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Names to Note
[January/February 2003]

Archstone-Smith (NYSE: ASN) named James D. Rosenberg president of its Charles E. Smith Division. Rosenberg was most recently president and chief operating officer of Winston Hotels, Inc. (NYSE: WXH). Chief executive officer Bob Winston will assume the COO responsibilities at Winston.

Associated Estates Realty Corporation (NYSE: AEC) was selected by Multifamily Executive magazine as the recipient of its 2002 Community Service Award. The award is presented annually and recognizes a company that has taken an active role in local or national markets by offering time, services, people and resources for charitable causes. Nominees were also judged on the impact of the service to the surrounding community.

Thomas J. O’Keefe joined Cedar Income Fund, Ltd. (Nasdaq: CEDR) as chief financial officer.

Cousins Properties, Inc. (NYSE: CUZ) appointed Jack Minter senior vice president and director of investments. Also, Steve Yenser joined the company as senior vice president and director of leasing—retail division.

Chief financial officer Jerry R. Crenshaw, Jr. was promoted to executive vice president of Crescent Real Estate Equities Company (NYSE: CEI).

David Voigt was appointed national solutions leader for Deloitte & Touche LLP’s Real Estate, Hospitality and Construction Industry consulting practice.

Equity Office Properties Trust (NYSE: EOP) named Richard D. Kincaid president and trustee of the company. In addition, the board named Kincaid chief executive officer effective April 2003. Chairman Sam Zell had been filling the CEO role since the resignation of Tim Callahan in April 2002.

As part of Health Care Property Investors, Inc.’s (NYSE: HCP) management succession plan, chairman, president and chief executive officer Kenneth B. Roath will transfer certain operating responsibilities to James F. Flaherty III, who was elected to the position of president and chief operating officer.

Hospitality Properties Trust (NYSE: HPT) promoted treasurer and chief financial officer Thomas M. O’Brien to executive vice president. Mark L. Kleifges succeeds O’Brien as treasurer and CFO.

Following the merger of MeriStar Hospitality Corporation (NYSE: MHX) and Interstate Hotels & Resorts (NYSE: IHR), the two companies are now splitting management responsibilities. John Emery will focus solely on Interstate as president and chief operating officer and a member of its board of directors. Jim Calder will continue to serve as chief financial officer of Interstate. Bruce Wiles was promoted to chief operating officer of MeriStar, and Donald D. Olinger joined MeriStar as chief financial officer, taking over the responsibilities for Emery.

Former NAREIT President Dies

Ralph G. Coburn, independent director of W.P. Carey & Co., died Nov. 8, 2002 at the age of 93. Coburn was president of the National Association of Real Estate Investment Trusts from 1974 to 1976. He then served as an independent director of W.P. Carey until his death.

Coburn served as a commander on Admiral Nimitz’s staff during WWII where he commanded a destroyer escort in the Pacific. In post-war civilian life he specialized in mergers and acquisitions in New York and was instrumental in the modern development of real estate investment trusts.

B. Wayne Hughes, chief executive officer and co-founder of Public Storage, Inc. (NYSE: PSA), announced his retirement in November 2002. Ronald L. Havner was elected as chief executive officer to succeed Hughes as CEO, who will remain as chairman of the company’s board of directors.

Douglas A. McGregor, vice chairman and chief operating officer of The Rouse Company (NYSE: RSE), retired in September 2002. Jerome D. Smalley was elected to succeed McGregor. The company also promoted eight vice presidents to senior vice president in conjunction with merging its development and operations division into one new asset management group. Those promoted were: Patricia H. Dayton, treasurer; Melanie M. Lundquist, controller; Gordon H. Glenn, general counsel; John G. Mclaughlin, asset manager; Michael J. Bryant, asset manager; Thomas M. Fitzpatrick, asset manager; William Y. Hecht, retail leasing; and F. Scott Ball, retail leasing.

Al Lerner, founder and chairman of Town & Country Trust (NYSE: TCT), died Oct. 23, 2002 at the age of 69. Lerner was also owner of the Cleveland Browns football team and chairman and chief executive of MBNA Corp.

Raymond J. Lewis joined Ventas, Inc. (NYSE: VTR) as senior vice president and chief investment officer.

Gordon F. DuGan, former head of acquisitions, was promoted to the position of co-chief executive officer of W.P Carey & Co.

2002 November / December September / October July / August May / June March / April January / February
2001 November / December September / October July / August May / June March / April January / February
2000 November / December September / October July / August May / June March / April  


Real Estate Portfolio® is the magazine for REITs and real estate investment.

It is published bimonthly by the National Association of Real Estate Investment Trusts® (NAREIT),
1875 I Street, NW, Suite 600, Washington, DC 20006–5413.
Phone 202-739-9400.