Robert G. Schaedle III, also a founding partner with Worthington, becomes vice chairman. John B. Tirrill Jr. takes over as president and chief operating officer from Chuck Parker who leaves after nine years to enter another business.

"A more formal structure is required as we continue to expand," says general partner Joseph R. (Pitt) Hyde III. "I am confident that by more clearly defining each executive member's role, we are positioning SWH for continued success."

Worthington will continue to be responsible for investment strategy, asset management and all other SWS business affairs. Before founding SWH, Worthington was executive vice president of Richard Felker Co., another Atlanta-based investment firm focusing in apartment acquisition and management.