Wells managing director Ray Owens will oversee the West Region staffed by Joseph Pangburn, Peter Mitchell and Shak Presswala. Joe Oglesby will represent Florida and also is responsible for all national build-to-suits assignments, according to a prepared statement by Wells' chief investment officer David Steinwedell.
The company's real estate finance team is now part of the capital markets group reporting to Steinwedell. That group includes Owens, Chris Daniels and Lisa Carr. Acquisitions, real estate finance, development and closings are being handled by the capital markets unit. Wells has closed on build-to-suit projects totaling $100 million over the past three years, says Steinwedell.
The finance team has established lines of credit totaling $1.7 billion and closed new loan originations totaling $1.1 billion over the last two years. In the same timeframe, Wells-sponsored investment programs assumed $240 million in existing debt through new acquisitions.
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