AIR Communities Announces CIO Transition
August 30 2023 - 4:39PM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230830923823/en/
Matthew O’Grady Senior Vice President, Capital Markets (303)
691-4566 Mary Jensen Head of Investor Relations (303) 691-4349
investors@aircommunities.com
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