PulteGroup announced Thursday the election of Bryce Blair, who will retire from his role as CEO of AvalonBay Communities, Inc. at the end of 2011, to its Board of Directors. As a member of the Board, Blair will join the compensation and management development, and finance committees.
As the for-sale single family arena continues with prospects of big challenges for the forseeable future, big builder companies such as Beazer are exploring for-rent business model options. Having Blair aboard as an expert on capital structures around real estate investment trusts may suggest exploration of this business at PulteGroup.
Read the press release here.