|By PR Newswire||
|April 7, 2014 05:15 PM EDT||
ROCKVILLE, Md., April 7, 2014 /PRNewswire/ -- Washington Real Estate Investment Trust (Washington REIT) (NYSE: WRE), a leading owner of commercial and multifamily properties in the Washington, D.C. area, today announced the appointment of Mr. Thomas Q. Bakke as Executive Vice President and Chief Operating Officer, effective on April 21, 2014. In this role, Mr. Bakke will be responsible for overseeing all aspects of Washington REIT's real estate operations, including asset management, marketing, leasing, property management and development.
"I am extremely pleased to announce Tom as COO of Washington REIT," said Paul T. McDermott, President and Chief Executive Officer of Washington REIT. "As a distinguished leader in the real estate industry with over 25 years of experience, Tom has a strong and proven track record of developing and growing the value of real estate properties. He has extensive operational experience across our entire asset portfolio, including office, retail and residential properties. Tom will play a pivotal role in driving our strategy forward as we continue to focus on our core business and aggressively pursue strategic opportunities to further strengthen and expand the portfolio. I look forward to working closely with Tom as we elevate Washington REIT to a new level of success that delivers long-term value for our shareholders."
Prior to joining Washington REIT, Mr. Bakke served as a Senior Managing Director at Cushman & Wakefield where he was the Market Leader for the Northern Virginia office. Prior to that, he spent over 20 years serving in various senior positions at Equity Office Properties (EOP), a national commercial real estate owner and subsidiary of The Blackstone Group. At EOP, he played an instrumental role in the growth and development of EOP from a small opportunistic investment company of 5 million square feet to an industry leader of Class A office properties with over 150 million square feet across 35 markets in the United States.
"I am excited to join the Washington REIT team at a time when the industry is beginning to recover from a cyclical low," said Mr. Bakke. "I believe Washington REIT has the right strategy in place and is well positioned to capitalize on the strength of its three core businesses as market conditions continue to improve over the coming years. I am confident that we will distinguish Washington REIT in the competitive marketplace and restore a path of growth for the company and its investors."
About Thomas Q. Bakke
Thomas Q. Bakke joins Washington REIT with more than 25 years in the real estate industry. Prior to joining Washington REIT, he served as a Senior Managing Director at Cushman & Wakefield where he was the Market Leader for the Northern Virginia office since April 2013. From February 2007 to January 2012, Mr. Bakke held the position of Market Managing Director for Boston at Equity Office Properties (EOP), a national commercial real estate owner and a subsidiary of The Blackstone Group. At EOP, he played an instrumental role in the growth and development of EOP from a small opportunistic investment company of 5 million square feet to an industry leader of Class A office properties with over 150 million square feet across 35 markets in the United States prior to sale. As the market leader, he was responsible for all aspects of owning and operating a $4.5 billion, 12 million square foot Class A office building portfolio in Boston with concentrations in the Financial District, Back Bay, Cambridge, Waltham and Burlington. Responsibilities included: asset management, marketing, leasing, property management, construction, redevelopment, acquisitions and dispositions. Under his leadership the company completed major redevelopments of four high profile CBD office towers resulting in a portfolio value gain of over $40 million. Over his 20 plus years at EOP, Mr. Bakke held a variety of other senior positions with the company and its predecessors including Senior Vice President, National Leasing, responsible for all marketing and leasing of the company's 150 million square foot national portfolio and Senior Vice President, Field Operations with responsibilities for all leasing and property operations for EOP's national portfolio prior the company's public offering in 1997. Prior to joining EOP in 1991, Mr. Bakke held positions with The Staubach Company and Coldwell Banker Commercial Real Estate Services (predecessor of CBRE).
Mr. Bakke is a graduate of the United States Naval Academy and has a MBA in Finance, attending MIT's Sloan School of Management and Golden Gate University. He spent 14 years in the U.S. Naval Reserve and was a former F-14 aviator, attaining more than 1000 flight hours on aircraft carriers with direct involvement in such world crisis situations as the Iranian hostage rescue effort and the Iran-Iraq war.
About Washington REIT
Washington REIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. Washington REIT owns a diversified portfolio of 53 properties totaling approximately 7 million square feet of commercial space and 2,890 residential units, and land held for development. These 53 properties consist of 24 office properties, 16 retail centers and 13 multifamily properties. Washington REIT shares are publicly traded on the New York Stock Exchange (NYSE: WRE).
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, the potential for federal government budget reductions, changes in general and local economic and real estate market conditions, the timing and pricing of lease transactions, the availability and cost of capital, fluctuations in interest rates, tenants' financial conditions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2013 Form 10-K. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
William T. Camp
6110 Executive Blvd., Suite 800
Rockville, Maryland 20852
Executive Vice President and
Chief Financial Officer
E-Mail: [email protected]
SOURCE Washington Real Estate Investment Trust
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jul. 30, 2015 07:00 AM EDT Reads: 1,671
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jul. 29, 2015 11:45 PM EDT Reads: 1,367
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 11:45 PM EDT Reads: 1,022
"We have been in business for 21 years and have been building many enterprise solutions, all IT plumbing - server, storage, interconnects," stated Alex Gorbachev, President of Intelligent Systems Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 10:45 PM EDT Reads: 1,027
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Jul. 29, 2015 05:30 PM EDT
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 05:15 PM EDT Reads: 363
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
Jul. 29, 2015 04:30 PM EDT Reads: 501
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 04:15 PM EDT Reads: 328
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Jul. 29, 2015 04:00 PM EDT Reads: 1,070
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to tran...
Jul. 29, 2015 03:15 PM EDT Reads: 396
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Jul. 29, 2015 03:15 PM EDT Reads: 242
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Jul. 29, 2015 03:00 PM EDT Reads: 468
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
Jul. 29, 2015 03:00 PM EDT Reads: 1,258
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Jul. 29, 2015 02:30 PM EDT Reads: 326
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Jul. 29, 2015 02:30 PM EDT Reads: 111