That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. See Photos. Hamilton E. James, Blackstones president, received $233 million in 2015, while Blackstones real estate chief, Jonathan D. Gray, earned $249 million. Blackstone Real Estate is the industry leader in opportunistic, core plus and debt investing across the US, Europe and Asia. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. If you have focused your search on specific areas, it is important to work with a real estate agent who knows that area well. 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). 2023 www.cincinnati.com. I think ESG is something that is and will remain a large focus here at Blackstone and ultimately, youll see our underlying investors continue to be very concerned about managing ESG as well. We see this program as providing an opportunity to drive value for our investors through meeting a community need. Bonus range: $11,500 - $190,000. Frank Pilleri loses. Frank Cohen (born 15 October 1943) is a British businessman and art collector. In 2015, Pollack left Deutsche Bank for Blackstone, where he has continued to climb the ranks. There is C.E.O. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. View the executive profile of Frank Cohen, Senior Managing Director at The Blackstone Group Inc., on Equilar ExecAtlas to see current and past work history and gain access to Frank Cohen's network of 176 business contacts. He let her build the car by herself. REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. "One signature of our culture is that we are highly connected, highly communicative," McCarthy said. It's been on both sides of the trade in life-sciences properties, with its BioMed Realty acquiring a 22-building campus in Boulder, Colorado, for more than $600 million and selling a San Diego portfolio for $464 million. In addition, clearly our goal is to be good investors and provide solid returns for those who invest in our real estate funds. Cohen, a fourth-generation Cincinnatian, graduated from Seven Hills School in 1991. Weve definitely seen that trendline expand. Frank Cohen. The firm's real-estate division manages about $280 billion, with investments including warehouses, Hollywood studios, and biotech laboratories. The Cincinnati Reds' newest owner is a top official from a New York-based global private equity and advisory firm. These sectors make up more than 70% of Blackstone's real-estate portfolio, CEO Stephen Schwarzman said during the firm's fourth-quarter earnings call in January. 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. Raymond J. Beier is on the board of Blackstone Real Estate Income Trust, Inc. Agarwal, a Blackstone company lifer, is focused on what may be one of the firm's biggest real-estate initiatives to date. These real estate companies have to meet a number of requirements to qualify as REITs. First, given that Equilar pulled data from the last few years, the study is intended as a snapshot, not a definitive accounting of net worth. 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. CALL NOW: (559) 241-0411. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. Blackstone Group pays an average salary of $95,000 per year. Thats why we bought Simply Self Storage two years ago. 1-202-739-9400 Find thousands of job opportunities by signing up to eFinancialCareers today. Steven Cohen. Black, 69, received $423,687 in compensation, $182.3 million in dividends from his Apollo shares and $2.5 million from his personal investments in the firms funds. In 2014, Commercial Observer named him the most important person in commercial-real-estate finance. Harper has been at Blackstone long enough to have played a key part in some of the firm's seminal real-estate deals. Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last . In terms of listed REITs, the share price is not always reflective of the underlying real estate value. Copyright 2023 Surperformance. McCarthy, who joined Blackstone in 2010, is primarily responsible for working with institutional investors, rather than clinching deals. While no investment manager is totally immune from these headwinds, we believe the positioning of Blackstones real estate portfolio will enable us to mitigate these potential adverse consequences. In 2015, he collected just under $800 million, up from $689 million the year before. So far, only one of the trust's roughly 200 loansis non-performing, she said. Still, the methodology treated each executive consistently and calculated the entirety of the payouts. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. Frank Cohen, Blackstone's global head of Core+ Real Estate and chairman and CEO of Blackstone Real Estate Investment Trust, told Nareit the pandemic may have changed many things globally. Weve committed ourselves to diversifying the boards of directors for the different companies that we run. Were not building enough and especially not enough affordable housing. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. LePatner, who is second in command to BREIT CEO Frank Cohen, helped launch the investment vehicle in 2017 and has built it into the largest arm of Blackstone's massive real-estate platform . "Can I send you my rsum?" New York, New York 10154. "The whole real-estate business at Blackstone is driven by what we see as high-conviction themes," Keenan said. And there will only be more focus going forward. . 1-202-739-9401 (fax). This report is not for commercial use. Other visits to follow shortly after and as other countries in Asia reopen to travel.". Income increased by 320,000 per owner. And there will only be more focus going forward. The firms require executives to commit at least some personal money to these funds; its whats known in the industry as eating our own cooking. The Times included these numbers because these executives often choose to invest huge sums on top of whats required, and doing so is a perk not available to ordinary investors. People named Frank Cohen. The more carried interest earned, the higher the dividend. Robert Aderholt, R-Ala., has introduced House Resolution 3799, the Constitutional Restoration Act of 2004. He received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. These are the characteristics of real estate investment. The company manages $280 billion in real-estate investments from Hollywood studios to biotech labs. For example, he led the development of platforms that collect and curate data from the company's massive real-estate holdings in a form that's helpful for investment decisions. 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. Meghji, 41, led the $1.65 billion deal. "Multifamily is one of those areas.". Blackstone Real Estate Income Trust, Inc. Judd A & Marjorie Weinberg College of Arts & Sciences. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. In total, Frank Cohen has made about 3 transactions over 3 years of their time at Blackstone Real Estate Income Trust, Inc. Frank Cohen usually trades in January, February and August,. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Frank Cohen. Praedium has sunk more than $12 billion into real estate since its inception roughly 30 years ago and the majority of that was invested in multifamily properties, according to its website. Mr. Frank Cohen serves as Senior Managing Director, Real Estate & Global Head of Core+ Real Estate at Blackstone. She won the race. Harper, 44, joined Blackstone in 2002, and in that time, he completed stints with the firm in Los Angeles and London. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. He received $631 million last year, much of it in dividends on his stock, second only to Mr. Schwarzman, who also made much of his money from dividends. 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. Blackstone announced its second quarter results today. Frank Cohen is currently Chairman of the Board and Chief Executive Officer at Blackstone Real Estate Income Trust - View - Blackstone Real Estate Income Trust org chart In the $6 billion Home Partners deal in June, Blackstone bet on a portfolio of more than 17,000 homes across the US, a signal of Wall Street's renewed interest in the single-family-rental market. "Demand for studio space in Los Angeles has been strong, but rising land values have made building new facilities very expensive. The publicly traded Carlyle Group, for example, no longer discloses this information. BREIT just celebrated its fifth anniversary and has delivered a 13% annualized return since inception. In the first half of 2022, it was -$914m. Average owner income more than doubled after they engaged with DM. LePatner said. "Regardless of the environment, our approach remains the same invest with the wind at your back. In June, he played a pivotal role in Blackstone's purchase of the apartment and hotel operator Extended Stay America and its acquisition of WoodSpring Suites. As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. 2125835000. All quotes delayed a minimum of 15 minutes. Blackstone has been engaged with REITs, listed and non-listed, for many years. Total Equityaggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Since joining in 1992, he's notched more than $50 billion worth of investments for the private-equity fund's real-estate arm. 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. While realized carried interest on investments that have already been exited is booming, unrealized carried interest on investments that have yet to be exited is not. He also earned $125.5 million in executive compensation. Frank Cohen is Chairman & Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. and Senior Managing Director & Global head at Blackstone Real Estate Advisors. 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. 1-800-3-NAREIT Kim has arranged some of the fund's signature deals. Needless to say this will be skewed in favor of people at principal level and above: more junior staff don't get carried interest payments. Kenneth M. Jacobs. BlackRock Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Frank Cohen has been chairman and the CEO of BREIT since July 2016. Before joining Blackstone's real-estate group, he was an analyst in the firm's restructuring and reorganization group. The friend, a fellow University of Virginia alumnus, had mentioned over drinks that a first-year analyst went home for Easter break and "never came back" to Blackstone, Henritze said in a 2020 interview with Teague Hunter, the president and CEO of Hunter Hotel Advisors. ESG is definitely a global theme. Weve also brought in very senior ESG professionals to lead efforts at the firm. Schwarzman, who owns some 20% of Blackstone shares, reaped roughly $1 billion in dividends alone. We see public real estate as unequivocally more attractive than private real estate today, LaSalle's Lisa Kaufman told Nareits REIT Report podcast. As a result, REITs stack up very well as a fixed income alternative, plus you can get the upside from the underlying real estate. Chairman and Chief Executive Officer. Sign Up. Henritze recalled telling his friend. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Introductory Note . The couple sold a majority share in the team in 1981, but retained a smaller share of ownership in the team. Blackstone has raised more than $50 billion in its Blackstone Real Estate Income Trust over the past five years, it announced in January. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . He is a graduate of the College of the Holy Cross. The joint study captured the full picture of what the executives made based on their affiliation with their firms, including dividends on the stock they own and some extra benefits specific to private equity. Blackstone President Jonathan Gray, Schwarzmans No. And we do that by identifying themes benefiting from changes in the way people are living, shopping, working, and spending their leisure time," Kim said. ESG is definitely a global theme. 1. When large corporations disclose how much money their top executives make each year, the companies list salary, bonus and, in many cases, stock options or grants. He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. Businessman Bob Castellini remains the current principal owner of the Reds. Strategic connections and expert insights into global investment markets Tackling geopolitical issues and harnessing real estate growth opportunities. Since joining Blackstone in 1996, Cohen has been involved in over $100 billion of real estate transactions. The charts on this page feature a breakdown of the total annual pay for the top executives at BlackRock Inc. as reported in their proxy statements. Cohen also is a director for EOP, CarrAmerica, TRZ Holdings and Blackstone's industrial venture affiliate. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. Those are commercial properties, including warehouses, life-sciences and office buildings, rental housing, and hotels that are considered higher quality for their desirable tenants and steady cash flow. Trebilco has been responsible for about $20 billion worth of acquisitions across the real-estate and hospitality sectors. Personal. United States Navy. 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. Furthermore, The Times and Equilar focused on publicly traded companies with more than $1 billion in revenue. (A full breakdown is below.) 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. There are currently 19 investors in the team, according to the Cincinnati Reds' website. More data has been produced in the last two years than in all of human history before that time. For its 2021 fiscal year, BlackRock Inc., listed the following board members on its annual proxy statement to the SEC. Keenan, a 38-year-old Harvard graduate, is taking contrarian views, too. The information shown here is a reporting of information included in the company's proxy statement. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. We are thematic investors so were always looking for areas of outsized potential and trying to really draw on the proprietary information that we have within our own portfolio. For example, an . This report is not for commercial use. Click here to create a profile on eFinancialCareers. The listed REIT market, though, can be used tactically to add or subtract exposure to specific sectors on a total basis. E-commerce has been a huge tailwind for industrials, obviously. Frank Cohen Chairman of the Board and Chief Executive Officer Frank Cohen has been Chairman of the Board and the Chief Executive Officer of the Company since July 2016. Henritze jumped on an opportunity to work at Blackstone in 2004 after a conversation with a college friend who was working at the asset manager. Even the publicly traded private equity firms do not disclose all the same information, particularly when it comes to profits on their own funds. CEO of Financial Advisory. Contact:sbutcher@efinancialcareers.comin the first instance. Owner income is 240,000 higher than MGMA average earnings. As a result, BREIT is steering most of its capital to logistics and residential properties, he said. For investors looking for steady forms of yield, even with rates rising, we believe real estate is well positioned. Fitzpatrick has a background in software engineering, which may reflect the technical know-how that runs in his family. We really think of ourselves as active investors and portfolio managers in this regard, he says. Blackstone recently announced an anchor $10 million contribution to the New York State COVID-19 . Using the same method it used for private equity, Equilar collected data from the nations largest banks and the technology giants. 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. 3003 N Blackstone Ave. Suite 206. "When we faced challenges, Nadeem provided helpful creative solutions to advance the transaction.". 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. Whats your view on the state of the commercial real estate industry? Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. As a result, new supply has been virtually nonexistent," Meghji wrote in a blog post just months after the deal. It's not easy to get a job at Blackstone.. Blackstone announced its second quarter results today. She's managed to make the adjustment without sacrificing the company's pipeline of deals. View the executive profile of Frank Cohen, Senior Managing Director at Blackstone Inc., on Equilar BoardEdge to see current and past work history and gain access to Frank Cohen's network of 190 business contacts. Nash had a long career before Blackstone, working at Barclays Bank, Deloitte, and the Bank of Nova Scotia before spending a decade leading Merrill Lynch's real-estate principal investment group from 1997 to 2007. Washington, D.C-based Carlyle Group Inc has not yet filed regulatory reports containing information on the compensation and dividends of its chief executive, Kewsong Lee, and its founders David Rubenstein, William Conway and Daniel DAniello. Blackstone played a similarly vital role when the COVID-19 pandemic struck. These apartments are located in the Southeast and the Southwestmarkets that are dynamically growing. Date: Log In. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. "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. Through his influence on some of Blackstone's biggest deals and most lucrative asset classes, he has risen to become a cohead of acquisitions in the Americas for Blackstone real estate. Do you know the neighborhoods I'm interested in? You may also find the annual proxy statement by going directly to the company's website. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. A source with knowledge of the deal told The Enquirer Cohen acquired a less than 5 percent stake in the team. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. In an interview with Commercial Observer shortly after his promotion, Johnson highlighted warehouses, multifamily apartment buildings, and life sciences as attractive sectors for both debt and equity investments. For its 2020 fiscal year, Blackstone Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC. 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. "Hotels have been still in the recovery phase on the vacancy side," Caplan said, "but if you look at those other top three sectors, there are very low vacancy rates and very strong rental growth.". Office demand has plummeted, but the firm believes it should still hold a major place in its book of business. The firm has also been sinking its investor capital a pool it's diversified through smaller investors into a biotech hub in Colorado and the owner of 44 multifamily communities and about 12,000 housing units in the Southeast. In Agarwal, Blackstone has tapped one of its most experienced operators to craft its Core+ efforts. PAC consists of 44 multifamily communities largely across Atlanta; Nashville, Tennessee; Charlotte, North Carolina; and Orlando, Tampa, and Jacksonville in Florida as well as 54 grocery-anchored shopping centers and two Sun Belt office properties, an announcement from Blackstone said. Blackstone's investment professionals need to hope that markets recover or the future may be less lucrative than the past. Northwestern wanted him back. In early 2020, when the pandemic turned once bustling office buildings into ghost towns, many commercial-real-estate investors braced for big losses. We are committed to providing these families with an opportunity to initially rent a desirable home at a discounted rate thats 10% below the local market in most cases. In September, Blackstone sold its stake in The Cosmopolitan, a resort and casino on the Las Vegas Strip that the money manager acquired in 2014 for $5.65 billion. BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. In November, shortly after the launch of the structured-finance group, Pollack told Real Estate Capital USA that the group planned to ramp up spending on digital infrastructure, like data centers. Nareits REITwise: 2023 Law, Accounting and Finance Conference offers a comprehensive educational program for legal, financial, tax and accounting operations within REITs and publicly traded real estate companies. 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 team said in a Tuesday news release that it approved approved the sale Friday. Top executives at the publicly traded private equity firms get all that, and a whole lot more. This base compensation is the equivalent of $48 per hour assuming a 40 hour work week (2,000 hours per year). The Nipperts ultimately bought a majority stake in the Reds in 1973 and retained that interest through the Big Red Machine era until 1981. Many of the earnings are is not traditional compensation, but its money in their pockets nonetheless. The executive, 41, has real estate in his blood. 2.2. 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