Mexico-based Vesta Industrial Real Estate Fund said its current board proprietary members, Marlene Holmes and Enrique Lorente, will be succeeded by Thomas McDonald and Craig Wieland, who will hold nonindependent and independent status at the company, respectively.
McDonald, managing partner and founder of Jaguar Growth Partners LLC, will also be a part of the company's investment committee. Jaguar owns a 5% strategic minority stake in Vesta.
Wieland, president of The Wieland Corp., will relinquish his role as an alternate board member, paving the way for Lorente to assume his mantle.
Additionally, the board brought in Douglas Arthur, who serves as president and CEO of SENTRE, as a new alternate board member.