is the Chairman of Kellogg’s Real Estate Advisory Board, a member of the Urban Land Institute and the Chicago Commonwealth Club, and he is a Trustee of The Nature Conservancy.