The moves follow Wells Real Estate Investment Trust's decision to internalize its management functions with several former Wells personnel coming on board the REIT, which now operates as a stand-alone company, as GlobeSt.com previously reported.
"We have built a deep, talented bench in our real estate group, and that makes for an orderly transition," says Leo Wells, president, Wells Real Estate Funds, in statement. "We have an extremely capable team to lead our real estate funds."
In his new role, Steinwedell will be responsible for new investment vehicles and helping grow new capital-raising channels. Moving into his former chair, Jeff Gilder now becomes chief investment officer. The senior vice presidents reporting to Gilder are Joe Oglesby (Western US and Development), Keith Willby (South) and Heather Griner (East), and vice president Peter Mitchell (Midwest).
Changes are also afoot in asset management, with Patti Morris taking the title senior regional director for the East and South. Rounding out the asset management team are Kevin Hoover as senior regional director of the Midwest and West, and Parker Hudson, managing director, dispositions, overseeing several Wells portfolios. Hoover is also a portfolio manager.
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