[IMGCAP(1)] LOS ANGELES-The former treasurer of California, Phil Angelides, has signed on to be a principal of Canyon Capital Realty Advisors . He will also be chairman of the newly created Canyon-Johnson Urban Communities Fund, which will focus on acquiring, improving and greening residential rental and mixed-use properties in urban communities across the country. As chairman, Angelides will help to expand the firm’s presence in the real estate investment marketplace. The fund will invest more than $2 billion to buy as many as 10,000 existing rental units in major US markets with the goal of upgrading them, adding amenities and improving management, as well as making them environmentally friendly. The executive will focus on new investment initiatives in the areas of urban infill, smart growth, green building and infrastructure.

Angelides has worked on various private- and public-sector projects over the past 30 years. He was treasurer between 1999 and 2007, and the Democratic nominee for governor in 2006. Prior to joining public office, he led his own real estate investment firm that managed some $500 million in communities with more than 15,000 new homes.

BIRMINGHAM, AL-Paul Earle has been promoted to chief operating officer at Colonial Properties Trust. Since 1997, he has served as executive vice president of multifamily for the locally based REIT, which he joined in 1991. He will oversee the operations of all the firm’s owned or managed multifamily properties, as well as its property operations. Taking Earle’s former role is Ray Hutchinson. He joined Colonial in 2004 and has served as senior vice president, multifamily.

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