June – Briefs/People

Studley, Savills Merge in $260M Deal

Mitchell Steir

The rumored Studley and Savills merger has been made official. London-based Savills plc will pay $260 million for Studley, which currently operates 25 offices across the U.S. The merger is expected to close by the end of May, and Studley’s operations in the U.S. will be renamed Savills Studley. Studley’s chairman & CEO, Mitchell Steir, will retain his titles for Savills Studley, as will Studley’s president, Michael Colacino.

Trade Street Residential Names Ross CEO

Southeastern apartment owner and operator Trade Street Residential has named Richard Ross to the permanent position of CEO. He had been serving as interim CEO & CFO since February 2014. Ross will continue to serve as CFO, though in an interim role, while the company’s board searches for a permanent officer. Ross joined Trade Street as CFO in August 2013, after acting as an advisor to the company during the formation transactions and through the initial public offering in May 2013.

Land Tejas Taps Keller as COO

Houston developer Land Tejas has hired Jennifer Keller as COO. She contributes 20 years of experience to the post, and will oversee the entitlement and development of more than 6,000 acres of land comprising 12,000 residential lots currently controlled by Land Tejas. Prior to joining the firm, Keller was a senior vice president of one of the largest divisions of KB Homes. Current Land Tejas projects include Lago Mar, a 2,033-acre community in Texas City that will feature 4,000 homes, a 350,000-square-foot Tanger Outlet Mall and a 25-acre Playland Amusement Park.

Madison International Realty Promotes Two

Madison International Realty has promoted Christopher Mendez and Evan Cohen from vice presidents to directors. The duo will assume joint responsibility for Madison’s investment sourcing and development activities. Mendez joined the firm as an associate in 2009, and was named vice president in 2011. He previously worked for Morgan Stanley Real Estate on both investment banking and investment transactions. Cohen came on board as an analyst in 2007, and was appointed vice president in 2013. Prior to joining Madison, Cohen worked as an analyst with Metropolitan Real Estate Investors.

Auction.com Names Morse CFO

Online real estate marketplace Auction.com has named former Yahoo! Inc. CFO & interim CEO Tim Morse as CFO & vice president. The news came just a week after the company announced a $50 million investment from Google Capital, which was part of a strategy focused on expanding Auction.com’s share of the global real estate marketplace. Morse will work closely with outgoing CFO Bruce Felt, who will depart this June. Morse previously held roles in financial leadership at General Electric Co., specifically within GE Capital, GE Corporate, GE Appliance and GE Plastics.

Carter Hires Hagley as EVP

Real estate investment, development and advisory firm Carter has hired Jerome Hagley as executive vice president. Hagley joined the firm from The Dawson Co., where he was executive vice president & COO. During that time, Hagley worked closely with Carter on the development joint venture of The Banks mixed-use riverfront project in Cincinnati. In his new role, he will work with Carter’s investment and development teams to lead, manage and expand the firm’s multi-family and mixed-use businesses.

KeyCorp Picks Mago to Head KeyBank Real Estate Capital

KeyCorp has named Angela Mago to lead KeyBank Real Estate Capital and Community Development Lending. As a 26-year Key veteran, Mago is certainly qualified for the post. She succeeds E.J. Burke, who was appointed Key’s co-president of Community Bank, Commercial & Private Banking in early April. Since 2011, Mago has led the Real Estate Capital Markets team. She previously served as the national manager for KeyBank Real Estate Capital’s healthcare group.

Marcus & Millichap Expands into Canada

Commercial real estate services firm Marcus & Millichap entered Canada with the opening of offices in Toronto, Calgary and Vancouver. Gary Lucas, a senior vice president at the company, will oversee Canadian operations, while David Holmes will run the day-to-day operations of Marcus & Millichap Real Estate Investment Services Canada Inc. Brokerage in Toronto as regional manager. Chris Anderson will act as Marcus & Millichap’s regional manager in Vancouver, and Lucas will manage the Calgary office. Marcus & Millichap is off to a banner start in 2014, after successfully undergoing an IPO in October 2013 and setting a record in sales volume and transactions for the year.