CHICAGO—Equity Office, an affiliate of the Blackstone Group and one of the largest office landlords in the US, has just appointed Eli Khouri as its new president and chief executive officer. Khouri succeeds Tom August, who is retiring, and will take over at the end of September. August will continue to serve on Equity's board.

The Chicago-based Equity currently oversees about 58 million square feet of class A office space. Blackstone acquired it in a 2007 blockbuster deal for $39 billion and has been selling off much of the portfolio. Last spring, Jon Gray, global head of real estate for Blackstone, spoke at an event in Washington, DC and said the company expected to eventually triple its original investment in Equity.

“I'm delighted to welcome Eli to the Equity Office team,” Gray said in a statement. “Eli is a leader within the industry, with an exceptional track record of successful capital deployment and value creation.”

Khouri has more than 30 years of real estate investment and operations experience. He joins from Los Angeles-based Kilroy Realty Corp., where he served as executive vice president and chief investment officer. Prior to that, he was the co-founder and managing director at Broadreach Capital Partners and chief investment officer at Spieker Properties.

“I'm pleased to have someone of Eli's stature step into the role of chief executive officer,” said August. “Eli's background will serve him well in this role and I look forward to working alongside him in my continued role as a board member.”