Blackstone REIT Appoints New CFO and Treasurer
The board of Blackstone Real Estate Income Trust, a publicly registered non-traded REIT, has appointed Anthony Marone, Jr. to chief financial officer and treasurer.
The board of Blackstone Real Estate Income Trust, a publicly registered non-traded REIT, has appointed Anthony Marone, Jr. to serve as the company’s chief financial officer and treasurer, effective March 31, 2021, according to a filing with the Securities and Exchange Commission.
Marone is replacing Paul Quinlan, who is “resigning in recognition of Mr. Marone’s experience and strong qualifications for the position and will carry on his duties as chief financial officer for the Blackstone Real Estate group,” the REIT stated in the filing.
Marone is a managing director of Blackstone and serves as CFO of Blackstone Real Estate Debt Strategies; CFO, assistant secretary and principal accounting officer of Blackstone Mortgage Trust Inc. (NYSE: BXMT); and CFO and treasurer of the Blackstone Real Estate Income Funds.
Prior to joining Blackstone in 2012, Marone was a vice president and controller at Capital Trust Inc., the predecessor business to Blackstone Mortgage Trust. Previously, he worked in the real estate assurance practice of PricewaterhouseCoopers LLP, where he provided audit and other assurance services to various real estate companies.
Marone holds a bachelor’s degree and an MBA from Rutgers University and is a certified public accountant and chartered global management accountant.
Blackstone Real Estate Income Trust’s initial $5 billion offering raised $4.9 billion in investor equity from January 1, 2017 to January 1, 2019. The company later registered a $12 billion follow-on offering, and as of mid-January 2021, received $10.2 billion in investor proceeds. The REIT’s second follow-on offering, for $24 billion in shares of common stock, was recently declared effective by the SEC.
As of January 31, 2021, the REIT owned a property portfolio valued at roughly $38 billion and had positions in real estate-related securities and loans totaling $4.6 billion. The company invests in multifamily, industrial, hotel, and retail properties, and real estate-related securities and loans.
