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OUR TEAM
The development partners
on the CRT team are Richard D. Searles, David Russell and
David S. Searles, Jr.
Richard D. Searles
CRT President
Rick Searles is co-founder and CEO of CRT Realty &
Development Services, Inc. Since August 1995, Rick has been
active in the senior housing industry working with several
of the country’s leading providers of senior housing and
assisted living. Rick has been a speaker at local and
national conferences. Rick began working with Sunrise Senior
Living, Inc. in its Southeast expansion in 1995. Prior to
his senior housing development activities, Rick Searles was
the Project Manager for CRT Trust Advisor, Inc. due
diligence contract with Resolution Trust Corporation, an
instrumentality of the United States of America. This
assignment was to analyze, value and prepare for sale over
$1.6 billion book value of assets. Rick Searles is versed in
all senior housing aspects such as design, development
consulting, specifics of operations, legislative actions to
promote the industry, licensing and permitting issues. Also,
he oversees preparation of market feasibility studies,
competition analysis, caregiver criteria, projections and
business plans. As a self-employed general contractor from
1976 to 1991, Mr. Searles built over 150 custom homes in the
North Atlanta area with total sales exceeding $40 million.
He specialized in large and complicated homes and
challenging land tracts.
David Russell
Vice President-Development
David Russell joined CRT after working for Sunrise Senior
Living, the nation’s largest operator and developer of
independent and assisted living communities for the elderly.
As a Development Officer for Sunrise, David successfully
contributed to the development of 10 projects in Georgia,
North Carolina, Virginia, Louisiana, and California with
project costs totaling over $130 million. In addition to
Dave Russell’s work in the senior housing arena, he has
worked as a commercial real estate broker in Silicon Valley,
where he was responsible for over 100 transactions involving
more than 750,000 square feet and $50 million in
consideration. David graduated from Tulane University in
1995.
David S. Searles, Jr.
David Searles is co-founder of Chase Properties, CRT Trust
and affiliated companies. David earned his MBA from Harvard
Business School in 1970. As an owner, manager or broker for
a variety of different types of real estate, David has
extensive experience in coordinating and implementing
decision-making processes. He began his career in real
estate in 1971 following a year as a junior faculty member
at Harvard Business School. He was Vice President-Finance of
United Resources, Inc. and its subsidiary Country Club of
Miami Corporation, where he was part of the senior
management team for a 3,722-acre development in Miami along
with a 1,800-acre land assemblage southwest of Orlando.
David moved to Atlanta to manage a 625-acre golf course
planned unit development on behalf of its owners, the
Federal Deposit Insurance Corporation (FDIC) and a group of
14 banks. He was a Director of Tucker Federal Savings and
Loan Association, a $320 million thrift institution, and its
parent holding company, Eagle Bancshares, Inc. (now part of
RBC Centura Bank).
Philip E.
Searles
Project Manager
Philip joined CRT in 2008 after
working as a senior auditor for BDO Seidmen, LLP for two
years. During his time with BDO Philip led engagements of
public companies in the telecommunications and financial
services industries. Philip also led engagements of private
companies in the real estate and distribution industries.
Prior to his employ with BDO he worked with the Reznick
Group and an auditor of affordable housing properties,
routinely compiling financials from both construction and
operating general ledgers and booking joint assets such as
property, plant and
equipment. Philip also worked with Georgia
Pacific for over two years in the Corporate Credit as well
as Internal Audit of the Building Products division. Philip
graduated from the University of Alabama in 2002. He is also
serving in the capacity of Chief Financial Officer for a
non-profit organization, Beverly J Searles Foundation, so
named after his grandmother. The Beverly J Searles
Foundation (BJS) provides services for seniors aged 55 and
older and is headquartered in Sandy Springs, GA.
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