CHICAGO—KBS Realty Advisors recently hired Daniel Park as senior vice president and asset manager for Chicago, St. Louis, Kansas City and other Midwest areas. In his new role, Park will focus on cash flow yields, occupancy and leasing for each owned property. Additionally, he will identify new acquisitions and dispositions for the region's portfolio, which currently consists of six assets with a total of about 3.2 million square feet. He first joined Newport Beach, CA-based KBS in 2004 as an investment analyst and then went on to work with the Irvine Co. as a senior associate. Park then moved to Greenlaw Partners as a director of acquisitions and asset manager before returning to KBS. He received his Bachelor of Science in business administration from the University of Southern California.

NORTHBROOK, IL—Northbrook-based Pine Tree, LLC has hired commercial real estate industry veteran Hal Scudder as chief investment officer. Company officials say this appointment further bolsters their national retail real estate acquisitions platform. “As we continue to enhance and grow Pine Tree with the industry's most accomplished and talented professionals, we are proud to have strengthened our bench of management talent with the addition of Hal Scudder as CIO,” says Peter Borzak, chief executive officer and chairman of Pine Tree. “With over 30 years of industry experience and a deep understanding of the retail sector, we are incredibly excited to welcome Hal to Pine Tree's multidisciplinary team and look forward to his contributions as we execute on our strategic initiatives.” Before joining Pine Tree, Scudder served as chief investment officer for Phillips Edison, where he directed the acquisition and disposition of over 300 shopping centers comprising nearly $5 billion in transactions.

INDIANAPOLIS—Lee & Associates, a broker-owned commercial real estate firm, has just hired Rebecca Wells as senior vice president in its Indianapolis office. Scot Courtney, president of Lee & Associates Indianapolis, says the addition will help grow the firm's capital markets team in the Midwest. “We've witnessed a significant increase in client demand for an expanded platform of real estate services in the Midwest, and we are committed to assembling the strongest practice group leaders to better serve their needs. We expect Becky's best-in-class capital markets expertise combined with our existing brokerage team will propel our platform and give our clients access to the best local market knowledge and global reach.” Before Joining Lee & Associates, Wells was an executive vice president within capital markets at JLL, specializing in the sale of office and retail assets throughout the Midwest.

COLUMBUS—Shad Phipps, a senior associate at CBRE's Columbus office, was elected to a three-year term to serve as a member of CCIM Institute's board of directors during the organization's global conference in Toronto, Oct. 14–18. The board serves as the institute's governing body and convenes at its spring and fall annual governance meetings. Phipps has been a CCIM designee since 2005. He was the president of the OH chapter's board of directors in 2012. The CCIM Foundation recently honored Phipps with a named endowed scholarship.

DEALTRACKER

DETROIT—Newmark Knight Frank recently completed two Detroit-area industrial investment sales during the third quarter. In the first transaction, Geoff Hill, executive managing director, and Patrick Shannon, senior managing director, both of the company's Detroit office, arranged the successful sale of 2133-2233 Petit St. in Port Huron, two adjoining industrial parcels totaling 169,000 square feet. Hill and Shannon represented the seller, Lakeport Realty, in the $6.25 million transaction. US Farathane, a plastics manufacturer, has a long-term lease for the property, which was purchased by J & K Property. The pair also arranged the sale of 30700-30900 Stephenson Hwy., a 139,000-square-foot, five-building, hi-tech complex in Madison Heights. They represented the seller, KF Associates, in the $6.3 million transaction. The buyer, 30900 Partners, LLC, represented itself.

GREEN BAY, WI—Bethesda, MD-based Walker & Dunlop, Inc. recently structured a $15.5 million new construction loan for Manseau Flats, a 78-unit, class A multifamily development located along the western bank of the Fox River in Ashwaubenon, WI, a suburb of Green Bay. The developer, Bedford Development, plans to use cutting-edge construction techniques that will help the project qualify for the National Green Building Standard designation. Walker & Dunlop's Brandon Strong, senior vice president, and Chris Rumul, managing director, arranged the loan via the US Department of Housing and Urban Development's 221(d)(4) program. The 40-year, fixed-rate loan includes a two-year construction term and provides both construction and permanent financing. “To achieve the NGBS designation, Bedford will utilize the insulated concrete form wall system,” says Strong. “Not only is this technique environmentally-friendly, but it also provides natural disaster resistance and improves ease of construction.”