David Stockert, Former CEO of Post Properties, Joins Duke Realty Board of Directors
October 30 2017 - 3:10PM
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 RealtyDuke 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.
Contact Information:
Investors:Ron Hubbard317.808.6060
Media:Helen McCarthy317.708.8010
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