InvenTrust EVP of Portfolio Management to Resign
InvenTrust Properties, a publicly registered non-traded real estate investment trust, announced that David Collins, executive vice president of portfolio management resigned from his position, effective December 31st.
According to a filing with the Securities and Exchange Commission, Collins will continue in his current role until the separation date and will then consult for the company for a period of six months until June 30, 2018 for an average of 10 hours per week.
The consulting services include sourcing the acquisition of retail properties, assisting in negotiations with major real estate tenants, advising the company regarding financial performance, participating in the mentoring of the executive team and such other services as may be requested by the chief executive officer or chief financial officer.
InvenTrust Properties, formerly known as Inland American Real Estate Trust, focuses on acquiring open-air retail centers in growth markets. The offering was declared effective in August 2005 and closed in April 2009 after raising $8.6 billion, according to Summit Investment Research. The company, which became a self-managed REIT in 2014, owns and manages 85 retail properties, representing 15.2 million square feet of retail space, and one non-core property.