Feb 15, 2008. /Lesprom.com/. Forestar Real Estate Group Inc. has announced the election of Michael E. Dougherty to the Company’s Board of Directors. Michael E. Dougherty, is the Founder and Chairman of Dougherty Financial Group LLC. With the election of Michael Dougherty, Forestar Real Estate Group’s Board consists of 11 members. The membership of all committees of the Board consists entirely of independent directors. Forestar Real Estate Group Inc. operates in 2 business segments: real estate and natural resources. The real estate segment owns directly or through ventures about 373 thousand acres of real estate located in 10 states and 13 markets in the U.S. The natural resources segment sells wood fiber from its land primarily located in Georgia.