Robert Gifford Joins RPAI’s Board of Directors

by Csilla Borsos

Robert Gifford

Oak Brook, Ill.—Retail Properties of America Inc. appointed Robert Gifford, director of Lehman Brothers Holdings Inc., to RPAI’s Board of Directors. Gifford is also an active member of the Urban Land Institute.

“With our recently announced intent to complete the execution of our strategic plan by the end of 2018 and to create value through redevelopment opportunities, Mr. Gifford’s extensive background in real estate and years of experience in creating strategic growth opportunities will serve to benefit the Company as we further enhance the long-term value proposition for our shareholders,” said Steven Grimes, president & CEO of RPAI, in prepared remarks.

The industry professional is the former president & CEO of AIG Global Real Estate where he executed the wind-down of the legacy real estate assets under management worth $20 billion. Also, he strategically rebuilt the company’s real estate investment platform with a focus on development and value-add purchases. Prior to this, he was responsible for AEW Capital Management‘s opportunistic investment strategy from his position as principal.

Here, Gifford also structured and marketed specialized REIT funds, and lead a $2 billion recapitalization of a super regional shopping center portfolio.

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