Michael H. McNaughton
Westfield World Trade Center
McNaughton serves as SVP of US Development for Westfield, based in New York City. Recruited in 2015 to deliver the World Trade Center in Lower Manhattan, his role oversees all development activity from Chicago eastward and entails all facets of driving expansion, intensification and the incorporation of mixed use elements to Westfield’s existing portfolio while also identifying new high density urban opportunities and larger master plan and mixed use projects. Lead political liaison for community engagement and incentives and also cultivation of JV partnerships and new development.
In 2012, McNaughton joined Boston based WS Development, an 86 asset, 21+ million square foot privately held Boston private equity firm as SVP overseeing all operating groups within the organization (110 of the 150 person company). McNaughton participated in expanding the platform beyond a 30+ year history as a New England based portfolio to acquire well positioned assets in Madison, WI., Jackson, MS., Buffalo NY, Palm Beach, FL. and Tampa, Florida.
Previously, McNaughton (as EVP of General Growth Properties) was the founder and Chief Operating Officer for NY based Rouse Properties, (NYSE: RSE) taking the organization public in January, 2012. From initial concept development and GGP Board presentation in Q3, 2010 to the formation of Rouse Properties, McNaughton personally guided the selection process of assets, developed team structure and composition, debt facilities, SEC filings and operational startup/strategic planning for virtually all aspects of forming the 250+ employee venture. At IPO, RSE was the 8th largest mall REIT with 31 assets totaling over 21 million square feet.
McNaughton was a member of the four person “Road Show” team in Q4-2010 to recapitalize GGP to facilitate emergence from bankruptcy. (Team was – Brookfield CEO, GGP CFO, GGP incoming CEO/Jan 2011 and McNaughton)The effort was 4x oversubscribed and raised in excess of $2.6 Billion.
McNaughton joined GGP in 2000. At the time of resignation (to take Rouse to IPO as COO), McNaughton was Executive Vice President of General Growth Properties overseeing in excess of 200 million square feet across all asset classes for the company with a team over 1,500 nationally. During a 12+ year tenure, McNaughton held various roles including A) SVP, Mixed Use; Department Stores, Big Box, Land, Hotel and Restaurants, B) SVP of Development, C) SVP of Asset Management for the east including a 4 year process formulating and executing the Natick Mall mixed use expansion D) VP of Leasing for the east coast, a role encompassing all deal production and strategic initiatives from Louisiana, east to Florida and northward to Maine.
Prior to joining GGP, McNaughton was a founding Partner of Coro Realty Advisors, LLC. Coro is a privately held Atlanta based overseas capital investment advisory. From 4 person startup the firm grew to 27 under McNaughton. In addition to operating the company portfolio, Federal Realty, Madison Marquette, JPI, Archstone, General Growth Properties and others retained McNaughton for various development and strategic consulting assignments throughout the United States.
McNaughton served as a charter member of the NAIOP Mixed Use Development forum for the southeast and has been a frequent lector for the MIT Center for Real Estate, American University Kogod School of Business and panelist at the University of Wisconsin Graaskamp Center annual forum. An active ULI member and contributor, currently serves as a board member for the Entertainment Development committee. McNaughton served as a design participant for the World Trade Center/Lower Manhattan redevelopment planning committee in 2004 and also a contributing author of “Rethinking the Mall”, a ULI publication. Additionally, McNaughton has presented at various ULI and ICSC sponsored national conferences regarding mall, open air and mixed use development and future trends in the industry and has served as an instructor for the ICSC University. McNaughton currently serves as a Board Member of the Lower Manhattan Cultural Council (LMCC).
McNaughton holds the RPA, SCLS, CRX and CCIM designations.