(Mark Your Calendars: RealShare Orange County, August 18 in Newport Beach).
IRVINE, CA-Land Interests Inc. and Paladin Asset Preservation & Management Inc., both based here, have appointed David Mudgett as president and chief operating officer of both firms. Erik Frechette, who has been president and CEO of both companies since he founded them four years ago, maintains his title of CEO.
Mudgett has more than 35 years experience in the planning, development, leasing and operations of commercial real estate in the US, Mexico and Asia. Frechette says that, with Mudgett managing operations, he will be able to dedicate more time to client initiatives, while implementing the next phase of the companies' business strategies.
Frechette says Mudgett's appointment will "help us expand the business to a much greater degree than previously possible.” He adds, "We’ve had short-term success in recent years, but have grown to the point where we need the guidance and operational leadership that only a talent like David can provide.”
Land Interests is a real estate management, brokerage and investment advisory firm. Since 2007, it has expanded from a two-person office to a company employing more than 20 full-time professionals, active in 13 state and two countries. Paladin Asset Preservation & Management provides third-party fiduciary services for judicial, lender and equity partner concerns throughout North America. Both companies support a wide range of services across numerous real estate categories, including distressed residential, apartment, retail, hospitality, office, and industrial properties.
Mudgett is also a principal at Timberline Commercial Real Estate, which has advised Land Interests and Paladin for the past four years. He began his career at the Rouse Co. in Maryland, developing regional malls and a strategic retail plan for what was then the new city of Columbia.
In 1979 he joined Evans Development and was eventually named its executive vice president for leasing and development, where he led the redevelopment of the 1.5- million-square-foot Bay State West Mall in Springfield, MA and the conversion of the Old Post Office Building on Washington’s Pennsylvania Avenue, which is registered in the National Historic Trust, into a specialty retail center.
At The Irvine Co. in Newport Beach, he led the Retail Properties Group, a division that managed the development, leasing, construction, management and marketing of more than 30 shopping centers, including the $125 million renovation and expansion of the Fashion Island regional super-mall. During the 1990s Mudgett served as president of Koll Development’s retail division, developing centers in Texas, California and Washington, and was then named president of Koll’s International Division, overseeing commercial and industrial projects in Mexico, China, Taiwan, Thailand and Malaysia. In 2000 he joined longtime associate Kevin Deighan to form Timberline Commercial Real Estate, to acquire and develop retail, office, hotel and residential assets.
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