Charles E. Sullivan has been selected to
head ProLogis’ global operations. He will
oversee all international
operations, including the
coordination of property
management and leasing,
marketing and consumer
who has been with the
Denver-based firm since
1994, was most recently
managing director in charge of the company’s North American operations.
Jeffrey L. Johnson has joined this real
estate company as
managing director and
CIO. He will direct the
acquisition and asset
nationwide. Johnson previously served as CIO for
Equity Office Properties
Trust leading up to its sale
to the Blackstone Group in 2007.
JONATHAN ROSE COS.
The new managing director of this firm’s
investment practice is Gwen Rowden.
Based in New York
City, she will oversee
the Rose Smart Growth
Investment Fund I LP,
believed to be the
country’s first green
real estate investment
fund. Prior to joining the
firm, Rowden was vice
president, general coun-
sel and secretary of Rockefeller Group
The latest addition to the executive roster at Equinox Partners is Peter V. Hall,
who will serve as a managing director.
Based in San Francisco, he is charged
with expanding the firm’s C-suite practice
and extending Equinox’s
the western region.
Hall’s extensive career
includes a stint as senior
partner within Heidrick
& Struggles’ real estate
As the new CFO of this Houston-based
firm, Ramona Alms will
oversee the financial and
including financial reporting and tax compliance,
budgeting and cash
management and coordination of third-party
Alms previously served
as CFO and COO for the Staubach Co.
Jonathan L. Kempner has joined the
board of directors of Addison, TX-based
Multifamily REIT I Inc.
as an independent
director. Prior to accepting this position, he
served at the helm of
the Mortgage Bankers
Association as president
BOZZUTO DEVELOPMENT CO.
Rising in the ranks at this Greenbelt,
MD-based company is Toby Bozzuto.
Formerly an EVP, he has
been promoted to president. Bozzuto has been
with the firm for eight
years, having previously
worked as a financial
analyst at JPMorgan
Chase’s real estate debt
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Fairfield, NJ—Looking past the dark days
that may define this year, Douglas W. Vicari
plans to position locally based Paramount
Hotel Group to take advantage of future opportunities. Raising capital for acquisitions, one of
his chief duties as the newest principal at the
hospitality firm is challenging, to say the least,
in this economy.
“The markets have taken a hit and it’s going
to evolve over the course of the year,” he says.
“Right now we need to network and align ourselves with potential capital partners that think
about the sector the same way that we do.”
Transactions are few and far between in the
lodging sector because of uncertainty with the
debt markets, valuations and fundamentals,
says Vicari. Like many in the industry, he anticipates a turn for the better in the latter part of
the year or early 2010. “With some clarity in the
market, it could be an environment where well-positioned companies, and certainly those that
have access to capital, will do well.”
Vicari says one of the reasons he joined
Paramount is because of the company’s desire
to broaden its reach as an owner. The firm
currently owns six hotels along the East
Coast, but is also a third-party operator. Part
of Vicari’s responsibilities is to also advise
Paramount on its strategic direction as well
He remarks that the deterioration of hotel
fundamentals in the past few quarters has
encouraged the firm to review its approach.
“We’re focused on having a sound game plan
to get ready for when opportunities return,” he
says, adding that good buying options have
historically emerged from recessions.
A 23-year industry veteran, Vicari was
most recently the executive vice president
and CFO of Highland Hospitality, a lodging
REIT that was sold to JER Partners in 2007.
After Highland changed hands, Vicari says
he served as a consultant and worked at
Thunderbird Resorts Inc., a gaming and lodging company where he serves on the board of
directors. Asked why he returned to the hospitality arena, Vicari says, “I felt this was a good
time to start planning for the recovery that we
all hope to see in the lodging business over
the next few years.”—Danielle Douglas