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Weekly People and Company News for July 21
- Musick, Peeler & Garrett LLP said that Orange County-based partner Chet Cramin has been recognized by Los Angeles Times as a Commercial Real Estate “Visionary,” and he is profiled in the annual Commercial Real Estate Magazine. This is the second consecutive year that Cramin has been listed. Cramin was also previously named a “Professional Services Visionary” by the Los Angeles Times and recently a Top Real Estate Lawyer in California by Connect Commercial Real Estate.
- National real estate search firm RETS Associates has appointed its third partner and principal. Managing director Berkeley Davis, an 11-year veteran of the firm, has been named partner and principal, joining Kent Elliott and Jana Turner on the company’s leadership team. Since 2012, Davis has established a track record as one of RETS’ most accomplished team members, having successfully opened offices in Seattle and Denver and leading many of RETS’ largest client relationships.
- MarWest Commercial promoted Nicole Egner to president, overseeing all operations, client relationships, associate development and continued growth in commercial management clients. MarWest Commercial, a subsidiary of FirstService Corporation, is a full-service commercial real estate services firm specializing in the formation, management and repair of Commercial Property Owner’s Associations. Egner has been with MarWest for 13 years and served as a Regional Director and most recently as VP of all MarWest operations.
- California Business Properties Association, a pro-business legislative advocacy association, announced commercial real estate industry veteran Rob Cord has been elected chairman of the board for the 2023 term. A 27-year member of the association, Cord has extensive board leadership experience. His real estate experience began in the San Francisco Bay Area, including leadership roles starting with Equitec Financial Group, Grubb & Ellis Company, TRI Commercial, CBRE, Kennedy Wilson, Cassidy Turley, Voit Real Estate, and CBC Advisors.
- ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, announced that it has increased its share of the 1031 DST market in the first half of 2023 compared to the 2022 year, representing more than 33% growth, according to a recent report by Mountain Dell Consulting. The report shows that ExchangeRight’s $201.88 million of DST equity raised year-to-date positions the company as the fourth largest sponsor in the securitized 1031 exchange marketplace as measured by equity raised.
- Investment banking firm Schelin Uldricks & Co. has moved its corporate headquarters to the Pierside Pavilion mixed use property overlooking the Pacific Ocean at 300 Pacific Coast Hwy., Ste. 303 in Huntington Beach. The company is increasing its footprint ahead of its planned head count expansion to accommodate its growing business.
- Industrial REIT Rexford Industrial Realty, Inc. reported net income attributable to common stockholders of $51.6 million, or $0.26 per diluted share in the second quarter, as compared to $36.1 million, or $0.22 per diluted share, for the prior year quarter. It also reported company share of Core FFO of $108.4 million, an increase of 32.8% as compared to the prior year quarter.
- Juniper Square, a provider of partnership enablement for the private funds industry, today announced an exclusive partnership with Pereview, a software platform supporting both equity and debt for real estate investments. Joint clients can seamlessly share both asset-level and portfolio insights to improve fundraising efficiency and provide LPs with greater transparency, according to Juniper Square.
- Prologis, Inc. reported that its net earnings per diluted share was $1.31 for the second quarter of 2023 compared with $0.82 for the second quarter of 2022. Core funds from operations per diluted share was $1.83 for the second quarter of 2023, compared with $1.11 for the same period in 2022. T
- San Clemente-based CareTrust REIT, Inc. has funded a $15.7-million mortgage loan on a two-asset, 115-bed skilled nursing portfolio located in Florida. The borrowers under the loan are affiliates of Elevation Group, LLC, a Florida-based skilled nursing operator led by industry veterans Ken and Dan Funk. Elevation is an existing tenant of CareTrust.
- Vestar, one of the leading privately held shopping center owners and managers in the western U.S., has been retained by MetLife Investment Management to provide management services for Homestead Square, a 203,000-square-foot power center located at 20572 Homestead Rd., Cupertino.
- Zego, a Global Payments company and leading property management automation platform for optimizing efficiency and profitability, is celebrating its 20th anniversary. Over the past two decades, Zego has transformed from a payments provider to a comprehensive property management automation platform, used by 7,000 residential real estate companies representing more than 15 million units nationwide.
- Tangram Interiors, a curator of highly creative commercial interior environments headquartered in Southern California, has officially been certified as a Women’s Business Enterprise (WBE) by the National Women’s Business Enterprise Council. This certification became possible when new chairman Sonya Mitrovich Lozowski ascended into her leadership role. As of 2023, Mitrovich Lozowski oversees the organization’s performance and strategic initiatives. She also leads Tangram Interiors’ philanthropic efforts and community outreach programs.
- ◦People
