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.
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