Each month, Nareit highlights recent executive career moves, board changes, and other notable individual achievements within the REIT and publicly listed real estate market.
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Alpine Income Property Trust, Inc. (NYSE: PINE) announced that Jeffrey Yarckin resigned from the company’s board of directors. The company also said Brenna Wadleigh was appointed to the board. Wadleigh has served as CEO of N3 Real Estate, a real estate development and investment firm based in Southlake, Texas, since 2015.
Healthcare Realty Trust Inc. (NYSE: HR) said Todd Meredith stepped down as president and CEO, and as a member of the board of directors. The board appointed Constance “Connie” Moore, Healthcare Realty board member and former president and CEO of BRE Properties, Inc., as interim president and CEO. The board has formed a committee to oversee the permanent president and CEO search and intends to engage a leading executive search firm to assist in the process. Additionally, the board has reduced its size from 12 to 11 members.
Howard Hughes Holdings Inc. (NYSE: HHH) announced the appointment of real estate industry veteran Jose Bustamante as president of the Nevada region, where he will lead the 22,500-acre Howard Hughes community of Summerlin® in Las Vegas. Bustamante most recently served as senior vice president and partner at Lincoln Property Company.
Macerich (NYSE: MAC) said Daniel Swanstrom II is the REIT’s new CFO. Scott Kingsmore, the previous CFO, has transitioned to the role of senior advisor and will remain with the company through Dec. 31 to assist in the transition. Jack Hsieh, Macerich’s CEO, said Swanstrom “brings an excellent background to Macerich with over 20 years of experience in real estate, both as a CFO of two public REITs and as a former investment banker with Morgan Stanley.”
After more than 30 years of leadership, W. Andrew "Andy" Adams notified the board of directors of National Health Investors, Inc. (NYSE: NHI) that he plans to retire as chairman of the board effective Dec. 31. Adams founded the company in 1991 and has served as chairman since inception. He served as both president and CEO since the founding and until his retirement as president in February 2009 and as CEO in March 2011.
Brian Mitts resigned, effective Dec. 31, from his positions as CFO, executive vice president-finance, secretary, and treasurer of NexPoint Residential Trust, Inc. (NYSE: NXRT). Mitts will continue to serve as a member of the board of directors. NexPoint Real Estate Advisors, L.P. has named Paul Richards as his successor. In the more than 12 years Mitts spent at the firm, he helped NexPoint list several public REITs and grow the real estate business into a multibillion-dollar platform operating across asset classes and property sectors, NexPoint said.
Sun Communities, Inc. (NYSE: SUI) announced a comprehensive restructuring effort to more effectively align the company’s cost structure and deliver sustainable earnings growth. As part of that effort, John McLaren is returning to the company full-time as president to oversee the restructuring and the execution of these initiatives. McLaren has been with Sun for 22 years and was COO for 14 years through mid-2022. In addition, Gary Shiffman informed the board of his intention to retire in 2025, following more than 40 years of service. Shiffman intends to remain on the board.
Whitestone REIT (NYSE: WSR) appointed Kristian “Krissy” Gathright and Donald “Don” Miller, to the board of trustees. These appointments reflect shareholder feedback received over the last several months and conclude an exhaustive search by Whitestone’s Nominating and Governance Committee in combination with executive search firm Spencer Stuart, the REIT said. In connection with these two appointments, Nandita Berry and David Taylor have stepped down from the board.