The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. A handful of recent transactions shows Blackstone's commitment to rental housing. . Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. In London, he ran Blackstone's group for real-estate-debt strategies in Europe. BREIT has paid 62 straight monthly dividends at roughly a 4% annual yield, much of which is tax deferred and classified as return of capital. In February, Werner, a cohead of Americas acquisitions for Blackstone Real Estate, led a $5.8 billion deal in which Blackstone Real Estate Income Trust acquired Preferred Apartment Communities. Since joining the firm, he's been involved in more than $100 billion of real-estate acquisitions and initiatives. He is a senior managing director with Blackstone in New York and the Global Head of Core+ Real Estate and a member of the Blackstone Real Estate investment committee. Our goal from the start was to bring Blackstones institutional real estate platform to the individual investor so ultimately, the biggest success factor has been the performance we have produced for those investors. Nash told his alma mater, New York University's Stern School of Business, that this was the perfect time to strike in commercial real estate. "Everyone has a good pitch, but the real question is how valuable and developed the solution is," Fitzpatrick said. Since its founding in 2017, Blackstone Real Estate Income Trust has grown into a $116 billion lynchpin of Blackstone's sprawling real-estate investment platform. ESG is definitely a global theme. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. And one of its own, Jon Gray, has settled into his role as the president and chief operating officer of the firm, running firmwide meetings and seeking to connect the division with other parts of the company. Communication is key in everything McCarthy does as a cohead of Blackstone's sprawling real-estate portfolio. Frank Cohen, senior managing director of Blackstone's real estate group, bought a minority interest in the team previously held by the Louise Dieterle Nippert Trust. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, French tycoon Niel hikes stake in Millicom to 19.6%, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon. For example, in our nearly $300 billion real estate business, approximately 80% of the equity portfolio is in sectors such as industrial and multifamily where rents in the U.S. are growing significantly in excess of the rate of inflation. Robert H. Castellini - W. Joseph Williams Jr. - Thomas L. Williams Lindner Reds Baseball LLC - Frank Cohen - William J. Reik Buy Buy Baseball, LLC - EMK Investment Company, LLC - Larry Sheakley - Jeffrey L. Wyler Harry J. Fath - Jeffrey L. Gendell - Edwin J. Riguad, AACE, LLC - HKR Baseball, LLC - Ronald L. Sargent John H. Wyant - George H. Vincent, Queen City Diamond, LLC - Heading for Home . Blackstone played a similarly vital role when the COVID-19 pandemic struck. The investment is expected to close in late August or early September, subject to receipt of TSX approval. September 2005 Frank Cohen is a Managing Director of The Blackstone Group. Blackstone's $1.5 billion purchase of WoodSpring Suites with Starwood Capital Group which followed the duo's $6 billion purchase of Extended Stay America from less than a year earlier captured the trend of more people working remotely from long-term accommodation properties during the pandemic. Gain knowledge on investment and development in tier-one countries, growing economies, and emerging markets around the world. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. "There is also more opportunistic lending to be done in places that have seen temporary disruptions but have good long-term fundamentals, such as urban apartments and high-quality, new-build office," Johnson told the Observer. All proxy statements are public filings made available to the general public by the SEC. For investors looking for steady forms of yield, even with rates rising, we believe real estate is well positioned. From every other industry tracked by Equilar, there were only five executives who reached such heights. "Can I send you my rsum?" To determine just how much money private equity titans receive, The New York Times asked Equilar, a board and executive data provider, to compile information from the six largest publicly traded private equity firms. The ultimate goal of the program is to expand access to high quality housing for lower- and middle-income individuals and families with less savings and/or lower credit scores. The move proved doubly prescient, as demand for content among homebound Americans skyrocketed during the pandemic. 1-202-739-9400 His net worth is currently pegged by Forbes at $22.3 billion. When banks tightened their lending standards after the 2008 financial crisis, Blackstone stepped in, providing debt to institutional investors and real-estate developers who found it difficult to get financing otherwise. "Core+ was, for all intents and purposes, a startup." "Demand for studio space in Los Angeles has been strong, but rising land values have made building new facilities very expensive. Connect with 500+ global attendees and hear from 25+ industry experts. An executive can either take a direct cut of the so-called carry pool or earn those quarterly dividends or distributions that are largely composed of carried interest. Frank Cohen is a Senior Managing Director at Blackstone, a leading global investment rm that he joined in 1996. Victor Fleischer, a former corporate tax attorney and a former contributor to The New York Times, has estimated that taxing carried interest at the higher rate would result in about $180 billion in tax savings over 10 years. This property will be among survivors, she said. She's managed to make the adjustment without sacrificing the company's pipeline of deals. We are constantly looking into interesting trends and anticipating change. Other prominent firms have produced big payouts as well. His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Gray, 51, has a net worth of $4.5 billion, according to Forbes. In 2015, Henry R. Kravis and George R. Roberts, the co-heads of Kohlberg Kravis Roberts & Company, collected a combined $356 million. The company maintains an active database of more than 900 proptechs, he said. No. Log in or sign up for Facebook to connect with friends, family and people you know. Agarwal Wesley LePatner Chairman of the Board and Chief Executive Officer President and Director Chief Operating Officer and Director . Cohen is a director for Equity Office Properties Trust, CarrAmerica Realty Corp., TRZ Holdings and Blackstone's industrial venture affiliate, as well as on the Kellogg Real Estate Advisory Board at Northwestern University. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. Blackstone Group pays an average salary of $95,000 per year. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. In a press release announcing the deal, Hamid said the transaction represented "a continuation of our high-conviction investing in top-quality multifamily communities in growth markets across the U.S.". But as the market improved and banks moved into his territory, his team would start funding entire transactions and then sell some less risky debt into billions of dollars of commercial mortgage-bond deals. China's new securitization growth continued in the third quarter (3Q) of 2021 amid some headwinds from regulatory shifts. United States, District of Columbia, Washington. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher), Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Find thousands of job opportunities by signing up to eFinancialCareers today. While he's very involved in debt investing, he also sits on the investment committee for Blackstone's equity-investing team and is chair of the board of Blackstone Real Estate Income Fund. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. "Nadeem's leadership in the initial deal was crucial in establishing the strong foundation we are building upon," Mark Lammas, the president of Hudson Pacific, wrote in an email to Insider. He joined Blackstone in 2008. 2019-05-08 ($3.1 BB Offered, $3.1 BB Sold) Fund. Available 24/7. He received no bonus. And as inflation surged to its fastest rate since 1981, apartment owners like Blackstone could also raise rents to preserve their profit margins, Schwarzman, Blackstone's CEO, said in an earnings call in January. Take Blackstone's investment in the hotel giant Hilton Worldwide in 2007. Frank Petro is the "James Brown" of compensation litigation - the hardest working man in show business! Now, McCarthy said the firm was looking to add talent at portfolio companies. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. Before his current role, Pollack led Blackstone Real Estate Debt Strategies, or BREDS, which he helped grow from roughly $10 billion in assets under management when he started at the firm to $26 billion as of the second quarter of 2020. REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. Most recently, we announced the acquisition of American Campus Communities, Inc. (NYSE: ACC), the largest developer and operator of student housing in the country. Cohen also is a director for EOP, CarrAmerica, TRZ Holdings and Blackstone's industrial venture affiliate. It can add up to tens of millions of dollars. The real-estate deal marks one of many signature deals the 39-year-old Werner has been involved in since joining Blackstone in 2005, including BioMed Realty, Pure Industrial, Home Partners of America, and Education Realty Trust. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). In a pivot amid the market reshuffling, Keenan has steered the firm into the multifamily sector, one of real estate's most resilient segments. Ares Management, however, includes both the amount of personal capital invested and the profits made on those investments. Investors Should Prioritize Listed Real Estate Market Over Private: LaSalle, Nareits REITwise: 2023 Law, Accounting and Finance Conference, A Conversation with Blackstones Frank Cohen on Opportunities in Real Estate and the Growth of BREIT. 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