Real estate investment manager Cornerstone Real Estate Advisers has appointed Scott D Brown as president of the firm.
Brown, 50, will join Cornerstone on 3 February, taking over the role of president from David J Reilly, who remains Cornerstone's chief executive officer.
"After careful consideration and an extensive succession planning process, Cornerstone is delighted to have attracted a candidate of the calibre and experience of Scott to help us continue our growth, both domestically and globally," says Reilly. "Scott has a sterling reputation in the industry and I personally look forward to working closely with him as Cornerstone enters its next phase of growth."
Brown brings more than 26 years of experience in the real estate industry, having led large teams and businesses through the investment decision making process. He has been involved in dozens of major domestic and global transactions, including joint ventures, co-investments, clubs, preferred equity, performing and non-performing debt, securitisations, REITs, secondary and primary funds, and direct property investments.
Brown joins Cornerstone from CBRE Global Multi Manager (GMM) where he was the head of the Americas. He was a member of the investment committee, of the CBRE GMM board of directors, and of the CBRE Global Investors Americas operating board. He was also an advisory board member for a large number of investment vehicles in the US, Mexico and Brazil.
"I greatly admire what Dave and the rest of the Cornerstone team have been able to accomplish in recent years, positioning Cornerstone as one of the pre-eminent global real estate investment managers," says Brown. "I am thrilled to be joining Cornerstone at such an exciting time."
Brown was formerly head of global real estate at Ennis Knupp + Associates (now Hewitt EnnisKnupp, an Aon Company) where he established the global real estate practice and chaired the global investment committee. Brown also previously held the positions of senior department head of The PrivateEdge Group at State Street Corporation, and consulting manager at Kenneth Leventhal & Co.