Piedmont Office Realty Trust Expands Board with Appointment of Mary Hager

Rhea-AI Summary

Piedmont Office Realty Trust (NYSE:PDM) announced the appointment of Mary Hager to its Board of Directors, expanding the board to nine members. Hager, Executive Director at Greystar, co-leads the Greystar-Thackeray business and has extensive experience in commercial real estate. Prior to Greystar, she co-founded Thackeray Partners and held various roles at Trammell Crow Company. Piedmont focuses on high-quality Class A office properties, managing approximately $5 billion in assets across 17 million square feet primarily in the Sunbelt region.

Positive

• Mary Hager brings extensive real estate expertise and leadership experience, potentially enhancing the board's strategic direction.
• The board expansion may lead to fresh perspectives and innovative ideas in property management and investment strategies.

Negative

• Concerns may arise regarding continuity and experience gaps due to the change in board composition.

Atlanta, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. (NYSE:PDM) announced today the appointment of Mary Hager, Executive Director at global real estate investment management firm, Greystar, to its Board of Directors. With Hager’s appointment, Piedmont’s board of directors now consists of nine total members.

At Greystar, Ms. Hager co-leads the Greystar-Thackeray business as well as Greystar’s commercial real estate businesses and serves on the Greystar Global Investment Committee and Greystar Executive Committee.

Prior to joining Greystar in 2021, Ms. Hager was the Co-CEO and co-founder of Thackeray Partners, a diversified private real estate company based in Dallas, TX. Since its inception in 2005, Thackeray Partners sponsored five private equity funds where Ms. Hager was responsible for overall strategy, partner communications, deal sourcing, asset management, and fund administration. Prior to founding Thackeray Partners, Ms. Hager was with Trammell Crow Company and other Crow-affiliated entities for sixteen years working in a variety of roles.

Ms. Hager is a member of the Urban Land Institute, where she currently serves on the Board and is Chairman of the Investment Committee for the ULI Foundation. She is also a past Americas Global Governing Trustee and a past Chair of a national small-scale development product council.

About Piedmont:

Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in the Sunbelt. Its approximately $5 billion portfolio is currently comprised of approximately 17 million square feet. The Company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody’s (Baa2). Piedmont is a 2022 ENERGY STAR Partner of the Year. For more information, see www.piedmontreit.com.

Contact:       Eddie Guilbert        

Company:     Piedmont Office Realty Trust

Phone:         770 418 8800

Email:          Investor.relations@Piedmontreit.com

FAQ

Who is Mary Hager and what is her role at Piedmont Office Realty Trust?

Mary Hager is the new board member of Piedmont Office Realty Trust, bringing significant experience from her role at Greystar and previously at Thackeray Partners.

What are the qualifications of Mary Hager for the Board of Directors at PDM?

Mary Hager has extensive experience in commercial real estate, having co-led Greystar's business and co-founded Thackeray Partners, along with a history of leadership roles in Trammell Crow Company.

How many members are on the Piedmont Board of Directors after the latest appointment?

After Mary Hager's appointment, the Piedmont Board of Directors now consists of nine members.

What is Piedmont Office Realty Trust's focus in terms of property management?

Piedmont Office Realty Trust primarily focuses on owning and managing high-quality Class A office properties, especially in the Sunbelt region.