PREP Launches Industrial Real Estate Investment Strategy Under Salata and Brandt's Leadership
CLEVELAND, OH / ACCESSWIRE / August 19, 2024 / Provider Real Estate Partners ("PREP") ("Company"), a dedicated real estate fund management and advisory firm, is pleased to announce the appointments of Chris Salata and Keith Brandt as partners and co-presidents of the Company's newly created Industrial vertical.
Both +20-year real estate development veterans and members of the Midwest Commercial Real Estate Hall of Fame, Salata and Brandt most recently served as senior executives at Industrial Commercial Properties LLC ("ICP"). At ICP, they played key roles in growing and optimizing the company's real estate assets into one of the largest privately held industrial and commercial portfolios in the Midwest, which includes over 150 properties totaling more than 46 million square feet, per ICP's website. Salata served as ICP's Chief Operating Officer since 2018 and Brandt served as Executive Vice President, spearheading a national initiative to identify and repurpose former regional malls and retail properties.
"We are thrilled to add Chris and Keith as partners to our talented team," said Joe Boehm III, Chief Executive Officer and co-founder of PREP. "They are both well-respected in the commercial real estate community and bring exceptional experience and successful track records to our firm. Their backgrounds and versatile skill sets will allow them to add value across multiple facets of our existing and new strategies."
PREP was founded in 2020 by Joe Boehm III and the Company's Chief Financial Officer Bob O'Brien, both long-time senior executives of Forest City Realty Trust. The Company commenced operations with four original partners, as Bill Ross and Joe Boehm IV joined PREP as Chief Operating Officer and Chief Investment Officer, respectively. PREP launched its first investment fund in 2021 focused on acquiring healthcare real estate and, since then, has purchased or served as an advisor on more than $100 million of stabilized medical outpatient building and ambulatory surgery center acquisitions across the country. PREP is supported by a highly experienced and accomplished Board of Advisors, composed of Art Anton, Wayne Chambless, David Coury, Fred DiSanto, Lou Joseph, and James Ratner.
"Keith and I are extremely excited to join the PREP team," Salata noted. "We believe the industrial redevelopment strategy that we have implemented successfully aligns strongly with PREP's focus on identifying and executing commercial real estate investment strategies where the Company has a competitive edge to drive strong risk-adjusted returns for its partners. Like healthcare, industrial real estate benefits from long-term secular tailwinds that we believe make it an attractive sector for capital deployment."
About PREP
Provider Real Estate Partners, LLC is a Cleveland, Ohio-based commercial real estate fund management and advisory firm. Founded in 2020, PREP focuses on acquisition and development strategies across healthcare, industrial, and retail. PREP has acquired or advised on acquisitions of more than $100 million of assets throughout the United States. For more information, please visit www.PREPfunds.net.
Contact Information
Joe Boehm IV
Chief Investment Officer
jboehmiv@prepfunds.net
(216) 337-8684
SOURCE: Provider Real Estate Partners
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