KBS Promotes Marc DeLuca to CEO and Makes Key Advances to Usher in Next Phase of Growth | Business
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–January 27, 2022–
KBS, one of the nation’s largest commercial real estate investors, has announced several management promotions to usher in the company’s next phase of growth. The company, founded in 1992 by Chuck Schreiber, Peter Bren and Don Koll, has appointed a new CEO, CFO and VP/asset manager and set up an executive committee as it reaches a milestone in 2022. important from 30 years of activity.
Marc DeLuca, who has been with KBS for eight years and serves as the company’s Eastern Regional President, has been promoted to Managing Director of KBS. DeLuca has taken over the strategic management of the company and will guide its direction and direction going forward.
“My new role as CEO of KBS is an opportunity to take a very successful 30-year-old company whose management enjoys an excellent reputation and to build on the solid foundations that its founders Chuck Schreiber, Peter Bren and Don Koll created,” says DeLuca. “This opens a new chapter that allows us to grow with new products and vehicles. I look forward to bringing my 28 years of experience in this industry to the fore and continuing the legacy that our founders established.
In his new position as CEO, DeLuca will direct business activities and oversee all operations of KBS, including the acquisition and management of individual investments and portfolios of income-generating real estate assets. Additionally, he will continue in his role as Eastern Regional President, responsible for all acquisitions, divestitures and asset management activities for the business in the Eastern United States. Additionally, DeLuca will continue to chair the KBS Investment Committee which reviews and approves all new investments by the company.
“Marc is highly respected in our industry and has decades of proven leadership and business experience,” says Schreiber. “He emulates the high levels of professionalism and business expertise that will complement his success as the new CEO.”
Schreiber, who served as CEO for 23 years, has taken on a new role for the company as Chairman and President of KBS and will remain an active member of the company’s management team. Schreiber will use his new role to focus on the strategic vision and future of KBS.
Additionally, KBS promoted Jeff Waldvogel to KBS Chief Financial Officer, a newly created position. Waldvogel has been with the company for 11 years and has over 19 years of financial and accounting experience in the real estate industry. In his new role as Chief Financial Officer, Waldvogel is responsible for the financial management, accounting and reporting of KBS’s public and institutional investment funds and is a member of the KBS Investment Committee.
“Jeff’s financial skills and business strategy are well respected by our industry, the KBS Board of Directors and among his professional peers,” DeLuca said. “We are delighted to elevate his role to that of KBS’ first-ever Chief Financial Officer.”
“KBS has a strong promotional culture within the company,” says Waldvogel. “In my new role, I am thrilled to be able to continue to grow with a company that is so highly respected and truly values the contributions of its team members.”
Additionally, KBS has promoted Luke Hamagiwa to Vice President/Asset Manager Eastern Region. In his new role, Hamagiwa will be the market leader responsible for achieving investment objectives throughout the Mid-Atlantic and Northeast United States on behalf of KBS REIT, pension funds and clients of sovereign wealth funds. Within these markets, Hamagiwa is responsible for executing strategic business plans for each of its portfolio assets as well as new acquisition opportunities and joint venture partnerships.
“Luke joined us as an analyst/partner and has grown tremendously over the past six years,” says DeLuca. “It’s quite a feat for a young professional like Luke to take on a leadership position that involves managing much of the country for KBS, and it reflects the company’s organic promotion structure.”
Since joining KBS in 2016, Hamagiwa has led the acquisition and disposition of over 2.1 million square feet of assets with a transaction value of over $421 million. He also oversaw the Midwest portfolio for KBS encompassing 3.7 million square feet across seven assets. Hamagiwa currently oversees a portfolio of eight Class A properties in the District of Columbia, Maryland, Virginia (DMV) and Philadelphia markets totaling over 1.6 million square feet.
“KBS gave me the opportunity to take on increasingly demanding responsibilities,” says Hamagiwa. “I look forward to continuing to move forward with a company that continually seeks innovative ways to succeed and believes in its people.”
As these leadership changes take place, KBS celebrates its 30th anniversary in business in 2022. Over the past thirty years, KBS has completed more than $44 billion in transactions and acquired and managed a portfolio of top-quality properties. located in some of the fastest growing. markets in the country, according to DeLuca.
“Since the day KBS was founded 30 years ago, its management has challenged its employees and colleagues to maintain the highest ethical standards, both at work and in their personal lives. Our reputation is built on rigorous values and commitment to those standards – standards that we will not allow to be changed,” says DeLuca. “We will continue to focus on upholding the high standards our culture is known for.”
DeLuca also recognizes the members of the KBS team whose contributions over the past 22 months have continued to enable the company to grow.
“The talented people in our organization have positioned KBS to achieve exponential growth in an unprecedented way,” says DeLuca. “Despite the challenges all businesses have faced due to the pandemic, we have succeeded and continued to grow. These are exciting times for KBS as the commercial real estate industry enters an era of new opportunities.
Celebrating 30 years in business this year, KBS is one of the largest investors in prime commercial real estate in the country. As an SEC-registered real estate private equity firm and investment adviser, KBS and its affiliates have achieved more than $44 billion in transactional activity on behalf of private and institutional investors worldwide. Founded in 1992 by Peter Bren and Chuck Schreiber, KBS acquires and operates prime commercial real estate in some of the nation’s most affluent epicentres. The company is committed to its business ethics, its business relationships and its constant concern to exceed the expectations of its investors, partners and tenants. Registration with the SEC as an investment adviser does not imply any particular level of skill or training. For more information about KBS, visit www.kbs.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS’s ability to invest and manage a diversified portfolio and the performance of the real estate market. These statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of KBS to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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PUBLISHED: 01/27/2022 16:45 / DISK: 01/27/2022 16:47