December 2014 – Briefs/People
- Nov 25, 2014
Rollins Out, Kahlbaugh In as Campus Crest Begins Strategic Repositioning
Campus Crest Communities Inc., one of the largest developers and managers of student housing in the nation, is stopping its construction activities and moving ahead with a major acquisition in a shakeup at the REIT that included the resignation of CEO & company co-founder Ted Rollins and CFO Donnie Bobbitt. The strategic restructuring comes as the board of directors of the Charlotte, N.C.-based company announced disappointing third-quarter results. The board named Richard Kahlbaugh, who had been lead independent director, to take over immediately as executive chairman & interim CEO. Although Bobbitt stepped down as CFO he is remaining as a transition advisor and reports to Kahlbaugh. Scott Rochon, the Chief Accounting Officer, was named CFO as well.
SL Green Names DiLiberto as CFO
Starting Jan. 1, 2015, New York City’s largest commercial owner will have a new CFO. Matthew DiLiberto will be taking over the post from James Mead, who is “leaving to pursue other professional interests,” according to a company release. DiLiberto has been with SL Green since 2004. Prior to this promotion, he had been the company’s chief accounting officer and treasurer. Before joining the REIT, DiLiberto served for four years as a controller and director of information management for Chelsea Property Group, which is now a division of Simon Property Group. In addition, he has held posts at Vornado Realty Trust and Coopers and Lybrand L.L.P., the predecessor to PricewaterhouseCoopers L.L.P.
Cresa Brings Travers into the Fold
Travers Realty Corp. has merged with the Southern California offices of Boston-based Cresa to form a powerhouse tenant representation firm with nearly 150 local employees and more than 1,000 internationally. Travers Realty founder James Travers will become managing principal and a member of the Cresa Los Angeles board of directors. The merger will bring 32 brokerage professionals to Cresa’s operations in Los Angeles and Orange Counties with offices in West Los Angeles, Woodland Hills and Newport Beach. Cresa will maintain the current Travers Realty headquarters in downtown Los Angeles, which will be rebranded Travers Cresa.
Warwick Joins Compass Real Estate as CIO
Industry veteran Jeff Warwick has joined Compass Real Estate as chief investment officer & partner. He will be tasked with leading investment sourcing and capital allocation efforts at the firm. For 20 years, Warwick served in executive leadership positions with Bank of American Merrill Lynch. He has led capital advisory, IPO/M&A, investment and commercial banking, and client management services for hundreds of the largest U.S. public and private real estate companies. Over the course of his career, Warwick has closed more than $50 billion in real estate capital transactions throughout North America.
Edwards Joins Greystone as CMBS Managing Director
Erik Edwards has joined Greystone as a managing director. Based out of San Diego, Edwards will report to Robert Russel, head of production within the CMBS Group, and is tasked with originating new loans and establishing a strong CMBS presence in the West. He brings 12 years of experience and more than $2 billion in transactions to the post. Prior to joining Greystone, Edwards was a vice president with Wells Fargo’s Real Estate Capital Markets Group. He has also held positions with iStar Financial and Cushman & Wakefield Inc.
Interwest Capital Adds Meredith as Director of Acquisitions
Private equity firm Interwest Capital Corp. has added Chris Meredith as director of acquisitions. He will be tasked with sourcing new acquisitions, joint venture development and equity relationships. Meredith has done time with Portfolio International Holdings, Babcock and Brown, and CBRE Group Inc. Over the course of his career, he has developed, repositioned, financed and capitalized development and investment properties totaling more than $500 million of residential, hospitality and mixed-use real estate. At Interwest, he will be on the hunt for new ground-up development, value-added and opportunistic investing opportunities in the $20 million to $150 million range in multi-family, seniors housing and hospitality. Meredith will also be looking to provide capital to urban infill mixed-use redevelopment opportunities in core markets throughout the U.S.
Ross Named CFO of Behringer Harvard Opportunity REIT I
Behringer has announced that Lisa Ross has been elected the CFO of Behringer Harvard Opportunity REIT I Inc. by the company’s board. She will continue to serve as senior vice president and treasurer for the REIT, positions she has held since October 2013 and January 2012, respectively. Ross began her tenure back in January 2011 as senior controller and director of financial reporting. Prior to that, Ross worked from 2006 to 2010 as the controller for a private real estate development project. From 1996 to 2005, Ross was partnership controller for The Hampstead Group, a privately held real estate investment company.
CBRE Names Stoffers Global President, Debt & Structured Finance
CBRE Group Inc. has appointed Brian Stoffers as global president, debt and structured finance. The 30-year veteran of CBRE previously served as president, debt and structured finance, Americas and COO, capital markets. The promotion is part of CBRE’s overall growth strategy and global unification of its capital markets business. With Stoffer’s promotion, Jeff Majewski will be named COO, capital markets, Americas. Under Stoffer’s leadership, CBRE’s debt and structured finance practice has originated nearly $112 billion in loan volume since 2007.