Rodin Global Property Trust Inc., a publicly registered non-traded REIT sponsored by Cantor Fitzgerald Investors, announced that Kenneth Carpenter tendered his resignation as president of the company. The board appointed Christopher Milner to fill the vacancy, effective immediately, and Milner will also serve as president of the advisor.
In a filing with the Securities and Exchange Commission, the REIT said that Carpenter’s resignation was not based on any disagreement with the company on any matter relating to the its operations, policies or practice.
Milner has served as the head of commercial real estate investment management at Cantor Fitzgerald L.P. since March 2013 and has served as senior portfolio manager of Resolution Recovery Partners Manager LLC, an institutional fund managed by a Cantor affiliate.
In May 2019, Milner became a member of the investment committee of the manager for Cantor Silverstein Opportunity Zone Trust, Inc., a fund that is co-sponsored by Cantor Fitzgerald Investors. Milner is also a member of the board of the Institute for Portfolio Alternatives, an alternative investment industry trade group.
Previously, Milner spent 14 years at BlackRock and was a co-founder of their commercial real estate debt business, global head of commercial real estate debt, and president of the Carbon Capital series of private real estate debt funds. He served on BlackRock’s corporate leadership, real estate executive, and global real estate investment committees.
Milner received an MBA in finance with a concentration in real estate from Indiana University and a bachelor’s degree in economics from DePauw University.
In other company news, the REIT recently extended its initial public offering and registered a proposed $1.25 billion follow-on offering as a perpetual life REIT.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe and raised approximately $141.6 million in investor equity, as of March 17, 2020. The REIT’s portfolio includes 13 real estate properties purchased for $182.8 million, as well as $25.6 million in real estate-related investments, as of December 31, 2019.