Cornerstone Taps CBRE GMM’s Brown as President

There will soon be a new president onboard at Cornerstone Real Estate Advisers. The global real estate investment manager's succession planning process has resulted in the tapping of longtime real estate industry executive Scott Brown to step into the position.

Cornerstone - Scott BrownThere will soon be a new president onboard at Cornerstone Real Estate Advisers. The global real estate investment manager’s succession planning process has resulted in the tapping of longtime real estate industry executive Scott Brown to step into the position.

Brown, snapped up from his job as Head of the Americas at CBRE Global Multi Manager, will be charged with assisting Cornerstone in the facilitation of its domestic and global expansion plans. He comes to the table well-prepared, boasting a 26-year history in the real estate business that includes major transactions involving everything from joint ventures and co-investments to performing and non-performing debt to REITs and funds.

Brown begins his duties effective Feb. 3, taking the responsibilities of president off the hands of Cornerstone CEO, David Reilly.

“Scott has a sterling reputation in the industry and I personally look forward to working closely with him as Cornerstone enters its next phase of growth,” Reilly shared in a prepared statement.

It’s been a busy few months of executive appointments in the commercial real estate arena. Earlier in January, Jones Lang LaSalle announced it had promoted Greg O’Brien to CEO, Americas. That news came on the heels of other big executive changes in the industry, including Cushman & Wakefield Inc.’s selection of Edward Forst to serve as president and CEO, replacing Glenn Rufrano, who had resigned from the position six months earlier. American Realty Capital Properties Inc. found a new president in David Kay, former chief investment officer and CFO at Capital Automotive Real Estate Services Inc. And the list goes on.