EastGroup Properties, Inc. Announces Board Changes
July 08, 2020 at 05:29 pm EDT
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On July 6, 2020, the Board of Directors of EastGroup Properties, Inc. increased the size of the Board from nine to ten directors and appointed Katherine M. Sandstrom to the Board as an independent director to fill the vacancy resulting from such increase, each effective as of July 6, 2020. In addition, the Board appointed Ms. Sandstrom to the Audit Committee of the Board, also effective as of July 6, 2020. Ms. Sandstrom has served as independent director for Healthpeak Properties since 2018. She previously served in several roles at Heitman LLC, most notably as senior managing director and as global head of Heitman LLC’s Public Real Estate Securities business. After joining Heitman in 1996, she held several senior leadership positions across multiple facets of the institutional real estate investment industry. Additionally, Ms. Sandstrom served on the firm’s global management committee, the board of managers and the allocation committee. Ms. Sandstrom is a certified public accountant, and EastGroup Properties’ board of directors has designated Ms. Sandstrom as an audit committee financial expert under the U.S. Securities and Exchange Commission (the “SEC”) rules and regulations and has determined that she has accounting and related financial management expertise within the meaning of the listing standards of the New York Stock Exchange.
EastGroup Properties, Inc. is an internally managed equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in Sunbelt markets throughout the United States, primarily in the states of Florida, Texas, Arizona, California and North Carolina. The Company owns approximately 510 industrial properties in 12 states. The Companyâs portfolio includes development projects and value-add properties in lease-up and under construction, including approximately 59.2 million square feet consisting of 470 business distribution properties containing 53.9 million square feet. It also has 17 bulk distribution properties containing 4.4 million square feet, and 23 business service properties containing 900,000 square feet.
EASTGROUP PROPERTIES, INC. 
