Management

MATTHEW BEVERLY APPOINTED CEO TO CULLINAN PROPERTIES

FOR IMMEDIATE RELEASE

MATTHEW BEVERLY APPOINTED CEO TO CULLINAN PROPERTIES

(Peoria, IL – January 19, 2022) – Cullinan Properties, Ltd. today announced the appointment of Matthew Beverly as Chief Executive Officer for the company. He succeeds Christopher M. West, a partner in the company, who will transition from CEO to Partner/Sr. Advisor for Cullinan Properties. Cullinan Properties, Ltd. is a leading national provider of real estate services specializing in commercial and mixed-use developments and acquisitions.

“Over the past several months, we conducted an extensive search for a CEO candidate with the expertise and ability to lead the company into new markets and effectively grow Cullinan’s portfolio,” said Diane Cullinan Oberhelman, Founding Partner and Chairman of Cullinan Properties. “We believe Matt’s depth of experience and remarkable track record will propel Cullinan Properties forward and create additional exponential value in the years ahead.”

Mr. Beverly has served in numerous senior leadership roles during his 20-year career in commercial real estate. He joins Cullinan Properties from Retail Properties of America, Inc. (RPAI, currently Kite Realty Group), his employer since 2014 where he most recently served as RPAI’s President, East Division, overseeing the Leasing, Asset Management, Property Management, Development, Marketing and Tenant Coordination groups. Mr. Beverly’s portfolio consisted of 8 million square feet of mixed-use real estate, which produced $130.0 million of net operating income. Mr. Beverly also oversaw ongoing development within the division, which totaled $450 million, with a development pipeline of approximately $600 million of future spend. Mr. Beverly joined RPAI from General Growth Properties, Inc. (GGP, currently Brookfield Retail Properties) where he served as Vice President, Investments since 2008. At GGP, he closed over $4.7 billion of investment activity, which included the dispositions of non-core properties and the acquisitions of new shopping centers, urban retail properties, and joint venture ownership interests. Beverly started at GGP in 2002 with the international group, where he helped lead the company’s international investment activity and provided on-going asset management to GGP’s international holdings.

“We greatly value and appreciate Chris’ leadership over the past 20 years,” stated Cullinan Oberhelman. “And we look forward to continuing to work with Chris on development projects Cullinan currently has underway, such as Rock Run Crossings, a 300-acre mixed-use development in Joliet, IL, in addition to new opportunities to further build our pipeline of projects to achieve our growth goals for the company.”

Mr. Beverly will be based in Cullinan Properties’ Chicago office.

About Cullinan Properties
Cullinan Properties, Ltd. is a leading developer of real estate specializing in commercial and mixed-use developments and acquisitions. With
offices in Chicago, IL, Peoria, IL, and St. Louis, MO, Cullinan Properties is a multi-disciplined real estate firm that develops, manages and
owns mixed-use, retail, multi-family, office, governmental and medical properties throughout the United States. The company is certified as
a Women’s Business Enterprise through the Women’s Business Enterprise National Council (WBENC). For additional information about
Cullinan Properties, Ltd., visit CullinanProperties.com.

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