SM-Based Watt Companies Gets New President

Watt Companies, which is headquarted in Santa Monica, announced a new president on Monday. Nadine Watt, who is currently serving as vice president, will assume the role July 1.

Watt Companies offers real estate services to U.S. investors and partners, homebuyers and commercial customers. It's one of the biggest companies of its kind.

Watt will be directing the company away from its focus on traditional property management and leasing, and expanding its portfolio by moving it toward acquiring and developing real estate assets. There will also be an emphasis on pursuing entrepreneurial joint ventures.

“The real estate market has changed dramatically over the past few years, and the best way to adapt to the new landscape is to shift our focus to investment, joint ventures and acquisition activities,” Chairman Scott Watt said in a statement. “We are thrilled to see Nadine make the logical progression to lead the company through this exciting next phase. Watt Companies prides itself on being a family-run organization, and Nadine will do a wonderful job carrying out the vision of my father and her grandfather, Ray Watt.”

President Jim Maginn, who has had the position since 1995, will head up a new investment division focusing on acquiring retail and multifamily assets.

Nadine Watt has helped develop 300-plus apartments units, in addition to two shopping centers. She's also overseen management and operations at Watt Plaza in Century City.

“My grandfather Ray Watt taught me more than anyone can imagine,” she said. “I will work hard to protect his legacy and carry on the business with the same kind of vision and care he modeled during his seven-decade career.”