SANTA ANA, CA-Grubb & Ellis Apartment REIT Inc. has appointed Gustav Remppies as president of the company, effective immediately. Stanley J. Olander, who had served as president since April 2007, will continue to serve as chief executive officer and chairman of the board.

Remppies has specialized in the multifamily housing sector for more than 23 years. Prior to being named president, Remppies had served as executive vice president and chief investment officer of Grubb & Ellis Apartment REIT since its formation in 2005.

From 1995 to 2005, Remppies served in various executive capacities with Cornerstone Realty Income Trust, where he oversaw the acquisition and development of approximately 30,000 apartment units and the placement of more than $500 million in both secured and unsecured debt with a variety of lenders. He has been involved in the formation and senior management of four other non-traded REITs, all of which have had successful liquidation events for investors.

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