Sittema was hired in August to take on the position at CNL, aprivately held REIT and development company, effective Oct. 26. Hereports directly to Jim Seneff, chairman and CEO of CNL, and isalso a member of its executive committee.
"I moved from being an agent for a client to becoming aprincipal," Sittema tells GlobeSt.com. He says the transition toCNL was made easier by learning about the company from theoutside.
An MBA graduate from Indiana University, Sittema was the leadbanker and advisor on three market-peak transactions totaling $15billion in 2006 and 2007. This includes the $5.2-billion sale ofCNL Retirement Properties to Health Care Property Investors Inc.,the $3-billion sale of Trustreet to GE Capital Solutions and the$6.6-billion sale of CNL Hotels & Resorts to Morgan StanleyReal Estate.
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