Fairstead Management Hires Related’s Shah Alam as President
Shah Alam has been tapped to become president of Fairstead Management, the firm announced.
Alam comes to Fairstead from Related Companies’ management arm, where he served as senior vice president.
The 28-year veteran of the multifamily industry has managed more than 110,000 apartments across the U.S. during his career. He joins Fairstead just as it has added 5,000 apartments to its portfolio during the past two years, including 700 apartments in South Florida this year.
“As a national leader in affordable housing preservation, Shah brings exactly the sort of management experience we need,” said Will Blodgett, a founding partner at Fairstead.
Before Related, Alam was executive vice president at Edgewood Management, where he oversaw a 32,000-unit portfolio, including 27,000 affordable apartments.
Fairstead and Project FIND last week announced that they had acquired the Park 79 Hotel on the Upper West Side with plans to convert the property into affordable senior housing.
“At a time when the need for affordable housing is more urgent than ever, I am proud to head up the management company at Fairstead and advance their goal of providing high quality housing for every resident, regardless of income,” Alam said.