Cornerstone Real Estate Advisors, a real estate investment advisory firm, has named Terri Herubin as portfolio manager of its Patriot fund, replacing Brian Murdy, who is leaving Cornerstone after 13 years to pursue an opportunity at a real estate brokerage firm.

The Patriot fund is an open-end US core real estate commingled fund with $1.7 billion in gross asset value. Its core investment strategy targets mainly “barrier markets,” offering potential for higher income growth and appreciation, the firm said. The fund is diversified by property type and location, and has over 70 investors.  

Herubin joins Cornerstone portfolio manager Denise Stake and the rest of the fund’s team. Before joining Cornerstone, she was principal, portfolio manager at The Townsend Group, as well as a member of its investment committee.

Cornerstone Real Estate Advisers has affiliate and subsidiary offices in the US, UK, Europe and Asia. The firm manages or services over $33 billion in assets, as of 31 December, 2011.