BREIT Names Katie Keenan CEO

Blackstone Real Estate has named Katie Keenan CEO and a director of Blackstone Real Estate Income Trust (BREIT), as well as global head of Blackstone’s Core+ Real Estate business.

Her appointment fills the void left in both roles by the death of Wesley LePatner, who was killed on July 28 in a shooting at 345 Park Avenue.

Keenen, 41, is a 13-year veteran of the company. She currently serves as global co-chief investment officer of Blackstone Real Estate Debt Strategies (BREDS) and CEO of Blackstone Mortgage Trust, a publicly traded commercial mortgage REIT managed by a subsidiary of Blackstone.  

An announcement from Blackstone said Keenan helped grow the BREDS platform to $77 billion. 

“Thanks to the dedication of Wesley and many others, BREIT represents some of Blackstone’s finest work,” Keenan said in the statement. “Its strong performance is driven by a portfolio that is about 90 percent concentrated in sectors that are benefiting from long-term, secular megatrends, particularly data centers. BREIT is incredibly well positioned, and I am looking forward to working with the team to capitalize on the ongoing real estate recovery.”

According to the Wall Street Journal, Keenan and LePatner were close, and Keenan believes LePatner would have encouraged her “to press ahead, despite tough circumstances.”

“She cared deeply about this business, and I’m going to be doing my best to help honor her legacy,” Keenan told the Journal.

LePatner was one of four people killed during a shooting at Rudin Management’s 345 Park Avenue the evening of July 28. Julia Hyman, an associate at Rudin, also died in the attack, which ended with the gunman taking his own life.   

Blackstone also announced several other appointments, including Tim Johnson as Keenan’s successor as CEO of Blackstone Mortgage Trust; Austin Peña as president and director of Blackstone Mortgage Trust; and Zaneta Koplewicz as co-president and director of BREIT, where she’ll serve alongside current co-president A.J. Agarwal.

BREIT’s Interim CEO, Rob Harper, will resume his long-time role as BREIT’s head of asset management.

Keenan’s appointment as global head of Core+ Real Estate will take effect immediately. The other promotions will take effect on Nov. 10.

Larry Getlen can be reached at lgetlen@commercialobserver.com.