Cornerstone Names New Prez

S. J. "Jay" Olander Jr. has been named president of Cornerstone Realty Income Trust, Richmond, Va., replacing Glade M. Knight, who will remain chairman and chief executive officer of the real estate investment trust.Mr. Olander, 49, is a member of the REIT's board of directors and previously served as executive vice president, chief financial officer, and president of capital markets, Cornerstone said. He will continue to serve as CFO. The REIT can be found online at http://www.cornerstonereit.com.