NEW YORK CITY—Melissa Gliatta, an executive with Thor Equities since 2003, has been promoted to COO of Thor Equities North America.

Gliatta previously served as EVP with Thor Equities. She worked with Thor Equities CEO Joseph Sitt when he was running Ashley Stewart, a women's retail clothing chain he founded in 1991. Gliatta joined Ashley Stewart four years later and played a key role in helping that firm grow to 380 stores in more than 100 cities.

Sitt divested his interest in Ashley Stewart to focus solely on Thor Equities in 2000. Gliatta was named VP of Thor in 2003 where she focused on operations and management of the company's commercial real estate portfolios. She was promoted to EVP in 2010.

In her new role as COO, she will work closely with Sitt to expand Thor Equities' business activities throughout North America, the company states. Her responsibilities include overseeing asset management, leasing, human resources, development and construction, as well as marketing and property management.

Thor's holdings in North America are located in such major markets as New York, Chicago, Miami, Los Angeles, San Francisco, Washington, DC and Houston, as well as St. Catherine Street in Montreal.

"Melissa has been an integral part of our company for over two decades. Her strong leadership and operational skills have enabled us to attract a team of dedicated and experienced professionals, and help grow Thor into a full-service firm with offices throughout the United States, Europe and Latin America," says Sitt.

In November, Sitt said he was bullish on real estate in North America. Participating at a real estate conference put on by the Georgetown University's McDonough School of Business—in conjunction with the Wall Street Alliance, Sitt said, "We're in a sweet spot with macro trends, given the low interest rates, and low leverage. I'm bullish not just on New York but on Atlanta, Denver, Nashville, Portland, Seattle; real estate in general. I think of the industry as service providers who deliver space to those who need it."

The company also reported in November that it acquired its first property in Italy, an 85,000-square-foot luxury retail, office and residential property in Milan.