|Multifamily housing executive brings commercial real estate and finance experience to nationwide industrial REIT.
INDIANAPOLIS, Oct. 30, 2017 (GLOBE NEWSWIRE) -- Duke Realty Corporation (NYSE:DRE), the leading U.S. domestic-focused industrial property REIT (Real Estate Investment Trust), announces that David P. Stockert, has been named to its Board of Directors. Mr. Stockert is a director of Mid-America Apartment Communities (NYSE:MAA), a REIT that owns and operates more than 100,000 apartment units in the Southeast and Southwest regions of the United States. Mr. Stockert previously was Chief Executive Officer, President and Director of Post Properties, another multifamily housing REIT that was acquired by Mid-America Apartment Communities in 2016.
“On behalf of the Board of Directors of Duke Realty, we are extremely happy that David Stockert has joined our board,” said William Cavanaugh, Lead Director and former Chairman and Chief Executive Officer of Progress Energy. “After a 15-year career with Post Properties where, under David’s leadership, the company grew to more than 24,000 apartment units and a total market cap of $4.5 billion, David successfully negotiated and executed its 2016 merger with Mid-America Apartment Communities.”
“Duke Realty is pleased to have David join our Board of Directors and believes that his guidance on our company’s strategic direction will prove invaluable,” said James B. Connor, Chairman and Chief Executive Officer of Duke Realty. “David’s background in commercial real estate, finance, acquisitions and dispositions 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 joining Post Properties, David was Executive Vice President and Chief Financial Officer for four years with Weeks Corporation, an industrial and office REIT with properties throughout the southeastern United States. While CFO, David financed the growth of the company from a market cap of $300 million to $1.7 billion and was heavily involved in the company’s 1999 merger with Duke Realty. Following the merger, David served as Executive Vice President of Acquisitions and Dispositions. His background also includes more than 10 years as an investment banker and as a CPA.
“I am delighted to join the Board of Directors of Duke Realty and work with its other directors and management team to continue the success this company has had over the past 45 years,” said Stockert. “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. Stockert has his Master of Business Administration from Columbia University and his Bachelor of Science in Accounting from the University of Colorado.
Mr. Stockert is active in the Atlanta community and serves in leadership roles on the boards of several non-profits and civic organizations.
About Duke Realty
Duke Realty Corporation owns and operates approximately 144 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.
Duke Realty Corporation