Financial Services >> CEO Interviews >> April 20, 1998
WILLIAM NEWMAN a veteran real estate professional, William Newman is
Chairman of the Board and Chief Executive Officer of New Plan Realty
Trust, New York City, a New York Stock Exchange-listed Real Estate
Investment Trust and one of the largest of the nation's REITs. He is a
former two-term chairman of NAREIT, the industry organization that
represents the nation's real estate investment trusts. In 1996 he was
honored by that organization for his pioneering REIT industry
leadership. Named one of the most distinguished alumni of Baruch College
of the City University of New York, Mr. Newman has undertaken a leading
role in forming the University's and New York City's first undergraduate
school of real estate, named The Steven L. Newman Institute. The school,
with a distinguished board of real estate industry leaders, accepted its
first students last Fall (1997). Bill Newman was born in New York City
and educated in city schools. He majored in accounting at the College of
the City of New York, later renamed Baruch College. Upon graduation, he
became a Certified Public Accountant and a partner in his father's
accounting and real estate syndication firm, a predecessor company of
New Plan Realty Trust. Under William Newman's direction, New Plan
Management Co. became a public company in 1962, and he was named its
first president. Mr. Newman was also appointed chairman in 1971. In 1972
the company assumed its present name and structure as a Real Estate
Investment Trust with William Newman serving as president and chairman.
In 1992, New Plan became the nation's first publicly-traded billion
dollar REIT. Today, New Plan continues as one of the largest of the
nation's publicly-traded Real Estate Investment Trusts, with a total
market capitalization of over $2 billion. Mr. Newman is a member of the
Chief Executives Organization, and the Metropolitan Presidents
Organization, "graduate" groups of the Young Presidents Organization of
which he was a member. On four separate occasions in recent years, he
has been awarded the Wall Street Transcript's gold, silver and bronze
medals as one of the best chief executives in the real estate industry.
During the Administration of President George Bush, he served as a
member of the President's Real Estate Advisory Committee. During World
War II, Mr. Newman served two-and-a-half years with the US Navy. He
completed his service with the rank of Lieutenant, j.g. Profile
and what are the challenges and opportunities for the company today?
Mr. Newman: New Plan has been around now for
