Carr Properties Names John Schissel Chief Financial Officer and President

Carr Properties, a leading owner, operator, and developer of Class A office properties in the Washington D.C. area, is pleased to announce that John Schissel will join the Company as Chief Financial Officer and President.

“We are pleased to have John re-join Carr Properties. John served as our CFO from 2004 to 2009 and played a lead role in taking us public as Columbia Equity Trust in 2005 and managing our merger with JP Morgan Asset Management in 2007,” said Oliver T. Carr, III, Founder and Chief Executive Officer of Carr Properties. “John’s executive leadership skills along with his financial, capital markets and operational expertise will serve Carr Properties well as we continue to grow our platform in the coming years.”

“I couldn’t be more excited to re-join Ollie and the Carr Properties’ team. I look forward to contributing to the on-going success of Carr Properties’ high-quality platform in my hometown of Washington, D.C., a region I have lived and worked in for over 35 years,” said Mr. Schissel.

After leaving Carr Properties, Mr. Schissel served as the CFO of BRE Properties, a multi-billion market cap publicly-traded multifamily REIT based in San Francisco, prior to its merger with Essex Property Trust, and most recently as CFO of Invitation Homes, the largest owner and operator of single-family rental homes in the United States. Prior to his initial tenure at Carr Properties, John worked at Wachovia Securities (and predecessor institutions) in both the firm’s REIT Investment Banking and Lending Groups.

Mr. Schissel is currently transitioning his duties at Invitation Homes and is expected to join Carr Properties during the fourth quarter.

About Carr Properties

Carr Properties is a privately held real estate investment trust focused on creating value for its shareholders through the ownership, acquisition and development of high-quality office properties in the greater Washington area. The company owns $1.6 billion of commercial office properties, consisting of approximately five million square feet of operating properties and three major development properties – the Washington Post Site in Washington, D.C.; 2311 Wilson Boulevard in Arlington, Virginia; and 2025 Clarendon Boulevard in Arlington, Virginia. Upon completion, these development projects will add almost one million square feet of trophy-quality office space to the company’s portfolio. The company is also continuing to expand its portfolio through additional strategic investments in the Washington area.

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