Winn to Head Fortus Property Group

IRVINE, CA-GlobeSt.com has learned exclusively that William H. Winn has been named president and CEO of Fortus Property Group, a vertically integrated retail investment and operating company here. Winn joins the firm at the end of this month and, in his new role, will work to expand its portfolio.

According to David Lee, founder of Fortus, “Bill brings a strong track record of success to Fortus, having taken his previous employer, Passco, from an asset-management, leasing and property-management platform to a national market leader in the acquisition and management of commercial properties located throughout the US.” Lee added in a prepared statement that during his 14-year tenure, Winn “led a diversified acquisition strategy that significantly expanded that company's portfolio from retail to industrial and multifamily. I look forward to his leadership in helping Fortus expand its breadth of services and diversify its real estate investment opportunities.”

In 2012, Lee re-launched Diversified Equity Investment Corp., a real estate investment firm he founded in 1998, under the name Fortus Property Group. In its newer incarnation, Lee has added a team of industry veterans to build a deeper retail investment platform. The executive team behind Fortus has been responsible for real estate transactions valued at more than $20 billion.

Winn added in the statement, “I have known David Lee for many years, and over that time have built tremendous respect for his highly principled approach to real estate investment. He is adept at creating and building a culture of trust, vision and creativity that leads to financial success for his companies and investors.” He added that working for Fortus affords him “an exciting opportunity to leverage my experience at building companies and investment portfolios within a truly opportunistic and proven platform.”

As GlobeSt.com reported last month, with vacant space decreasing from fourth-quarter 2012 and nearly 70,000 square feet of positive net absorption for the first quarter, the Orange County retail market is displaying positive indicators, according to a market report from Voit Real Estate Services. Average asking triple-net lease rates appear to be stabilizing, but stability and job growth will need to continue in the coming quarters to sustain a recovery.