About Blackstone Real EstateBlackstone is a global leader in real estate investing. Founded in 1991, Blackstone’s real estate business is the largest opportunistic real estate investment manager in the world, with more than $64 billion in investor capital under management. Blackstone’s portfolio includes hotel, office, retail, industrial and residential properties in the U.S., Europe and Asia. Major holdings include: Hilton Worldwide, Equity Office Properties, Brixmor shopping centers and London’s Broadgate office complex. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies they invest in, the companies they advise and the broader global economy. In addition to managing real estate private equity funds, our alternative asset management businesses include the management of private equity funds, hedge fund solutions, credit-focused funds and closed-end mutual funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.
Blackstone (NYSE:BX) and its Real Estate portfolio company, Invitation Homes, today announced that Bryce Blair will be joining Invitation Homes’ Board of Directors. Bryce currently serves as a Senior Advisor to McKinsey & Company and is on the Board of Pulte Homes (NYSE:PHM). He spent twenty years at AvalonBay Communities, where he most recently served as Chairman of the Board and Chief Executive Officer. AvalonBay is a REIT that develops, owns and manages multi-family residences throughout the United States. David Roth, a Senior Managing Director with Blackstone’s Real Estate business, said, “We are pleased that Bryce has agreed to lend his wealth of experience and talents to helping us build Invitation Homes into the premier single-family rental company in the country.” Nick Gould, Chairman and Chief Executive Officer of Invitation Homes, said, “Bryce’s background building a leading company in the multi-family space, and depth of operational experience will be tremendously helpful as we develop our platform and grow Invitation Homes into a market leader.” Bryce Blair said, “I am looking forward to working with Invitation Homes and Blackstone, as they innovate in the single-family rental space. The company is off to a great start and I see the potential to really help the company execute on its growth plans.” Bryce joined AvalonBay in 1993. He became Chief Executive Officer in 2001 and Chairman of the Board in 2002. During his tenure he also oversaw construction and acquisitions, served as Chief Investment Officer, Chief Operating Officer and President. Prior to joining AvalonBay, he was a Partner at Trammell Crow Residential, a real estate investment firm. He served on the Board of Carr America and currently serves on the board of Pulte Homes. He served as Chairman of the National Association of Real Estate Investment Trusts (NAREIT) and as a Trustee at the Urban Land Institute. He attended the University of New Hampshire and Harvard Business School.