“We’re focused on apartments as well urban industrial because the demand drivers and target locations have converged,” he says. Priorities for the coming year will include the Class A and B multifamily space and industrial value-add sector. “Growth is as defensive today as it is offensive.”įor Bates, remaining at the top requires innovation, reinvestment in GID’s operating platforms, and recruitment and retention of a top leadership team. “Owners with scale can achieve operating efficiencies small owners cannot,” he says. “We are fortunate to have established partnerships with some of the world’s leading investors in these areas.”īates adds that to get to this growth goal, investments in people, technology, and data also are significant. “GID’s growth strategy is ambitious, but it is narrowly focused on apartments, mixed-use development, and industrial, where we have entrenched competitive advantage, and we invest significantly to remain a top owner/operator,” he says. “We have been preparing for this transition for years and are highly confident we have the right individuals and an extraordinary executive team in place to ensure business continuity and innovation.”īates will continue to serve on the executive team and on various investment committees as well as source new capital relationships, provide direct management oversight of GID’s investment management businesses, and investigate new lines of business.Ī goal for Bates is to take GID, including its multifamily brand Windsor Communities, from $20 billion gross asset value to $50 billion in a decade. ![]() The foundation has been set, and the next generation is bound to continue the winning streak,” says Bates. “GID’s path ahead was made possible because of what Bob and Gardner have accomplished in their roles for over 20 years. He also was an executive at GE Real Estate and served in various capacities over a 17-year career. Prior to that, he spent six years at privately owned Building and Land Technology (BLT) in Stamford, Connecticut, where he built and led BLT’s third-party real estate private equity platform. His real estate investment, development, and operating knowledge, leadership skills, sound judgment, and talent for inspiring others will ensure our continued success in the future.”īates joined the Boston-based company in January 2017 and had been president and chief operating officer. ![]() “GID is stronger now than at any point in our 60-year history, and Greg brings not only a commitment to preserving the legacy of the company but using our many strengths to grow the enterprise. “A great deal of thoughtful and transparent planning has gone into this transition over an extended period of time,” says Gardner Wallace, GID chairman.
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