Home News Carter Validus REITs Name New Financial Exec Following Resignation of Todd Sakow

Carter Validus REITs Name New Financial Exec Following Resignation of Todd Sakow

Carter Validus Mission Critical REIT Inc. and Carter Validus Mission Critical REIT II Inc., two affiliated publicly registered non-traded real estate investment trusts, have notified the Securities and Exchange Commission that Todd Sakow resigned from his roles at both companies on Monday.

Carter Validus Mission Critical REIT Inc. and Carter Validus Mission Critical REIT II Inc., two affiliated publicly registered non-traded real estate investment trusts, have notified the Securities and Exchange Commission that Todd Sakow resigned from his roles at both companies this week.

Sakow resigned as chief financial officer, treasurer and secretary of Carter Validus Mission Critical REIT, and as chief operating officer and secretary of Carter Validus Mission Critical REIT II. He joined Carter Validus in July 2010 as chief financial officer and treasurer of Carter/Validus REIT Investment Management Company LLC.

In connection with his resignation, Kay Neely was appointed chief financial officer, treasurer and secretary of Carter Validus Mission Critical REIT, as well as secretary of Carter Validus Mission Critical REIT II, where she currently serves as chief financial officer and treasurer. The company has not disclosed who will take on the COO role.

Neely has approximately 18 years of real estate accounting and operations experience and has held a number of high-level financial positions at various Carter Validus-affiliated entities in recent years.

She started her career with KPMG LLP in 1999 as a staff accountant in the audit practice, and after a series of promotions, served as an audit senior manager, where she planned, organized, staffed and administered audit engagements for public and private entities primarily in the real estate sector, including real estate investment trusts and investment funds.

From March 2010 to January 2016, Neely was associate director of audit resource management at KPMG, where she managed the daily operations and financial planning for audit practices in 10 offices located in the Southeast and Puerto Rico, which consisted of more than 400 audit partners.

Neely earned a bachelor’s in business administration from Emory University’s Goizueta Business School in Atlanta, Georgia with concentrations in accounting and finance, and holds a certified public accountant license in the state of Georgia.

Carter Validus Mission Critical REIT owns a $1.2 billion portfolio comprised of 61 healthcare properties, as of March 2019. The company’s offering was declared effective by the SEC in December 2010 and closed in June 2014 after raising more than $1.7 billion in investor equity.

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. The company’s follow-on offering, which closed in November 2018, raised $86.9 million as of July 23, 2018. The REIT’s $1.9 billion portfolio was comprised of 85 properties as of March 2019.

Carter Validus Mission Critical REIT announced plans to merge with Carter Validus Mission Critical REIT II in a stock and cash transaction, potentially creating an entity valued at approximately $3.2 billion. If approved, the transaction is expected to close in the second half of 2019.

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