OAK BROOK, Ill., July 23, 2015 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI) (the "Company") announced today that Heath R. Fear has accepted the Company's offer to serve as its new chief financial officer and treasurer, effective August 17, 2015. Mr. Fear will play a key role in the continued execution of the Company's portfolio and balance sheet strategy, in addition to oversight of all of the Company's financial activities, including capital markets, accounting, investor relations, internal audit, internal reporting and treasury.
"After an exhaustive search, we have selected a highly accomplished and seasoned real estate professional to be the next CFO of RPAI," stated Steven Grimes, president and chief executive officer. "Heath has an outstanding reputation within the financial community and he brings a broad set of skills to our company, including capital markets expertise and a deep understanding of public REIT operations. Heath is welcomed by our senior leadership team as a complementary fit and we look forward to leveraging his experience and industry relationships to achieve our long term goals. This key executive management hire coupled with the recently announced realignment of our operating platform reinforces RPAI's commitment toward creating long term value for our shareholders."
Mr. Fear has over 20 years of experience in the real estate industry and currently serves as senior vice president, head of capital markets of General Growth Properties, Inc. ("GGP") and as a member of GGP's capital and management committees. Mr. Fear is a key participant in establishing and executing on GGP's capital raising and allocation strategies and he has orchestrated over $32 billion of debt and equity transactions since assuming his capital markets responsibilities in 2010. Mr. Fear joined GGP in 2003 and prior to his current role held various senior roles within GGP's legal team. Prior to GGP, Mr. Fear served as counsel for Prime Group Realty Trust, and as an associate in the real estate practice groups of Kirkland & Ellis and Pedersen & Houpt.
Mr. Fear holds a Juris Doctor from the University of Illinois College of Law and a Bachelor of Arts degree in Political Science and English from John Carroll University.
Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States. As of March 31, 2015, the Company owned 212 retail operating properties representing 31.3 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.
Michael Fitzmaurice, VP - Finance
Retail Properties of America, Inc.
SOURCE Retail Properties of America, Inc.