Julian Carey has been promoted to the role of chief executive officer of Industrials REIT following company founder and current CEO Paul Arenson’s decision to step away from the day-to-day running of the REIT.
Arenson founded the company in 1991 and led the listing of Stenprop, as it was then known, on the Johannesburg Stock Exchange in 2015 and the London Stock Exchange in 2018. He is leaving the CEO role to focus on his other business interests, but he will remain a senior strategic adviser to the business.
Carey, who is currently managing director of the company, joined Industrials REIT in July 2017 when C2 Capital, the specialist MLI fund manager he founded in 2009, was acquired by the company.
Arenson said: “Having founded the company back in 1995, and after almost 30 years with the business before its recent sale to Blackstone, I feel that now is the right time to step back and hand the day-to-day reins of the business to Julian. Together we have built Industrials to a market leading MLI business, with a powerful tech-enabled management platform.
“I am very proud of what we have achieved at Industrials and I have no doubt that Julian is the right person to lead the company through the next stage of its growth. I look forward to continuing to contribute to the ongoing success of the business as an advisor and wish Julian every success in his new role.”
Carey added: “Paul’s leadership of the business over the last 28 years and foresight in identifying the potential of the MLI sector saw Industrials REIT evolve into a market-leading business. Working with him over the past six years has been an absolute pleasure and I am delighted that he has agreed to remain with us and continue to share his knowledge and experience as a senior strategic advisor.
“Under the new ownership, the company is embarking on an exciting new chapter which will bring together Industrials’ specialist MLI operating platform with Blackstone’s expertise in the capital markets to significantly grow the business.”
