HOUSTON, March 15, 2007 (PRIME NEWSWIRE) -- Hartman Commercial Properties REIT (HCP REIT), which owns and manages 36 commercial properties in Texas, announced hiring two key people to join its management team.
Samuel Demissie has joined HCP REIT as director of acquisitions & asset management. His responsibilities include overseeing and performing investment, market and property analysis. He is responsible for determining asset value, monitoring due diligence, recommending acquisitions and analyzing alternatives, as well as implementing the company's five-year business plan. He will report to James C. Mastandrea, Chairman and Interim CEO
Demissie has several years of senior-level management experience with NEC, one of the world's leaders in the development and manufacturing of telecommunications related equipment, in product development, marketing analysis and business development. Since 2002, he has held marketing positions at other telecommunications manufacturers. He is a graduate of the University of Cincinnati, where he earned his BA and MA degrees in Economics.
Theodore R. Zeck, CPA, who has been working as an independent consultant with HCP REIT, has joined the company as information systems director. He will report to John J. Dee, Chief Operating Officer.
Zeck had provided nationwide implementation, training and support of Yardi Systems Inc., property management software for hundreds of clients. He also served as controller of the HOMZ Group, a multi-state real estate development and management firm. Zeck has held other controller and systems consultant positions and since 1997 has been in private practice. Zeck was responsible for installing the computer hardware and software systems that HCP REIT uses to manage its properties and will continue to direct and implement the company's technology decisions. Ted is a licensed CPA in Wisconsin, and a graduate of the University of Wisconsin.
Chairman and Interim CEO James C. Mastandrea said, "The success of our business is a direct result of the qualified and experienced individuals that have joined our management team in filling key positions. Hiring Samuel and Ted for these key positions will give us a strategic advantage as we continue to implement our five-year business plan."
About HCP REIT (Hartman Commercial Properties REIT)
HCP REIT owns and operates retail, office and office warehouse properties, 33 of which are in the Houston area, two office buildings in Dallas, and a retail plaza in San Antonio. For more information go to http://www.hcpreit.com
Forward-Looking Statement:
This report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development acceptance, and the impact of competitive services and pricing and general economic risks and uncertainties.