Board of Trustees
Board of Trustees
Acadia is also the manager of a series of discretionary institutional acquisition funds. Acadia recently launched Fund V which is capitalized to acquire $1.5 billion dollars of retail properties.
Mr. Bernstein served as Chief Operating Officer of RD Capital until its merger with Mark Centers Trust in 1998, creating Acadia Realty Trust. Prior to that, Mr. Bernstein was an associate with the New York law firm of Battle Fowler, LLP.
Mr. Bernstein received his BA from the University of Vermont and his JD from Boston University School of Law. Mr. Bernstein sits on the Board of Trustees of the International Council of Shopping Centers (ICSC) and served as the 2016/2017 Vice Chairman. In addition to being a member of the World President’s Organization (YPO-WPO), where he was the founding chairman of the Real Estate Network, he currently sits on the Board of Advisors. He is a member of the Board of Trustees of Golub Capital (NASDAQ:GBDC).
Lee S. Wielansky has been a Trustee of Acadia Realty Trust since May 2000 and the Lead Trustee since 2004. Mr. Wielansky has been Chairman and Chief Executive Officer of Midland Development Group, Inc., which focuses on the development of retail properties in the mid-west and southeast, since May 2003. For three years prior to that Mr. Wielansky served as Chief Executive Officer and President of JDN Development Company, Inc., and a Director of JDN Realty Corporation through its merger with Developers Diversified Realty Corporation in 2003. He was also a founding partner and Chief Executive Officer of Midland Development Group, Inc., for 15 years when the company sold its assets to Regency Centers Corporation. Mr. Wielansky is a Director of Pulaski Bank, a Director for Isle of Capri Casinos, Inc., and a Director of Brookdale Senior Living. He is also a member of the NACD.
Lorrence T. Kellar has been a Trustee of Acadia Realty Trust since November 2003 and is an "audit committee financial expert" as that term is defined by the U.S. Securities and Exchange Commission ("SEC"). Mr. Kellar was Vice President at Continental Properties, a retail and residential developer, for seven years, until his retirement, a Director of Spar Group, Inc., and the recently retired chairman of Multi-Color Corporation. Prior to joining Continental Properties, Mr. Kellar served as Vice President of Real Estate with Kmart Corporation for six years and served with The Kroger Co., the country's largest supermarket company, for 31 years where his final position was Group Vice President of Finance and Real Estate. Mr. Kellar is also a member of the NACD.
Douglas Crocker II has been a Trustee of Acadia Realty Trust since November 2003 and has been the managing partner of DC Partners LLC, since 2013. For 10 years, until his retirement, Mr. Crocker was the Chief Executive Officer of Equity Residential, a multi-family residential real estate investment trust ("REIT"), where he grew the Company from 21,000 apartments with a total market capitalization of $700 million to a $17 billion company with over 225,000 apartments. Previously, Mr. Crocker was Managing Director of Prudential Securities for 10 years, Chief Executive Officer of McKinley Finance Group, a privately held company involved with real estate, banking and corporate finance for 10 years, President of American Invesco, the nation's largest condominium conversion company, for three years and Vice President of Arlen Realty and Development Company for 10 years. Mr. Crocker is a member of the NACD, currently sits on the boards of real estate investment trusts Colony Northstar and Care Capital Properties and is a member of the National Multi-Housing Council. In addition, he serves as a Trustee of Milton Academy. Mr. Crocker has been a five-time recipient of Commercial Property News' Multifamily Executive of the Year Award, a three-time winner of their REIT Executive of the Year Award, a three-time winner of Realty Stock Review's Outstanding CEO Award, and received NAREIT's 2010 Edward H. Linde Industry Leadership Award.
Wendy Luscombe has been a Trustee of Acadia Realty Trust since May 2004. Since 1994 Ms. Luscombe has worked independently including being master advisor to the Prudential, PLC of the U.K. on its US real estate strategy, while asset managing its retail properties. For five years Ms. Luscombe was based in London and was Chief Executive Officer of Taylor Woodrow Construction's urban renewal subsidiary, responsible for its London Dockland developments. She also worked on the Russian and Australian projects of a private developer. Prior to that, for ten years, Ms. Luscombe was Chief Executive Officer of Pan American Properties, Inc., a New York based public REIT sponsored by the British Coal Pension Funds. During the same period she was also Chief Executive Officer and Chief Investment Officer of Buckingham Holdings, Inc., the U.S. private equity investor of the British Coal Pension Funds. Ms. Luscombe was responsible for the acquisition, management and disposition of all the assets of these two entities, including the unsolicited takeover of two publicly traded REITs. The portfolios of these entities totaled approximately $1 billion. Ms. Luscombe has sat on the boards of both public and private companies in both the U.S. and Europe, including the Zweig Fund and Zweig Total Return Fund where she was Co-Lead Director for eight years and Deutsche Bank's International Real Estate Opportunity Funds (1A and B) where she was Chair of the Management Oversight Committee until 2014. Additionally, she was appointed by the State Comptroller to serve on the Real Estate Advisory Committee for the New York State Common Retirement Fund and sat on the board of PXRE Reinsurance Company where she served as Chair of the Investment Committee for 13 years. Ms. Luscombe is also a member of the NACD and served as a member of NACD's teaching faculty, a Fellow of the Royal Institution of Chartered Surveyors and a Member of the Chartered Institute of Arbitrators. Her government and not for profit board service includes the Board of Governors of NAREIT and the Commission for the New Towns, a U.K. Government entity. She received her degree in Estate Management from Oxford Brookes University.
William T. Spitz has been a Trustee of Acadia Realty Trust since August 2007. He has served as a Director of Diversified Trust Company, a private wealth management trust company, for 22 years and has served as a Director and Principal since March 2009. Previously, he was Vice Chancellor for Investments and Treasurer of Vanderbilt University, Nashville, Tennessee for 16 years where he was responsible for managing the University's $3.5 billion endowment. He was also a member of the Senior Management Group of the University, which is responsible for the day-to-day operations of the institution. During his tenure, the Vanderbilt endowment earned returns in the top 10% of a broad universe of endowments for multiple time frames. While at Vanderbilt, Mr. Spitz conducted asset allocation studies and implemented detailed investment objectives and guidelines, developed a comprehensive risk management plan, invested in approximately two hundred limited partnerships in five illiquid assets classes, selected new custodians for both the endowment fund and the University's charitable remainder trusts and implemented a more aggressive approach to working capital management which increased returns by 2% per annum. In addition, Mr. Spitz was also on the faculty of Vanderbilt University as Clinical Professor of Management-Owen Graduate School of Management. He has also held various high-level positions with successful asset management companies and has served on the board of several companies, including Cambium Global Timber Fund, The Common Fund, MassMutual Financial, and the Bradford Fund. He has also served on multiple advisory committees, including Acadia's Opportunity Fund Advisory Boards, on which he served for 6 years. Mr. Spitz is a published author and frequent speaker at industry conferences and seminars.
Lynn C. Thurber has been a Trustee of Acadia Realty Trust since March 2016 and is currently the chairman of LaSalle Investment Management, a global real estate money management firm with over $55 billion of assets under management, investing in private real estate as well as publicly-traded real estate companies on behalf of institutional and individual investors. Prior to becoming chairman of LaSalle Investment Management, Ms. Thurber was the co-president of the Company for 6 years before becoming chief executive officer, a position she held for six years. Ms. Thurber was chief executive officer of Alex Brown, Kleinwort Benson ("ABKB") Realty Advisors’ before its merger with LaSalle Partners in 1994 and a principal at Morgan Stanley & Co., before that. She is also chairman of the board of Jones Lang LaSalle Income Property Trust, an SEC registered, non-traded REIT. Ms. Thurber earned an M.B.A. from Harvard Business School and an A.B. from Wellesley College. She is a member of the board of Duke Realty Corporation, a board member and the immediate past global Chairman of ULI-Urban Land Institute. In addition, Ms. Thurber is currently a member of The Chicago Network and the Wellesley College Business Leadership Council and a member of the board of the Bitterroot Land Trust. Ms. Thurber was the 2013 recipient of the Landauer White award from the Counselors of Real Estate and the 2015 recipient of the Lifetime Achievement Award from the ULI District Council of Chicago.
C. David Zoba has been a Trustee of Acadia Realty Trust since August 2015. Mr. Zoba served as Senior Vice President of Global Real Estate and Store Development for Gap Inc., the $15 billion retailer operating as Gap, Banana Republic, Old Navy, Athleta, Intermix and Outlet Brands, for six years before becoming Senior Real Estate Strategy Advisor for Gap Inc., a position he held until his retirement in 2016. Immediately prior to joining Gap, Inc., Mr. Zoba was Principal and Chief Operating Officer for Steiner+Associates, one of the country's most respected mixed-use retail developers. Preceding Steiner+Associates, he served as president and chief operating officer of Premier Properties, a real estate development company, for two years and worked for Galyan's Trading Company, Inc., for three years, where, as EVP, he helped create and launch a specialty sporting goods retailer that later became part of Dick's Sporting Goods. In the mid-1990s, Mr. Zoba was with The Limited (now L Brands) and served as Chief Transaction Attorney, and then expanded his responsibilities significantly to other areas during his seven-year tenure. Mr. Zoba earned his undergraduate degree from Harvard University and attended the London School of Economics for graduate studies. He has a Juris Doctorate from Case Western Reserve University Law School. Since July 2015, Mr. Zoba has been Chairman (Non-Executive), Global Retail Leasing Board, with Jones Lang LaSalle Incorporated. He is also an Executive Board Member and Chair of the Compensation Committee, International Council of Shopping Centers and serves on the newly constituted governing board for this 65,000+ member shopping center real estate trade association. He serves as a non-employee consultant for Crown Acquisitions, Inc., in connection with urban retail real estate acquisitions and in support of retailer relationships.