Each month, Nareit highlights recent executive career moves, board changes, and other notable individual achievements and developments within the REIT and publicly listed real estate market.
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Blackstone (NYSE: BX) reported several senior leadership updates within its real estate business. Katie Keenan has been appointed CEO and a director of Blackstone Real Estate Income Trust, Inc. (BREIT) and global head of the Core+ real estate business, with immediate effect. She succeeds Wesley LePatner, who served in both roles until her tragic passing on July 28.
Keenan has held numerous leadership positions since joining the firm in 2012, including global co-chief investment officer of Blackstone Real Estate Debt Strategies (BREDS) and CEO of Blackstone Mortgage Trust, Inc. (NYSE: BXMT).
Effective Nov. 10, Zaneta Koplewicz, currently BREIT head of shareholder relations, has been named co-president and director of BREIT with current co-president, Blackstone veteran A.J. Agarwal. BREIT Interim CEO Rob Harper will resume his long-time role as BREIT head of asset management at that time. Tim Johnson has been appointed CEO of BXMT, succeeding Keenan. Austin Peña, currently executive vice president, investments of BXMT, has been named president and director.
CareTrust REIT, Inc. (NYSE: CTRE) said William Wagner, the company’s CFO and treasurer, plans to retire in early 2026. Derek Bunker, who currently serves as the REIT’s senior vice president of strategy and investor relations, is expected to succeed Wagner as CFO effective Jan.1, 2026. “Bill has been an instrumental leader from day one, guiding our finance and capital market efforts through more than a decade of growth and transformation,” said Dave Sedgwick, CareTrust’s president and CEO.
Empire State Realty Trust, Inc. (NYSE: ESRT) said in an SEC filing that it has entered into an agreement in which Thomas Durels, executive vice president, real estate, has begun the transition of his duties to two new co-heads of real estate: Ryan Kass, chief revenue officer of real estate and director of leasing, and Jackie Renton, COO of real estate. Kass and Renton will each report to the company’s President, Christina Chiu, and the company’s Chairman & CEO, Anthony Malkin. Durels will remain an executive officer through June 30, 2026, and will serve as a consultant through June 30, 2027, unless his employment is terminated earlier in accordance with the transition agreement, the REIT said.
Hudson Pacific Properties, Inc. (NYSE: HPP) announced the election of T. Ritson Ferguson to the company’s board of directors, and the retirement of Director Mark Linehan, both effective Sept. 11. Ferguson is an Independent Investment Committee Member of CBRE Investment Management (CBREIM) Listed Real Assets.
Postal Realty Trust, Inc. (NYSE: PSTL) announced the appointment of Steve Bakke as executive vice president, CFO and the company’s principal financial officer effective on or about Nov. 5. Bakke will join Postal Realty Trust from Realty Income Corp. (NYSE: O), where he most recently served as senior vice president, corporate finance.
RLJ Lodging Trust (NYSE: RLJ) named Nikhil Bhalla as CFO. Since joining the company in 2015, he has held a variety of leadership positions, most recently serving as senior vice president of finance and treasurer. "Nikhil has made many contributions to the success of RLJ and has been an invaluable member of our leadership team for over a decade, consistently demonstrating strategic insight, financial acumen, and operational excellence, making him the ideal choice for CFO," said Leslie Hale, president and CEO.
UDR, Inc. (NYSE: UDR) announced that Joe Fisher stepped down from his positions as president and chief investment officer. As part of the separation agreement, he has agreed to provide transition assistance through Dec. 31. Fisher had served as UDR’s president since 2022 and chief investment officer since January, having previously served as CFO between 2017 and 2025. In connection with Fisher’s departure, the board of directors appointed Tom Toomey as the company’s president, in addition to his roles as chairman and CEO.
UMH Properties, Inc. (NYSE: UMH; TASE: UMH) said its board of directors appointed Todd Clark as a director for the term of Class I expiring in 2028. Clark is the dean of Widener University Delaware Law School.