SANTA MONICA, Calif.--(BUSINESS WIRE)--Scott Watt and the Board of Watt Companies, one of the largest owners, developers, and managers of commercial real estate in the Western United States, have appointed Nadine Watt to the role of CEO. After serving as CEO for a decade, Scott Watt has handed the reins to his daughter, who will oversee a billion-dollar portfolio of residential, office, and retail properties.
The appointment became effective January 1, following approval from the Watt Board of Directors. Nadine Watt has served as President of Watt Companies since 2011.
“After 20 years with the firm, Nadine is much deserving of this promotion and ready to lead the company,” said Scott Watt. “Watt Companies has benefited tremendously from Nadine’s leadership as President for the last nine years as our company has focused on acquisitions, development, and joint venture opportunities. We are confident that Nadine will do an excellent job carrying out the vision of my father and her grandfather, Ray Watt.”
During her tenure as President, Nadine played a key role in launching Watt Companies’ acquisition division – Watt Investment Partners – which has invested $60 million in a variety of property types across the Western United States.
“Over her years at the firm, Nadine has been involved in nearly every facet of our operations, and her appointment sets the stage for continued success,” said Brian Jones, Board Member of Watt Companies. “Nadine’s ascension to CEO is not only significant for our company, it also distinguishes her as one of the few women to lead a major commercial real estate firm. We believe that Nadine’s bold vision will take Watt Companies to new heights.”
Based in Santa Monica, Watt is a diversified real estate company, offering home-building, commercial development, asset management and the sponsorship of capital investments. Watt’s portfolio spans seven states and includes more than eight million square feet of office and industrial space, 16,000 multifamily units, 100,000 family homes, six master-planned communities, three first-class hotels and 50 shopping centers.
Nadine is a member of the University of Southern California Board of Governors and the Sol Price School of Public Policy Board of Councilors and serves on the Executive Committee of the Lusk Center for Real Estate as well as the USC Associates Board of Directors. She was the first woman to be named Chair of the Los Angeles Business Council, a position she still holds. She is a Board Member of Visionary Women and the City of Hope Los Angeles Real Estate & Construction Industries Council.
“I am grateful to my father and the Board for their confidence in me and thrilled to step into the role of CEO,” Nadine said. “Moving forward, Watt will continue its legacy of world-class real estate services while at the same time remaining nimble and evolving with the market.”
About Watt Companies
Watt Companies offers comprehensive and diversified real estate services across the United States to investors and partners, homebuyers and commercial customers. Watt Companies operates through five core business units: Watt Properties, Watt Communities, Watt Funding, Watt Investment Partners, and Watt Multifamily.