INDIANAPOLIS – Ambrose Property Group has tapped into some of Duke Realty Corporation’s top-tier talent following the company’s acquisition by international industrial real estate firm Prologis, Inc. (NYSE: PLD).
Since the Duke-Prologis transaction closed in October of 2022, five former Duke Realty employees have joined the firm, including two former senior vice presidents and one vice president. The Ambrose additions include Stacey Anderson as senior vice president and chief financial officer, Blaine Paul as vice president of land development and Dave Loudenslager as vice president of development, Florida market officer.
The recent additions to the Ambrose team follow two years of growth and achievement of important milestones for Ambrose, including doubling its staff size, exceeding $1 billion in development starts and project starts in Denver, South Florida, Indianapolis, Texas, Kentucky, Oklahoma, Cincinnati and Columbus, Ohio.
“Duke Realty was one of the largest and most impactful industrial real estate companies in the United States, and we have tremendous respect for what the Duke Realty team accomplished over the course of the company’s history,” said Jason Sturman, Ambrose president and chief investment officer and former Duke Realty executive. “The opportunity to add this level of industry-leading talent to our team was one that will be pivotal as Ambrose continues to grow and expand its reach in providing cutting-edge real estate solutions.”
Anderson joins Ambrose after more than 15 years with Duke Realty, where she most recently served as senior vice president, corporate controller. As Ambrose senior vice president and CFO, she leads the company’s accounting and business operations, supports growth in Ambrose’s fund business, is advancing organizational infrastructure and streamlining processes and procedures.
Paul spent the last 18 years with Duke Realty in various development and leadership roles, most recently as senior vice president, development services. As vice president of land development at Ambrose, he focuses on land development in the Midwest and mountain states regions, with an initial emphasis on complex projects in Indianapolis and Denver.
Loudenslager most recently served as Duke Realty’s vice president of leasing and development in South Florida. Prior to Loudenslager’s work in leasing, he worked in preconstruction and project management for Duke Realty’s speculative projects in Florida. He now oversees leasing, land acquisitions and market coverage for Ambrose’s Florida business, with an emphasis on central, south and southwest Florida.
Other former Duke Realty alumni who have joined Ambrose since the Prologis acquisition include:
“Each person is highly respected in our industry, and we’re thrilled to have them join the Ambrose team,” Sturman said. “The timing coincides perfectly as we’ve scaled our operations nationally and continue expanding Ambrose’s reach.”
Duke Realty was founded in 1972 and became a prolific real estate company in the United States throughout its 50-year tenure. In 2022, it owned and operated approximately 167 million rentable square feet of industrial assets in 19 major logistics markets and was the largest domestic industrial REIT in the United States. It was announced in June 2022 that Duke Realty was being acquired by San Francisco-based Prologis. The transaction closed in October in a $23 billion all-stock deal.
Ambrose is an industrial, logistics and e-commerce real estate developer and investor that was founded by former Duke Realty leader Aasif Bade. Bade founded Ambrose in the depth of the 2008 Global Financial Crisis after serving as a senior leasing representative at Duke Realty.
“I share many connections with Duke Realty and its people, so adding Duke Realty alumni to the Ambrose team feels like a natural progression,” Bade said. “I’m excited by the talent and momentum we have at Ambrose as we continue building our own legacy.”
Ambrose’s portfolio includes new industrial, logistics and e-commerce projects in Denver, South Florida, Indianapolis, Texas, Kentucky, Oklahoma, Cincinnati and Columbus, Ohio.