RREEF appoints 2 executives

Richard B. Putnam was hired as a managing director at RREEF North America, and Stephen W. Lekki was hired as a director in portfolio management, a spokesman said. Both are new positions. Mr. Putnam will be responsible for acquiring office, industrial and retail properties in California’s Los Angeles and Orange counties; he was executive director and member of the capital markets group concentrating on investment sales at Cushman & Wakefield. Mr. Lekki will responsible for managing the $473 million CalWest industrial portfolio, a joint venture with the $259.5 billion California Public Employees’ Retirement System; he was vice president and portfolio manager at AMB Property Corp. RREEF spokesman John T. Gallagher did not respond to numerous queries asking who Mr. Lekki is replacing, but he did say Mr. Lekki was part of a team managing the CalWest portfolio. CalPERS spokesman Clark McKinley noted that the CalWest management team has had some turnover.