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California People and Company News, Week of June 21, 2024
- Real estate law firm Cox, Castle & Nicholson LLP announced that Robert Shaia has joined the firm as partner. Based in Cox Castle’s Orange County office, Shaia joins the litigation team. He has more than 20 years of experience as a construction litigator, and joins Cox Castle from Watt, Tieder, Hoffar & Fitzergerald, where he was a partner.
- Rexford Industrial Realty, Inc. has initiated a search for a new CFO and, upon the successful hire of one, to then elevate current CFO Laura Clark to the newly established role of COO. The company has initiated an executive search effort through Russell Reynolds Associates to identify and appoint a new CFO. In her new role, Clark will oversee Rexford’s operational and growth segments, including asset management, investments, development and construction, leasing, property management and marketing, among others.
- Kidder Mathews hired David Newman, MAI as an SVP in Sacramento. He brings more than two decades of experience as an appraiser, serving the northern and central regions of California. Newman concentrates primarily on apartment complexes, office buildings, industrial buildings, freestanding net-leased retail buildings and shopping centers. He has also appraised hotels/motels, mobile home parks, self-storage facilities and ground-leased properties.
- REstack Advisors Inc, a Canadian based real estate services firms, is expanding into the U.S. with real estate industry veterans Scott Morey and Robert Lieberman from Los Angeles-based Point Advisers. The combined firm under the REstack brand will offer managed and project-based advisory services to the real estate investors, owners, operators and developer industry.
- Gilbane Building Company said Ryan Heeter has joined the company as SVP and West division leader, based in San Jose. Heeter brings more than 25 years’ experience to his new role, in which he will provide support, strategic value and resources to the entire West Division.
- CenterCal Properties is reinforcing its leadership team by adding Varun Akula as SVP of development, based in El Segundo. He brings more than 15 years of experience in the development, acquisition and management of commercial real estate projects in Southern California and Las Vegas, with a particular focus on mixed-use assets. Akula joins CenterCal from Hines, where he previously served as a managing director.
- Newport Beach-based McCarthy Building Companies devised a new leadership structure to support the evolution of the firm’s Southern Pacific region, comprised of San Diego, Los Angeles, Newport Beach and Las Vegas. Consistent with the new structure, Mike Myers has been named CEO, Southern Pacific; Jim Madrid has been named President, Southern Pacific; Paul Erb has been promoted to COO, Southern Pacific; and Suzy Cruden has been promoted to SVP of strategy. All four executives are long-term employees.
- Pasadena-based ExchangeRight has launched a new share class for its Essential Income REIT, exclusively for broker-dealer representatives and their clients. The newly introduced ER shares provide a way of participating in the Essential Income REIT that targets a 10% internal rate of return net to investors. The shares’ IRR is supported by a current monthly tax-efficient income of 6.00% annualized and additional growth potential generated by participation in the REIT’s value in addition to ExchangeRight’s incentive fees and Sponsor DST fees.
- Architecture firm AO was a multiple-award winner at this week’s PCBC Gold Nugget Awards ceremony, held at The Westin Resort in Anaheim. The Gold Nugget Awards, which debuted in 1963, is reportedly the oldest and most prestigious design award in the nation for architecture, planning and construction. From a field of 12 Merit Awards finalists, the following AO projects received the highest distinction, the Gold Nugget Grand Prize Award: Spruce & Red Oak for developer Western Spire in Rancho Cucamonga won for Best On-the-Boards Multifamily Community; VRV for developer Bonanni Development in Stanton won for Best Multifamily Housing Community 60 to 100 du/acre; and Garden Brook Senior Village for developer AMG & Associates in Garden Grove won for Best Affordable 55+ Housing Community.
- Separately, Costa Mesa-based MVE + Partners announced it had received two Merit Awards at the PCBC Gold Nugget Awards. Both were in the Best On-the-Boards Multifamily Community category: the Rafferty, designed for developers Toll Brothers & First American Title in Santa Ana; and The Ritz-Carlton Residences Newport Beach, designed for developer Lyon Living & Eagle Four Partners.
- A real estate brand focused on college town markets, Los Angeles-based ALUM has partnered with global premium experiences company Legends, which has extensive experience in collegiate athletics and provides hospitality at some of the most well-known venues in the world. The partnership with Legends allows ALUM to tap into Legends’ relationships with university and athletic leadership and their industry-leading experience in assisting colleges and universities with identifying incremental revenue opportunities.
- ◦People
