Executive Career Moves and Board Changes in the REIT Industry

Strategic Insights -

Recent executive career moves, board changes, and other notable individual achievements within the REIT and publicly listed real estate market have been highlighted by the National Association of Real Estate Investment Trusts (NAREIT). Blackstone Real Estate Income Trust, Inc. (BREIT) announced that Wesley LePatner will become the new CEO as of January 1, 2025, succeeding Frank Cohen, who will remain chairman of BREIT's board of directors after nearly 30 years of service. Other notable changes include Meghan Baivier's resignation as president and COO of Easterly Government Properties, Inc., and Katharine Cornell Gorka's election to the 2027 class of directors of Gladstone Land Corp.

Key Takeaways:

  • Wesley LePatner will become the new CEO of Blackstone Real Estate Income Trust, Inc. (BREIT) as of January 1, 2025, succeeding Frank Cohen.
  • Frank Cohen will remain chairman of BREIT's board of directors after nearly 30 years of service.
  • Meghan Baivier resigned as president and COO of Easterly Government Properties, Inc. effective September 13.
  • Katharine Cornell Gorka was elected to the 2027 class of directors of Gladstone Land Corp.
  • Charley Freericks was appointed president of the Phoenix region of Howard Hughes Holdings Inc., leading residential and commercial development, leasing, and operations of Teravalis.
  • Alberto Chretin stepped down as CEO of Terrafina, a leading Mexican industrial REIT, but will remain as chairman of the technical committee.
  • Ted Eliopoulos joined Prologis, Inc. as managing director, strategic capital, having previously served as managing director and senior advisor of Calvert Research and Management.
  • T.C. Sheppard was promoted to senior vice president of sales and consumer finance at UMH Properties, Inc.
  • John Good was appointed CEO of VineBrook Homes Trust, Inc., having previously served as chairman and CEO of Jernigan Capital, Inc.
  • Paul Richards was appointed VineBrook's CFO, assistant secretary, and treasurer.

Statistics:

  • BREIT's new CEO, Wesley LePatner, will take over on January 1, 2025.
  • Frank Cohen's nearly 30 years of service as chairman of BREIT's board of directors.
  • Meghan Baivier served as president and COO of Easterly Government Properties, Inc. for an unknown period before resigning on September 13.
  • Katharine Cornell Gorka was elected to the 2027 class of directors of Gladstone Land Corp.
  • Charley Freericks has 30 years of experience in the Arizona real estate market.
  • Alberto Chretin will remain as chairman of the technical committee of Terrafina.
  • Ted Eliopoulos has over 20 years of experience in the real estate industry.
  • T.C. Sheppard has been with UMH Properties, Inc. since 2013.
  • John Good helped grow Jernigan Capital, Inc. to approximately $1 billion in enterprise value before being acquired by affiliates of NexPoint Advisors, L.P. in 2020.

Sources:

  • National Association of Real Estate Investment Trusts (NAREIT)