Former Opus Exec Takes Pole Position at Cole
Thomas Roberts joins the Phoenix-based Cole Real Estate Investments as president of the firm’s real estate group. Prior to his new post, Roberts was president and CEO of the Phoenix-based Opus West, a position he assumed in 1993. Opus West filed for Chapter 11 bankruptcy protection this summer, shortly after Roberts left the firm earlier in the year. In his new role, Roberts will oversee Cole’s real estate activities, including acquisitions, underwriting, asset management and leasing, the company said in a release. “Tom is a fabulous and seasoned leader with a great reputation in the commercial real estate industry. He has deep expertise in all facets of the commercial real estate business. His years of experience, industry relationships, and solid character are all great assets to Cole,” said CEO Chris Cole. “We are delighted to have Tom join our team in this leadership role.” During his career at Opus West, Roberts was responsible for the design, construction and development of more than 50m square feet of commercial real estate worth more than $8bn. But Opus West and parent company, Opus Corp., were hit hard by the economic downturn, as new development slowed and values on existing developments declined. Write to Austin Kilgore.