Sim, who has been with the firm since 1981, has been appointedto the newly created role of chairman of the Investment PropertiesGroup by company chairman Donald Bren. Sim will be replaced aspresident by Clarence Barker, formerly president of IrvineApartment Communities.

"When Donald bought control of the Irvine Company in 1984 heasked me to start the Investment Properties Group," Sim says. "WhenI took over we had three-million sf of income properties. Today wehave 30 million sf and it's all rented, and we're approaching30,000 apartments. What we did was we had the apartments broken outas a separate company because at one time it was a public company.We thought it was time to bring it all together."

Sim will join Bren, and the company's CFO and vice chairman MikeMcKee, as the founding members of the newly formed OperationsManagement Committee, which will coordinate the company's twooperating groups. "We have a commercial side and a residentialside," Sim says.As president of the Investment Properties Group,Barker will join with Joseph Davis, president of Irvine CommunityDevelopment Co., in reporting directly to the Operations ManagementCommittee. Max Gardner, who is currently EVP of Irvine ApartmentCommunities, has been promoted to president of IAC and will reportdirectly to Barker.