First Union REIT names new CEO and managers

Article Abstract:

First Union Real Estate Investments, the US-based firm whose holdings include apartment, retail, office and parking properties, appointed Daniel P. Friedman as its new CEO. Friedman, the incumbent president and chief operating officer of New York-based Enterprise Asset Management Inc., replaced Stevan Edelman, who took over as First Union's interim CEO when James C. Mastandrea left the company in May 1998. In addition, First Union also named Anne Nelson Zahner and David Schonberger, also from Enterprise as executive vice presidents of the company.

Comment:

Appoints Daniel P Friedman as its new CEO, replacing interim CEO Steven Edelman

First Union Real Estate Equity and Mortgage Investments, Article

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Two REITs in U.S. plan to combine

Article Abstract:

Health Care Property Investors Inc. announced that it has reached an agreement to purchase American Health Properties Inc. for approximately $500 million (468.1 million euros). The transaction is a stock deal. The deal reflects the most recent consolidation in the real estate investment trust (REIT) industry in the US. Both Health Care and American Health said that the deal will increase their liquidity and allow them to diversify their properties.

Comment:

Health Care Property Investors to purchase American Health Properties for approximately $500 million (468.1 million euros)

Asset sales & divestitures, Acquisitions & mergers, Mergers, acquisitions and divestments, Real estate industry, Abstract, Investment companies, Health Care Property Investors Inc., American Health Properties Inc.

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Taubman cedes chairman post

Article Abstract:

Taubman Centers Inc.'s chairman, A. Alfred Taubman, has resigned as the company's chairman due to his price-fixing conviction. Taubman, who founded the company some 51 years ago, will be replaced by his son Robert Taubman.

Real estate investment trusts, Officials and employees, Appointments, resignations and dismissals, Taubman, A. Alfred, Taubman, Robert, Taubman Centers Inc., TCO

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