LOS ANGELES—Jim Mendelson will take over Arden Realty from outgoing president/CEO Joaquin de Monet, GlobeSt.com has learned.

Mendelson, who now holds the title of managing director, GE Capital Real Estate North America, will be based in Chicago. The Los Angeles office will report to him without an intermediary. Arden Realty has 167 employees.

Mendelson has been responsible for some time for GE's wholly-owned office and industrial portfolio in the US, including Arden Realty, GE's US commercial office space platform. Mendelson joined GE in 2001 and was previously SVP of portfolio and asset management for Heller Financial.  Earlier, he was a SVP at the Balcor Company, a subsidiary of American Express, responsible for property sales and workouts.    

Earlier on GlobeSt.com, de Monet said he was leaving Arden Realty “by mutual agreement” as of July 1 to pursue other opportunities. Patrick Brennan, a spokesman for GE Capital, said the transition to Mendelson has already started.

Mendelson will report to Alec Burger, president of real estate North America for GE Capital Real Estate, who is also a GE officer.

GE Capital Real Estate has $20 billion in equity assets and $22 billion in debt assets in its global portfolio as of the end of the first quarter.