HARTFORD, Conn., Jan. 27, 2014 /PRNewswire/ -- Cornerstone Real Estate Advisers, one of the largest global real estate investment managers with over $42 billion in real estate assets under management, today announced Scott D. Brown has been appointed President of the firm.
Mr. Brown, 50, will join Cornerstone on February 3, taking over the role of President from David J. Reilly, who remains Cornerstone's Chief Executive Officer.
"After careful consideration and an extensive succession planning process, Cornerstone is delighted to have attracted a candidate of the caliber and experience of Scott to help us continue our growth, both domestically and globally," said Mr. Reilly. "Scott has a sterling reputation in the industry and I personally look forward to working closely with him as Cornerstone enters its next phase of growth."
Mr. Brown brings more than 26 years of experience in the real estate industry, having led large teams and businesses through the investment decision making process. He has been involved in dozens of major domestic and global transactions, including joint ventures, co-investments, clubs, preferred equity, performing and non-performing debt, securitizations, REITs, secondary and primary funds, and direct property investments.
Mr. Brown joins Cornerstone from CBRE Global Multi Manager (GMM) where he was the Head of the Americas. He was a member of the Investment Committee, of the CBRE GMM Board of Directors, and of the CBRE Global Investors Americas Operating Board. He was also an Advisory Board member for a large number of investment vehicles in the U.S., Mexico and Brazil.
"I greatly admire what Dave and the rest of the Cornerstone team have been able to accomplish in recent years, positioning Cornerstone as one of the pre-eminent global real estate investment managers," Mr. Brown said. "I am thrilled to be joining Cornerstone at such an exciting time."
Mr. Brown was formerly Head of Global Real Estate at Ennis Knupp + Associates (now Hewitt EnnisKnupp, an Aon Company) where he established the global real estate practice and Chaired the Global Investment Committee. Mr. Brown also previously held the positions of Senior Department Head of The PrivateEdge Group at State Street Corporation, and Consulting Manager at Kenneth Leventhal & Co.
Mr. Brown's industry affiliations include: Past Chair of the Performance Measurement Committee of the National Council of Real Estate Investment Fiduciaries (NCREIF), and a founding member of NCREIF's REIS Council. Mr. Brown was also a member of the Research Committee at the Pension Real Estate Association (PREA) for a number of years, and until recently Chaired the CFA Institute's - GIPS Real Estate Sub-committee. He was also a member of the GIPS Private Equity Sub-committee.
Mr. Brown holds a Master of Science in Real Estate Development from Columbia University, and a Bachelor of Arts in Economics from the University of Massachusetts. He is also a CFA charterholder.
About Cornerstone Real Estate Advisers LLC
Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK, Europe, and Asia, is one of the largest global real estate investment managers. It provides core and value‐added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. More information is at www.cornerstoneadvisers.com.
SOURCE Cornerstone Real Estate Advisers LLC