Fox to Become Haagen Properties CEO

Veteran Los Angeles real estate executive Edward D. “Ned” Fox Jr., who has served as interim president and chief executive at Alexander Haagen Properties Inc. since the namesake founder stepped down in November, will be appointed to that post today. Fox, 50, a former president and CEO of local commercial real estate developer Maguire Partners, also remains a senior partner in CommonWealth Partners, a real estate firm he and six other former Maguire officers formed in 1996. Haagen, which is organized as a real estate investment trust, recently received a $235-million investment from an affiliate of investment banking firm Lazard Freres & Co., which has also invested substantially in CommonWealth. Haagen, headquartered in Manhattan Beach, owns 47 West Coast shopping centers totaling about 9.5 million square feet of store space. Funds from operations for the fiscal fourth quarter totaled $9.5 million, or 33 cents a diluted share, compared to $9.1 million, or 35 cents, a year ago.