REIT Manager and Philanthropist Arthur Zankel dies Arthur Zankel, managing partner at the money management firm High Rise Capital Management L.P., died July 28 at New York Presbyterian Hospital. He was 73. Zankel was a NAREIT member and part of NAREIT's Investor Advisory Council. Zankel was a member of the Citigroup, Inc. board of directors from 1986 until 2003, and played a significant role in the 1998 Travelers-Citibank merger. Zankel was also a vice chairman at Carnegie Hall, and gave $10 million for the 2003 construction of a recital space that bears his and his wife's name, the Judy and Arthur Zankel Hall.

AmeriVest Properties, Inc. (NYSE: AMV) named President and Chief Operating Officer Charles Knight to the additional role of CEO.

Apartment Investment & Management Co. (NYSE: AIV) announced that Paul J. McAuliffe will step down as chief financial officer effective first quarter of 2006. Thomas M. Herzog, currently the company's chief accounting officer, has already begun transitioning into the role of CFO.

R. Scot Sellers, chairman and CEO of Archstone-Smith (NYSE: ASN), was named Ernst & Young's Entrepreneur of the Year in Real Estate/Hospitality/Construction for the Rocky Mountain Region.

Gianni Ottaviano was promoted to vice president, structured finance at Arbor Realty Trust, Inc. (NYSE: ABR). Also, Valerie Sganga was promoted to assistant vice president of operations at Arbor Commercial Mortgage, LLC.

Paul R. Smith joined Crescent Real Estate Equities Company (NYSE: CEI) as managing director, fund management.

Developers Diversified Realty Corporation (NYSE: DDR) promoted Executive Vice President Daniel Hurwitz to senior executive vice president and chief investment officer.

Eagle Hospitality Properties Corporation (NYSE: EHP) named Raymond D. Martz CFO.

Equity One, Inc. (NYSE: EQY) has appointed Alan Merkur to the senior vice president and director of transactions role at the company. Previously Merkur held the vice president and head of acquisitions position.

David J. Neithercut, executive vice president of corporate strategy for Equity Residential (NYSE: EQR), was appointed president of the company.

James Flaherty III, president and CEO of Health Care Property Investors, Inc. (NYSE: HCP), was named chairman of the board of directors, succeeding Ken Roath, who will remain a director of the company.

Parkway Properties, Inc. (NYSE: PKY) appointed William R. Flatt as executive vice president, CFO and secretary. Flatt most recently served as vice president and asset manager for the company's Chicago and Phoenix markets.

William Elder has joined Reckson Associates Realty Corp. (NYSE: RA) as senior vice president and co-director of its New York City division.