SANTA MONICA, Calif.--(BUSINESS WIRE)--In one of her first acts as CEO of Watt Companies, a leading commercial and residential real estate development and investment company, Nadine Watt has appointed 30-year industry veteran John Devereux as President. The appointment signals Watt’s plans to expand its strategic initiatives in the areas of commercial and residential real estate acquisitions, development, and joint venture opportunities.
In his role, Devereux will join the executive team in overseeing strategy and execution for all activities of the Company, with a particular focus on financial matters and long-term growth initiatives. The appointment is effective February 3, 2020.
Devereux will report to Nadine Watt, Chief Executive Officer. Nadine was appointed CEO effective January 1, 2020, after serving as President of Watt Companies for nine years.
“John shares our passion for real estate and our core value of remaining nimble and evolving with the market,” said Nadine Watt. “His financial expertise and track record of driving results will be an enormous value-add to our team. We look forward to working closely together to continue to grow our portfolio of residential and commercial assets.”
Throughout his three-decade career, Devereux has focused on real estate equity and debt. He brings to Watt vast operational experience and a history of building fast-growing businesses. Previously, Devereux held executive positions at OneWest Bank, Colony Capital, and real estate technology company PeerStreet.
“John brings significant leadership and capital market experience to Watt and we look forward to seeing the Company’s continued growth as a result of this hire,” said Deb Barbanel, Managing Director of Russell Reynolds and a member of Watt’s Advisory Board.
Devereux graduated from Stanford University with a mechanical engineering degree, Claremont McKenna College with an economics degree and UCLA’s Anderson School of Business with an MBA.
About Watt Companies
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, 2,400 multifamily units, 100,000 family homes, six master-planned communities and 50 shopping centers.