The acquisitions program concentrates on institutional grade, three- and four-star assets in selected markets between metropolitan Boston and Washington, DC. Shah is the previous managing director of locally based Hersha Group, a hotel development, ownership and management organization with 20 hotels in the Northeast.
In other news, locally based RAIT Investment Trust named Robert W. Cade VP and director of originations. He was previously a senior underwriter in the large loan CMBS Group at Merrill Lynch. In his new post, Cade is responsible for generating lending opportunities for RAIT, a specialty finance company focused on the mid-size commercial real estate market.
Additionally, BR Management, the property management affiliate of Berwind Property Group, also based here, was renamed BPG Management Services Inc. It currently manages more than 5.8 million sf in 30 office, retail and industrial facilities in the Delaware Valley region.
Plymouth Meeting, PA-based Brandywine Realty Trust also made changes by naming Margaret R. Kornblum VP of organizational development. She is the former VP of human resources at Frazer, PA-based Harron Companies.
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