Chicago, Ill. (December 9, 2025) – Pine Tree, a leading U.S. retail real estate owner-operator, today announced the appointment of Devon Olson to its Board of Directors. Olson brings decades of institutional investment experience, deep governance expertise, and a distinguished record of leadership within the real estate investment community. He most recently served as Director of Real Estate at Utah Retirement Systems (URS), where for 40 years he helped oversee a $6 billion real estate portfolio for the state pension fund. Devon retired from URS in 2025.
Outside of URS, Olson has long contributed to advancing professional and investment standards across the real estate industry. He has earned both MAI and CRE designations and chaired the Utah Chapters of the Appraisal Institute and The Counselors of Real Estate. His national leadership includes service as Chairman of the Plan Sponsor Council, Board Secretary and Board Member of PREA, and membership on the Boards of NCREIF and the NCREIF/PREA Real Estate Information Standards Board.
Olson holds dual Bachelor’s degrees in Finance and Management from the University of Utah and an MBA from Westminster College. He has also served as an Adjunct Professor of Real Estate at Brigham Young University and has contributed to publications such as PREA Quarterly and The Counselor.
“Devon’s disciplined investment perspective and longstanding leadership across the real estate industry make him an exceptional addition to the Pine Tree Board,” said Peter Borzak, CEO, Pine Tree. “His depth of institutional real estate experience is matched by a humility and integrity that reflect our company’s values. Devon’s character and leadership style make him an exceptional cultural fit, and we look forward to the insight he will bring to our long-term strategy.”