J.P. Morgan said Chad Tredway, who worked at the company for more than 13 years before leaving to start his own firm, returned as incoming head of real estate Americas for J.P. Morgan Asset Management. Tredway will succeed Mike Kelly, the current head of the real estate Americas group. J.P. Morgan said this year that Kelly would retire after 30 years in the industry. Tredway previously worked at J.P. Morgan from 2008 to 2021 and served as head of real estate banking at J.P. Morgan Commercial Bank. In that role, he oversaw more than $20 billion in real estate loans and led a national team of 250 professionals across risk, coverage and operations.

J.P. Morgan also said it will assume management of Trio Investment Group, the institutional sale-leaseback property investment firm founded by Tredway two years ago. Tredway will begin by integrating Trio, which has $250 million in assets under management, into J.P. Morgan's real estate Americas group. The company said Tredway plans to expand its portfolio team. J.P. Morgan Asset Management CEO George Gatch said in a statement that Tredway's experience and previous tenure at the firm make him the right choice to lead its Americas real estate division "as markets approach an inflection point, a time of great opportunity." The Americas real estate group is the U.S. real property and assets investment platform of J.P. Morgan Global Alternatives. As of Sept. 30, it had $74 billion in equity and debt assets under management and more than 240 professionals on its team.

Easterly Government Properties, a real estate investment trust focused primarily on buying, developing and managing Class A commercial properties leased to the U.S. government, has appointed the REIT's co-founder and chairman, Darrell Crate, as CEO effective Jan. 1. He will succeed William Trimble III, who Easterly said will retire as president and CEO on Dec. 31. In connection with these moves, Easterly said its board appointed Chief Financial Officer and Chief Operating Officer Meghan Baivier to succeed Trimble as president and continue as COO. Allison Marino, Easterly’s chief accounting officer, will assume the roles of CFO and CAO, the REIT said. William Binnie, Easterly's lead independent director. has been appointed chairman effective Jan, 1.

Crate and Trimble founded Easterly in 2015. The REIT said it has worked closely with the General Services Administration and the Veterans Administration "to meet the needs and objectives of each tenant agency" including the FBI and the Drug Enforcement Administration. “Bill has been a valuable partner for over a decade,” said Crate. “From the early days of establishing a private equity fund through taking our portfolio public and acquiring over 8 million square feet of real estate, Bill has been a trusted collaborator,” Crate said in a statement.

Brokerage NAI Hiffman and Hiffman National, the firm's management services division, said they elevated current President John Heiberger to the additional role of CEO effective Jan. 1. Heiberger’s appointment will coincide with the launch of the national advisory services group that will include an expanded lender services business to take advantage of rapidly changing market conditions. Advisory Services will be housed within Hiffman National. Hiffman said current CEO Dave Petersen will transition to chairman, while Dennis Hiffman, the 50-year industry veteran who founded Hiffman in 1981, will become chairman emeritus. The executive succession and group launch have been planned for more than two years.

Hiffman is "not running from but running toward 2024 with great optimism" as other brokerages retrench because of the challenging commercial real estate market, Petersen said. “Our investor clients are not looking for firms that are pulling back, laying off valued talent or pausing growth initiatives to wait out the market,” he said in a statement. “They are telling us they want to work with firms that can lean into these market shifts." Hiffman said its new advisory services business will enable it to fortify the services it offers to existing and future clients. "Since before the Great Financial Crisis, Hiffman has been working with lenders in need of receivership, investment sales, note sales, leasing and management services,” Heiberger said in a statement. He joined the firm as president in January.

Bob Assoian, head of Hiffman National, has been named executive managing director and head of the new advisory services division. In addition, Hiffman promoted Carrie Szarzynski to senior managing director and head of management services, and Sarah Cannella to managing director, and head of strategy and development, a new department. Current Chief Operating Officer Michael Flynn will maintain his role within the company. In October, Hiffman hired Ann Wallin as chief financial officer.

International property owner and developer Grosvenor said Michael Beattie, its long-time chief investment officer, will retire at year end and that his responsibilities will be split between Angela Biggs and Mark Purdy. As part of the transition, Biggs and Purdy will be promoted to managing director, Grosvenor said. Starting in January, Biggs will be managing director of investment and lead the company’s acquisitions and dispositions, Grosvenor said. Purdy will become managing director of asset management and oversee all asset management activities across the North American portfolio and lead sustainability efforts in meeting the firm’s carbon reduction ambitions for the portfolio, the firm said. Both now serve as senior vice presidents of investment in Grosvenor's San Francisco office.

Biggs, who joined Grosvenor in 2019, has more than 15 years of real estate industry experience. She previously oversaw acquisitions and financial performance of property assets at Sares Regis Group, Vantage Data Center and Farallon Capital Management. Purdy joined Grosvenor’s Calgary office in 2008. He has held several positions across the firm’s US and Canadian operations including portfolio leasing, management and acquisition and dispositions of multiple property types. Purdy previously worked for CBRE.

Beattie, based in Vancouver, British Columbia, joined Grosvenor in 2000 after working for a private developer and Colliers International in Calgary, Alberta. Since 2011 he has overseen all investment property transactions and Grosvenor's investment portfolio across North America. Under his leadership, the investment team now has 3.7 billion Canadian dollars ($2.72 billion) of assets under management.

DePaul University in Chicago has tapped Reagan Pratt, an executive with more than 30 years of corporate and institutional commercial real estate experience, as the Douglas and Cynthia Crocker endowed director of The Real Estate Center at the school. As director, Pratt is responsible for building and expanding the center through outreach to the real estate community in Chicago and across the United States, DePaul said. Pratt also has joined the university's faculty at DePaul and will teach a variety of graduate and undergraduate real estate classes with an emphasis on finance, capital markets and investments.

Pratt has held numerous senior and executive level positions at investment firms including BentallGreenOak, Harrison Street Securities and its predecessor Transwestern Securities Management, Heitman Financial and Waypoint Residential. He most recently was an independent consultant. "I am looking forward to bringing my 30 years of relationships to the REC," Pratt said in a LinkedIn message. "We have a great base and lots of room for growth. I am honored to follow in the footsteps of my dear friend Susanne Cannon, founder of the REC." Tom Berry, chairman of DePaul's department of finance and real estate, said in a statement that Pratt's "level of experience, and connections to prominent, well-respected professionals in the industry will be a valuable asset to DePaul and The Center.”

Brookfield Properties’ logistics business appointed Randy Forth as senior vice president of asset management responsible for the oversight and performance of the company's logistics portfolio in Eastern North America. The portfolio contains more than 26 million square feet of space. Forth has more than 30 years of experience in the asset management, acquisition, disposition and portfolio management of properties in several sectors.

He most recently served as executive vice president and chief asset management officer of Preferred Apartment Communities, which Blackstone Real Estate Income Trust acquired for $5.8 billion in June 2022. The addition of Forth is a strategic hire that will help Brookfield Properties continue to expand, said Keith Edwards, a senior vice president and head of East Coast operations.

Love Communities, a real estate firm based in Malvern, Pennsylvania, has added Annemarie Hobson as regional property manager. In her new role, Hobson will be responsible for overseeing property operations including budget creation, business plan execution and asset management, Love Communities said. She also will work with Love Communities managing director Rachel Culling to expand its business in the mid-Atlantic region, the company said.

Hobson has 20 years of experience in the industry. She's worked at Home Properties, Bell Partners and Morgan Properties. Love Communities founder Mark Thomson said he got to know Hobson during his time as a broker. The company launched its property management division on Oct. 13, President Heather Pushinsky said.