Equity LifeStyle Properties Inc. (ELS) announced that Michael Berman has tendered his resignation as executive vice president and CFO of the company to take a similar position at General Growth Properties.
ELS said in a news release that Berman will be available to assist the company in the transition of duties for a short period of time.
The company also said that it has appointed Marguerite Nader to succeed Berman effective yesterday (Nov. 28). Nader currently serves as the company’s executive vice president – new business development and has worked for the company since 1993 serving in various roles, including asset management and sales and marketing.
Berman replaces Steve Douglas, who will return to Brookfield Asset Management after his tenure with GGP and assume a role with Brookfield. Douglas will remain with GGP until Dec. 31 to assist with the transition.
In 2003, Berman was an associate professor at the New York University Real Estate Institute. Berman was a managing director in the investment banking department at Merrill Lynch & Co. from 1997 to 2002.