Sandra Lee Robertson resigned from her position as senior vice president of finance at Colonial Properties Trust (NYSE: CLP) to pursue family interests. As a result, Colonial promoted Jerry A. Brewer, vice president of financial reporting, to senior vice president of corporate treasury. Brewer will also assume the duties for all corporate finance activities.

CNL Capital Markets Inc. announced the appointment of its new president, Grayson Sanders. Sanders succeeded Robert A. Bourne, who became chairman and chief executive officer.

FelCor Lodging Trust Incorporated (NYSE: FCH) named Richard A. Smith chief financial officer and executive vice president.

Gables Residential (NYSE: GBP) promoted Dawn H. Severt to senior vice president. Severt previously served as chief accounting officer.

GE Real Estate has changed its name to GE Commercial Finance Real Estate in order to better reflect a number of structural changes, including greater transparency and improved leverage of broad resources to serve customers around the globe.

Green Street Advisors' co-founder and former CEO Jon Fosheim and former senior analyst John Herold launched a new investment management firm, Oak Hill REIT Management, LLC. The firm will invest in REITs and other publicly traded real estate companies. Fosheim was co-recipient of the NAREIT Industry Achievement Award in November 2003.

PS Business Parks (AMEX: PSB) named John W. Petersen executive vice president and chief operating officer.

Matt Gilman, formerly a senior portfolio manager at ABP Investments, is now CEO and portfolio manager of Starwood Real Estate Securities. Senior analyst Mary Hogan replaced Gilman.