GE Capital Commercial Real Estate Financing and Services Ron Pressman, who previously headed GE Power Systems, has replaced Mike Frazier as president of the Stamford, Conn.-based financial services company. Pressman will report to Frazier, who now serves as senior vice president of GE Capital.
"I look forward to working with Mike and leveraging the experience he's gained in the last five years being a part of our real estate business and to help continue the positive track that we've been at and to take it through the remainder of the decade as the day-to-day leader of the business," Pressman tells NREI.
Pressman says that the company has been going through a transition in which it is trying to make its servicing capabilities as well-known as its lending and investing activities. "We are really trying to look at our business in four fundamental ways going forward: a capital markets business, a lending and investing business, a services business and a pension advisory business. We are trying to look at each of those pieces and determine why we grow them and how we globalize them," says Pressman, adding that the thrust of their efforts has been toward capital markets. "That's been a paradigm shift in the industry, and we, as many others, have recognized the opportunity to link borrowers to investors through the issuance of securities." The company's first securitization will be brought to market this month in partnership with Merrill Lynch and Daiwa Securities.
Becoming a more globalized force is also a focus of the company, says Pressman, who led business activity in Europe, Africa, the Middle East and Southwest Asia as head of Power Systems. "The fact that I've spent about a third of my career working in global or international environments certainly positions me to be comfortable in taking a domestic business and positioning it to be a global player," he says, noting that the company has worked in Canada and the United Kingdom and, within the last 24 months, has grown additions in Mexico, France, Sweden, Australia and Singapore."I think we're on the precipice of being a much more global player."
MBK Senior Properties Ltd. J. Scott Reid has been named president of the seniors living division of Irvine, Calif.-based MBK Real Estate Ltd. He will be responsible for managing and operating the firm's existing seniors communities as well as acquiring and developing new properties.
American Nevada Corp. The Henderson, Nev.-based designer/developer has promoted Brad Nelson and Alan Perlmutter to chief operating officer for community development and chief operating officer for commercial development, respectively. Nelson will lead expansion into multiple markets and will oversee all master-planning, development and land sales. Perlmutter will direct the strategic development of the firm's commercial properties.
Industrial Developments International Inc. The Atlanta-based industrial developer has promoted David Birdwell to chief financial officer. The firm also named Linda Booker vice president.
Crowne Plaza Hotels and Resorts Thomas Arasi has been tapped as president of the Atlanta-based hotel operator and franchisor. He also will be elected to the board of Holiday Inn Worldwide, both effective June 1, 1997.
Insignia/Edward S. Gordon Co. Joseph A. Cabrera has joined the New York-based brokerage firm as executive director, national accounts. Cabrera formerly served as Northeast regional president for Columbus, Ohio-based The Galbreath Co.
Koll Jim Vance has been named regional president of the Southwest region of the Newport Beach, Calif.-based services firm. Vance will retain his position as regional president for Koll Asia Pacific. He serves as a member of the board for Koll Hong Kong and on the expansion teams for Koll Thailand and Koll Japan.
Reckson Associates Realty Corp. The Real Estate Institute at the C.W. Post Campus, Long Island University, has elected Kathleen Giamo chairperson of the board. Giamo also serves as senior vice president of office leasing at New York-based Reckson, a commercial real estate owner and manager.
Beacon Properties Corp. Jeremy B. Fletcher, former managing director of Insignia Commercial Investment Group Inc., Los Angeles, has joined the Boston-based REIT as chief executive of Los Angeles-based Beacon Properties West and senior vice president of the corporation.
Please contact Assistant Editor Tracy Heath at [email protected] if you have any comments or information about important individual accomplishments in real estate.