BRE Properties (BRE), a leading real estate investment trust (REIT), has recently appointed Stephanie T. Andre as Vice President, Treasurer with immediate effect. The appointment is recognition of the increasing significance of the treasury function in the company, particularly in areas such as capital financing and financial risk management.
Andre would be responsible for maintaining optimal liquidity along with budgeting and long-term forecasting. In its capacity as a treasurer, Andre would also develop capital strategies to control cost of capital and financial risk. In addition, she would manage external credit and capital relationships, and other operational strategies of the department.
Andre had earlier served Bank of America Merrill Lynch for the past eight years as Vice President and Principal, Real Estate Investment Banking division. During her tenure, she had completed over $5 billion worth of deals relating to mergers and acquisitions as well as debt and equity transactions. BRE Properties intends to utilize Andre’s experience in real estate investment banking to instill a fresh perspective and dynamism to the company.
BRE Properties develops, acquires, and manages apartment communities primarily in the Western U.S., where it currently operates in three states: California, Washington, and Arizona. As of Jun 30, 2009, the company directly owned and operated 74 communities totaling 21,485 units, and had another 1,526 units in various stages of development. BRE Properties also has an interest in 13 joint venture communities totaling 4,080 units.
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