FOR IMMEDIATE RELEASE
Contact: Media Relations
Telephone: (305) 379-7500
Planning for the next 25 years, Parmenter Names Christopher McGrew President and Chief Investment Officer
MIAMI, Fla., January 11, 2016 — Parmenter, a privately held commercial real estate investment, management and development firm with approximately $2 billion in assets throughout the United States, has announced several management promotions aimed at strengthening its executive team and assuring the firm’s continued success well into the future.
In a move to formalize roles within its executive team and provide for a consistent management profile going forward, Christopher McGrew has been appointed President and Chief Investment Officer of the firm; Michael Holmes, Regional Chief Operating Officer & Senior Vice President Acquisitions – Southeast Region, has been promoted to Principal – Southeast Region, reporting to John Davidson, Managing Principal – Southeast Region; and Robert Motes, General Counsel, has been named Principal and General Counsel.
“I am thrilled to announce the promotions of Chris, Mike and Robert,” said Darryl Parmenter, Chief Executive Officer and Chairman. “Parmenter has recently completed 25 years of successfully investing on behalf of our partners and investors, and we are now making sure we have the people and the infrastructure in place to continue to grow and succeed for the next 25 years. For quite some time now, the office of President has intentionally been left vacant, waiting for us to find the right person to lead the company. We have found that person in Chris. I will remain CEO and Chairman and fully engaged with the firm, but Chris will now be the face and voice of Parmenter as we enter our next chapter. Providing our partners, investors and employees with the security and confidence that Parmenter is planning for transitions and successions before they are needed is important to keeping the trust of those we serve. I’m happy we can do that with the promotions of Chris, Mike and Robert.”
McGrew joined Parmenter in 2012 as Managing Principal and CIO. With more than 20 years of experience in the real estate industry, he has sourced and closed approximately $2 billion worth of transactions in the Washington, DC, New York City and West Coast gateway metropolitan markets. In his role as President, he will be responsible for the strategic leadership of the firm as it pertains to investment platforms, capital raising and asset management, as well as assuring the firm’s continued relevance, credibility and viability. He will also be responsible for the day-to-day operations and overall accountability to the investors, partners and CEO.
Michael Holmes, Principal – Southeast Region, has been with Parmenter since 2007. With over 17 years of experience in real estate, he leads and manages Parmenter’s development, leasing and acquisitions of assets in the Southeast Region.
Robert Motes, Principal and General Counsel, has been with Parmenter since 2008. With over 18 years of experience in real estate law, Robert is responsible for the legal affairs of Parmenter and also serves as the Director of Human Resources.
“When I joined Parmenter three years ago, I joined an incredible organization,” said McGrew. “I was particularly drawn to the integrity and entrepreneurial passion I found in the executive team and among the employees. It’s an organization that truly looks at investment decisions with an eye to serving its investors and partners first, as well as being a responsible corporate citizen to the industry. I look forward to working closely with Darryl to continue that focus.”
“The promotions of Chris, Mike and Robert are all part of the Parmenter culture of doing right for our partners and investors,” explained Andrew Weiss, Managing Principal and Chief Operating Officer. “It became obvious that it was time for us to develop a succession plan before one was needed, and to formalize the roles of the group that will lead the company for the next 25 years. We began implementing our succession plan last year with Jeff Granoff’s promotion to Managing Principal and Chief Financial Officer, and we are continuing to put it into place with today’s announcement. Our partners, investors and employees deserve to know that we have plans in place for a smooth transition whenever it is needed. This is all part of being a responsible fiduciary and our ‘no surprises’ culture.”
Parmenter is a fully integrated real estate investment, management and development firm, headquartered in Miami, Florida, with regional offices in Dallas and Atlanta. The company owns and operates high-quality office properties, and is actively involved in the expansion of its portfolio throughout its targeted markets.
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For more information on this topic please contact Parmenter Media Relations by calling (305) 379-7500 or via e-mail at MediaRelations@parmco.com.