Colton, 57, has served at Harvard since mid-1999. From 1984 to 1999 he served as executive vice president, then CEO of NAHB. He is now president of KColton LLC, a consulting and housing research company in McLean, VA.

Cornerstone has operated as a REIT since 1993. The company's focus is multifamily housing in various markets of Virginia, North Carolina, South Carolina, George and Texas. Cornerstone owns 75 apartment communities with 18,976 units.

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