|Lodging industry veteran brings commercial real estate and finance experience to nationwide industrial REIT
INDIANAPOLIS, Aug. 07, 2017 (GLOBE NEWSWIRE) -- Duke Realty Corporation (NYSE:DRE), a leading industrial property REIT (Real Estate Investment Trust), announces that Norman K. Jenkins, President, Chief Executive Officer and Managing Partner of Capstone Development, LLC, has been named to its Board of Directors. Capstone is a privately held owner and developer of institutional-quality lodging assets that currently owns 26 hotels in 11 states and the District of Columbia with a value in excess of $1.4 billion.
“On behalf of the Board of Directors of Duke Realty, we are extremely happy that Norm Jenkins has joined our board,” said William Cavanaugh, Lead Director and former Chairman and Chief Executive Officer of Progress Energy. “After a marvelous career at Marriott International, Norm started Capstone Development where he and his team raised significant capital resulting in 26 hotels with assets in excess of $1.4 billion.”
“Duke Realty is pleased to have Norm join our Board of Directors and believe that he will provide invaluable guidance on our company’s strategic direction going forward,” said James B. Connor, Chairman and Chief Executive Officer of Duke Realty. “Norm’s background in commercial real estate, finance, acquisitions and development lends itself well to our business and will give us new perspectives as we continue to build and strengthen our company.”
Prior to founding Capstone Development in 2009, Mr. Jenkins was with Marriott International for 16 years, serving in various leadership positions before being named Senior Vice President of North American Lodging Development. His experience also includes five years with McDonald’s Corporation holding finance and operating positions. While with Marriott, Mr. Jenkins was the architect of the company’s industry-leading Diversity Ownership Initiative, which doubled the number of diverse-owned Marriott hotels over a three-year period and resulted in a diverse-owned company becoming Marriott’s second largest franchisee.
“I am delighted to join the Board of Directors of Duke Realty and work with its other directors and management team members to continue the success this company has had over the past 45 years,” said Jenkins. “Duke Realty is one of the nation’s largest and best managed industrial REITs, and I look forward to being part of its continued growth.”
Mr. Jenkins serves on the Board of Trustees of Howard University and the Suburban Hospital Board of Trustees. He also is a frequent industry conference speaker.
About Duke Realty
Duke Realty Corporation owns and operates approximately 138 million rentable square feet of industrial assets in 21 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.
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Duke Realty Corporation