SAN FRANCISCO, Nov. 7—At its REITworld 2018 annual conference today, Nareit presented its 2018 Industry Leadership Award to David J. Neithercut, CEO of Equity Residential, and its 2018 Industry Achievement Award to Z. Jamie Behar, who was Managing Director, Real Estate and Alternative Investments at General Motors Investment Management Corp.
Nareit presents its Industry Leadership Award annually to a REIT executive who has made a significant and lasting contribution to the growth and betterment of the industry. The award is presented in memory of Edward H. Linde, the late CEO of Boston Properties.
In announcing the winner of this year’s award, Nareit’s 2019 Chair Sandeep Mathrani, CEO, Brookfield Properties Retail and Vice Chairman, Brookfield Properties, said, “David served as Nareit’s Chair in 2015, and he has consistently been a strong advocate for our industry. He was active in taking our industry’s positions to Members of Congress and communicating the value that REITs bring to investors, our communities and our economy.
“He also devoted his time and experience to reaching out to pension plan investment managers to build their understanding of the REIT investment proposition,” Mathrani said.
Mathrani noted that Neithercut, who has served as Equity Residential’s CEO since 2006 and is retiring at the end of this year, was instrumental in building the company into the REIT industry leader it is today – an S&P 500 company with more than 300 properties and 80,000 apartment units in gateway markets on the east and west coasts.
The Nareit Industry Achievement Award presented to Behar is given annually to professionals serving the REIT Industry whose acumen and integrity have helped heighten awareness and understanding of the value of REITs and publicly traded real estate. The award is presented in memory of E. Lawrence Miller, the former CEO of one of the industry’s first REITs, Bradley Real Estate Trust.
In presenting the award, Thomas J. Baltimore, Jr., Chairman, President and CEO of Park Hotels and Resorts, and Nareit’s 2018 Chair, said that during Behar’s 30-year career at General Motors Investment Management Corporation, she managed a $12 billion portfolio of public and private assets and “she was involved in everything from asset management to acquisitions and IPOs.”
“She played a key role in the Taubman IPO in 1992 – the industry’s first UPREIT, which provided a road map many other real estate companies would follow, launching the Modern REIT Era,” Baltimore said.
“As board Chair of the Pension Real Estate Association,” he added, “Jamie was a strong advocate for pension plans investing in both public and private real estate, and she has helped build bridges between the public and private real estate worlds.”