The volume represents one of the company's most aggressive assignments in years. Wells bought $300 million worth of properties last year and expects to do $750 million this year, according to David Steinwedell, managing director of acquisitions and dispositions.
"To manage this anticipated activity and to meet our investment goals going forward, we brought on three real estate professionals who have the experience to take us to the next level," Steinwedell says in a prepared statement.
"The addition of these three individuals allows us to create a regional acquisitions structure in line with Wells' long-term strategic plan," Steinwedell says. "This team has both the knowledge and experience to handle any transaction that may present itself."
The three directors are Joe Pangburn, Southwest; Clay Adams, Midwest and Northwest; and Jeff Gilder, East.
Pangburn is a former vice president of Lend Lease Real Estate Investments Inc. and a former vice president at Prentiss Properties Ltd. Inc. where he managed the 1.1 million-sf One Atlantic Center in Midtown Atlanta.
Adams was head of asset management for Atlanta-based Goddard Investment Group and is a former assistant vice president ;of acquisitions and development for Brannen/Goddard Co. and senior investment analyst for CGR Advisors.
Gilder was vice president of acquisitions and dispositions for BVT Institutional Investments and is a former vice president of investment management for Baita International and an asset manager with ING Investment Management.
Wells completed 24 transactions valued at $600 million in the past two years.
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