Combined Properties Announces Promotion of John Hendrickson to President

Bethesda, Maryland — March 1, 2026

Combined Properties, Incorporated, a privately held real estate investment and development firm founded in 1984, today announced the promotion of John Hendrickson to President, effective March 1, 2026.

Hendrickson joined Combined Properties in August 2025 as Chief Operating Officer as part of a long-term leadership succession plan. Since then he has driven key operational initiatives and implemented new technology solutions that are already enhancing performance across the organization.

John brings extensive experience in real estate development, portfolio operations, and executive management. He has held senior leadership roles at several industry-leading firms, including RPT Realty, Federal Realty, and Grosvenor. Most recently, he served for six years as President of the Midwest Division at Brixmor Property Group, where he led a large, multi-state portfolio and guided a high-performing team through strategic growth initiatives.

His depth of expertise across retail, residential, and mixed-use assets, alongside his proven leadership in managing complex real estate portfolios, positions Combined Properties for continued strength, diversification, and long-term value creation.

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Known for his people-forward and compassionate leadership style, Hendrickson has focused on strengthening alignment across teams while reinforcing the company’s commitment to disciplined execution. As President, he will guide strategic initiatives designed to strengthen Combined’s highest-performing properties, pursue thoughtful diversification opportunities, and build on the firm’s four-decade foundation.

“I’m honored to step into the role of President at Combined Properties,” said Hendrickson. “We have an exceptional team, a resilient portfolio, and meaningful opportunity ahead. We’re going to continue building on our strong foundation and delivering long-term value for our assets, tenants, communities, and stakeholders.”

Steven Gothelf, who joined Combined in 2002 as Executive Vice President & Chief Financial Officer, will transition into the role of Executive Vice President – Strategic Advisor/Project Manager through the remainder of 2026, ahead of his retirement at year-end.

During his tenure, Gothelf oversaw the Accounting, Finance, Property Management, Marketing, and Capital Markets departments as CFO before assuming the role of President during the COVID-19 pandemic. His steady leadership helped guide the company through a period of unprecedented market disruption while leading a strategic organizational restructuring that strengthened internal alignment, and positioned the firm for long-term stability and growth beyond the pandemic.

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Based now in Bethesda, MD and founded in 1984 by Chairman Ronald S. Haft, Combined Properties has built a diversified real estate platform over more than four decades now totaling nearly $2 billion of retail, multifamily and mixed-use properties mostly located in the Washington, DC MSA. With Hendrickson’s promotion, he becomes one of a select group of leaders entrusted to steward the company’s legacy, reflecting its deliberate approach to leadership continuity and long-term value creation.