Chicago — Michael Hales is set to depart his role as president of CA Student Living (CASL). Hales has served in a number of positions within the Chicago-based firm, including chief financial officer and chief operating officer.
The company’s board of directors has opened up an executive search to identify a presidential candidate, with Sean Spellman and Thierry Keable to act as interim presidents until the decision has been made. Spellman and Keable will be working alongside Hales and members of the board to ensure a seamless transition over the next few months. In addition to these appointments, David Rose has been promoted to the role of chief investment officer.
“As CASL continues on its impressive growth trajectory, it is critical that we have a strong, passionate and energetic leadership team to guide the ship,” says Tom Scott, chief executive officer and board chair for CASL.
“We are lucky to have Sean and Thierry, two strategic leaders with complementary expertise, stepping in to support our high caliber team,” he continues. “Partnering with David Rose and the rest of the leadership team, we continue to be well positioned to execute on our mission and capitalize on the growing opportunity set for all aspects of the business — investments, development and property management.”
Over the past 12 months, the company has delivered nine student housing communities with $1.5 billion worth of active construction projects expected for delivery by fall 2023. CASL’s portfolio was 95 percent leased ahead of the start of the 2021-2022 academic year.