EDENS, one of the nation's largest owners and developers of community shopping centers, announced today the appointment of Jodie W. McLean as Chief Executive Officer as Terry S. Brown steps down as Chairman and Chief Executive Officer of the Company effective June 30, 2015. Mr. Brown became CEO and joined the Company's Board of Directors on May 15, 2002. He became Chairman of the Board of Directors in 2013.

"EDENS is clearly established as one of the most prolific owners and developers of shopping centers in the United States", said Mr. Brown. "It is thus with great pride that I transition leadership to Jodie W. McLean, just as Joe Edens did to me 13 years ago. EDENS' sense of purpose in enriching communities through its work should sustain and propel it for generations to come."

"The board is pleased to announce Jodie W. McLean as our new chief executive officer. Jodie has been a key member of the EDENS leadership team for 18 years and has emerged as a widely respected executive in the industry during an evolutionary period of the business. We are very confident that the combination of Jodie's leadership, the outstanding employees of EDENS, and its high quality portfolio of shopping centers will ensure that the Company's best days of performance are yet to come," said Benjamin Gifford, Chief Investment Officer, Real Estate Americas, J.P. Morgan Asset Management - Global Real Assets.