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Centro's Structure

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With the Centro/New Plan merger closing two weeks ago, Centro has unveiled its plans for streamlining operations.

For one thing, Watt Companies Inc. is out. Centro Properties Group and Watt have ended their joint venture thus Centro Watt will now be known simply as Centro.

New Plan CEO Glenn Rufrano, who is largely credited with righting New Plan's ship after joining the company in 2000, will become Centro's CEO of U.S. operations. A number of other top New Plan executives will remain with the firm including Michael Carroll, New Plan's executive vice president of real estate operations, will be Centro's U.S. executive vice president and COO, and Leonard I. Brumberg, New Plan's executive vice president of portfolio management, who will retain that title with Centro.

Centro will also use a regional operating structure in the U.S. with eight offices located in Boston, Philadelphia, Atlanta, Orlando, Detroit, Chicago, Houston and Los Angeles.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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