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 COO of multifamily-focused REIT Equity Residential David Santee will step down June 30 and retire by year-end. He will be replaced by Michael Manelis, executive vice president of property operations, as COO on July 1.
Board shuffle
* Hotel REIT American Hotel Income Properties REIT LP named board member Charles van der Lee as its lead independent director.
* Steven Joyce, president of Jetport Inc. and CEO of Fox Harb'r Golf Resort & Spa, joined the board of diversified REIT Artis Real Estate Investment Trust as an independent trustee.
* Jeffrey Kohn resigned as a director of office-focused REIT City Office REIT Inc. March 2, following a disagreement with the CEO and board over the sale of REIT units.
* DCT Industrial Trust Inc. director John O'Keeffe will not stand for re-election to the board of the industrial REIT at its annual meeting of stockholders May 3.
Other news
* Homebuilding producer William Lyon Homes appointed Brian Hale as president for financial services. Hale most recently worked as CEO and a member of the board of Stearns Lending LLC.
* A 48-person team of commercial real estate professionals joined real estate services company CBRE Group Inc.'s New England operations. The team is led by Steve Purpura and includes support staff.
* General counsel, senior vice president and secretary of healthcare-focused REIT CNL Healthcare Properties Inc. Holly Greer will step down March 16. Greer will be replaced by Tracey Bracco, assistant general counsel and assistant secretary of the company and general counsel and secretary of CNL Healthcare Properties II Inc.
