California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
California People and Company News, Week of June 7, 2024
- JLL hired Kristen Vosmaer as a managing director for its growing Data Center Work Dynamics business, based in Sonoma. In this role, Vosmaer is responsible for data center growth initiatives, building strong relationships and guiding high-performing teams. He joins JLL from GLP, a leading global builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies, where he was VP of global operations.
- The Cooperative LA, an owner’s representation and construction management firm, promoted Sean Jordan to president. A partner at The Cooperative LA, Jordan brings a wealth of experience to his new role, including a decade of build experience from general contractor MATT Construction and leadership expertise from film studio developer/operator Quixote Studios.
- San Francisco-based Deol Data, a consulting, construction management and technology firm, appointed security industry veteran Doug Farber to its advisory board. With a distinguished career spanning three decades, Farber will focus on helping the company navigate the complexities of the regulatory environment, drive impact in the realm of security and technology, and foster governmental and private sector relations.
- George Kutnerian, CEO of Wellpointe Inc., a Fresno-based provider of residential care for the elderly, is rallying behind advocacy efforts for Assembly Bill 1993, which proposes to increase the maximum capacity of Residential Care Facilities for the Elderly (RCFEs) in California from six to 10 residents while still being considered a residential use for local zoning purposes. AB 1993 aims to address the growing demand for housing and care among California’s older adult population.
- ExchangeRight, among the nation’s leading providers of diversified real estate DST and REIT investments, has fully subscribed its $18.73-million Value-Add Portfolio 3 DST. The offering is a diversified portfolio of in-line and outparcel retail tenants shadow-anchored by long-term net-leased and strong-performing grocery and national retail companies. The portfolio features eight in-line shopping centers diversified across seven states with more than 43 unique tenants.
- Rexford Industrial Realty, Inc. has released its annual Environmental, Social and Governance Impact Report. In 2023, the Los Angeles-based REIT generated significant value through its ESGi approach, including environmental value by preventing 40,456 tons of carbon emissions through a focus on recycling dysfunctional infill buildings, implementing green building strategies and collaborating with tenants to drive sustainable operations; societal value by generating approximately $1.4 billion of positive societal impact; and governance value by upholding robust governance policies and practices.
- California communities will have a new tool to accelerate development of Accessory Dwelling Units (ADUs), smaller homes built on the same property as the primary residence. Community Planning Collaborative (CPC), a housing policy and ADU resource leader, this summer will begin rolling out its ADU Plans Gallery across California. The platform empowers local governments to meet state laws and local housing goals while assisting residents in finding ADU plans, connecting with designers, and saving time and money on their projects.
- Long Beach Economic Partnership announced that the 2024 Select LA Investment Summit will be held in Long Beach on June 20, 8:00 a.m. – 4:00 p.m., at the Hyatt Regency Long Beach. While the event is traditionally held in Los Angeles, Select LA’s decision to hold the summit in Long Beach marks a major milestone for the city’s growing prominence in the Southern California region.
- ◦People
