DENVER--(BUSINESS WIRE)--Broe Real Estate Group, a leading investor and manager of commercial real estate across the US, today announced that Douglas Wells is joining the company as CEO, effective immediately. In his new role, Wells leads all operational, investment and capital market activities for Broe Real Estate Group and its affiliates.
“Doug is a great find for Broe Real Estate Group, and The Broe Group. Along with the leaders of our transportation and oil and gas business units, he is indicative of the caliber of people we've added over the last few years to strengthen our management capability and implement best practices across the value creation chain,” said Claude Pumilia, Chief Operating Officer for The Broe Group.
“Doug has a critical mix of financial expertise and operating experience. Given his exceptional performance in his previous executive roles, we expect Broe Real Estate Group to experience significant growth under his leadership.”
Wells was previously Chief Investment Officer of Shelter Canadian Properties Limited, a real estate investment management company. Before that, he spent 15 years with Lazard Real Estate Partners, most recently as Managing Principal with investment management responsibility for five real estate opportunity funds, which at its peak totaled more than $3 billion of committed partner capital invested in the hospitality, office, industrial, retail, senior living and structured finance sectors. As part of his role at Lazard, Wells also served as President of InTown Suites, Inc., an Atlanta based extended-stay hotel company with 127 locations. He was previously with The Mutual Life Insurance Company of New York/ARES Realty Capital, and started his real estate career with Shelter Corporation of Canada Limited.
Wells received his B.A. from Trent University in Peterborough, ON and his M.B.A. from University of Denver.
“Broe Real Estate Group has an impressive real estate investment management platform with a track record of superior returns across all major property sectors through many investment cycles. I’m looking forward to the challenge of helping to take an already successful real estate investment management firm to the next level,” said Wells.
About Broe Real Estate Group
Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. For more than 40 years, the company has operated a comprehensive real estate platform to provide complete solutions to maximize return on investment. Additional information is available at www.broerealestate.com.
About The Broe Group
The Broe Group and its affiliates, based in Denver, Colorado, employ more than 1,000 people and own and/or manage commercial real estate throughout North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations throughout North America, including the Great Western Railway. Its energy affiliate, Great Western Oil & Gas Company, is a top 100 driller in the U.S. For more information, see www.broe.com.