He praised Kroes and his staff for building "a remarkable legacy."

The foundation also hired Samantha Brucker, who has a background in environmental and energy affairs and water resources, as a research analyst and made Shawn Teigen a vice president and research director with responsibilities for the office's day-to-day management.

PECO Real Estate, Almanac Realty to form retail-focused company

Park City-based PECO Real Estate Partners said it has received a $300 million commitment from Almanac Realty Investors to form a retail-focused company called PREP Property Group.

The investment by New York City-based Almanac will enable PREP to grow its business of "repositioning undermanaged, capital-starved, poorly merchandised or distressed" malls and other commercial retail centers.

Michael Phillips will be president and CEO of PREP, which spun out of Phillips Edison and Co.'s former development and strategic divisions. It has expertise in every aspect of retail shopping center operation and management, added chief operating officer Sara Brennan.

Founded in 1981 as Rothschild Realty, Almanac said it has invested $4.4 billion in 39 companies in North America.

Utopia Fiber moves to Murray, will add interactive demo space

The Utah Telecommunication Open Infrastructure Agency, better known as Utopia Fiber, has moved its offices to 5858 S. 900 East in Murray. This summer, the fiber optic network will add an interactive demo space to showcase the bandwidth capabilities of its system, said Executive Director Robert Timmerman.

Link:

Briefs: Utah Foundation, PECO, Utopia, Inc., PRMI, rural housing - Salt Lake Tribune