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SANTA ANA, CA-Passco Real Estate Enterprises Inc. has hired Gary Smith for the newly created position of VP of asset management at the firm, a specialist in tenant in common transactions involving 1031 exchanges. William Winn, Passco’s COO, says the firm was seeking someone with experience in strategic management, leasing, turnaround and re-positioning of properties. In his new role with Passco, Smith will take on asset management responsibilities for a portfolio of more than six million sf of regional malls, neighborhood centers and industrial properties. The new Passco VP formerly held executive positions with GMS Realty, AEW Capital Management and MassMutual Life Insurance Co. His responsibilities have included asset management, leasing, re-positioning, acquisitions, dispositions, loan workouts, strategic planning and development/redevelopment project management. As the VP of the asset management group at GMS, which is a joint venture with Morgan Stanley that was re-capitalized with Principal Financial Group and the State of Washington Investment Board, Smith played a key role in acquiring, managing, leasing, financing and re-developing a 6.5-million-sf portfolio of 42 retail shopping centers in the Western US.

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