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Real Estate News & Analysis: May Edition


Colony Capital, New Home name CEOs; Camden Property promotes COO

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 homebuilders.

C-suite changes

* New Home Co. Inc. tapped President and COO Leonard Miller to succeed Larry Webb as president and CEO. Webb will be appointed executive chairman, effective Aug. 30.

* Colony Capital Inc. appointed Marc Ganzi, founder and CEO of Digital Bridge Holdings LLC, to succeed Thomas Barrack Jr. as its CEO. The announcement came after Colony acquired Digital Bridge for $325 million. Barrack Jr. will return to the executive chairman position.

* LIG Assets Inc. tapped Dakota Forgione to replace Alan Gillis as its CEO. Forgione will also join the board of the real estate services company, along with Robert Linagen.

* Multifamily REIT Camden Property Trust promoted D. Keith Oden from president to executive vice chairman and H. Malcolm Stewart from COO to president and COO.

Board shuffle

* Outlet center REIT Tanger Factory Outlet Centers Inc. said David Henry succeeded Thomas Reddin as nonexecutive chairman of its board, and Luis Ubiñas, president of the Pan American Development Foundation Inc., was appointed as a director. Independent directors Allan Schuman, William Benton and Thomas Robinson will retire in May 2020.

* Self-storage REIT Public Storage added Tariq Shaukat, president of Partner and Industry Platforms for Google Cloud at Alphabet Inc. unit Google LLC, to its board.

* Healthcare REIT Ventas Inc. added former CEO of clinical-stage gene therapy company AveXis Inc., Sean Nolan, as an independent director to its board.

Other news

* Piedmont Office Realty Trust Inc. promoted George Wells to executive vice president of real estate operations.

* Vice president and chief accounting officer of Equity LifeStyle Properties Inc., Valerie Henry, added on the position of principal accounting officer of the manufactured-home REIT, effective July 30.

* National Health Investors Inc. appointed Dana Hambly as its director of investors relations, replacing Colleen Schaller, who will become manager of real estate transaction.