THOMAS PROPERTIES GROUP PROMOTES SIX MEMBERS OF MANAGEMENT TEAM TO SENIOR VICE PRESIDENT
LOS ANGELES – Thomas Properties Group (NASDAQ:TPGI), a Los Angeles-based real estate investment, development and asset management firm, has promoted six members of its management team to Senior Vice President – Jerry Hackney, Ayahlushim Hammond, Kent Handleman, Todd Merkle, Robert Morgan and Dennis Watsabaugh.
“Our management team is comprised of exceptionally talented professionals from all disciplines. These six individuals are valued members of that team and we are pleased to recognize their leadership and contributions to the growth and success of Thomas Properties Group,” said James A. Thomas, chairman and CEO.
Jerry D. Hackney leads the firm’s property management team across the U.S. His responsibilities include tenant relations, employee development and primary due diligence for property acquisitions. He has more than 25 years of extensive property and facility management experience both in-house for a national development company and as an industry consultant. Hackney earned a bachelor of science degree in business management from Dallas Christian College.
Ayahlushim Hammond leads the firm’s dedicated development management team working on the NBC Universal master plan. She has more than 17 years of experience in real estate and public policy. Prior to joining Thomas Properties Group in 2006 she served as a project manager for the Community Redevelopment Agency for the City of Los Angeles for 15 years overseeing many large and complex projects in downtown Los Angeles.
Kent Handleman manages leasing activities for Thomas Properties Group in Southern California. He has more than 20 years of commercial real estate experience representing in excess of six million square feet of lease transactions. Handleman received his MBA and undergraduate degrees from the Marshall School of Business at the University of Southern California.
Todd L. Merkle is a leader in the firm’s national acquisitions program, identifying and analyzing property opportunities in key markets. Prior to joining the firm in 2004, he had ten years of experience with major investment banking firms working for both public and private real estate clients. Merkle received a bachelor of science in applied economics from Cornell University.
Robert D. Morgan is responsible for managing the firm’s accounting and administration functions. He joined Thomas Properties Group in March 2000 after more than 10 years in the real estate service group at Arthur Andersen LLP. Morgan earned a bachelor of science degree in business administration with a concentration in accounting from California Polytechnic State University at San Luis Obispo.
Dennis Watsabaugh oversees the firm’s many development projects in addition to construction and project management activities for existing properties. He has more than 30 years experience in all aspects of development encompassing large public facilities as well as commercial office projects. He graduated with a bachelor of science degree from Northwest Missouri State University and is a licensed contractor in the State of California.
About Thomas Properties Group
Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages office, retail and multi-family properties throughout the United States. The company has four primary areas of focus: property operations, property acquisitions, property development and redevelopment, and investment management. The company seeks to capitalize on opportunities for above-average risk-adjusted investment returns from real estate ownership, while managing the volatility associated with the real estate industry through joint-venture ownership structures. For more information on Thomas Properties Group, Inc., visit www.tpgre.com.
Forward-Looking Statements:
Statements made in this press release that are not historical may contain forward-looking statements. Although Thomas Properties Group, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from the company's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services, including interest rates, the availability of credit to finance commercial real estate transactions, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management's expectations, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors That May Influence Future Results of Operations" in our 10- K for the year ended December 31, 2005, and contained in the company’s reports on Form 10- Q for fiscal quarters during 2006, which have been filed with the SEC. Thomas Properties Group, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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MEDIA CONTACT: Karen Diehl
Casey Sayre & Williams, Inc.
(310) 396-2400
INVESTOR RELATIONS: Diana Laing, CFO
Thomas Properties Group, Inc.
(213) 613-1900
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