Henry J. Faison, chairman/founder of Faison, will resign as executive vice president of Crow at closing but will remain a member of Crow's board of directors.
James H. Culpepper IV, responsible for the management of both the merchant build and the mall businesses for Crow, will rejoin Faison as executive vice president. He served in a similar capacity from 1983 until the sale of the bulk of the businesses to Crow in July 1998 for an undisclosed amount. The remainder was sold to Atlanta-based Cousins Properties Inc., also for an undisclosed sum.
"With the acquisition of these businesses, Faison Enterprises is once again a full-service real estate company encompassing a full range of skills for retail assets," Faison president/CEO Philip W. Norwood says in a prepared statement.
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