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Highlands REIT Accounting Exec to Resign this Week

Highlands REIT Inc., a publicly registered non-traded real estate investment trust, disclosed that Joseph Giannini, the company’s senior vice president, chief accounting officer, treasurer and principal accounting officer will resign from his positions on June 7, 2019.

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Highlands REIT Inc., a publicly registered non-traded real estate investment trust, disclosed that Joseph Giannini, the company’s senior vice president, chief accounting officer, treasurer and principal accounting officer will resign from his positions on June 7, 2019. The company said that there were no disagreements with Giannini that led to him resign.

Paul Melkus, who was hired in April as the company’s executive vice president, chief financial officer and principal financial officer, has been appointed as principal accounting officer and treasurer, effective as of Giannini’s resignation.

Melkus previously served as a member of the company’s board of directors, as well as chair of its audit committee since the company’s spin-off from InvenTrust in April 2016.

From 2012 until 2016, he served as global head of capital markets in the real estate and infrastructure department for Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, and as a member of its executive committee. In this role, he was responsible for the development of financing strategy and management of lending relationships for the fund’s global real estate investment portfolio.

During his career, Melkus has served as senior vice president of capital markets at publicly traded REIT General Growth Properties Inc. (NYSE: GGP), director of capital markets at Deutsche Bank Asset Management, and director of capital markets investments at General Electric Capital Corporation.

He holds a bachelor’s degree in economics and management from DePauw University and a master’s degree from the University of Wisconsin’s Real Estate Investment and Urban Economics program.

Highlands REIT is a non-traded real estate investment trust that was spun-off from InvenTrust Properties Corp. (formerly Inland American Real Estate Trust) in April 2016. The company oversees a 17-property portfolio comprised of office, industrial, and retail assets, correctional facilities, and unimproved land.

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