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CHICAGO-Equity Residential Properties Trust president and CEO Douglas Crocker II is planning for retirement, and is leading the search for his own successor at the helm of the largest multifamily rental REIT in the US. Equity Residential has hired executive search firm Heidrick & Struggles International to help find a president to replace Crocker, 61.

There will be ample grooming time, Crocker promises.

“I am committed to personally leading the company for the next three years,” Crocker says. “However, the day will come when it is time for me to retire, which means the time is now to ensure that we have evaluated all options, internal and external candidates,and have a plan in place regarding the future senior management team.”

The long-term planning will be led by Crocker along with the compensation committee of Equity’s board of directors.

A veteran of more than 30 years in the real estate industry, Crocker is chairman of the Multifamily Gold Council of the Urban Land Institute, vice chairman of the National Multi-Housing Council and vice chairman of the National Realty Committee. He also serves on the boards of the National Association of Real Estate Investment Trusts, National Apartment Association, Center for Urban Land Economics Research at the University of Wisconsin-Madison and Policy Advisory Board for the Fisher Center for Real Estate & Urban Economics.

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