Blackstone REIT names Wesley LePatner CEO

Blackstone Real Estate Income Trust announced that current Chief Operating Officer, Wesley LePatner, will become BREIT’s Chief Executive Officer as of January 1, 2025. She will succeed Frank Cohen, who, after nearly thirty years, plans to retire from Blackstone at year-end. Mr. Cohen will remain Chairman of BREIT’s Board of Directors. Kathleen McCarthy and Nadeem Meghji, Global Co-Heads of Blackstone Real Estate, said: “This announcement effectuates the next stage of BREIT’s long-planned succession. We are incredibly fortunate to have a colleague of Wesley’s caliber, who has been intimately involved with BREIT since inception. Wesley will seamlessly step in at a time when real estate values have begun to recover. Frank has been a valuable partner and mentor to all of us and we are incredibly grateful for his dedication to the business.” Jon Gray, President & COO of Blackstone, said: “For almost 30 years, Frank has been a friend, partner and enormous contributor to the success of Blackstone Real Estate. We will all miss him. We are quite pleased he will continue as Chairman of BREIT. We are confident that Wesley will continue to drive exceptional performance through her tremendous talent and sector expertise. We couldn’t be prouder of how BREIT has delivered for investors since inception seven and a half years ago.”