At the company since 1984, Kaline was in charge of the company'sassetmanagement, including leasing, acquisitions, development andredevelopmentactivities, and property management.He also serves asan associate real estate broker of thecompany.

Malan has been shaky since a proxy fight earlier this yearousted its board.The battle and a change of control agreement costthe company $3.4 million.Paul Gray, chairman of the new board, saysKaline will help strengthen thecompany."Michael is well regarded bythe REIT community, the nation'sleading retailers, investors andshareholders for his knowledge ofthe industry and numerousaccomplishments," says Gray, alsoco-founder and executive vicepresident of Kensington Investment Group Inc.in Orinda, CA.

Malan owns, acquires, redevelops andmanages properties that areleased primarily to national and regional retailcompanies. Thecompany owns a portfolio of 64 properties located in ninestateswith an aggregate of approximately 5.9 million sfof GLA.