Names to Note: March/April 2019

REIT magazine: March/April 2019

William Newman, Former Nareit Chair and New Plan Founder, Dies

William Newman, the founder and former chairman of New Plan Excel Realty Trust, Inc., and a two-time Nareit chair, passed away at the age of 92.

Newman served as Nareit chair in 1991 and 1992. He also won Nareit’s Industry Leadership Award in 1995.

After studying as an accountant at Baruch College and earning his CPA, Newman joined his father’s accounting firm. By 1972, he transformed the firm into New Plan Excel Realty Trust, Inc. As CEO and chairman, he built the company into one of the nation’s largest real estate corporations focused on community neighborhood shopping centers. The company became the first listed REIT to top the $1 billion equity market cap level. New Plan Excel Realty Trust was sold in 2007 to Australia’s Centro Properties Group.

Newman also served as a trustee of The Baruch College Fund from 1993 to 2012 and as a trustee emeritus until his passing.

Apple Hospitality REIT, Inc. (NYSE: APLE) announced that Executive Vice President and Chief Legal Officer David Buckley plans to retire on April 15. Buckley has been with the Apple REIT companies for almost 15 years. His replacement is Matthew Rash, who intends to join the company as senior vice president and general counsel on March 18.

Broadstone Real Estate, LLC announced that Curtis Walker has joined the firm as senior vice president, acquisitions, focused on Broadtree Residential, Inc., a private REIT managed by Broadstone.

Federal Realty Investment Trust (NYSE: FRT) said Lance Billingsley, a 30-year industry veteran, is joining the company as vice president–anchor leasing, to further support expansion of the leasing platform in the East Coast region.

Simon Property Group (NYSE: SPG) said Richard Sokolov will serve as vice chairman. He previously held the roles of president and COO. His day-to-day responsibilities will be assumed by the existing senior executive team at Simon.

Invitation Homes Inc. (NYSE: INVH) named co-founder Dallas Tanner president and CEO and a member of the company’s board of directors. Tanner previously served as executive vice president and chief investment officer and had been serving as interim president since August 2018 while Fred Tuomi, former president and CEO, took a personal leave of absence.

Ventas, Inc. (NYSE: VTR) announced two appointments to its senior leadership team: Bhavana Devulapally was named chief information officer and senior vice president; and Juan Sanabria was named vice president, investor relations. Devulapally joins Ventas from Hyatt Hotels Corp. Sanabria joins Ventas from Bank of America Merrill Lynch, where he served as director of equity research.

Meanwhile, Ventas Chairman and CEO Debra Cafaro was inducted into the American Seniors Housing Association’s Senior Living Hall of Fame, in recognition of her industry vision, innovation, and foresight.

Brixmor Property Group Inc. (NYSE: BRX) promoted Matthew Ryan to executive vice president–president, South.

UDR, Inc. (NYSE: UDR) appointed Jerry Davis, the company’s senior vice president–COO, as president and COO. Davis had been serving as senior vice president–COO since February 2013.

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