[IMGCAP(1)]IRVINE, CA-R.D. Olson Development has promoted Michael Riley to vice president of finance and UGL Equis has hired Thomas Overend of the Overend Co. as part of its Orange County expansion in two recent staffing moves in the county. Irvine-based Olson moved Riley up from director of development, a position he had held since joining Irvine-based R.D. Olson in 2004.

Riley has orchestrated more than $200 million in property financings and transactions. His most recent effort was the company’s $80 million sale of two Marriott Residence Inns in Burbank and Oceanside, CA. In both cases, R.D. Olson Development notes, it held the properties for less than a year after opening and achieved internal rates of returns in excess of 30%.

Riley’s career includes more than 20 years of experience in investment real estate before he joined R.D. Olson. His role as vice president of finance extends from the initial acquisition through the financing phase, then the operation and ultimate sale of the property. Riley also, he negotiates the management agreements with various hotel brands.

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