IRVINE, CA—After a 14-year career with AvalonBayCommunities, Christopher Payne is joiningSares-Regis Group as president of multifamilydevelopment and will become a partner in the diversified realestate development and management company.

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Payne also will be taking on key management responsibilitiescurrently held by SRG managing director GeoffreyStack, who gradually will be scaling back from day-to-dayinvolvement with the company he co-founded in 1993.

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“Chris has had an extremely successful career at AvalonBay,running the multifamily development business in SouthernCalifornia. This includes the acquisition, entitlement,design and construction of various multifamily product types forboth urban and suburban locations throughout the six-county regionduring his tenure in their Newport Beach office,”Stack said.

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Even though SRG is privately held and AvalonBay is a publiclytraded real estate investment trust, Stack said they are “similarin their integrated platforms of development, construction,investments and property management.”

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Previously, Payne managed new development activity forBelmont Corp. in Southern California and began hiscareer with Greystone as a project manager for newhome developments. Payne received a B.S. in business administration/ Finance from California State University,Fullerton in 1991, and a masters in real estatedevelopment from the University of SouthernCalifornia in 1996.

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“Chris will bring a wealth of experience to our multifamilydevelopment and construction business. He will become a partner inthe firm over the next several years and will take on themanagement responsibilities which I currently hold. Chris is anoutstanding individual of great integrity, strong work ethic andexceptional leadership skills. He will be a tremendous addition tothe SRG team,” Stack said.

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SRG was formed through the strategic alliance of two West Coastreal estate companies. The merger of The RegisGroup, a residential development firm that Stack launchedin 1977, and The Sares Companywith its principals John Hagestad and William Thormahlen hasprovided expertise in all facets of residential and commercial realestate.

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With approximately 600 employees, SRG is amongthe leading developers and managers of commercial and multifamilyreal estate in the western United States.It has developed oracquired 40 million sq. ft. of commercial projects valued at $4billion. Sares-Regis Group is California's leading privately helddeveloper of LEED-certified apartments andcommercial buildings.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.