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Atlanta's Macnab Joins CNL Realty

ORLANDO-Craig Macnab, former president and CEO of the defunct JDN Realty Corp., replaces James M. Seneff Jr. as CEO of Commercial Net Lease Realty Inc. Seneff, founder of the CNL family of companies, is CEO of CNL Financial Group, the privately held umbrella company.

By Alex Finkelstein | Updated on February 20, 2004

ORLANDO-Commercial Net Lease Realty Inc. directors have tapped Craig Macnab, former CEO of the defunct JDN Realty Corp. in Atlanta, as chief executive officer of the locally based, 14-year-old REIT.

Macnab replaces James M. Seneff Jr. who continues as CEO of CNL Financial Group, the 25-year-old, privately held umbrella company and parent of several subsidiary firms including CNLR. Seneff headed CNLR since 1992 and orchestrated its growth to become one of the largest retail REITs in the US.

The CNLR directors’ election of Macnab surprised some local commercial real estate followers who tell GlobeSt.com they expected Gary M. Ralston to be named to the CEO post. Ralston is president and chief operating officer of CNLR and is credited by many in the industry for spearheading the REIT’s highly successful portfolio diversification over the last several years.

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