Exit Strategy

Exit Strategy

• Pivot Point: In Chicago Market, Lennar's Multifamily Play Takes Shape as It Plans a Single-Family Exit

  Lennar Homes, a single-family, top five–ranked home builder and real estate investor, has begun to bring its recently crafted multifamily play from blueprint to reality. Lennar plans to unwind its single-family, for-sale operations in the beleaguered Chicago market, and, at the same time, it's...

   

• It’s time to say goodbye—and hello to a new chapter for the magazine.

  It’s time to say goodbye—and hello to a new chapter for the magazine.

   

• AvalonBay CEO Bryce Blair’s Retirement Comes as a Surprise

  In the REIT world, where the message is usually controlled and changes are anticipated well in advance, this week’s announcement from Arlington, Va.-based REIT AvalonBay Communities that its chairman and CEO Bryce Blair would retire from his role at the end of 2011, came as a surprise to both...

   

• Succession Planning is a Two-Way Street

  The person passing the power and the person taking the driver's seat have to be on the same wavelength.

   

• Pop Quiz: Q&A with Essex's New CEO Mike Schall

  Mike Schall may have a new role as CEO of Palo Alto, Calif.-based Essex Property Trust, but he is certainly no stranger to the company. Schall has served under outgoing CEO Keith R.Guericke for 24 years. When the company went public in 1994, he was CFO. Five years ago, he moved over to the COO...

   

• Guericke Steps Down at Essex

  After 33 years at Essex Property Trust, Keith R. Guericke, president and CEO, announced that he will step down on Jan. 1, 2011. Guericke will continue to serve as the vice chairman of the board and serve as a consultant to Palo Alto, Calif.-based Essex. Michael J. Schall, Essex’s senior executive...

   

• Court Approves Fairfield’s Reorganization Plan

  On Tuesday, Delaware's Bankruptcy Court cleared the way for Toronto-based Brookfield Asset Management to provide an equity injection to San Diego-based Fairfield Residential by approving the company’s plan of reorganization.

   

• Wood Partners Discusses Executive Changes, Evolving Strategy

  Changes are afoot at Atlanta-based Wood Partners. Jerry Durkin will be moving up to the chairman role (and stay on the board of directors), while Ryan Dearborn will become the firm's new CEO. Additionally, CFO Joe Keough will be adding the COO title to his business card.

   

• Wood Partners Enters Acquisition

  The Atlanta-based builder is pulling away from development and construction work to focus on acquisitions and asset and property management.

   

• Phil Weber Leaves Fannie Mae

  Phil Weber, who has led Fannie Mae's multifamily division since 2006, has taken a new position with Austin, Texas-based Forestar Group.