The activist group also identified three Associated Estates board members it would like to oust in favor of its own board nominees. Stamford, Conn.-based Land and Buildings and Scott Sellers, former CEO of the Archstone-Smith Trust, said they intend to nominate to the board Jonathan Litt, founder and chief investment officer of Land and Buildings; Sellers; and Charles Elson, a University of Delaware professor, lawyer and corporate governance expert for the board. The Land and Buildings group also narrowed its focus to ousting three longtime directors of Associated Estates that the activist investors say "in our view have demonstrated an inability to effectively oversee management, resulting in significant destruction of shareholder value."