San Diego-headquartered Excel Trust has appointed Luke J. Petherbridge as chief executive officer and president.
A statement from Excel Trust, which was purchased last year by an affiliate of Blackstone Group, said Petherbridge will be leaving his current post as chief financial officer and treasurer of Ohio-based DDR Corp., another real estate investment trust.
At DDR Corp., Petherbridge has overseen $5 billion in real estate transactions and raised more than $9 billion in long-term capital, supporting various strategic initiatives.
Based in Rancho Bernardo, Excel Trust was purchased in 2015 by a Blackstone affiliate, in a deal valued at $2 billion. The REIT oversees a portfolio of 80 retail properties totaling 19 million square feet, including shopping centers in California, Texas, New York and Florida.
