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Posts Tagged ‘senior executives’

Execs Depart Zell’s Equity International

May 24th, 2013 Comments off

The Wall Street Journal informs MHProNews three senior executives at Sam Zell’s Equity International (EI) real estate company resigned this week on the heels of the head of capital markets departure, as well as co-founder of the fund and CEO Gary Garrabrandt, who left last Sept. Chief Operating Officer Ira Chaplik, General Counsel Brian Richter, and Executive Vice President in Charge of Tax Structuring Cheryl Engle are all leaving EI, although Engle and Richter will become outside consultants and Chaplik will be an advisor to the company. The departures allegedly stem from disputes over compensation and the firm’s direction. Zell is chairman and owns the majority of EI, receiving over half of the profits, and is also chairman of Equity LifeStyle Properties (ELS). Tom Heneghan, who replaced Garrabrandt, had been CEO of ELS, the owner/operator of 380 manufactured housing and recreational vehicle communities in the U. S. and Canada.

(Photo credit: Equity LifeStyle Properties, Inc.— ELS country club in Calif.)

MHC Investors to Present at Forum

May 23rd, 2013 Comments off

MarketWatch reports senior executives of MHC owner UMH Properties, Inc. will present at this year’s National Association of Real Estate Investment Trust’s (NAREIT) REITWeek Investor Forum June 5, 2013. Held at the Hilton Chicago, as MHProNews has learned independently, Northstar Realty Finance Corp. will also be among the presenters at the forum. UMH owns and operates 68 manufactured home communities comprised of 12,800 developed home sites in seven states. As we reported here April 16, 2013, Northstar is involved with RHP Properties in the recent $865 million acquisition of 71 manufactured home communities.

(Image credit: UMH Properties, Inc.)