Griggs could not be reached Wednesday for comment. Tribeca's president and chief executive William Faidi says Griggs adds "enormous" experience to the investment committee board while Shawber brings an "unparalleled" debt and equity placement track record as well as an in-depth knowledge of the company's targeted Western US markets. The company, which is pursuing distressed apartment and grocery-anchored retail properties, declined to comment on its plans for a new fund.

[IMGCAP(2)]At BRE, Griggs was responsible for the strategic deployment of capital in the BRE's Western US markets, leading a team of development, construction and acquisition people. The team delivered 18 new apartment communities and acquired 22 others between 2000 and 2008 and this time last year had a $1.3-billion development pipeline consisting of 13 communities in urban infill locations in Southern California, the San Francisco Bay area and Seattle.

Prior to BRE, Griggs, a licensed architect, was the SVP of Western US real estate state for Homestead Village, Inc., a subsidiary of Security Capital Group, Inc. He also has served as a senior real estate executive in the single-family home industry for the Fieldstone Company and Ryland Homes.