Carter names Bob Peterson chairman
Veteran developer and company CEO replaces
ATLANTA - December 10, 2004 - Carter today
said Bob Peterson, company CEO and experienced developer and real
estate financier, is succeeding Billy Mitchell as chairman of the
Atlanta-based commercial real estate firm.
Mitchell, who became an Atlanta real estate icon
during his tenure as top executive of Carter, has been named chairman
emeritus of Carter. Also, as part of the transition, Scott Taylor,
executive vice president and chief operating officer, has been promoted
The changes are effective immediately.
"This is a natural transition and leaves Carter well-positioned
to take advantage of the commercial real estate market as it begins
to rebound," Mitchell said. "Carter is in very capable hands with
Bob at the helm."
Peterson, who joined Carter as executive vice president
of brokerage and corporate services in May 2001, has more than 28
years of experience in commercial real estate. In October 2002,
Peterson replaced Mitchell as CEO of Carter and Mitchell was named
Peterson and Taylor will continue to work closely
with Trent Germano, executive vice president of development, and
Jim Shelton, executive vice president of investments, and the rest
of the executive team to focus on creating value through relationships.
Carter's four business units are investments, development, transaction
services and property management.
Under Peterson's leadership, Carter has ramped up
its investments division while fortifying the other three divisions.
Carter recently closed its first investment fund, The Carter Fund,
which currently is acquiring properties across the Southeast. The
Carter Fund also will invest in new developments such as its proposed
Peachtree Road Townhomes project on Peachtree Road in Atlanta's
Carter ranks as the 12th largest office developer
and 24th largest industrial developer in the country, according
to National Real Estate Investor magazine.
Germano, who leads Carter's development business,
said Peterson will continue Carter's proud heritage of capable chairmen
who are committed to the company and the community.
"Bob's proven leadership ability will serve Carter
well. He is a successful developer with extraordinary connections
to the capital markets as well as an effective strategic-minded
leader," Germano said. "He will build on the legacy of Billy Mitchell,
Frank Carter and others to ensure that Carter remains one of the
pre-eminent real estate firms in the country."
Peterson made his initial mark on Atlanta real estate
with Peterson Properties, a full-service real estate firm that developed
more than 4 million square feet of office and industrial space and
participated in more than $1 billion in investment transactions.
In 1996, CarrAmerica Realty Corp. (NYSE: CRE) acquired
Peterson Properties to gain entry into the Atlanta market. Peterson
served as president of CarrAmerica Development Inc. and on the real
estate investment trust's investment and operating committees. While
Peterson was at CarrAmerica, the company acquired and developed
$1.5 billion worth of office properties in the United States.
Taylor joined Carter in 2003 from Holder Properties,
where he served as president. While at Holder, Taylor was involved
in the development of more than 7 million square feet of space valued
at more than $850 million.
"Scott is unique in that he combines the talents of
strong relationship skills, great intuition about real estate and
a disciplined approach to execution," Peterson said. "Scott is a
fierce competitor who wins by helping others win."
Like Peterson, Taylor has strong client relationships
that allow him to source and create new opportunities.
Founded in 1958, Carter is Atlanta's oldest and largest privately
held commercial real estate firm. Carter provides a diverse range
of commercial real estate services, including investments, development,
transaction services, and property management to real estate users
In addition to its Atlanta headquarters, Carter maintains
offices in Birmingham, Ala., Jacksonville, Fla., Orlando, Fla.,
Raleigh, N.C., and Tampa, Fla. National and international services
are provided through Carter's ownership in ONCOR International.
For additional information on Carter, please contact Kerri
Taylor, at 404.888.3241.