Carter Validus Mission Critical REIT II COO to Retire at Year End

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, announced that Lisa Drummond plans to retire from her roles as chief operating officer and secretary around December 31, 2018, positions she has held since the company's formation in February 2013.

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, announced that Lisa Drummond plans to retire from her roles as chief operating officer and secretary around December 31, 2018, positions she has held since the company’s formation in February 2013.

Drummond also plans to retire from her role as secretary of Carter Validus Mission Critical REIT, as well as COO and secretary of each REITs’ external advisor.

“All of us at Carter Validus would like to thank Lisa for her significant contribution to the company since its formation,” said Michael Seton, chief executive officer and president. “I have full confidence that we will continue to successfully execute on our strategy and realize the best possible outcomes for our stockholders.”

The company said that its management team and board are implementing a succession plan to prepare for Drummond’s departure.

In other company news, the board increased its size from five to seven directors and elected Seton and Roger Pratt as directors to fill the newly created vacancies. Pratt was also appointed as a member of the audit committee.

Pratt currently serves as a senior advisor to the Elite International Investment Fund, a privately-owned real estate investment management company with offices in Beijing and Los Angeles, and as an executive in residence at the Steers Center for Global Real Estate at Georgetown University’s McDonough School of Business.

Carter Validus Mission Critical REIT II invests in net leased data center and healthcare assets and raised approximately $1.2 billion in investor equity after launching its initial primary offering in May 2014, according to Summit Investment Research.

The company’s follow-on offering, which is scheduled to close on November 27, 2018, launched in November 2017 and raised $86.9 million as of July 23, 2018. The REIT’s $1.7 billion portfolio was comprised of 75 properties (28 data center and 47 healthcare properties) as of July 9, 2018.

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