Tipton, who formerly was a VP at San Francisco-based M&H, will be responsible for identifying and acquiring commercial land parcels and existing properties for Shea. Tipton's post is a newly created position at Shea, according to Stephen Stambaugh, CFO and CIO of Shea Properties. Stambaugh notes that Shea has access to "significant internal capital and institutional finance options," so the company can consider any type of commercial real estate opportunity in its efforts to add to its current commercial portfolio of approximately 4.6 million sf.
Shea will be looking for a broad range of deals: acquisitions of value-added property slated for redevelopment or improvement, vacant land for new development, and rights to commercially zoned land in large-scale master planned projects, for example. The company's current projects include Trio, the redevelopment of a full city block as a mixed-use residential and retail property in the city of Pasadena's Playhouse District.
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