It's up to us! Over the past five years, BREIT has amassed a $94 billion portfolio as of year-end 2021. United States Navy. The report and its 30-plus case studies feature REIT leadership and ESG innovation from a variety of sectors and serves as a tool to assess the scale and impact of the REIT industrys ESG commitments and initiatives. The charts on this page feature a breakdown of the total annual pay for the top executives at Blackstone Inc. as reported in their proxy statements. The Times then analyzed the data, which covered the period from 2012 to 2015, and verified Equilars findings with the firms themselves. Other visits to follow shortly after and as other countries in Asia reopen to travel.". 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,. Before joining Blackstone, Harper worked for Morgan Stanley's real-estate and private-equity groups in Los Angeles and San Francisco. There, Trebilco, 38, worked closely with clients in the gaming and hospitality worlds. 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. He has also been responsible for many of Blackstone's other office . The private equity firms argue that their executives could retire to a beach and earn these same dividends. This property will be among survivors, she said. What impact might rising interest rates and inflation have? He is frequently referred to as "the Saatchi of the North", in reference to the more famous art dealer Charles Saatchi. Both are very stable asset classes. 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. 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. See Photos. Blackstone Real Estate Income Trust, Inc (BREIT), a REIT managed by the worldwide real estate investment firm Blackstone, has struck a deal to purchase the Simply Self Storage portfolio for an estimated $1.2 billion. Whats your perspective on how investors can use them to complement or hedge an investment portfolio over other fixed income products? The listed REIT market, though, can be used tactically to add or subtract exposure to specific sectors on a total basis. Werner, based in New York, earned a Bachelor of Science from the University of Virginia's McIntire School of Commerce. Scott D. Hoffman. 2125835000. Introductory Note . He also helped spearhead Blackstone's acquisition of the 11,000 units inthe adjoining Manhattan apartment complexes Stuyvesant Town and Peter Cooper Village for nearly $5.5 billion. "Generally speaking, our place in the world of real-estate finance has been filling in the gaps of what a traditional bank would do," Johnson, the global head of BREDS, told Insider in 2020. He is a Senior Managing Director with Blackstone based in New York. The biggest issue is that we dont have enough of it, plain and simple. 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. Committee: House Education and the Workforce: Related Items: Data will display when it becomes available. He's since been involved in more than $100 billion in real-estate investments and serves as the head of strategic investment for Blackstone Real Estate Americas. 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 Average owner income more than doubled after they engaged with DM. About 42% of its volume was for apartment properties in 2021. And so, while private equity earned the biggest payouts among the largest publicly traded industries, there could be private companies (or small public ones) doling out even bigger paydays. Ive been at Blackstone since 1996 and the one consistent thing I have seen when investing real estate capital is that uncertainty and volatility is just part of investing. Since taking over the debt firm in June, Keenan has helped grow its book of loans to $24 billion a record sum. 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. So far, only one of the trust's roughly 200 loansis non-performing, she said. Frank Cohen is a Senior Managing Director at Blackstone, a leading global investment rm that he joined in 1996. BREIT 3 All figures are approximate and as of March 31, 2020, unless otherwise indicated. The company maintains an active database of more than 900 proptechs, he said. 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 . Blackstone Real Estate Income Trust, Inc. Judd A & Marjorie Weinberg College of Arts & Sciences. Since joining the firm, he's been involved in more than $100 billion of real-estate acquisitions and initiatives. Anyone can read what you share. That's Frank Petro. Furthermore, The Times and Equilar focused on publicly traded companies with more than $1 billion in revenue. Blackstone owns about $116 billion worth of such assets, mostly through its $100 billion private-investment fund BREIT. Green asset-backed securities (ABS) made . But you dont need to be Mr. Schwarzman to earn huge sums at Blackstone, arguably the industrys most successful firm. Owner income is 240,000 higher than MGMA average earnings. This report is not for commercial use. Since joining Blackstone in 1996, Mr. Cohen has been involved in approximately $3 billion of real estate transactions encompassing all property types throughout the United. 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. Read more. From every other industry tracked by Equilar, there were only five executives who reached such heights. Available 24/7. BREIT just celebrated its fifth anniversary and has delivered a 13% annualized return since inception. 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. Blackstone Group pays an average salary of $95,000 per year. Contact:[email protected] the first instance. 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. COHEN, FRANK SHORT HILLS, NJ 07078: Blackstone Real Estate/Blackstone Real Estate/Senior Managing Director: $50,000: 12/20/2019: P: UNITE THE COUNTRY: COHEN . 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 received an undergraduate degree from the University of Minnesota Duluth and an MBA from The Curtis L. Carlson School of Management. "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. 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. In November, he was named the global head of Blackstone's structured-finance group, a newly created unit that combines the firm's real-estate-debt business with its other asset-backed lending. - Thursday, June 1, 2017 Blackstone has the largest real estate platform in the world with $326 billion in investor capital under management (as of December 31, 2022). How interested in ESG are REIT shareholders and what are some favorable outcomes BREIT has experienced managing your own ESG initiatives and benchmarks? Meghji, 41, led the $1.65 billion deal. 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). 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 . 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. Frank Cohen joined Blackstone Group in 1996. At QTS, we are working on a program to get to 100% renewable power. 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. 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. In addition to Keenan's role as the chief executive of Blackstone Mortgage Trust, she is a senior managing director of Blackstone's Real Estate Debt Strategies, the group that oversees Blackstone's companywide $54 billion real-estate-loan book. 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. 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. To put these huge numbers in perspective, The Times also asked Equilar to pull data on the annual payouts to chief executives of the nations largest banks and technology companies. It almost doubled Blackstone's square footage in its Link Logistics warehouse platform, which Levine helped create earlier in 2019. Frank Petro is the "James Brown" of compensation litigation - the hardest working man in show business! We see this program as providing an opportunity to drive value for our investors through meeting a community need. Frank Cohen. The Nipperts ultimately bought a majority stake in the Reds in 1973 and retained that interest through the Big Red Machine era until 1981. Drug Policy Alliance. Johnson, who joined Blackstone in 2011, oversees all of Blackstone's investments in commercial- and residential-real-estate debt. An associated email addresses for Frank Cohen are life***@ole.com , dan***@usa.com and more. He has been Chairman of the Board of Directors and the Chief Executive Officer of Blackstone Real Estate Income Trust, Inc. since July 2016. "The company that can connect the dots and paint the most complete picture wins.". Were not building enough and especially not enough affordable housing. 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. Businessman Bob Castellini remains the current principal owner of the Reds. Our Standards: The Thomson Reuters Trust Principles. All proxy statements are public filings made available to the general public by the SEC. Theres always going to be uncertainty and volatility. she said. In the first half of 2022, it was -$914m. So, whether it was the tech bubble in 2000 or the financial crisis in 2008, or COVID in 2020, what Ive really learned is that you always have to be looking around corners and anticipating change. Mark Zuckerberg of Facebook was paid a salary of $1 last year and received personal security and aircraft perks valued at around $5 million. We are trying to make 90% of our portfolio green building certified. Blackstone netted $4.1 billion from the deal, according to The Wall Street Journal. It's part of Blackstone's perpetual investment vehicles, which deploy permanent sources of capital. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Blackstone Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Frank Pilleri loses. Similarly, of the thousands of private equity firms that exist, only a half dozen or so are publicly traded. Date: 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. Despite the firm having to restructure Hilton's debt after the 2007 housing crisis, Blackstone hung on to the hotel chain long enough to chalk up one of its most profitable private-equity investments. 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. Instead, he is in charge of Blackstone's technology needs and participates in the firm's venture-capital-style investments. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors. In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the Blackstone Group, received the largest sum. The executive, 41, has real estate in his blood. ESG is definitely a global theme. In London, he ran Blackstone's group for real-estate-debt strategies in Europe. For example, an . Our job as investors is to identify areas of growth and then overweight those areas and sectors. 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. Frank Cohen is a Senior Managing Director with the Blackstone Group based in New York. Frank Cohen. With exceptional legal credentials and experience, Petro Cohen, P.C. 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. Log In. Its very clear there are issues in this country with housing. 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. 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. Frank Cohen (Frankiereds) See Photos. He is the Global Chairman of Core+ Real Estate. Frank Cohen - $79,200 in Political Contributions for 2020, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . We believe being a good corporate citizen is central to that mission. "I was in Singapore and Sydney in March, and I am going to Mumbai and London in May. In private equity alone, there were eight executives who reaped more than $100 million. Hotels bring the mix up to 80%. 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. The implication, therefore, is that the average Blackstone person earned $795k for the past six months, and will earn nearly $1.6m for the full year. A guru of CMBS, or commercial mortgage-backed securities, Pollack was a key figure in financing hotel brands from Hilton to Motel 6 and New York City office skyscrapers including Worldwide Plaza, 300 Park Ave., and 1515 Broadway. 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). 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. BlackRock Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. As a subscriber, you have 10 gift articles to give each month. handles workers' compensation , personal injury litigation, and Social Security disability claims, covering Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, Monmouth, Ocean, and Salem counties. Whats your view on the state of the commercial real estate industry? 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. 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. Trebilco has come a long way quite literally. A source with knowledge of the deal told The Enquirer Cohen acquired a less than 5 percent stake in the team. 2019-05-08 ($3.1 BB Offered, $3.1 BB Sold) Fund. It was the largest real-estate credit fund ever raised, according to Blackstone, and represented nearly half of all funds raised in 2020, the commercial-real-estate brokerage JLL said. Blackstone President Jonathan Gray, Schwarzmans No. 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. "We've been investing for several years in life-science office buildings where these companies do their work and have their labs," Caplan said. 2.2. Frank Tang - The South China Morning Post . Peter R. Orszag. Eric's mailing address filed with the SEC is 200 BELLEVUE PARKWAY, SUITE 300, WILMINGTON, DE, 19809. Kim has arranged some of the fund's signature deals. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. 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. What are some of the success factors youve seen in investing? Finally, there is whats known as carried interest, essentially the profits earned on each of the firms deals. Direct---United States, New York, New York. Engineman. Kenneth A. Caplan is the Global Co-Head of Blackstone Real Estate. 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. Henritze recalled telling his friend. Before joining Blackstone's real-estate group, he was an analyst in the firm's restructuring and reorganization group. Using the same method it used for private equity, Equilar collected data from the nations largest banks and the technology giants. These are the characteristics of real estate investment. Have a confidential story, tip, or comment youd like to share? 3003 N Blackstone Ave. Suite 206. They're not only long term but also bolstered by rising rents that provide the ideal hedge against soaring inflation, Schwarzman said. Investors bought a record $335 billion worth of US apartment buildings in 2021, more than double the amount in 2020, according to Real Capital Analytics, which analyzes commercial-real-estate data. 8 is Steve Cohen, the owner of the New York Mets baseball team. Last year, the fund received 29,000 applications for 103 junior (analyst) positions an acceptance rate of 0.4%. Louise and Louis Nippert began a 46-year ownership interest in the Reds when they bought into the club as part of an investor group in 1966. Pollack established himself as a star in real-estate finance during his 16-year tenure at Deutsche Bank. Blackstone is currently in the process of expanding its EMEA operations under Farhad Karim. If you have focused your search on specific areas, it is important to work with a real estate agent who knows that area well. And yet, over all, the payouts to tech executives are still far short of those in private equity. . "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. Since joining Blackstone in 1996, Mr. Cohen has played an integral role in the growth of the real estate business. Frank Cohen. Carried interest is taxed at a long-term capital-gains rate that is roughly half the ordinary income rate for the nations highest earners. Coronavirus Tips Working and Protection, For its 2020 fiscal year, Blackstone Inc., listed the following executives on its annual proxy statement to the SEC. The top executives of private equity firms often earn a cut of these profits. Blackstone's acquisition in 2008 of credit-investing platform GSO has been a massive success, with assets growing from $10 billion to nearly $130 billion today. Contact info: [email protected], [email protected], [email protected] 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. Since joining Blackstone in 1996, Mr. Cohen has been involved in over $100 billion of real estate transactions. More data has been produced in the last two years than in all of human history before that time. Menu Home; Rankings. 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.". 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. "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.". However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. She is also an investment-committee member for Blackstone Real Estate Advisors. 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. While traditional lenders pulled back because of economic uncertainty, the company raised $8 billion for its latest real-estate debt fund, BREDS IV, which closed in September 2020. The investment is expected to close in late August or early September, subject to receipt of TSX approval. Address. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. 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. [EDGAR] And so, I think when you bring BREITs proprietary advantages together with Blackstones global institutional platform, this really resonates with our investors. Rowans compensation as an Apollo co-founder and senior managing director was not reported. As a final undertaking, Equilar scanned its broader database of companies to search for the largest executive payouts from 2015. Keenan, a 38-year-old Harvard graduate, is taking contrarian views, too. Today's environment, however, is more volatile. However, uncertainty looms given the changing conditions in the property sector and the broader economy. "Demand for studio space in Los Angeles has been strong, but rising land values have made building new facilities very expensive. Before joining Blackstone, he served as a managing director at the Praedium Group, a national real-estate investment firm. All rights reserved. Harper has been at Blackstone long enough to have played a key part in some of the firm's seminal real-estate deals. He is a graduate of the College of the Holy Cross. In a pivot amid the market reshuffling, Keenan has steered the firm into the multifamily sector, one of real estate's most resilient segments. 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. Investors is to identify areas of growth and then overweight those areas and sectors capital! 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An acceptance rate of 0.4 % @ ole.com, dan * * * @ ole.com, dan * * usa.com...

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