SEATTLE—Multifamily real estate investor, developer and operator Security Properties says that its long-time chief executive officer and president John Orehek has retired.

Leveraging the firm's deep and talented employee base, Security Properties' chairman Paul Pfleger has named long-time executive David Dufenhorst (previously chief investment officer) and Tim Overland (previously chief operating officer) as CEO and president, respectively.

The new team will focus on repositioning the firm's asset base into newer and more geographically focused target markets.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.