ATLANTA--(BUSINESS WIRE)--Columbia Property Trust, Inc. (NYSE: CXP) announced today that it has elected Constance B. Moore as a member of the Board of Directors effective November 10, 2017, which will bring the Board’s membership to 11 directors, ten of whom are independent.
Ms. Moore has more than 40 years of experience in the real estate industry. She served as president and chief executive officer of BRE Properties, Inc., a former public REIT, from 2005 until the completion of its merger with Essex Property Trust in 2014, and served as a member of BRE’s board of directors from 2002 until 2014. Previously, she was the managing director of Security Capital Group & Affiliates, where, from 1993 to 2002, she held several executive positions, including co-chairman and chief operating officer of Archstone Communities Trust, also a public REIT. She held the same position at Security Capital Atlantic, Inc., a predecessor of Archstone, playing an instrumental role in its initial public offering. During her tenure at Security Capital Group, she served on the boards of directors of both public and private companies owned or controlled by that organization.
Ms. Moore was the 2009 chair of the National Association of Real Estate Investment Trusts and is the current chair of the San Jose State University Tower Foundation and of the Policy Advisory Board for the Fisher Center for Real Estate & Urban Economics at UC Berkeley, as well as a member of the board of directors of the Haas School of Business at UC Berkeley. Ms. Moore is also a trustee and governor of the Urban Land Institute and a member of the ULI Foundation and Global Boards, and is a member of the board of directors of Bridge Housing Corporation and a member of the International Women’s Forum of Northern California.
Ms. Moore currently serves on the board of directors for two public real estate companies, including Civeo Corporation, where she is the chair of its audit committee and a member of its compensation committee, and Tri Pointe Group, where she is the chair of its compensation committee and a member of its audit committee.
“With her depth of experience, Connie Moore is an ideal addition to further enhance the leadership of our board,” said Nelson Mills, president and CEO of Columbia Property Trust. “Not only has she served as CEO and director of other successful public companies, she has a long history of leadership in key real estate industry organizations, primarily in one of our top two markets, San Francisco. We look forward to her contributions to Columbia as we continue to serve our investors.”
About Columbia Property Trust
Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings concentrated in high-barrier-to-entry, gateway markets. Its portfolio includes 19 operating properties containing over nine million square feet, primarily located in New York, San Francisco, and Washington, D.C. Columbia carries an investment-grade rating from both Moody’s and Standard & Poor’s. For more information, please visit www.columbia.reit.
Certain statements contained in this press release other than historical facts may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such statements include, in particular, statements about our share repurchase program and are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We make no representations or warranties (express or implied) about the accuracy of any such forward-looking statements contained in this press release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Any such forward-looking statements are subject to risks, uncertainties, and other factors and are based on a number of assumptions involving judgments with respect to, among other things, future economic, competitive, and market conditions, all of which are difficult or impossible to predict accurately. To the extent that our assumptions differ from actual conditions, our ability to accurately anticipate results expressed in such forward-looking statements, including our ability to generate positive cash flow from operations, make distributions to stockholders, and maintain the value of our real estate properties, may be significantly hindered. See Item 1A in the Company’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2016, for a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements. The risk factors described in our Annual Report are not the only ones we face, but do represent those risks and uncertainties that we believe are material to us. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also harm our business.