Faison Enterprises is pleased to announce it has named Kris Fetter as its new president and CEO. Formerly senior managing director and head of development for Faison, Fetter succeeds Tom Webb, who retires after serving as the firm’s president and CEO since 2013. Webb will continue to serve on Faison’s board of directors.
Webb joined Faison after the death its founder, Henry Faison, in late 2012 and successfully led Faison’s transition from a development and operating company to a diversified real estate investment firm, selling its property management business in 2014 and spinning off its acquisitions and multifamily teams in 2016. Today Faison actively seeks real estate investments as a limited or joint venture partner in multifamily, retail, industrial, office and other projects in the Southeast and Mid-Atlantic. Prior to joining Faison, Webb served as president of Crescent Resources’ residential division for 11 years.
“Tom successfully guided our firm through a complicated, challenging transition, and we deeply appreciate his incredible leadership over the past five years,” said Art Fields, lead director of Faison’s board. “We look forward to building upon his hard work and insightful counsel as we continue to explore new and exciting investment opportunities.”
Fetter has over 20 years of real estate investment and development experience and joined Faison’s multifamily development team in 2011. He was responsible for investment analysis, project management, financial underwriting and development feasibility as the firm completed 10 projects totaling 2,800 units and valued at more than $500 million. He has also led the firm’s capital deployment into the self-storage sector and other very successful ventures.
Fetter began his career in Charlotte with a middle-market consulting firm that specialized in privately held companies in the Southeast. He later worked as a senior executive with Morningstar Properties, a vertically integrated developer, owner and operator of self-storage properties and marinas. He has experience in multiple asset classes, including self-storage, retail, industrial, multifamily and mixed-use development
“Our board is thrilled that Kris has accepted this new role,” said Webb. “With his extensive investment and development experience, proven leadership and insights, and track record of success, Kris is uniquely qualified to lead Faison in the years ahead as the team grows and manages its real estate portfolio. Our continued focus on real estate that makes a positive difference in every community in which we invest will be strengthened by Kris and the entire Faison team.”
Faison Enterprises, Inc. is a 50-year-old privately held investment firm with a diversified portfolio that includes retail, commercial and residential project holdings. Founded in 1988 by Henry Faison, who began his career in the 1960’s, Faison has developed or acquired more than $3 billion in real estate assets. As a non-stock company, Faison has a focus on charitable endeavors to improve the communities in which it does business and perpetuate the legacy of its founder. Over the past few years, Faison Enterprises and its employees have made over $500,000 in charitable contributions each year.