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NorthStar CEO steps down; Crown Castle executive vice chairman resigns

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NorthStar CEO steps down; Crown Castle executive vice chairman resigns

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

* Daniel Gilbert stepped down as a board member, chairman, CEO and president of NorthStar Real Estate Income, NorthStar Real Estate Income II Inc and NorthStar/RXR New York Metro Real Estate Inc, effective Dec. 15, and from Colony NorthStar Inc. and its affiliates, effective Jan. 11, 2018. Colony NorthStar Executive Vice President and Chief Investment Officer Kevin Traenkle will succeed Gilbert at NorthStar Real Estate Income and NorthStar Real Estate Income II. NorthStar/RXR named David Schwarz president, CEO and a board member as Gilbert's replacement.

Gilbert also resigned as executive chairman and a board member of NorthStar Healthcare Income Inc., where President and CEO Ronald Jeanneault was tapped to assume the vice chairman role, and Robert Gatenio was promoted to executive board chairman from vice chairman.

Board shuffle

* W. Benjamin Moreland will step down as executive vice chairman of Crown Castle International Corp. on Dec. 31, but he will continue to serve as a director.

* Parking REIT Inc. elected MVP REIT independent directors Robert Aalberts, Nicholas Nilsen and Shawn Nelson to serve in the same roles, after the successful merger of MVP REIT and MVP REIT II, increasing its board size to eight.

* Equity LifeStyle Properties Inc.'s Matthew Williams resigned from the board Dec. 18, following his cessation as CEO of The Martin Agency.

* Slate Office REIT board of trustees member Al Mawani stepped down to focus on his other recent board appointments and nonprofit sector activities.

* Rayonier Inc. chose Keith Bass to fill a vacancy created by the Dec. 11 resignation of John Blumberg on its board of directors. Bass is a managing partner of private investment firm Mill Creek Capital LLC and a board member of Xenia Hotels & Resorts Inc.

Other news

* Paramount Group Inc. tapped Peter Brindley to serve as executive vice president of leasing, replacing Theodore Koltis, who will leave the company.

* Potlatch Corp. promoted Darin Ball to vice president of resource, effective Dec. 11, to lead Potlatch and Deltic's diverse timberland portfolio. Ball currently works as Idaho resource manager for the company.

* Evercore ISI, Research Division real estate investment trust analyst Gwen Clark will leave the company Dec. 31 to pursue an industry job.

* Wheeler Real Estate Investment Trust Inc. ended Robin Hanisch's employment as corporate secretary, effective Dec. 31.