Chicago -- L3 Capital, a Chicago-based real estate investment firm focused on institutional-grade urban retail properties, has announced that Whitney Pickett and Paul Szigetvari have joined the firm as associates.

“We’re hiring high-caliber professionals as our retail portfolio continues to grow,” said Greg Schott, principal at L3. “Paul brings tremendous financial expertise to our firm and has actively managed more than $650 million in portfolio investments. Whitney is uniquely qualified in the retail sector, having overseen a portfolio of open-air centers, lifestyle centers and super regional malls. We are excited to welcome them into the fold.”

During her five years at Heitman Capital Management LLC, Pickett rose from portfolio accountant to senior portfolio accountant. She has a bachelor’s degree in accountancy from the University of Illinois at Urbana-Champaign.

Szigetvari most recently was a financial analyst for The Carlyle Group in Washington, D.C. Prior to this position, he was a financial analyst for Ventas Inc. in Chicago. Szigetvari is a chartered financial analyst with a bachelor’s degree in finance from the University of Iowa.

L3 Capital focuses on prime urban and infill retail assets in the $10-$100 million price range. The firm’s portfolio includes single-tenant, multi-tenant and mixed-use properties in Boston, New York, Washington, D.C., Miami, Chicago, Los Angeles, and San Francisco.

Formed three years ago in Chicago, the firm has been steadily active in the New York and Los Angeles markets, recently completing several deals in prime urban markets such as a 42,000-square-foot property purchase in New York’s SoHo neighborhood that fetched a price of $41.5 million and multiple transactions in Chicago’s Southport corridor totaling $20 million.

L3 Capital LLC is a real estate investment firm focused on institutional quality urban retail investments within first tier U.S. metropolitan markets. Based on an integrated team approach to real estate investment and management, each principal has a complementary skill set that includes acquisitions, capital markets/financing, and asset management. When properly combined, these independent skills form a competitive advantage. This combination of an operating capability with institutional investment experience creates the ability to identify inconsistencies, dislocations, value opportunities and overall superior risk-adjusted investments.