CHARLOTTE, NC-Larry Corson, who has 25 years of experience in real estate operations and investment, was appointed the new president and chief executive officer for Crescent Resources, the locally based land management and real estate development company, which in June emerged from Chapter 11 bankruptcy.

Crescent, which was advised by Korn/Ferry International in its search for a CEO, has holdings in Florida, Georgia, North and South Carolina, Arizona and Texas, is now owned by three private equity groups—New York City-based Anchorage Capital and Matlin Patterson and Greenwich, CT-based Strategic Value Partners. When the company emerged from bankruptcy, these three entities took over after buying more than 50% of the company’s debt, says Corson, although he declined to give a dollar amount.

“The company has good bones, which is to say a terrific asset base,” says Corson, who most recently served as senior vice president of Hunt Realty Investments, where he created and led a new land development division. Corson joined Hunt Realty from Westbrook Partners where he served as chief executive officer of Evergreen Alliance Golf Limited, a Westbrook subsidiary. Before that, he was chief operating officer of Terrabrook, another subsidiary of Westbrook, which at the time was the largest master planned community in the US, says Corson.