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Simon CFO to retire; Life Storage executives to step down from board

This feature presents a weekly rundown of recent significant management and board changes and personnel moves in the North American real estate industry, including U.S. real estate investment trusts and real estate operating companies, homebuilders and gaming operators.

C-suite changes

* Executive vice president and CFO of regional mall-focused REIT Simon Property Group Inc. Andrew Juster will retire at the end of 2018.

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Alyson Nakamura, Alexander & Baldwin Inc.
Source: Alexander & Baldwin Inc.

* Alexandria Real Estate Equities Inc. CFO Dean Shigenaga and regional market director for greater Boston Thomas Andrews will become co-presidents of the office-focused REIT on April 23. The REIT also appointed Jennifer Banks and Larry Diamond as co-COOs, effective April 23. Banks will continue as corporate secretary and general counsel while overseeing risk management operations, and Diamond will oversee real estate property operations while continuing as the regional market director for Maryland.

* Single tenant-focused REIT Spirit Realty Capital Inc. picked former FelCor Lodging Trust Inc. executive Michael Hughes to succeed Phil Joseph as its new executive vice president and CFO, effective April 1. The company also appointed Ricardo Rodriguez CFO of its proposed REIT spinoff Spirit MTA REIT, starting in May. Rodriguez worked most recently at Morgan Stanley.

* Donald Shassian will retire as CFO of advertising-focused REIT OUTFRONT Media Inc. in mid-2018. Shassian will assist with the selection process and the transition to his successor.

Board shuffle

* Co-founders of Life Storage Inc. Chairman Robert Attea and President Kenneth Myszka will retire from the board following the company's 2018 annual meeting of shareholders. The self-storage REIT expanded its board to eight members with the appointment of CEO David Rogers, along with Dana Hamilton, former director at FelCor Lodging Trust Inc., and Edward Pettinella, former president, CEO and director of Home Properties, as independent directors, effective immediately, following an agreement with shareholder Land & Buildings Investment Management LLC.

Meanwhile, Mark Barberio was elected as nonexecutive chairman of the board, effective as of the annual shareholder meeting.

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Michelle Hairston, PulteGroup Inc.
Source: PulteGroup Inc.

* Healthcare Trust of America Inc. added Vicki Booth and Roberta Bowman to its board as independent directors. Booth is president of Ueberroth Family Foundation, while Bowman, a veteran of multinational energy provider Duke Energy, is founding principal of Bowman Strategic Advisors.

* Lis Wigmore joined the board of healthcare real estate company Invesque Inc. Wigmore is a consultant for Hillsdale Investment Management and member of the board of trustees of Pure Industrial Real Estate Trust.

* President of private investment firm Clark Enterprises Inc. Robert Flanagan joined the board of net-lease REIT W. P. Carey Inc.

* Thomas Gimbel will not stand for re-election to the board of directors of farmland REIT Farmland Partners Inc. at its 2018 annual meeting of stockholders.

* James Hoffmann will not stand for re-election as independent director to the board of healthcare REIT HCP Inc. at the annual meeting of stockholders April 26.

* Peter Merlone will retire from the board of industrial REIT Terreno Realty Corp. at the conclusion of the annual general meeting May 1. The company nominated Gabriela Parcella, former chairman, president and CEO of Mellon Capital, to stand for election at the meeting.

* Healthcare facilities company Five Star Senior Living Inc. elected Adam Portnoy, CEO of RMR Group Inc., as a managing director to fill a vacancy on the board, effective March 20.

Other news

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Ralph Thiergart, Choice Hotels International Inc.
Source: Choice Hotels International Inc.

* David Cheikin resigned as executive vice president and head of the New York and Boston offices of real estate operating and management company Brookfield Property Partners LP, the Commercial Observer reported, adding that Ben Brown, a senior vice president at the company, will replace Cheikin on April 1.

* Real estate services company Marcus & Millichap Inc.'s unit Institutional Property Advisors hired Jordyn Berger as a director of its IPA-Seniors Housing group. Berger previously worked as director of acquisitions for Enlivant and acquisitions manager for healthcare REIT Ventas Inc.

* Homebuilder PulteGroup Inc. promoted Michelle Hairston to senior vice president of human resources from area vice president of human resources for the company's North area, effective April 2. Hairston will succeed James Ellinghausen, who is retiring.

* Homebuilder Beazer Homes USA Inc. hired Steward Sparks as senior vice president for corporate development. Sparks has worked as division and region president with homebuilders D.R. Horton Inc. and Lennar Corp.

* Choice Hotels International Inc. promoted Ralph Thiergart to vice president and general manager of extended-stay brands from vice president of franchise services.

* Diversified REIT Alexander & Baldwin Inc. appointed Alyson Nakamura to the new position of vice president of governance and sustainability on March 1. Nakamura sits on the board of directors of Manoa Valley Theatre and the Alexander & Baldwin Sugar Museum.

* Healthcare REIT Welltower Inc. named vice president of accounting Joshua Fieweger as its new vice president and controller, effective March 20.