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[IMGCAP(1)]NEWPORT BEACH, CA-CT Realty Corp. has brought on two new senior executives as part of a strategy in which the firm plans to raise up to $400 million of institutional capital over the next year to acquire institutional-quality distressed real estate. According to CT Realty president Robert Campbell, James Watson and Carter Ewing have joined the Newport Beach-based firm as senior-level strategists for the company in order to execute the new strategy.

[IMGCAP(2)]Watson will become the new president and CEO of CT Realty, while Campbell takes on the role of chairman, maintaining active day-to-day involvement with the company. Chairman U.T. (Tom) Thompson will become chairman emeritus of the 15-year-old company, and Ewing will serve as EVP of strategic acquisitions. CT Realty’s current senior management, Marc Belluomini and Larry Mathena, will remain in their respective roles as COO and CFO/chief counsel. The rest of CT Realty’s staff remains unchanged and is anticipated to increase as the company “positions itself for aggressive growth,” Campbell says.

[IMGCAP(3)]Watson is also the CEO of Aliso Viejo-based TechSpace and will remain in that position along with his duties at CT as the two companies become more strategically aligned, according to Campbell. TechSpace offers extended asset/property management services and integrated IT solutions for its 500 client companies with multiple operations inCalifornia and New York. Watson, a longtime commercial real estate executiveand investor with CT Realty over the years, previously served as president of Koll Development Co., which he joined after merging Santa Anita Development Co. and its operations into Koll in 1990. As a result of CT’s expanded involvement with TechSpace, CT will relocate from its Newport Beach offices to the TechSpace offices inAliso Viejo.

Ewing, a 20-year real estate development veteran, was most recently president and co-founder of Arnel Capital Investments (ACI), a division of Southern California-based Arnel & Affiliates. He was responsible or targeting and executing ACI’s investment strategy of acquiring distressed properties through acquisition of debt or direct property investment. Before ACI, Ewing was the managing regional partner for Koll Development Co. in Denver. He also founded and owns Ewing Development Co. Inc.

Campbell points out that CT Realty has been developing plans to have senior-level strategic talent join firm for several years now. “We believe we are entering a real estate period that is unprecedented in terms of activity,” he says.

With the addition of Watson and Ewing, CT Realty plans to align itself with sources of institutional capital with the goal of raising $300 million to $400 million over the next year. The company plans to continue to invest in industrial, office and multifamily properties as well as distressed debt in the same product categories, consistent with CT Realty’s investment history.

CT also will continue its 10-year strategy of investing private capital through its series of four CT Self Storage Funds and six CT California Funds (commercial properties) along with institutional co-investment. Campbell says that CT Realty has capital in its CT California Fund VI remaining to be placed and will be launching its CT California Fund VII next month with the goal of raising $100 million in private capital. CT California Fund VII will invest in office, industrial, multifamily and any form of debt related to those product types, with the bulk of the investments located in Southern California.

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