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John McGrath, Executive VP of Strategy, Capital Allocation, and Co-Chief Investment Officer, will leave AIR effective September 30, 2023. Josh Minix will take sole responsibility for investment function. Transition expected to be seamless. Minix has a proven ability to source and underwrite investments.
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DENVER--(BUSINESS WIRE)--
Apartment Income REIT, Corp. (“AIR,” “AIR Communities,” or the “Company”) announced today that John McGrath, Executive Vice President of Strategy, Capital Allocation, and Co-Chief Investment Officer will leave the Company effective September 30, 2023. Josh Minix, Executive Vice President and Co-Chief Investment Officer since 2021, will take sole responsibility for AIR’s investment function effective that same date.
Terry Considine, AIR’s CEO, thanked Mr. McGrath for his many contributions to AIR. “John is returning to pursue personal entrepreneurial opportunities. John and Josh led a substantial upgrade to the AIR portfolio. I expect the transition to Josh to be seamless. Josh has been co-CIO for the past two years and has a proven ability to source and underwrite investments that use AIR’s comparative advantage in property operations to produce above average investment returns.”
Mr. Minix joined AIR in 2021 as Executive Vice President and Co-Chief Investment Officer and with 10 years as a real estate investment professional: three years as an Investment Manager with Partners Group (2019-21), sourcing investments totaling more than $4 billion; and seven years as a managing director at Avesta Communities (2012-19). He is a graduate of Harvard Law School and earned his undergraduate degree at George Mason University.
About AIR Communities
Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (“REIT”). AIR’s portfolio comprises 73 communities totaling 25,739 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management. The AIR Edge is a durable operating advantage in driving organic growth, as well as making possible the opportunity for excess returns for properties new to AIR’s platform. For additional information, please visit aircommunities.com.
air communities, a real estate investment trust (reit), is the owner and operator of best-in-class apartment communities across the united states. air communities professionally manages high-quality properties in most major markets, including boston, philadelphia, los angeles and miami. our communities are managed by outstanding team members who provide unbeatable customer service. exceptional operations start with a professional, well-trained team. residents at air communities benefit from the resources of a national company and the attention of a local team. customer satisfaction is the most important part of our mission. we conduct regular surveys to make sure we are meeting the needs of our residents and making their home the best it can be. you can expect us to always be welcoming, consistent, responsive, trusted, and exceptional.
