Aliza Herz, 27
Senior associate at Blackstone
Multifamily and industrial are at the top of portfolio wishlists for much of the industry. For Blackstone, they’re high-conviction themes, and Aliza Herz has already spent significant time working on both.
Today, Herz is part of the team that oversees Pure Industrial, Blackstone’s Canadian logistics portfolio company. Previously, she helped oversee LivCor — also a Blackstone portfolio company — which specializes in multifamily housing. Herz’s current role encompasses leasing, operations, budgeting, development, refinancing, valuations, balance sheet and liquidity management, and dispositions.
“What I love about my job is that no day is the same, and every day I learn something new,” Herz said. “It helps me to appreciate all that goes into building a strong business and driving results across various dimensions.”
The same goes for Herz’s time working on the multifamily side, where she primarily works on transactions. “It gave me deal experience, and I learned how to navigate tough negotiations and drive a process to get to the best outcome for the assets, for the business and — of course — for our investors.”
Herz’s notable transactions include the $1 billion sale of an 11-complex apartment portfolio to Equity Residential in August 2024. The deal was the largest U.S. multifamily purchase by any public REIT in the past seven years (as of the transaction announcement date).
Herz graduated from the University of Michigan’s Ross School of Business, where she was a key member of Michigan Business Women and a strong supporter of women’s causes. The past five years at Blackstone have presented plenty of market highs and lows, with tariffs causing the most recent bumps. For Herz’s business, trade uncertainty means tenants are taking longer to make decisions.
Blackstone’s people are ultimately what attracted Herz to the company in the first place — she recalls her initial instinct of her interviewers being “incredibly smart and hardworking, but most importantly, truly kind human beings that wanted me to succeed.”
And, she leans into the words of the firm’s president during tougher times in the market.
“Jon Gray always says, ‘Stay calm, stay positive, and never give up,’ ” she said. “There are good times and there are bad times, but staying focused on what drives value helps you find clarity and make the right decisions in times of dislocation. It’s always worked for me.”
