Douglas W. Shorenstein | |
---|---|
Born | |
Died | November 24, 2015 | (aged 60)
Nationality | American |
Education | B.A.
University of California, Berkeley J.D. University of California, Hastings College of the Law |
Occupation | Real estate development |
Known for | Chairman of the board of directors of the
Federal Reserve Bank of San Francisco CEO of Shorenstein Properties |
Spouse | Lydia Preisler |
Children | 3 |
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 [1] [2] and former chairman of the board of directors of the Federal Reserve Bank of San Francisco. [3]
Shorenstein was one of three children born, in San Francisco, California, on February 10, 1955, [4] to real estate developer Walter Shorenstein [5] and Phyllis Finley. [6] His father was born Jewish and his mother underwent conversion to Judaism. [7] He had two sisters: Broadway producer Carole Shorenstein Hays and CBS news producer and The 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. [8]
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. [8] In 1983, he moved back to San Francisco and joined his father's real estate development company, Shorenstein Properties. [8] In 1995, he was appointed chairman and CEO. [9] [10] Under his tutelage, he transitioned the company from a traditional local based real estate developer to a national real estate investment company [8] with more than 70 properties in 13 cities including Los Angeles, Portland, Oregon and Manhattan. [11] By 2006, Shorenstein Properties was the 20th largest owner of office buildings in the United States. [12]
In 1991, Shorenstein Properties 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. [8] The fund had six partners, one of which was Shorenstein, and totaled $150 million. [13] 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. [8]
Shorenstein Properties, via twelve closed-end real estate funds, owns and manages 23 million square feet of office properties throughout the United States. [14]
In 2007, he was appointed to the board of the Federal Reserve Bank of San Francisco; in 2010, he was elevated to deputy chairman; and in 2011, he was appointed chairman. [15]
Shorenstein served on the board the Environmental Defense Fund; the executive council of the University of California, San Francisco Medical Center; the executive committee of The Real Estate Roundtable; and Joan Shorenstein Center on the Press, Politics and Public Policy at Harvard University's Kennedy School of Government (named in honor of his late sister). [15] In 2011, Shorenstein was inducted into the Bay Area Council's Bay Area Business Hall of Fame which "recognizes the extraordinary achievements of individuals who have advanced San Francisco Bay Area-based businesses to positions of national and international prominence." [9] In 2013, he founded the Walter Shorenstein Media and Democracy Fellow at the Kennedy School's Shorenstein Center at Harvard University in honor of his father. [16]
Shorenstein was married to Lydia Preisler; [17] they had 3 children: a son, Brandon, and two daughters, Sandra and Danielle. [18] He was a practitioner of yoga and was a collector of Southeast Asian and Nepalese art with an emphasis on Khmer and Cambodian pieces. [13] He and his wife were members of the Congregation Emanu-El (San Francisco). [19] Shorenstein died due to cancer on November 24, 2015. [3] [9]
Douglas W. Shorenstein | |
---|---|
Born | |
Died | November 24, 2015 | (aged 60)
Nationality | American |
Education | B.A.
University of California, Berkeley J.D. University of California, Hastings College of the Law |
Occupation | Real estate development |
Known for | Chairman of the board of directors of the
Federal Reserve Bank of San Francisco CEO of Shorenstein Properties |
Spouse | Lydia Preisler |
Children | 3 |
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 [1] [2] and former chairman of the board of directors of the Federal Reserve Bank of San Francisco. [3]
Shorenstein was one of three children born, in San Francisco, California, on February 10, 1955, [4] to real estate developer Walter Shorenstein [5] and Phyllis Finley. [6] His father was born Jewish and his mother underwent conversion to Judaism. [7] He had two sisters: Broadway producer Carole Shorenstein Hays and CBS news producer and The 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. [8]
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. [8] In 1983, he moved back to San Francisco and joined his father's real estate development company, Shorenstein Properties. [8] In 1995, he was appointed chairman and CEO. [9] [10] Under his tutelage, he transitioned the company from a traditional local based real estate developer to a national real estate investment company [8] with more than 70 properties in 13 cities including Los Angeles, Portland, Oregon and Manhattan. [11] By 2006, Shorenstein Properties was the 20th largest owner of office buildings in the United States. [12]
In 1991, Shorenstein Properties 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. [8] The fund had six partners, one of which was Shorenstein, and totaled $150 million. [13] 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. [8]
Shorenstein Properties, via twelve closed-end real estate funds, owns and manages 23 million square feet of office properties throughout the United States. [14]
In 2007, he was appointed to the board of the Federal Reserve Bank of San Francisco; in 2010, he was elevated to deputy chairman; and in 2011, he was appointed chairman. [15]
Shorenstein served on the board the Environmental Defense Fund; the executive council of the University of California, San Francisco Medical Center; the executive committee of The Real Estate Roundtable; and Joan Shorenstein Center on the Press, Politics and Public Policy at Harvard University's Kennedy School of Government (named in honor of his late sister). [15] In 2011, Shorenstein was inducted into the Bay Area Council's Bay Area Business Hall of Fame which "recognizes the extraordinary achievements of individuals who have advanced San Francisco Bay Area-based businesses to positions of national and international prominence." [9] In 2013, he founded the Walter Shorenstein Media and Democracy Fellow at the Kennedy School's Shorenstein Center at Harvard University in honor of his father. [16]
Shorenstein was married to Lydia Preisler; [17] they had 3 children: a son, Brandon, and two daughters, Sandra and Danielle. [18] He was a practitioner of yoga and was a collector of Southeast Asian and Nepalese art with an emphasis on Khmer and Cambodian pieces. [13] He and his wife were members of the Congregation Emanu-El (San Francisco). [19] Shorenstein died due to cancer on November 24, 2015. [3] [9]