Archstone Installs New President and CFO

Archstone Installs New President and CFO

DENVER, CO - Archstone, a leader in apartment investment and operations, today announced that it has promoted Charles E. Mueller Jr. to president and chief operating officer and appointed R. Webster Neighbor as its chief financial officer.

Mr. Mueller, who has held various leadership positions with Archstone since 1994, took over as Archstone’s chief operating officer in 2007, while retaining his responsibilities as chief financial officer. Since Mr. Mueller’s appointment to COO, the company has been No. 1 in same-store NOI performance compared with its public company peers. Mr. Mueller has been Archstone’s chief financial officer since 1998.

“During the last several years, Chaz has done an excellent job assuming responsibility for the operational component of our company and increasing his responsibilities on the investment side, while still retaining oversight of our complicated finances and balance sheet,” said R. Scot Sellers, Archstone’s chief executive officer. “He oversees an enormous portion of our business, and I am very pleased and proud that we are naming him president and chief operating officer of Archstone.”

Since 2005, Mr. Neighbor has served in various roles in investment banking, fixed income and principal investment at Lehman Brothers Holdings Inc., most recently as senior vice president. During his time with Lehman Brothers, Mr. Neighbor completed more than $30 billion of public and private real estate transactions. In addition, he was responsible for managing Lehman's investments in Archstone after the company’s privatization in 2007.

“Web is a wonderful cultural fit for us, possessing a rare combination of humility and incredible financial acumen, and already knows our company extremely well,” Mr. Mueller said. “He is extraordinarily well-respected by our owners, investors, partners and associates, and will do an exceptional job in all aspects of capital raising, balance sheet management and all of the CFO responsibilities.”

Mr. Mueller received his Bachelor in Business Administration in Real Estate and Finance from the University of Texas at Austin and his Master in Business Administration from Southern Methodist University. Mr. Neighbor holds a Bachelor of Science in Civil Engineering from Oregon State University and a Master of Business Administration in Corporate Finance with an emphasis in Real Estate from the University of North Carolina at Chapel Hill Kenan-Flagler Business School, where he was a Leonard Wood Fellow and a Kenan-Flagler Fellow.

Archstone is a recognized leader in apartment investment and operations. The company's portfolio is concentrated in many of the most desirable neighborhoods in and around Washington, D.C., Los Angeles, San Diego, San Francisco, New York, Seattle and Boston. Archstone strives to provide great apartment rentals and great service to its customers—backed by service guarantees. As of March 31, 2012, the company owned or had an ownership position in 434 communities located in the United States and Europe, representing 73,135 units, including units under construction.

Source: Archstone / #Multifamily #Apartments

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