SoCal Industry Roundup: Watt Companies Names New President
Watt Companies hired a 30-year industry veteran, John Devereux, as president.
A development firm and two other investment groups in Southern California announced major additions as they advance into 2020.
Watt Companies hired a 30-year industry veteran, John Devereux, as president. It was one of Nadine Watt’s first appointments since taking the role as CEO in January. Devereux will report to Watt, who previously served as president for nine years.
Watt Companies, a Santa Monica-based development and investment firm, plans to expand its acquisitions, development and joint venture opportunities. In his role, Devereux will help oversee strategy, with a particular focus on financing and long-term growth initiatives. Devereux previously held executive positions at OneWest Bank, Colony Capital, and real estate technology company PeerStreet.
AIG asset management executive Todd Bedingfield joined the Beverly Hills-based investment banking firm Sonnenblick-Eichner Company as a senior managing director. Also with more than 30 years of experience, Bedingfield focuses on institutional capital markets transactions. He spent 21 years at AIG, including 14 as the head of Western U.S. loan origination.
He joined AIG as vice president in 1999 after working with SunAmerica Investments. For the past two years, Bedingfield was principal and founder of TAB Capital, a commercial real estate advisory firm in Los Angeles. He has originated more than $20 billion in financings, loans, preferred equity, and CMBS investment over the course of his career. Sonnenblick-Eichner Company specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing as well as joint-venture equity transactions.
RevOZ Capital, a real estate investment firm specializing in opportunity zones, announced the formation of its board of advisors, who will provide strategic support and counsel to the firm’s principals. The board of advisors includes Christopher Cox, William Cvengros, Stephanie Rawlings-Blake, James Doti, Shay Hawkins, Christa Cole, Jerome A. Fink, Guy Johnson, and Kunal Merchant.