His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. With exceptional legal credentials and experience, Petro Cohen, P.C. Tell us more about BREITs recent acquisition of Philadelphia-based Resource REIT. Blackstone recently announced an anchor $10 million contribution to the New York State COVID-19 . As investors and as corporate citizens, were very focused on ESG as well. She won the race. New York, New York 10154. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. And so, I think when you bring BREITs proprietary advantages together with Blackstones global institutional platform, this really resonates with our investors. Some hedge fund executives, for example, routinely take home $1 billion or more annually, according to some published estimates, but these firms are not publicly traded. The biggest issue is that we dont have enough of it, plain and simple. The following month, Blackstone announced another deal to buy Resource REIT, which owns more than 12,600 apartments across the country, for $3.7 billion. ), 2023 eFinancialCareers - All rights reserved. In London, he ran Blackstone's group for real-estate-debt strategies in Europe. This is also the problem that Blackstone . 95% of all owners saw an increase in earnings. "It's about pattern recognition," Fitzpatrick, 39, told Insider. As a subscriber, you have 10 gift articles to give each month. He has . Frank Cohen bought the share. His net worth is currently pegged by Forbes at $22.3 billion. "We're always thinking about: Do we have the right leadership in place? Other visits to follow shortly after and as other countries in Asia reopen to travel.". Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Do you know the neighborhoods I'm interested in? Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Scott D. Hoffman. Blackstone Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Just a few months later in 2016, he arranged for Blackstone to sell all but one of the hotel properties for $6.5 billion, which netted a quick $500 million profit. Marc Rowan, Apollos incoming CEO, pocketed at least $92.6 million, comprising $72.3 million in dividends and $20.3 million in distributions from his fund investments. They're not only long term but also bolstered by rising rents that provide the ideal hedge against soaring inflation, Schwarzman said. 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. 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). 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. Make yourself visible to recruiters hiring for top jobs in technology and finance. 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. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. What's Mr Cohen's mailing address? 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. While the share prices of Blackstone and Apollo have largely treaded water in the years since their market debuts, the shares of Facebook have soared. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. Kravis, 77, received $42 million in compensation and $39.3 million in dividends from his KKR shares, while Roberts, also 77, took home $42 million in compensation and $85.4 million in dividends from his KKR shares. A leading contributor to addressing some of the biggest issues facing the world today - such as energy transition, accelerating the adoption of new technologies, and social impact - where innovative approaches to investing can make a positive difference. In 2018, the investment firm sold 15.8 million shares in the hotel chain for a tidy $14 billion profit, Bloomberg reported at the time. Our job as investors is to identify areas of growth and then overweight those areas and sectors. The firm posted a net loss of $255m in the second quarter by virtue of the declining value of its private equity portfolio. 1-202-739-9400 Agarwal, 55, is at the center of the firm's Core+ business, a division that targets long-term investments supported by minimal debt. Chief Financial Officer. Levine is the point man for the industrial and life-sciences real-estate sectors, where demand has accelerated since the start of the pandemic. In this free webinar, Frank Cohen, Six Sigma Black Belt, statistician and data analyst, will cover key analytical issues and metrics that can be used to create a working and efficient compensation model based on Work RVUs, including ways to spot gaming and gain buy-in from physicians on revenue accountability. Before joining Blackstone's real-estate group, he was an analyst in the firm's restructuring and reorganization group. LePatner oversees the largest component of Blackstone's $514 billion real-estate portfolio, its collection of "core assets." Bloomberg News estimates the team is worth $680 million. 2125835000. Lead Director. In the case of Resource REIT, this was a public company owning approximately 12,000 apartments across 42 apartment communities. He let her build the car by herself. The publicly traded Carlyle Group, for example, no longer discloses this information. As the leader of that group, the 45-year-old Pollack oversees Blackstone's debt investments across a wide variety of sectors beyond but including real estate, including consumer finance and transportation. Meghji noted that studio tenants renewed and even expanded their leases on the lots during the pandemic, which illustrated their strong desire for space to produce content. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. She heads into Blackstone's office, typically by 8:30 a.m., and dives into a day of meetings and phone calls with investors and internal staff members. He is a graduate of the College of the Holy Cross. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). Frank Cohen has been chairman and the CEO of BREIT since July 2016. Weve committed ourselves to diversifying the boards of directors for the different companies that we run. Chief Administrative Officer and General Counsel. If Blackstone is doing any sort of real-estate-debt deal, Nash probably has something to do with it. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. Frank Cohen. BREIT just celebrated its fifth anniversary and has delivered a 13% annualized return since inception. He also earned $125.5 million in executive compensation. There are 28 other people named Frank Cohen on AllPeople. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Acquiring an ownership stake is a way Cohen is "keeping a connection to his hometown and the team he roots for," Rose said. Apollo Global Management Inc Chairman Leon Black, who agreed to relinquish his role as the companys CEO by July following an investigation of his ties to late financier and convicted sex offender Jeffrey Epstein, collected at least $185.2 million in 2020, another regulatory filing showed. In a pivot amid the market reshuffling, Keenan has steered the firm into the multifamily sector, one of real estate's most resilient segments. Many of the earnings are is not traditional compensation, but it's money in their pockets nonetheless. Cohen also is a director for EOP, CarrAmerica, TRZ Holdings and Blackstone's industrial venture affiliate. He is also the Chairman and CEO of Blackstone Real Estate Income Trust. The private equity firms argue that their executives could retire to a beach and earn these same dividends. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In her first year as CEO of the $5.3 billion public-debt firm Blackstone Mortgage Trust, Keenan is already battling one of the most volatile real-estate markets since her first investment-banking job at Lehman Brothers during the financial crisis. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. Her process, he said, reminded him of his own. Fitzpatrick has become something of a king maker in real-estate technology for his role in evaluating a constant flow of property-technology firms seeking Blackstone's approval. Menu Home; Rankings. Introductory Note . He is a Senior Managing Director with Blackstone based in New York. 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.". Frank Tang - The South China Morning Post . Frank Cohen is a Senior Managing Director at Blackstone, a leading global investment rm that he joined in 1996. REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. As a reaction to overbuilding at that time, we have actually under-built single-family and multi-family housing since then. Most recently, he played a key role in Blackstone's acquisitions of Equity Office Properties Trust, CarrAmerica Realty Corporation and Trizec Properties. One company that Blackstone backed is Dealpath, which digitizes data on commercial-real-estate deals. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Focused on growing, and developing, a new sales team, while equipping the organization with the sales tools,processes and resources resulting in highest revenue in company to-date. BREITs Choice Lease program provides access to quality housing for lower and middle-income households that make 80% of a specific areas median income level (AMI). As a result, BREIT is steering most of its capital to logistics and residential properties, he said. Blackstone has been engaged with REITs, listed and non-listed, for many years. The company maintains an active database of more than 900 proptechs, he said. 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. Today's environment, however, is more volatile. The conclusion of the study was striking: Private equity has the best-paid executives of any major American industry. BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. - Thursday, June 1, 2017 As someone who was good at what I did in my line of work, you just know when you are dealing with someone who is hard working, knows what they are doing, and is well prepared. Its largest mortgage in 2021 was $770 million it placed against Industry City, a 6 million-square-foot complex of office, manufacturing, and retail space on the Brooklyn waterfront. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. He told Insider that about 70% of Blackstone's real-estate portfolio consisted of three themes: logistics, residential, and life sciences. Last year, the fund received 29,000 applications for 103 junior (analyst) positions an acceptance rate of 0.4%. A statute, it would allow voluntary prayer in public schools, the display of the Ten Commandments and keep God in the Pledge and in the National Motto. Meghji, 41, led the $1.65 billion deal. 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. They have volunteered to forego their $300,000 base salary since the second quarter of 2020 following the spread of COVID-19 in the United States, KKR said. This report is not for commercial use. Drug Policy Alliance. Today, BREIT is overweight residential and industrial because thats where we see great fundamentals. In 2015, Henry R. Kravis and George R. Roberts, the co-heads of Kohlberg Kravis Roberts & Company, collected a combined $356 million. 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. Has the best-paid executives of any major American industry interested in conducting a detailed Compensation,! Commercial-Real-Estate deals of Resource REIT 70 % of Blackstone 's $ 514 billion portfolio. For real-estate-debt strategies in Europe not traditional Compensation, but it & x27! 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