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NEWS RELEASE
Pine Tree Commercial Realty Forms New Division & Names New President
LAKE BLUFF, Ill. (May 15, 2006) –
Barry Herring and Peter
Borzak, founding partners of Pine
Tree Commercial Realty, LLC of Lake Bluff, Ill., announced the formation of Pine Tree Institutional, LLC, a new division of the company that will deal solely with acquisition, ownership and disposition of real estate assets. The partners also announced that Tim Roe has been promoted to President of Pine Tree Commercial Realty, LLC.
Although Pine Tree Commercial Realty has been involved in the acquisition and development of more than 50 properties over the past 11 years, the company is separating under two different umbrellas in order to position itself more accurately with its respective clientele. As of September 1, 2006, Pine Tree Commercial Realty will focus on development services, leasing, property management, and construction management, while Pine Tree Institutional will acquire, own and sell real estate assets.
Tim Roe will advance from Executive Vice President of Pine Tree Commercial Realty, a position he has held for the past 11 years, to President of the division. According to Herring, “Tim is a natural choice to preside over Pine Tree Commercial. His is the most important voice in the company when it comes to retail services, and he’s highly experienced in all areas of retail real estate. His understanding of the retail business is second to none.”
Roe began his immersion in retail real estate at Charming Shoppes, Inc., (the parent company of Fashion Bug, Lane Bryant and Catherines Plus Sizes), followed by Melville Corporation (former parent company of Linens ‘N Things, Kay Bee Toys, Toy Works, Wilsons Leather and Foot Action). At these two companies he was extensively involved in site acquisition, lease negotiation and asset development. He is a graduate of the University of Kansas.
Pine Tree Commercial Realty, LLC is a full-service real estate development company headquartered in Lake Bluff, Ill., with branch offices in Indianapolis, Minneapolis, and Kansas City. The company is actively involved in the development, leasing, management and construction of retail properties throughout the United States. Pine Tree Institutional, an affiliate of Pine Tree Commercial Realty, is involved in the acquisition, ownership and disposition of real estate assets.
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