New Trustee

EDGAR: 8-K

The trustees of Texas Pacific Land Trust (the “Trust”) have nominated Preston Young for election as a trustee to fill the vacancy created by the resignation of Maurice Meyer III. Mr. Young is a Regional Managing Partner for Stream Realty Partners in Houston, Texas. In accordance with the Declaration of Trust that governs the Trust, the Trust will call a special meeting of holders of sub-share certificates of the Trust, to be held in Dallas, Texas, on May 8, 2019. The Trust is in the process of preparing proxy materials for the special meeting, which will be mailed to holders of record as of March 28, 2019.

Meet Preston

Preston Young serves as Regional Managing Partner for Stream where he jointly spearheads the firm’s strategic initiatives across its existing platform and markets identified for future expansion. In addition, he oversees the firm’s initiatives concerning asset management, acquisition and development activities for its principal and strategic clients.

Mr. Young also leads the firm’s Houston office, where the service and principal portfolio exceeds 42.0 million square feet, thereby positioning Stream as one of Houston’s leading commercial real estate organizations. During his tenure, Stream has consistently been ranked as one of the “Best Places to Work” by the Houston Business Journal and “Top Workplaces” by the Houston Chronicle.

Mr. Young serves as Chairman of the Board for the St. John Paul II Foundation for Life and Family. Additionally, he is a member of the Board of Trustees for the Free Enterprise Institute and is on the Board of Directors for both the Business Ethics Forum and Catholic Charities of the Archdiocese of Galveston-Houston. At Texas A&M University, Mr. Young serves as an Advisory Board Member for Mays Business School and is a member of the 12th Man Foundation’s Champions Council.

Before joining Stream, Mr. Young served in the capital markets division at Trammell Crow Company.

That happened fast.  Guessing he was waiting in the wings.  Go get ’em Preston!

10 thoughts on “New Trustee

  1. Looks like he’s taken Stream from 2 people to 150 people in 12 years. Pretty impressive. Might be exactly the type of person that we need. Young but experienced in a skill (org growth) that is will be very useful to TPL.

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  2. I think he is an excellent pick. He is not from the Oil and Gas industry, so has not learned their bad habits. With a Houston CRE career, he is used to working with a lot of energy companies. Am sure he is no stranger to deals with 7 and 8 zeros.

    He has deep roots in Texas, and seems driven based on his track record at Stream. His skills are needed for the type of future TPL has to best monetize their assets. He can grow a team of people in a new organization. Am impressed with how he has grown the Houston operation.

    Also, he probably has a high enough income to be able to buy more than a 100 shares of TPL, and the brains to understand why sending that message is important.

    And back to my “coiled spring” analogy….the ratchet just tightened the spring further. So many things are strongly positive for TPL. The next few years are going to be very interesting!

    http://streamrealty.com/get-to-know-houston-business-journals-40-under-40-honoree-preston-young/

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  3. On the surface this nomination scares me! Read his bio. He is young and very aggressive. Stock buy backs will slow down or end.

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