This piece is the first in a series of articles examining the racial diversity of the boards and executive leadership of the biggest companies in commercial real estate. To read the introductory editor’s note for this series, click here. Stay tuned for the next installments on CRE brokerage and the finance industry.
The industry’s largest real estate investment trusts control hundreds of billions of dollars in real estate and employ tens of thousands of people, but they have failed to diversify their executive ranks.
The nation’s reckoning on race this year has led many REITs to release statements about the need to address systemic inequalities, and the real estate giants will need to start by pushing for racial equality at their own companies. A Bisnow analysis of 26 of the largest REITs shows the overwhelming majority of their top executives and board members are White.
Bisnow’s analysis comprised the 26 commercial real estate-focused REITs that are part of the S&P 500, showing a cross section of the nation’s largest REITs across all major property sectors. These 26 companies collectively employ more than 69,000 people and bring in over $66B in annual revenue.Across the 26 REITs, there…
Read the full story here.