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Asheel Shah To Leave Kettler, Be Replaced By Former Cushman & Wakefield Exec

EJF Capital's Asheel Shah, then with Kettler, on a 2019 Bisnow event.

Kettler President and Chief Investment Officer Asheel Shah will leave the company later this month after more than a decade leading multifamily development for the McLean-based firm. 

The company announced Shah's departure Tuesday along with the hiring of Justin Glasgow, a former senior managing director at Cushman & Wakefield, to take over as chief investment officer. Kettler said Shah's last day would be Sept. 21 and did not say where he would be going. 

Shah told Bisnow he would be staying in the D.C. commercial real estate industry, but said he could not yet announce his new company. 

"I have had a wonderful tenure at Kettler and I’m appreciative of [founder and CEO] Bob [Kettler] and the entire team," Shah said. "After 11 years I’m ready to face a new challenge."

Kettler, which has developed over 20,000 multifamily units, is currently working on major projects such as The Boro in Tysons and Market Terminal in Northeast D.C. Kettler Chief Operating Officer Usha Chaudhary, who joined the company in 2016, will oversee the multifamily division in the short term. 

"Asheel has been a valuable member of our team who joined Kettler in 2007 at a time when real estate faced significant challenges," Chaudhary said in a release. "We are sorry to see him leave, but we are grateful for his service to our company and wish him well as he pursues future endeavors." 

As chief investment officer, Glasgow will report directly to Chaudhary. He was most recently head of real estate at Sunwater Capital Management, an investment firm founded by Stephany Yu, who has developed over 36M SF in China and the U.S. as head of Shanghai-based Greencourt Group.

Before joining Sunwater in February, Glasgow spent four years with Cushman & Wakefield, where he was senior managing director in the equity, debt and structured finance group.

"We are thrilled to have Justin on board," Chaudhary said. "The depth of his skills and real estate experience will greatly support our capital and growth strategies."