BOSTON—Multifamily investment manager the Berkshire Group has formed a new board that includes Charles B. Leitner, its newly appointed CEO. The industry veteran joined Berkshire as president last October, and now assumes the CEO's chair as George Krupp, the company's co-founder, becomes chairman of the board.
Along with Krupp and his brother Douglas Krupp, who now serves as vice chairman and co-founded Berkshire in 1969, the board includes also Joseph Azrack, principal owner, Azrack & Co. and senior advisor to Apollo Global Management; C. Ronald Blankenship, who serves on the boards of Regency Centers Corp., Pacolet-Milliken Enterprises Inc. and Carefree Communities; and Jeanne Myerson, president and CEO of the Swig Co.
“We believe the combined experience of this board will benefit Berkshire as we continue to grow and further develop our capabilities as a real estate investment manager,” says Leitner. He adds that each director comes to the board with “an extensive track record in managing, growing and leading major institutional real estate investment organizations.”
This past May, Leitner became president and board chairman of Berkshire Income Realty, a multifamily REIT managed by Berkshire and controlled by affiliates of the company. With about $5.5 billion in assets under management at present, Berkshire currently is active with the Berkshire Multifamily Equity Fund as well as three value funds.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
