REIT C-suite/board positions
Anyone have knowledge/experience relating to how people go about getting into these executive positions at reits? Looking at a handful of reit websites and reading the profiles of some of their executive management there doesn't seem to be any sort of "track" to get one of these positions -- Is getting on the board of a reit just all networking or is there some definite experience that you must have?
Usually you founded the REIT or were the lead on the REITs biggest transactions
Also C level in general:
CEO - Raising Capital/Closing Deals : Need a big LP investor/ Major Tenant/ Approval on a development? grab someone with a relationship to the LP/Tenant/Deve Team and make him your CEO CFO - Accounting nuances of portfolio/ Taxes special situations: usually really in tune with how tax/accounting changes effect portfolio COO - Operating the business/ Developments or Asset Management head: might know the history of each asset better than anyone else
I recently met a CEO of a multifamily REIT based in my city, his background was essentially moving up the ranks of a large multifamily LP group (I think he was an SVP then MD), then he got on the REIT's board of directors, then transitioned into the REIT's C-Suite (going from COO to eventually CEO). I would guess that most REIT boards look for local, experienced people in the business.
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