Kramont's Former Chairman Joins Urdang & Associates

PLYMOUTH MEETING, PA-Weeks after he unexpectedly resigned as board chairmanof locally based Kramont Realty Trust, Norman M. Kranzdorf, 72, is named SVPof retail, a newly created position at Urdang & Associates Real EstateAdvisors, Inc., also based here.

Kranzdorf’s real estate industry experience spans 40 years. In 1979, hefounded Kranzco Realty Inc., a general commercial real estate management andbrokerage firm. In 1992, he co-founded Kranzco Realty Trust and served aspresident and CEO until June 2000 when it merged with CV REIT to form Kramont. At thattime, he was appointed to a five-year term as chairman of Kramont’s board.

When he resigned on July 14, 2003, Mitchell Brown, Kramont’s director ofmarketing, told GlobeSt.com that Kranzdorf had initially hoped to be moreactive in the business, but the increased importance placed on having anindependent chairman prohibited him from being involved in day-to-day operations.Kranzdorf remains on Kramont’s board for the duration of his five-year term.

From 1972 to 1981, Kranzdorf was president of Amterre Development Inc., asuccessor to Food Fair Properties Inc., a shopping center owner andmanagement company. He continues to serve as chairman of Amterre Property Group LLC, anewly formed shopping center firm.

In addition, Kranzdorf is chairman of the International Council of ShoppingCenters’ bankruptcy task force and is a former ICSC trustee.

In announcing Kranzdorf’s appointment, Richard Ferst, Urdang’s COO, says,”with his knowledge of the shopping center industry and, as the founder of apublicly traded NYSE REIT, he brings a wealth of experience to our company.”