Remppies has specialized in the multifamily housing sector formore than 23 years. Prior to being named president, Remppies hadserved as executive vice president and chief investment officer ofGrubb & Ellis Apartment REIT since its formation in 2005.
From 1995 to 2005, Remppies served in various executivecapacities with Cornerstone Realty Income Trust, where he oversawthe acquisition and development of approximately 30,000 apartmentunits and the placement of more than $500 million in both securedand unsecured debt with a variety of lenders. He has been involvedin the formation and senior management of four other non-tradedREITs, all of which have had successful liquidation events forinvestors.
"Gus Remppies has been a recognized authority in the multifamilyreal estate sector for decades and I couldn't be more pleased tohave him assume the presidency of Grubb & Ellis ApartmentREIT," says Olander in a prepared statement. "His experience andproven track record are exceptionally valuable to our company and,more importantly, to our investors."
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