According to company president Allen Hartman, the personnel movewill help the company move from value-add opportunities throughacquisition to boosting equity through direct ground-updevelopments and financing of joint venture projects. The mainproduct type under consideration will be free-standing,single-tenant buildings. The company will also continue itsacquisition and upgrade assets.

The developments and partnerships will be financed throughHartman Short-Term Income Property 19, a $50-million fund withpotential leverage to $100 million. The fund will be ready forlaunch by early next year. In the meantime, MacAlister, who willofficially begin his job in October, is working on a joint ventureinvolving an investment-grade tenant build-to-suit in Florida, andsays the deal should close within the next month. "The excitingprospect about all of this is, based on discussions with tenant anddevelopment partners within the past week, is that we anticipatebeing able to develop 10 to 15 similar deals annually," MacAlistersays.

Hartman tells GlobeSt.com MacAlister was hired because of hisoutstanding track record. In his previous position as director ofdevelopment for Winstar Development in Rexford, NY, the 23-yearreal-estate veteran spearheaded $166 million worth of developmentswithin a two-year period. "He has the knack and contacts and knowshow to get it done," Hartman adds.