CHARLOTTE, N.C. — Summit Properties has named Steve LeBlanc president and CEO. He succeeds Bill Paulsen, who will remain in his current position for a transition period ending July 1. Paulsen will then serve as co-chairman of the company's board of directors.

LeBlanc previously served as president and chief operating officer. Michael Shwarz, currently executive vice president and chief financial officer, will assume LeBlanc's responsibilities for property operations.

Prior to joining Summit in 1998, LeBlanc served as president of Urban Growth Trust in Atlanta. He previously worked for Security Capital Pacific and Security Capital Atlantic. He is a graduate of The University of Texas.

Summit Properties, an apartment community REIT, owns or holds interest in 64 communities with 18,700 apartment homes.