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Officers
Bryce Blair Chairman and CEO
Bryce Blair is Chairman of the Board and Chief Executive Officer of AvalonBay Communities, Inc. Mr. Blair previously held the positions of Chief Operating Officer and Senior Vice President of Development, Acquisitions and Construction. He has overseen the development, construction, acquisition and management of over $10 billion of multifamily assets.
Prior to the formation of Avalon Properties in 1993, Mr. Blair was a Partner with Trammell Crow Residential (TCR) from 1985 to 1993, overseeing multifamily investments in the New England area.
Mr. Blair received his Masters degree in Business Administration from Harvard Business School. He graduated magna cum laude with an undergraduate degree in Civil Engineering from the University of New Hampshire. Mr. Blair is a member of the Young Presidents Organization (YPO), the National Association of Real Estate Investment Trusts (“NAREIT”) where he is on Executive Committee and the Board of Governors, and the Urban Land Institute (ULI) where he serves as a Trustee.
Timothy J. Naughton President
Mr. Naughton is President and Director of AvalonBay Communities, Inc.
Prior to being named President, Mr. Naughton served as Chief Operating Officer (“COO”) for the company, where he was responsible for the performance and coordination of development, construction, acquisitions, dispositions, and property operations. Prior to becoming COO, Mr. Naughton served in variety of capacities with the company, including Chief Investment Officer and Regional Vice-President of Development and Acquisitions. Mr. Naughton has been with the company or its predecessors since 1989.
Mr. Naughton is a member of the Real Estate Round Table, the Multifamily Council of the Urban Land Institute (“ULI”), and the National Multi-Housing Council (“NMHC”), where he serves on the Executive Committee.
Mr. Naughton received his Masters Degree in Business Administration from Harvard Business School in 1987 and earned his undergraduate degree in Economics from the University of Virginia, where he graduated with high distinction and was elected to Phi Beta Kappa.
Thomas J. Sargeant Chief Financial Officer
Mr. Sargeant is responsible for all of the financial operations, including capital markets/finance, financial reporting and financial services of AvalonBay.
Prior to Avalon's formation, Mr. Sargeant served as Group Financial Officer for the Northeast Group, the Mid-Atlantic Group and the Midwest Group of Trammell Crow Residential. He was also responsible for financial services operations (including accounting and financial reporting, cash management, payroll, information systems and internal audit) and project finance for the Midwest Group of Trammell Crow Residential. Mr. Sargeant joined Trammell Crow Residential in 1986 as Controller and was promoted to Chief Financial Officer in 1989 and to Group Financial Officer in 1992. Prior to joining Trammell Crow Residential, Mr. Sargeant was with Arthur Andersen & Co., where he specialized in the construction and real estate industries, serving both private and publicly held clients.
Mr. Sargeant, a certified public accountant, is a magna cum laude graduate of the University of South Carolina where he was elected to Phi Beta Kappa and the Honors College.
Leo S. Horey Executive Vice President - Operations
As Executive Vice President of Property Operations, Leo S. Horey is responsible for the management of all apartment communities for AvalonBay Communities, Inc. Previously, Mr. Horey served as Regional Vice President responsible for all communities on the West Coast. Prior to AvalonBay, Mr. Horey served as Vice President of Operations for Avalon Properties, Inc., where he was responsible for the management of all communities in Virginia, Maryland, the District of Columbia, Indiana, Ohio, Michigan and Minnesota.
Mr. Horey initially served as regional manager of Property Operations for both Avalon Properties, Inc., and Trammell Crow Residential Services. In this capacity, he directed property operations for numerous communities in the Washington, D.C. metropolitan area and coordinated the real estate tax appeal process throughout the Mid-Atlantic area. He began his career with Trammel Crow Residential in 1989 in the community development area in Princeton, New Jersey.
Mr. Horey received his Master of Business Administration from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill, where he was a Richard H. Jenrette Fellow. He holds a Bachelor of Science degree in Computer Science and Economics from Duke University.
Sean J. Breslin Executive Vice President - Asset Management/Redevelopment
Sean J. Breslin is the Company's Executive Vice President—Redevelopment and Asset Management, with responsibility for the Company’s redevelopment and portfolio/asset management activity, including the Company's Market Research function. Prior to assuming his current role in February 2010, he was the Senior Vice President – Redevelopment and Asset Management since 2007, with national responsibility for the Company's redevelopment function, and Senior Vice President --Investments from 2006 through 2007. Mr. Breslin joined the Company as Vice President - Investments in 2002. Prior to joining the Company, Mr. Breslin was the Chief Operating Officer of CWS Capital Partners, where he was responsible for that company’s operations and investment activity. During his tenure with CWS, Mr. Breslin was involved in real estate transactions related to approximately 18,000 multi-family units. Additionally, he directed the company's redevelopment efforts and the funding & completion of development joint ventures. He received his Bachelors Degree from California State University, Long Beach and his MBA from the University of Texas. Mr. Breslin is a member of the Urban Land Institute's Multi Family Council and the National Multi Housing Council. In addition, he is a member of the Executive Committee of the Real Estate Finance & Investment Center at the University of Texas at Austin.
David W. Bellman Senior Vice President - Construction
Mr. Bellman is Vice President for mid/high rise construction throughout all of AvalonBay's markets.
Prior to joining Avalon Communities, Mr. Bellman spent 16 years with Boston Properties, most recently as Senior Vice President of Construction. With responsibility for all New York City construction he oversaw the building of the $125 million 599 Lexington Avenue, a 1 million square foot 50 story office tower, in addition to the Mercer Hotel an historic rehabilitation of a landmark property and the $550 million Columbus Center, a 3.3 million square foot 68 story office, retail and residential building. Prior to moving to New York, Mr. Bellman oversaw the construction of four office parks aggregating to over 1 million square feet in metropolitan Washington, DC.
Mr. Bellman studied Engineering Administration at George Washington University and is a member of the New York City Builders Congress.
J. Richard Morris Senior Vice President - Construction
J. Richard Morris is the Company's Senior Vice President-Head of Construction. Previously, Mr. Morris oversaw construction of garden style apartment communities throughout the entire portfolio.
Prior to joining Avalon Properties in 1996, Mr. Morris worked for regional residential developers in the Mid-Atlantic area, constructing numerous large residential communities.
Mr. Morris graduated cum laude from West Virginia State University with a B.S. in Building Construction. He also completed graduate courses in Engineering Management at the West Virginia College of Graduate Studies. Mr. Morris is a member of the National Association of Home Builders, where he has served on subcommittees for Codes and Standards. J. Richard Morris is the Company's Senior Vice President-Head of Construction. Previously, Mr. Morris oversaw construction of garden style apartment communities throughout the entire portfolio.
Prior to joining Avalon Properties in 1996, Mr. Morris worked for regional residential developers in the Mid-Atlantic area, constructing numerous large residential communities.
Mr. Morris graduated cum laude from West Virginia State University with a B.S. in Building Construction. He also completed graduate courses in Engineering Management at the West Virginia College of Graduate Studies. Mr. Morris is a member of the National Association of Home Builders, where he has served on subcommittees for Codes and Standards.
Jonathan B. Cox Senior Vice President - Development
Mr. Cox, Senior Vice President of Development, is responsible for all new development activity in the Mid-Atlantic and Midwest regions. He joined AvalonBay Communities in 2003.
Mr. Cox has over 16 years of multifamily residential development experience in the Washington D.C. area most recently as a Vice President with The Holladay Corporation. Prior to that Mr. Cox was with the Resolution Trust Corporation and was a Development Director in the Northern Virginia office of Trammell Crow Residential (TCR). He held earlier positions in property acquisitions for syndication sponsors, and he began his career as a CPA with Arthur Andersen & Co.
Mr. Cox graduated from Case Western Reserve University and has an M.B.A. from The Wharton School. Mr. Cox is a member of the Urban Land Institute (ULI).
Frederick S. Harris Senior Vice President - Development
Frederick S. Harris joined AvalonBay in September 1998 as Vice President of Development. He is based in the company's New York City office and directs the company's development activities in New York City, Southern Westchester and Long Island. Since joining AvalonBay, he has overseen the development of over 5,800 apartment homes, in eighteen communities, with a total development cost of over $1.8 billion.
Mr. Harris brings extensive experience in real estate development in the New York area—having worked in the public, not-for-profit and private sectors; as a project attorney at the Natural Resources Defense Council; as a real estate attorney at Paul, Weiss, Rifkind, Wharton & Garrison, and as Deputy General Counsel and then Director of Real Estate for the Metropolitan Transportation Authority. Prior to joining AvalonBay, he was a developer of the first apartment tower of the Queens West master plan development in New York City.
A number of these apartment communities have received awards from national organizations such as the National Association of Home Builders and the Urban Land Institute for the quality of their design and execution, their creative approach to economic and regulatory constraints and their ability to serve as exemplary representatives of best practices in the industry.
Mr. Harris received an AB degree from Williams College, an MS from Polytechnic University and a JD from New York University School of Law. He is a founder and former Director of the National Urban Reconstruction and Housing Agency, a not-for-profit South African Company dedicated to facilitating the delivery of low cost housing in South Africa and which has assisted in the creation of over 200,000 homes. He serves on the Board of Advisors of the Furman Center for Real Estate and Urban Policy at New York University, the New York City Business Advisory Council of the Trust for Public Land, the Advisory Board for Mount Sinai Hospital of Queens and the Board of Governors of the Real Estate Board of New York. Mr. Harris and his family reside in New York City.
William M. McLaughlin Executive Vice President - Development & Construction -Northeast
Mr. McLaughlin, Executive Vice President of Development and Construction, has been with AvalonBay Communities, Inc. or its predecessor Avalon Properties, Inc. for over fifteen (15) years. He is responsible for all of AvalonBay’s development and construction activity in the Northeast including New England, New York and New Jersey, markets where AvalonBay has approximately 50% of its assets. As of Q4 2009, his group is responsible for a pipeline of approximately $3 Billion in new construction and land in the entitlement process. Bill is a member of the Company’s Executive Officer Team and has previously served on its Management Investment Committee (MIC).
Before joining AvalonBay, Mr. McLaughlin was with Lincoln Property Company for seven years, where he was responsible for multifamily development and acquisitions in eastern New England.
Bill began his real estate career as a principal of a small residential development firm in Cambridge, MA and as a broker in Coldwell Banker Commercial’s Boston office.
He was the 2008 Chairman of the Greater Boston Real Estate Board (GBREB), is currently Chairman of GBREB’s Political Action Committee (PAC) and is a two-time past President of its Rental Housing Association (RHA) division. Bill also serves on the Board of Directors at Caritas Communities; is on the Board of Managers of the real estate holdings company JWF, LLC; is on the Board of Overseers at Newton Wellesley Hospital; is on the National Association of Home Builders’ (NAHB) Multifamily Leadership Board; and is a Director of National Association of Industrial and Office Properties (NAIOP) in Massachusetts.
Bill lives in Newton, MA with his wife, Linda, and their six children.
Christopher L. Payne Senior Vice President - Development
As Senior Vice President of Development, Mr. Payne is responsible for initiating and managing new development activity in the Southern California region. Since joining AvalonBay in 2000, Mr. Payne has managed five new development opportunities in Southern California totaling 1,050 apartment homes.
Prior to joining AvalonBay, Mr. Payne was the Senior Development Manager for Belmont Corp., a national assisted-living developer. Mr. Payne's role included managing Belmont's development interests from entitlements through construction on all Southern California developments. Prior to his employment with Belmont Corp., Mr. Payne was a Project Manager with Greystone Homes, a subsidiary of Lennar Corp. At Greystone, Mr. Payne was responsible for forward planning and land development for new single-family home communities throughout Southern California.
Mr. Payne was awarded with honors, a Master of Real Estate Development degree from the University of Southern California in 1996. Mr. Payne was also awarded a Bachelor of Science degree in Business Administration from California State University Fullerton in 1991. In addition, Mr. Payne is a licensed California Real Estate Broker. His professional affiliations include the Urban Land Institute and the California Building Industry Association.
Stephen W. Wilson Executive Vice President - Development & Construction - West Coast
As Senior Vice President of Development, Mr. Wilson is responsible for all development activities for the entire West Coast, including Northern California, Southern California and the Pacific Northwest. He joined the company in March of 1998.
Prior to joining AvalonBay, Mr. Wilson was a Senior Vice President and Chief Operating Officer for SU Development, Inc. of Bellevue, Washington, where he developed multifamily and condominium developments. Prior to that he spent nine years at Continental Pacific, Inc. with responsibilities in development, debt and equity financing, property management and institutional sales.
Mr. Wilson received his Bachelor of Arts in business Administration (Accounting) from Washington State University. He is a Certified Public Accountant and a member of The American Institute of Certified Public Accountants, and the Urban Land Institute. He lives in Los Gatos, CA.
Joanne M. Lockridge Senior Vice President - Finance, Asst. Treasurer and Asst. Secretary
Ms. Lockridge, Vice President - Finance for AvalonBay Communities, Inc., is responsible for financial forecasting and budgeting as well as secured and unsecured financing activity, and is directly involved with capital market execution strategies. Prior to the merger of Bay Apartment Communities, Inc. and Avalon Properties, Inc. in June 1998, Ms. Lockridge had similar responsibilities and held various positions at Avalon since that company's formation in November 1993.
Prior to Avalon's formation, Ms. Lockridge was the Financial Manager for the Northeast Group of TCR with responsibility for budgeting, development project analysis and project financings. Ms. Lockridge joined TCR as a Financial Analyst in 1989 and was promoted to Financial Manager in 1991. Before joining TCR, Ms. Lockridge was a Financial Analyst for Xerox Realty Corporation, where she was responsible for the analysis and asset management of commercial real estate property.
Ms. Lockridge received her Masters in Finance degree from Fairfield University. She earned her undergraduate degree, magna cum laude, from St. Anselm College.
Edward M. Schulman Senior Vice President - General Counsel and Secretary
Edward M. Schulman joined AvalonBay in February 1999 as Vice President-General Counsel. Prior to joining AvalonBay, Mr. Schulman was a partner in the corporate department of Goodwin, Procter & Hoar LLP, where he worked extensively with real estate investment trusts. His experience includes a background in corporate acquisitions, public company mergers and securities transactions.
Mr. Schulman is a Magna Cum Laude graduate of Harvard Law School. He received his undergraduate degree in economics from Princeton University, where he was elected to Phi Beta Kappa and graduated with high honors.
Kevin P. O'Shea Senior Vice President - Investment Management
Kevin O'Shea is a Senior Vice President of Investment Management with AvalonBay Communities, Inc., with responsibility for overseeing the Company’s Fund Management and Risk Management activities. In his capacity as Managing Director for the Company’s two discretionary institutional investment funds, which aggregate $730 million in committed equity capital, Mr. O’Shea is responsible for fund formation, debt financing, capital planning, investor relations and financial reporting for these investment funds. Before joining AvalonBay, Mr. O'Shea was an Executive Director at UBS Securities, where his experience included public debt and equity capital raising transactions and domestic and international M&A transactions as a real estate investment banker. Earlier in his career, Mr. O'Shea practiced commercial real estate and banking law, representing clients engaged in buying, selling, leasing and mortgaging real estate.
Mr. O'Shea holds an M.B.A. from Harvard University, a J.D. from Southern Methodist University and a B.A. from Boston College.
Lili F. Dunn Senior Vice President - Investments
Ms. Dunn is responsible for AvalonBay's national acquisition and disposition activity, acquiring and selling almost 65,000 apartment homes, valued at approximately $6 Billion, over the last fifteen years. Ms. Dunn is also the Managing Director of AvalonBay Value Added Fund, L.P., a discretionary institutional investment management fund. In addition, she helped to direct the company's redevelopment platform, investment strategy and portfolio management initiatives for over ten years. Ms. Dunn has also served as a task force leader during the merger integration process between Avalon and Bay and led the company's market research efforts for almost fifteen years. Before Avalon's formation, Ms. Dunn led the asset management activities for the north region of Trammell Crow Residential. In 1992, Ms. Dunn relocated to Alexandria, VA to become Director of Business Development for the Mid-Atlantic region of Trammell Crow Residential and secured third-party management contracts. Ms. Dunn graduated with highest honors from the University of Michigan where she earned a Bachelor of Business Administration. She is an Executive Board Member of National Multi-Housing Council and also serves as the Chairman of the Finance Committee.
Deborah A. Coombs Senior Vice President - Property Operations
Ms Coombs is responsible for property operations in the Northern California and Pacific Northwest regions. These two regions include approximately 13,000 apartment homes in Seattle, San Francisco, San Jose and the East Bay.
Prior to joining AvalonBay in July 2003, Ms Coombs was Area Vice President for the Southern California region of Equity Residential Property Management. She had day-to-day operational responsibility for 15,000 multi-family units, including over 50 communities and more than 400 employees.
Ms. Coomb's multi-family experience began in 1984 in the Washington, D.C. area and transferred to the Northern California region as Divisional Manager for Trammell Crow Residential. Her diverse career included concept development, collateral design, exterior-interior amenity selection, marketing, budget projections and liaison between owners/developers and construction to provide quality control of new apartment communities.
From 1989 to 1994, Ms. Coombs was the Regional Director of Operations for Lexford Properties of Dallas, Texas. She managed a portfolio of 5,000 multi-family units in Washington and Oregon.
Ms. Coombs received her BA Degree in Education with Distinction from Purdue University. She is presently on the California Apartment Association's Leadership Council and Strategic Planning Committee. She was the 2005 President of the South Coast Apartment Association, a chapter of the California Apartment Association representing landlords throughout Orange and Southern Los Angeles Counties. Ms. Coombs is a Certified Property Manager ("CPM").
Bernard J. Ward Senior Vice President - Property Operations
Mr. Ward is responsible for property operations in the Mid-Atlantic, Mid-West and Northeast regions. There are currently 83 communities consisting of approximately 23,732 units and an additional 10,000 units in the development pipeline within these regions. He joined AvalonBay in 1997, and during this time was responsible for all West Coast Operations.
Before joining AvalonBay, Mr. Ward was Assistant Vice President of New Plan Realty Trust, a REIT based in New York with assets throughout the eastern part of the United States. There he helped grow the apartment portfolio from approximately 2,500 units to 12,000 and oversaw all day-to-day operations of the portfolio. Prior to his tenure with New Plan, he was a partner in Sure Investments; a San Diego based real estate company specializing in the management, acquisition and rehabilitation of apartment communities in Southern California.
Mr. Ward received a Liberal Arts degree from the University of California at San Diego.
Kurt Conway Senior Vice President - Brand Strategy
Alfred Brockunier III Vice President - Construction
Mr. Brockunier is responsible for AvalonBay's mid/high-rise construction activities on the East Coast.
Prior to joining Avalon Properties in 1998, Mr. Brockunier spent 20 years managing construction projects for major New York City General Contractors and Real Estate Developers. The projects included retail, office, hotel, restaurant, school and computer/data facilities including new construction, alterations and additions to complete renovations of buildings. Most recently Mr. Brockunier was Vice President of Construction for Masterworks Development and responsible for the construction of hotels in New York City, Boston, Washington D.C., Philadelphia, Chicago and London.
Mr. Brockunier earned a Bachelor of Science degree in Construction Management from Syracuse University.
Duane W. Carlson Vice President - Construction
Mr. Carlson is responsible for AvalonBay's construction operations in the San Francisco Bay Area.
Prior to joining AvalonBay in 1997, he spent 15 years managing construction projects for developers in Chicago and San Francisco. The projects included office, retail, and industrial, including new construction, alterations and renovations.
Mr. Carlson earned his Bachelor of Science degree in Building Construction from Michigan State University. Mr. Carlson also has a Class B - General Contractors license in the State of California.
Scott R. Kinter Vice President - Construction
As Vice President of Construction, Mr. Kinter is responsible for all wood-frame construction activity in New England and New York State. Since joining Avalon Properties, Inc. in 1994, Mr. Kinter has been associated with the development and construction of twenty-four communities totaling 6,248 apartment homes. Mr. Kinter is currently overseeing 7 new communities under construction.
Prior to joining Avalon Properties Inc. in 1994, Mr. Kinter was a field manager for Yvon Cormier Construction from 1986 to 1993 where he managed single-family home and condominium construction projects.
Mr. Kinter graduated from North Adams State College in 1983, with a Bachelor of Science degree in Business Administration. He is an active member of the Builders Association of Greater Boston, Connecticut Home Builders Association, New York Home Builders Association, Associated Builders and Contractors, and National Fire Protection Association.
Robert S. Salkovitz Vice President - Construction
Mr. Salkovitz is Vice President of Construction leading construction efforts for AvalonBay in the Southern California region. Previously, Mr. Salkovitz held the position of Senior Project Manager in Quincy, Massachusetts before transferring to Newport Beach, California to become Senior Director of Construction.
Prior to joining AvalonBay in 1997, Mr. Salkovitz owned and operated a general contracting firm and concentrating on single and multifamily projects in Massachusetts and southern New Hampshire.
Mr. Salkovitz received AA's in Business Administration from Eckerd College and Building Materials & Technology from the University of Massachusetts. Mr. Salkovitz was a member of New Hampshire Builders & Remodelers Association of New Hampshire (NHBR), and Northeast Builders Association (NEBA) prior to relocating to California.
Keri A. Shea Vice President, Finance & Treasurer
Ms. Shea is responsible for overseeing all of AvalonBay's accounting operations, including its financial reporting and cash management functions.
Ms. Shea joined AvalonBay in 2002 as Assistant Corporate Controller, where she focused primarily on financial reporting and corporate accounting, and was promoted to Corporate Controller in 2005. Prior to joining AvalonBay, Ms. Shea most recently served as the Corporate Controller for two start-up technology companies in the Washington, D.C. area. Prior to that, Ms. Shea was with Arthur Andersen LLP for eight years, where she provided both audit and mergers & acquisition due diligence services to clients in the real estate and financial services industries.
Ms. Shea is a certified public accountant and has a B.B.A. in Accounting from the College of William & Mary.
Sean M. Clark Vice President - Asset Management/Redevelopment
Sean Clark has been with AvalonBay since 2005 and is currently responsible for AvalonBay’s redevelopment and asset management activity on the West Coast. Prior to assuming his current role he was responsible for initiating and developing high-end residential and mixed use communities in the Los Angeles and Ventura county regions for AvalonBay.
Before joining AvalonBay, Mr. Clark spent nearly 8 years with Meta Housing Corporation, a multifamily development company located in Los Angeles, CA. At Meta Housing he was responsible for the development a variety of multifamily product types including mixed income, tax-credit affordable and senior communities. During his tenure at Meta, Mr. Clark oversaw the development and redevelopment of approximately 2,500 units.
Prior to joining Meta, he worked for the City of Glendale’s Redevelopment Agency, where he was involved with major office developments, retail infill programs and the city’s economic development efforts.
Mr. Clark earned a Bachelor of Science degree in Business Administration and Real Estate from California State University, Northridge, and a Masters in Business Administration from Pepperdine University. He is a member of the Urban Land Institute.
Scott W. Dale Vice President - Development
As Vice President of Development, Mr. Dale is responsible for initiating and managing new development opportunities in the Greater Boston Region. Since joining AvalonBay in 1998, Mr. Dale has been associated with the development and stabilization of over 1,000 apartment homes. He currently oversees 4 new communities under construction and a pipeline of 12 new development opportunities.
Prior to joining AvalonBay in 1998, Mr. Dale was the Regional Real Estate manager for General Motors Worldwide Real Estate, managing all new retail development activities as well as an existing portfolio of real estate assets. Prior to General Motors, Mr. Dale was the Regional Real Estate Development Manager for Costco Wholesale, Inc., managing new store development in markets between Pennsylvania and New Hampshire.
Mr. Dale holds a Bachelor of Science Degree in Civil Engineering from the University of Calgary. He also attended Boston University School of Management, from which he graduated Beta Gamma Sigma with a Masters Degree in Business Administration. He is an affiliated member of the Real Estate Investment Advisory Council, the Urban Land Institute, and the Association of Professional Engineers of Ontario.
Mark J. Forlenza Vice President - Development
As Vice President of Development, Mr. Forlenza is responsible for new development activity in Connecticut and New York State. Since joining Avalon Properties, Inc. in 1995, Mr. Forlenza has managed the development activities for 16 stabilized communities totaling 3,484 apartment homes. Currently, Mr. Forlenza oversees development opportunities in the CT/NY area that total 2,484 apartment homes in nine communities.
Previously, Mr. Forlenza was a Project Manager at Ginsburg Development Corporation from 1987 to 1992 where he managed the development and construction of luxury townhouses.
Mr. Forlenza was awarded his Masters in Business Administration and Masters in City and Regional Planning from the University of North Carolina at Chapel Hill in 1995, where he was elected to Beta Gamma Sigma and graduated with high honors. He holds an undergraduate degree in Business from Fordham University, where he graduated summa cum laude. In addition, Mr. Forlenza is a member of the American Planning Association and Urban Land Institute, serves on the Board of Directors for the March of Dimes, serves on the Developer's Council of the Homebuilder's Association, and is a member of Brookfield's Planning and Zoning Commission and the Republican Town Committee.
Brian E. Fritz Vice President - Development
Mr. Fritz joined AvalonBay in June '06 and is responsible for all development activities in the Pacific Northwest. Mr. Fritz is based in the company's Bellevue, Washington office and focuses on developing high-end residential and mixed-use projects throughout the region.
Prior to joining AvalonBay Mr. Fritz was a Managing Director for Trammell Crow Residential where he oversaw the development activities and day to day operations for the Seattle, Washington region. Prior to TCR, Mr. Fritz worked with national developer JPI for over six years. During his tenure with JPI, Mr. Fritz was involved in the development and disposition of over 3,000 multifamily units in four states. Just prior to joining TCR, Mr. Fritz served as Regional Development Manager where he coordinated JPI's development efforts for the states of Colorado, Washington, and Minnesota.
Mr. Fritz started his career in 1992 as a commercial real estate broker where he specialized in multifamily and retail transactions. Mr. Fritz attended the University of Wyoming.
Ronald S. Ladell Vice President - Development
As Vice President of Development for New Jersey, Mr. Ladell oversees AvalonBay’s development and redevelopment activities throughout New Jersey. Mr. Ladell is based in the company’s Woodbridge, New Jersey office and focuses on developing premier residential and mixed-use communities in high barrier to entry markets. Over the last few years, AvalonBay has built communities located in Tinton Falls, Lyndhurst and Lawrenceville and has purchased communities located in Aberdeen and East Rutherford.
Prior to joining AvalonBay, he was the Vice President for Business Development for Pinnacle Communities responsible for commercial and multifamily developments. Mr. Ladell also served as the Vice President, General Counsel and Director of Development for a restaurant and hotel franchisee developing, constructing and operating Marriott hotels and TGI Friday’s and Wendy’s restaurants in the Northeast.
Mr. Ladell began his professional career as a real estate and corporate attorney at Hannoch Weisman. He also was appointed and served as the Planning Board attorney for the Township of Livingston and as a member of Livingston’s Zoning Board of Adjustment. Mr. Ladell is a member of the New Jersey Apartment Association’s Board of Directors and previously served as a Board member for a special improvement district. He is a licensed real estate salesperson.
Mr. Ladell received his JD from Rutgers University School of Law-Newark and his BA from Rutgers College, Rutgers University in New Brunswick. He appears regularly as a panelist for real estate development, finance and legal topics at programs sponsored by the New Jersey State Bar Association, Institute for Continuing Legal Education, International Council of Shopping Centers, New Jersey Apartment Association and publications including Real Estate Forum, New Jersey & Company and NJBIZ. He serves on Real Estate Forum’s Editorial Advisory Board and has been quoted extensively in national publications such as the New York Times and various state, regional and local publications. Mr. Ladell is also as an instructor for the New Jersey Redevelopment Authority and was formerly a political commentator for a radio talk show and a cable television show.
Michael J. Roberts Vice President - Development
As Vice President of Development, Mr. Roberts is responsible for initiating and managing new development opportunities in the Greater Boston Area. Since joining AvalonBay in 1997, Mr. Roberts has overseen the investment, redevelopment and development of over 4,700 apartment homes with a budgeted cost of over $700 million.
Mr. Roberts has over 20 years of experience in the real estate industry where he has been involved in the development, redevelopment, acquisitions, and dispositions of over 19,500 apartment homes and 1.8 million square feet of commercial space. Prior to joining AvalonBay, Mr. Roberts worked for Edison Capital where he was responsible for the origination and investment in tax credit apartment developments. Prior to his employment with Edison Capital, Mr. Roberts worked for Winthrop Financial Associates as Vice President of Investments where he was responsible for originating and investing in both apartment communities and commercial properties. Mr. Roberts received his Bachelor of Arts degree in Economics from Dartmouth College in 1987.
Matthew B. Whalen Vice President - Development
Matthew B. Whalen rejoined AvalonBay in 2003 as Vice President of Development for the Long Island territory. He is responsible for leading the development and acquisition activity in the dynamic Long Island real estate market. He works out of the AvalonBay office in Melville, NY.
Prior to rejoining AvalonBay, Matt was Director for the Northeast Region for Cogent Communications, an optical networking company bringing fiber optics to office buildings in New York, Philadelphia, and Boston. He was responsible for leading a team of professionals to build Cogent's nationwide network of multi-tenant office buildings and was also responsible for the daily operation of Cogent's New York office.
Prior to Cogent, Matt was a Senior Director at AvalonBay responsible for acquisitions and development in the New York region in 1999 and 2000.
In 1998, Matt was Vice President of Homestead Village; a NYSE extended stay hotel company and subsidiary of Security Capital Group. While there, Matt was responsible for the Urban Development program consisting of high-rise projects in the Northeast and Mid-Atlantic totaling over $400 million. In 1995, Matt was Vice President of Security Capital Group in Atlanta and Washington, D.C. responsible for acquisitions and development for the eastern region. Prior to Security Capital Group, Matt was Vice President of Crimson Partners of Herndon, Virginia, a private real estate investment company acquiring and developing commercial properties. He previously worked for Toll Brothers; a NYSE residential developer based in Philadelphia.
Matt is a 1988 graduate of Princeton University where he received a B.A. in History. Matt was the sole captain of the 1987 Princeton varsity football team and subsequently captained the United States Rugby team on two tours in 1998 and 1999.
In 2006, Matt was elected to the Long Island Builders Institute's Board of Directors for a two-year term and began serving as Treasurer in 2007. He is a Board Member of the Institute of Real Estate at Hofstra and also belongs to the Executive Board of both the Long Island Real Estate Group and the Real Estate Practitioners Institute. Matt is a member of the Long Island Association and serves on their Next Generation Housing Committee. He also sits on the Council of Advisors of the Community Development Corporation of Long Island. Matt is an active member of both the Association for a Better Long Island and Action Long Island. Matt received the Long Island Business News' annual award for one of Long Island's 40 rising stars under the age of 40 in 2004. The awards are established to recognize those making substantial contributions to the Long Island Business community. Matt is very active in the community and most recently participated in Habitat for Humanity's 2006 Long Island Builders Blitz where AvalonBay was involved in the effort that built five homes in five days. Matt, his wife and two children live in Garden City, Long Island.
Philip M. Wharton Vice President - Development
Phil Wharton was hired by Avalon Bay in 2004 as a Senior Development Director in the New York Development office. He currently has direct responsibility for two major NY metro projects - Avalon Riverview North and Avalon on the Sound II, each in excess of $150 million development cost. In addition, Phil is actively pursuing new development business for Avalon Bay in Manhattan, Brooklyn, Queens and Westchester County.
Phil has an extensive career in real estate development and investment, having worked previously in a development capacity at LCOR and Lincoln Property Company as well as investment manager for public and private pension funds at Lend Lease's investment advisory group and the Yarmouth Group.
Phil is a graduate of Harvard College and the Wharton School of Business, where he earned an MBA in finance. He is a member of the Urban Land Institute and the Real Estate Board of New York as well as on the board of several charitable organisations. He is married with 3 daughters and currently resides in Larchmont, New York.
Mike F. Nootens Vice President - Engineering and Maintenance
Mr. Nootens joined AvalonBay Communities in 2007 as Vice President, Engineering and Maintenance, to oversee engineering and maintenance services and programs for their national portfolio.
Mr. Nootens has more than 27 years of real estate and consulting experience. He previously served as Vice President of Engineering and Construction for Equity Office Properties' eastern portfolio. In this role his department managed capital planning and project management, redevelopment projects, physical due diligence, engineering training, and environmental and life safety programs for approximately 57 million square feet in over 190 properties. As Director of Engineering for the DC and NY Regions, he had direct operations and engineering management responsibility for six portfolios and 170 operating engineers.
Before joining Equity Office in 1996, Mr. Nootens served as Regional Manager for a national engineering services company, where he had full P&L responsiblity for providing operations engineering labor and management services to commercial and institutional real estate clients. Prior to entering the real estate industry, Mr. Nootens spent over 5 years as an engineer specializing in utility power plant design and construction.
Mr. Nootens earned his Master of Management degree from Northwestern University, and his Master and Bachelor of Science degrees in mechanical engineering from the University of Illinois. He is a licensed Professional Engineer in six states, holds IFMA's Certified Facility Manager designation, and is a member of ASHRAE.
Suzanne Jakstavich Vice President - Human Resources
Suzanne Jakstavich joined Avalon Bay as a Vice President of Human Resources in June of 2007. She previously served as the Director of Human Resources at Crowell & Moring, LLP, an international law firm with more than 700 attorneys and staff members. At Crowell, Ms. Jakstavich managed a team of HR professionals who designed and implemented human resources programs to meet the needs of the short and long term goals of the firm.
Prior to joining Crowell & Moring, Ms. Jakstavich served as Vice President, Human Resources, at BMO Financial Group in Chicago, IL. At BMO, Ms. Jakstavich coached executives on HR initiatives, developed transnational people strategies, and conducted various training sessions. Previous to that assignment, Ms. Jakstavich served in a number of HR leadership roles, including: Global Manager of Leadership Development for Perot Systems Corporation, and Human Resource Manager for Citibank's Global Consumer Group. In these roles, Ms. Jakstavich managed a worldwide staff of human resource professionals who focused on a host of prominent HR issues, including succession-planning, orientation programs, and performance assessment.
A Chicago native, Ms. Jakstavich graduated from the University of Illinois, Urbana-Champaign, with a Master of Arts Degree in Labor and Industrial Relations/ Human Resources Management and a Bachelor of Science Degree in Finance.
Ms. Jakstavich is a member of the Society of Human Resource Management and enjoys participating in the American Society for Training and Development.
Currently a Northern Virginia resident, Ms. Jakstavich maintains a staunch allegiance to the Chicago Bears. In addition to football, she has many other outside interests, including bike riding and spending time with friends and family.
Tsippora Dingott Vice President - Information Services
Tsippora Dingott serves as AvalonBay's Vice President of Information Services, responsible for all internal technology and systems. Prior to that she worked for Realeum as the Senior Vice President of Engineering in charge of product development and operations for the Foundation property management system product line. Tsippora has 25 years of experience in the software industry with a strong focus on commercial enterprise software. She has led departments covering software development, product management, business development, quality assurance and help desk, for both large public companies as well as privately funded start-ups.
Tsippora holds a Master of Science degree in Computer Science from Polytechnic Institute of New York.
Patrick Gniadek Vice President - Investments
Mr. Gniadek is responsible for AvalonBay investment activity in East Coast and Midwest markets which includes acquisitions, dispositions, redevelopment and asset management responsibilities.
Prior to joining AvalonBay Communities, Mr. Gniadek was an Acquisition Partner and Area Vice President for JPI, handling multi-family acquisition and redevelopment activity for various East Coast and Southeast markets. Prior to joining JPI, Mr. Gniadek held positions in multi-family acquisitions and asset management for various real estate investment firms and has participated in the acquisition of over 10,000 multi-family units aggregating over $1B in total transaction volume. In addition to spending the past 10+ years engaged in real estate acquisitions and asset management, Mr. Gniadek spent the initial five years of his career as an accountant within the commercial real estate industry.
Mr. Gniadek graduated from Indiana University with a BS in Accounting in 1991 and is a Certified Public Accountant.
B. Kevin Thompson Vice President - Marketing
Mr. Thompson joined AvalonBay Communities in 2000, bringing nearly fifteen years of diversified marketing & operations expertise to the multifamily industry. His previous experience includes Iams Petfoods (a subsidiary of P&G); Fruit of the Loom Apparel Company, and Promus Hotel Companies (parent corporation for Embassy Suites Hotel, Hampton Inn, and Harrah's Casinos).
Mr. Thompson played an integral role in the development and implementation of a long-term strategic marketing platform that has positioned AvalonBay as the first "national brand" in the luxury segment of the apartment industry. He is responsible for all marketing, communication and customer service functions within AvalonBay Communities. This includes the development of the company's branding strategy and its implementation across all advertising, public relations and promotional materials. His pioneering focus on cybermarketing initiatives has positioned AvalonBay as the leader in internet marketing, and under his direction, the company's website, www.AvalonCommunities.com, was awarded the Pillars of Industry award for "Best Corporate Website" of 2003.
In the September 2005 cover story of MultiFamily Executive magazine, Mr. Thompson was profiled and cited as one the industry's "up and comers" and has also been quoted in Forbes, New York Times, Red Herring Magazine, Multifamily Professional, and other leading publications.
Mr. Thompson holds a Bachelor of Science degree from Western Kentucky University, and currently resides in historic Fredericksburg, VA with his wife and two children.
Danyell D. Alders Vice President - Operations
Ms. Alders is Vice President of Operations for Southern California, responsible for property operations in the Southern California region, including Ventura, Los Angeles, San Bernadino, Orange, and San Diego counties. Since joining AvalonBay in 1997, she has led a variety of asset portfolios with up to 125 associates, and has been directly involved in a number of key projects in the region.
Prior to joining AvalonBay, Ms. Alders led the LA/Orange County region for The ConAm Management Corporation, specializing in fee management. Her multi-family experience began in 1989 with Arnel Management, a prominent Orange County development and management company, where she began as a Leasing Agent and worked through positions of increasing responsibility, until departing in 1995.
Ms. Alders received her BS in Marketing with a minor in Economics from Chapman College, where she was also a member of the women's varsity volley ball team. She is an active member of the South Coast Apartment Association, where she has served as a member of the board of director's for three terms, and currently acts as the Secretary.
Trinity M. Blue Vice President - Operations
Ms. Blue is Vice President of Operations for Metro New York for AvalonBay Communities. Ms. Blue previously held the position of Senior Portfolio Director for Residential Services where she oversaw the operations of the Pacific Northwest market. She has overseen the operations and partnered with development, construction, acquisition of over $49 million of multifamily assets.
Prior to joining AvalonBay in 2003, Ms. Blue was an officer of Archstone-Smith Communities for six years where she oversaw operations in the Pacific Northwest as well as marketing efforts for the entire West Coast. Ms. Blue also oversaw operations for five years in the Seattle market for Equity Residential Trust.
Ms. Blue received her degree in Business Administration from the University of Washington. Ms. Blue is a member of the National Multi Housing Council (NMHC), the National Association of Real Estate Investment Trusts (NAREIT), National Apartment Association, and the Institute of Real Estate Management where she holds her Certified Property Manager (CPM) designation and is a national instructor. Ms. Blue also holds a Washington State Real Estate Broker's License.
Karen A. Hollinger Vice President - Operations
Karen Hollinger is Vice President of Operations of AvalonBay Communities, Inc. and is responsible for enhancing efficiencies of administrative tasks within property operations. Ms. Hollinger joined AvalonBay in 2001 and has held several Director-level positions within the Human Resources Department with oversight for administration, HR systems, and employee relations
Prior to joining AvalonBay, Ms. Hollinger was a Director at a consultancy specializing in PeopleSoft systems implementation from 1998 to 2001. Prior to this, Ms. Hollinger held several management positions at KPMG from 1992 to 1998, where she was a management consultant specializing in accounting systems and IT strategy with clients in the US and in developing countries.
Ms. Hollinger received her undergraduate degree in Finance from The College of William & Mary, graduating with Beta Gamma Sigma honors. Ms. Hollinger is accredited as a Senior Professional of Human Resources (SPHR).
Sarah K. Mathewson Vice President - Operations
Sarah Mathewson, Vice President of Operations, is responsible for the Massachusetts and Rhode Island communities. Since joining AvalonBay Communities, Inc. in 1998 as a Portfolio Manager, she has been responsible for the lease-up or acquisition of 20 communities. Prior to joining AvalonBay, she worked as a a Senior Consultant for Peterson Consulting, specializing in construction and environmental litigation matters.
Sarah has a B.S. in Civil Engineering from Lehigh University and an M.B.A. from Columbia University.
Shannon E. Brennan Vice President - Property Operations
Ms. Brennan is the Vice President of Property Operations for the Mid Atlantic region, which include 25 communities in the Washington, DC and Baltimore metropolitan areas. Throughout her tenure at AvalonBay Communities, Ms. Brennan has been a team leader and a team member on many new policy and procedural issues and product standard boards since the formation of AvalonBay.
Previously, Ms Brennan was the Vice President of Customer Service, a strategic initiative for AvalonBay Communities. She was responsible for developing AvalonBay's company-wide customer service program. Prior to November 2001, Ms. Brennan was Vice President of Property Operations for over 30 communities located in Massachusetts, Rhode Island, New Jersey, and Metro New York. Prior to the formation of Avalon Properties, Ms. Brennan served in several different capacities with Trammell Crow Residential. She began her career with TCR in 1986 in a sales capacity in Connecticut. In 1992, she was promoted from the position of Senior Community Manager of the company's largest asset to Divisional Manager. In 1994, Ms. Brennan relocated to Braintree, Massachusetts to start up the property operations division as a Regional Manager for the newly formed Avalon Properties, Inc. In this capacity, Ms. Brennan oversaw property operations in Massachusetts, Rhode Island, and several Connecticut communities. She has been involved in many third party property management contracts, acquisition, lease-up and disposition communities.
Ms. Brennan held the position of Vice President of Boston's Apartment Association, the Rental Housing Association (RHA). Additionally, she was on the National Apartment Association's (NAA) Education Board. Ms. Brennan received her Bachelor of Science degree from Florida Southern College and has completed continuing education courses at Radcliffe College.
Mona R. Stahling Vice President - Property Operations
Ms. Stahling is responsible for managing and overseeing all policies and procedures impacting property operations on a nationwide basis as well as the evaluation and deployment of new initiatives for AvalonBay Communities, Inc. Additionally, Ms. Stahling is responsible for all liaison activities coordinating property operations and other functional areas within AvalonBay. Ms. Stahling chairs the Operations Committee and is a member of the Technology Committee.
Ms. Stahling began her career with Trammel Crow Residential in Richmond, Virginia in 1984. Prior to her current position, she was a Senior Portfolio Director overseeing communities in the Mid-Atlantic and Mid West regions of AvalonBay. She was integrally involved in determining the "Best Practices" during the merger of Avalon Properties and Bay in 1998. Ms. Stahling was involved as the lead subject matter expert on the design of Realeum Foundation for AvalonBay Communities, Inc.
She received her Bachelor of Science Degree in Business Administration from the University of Maine.
Lyn C. Lansdale Vice President - Strategic Business Services
Lyn Lansdale is the Vice President of Strategic Business Services for AvalonBay Communities. In this position, Ms. Lansdale has responsibility for the due diligence, negotiation, and selection of telecommunications, Internet, and other service providers for new construction communities and the existing portfolio. Ms. Lansdale's group within AvalonBay Communities, Inc. acts as an incubation group for new products, services and business processes such as revenue management -- designing and implementing pilot programs for possible company-wide implementation. In addition, Ms. Lansdale is involved in the investigation and implementation of specific utility reimbursement, procurement, energy efficiency and energy conservation initiatives throughout the portfolio.
Ms. Lansdale began her career with the company in June 1989 as Regional Manager for Trammell Crow Residential in the Mid Atlantic region where she remained on the operations side for seven years. She also assisted with Human Resources functions and training for several of those years. In 1996, she assumed her current position. She is an active member of the National Multi-Housing Council, participating in various lobbying efforts on Capitol Hill on behalf of multi-family apartment owners and is has served on the Board of the Independent Multi-family Communications Council (IMCC).
Prior to joining the AvalonBay predecessor company in 1989, Ms. Lansdale worked in the hotel industry in the all-suite extended stay segment for five years. She holds an MBA from The Darden School at the University of Virginia and is a magna cum laude graduate of the University of South Carolina where she was elected to Phi Beta Kappa and the Honors College.
Craig Thomas Vice President - Market Research
Board of Directors
Bryce Blair Chairman & CEO
Bryce Blair is Chairman of the Board and Chief Executive Officer of AvalonBay Communities, Inc. Mr. Blair previously held the positions of Chief Operating Officer and Senior Vice President of Development, Acquisitions and Construction. He has overseen the development, construction, acquisition and management of over $10 billion of multifamily assets.
Prior to the formation of Avalon Properties in 1993, Mr. Blair was a Partner with Trammell Crow Residential (TCR) from 1985 to 1993, overseeing multifamily investments in the New England area.
Mr. Blair received his Masters degree in Business Administration from Harvard Business School. He graduated magna cum laude with an undergraduate degree in Civil Engineering from the University of New Hampshire. Mr. Blair is a member of the Young Presidents Organization (YPO), the National Association of Real Estate Investment Trusts (“NAREIT”) where he is on Executive Committee and the Board of Governors, and the Urban Land Institute (ULI) where he serves as a Trustee.
Bruce A. Choate
Bruce A. Choate has been a director of the Company since April 1994. In December, 2002, Mr. Choate was elected to the Board of Directors of Watson Land Company, a privately-held real estate investment trust “REIT”) in Carson, California. At that time, Mr. Choate was also appointed as its President and Chief Executive Officer. Prior to December 2002, Mr. Choate had served since 1991 as Watson Land Company’s Chief Financial Officer. Prior to joining Watson Land Company, Mr. Choate was employed by Bixby Ranch Company, a privately-held real estate investment company in Seal Beach, California, as Senior Vice President and Chief Financial Officer. Previously, Mr. Choate held various management positions with national banking and mortgage banking organizations. He holds membership in the ULI, NAREIT, the Real Estate Investment Advisory Council, The Real Estate Round Table, and the National Association of Industrial and Office Property, and he serves on the Board of Directors of Standard Pacific Corp., the Los Angeles Area Chamber of Commerce and the Los Angeles' Economic Development Corporation and is a charter member of the Southern California Leadership Council.
John J. Healy Jr.
John J. Healy, Jr. has been a director of the Company since 1996. Mr. Healy is Co-Founder and CEO of Hyde Street Holdings, Inc., an investor in real estate and real estate related entities. Previously, Mr. Healy co-founded the Hanford/Healy Companies (1988), a real estate investment, asset management and consulting company, which was purchased by GMAC Commercial Mortgage, a subsidiary of General Motors, in September 1996. Mr. Healy has also held various management positions with real estate and financial firms including: The Federal Asset Disposition Association (predecessor to the Resolution Trust Corporation), Bank of America (COO and Director of Technical Services for a real estate subsidiary) and Manufacturers Hanover Trust Company (VP). Mr. Healy sits on the boards of AMB Alliance Fund III (Independent Council) and The Rosalind Russell Research Center for Arthritis (“UCSF”). Memberships in professional associations include: ULI, American Society of Real Estate Counselors (“CRE”), American Institute of Real Estate Appraisers (“MAI”), National Association of Corporate Directors (“NACD”), and Fellow—Royal Institution of Chartered Surveyors.
Timothy J. Naughton
Mr. Naughton is President and Director of AvalonBay Communities, Inc.
Prior to being named President, Mr. Naughton served as Chief Operating Officer (“COO”) for the company, where he was responsible for the performance and coordination of development, construction, acquisitions, dispositions, and property operations. Prior to becoming COO, Mr. Naughton served in variety of capacities with the company, including Chief Investment Officer and Regional Vice-President of Development and Acquisitions. Mr. Naughton has been with the company or its predecessors since 1989.
Mr. Naughton is a member of the Real Estate Round Table, the Multifamily Council of the Urban Land Institute (“ULI”), and the National Multi-Housing Council (“NMHC”), where he serves on the Executive Committee.
Mr. Naughton received his Masters Degree in Business Administration from Harvard Business School in 1987 and earned his undergraduate degree in Economics from the University of Virginia, where he graduated with high distinction and was elected to Phi Beta Kappa.
Lance R. Primis Lead Independent Director
Lance R. Primis has been a director of the Company since June 1998. Effective January 1, 2003, Mr. Primis was designated the Lead Independent Director of the Company (see “Board of Directors and its Committees—Lead Independent Director”). Since 1997, Mr. Primis has been the managing partner of Lance R. Primis & Partners, LLC, a management consulting firm with clients in the media industry. From 1969 to 1996, Mr. Primis was employed in various positions by The New York Times Company, including the positions of President and Chief Operating Officer, which he held from 1992 to 1996. In addition, Mr. Primis was the President and General Manager of The New York Times from 1988 to 1992. In addition, Mr. Primis is a member of the Board of Directors of Torstar Corporation, Metro International S.A., and Plum Holdings, LLC.
Peter S. Rummell
Mr. Rummell has served as CEO of Rummell Company since August 2009. He served as CEO of Nicklaus Companies from August 2008 until July 2009. Before, he served as Chairman and CEO of the The St. Joe Company, one of Florida's largest real estate operating companies and the state's largest private landowner, from January 1997 until July 2008. From 1985 until 1996, he served as President of Disney Development and then as Chairman of Walt Disney Imagineering, the division responsible for Disney's worldwide creative design, real estate, research and development activities. From 1983 until 1985, he was Vice Chairman of the Rockefeller Center Management Corporation in New York City.
H. Jay Sarles
H. Jay Sarles has been a director of the Company since September 2005. Mr. Sarles is a private investor and senior advisor to Nautic Partners, a private equity company that manages $1.5 billion in assets. Mr. Sarles retired as Vice Chairman of Bank of America in March 2005. Prior to joining Bank of America in 2004, Mr. Sarles served in a variety of executive positions with FleetBoston Financial Corporation and its predecessors, including Vice Chairman and Chief Administrative Officer from December 2002 and Vice Chairman, Wholesale Banking prior to that. Mr. Sarles is a director of Ameriprise Financial, Inc., Carlyle Capital Corporation, Limited, Dental Service of Massachusetts and DentaQuest Ventures, Inc., and MBNA Europe Bank Limited, an indirect subsidiary of Bank of America, and is a trustee of Mount Holyoke College.
W. Edward Walter
W. Edward Walter has been a director of the Company since July 2008. He has served as President and Chief Operating Officer of Host Hotels & Resorts, Inc. ("Host"), a premier lodging real estate company, since October, 2007. From 2003 until October, 2007, he served as Executive Vice President and Chief Financial Officer of Host. From 1996 until 2003 he served in various senior management positions with Host, including Chief Operating Officer. Prior to joining Host, Mr. Walter was a partner with Trammell Crow Residential Company and the President of Bailey Capital Corporation, a real estate firm that focuses on tax-exempt real estate investments. He also serves on the Board of Directors Friendship Public Charter School, the largest charter school system in the District of Columbia, and the National Kidney Foundation.
