{"id":1004143050,"date":"2016-04-29T02:36:47","date_gmt":"2016-04-29T10:36:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004143050"},"modified":"2022-12-08T02:29:40","modified_gmt":"2022-12-08T10:29:40","slug":"excel-trust-named-new-president-ceo-for-extended-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/excel-trust-named-new-president-ceo-for-extended-portfolio\/","title":{"rendered":"Excel Trust Named New President &amp; CEO for Extended Portfolio"},"content":{"rendered":"<p><em>By Alexandra Pacurar, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004143052\" style=\"width: 254px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004143052\" data-attachment-id=\"1004143052\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/excel-trust-named-new-president-ceo-for-extended-portfolio\/luke-petherbridge-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg\" data-orig-size=\"717,882\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"luke-petherbridge-1\" data-image-description=\"&lt;p&gt;Luke Petherbridge, Excel Trust &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Luke Petherbridge, Excel Trust &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg?w=717\" class=\"wp-image-1004143052 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg\" alt=\"Luke Petherbridge, Excel Trust \" width=\"244\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg 717w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg?resize=244,300 244w\" sizes=\"auto, (max-width: 244px) 100vw, 244px\" \/><\/a><p id=\"caption-attachment-1004143052\" class=\"wp-caption-text\">Luke Petherbridge, Excel Trust<\/p><\/div>\n<p><strong>San Diego<\/strong>\u2014<a href=\"https:\/\/www.exceltrust.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Excel Trust<\/a>, a retail focused real estate investment trust, appointed Luke Petherbridge as President &amp; CEO, after it extended its portfolio. Currently, Petherbridge is the CFO and Treasurer of <a href=\"https:\/\/ddr.com\/\" rel=\"nofollow noopener\" target=\"_blank\">DDR Corp.<\/a>, a REIT that owns 352 <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/\" target=\"_blank\" rel=\"noopener\">shopping centers<\/a> totaling 113 million square feet across 37 states and Puerto Rico. He will officially step down on May 6th.<\/p>\n<p>Luke Petherbridge is an experienced professional who can name overseeing the execution of $5 billion of real estate transactions, raising over $9 billion of long-term capital and supporting various strategic initiatives as some of his most significant long-term achievements. \u201cI am excited about the opportunity to lead Excel Trust and look forward to working with the team, retailers, and ownership to optimize portfolio operations and continue to grow the Company\u201d, said Excel Trust\u2019s new President &amp; CEO.<\/p>\n<p>The appointment came after Excel Trust became part of a fund managed by New-York based investment firm Blackstone. Following additional acquisitions, the company\u2019s leased and managed portfolio more than doubled. It includes 80 high quality open-air shopping centers totaling 19 million square feet, mostly concentrated in California, Texas, <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/new-york\/\" target=\"_blank\" rel=\"noopener\">New York<\/a> and Florida.<\/p>\n<p>\u201cOur goal is to continue to scale our investment in the open-air retail space and for Excel Trust to be a premier retail owner and operator in the US. We believe Luke is incredibly talented and his prior experience makes him well qualified to lead the company as we accelerate our growth in the sector\u201d, said Nadeem Meghji, Co-head of US Acquisitions for Blackstone. In the past five years, Petherbridge became familiar with Blackstone after working with the company on several transactions.<\/p>\n<p>DDR Corp. announced that David Oakes will take over Petherbridge\u2019s responsibilities on a temporary basis. A permanent replacement will be appointed after the ongoing search process, which includes internal and external candidates, will be closed.<\/p>\n<p>Excel Trust is a retail focused REIT that owns, manages and leases primarily open-air, power and grocery anchored shopping centers. Recently it came under the management of real estate giant Blackstone, which has an extensive and diverse portfolio comprising in hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America.<\/p>\n<p><em>Image courtesy of DDR Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luke Petherbridge is leaving his role as CFO at DDR Corp. for a top position at Excel Trust, a REIT which more than doubled its portfolio.  <\/p>\n","protected":false},"author":236,"featured_media":1004143052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21744,21785,21749,1608],"tags":[],"class_list":["post-1004143050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-people","category-property-management","category-retail","category-san-diego"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Excel Trust Named New President &amp; CEO for Extended Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/excel-trust-named-new-president-ceo-for-extended-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Excel Trust Named New President &amp; CEO for Extended Portfolio\" \/>\n<meta property=\"og:description\" content=\"Luke Petherbridge is leaving his role as CFO at DDR Corp. for a top position at Excel Trust, a REIT which more than doubled its portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/excel-trust-named-new-president-ceo-for-extended-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-29T10:36:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T10:29:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/luke-petherbridge-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"717\" \/>\n\t<meta property=\"og:image:height\" content=\"882\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexandra Both\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/excel-trust-named-new-president-ceo-for-extended-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/excel-trust-named-new-president-ceo-for-extended-portfolio\\\/\"},\"author\":{\"name\":\"Alexandra Both\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/92454aa9920287f97bb7f9888b2836f7\"},\"headline\":\"Excel Trust Named New President &amp; 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