Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. Fitzpatrick is one of the only people on this list who doesn't lead any deals of his own, or at least not any real-estate deals. Privately-held corporations need not report compensation information. He is a Senior Managing Director with Blackstone based in New York. Direct---United States, New York, New York. 3003 N Blackstone Ave. Suite 206. 1-202-739-9400 In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the. What are some of the success factors youve seen in investing? Introductory Note . "I think there will be a benefit in the broadening of our experiences the more things we see, the more we find opportunities, the more we learn about new areas where our capital can provide value on behalf of our investors," Pollack told the news and intelligence service, which is focused on real-estate finance. KKR & Co Inc co-founders and co-Chief Executives Henry Kravis and George Roberts collected at least $81.3 million and $85.4 million respectively, primarily from their holdings in the firm, a regulatory filing showed. 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. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. It can add up to tens of millions of dollars. Blackstone Real Estate Investment Trust, the largest non-publicly traded real-estate investment trust, faces its biggest challenge since its inception in 2017 amid a setback in public real-estate. Frank Cohen. Most private equity executives sell their shares upon leaving their firms. Frank Cohen. BREDS is now part of the structured-finance group. Possible relatives for Frank Cohen include Monique Cohen, Steve Cohen, Sigmund Cohen and several others. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). In the first half of 2021 this was $2.2bn. Blackstone Real Estate Income Trust, Inc. Judd A & Marjorie Weinberg College of Arts & Sciences. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. 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. Frank Cohen A.J. 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. They reveal that the compensation spending in the form of salaries, bonuses, and realized carried interest (profits shared between investment employees after the successful exit of investments) increased 94% in the first half of 2022, to nearly $3.2bn across the firm. At QTS, we are working on a program to get to 100% renewable power. 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. He graduated from Northwestern University with a bachelor's degree in political science and he also graduated from the Honors Program in Mathematical Methods in the Social Sciences. Executive compensation at Blackstone is directly tied to investor and shareholder performance, a Blackstone spokesman said in a statement, adding that most of it reflected realized performance fees from investments and long-dated stock grants. . "The crisis created an unprecedented investment environment, which is all you can ever ask for as you launch a new business," he said. CEO of Financial Advisory. Frank Cohen joined Blackstone Group in 1996. What makes LePatner's tenure at Blackstone more remarkable is that its core strategy was a nascent investment category when she joined the firm in 2014. Many of the earnings are is not traditional compensation, but its money in their pockets nonetheless. In terms of listed REITs, the share price is not always reflective of the underlying real estate value. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. ESG is definitely a global theme. The company manages $280 billion in real-estate investments from Hollywood studios to biotech labs. Lead Director. frank pilleri racsim harvey alberg racist ronald delucia ark insurance stoneham elder basher arthur alan deluca; FRANKIE; frankie fingers; fraud; Fraud Rick Caraviello deserves prison time; Fraud Robert Ted Tomasone; fraud tv 3 board of directors entrenched cronies banning frank pilleri ban for deluca ban alberg ban Delucia 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. "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.". 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. "Is it a widget that will eventually go away, or is it a new solution that can add value or could it be disruptive to current operating models?". Thorough reviews have been conducted to assure this data accurately reflects disclosures. Take Blackstone's investment in the hotel giant Hilton Worldwide in 2007. The issuance of residential mortgage-backed securities (RMBS) resumed in August, following a break in the previous two months. 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 . 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. "Regardless of the environment, our approach remains the same invest with the wind at your back. Log in or sign up for Facebook to connect with friends, family and people you know. He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. 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.". His father, Fred H. Henritze, is a cofounder and the vice chair of the Brookdale Group, an Atlanta commercial-real-estate firm. And as an investor, Ive learned that part of the job is to be prepared for the inevitableand change is inevitable. The listed REIT market, though, can be used tactically to add or subtract exposure to specific sectors on a total basis. Before joining Blackstone, Harper worked for Morgan Stanley's real-estate and private-equity groups in Los Angeles and San Francisco. Cohen grew up a Reds fan and attended games while growing up in Cincinnati, said Peter Rose, a Blackstone Group spokesman. Hamid, a graduate of New York University, is a seasoned veteran of the multifamily space. Since joining Blackstone in 1996, Mr Cohen has been involved in a variety of real estate transactions, encompassing all property types throughout the United States. Today, BREIT is overweight residential and industrial because thats where we see great fundamentals. Thats why we bought Simply Self Storage two years ago. 8 is Steve Cohen, the owner of the New York Mets baseball team. Blackstone played a similarly vital role when the COVID-19 pandemic struck. Frank Pilleri loses. Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). See Photos. The team said in a Tuesday news release that it approved approved the sale Friday. (Stock sales and unrealized equity gains from increase in stock price werent included in this study.) The actual average hours worked per week at Blackstone Group based on our data is actually 67 hours, which . As an example, European institutions are very focused on ESG but there are other parts of the world where maybe there is less focus. "Multifamily is one of those areas.". 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. 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. Other proptechs that have appealed to Blackstone are the property-management-software provider Yardi and the lease-management-software company VTS. Were not building enough and especially not enough affordable housing. Copyright Nareit 2023. What impact might rising interest rates and inflation have? Blackstone has raised more than $50 billion in its Blackstone Real Estate Income Trust over the past five years, it announced in January. Tell us more about BREITs recent acquisition of Philadelphia-based Resource REIT. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Available 24/7. Cohen, a fourth-generation Cincinnatian, graduated from Seven Hills School in 1991. "Demand for studio space in Los Angeles has been strong, but rising land values have made building new facilities very expensive. That's in large part because of Kim, BREIT's 43-year-old head of acquisitions and capital markets. "I faced all the challenges one could imagine when building a multibillion-dollar business from hiring to ensuring standards remain high, moving quickly to keep up with growth, and staying ahead of market swings and growing pains.". Test Drive ZoomInfo's Directories Browse Directories. 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. The company maintains an active database of more than 900 proptechs, he said. 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. The executive, 41, has real estate in his blood. Today's environment, however, is more volatile. Drug Policy Alliance. There is C.E.O. 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. All quotes delayed a minimum of 15 minutes. Levine started his career at Blackstone after graduating from Northwestern University over 12 years ago. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Frank Cohen bought the share. A source with knowledge of the deal told The Enquirer Cohen acquired a less than 5 percent stake in the team. This is why The Times also asked Equilar to collect data from tech firms, since they, too, often have founders at the helm. 345 Park Avenue. So, in terms of how our lens evolves over time, we are always looking at what sort of new and interesting things could be out there. In the case of Resource REIT, this was a public company owning approximately 12,000 apartments across 42 apartment communities. He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. Frank Cohen, Chairman and CEO of BREIT, said, " This transaction is a complementary addition to BREIT's high-quality portfolio of income-generating real estate, which is heavily weighted. Date: The way we think about it is that there are two things that increase prices for assetsrising cash flows and rising multiples. See Photos. For one thing, of the top 15 executive payouts from 2015, 10 were in private equity. He joined Blackstone 10 years ago from Capital IQ with a goal of making its massive amount of proprietary real-estate and private-equity data more useful to investors. A Recent Survey of Our Private Practice Clients Revealed the Following Statistics. 95% of all owners saw an increase in earnings. An in-depth comparative examination of legal history and jurisprudence however corroborates and amplifies the soundness of the comparison. or. Asia Pacific; EMEA; Latin America; UK Solicitors; UK Bar; United States Read more. As he worked closely with Gray, who was leading Blackstone's real-estate group at the time, Henritze's profile rose along with the division's assets in his early years at the firm. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. 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. Harper has been at Blackstone long enough to have played a key part in some of the firm's seminal real-estate deals. Frank Cohen, BREIT chairman and CEO, says the REIT is constantly looking at new investment alternatives. Coronavirus Tips Working and Protection, For its 2021 fiscal year, BlackRock Inc., listed the following executives on its annual proxy statement to the SEC. The investment is expected to close in late August or early September, subject to receipt of TSX approval. "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. With regards to todays REIT investors, some are more focused on ESG than others. 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. And over the past 11 years, she said investors had sought higher returns in the real-estate industry during a low-interest-rate and low-inflation environment. Frank Cohen. This is also the problem that Blackstone . Blackstone's generosity seems at odds with other aspects of its results. Its operations have continued to grow throughout the pandemic, both by head count and by the size of its funds, according to interviews with the investment firm's leaders. The conclusion of the study was striking: Private equity has the best-paid executives of any major American industry. 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. 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. Boston New York City Houston Chicago Los Angeles Atlanta. Contact info: cohen@blackstone.com, cohenf@blackstone.com, fcohen@blackstone.com Find more info on AllPeople about Frank Cohen and The Blackstone Group L.P., as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. Kim has arranged some of the fund's signature deals. There is no doubt that more people are focused on ESG and working towards strong, positive ESG outcomes across portfolios. 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. Nevertheless, we think that as an IPO company, Blackstone must fully disclose its financial statements and it is also the must-pay and tradeoff to lower the costs of capital. Base range: $60,000 - $175,000. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . The timing of Blackstone 's purchase of Equity Office Properties could hardly have been worse. Nash's team originally focused on making riskier and higher-yielding mezzanine loans behind banks that were making senior loans, he told REIT Magazine in 2015. Gray, 51, has a net worth of $4.5 billion, according to Forbes. Henritze recalled telling his friend. If you went back 20 years and looked at the Blackstone real estate portfolio then, it was probably a third office, a third hotels, and a third other sectors. I think weve also created a product and a platform with distinct competitive advantages. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. The resorts include indoor water parks, restaurants, and other recreational options which tapped Trebilco's experience in not just real estate but also hospitality and entertainment. Blackstone Real Estate is the industry leader in opportunistic, core plus and debt investing across the US, Europe and Asia. 2. Another of Levine's most influential deals was the acquisition of the 179 million-square-feet of warehouse space from GLP for $18.7 billion in 2019, which was the largest private-real-estate transaction at the time and preceded the explosive demand the sector would experience a year later. About 42% of its volume was for apartment properties in 2021. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $60 billion of real estate investments. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. It almost doubled Blackstone's square footage in its Link Logistics warehouse platform, which Levine helped create earlier in 2019. The Blackstone Group Inc. is providing the disclosure contained in this Current Report on Form 8-K to reflect the completion of its conversion (the "Conversion") from a Delaware limited partnership named The Blackstone Group L.P. (the "Partnership") to a Delaware corporation named The Blackstone Group Inc. (the "Corporation") effective at 12:01 a.m. (Eastern . In December, Blackstone announced a $3.6 billion deal to acquire Bluerock Residential Growth REIT, a real-estate investment trust that owns about 11,000 apartment units in Sun Belt states like Georgia, Florida, and Texas. Other prominent firms have produced big payouts as well. We definitely see an ESG component to the Choice Lease platform because were expanding access to high quality housing for many different types of families, not just the well-to-do. Eventually it will unless its offensive or libelous (in which case it wont. Last year, we did the QTS Realty Trust deal, which was a large data center deal. 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 is the Global Chairman of Core+ Real Estate. Pollack eventually became the global head of Deutsche Bank's commercial-real-estate business, overseeing a division that doled out billions to high-powered developers including Donald Trump. Its very clear there are issues in this country with housing. Blackstone Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. While the former Goldman Sachs dealmaker grew up on the Jersey Shore and likes to spend weekends there, she calls Manhattan home. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. The idea that "Felix Cohen was the Blackstone of Federal Indian Law" has stylistic appeal and could have been little more than a gracious way to celebrate Cohen. BREIT recently agreed to spend $1 billion to acquire single family homes and help address housing affordability challenges as part of its Choice Lease program in the U.S. What impact do you expect this to have on the current housing market? Meghji, the head of real estate for the Americas at Blackstone, knew that demand for studio space was still strong in Hollywood, where costly new build-outs had come to a halt. 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. Our job as investors is to identify areas of growth and then overweight those areas and sectors. But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. Blackstone Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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). Biotech is another critical area for the firm. He is a graduate of the College of the Holy Cross. She's managed to make the adjustment without sacrificing the company's pipeline of deals. Whats your view on the state of the commercial real estate industry? Private equity firms note that, unlike banks, many of the top executives actually founded their firms. Even the publicly traded private equity firms do not disclose all the same information, particularly when it comes to profits on their own funds. 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. We are constantly looking into interesting trends and anticipating change. Well find that these tenants will have very stable occupancy rates, so we get a good risk adjusted return overall. "Then, I try to turn my focus to getting myself and my two daughters ready for our days and out the door," McCarthy said. 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. September 2005 Frank Cohen is a Managing Director of The Blackstone Group. It's part of Blackstone's perpetual investment vehicles, which deploy permanent sources of capital. So, acquiring Resource REIT is very much in line with our strategy and fits nicely into the portfolio as well. Address. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. 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. "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. Log In. Email. 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. Bonus range: $11,500 - $190,000. Before Blackstone, LePatner was an executive at Goldman Sachs for 11 years, rising to the role of chief operating officer of its real-estate investment group. As a subscriber, you have 10 gift articles to give each month. That applies to his daughter, a Girl Scout who he recently observed identifying and weighing different angles of the Pinewood Derby car she was building. Blackstone's $8 billion purchase of BioMed Realty Trust in 2015, CEO Stephen Schwarzman said during the firm's fourth-quarter earnings call. Frank Cohen Age : 49 Public asset : 12 USD Linked companies : Tricon Residential Inc. Summary 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. Frank Cohen. For its 2021 fiscal year, BlackRock Inc., listed the following board members on its annual proxy statement to the SEC. The private equity firms argue that their executives could retire to a beach and earn these same dividends. The Nipperts ultimately bought a majority stake in the Reds in 1973 and retained that interest through the Big Red Machine era until 1981. Schwarzman, who owns some 20% of Blackstone shares, reaped roughly $1 billion in dividends alone. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. So far, only one of the trust's roughly 200 loansis non-performing, she said. He co-oversees US real estate investments and is a member of the firm's real estate investment committee. Finally, there is whats known as carried interest, essentially the profits earned on each of the firms deals. 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. 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. Direct. 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 Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. 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