October – Briefs/People
- Sep 25, 2013
Prudential Taps Adler as New CEO
Prudential Real Estate Investors has promoted chief investment officer Eric Adler to the CEO position, following the departure of current CEO Allen Smith, who after 26 years of service has left to become CEO of Four Seasons Hotels and Resorts.
Adler joined the company in 2010 as head of European operations. He was promoted to CIO in January 2013 to oversee the company’s global investment and risk management processes as part of the company’s long-term succession plan. As CIO, he serves on PREI’s global management and global operating committees and chairs the global investment committee. Adler previously worked at Tishman Speyer Properties L.P. and Morgan Stanley.
Washington REIT Names McDermott CEO
The board of trustees of Washington Real Estate Investment Trust has appointed Paul McDermott as the company’s new president & CEO. McDermott, who will also serve on the board of trustees, succeeded George McKenzie, who had served as president & CEO of the company since 2007. McDermott comes to the firm from The Rockefeller Group, where he was senior vice president, managing director and also tasked with leading the domestic acquisitions team for Rockefeller Group Investment Management Corp. Prior to joining The Rockefeller Group, he served from 2006 to 2010 as principal & chief transaction officer at PNC Realty Investors.
JLL Buys Houston’s Means Knaus Partners
Jones Lang LaSalle Inc. has acquired Means Knaus Partners, a property management company headquartered in Houston with about 16 million square feet of office space under management, primarily in Chicago, Dallas, Denver, Houston, Los Angeles, Orlando and Tampa. Financial terms of the transaction were not disclosed. Doug Knaus, the CEO of Means Knaus Partners, will join Jones Lang LaSalle Inc. as an international director; Robert Nowak, Means Knaus’ COO, will become a Jones Lang LaSalle managing director; and the nearly 100 other Means Knaus employees will also join Jones Lang LaSalle.
CBRE Promotes Axford to Global Head of Research
CBRE Group Inc. has named Dr. Nick Axford global head of research, a new position. Axford was the head of research for CBRE Group Inc.’s Asia-Pacific business. The new role will involve managing the operations of CBRE Global Research, and will have Axford establish a plan that supports the company’s priorities and growth agenda. Axford is a 23-year industry veteran and had led CBRE Group Inc.’s research team in Europe, the Middle East and Africa from 1998 to 2010.
Sabshon Named CEO of IREIC
Inland Real Estate Investment Corp. named Mitchell Sabshon as the new CEO. He succeeded Robert Parks, who will continue on as chairman. Sabshon, who joined Inland Real Estate Investment Corp. in mid-August, will be tasked with capitalizing on new growth opportunities, including developing new real estate investment products, and will expand its reach into new markets and distribution channels. Sabshon comes to the firm from Cole Real Estate Investments, where he served as COO. Prior to that, Sabshon held several senior executive positions at leading financial services firms, including 10 years at Goldman, Sachs & Co. in various leadership positions, including president & CEO of Goldman Sachs Commercial Mortgage Capital.
Fleming Joins Columbia Property Trust as CFO
Columbia Property Trust has appointed James Fleming as executive vice president & CFO. He will oversee the finance, treasury, investor relations and financial reporting divisions of the company, and will manage all debt capital market activities. Fleming has more than three decades of commercial real estate experience, serving most recently as executive vice president & CFO for Schottenstein Property Group, a national shopping center owner-operator. Prior to that, he worked at Cousins Properties Inc. in various capacities, including as executive vice president & CFO.
Aimco Promotes Bezzant to CIO
Veteran Aimco team member John Bezzant has been promoted to the role of chief investment officer. He was previously an executive vice president, and will retain that title, as well. The new role will have Bezzant continue to oversee the portfolio management, including dispositions, acquisitions and capital investments, and will add redevelopment to his responsibilities. Bezzant began his career with Aimco in 2006 as a senior vice president of redevelopment. At that time, he brought more than 20 years of real estate experience to the firm.
Suchman Joins CBRE as Chief Marketing Officer
CBRE Group Inc. has appointed Paul Suchman as the company’s chief marketing officer, a newly created position. Suchman, who joins CBRE Group Inc. from BBDO NY, where he served as an executive vice president, will be tasked with overseeing the company’s global marketing functions and activities. More specifically, Suchman will be responsible for CBRE Group Inc.’s global brand positioning and stewardship, digital marketing and social media, creative platform development, and local office public relations and service line marketing. He brings more than 20 years of business-to-business marketing and branding experience to the firm.
USAA Appoints Hime CFO
USAA Real Estate Co. has named Jim Hime as the company’s new CFO. He will be responsible for various financial elements of the company’s business, including financial structuring, the management of debt strategies, liquidity management and investment performance. Hime joined USAA Real Estate Co. from the Abu Dhabi Investment Authority, where he was employed for three years as CFO of the real estate and infrastructure department. Before joining the Abu Dhabi Investment Authority, Hime was with The Lionstone Group. Earlier, he was co-founder & managing director of Hawkeye Partners, a real estate private equity firm.