According to Hal Watson, founder and CEO of SNK Realty, promoting Peterson from executive vice president and director of development was a logical progression. "He's been active in that capacity for the past two years. We were overdue in giving him the title to match the duties," Watson tells GlobeSt.com.
Watson says Peterson's goal is to build up the business by identifying and contracting with various potential construction sites, hiring the appropriate people for development and negotiating equity and debt capital for the projects. "I've been acting as president of SNK Development up until now," Watson adds. "Don will handle those duties."
Watson says Peterson's immediate goal is to arrange debt for two projects in Northern California, which will begin construction this year. Peterson also will search for more sites and opportunities in Southern California.
Peterson joined SNK Realty Group in 1996. He's been responsible for the development of nearly 5,000 luxury apartment and condominium units for the company's portfolio. Before coming on board with SNK, he served a stint in the residential lending division of Eureka Bancorp and was financial analyst with the investment banking division of Dean Witter Inc., now Morgan Stanley Dean Witter Inc.
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