Interstate has announced that H. Eric Bolton has been appointed to its board of directors. Bolton is chairman, chief executive officer and president of Memphis, Tennessee-based Mid-America Apartment Communities, a real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of apartment communities. He joined the company shortly after its initial public offering in 1994 as director of new development, became president and COO and a director of the company in 1997, CEO in 2001 and board chairman in 2002. His expertise in multi-family real estate includes new development, redevelopment, acquisitions/dispositions and property management. In 2002, he was named the National Multifamily Executive of the Year by Multifamily Magazine.
Previously, he served as chief financial officer of Trammell Crow Asset Management, the institutional investment arm of Trammel Crow Company in Dallas, responsible for managing institutional capital investment funds. Prior to that, Bolton was chief financial officer of the consumer loan division of First Gibraltar Savings and Loan in Dallas.
“Eric brings a unique combination of skills and hands-on experience to the table,” said Paul W. Whetsell, Interstate’s chairman of the board. “In addition to more than 20 years of experience in real estate acquisitions and finance, he has a solid grounding in the operating side of the business.”
“Eric’s wealth of experience in finance and real estate makes him an extremely valuable addition to our board,” said Thomas Hewitt, chief executive officer. “Specifically, his extensive knowledge of investments and capital markets will be a great resource to the company as we continue to execute on our growth strategy to acquire hotel real estate, both wholly-owned and through joint ventures.”