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CAPREIT CEO to step down; First Capital adds Gazit-Globe CEO to 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 homebuilders.

C-suite changes

* CEO of Canadian Apartment Properties Real Estate Investment Trust David Ehrlich will retire, effective Dec. 31. Ehrlich will remain on the company's board.

Board shuffle

* First Capital Realty Inc. added CEO and vice chairman of Gazit-Globe Ltd. Chaim Katzman to its board as a director, effective immediately. Gazit-Globe Ltd. owns a 31.3% stake in the Canadian shopping center company.

* RE/MAX Holdings Inc. added CEO Adam Contos to its board.

* Colin Shepherd will resign from the board of Hines Global REIT Inc. and will be replaced by President and CEO Sherri Schugart, effective Dec. 31. Shepherd is also retiring as CEO of investment management of the REIT's sponsor Hines Interests LP.

* Taubman Centers Inc. named former McDonald's USA LLC President Jan Fields and former McKinsey & Co. Inc. senior partner Nancy Killefer to its board, in order to fill the remaining terms of current directors Jerome Chazen and Craig Hatkoff, who will resign Jan. 15, 2019.

* Raymond Brandstrom will resign from the board of Red Lion Hotels Corp. effective Dec. 31.

* Leon Schurgin retired as a director of Agree Realty Corp. on Dec. 4.

* Effective Dec. 31, Glenn Rufrano will step down as a director of Cole Credit Property Trust V Inc., Cole Office & Industrial REIT Inc. and Cole Office & Industrial REIT (CCIT III) Inc. To replace Rufrano, Cole Credit Property Trust V and Cole Office & Industrial REIT (CCIT II) appointed Richard Ressler as a director, while Cole Office & Industrial REIT (CCIT III) appointed Avraham Shemesh.

* Robert Parsons Jr. and William Reynolds Jr. stepped down from Carey Watermark Investors Inc.'s board, but will remain independent directors at Carey Watermark Investors 2 Inc., while Charles Henry and Michael Johnson stepped down from Carey Watermark Investors 2's board, but will continue as independent directors at Carey Watermark Investors.

* Board member Paula Reynolds will not seek re-election at the 2019 annual meeting of CBRE Group Inc.

Other news

* Brixmor Property Group Inc. promoted Matthew Ryan to executive vice president and president of the company's south region, effective Jan. 1, 2019. The company tapped Lauren Bottanari to take over Ryan's role as vice president of leasing in Houston.

* Colliers International Group Inc. tapped President and COO Dylan Taylor to serve as CEO of Colliers Real Estate Services, effective Jan. 1, 2019.

* Marcus & Millichap Inc. hired Philip Assouad, Giovanni Napoli, Ryan Dinius and Sidney Warsinske from Kidder Mathews LLC for its Seattle office.