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Waterton, a Chicago-based national real estate investor and operator, hired John Gray as chief investment officer to replace Rick Hurd, who is set to retire from his role as managing partner and investment manager. 

Hurd leaves the company after more than 40 years in real estate investment and 12 years at Waterton. He led the firm’s acquisitions and capital markets teams in the acquisition of approximately $10B in multifamily and more than $1B in debt investments.