Real Estate Forum - May/June 2009

XECUTIVE NOTES

GRAMERCY CAPITAL CORP.

The New York City-based firm has selected Jon W. Clark as its new chief financial officer and treasurer. He succeeds John B. Roche,

who resigned last month. Clark will retain his role as chief accounting officer, a post he has held since March. Prior to that, he was Gramercy’s vice president and con-

Clark troller. He joined the company in June 2007

from BlackRock Financial Management, where as a director he managed the accounting and finance department for real estate debt products.

UCHMG

United Campus Housing Management Group has brought on Rob Martin as its new chief operating officer. He brings more than 15 years of

experience to the Austin-based student housing manager and service provider, including stints at American Campus Communities, College

Park Communities, Martin

Campus Apartments LLC and FirstWorthing.

In 2007, Martin formed Campus Housing Consulting to fill the advisory need for owners and investors entering or expanding in the student sector.

TRANSWESTERN

The firm has promoted Larry Mendez to the position of senior vice president in the San Antonio office. In this new role, he will work

with the leasing team on tenant and landlord representation and new business development. In his seven years with Transwestern, Mendez has closed more than

Mendez

240 transactions totaling over one million square

feet and worth more than $98.3 million.

Fannie Mae Shakes Up Executive Branch

Washington, DC—Mortgage giant Fannie Mae has seen a whirlwind of executive changes in the past month. In late April, the GSE’s board of directors selected Michael J. Williams as president, CEO and a board director. He succeeds Herbert M. Allison Jr., who was enlisted by the US Department of the Treasury to serve as Assistant Secretary for Financial Stability and Counselor to the Secretary.

Previously, Williams served as EVP and chief operating officer at Fannie.

He has spearheaded the bolstering and restructuring of the company's foreclosure-prevention and loss mitigation operations, and this year he has led the GSE’s efforts to carry out the Administration’s Making Home Affordable loan refinance and modification initiatives. As COO, Williams oversaw the firm’s credit operations, technology, enterprise operations, human resources, community and charitable giving, compliance and ethics, corporate facilities and security and corporate procurement functions.

Barely a day after his appointment, Williams named three new executive

Williams

vice presidents, rounding out Fannie’s change in leadership. “We're very pleased that the company continues to attract top talent as we continue to build and realign to better serve the market and prevent foreclosures during these difficult economic times,” he said in a statement.

Timothy J. Mayopoulos, who possess 25 years of legal experience, is now EVP, general counsel and corporate secretary. He comes to Fannie Mae from Bank of America, where he worked for the past five years as EVP and general counsel. Mayopoulos was charged with the delivery of all legal services for the financial services company.

Meanwhile, Edward G. Watson has been named executive vice president of operations and technology. He joins Fannie with more than 25 years experience in the financial services industry. Watson most recently served as global head, capital markets operations and ICG business services at Citigroup.

Also new to the mortgage giant is Kenneth J. Phelan, who has been selected as EVP of enterprise risk management. He most recently was a senior executive vice president in the risk management group at Wachovia Corp.

Fannie’s chairman of the board, Philip A. Laskawy, said in a release, “Fannie Mae continues to play a central role in the collective effort to prevent foreclosures, stabilize the markets and hasten recovery. As we continue fulfilling this important mission, it is critical that we have a highly skilled leadership team in place moving forward.”

He continued, “These appointments will strengthen the company and bolster our ability to fully execute the Administration's Making Home Affordable plan.”

NAI FRIEDLAND REALTY

Anthony J. Lembeck has risen in the ranks to the position of chief operational officer at

NAI Friedland Realty,
a Yonkers, NY-based
commercial real estate
firm. Previously an exec-
utive vice president and
industrial division head,
Lembeck joined the
Lembeck
firm in 1995 after retir-
ing from the practice of