Edens & Avant Welcomes New CEO, Makes Management Changes

Edens & Avant announced that Terry Brown will take on the role of chief executive officer formerly held by Joe Edens, who will continue to serve as chairman. Additionally, Jodie McLean was promoted to president and chief investment officer.

Brown has acted as Edens & Avant's financial adviser since 1995 while he was chief executive of Andersen Corporate Finance L.L.C. While at Andersen, he was responsible for investment banking activities across the United States.

Brown has been involved in Edens & Avant's capital and property transactions for several years. In addition, he has been involved in the development of the company's strategic growth plans, and has long term relationships with the company's investors and senior officers.

"I am ecstatic about joining the team at Edens & Avant," Brown said. "It's a once in a lifetime opportunity." According to Brown, he has witnessed Edens & Avant's "tremendous" growth over the past five years and was involved in developing relationships with the company's investors, which include The State of Michigan Retirement System, The New York State Teachers' Retirement System and JP Morgan Investment Management Inc.

In his new role, Brown will lead the execution of Edens & Avant's new five-year strategic plan, which focuses on creating a portfolio of food-anchored assets in 13 core markets along the Eastern seaboard. According to Brown, the company plans to increase its portfolio by $1 billion or more over the next 12 to 18 months.

"Right now the single biggest challenge that we face as a company is finding the right investment opportunities," Brown said. He noted that he will focus on searching out strong assets in the core markets. Additionally, he pointed out that Edens & Avant plans to focus about 20 percent of its investment activity on new development.

McLean also has significant experience with Edens & Avant, having been with the company for the past 13 years and serving as chief investment officer since 1997. She has been responsible for the acquisition of more than $1.5 billion of retail assets. McLean's focus will be on expanding the company's assets and operations in the Middle Atlantic and Northeast regions of the United States.