Pharr has brought on a new executive to lead its strategy in real estate and investments.
The McAdenville-based company has hired Jessica Trombold as executive vice president of investments and operations. Trombold previously spent six years at Nuveen's Charlotte office in roles focused on real estate transactions, mixed-use projects, asset management, development and capital raises.
Why it matters: The hire represents Pharr's further evolution away from the yarn business. The company now has three businesses under its ownership: investment arm Greenleaves Capital, real estate business Belmont Land and Strand Hospitality Services.
What they're saying: “This role is vital as we continue to grow and expand across new and existing industries via an intentional, strategic approach, and we look forward to the contributions Jess will help us to pioneer," Pharr CEO Bill Carstarphen said.
Pharr's commercial real estate portfolio has included several adaptive-reuse projects of its former mill buildings in McAdenville.
That includes the Dynamo 31 project, which spans about 20,000 square feet of adaptive-reuse office space and was completed in 2022.
Pharr's holdings also encompass the former Imperial Mill and Crescent Mill sites in Belmont, according to its website.
Pharr, which has been based in McAdenville for over 80 years, sold its yarn businesses in 2020 as it exited the textile industry.
Those moves included the sale of Pharr's High Performance yarn business to Coats Group.
Pharr also sold Pharr Fibers & Yarns and Phenix Flooring to Mannington Mills.
Belmont Land sold a former Pharr Yarns plant in York County last year to OneH2 Inc., a hydrogen fuel company.
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