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NEWPORT BEACH, CA-KBS Capital Markets Group has named Mike Crimmins, former national sales manager, to the posts of CEO and managing director. Crimmins will succeed Greg Brakovich, who helped found KBS-CMG in 2005 and is leaving the CEO post to pursue other ventures.

KBS Capital Markets Group is an affiliate of KBS Capital Advisors and KBS Realty Advisors, and the dealer-manager for KBS Real Estate Investment Trust I and KBS Real Estate Investment Trust II. Crimmins, who brings more than 20 years of industry experience to his post, was appointed earlier this year as national sales manager for KBS-CMG, a fast-growing national sales and distribution operation, notes KBS CEO Chuck Schreiber. In his new post, Crimmins will now also serve as the group’s registered principal, responsible for the day-to-day operations and oversight of both internal and external wholesaling operations and activities.

Before his appointment to KBS-CMG as national sales manager, Crimmins served as the group’s divisional vice president. He came to KBS in 2005 after five years as western division sales manager at AXA Distributors LLC, in St. Louis. Before that, he served as an executive sales consultant for the Guardian Life Insurance Company in St. Louis. In his new post, he will split his time between Newport Beach and St. Louis.

KBS Capital Advisors, the adviser for KBS REIT I and KBS REIT II, is a private equity real estate company and SEC-registered investment adviser founded in 1992 by Schreiber and Peter Bren. Since 1992, KBS has completed transactions totaling more than $16.5 billion via 19 separate accounts, six commingled funds and two private equity REITs.

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