United Properties’ Frank Dutke, president and CEO, to retire in June 2016

Eva Stevens and Bill Katter promoted to co-president roles

MINNEAPOLIS (June 11, 2015) – United Properties’ President and CEO Frank Dutke has announced plans to retire in June 2016, which will end a 23-year-long tenure with the company.

As United Properties’ chief executive since 2008, Dutke, 63, has overseen the company’s investment and development activities throughout Minnesota, Colorado, Wisconsin, Illinois and Virginia. He has led the organization through its largest business expansion in the company’s nearly 100-year history, overseeing numerous acquisitions, dispositions, financings, partnerships and new development projects.

As part of the transition of leadership, two current United Properties executives will be promoted to co-president roles, effective July 1, 2015. Eva Stevens will assume the role of president-United Properties Investment and chief operating officer, and Bill Katter will assume the role of president-United Properties Development and chief investment officer. Stevens will oversee the stable investment portfolio and business operations, while Katter will secure new investment opportunities and lead development activities for the firm. Upon Dutke’s retirement, both will report to Bert Colianni, CEO, Marquette Companies, a holding company for various Pohlad operating companies.

“This is part of an orderly transition in leadership over the next year,” said Dutke, who will retain the title of CEO until his retirement. “Fortunately, I have two valued, long-term colleagues in Eva and Bill, each with strong expertise and a proven, successful track record in their respective businesses of investment and development.” United Properties’ investment portfolio consists of more than 50 office, medical, industrial, retail and senior living with services assets. The company’s active developments include more than three million square feet in Denver, Minneapolis and Chicago.

Dutke serves as a member of the ULI Minnesota Advisory Board, U.S. Bank Twin Cities Advisory Board and the City of Minneapolis Development Finance Committee. He is a member of NAIOP, the Minnesota Shopping Center Association (MSCA) and the Urban Land Institute (ULI). He is also a member of the board of directors of CornerHouse, a local nonprofit that advocates for children and vulnerable adults.

Prior to joining United Properties in 1993, Dutke held an investment management position with United Properties’ affiliate, NorthMarq Capital. He also held finance positions with Citicorp and U.S. Bank and practiced law with Doherty Rumble & Butler.

“Throughout his tenure, Frank has been a trusted and respected leader and considered one of the brightest real estate professionals in the Twin Cities,” said Colianni.

Previously, Stevens served as executive vice president and chief operating officer. As president-United Properties Investment, she will oversee all aspects of the strategy and direction for the company’s stable investment portfolio. In addition, Stevens continues as the United Properties chief operating officer and is responsible for accounting, insurance, information technology, governance, administration and human resources for both United Properties Investment and United Properties Development.

Katter, who previously served as executive vice president, assumes the role of chief investment officer for United Properties as well as president-United Properties Development. He will provide the direction and strategy for the development company, leading its development businesses in all markets. Additionally in his role as chief investment officer, Katter is responsible for overseeing the sourcing and risk management for all company investment activity. Katter has overseen several high profile projects, including redeveloping Ford Center, developing the Be the Match headquarters, and assembling the Enterprise Business Center campus in Colorado.

About United Properties
United Properties, based in Minneapolis, specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail, office and industrial buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 50 office, medical, industrial and retail assets in Minnesota, Wisconsin, Illinois and Colorado. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.

Media Contacts
Jessie Timmerman

Martha Nevanen