CENTURY CITY-BASED REAL ESTATE DEVELOPMENT AND INVESTMENT FIRM LAURUS CORPORATION NAMES PHILIP W. CYBURT AS CHIEF EXECUTIVE OFFICER

Laurus Corporation, a private real estate investment and development firm headquartered in Century City, has named well known real estate executive Philip W. Cyburt as Chief Executive Officer.  With more than 26 years of experience, Cyburt brings a wealth of experience and relationships within the financial and real estate industries.   His experience includes senior positions at major companies – Alvarez and Marsal, Lehman Brothers and Boeing Corporation – where he was responsible for the management of vast global real estate and development portfolios.

“We are delighted to have such a seasoned real estate executive join our team”, said Andres Szita, Chairman of Laurus Corporation. “Especially at a time when real
estate values remain historically low presenting tremendous opportunities for a well-versed real estate investment firm like Laurus to acquire attractive assets.”

“Philip’s extensive knowledge of and experience in corporate restructuring, capital investment, acquisition, development and disposition of billions of dollars in real estate transactions will be tremendously valuable to our continued growth,” Jean Paul Szita, President and Chief Financial Officer, added.

Cyburt most recently was Managing Director of Alvarez and Marsal, LLC, a leading global professional advisory firm.  At the same time, he served as interim CEO of Lehman Brothers Holdings real estate division.  In that position, he managed a debt and equity portfolio consisting of more than $23 billion of assets.    

As President of Boeing Realty Corporation for six years, Cyburt successfully directed the company’s $9 billion real estate portfolio comprised of 125 million square feet
in 26 states and 63 countries.  In addition, he spearheaded Boeing’s relocation of its world headquarters from Seattle to Chicago.  Earlier he served as President of McDonnell Douglas Realty Company, which serviced and restructured
a $750 million commercial real estate loan portfolio.  The portfolio of nonperforming loans and REO properties included office, industrial, retail and hotels located throughout the United States. 

As Co-Founder and Managing Director of Cyburt Hall Partners during the period of 2003 through 2009, Cyburt invested, developed and operated approximately $250 million of commercial real estate investments.  Earlier in his career, he was with Tishman Realty and Construction and a regional brokerage firm, Lee and Associates.

Cyburt received a B.S. degree from Chapman University and has pursued graduate courses at Chapman University, Pepperdine University’s Executive MBA Program and the
investment real estate certificate program at the University of California, Irvine.