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Prime City One Capital names CEO; iStar appoints president, CFO


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Prime City One Capital names CEO; iStar appoints president, CFO

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

* Canadian property developer Prime City One Capital Corp. named corporate finance lawyer David Carbonaro, a principal and general counsel to the Gravitas Group of Cos. and counsel at Dentons Canada LLP, its CEO, president and a director.

* IStar Inc. tapped Marcos Alvarado, its chief investment officer, to add the responsibilities of company president. The diversified REIT also made its interim CFO Andrew Richardson permanent.

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Rob McGibney, KB Home
Source: KB Home

* CorEnergy Infrastructure Trust Inc. said Nate Poundstone will step down as senior vice president and chief accounting officer July 12 to accept a position at another company. The energy infrastructure REIT tapped Senior Vice President, Secretary and Treasurer Rebecca Sandring to serve as interim chief accounting officer.

Board shuffle

* Commercial real estate-focused Oaktree Real Estate Income Trust Inc. filled a vacancy on its board with the appointment of Wade Hundley as an independent director, effective June 26. Hundley is co-founder and a managing partner at property development companies Moab Development LLC and Moab Medical Development Partners.

Other news

* Homebuilder KB Home appointed Rob McGibney regional president for its Southwest markets. McGibney, a member of the Home Builders Association of Central Arizona, will oversee the company's local teams and operations across the states of Arizona and Nevada.