Stonemont Financial Group, a private real estate investment firm specializing in industrial development and net lease assets, announced today the hiring of industry veteran Bryan Blasingame as the company’s new president and chief investment officer. Blasingame, who previously served as executive vice president and chief investment officer at IDI Logistics, will provide strategic direction and oversight as the firm continues to enter and expand in key industrial markets throughout the U.S.
Blasingame joins with 26 years of experience in industrial real estate and brings an extensive background in leading industrial development ventures on a national level. At IDI Logistics, Blasingame helped raise and deploy capital for the firm while structuring strategic partnerships that played an integral role in allowing the company to become one of the world’s leading investors and developers of logistics real estate. He helped grow IDI’s asset portfolio to over $4 billion through the implementation of various ownership structures and directly oversaw the disposition of more than $5 billion in industrial assets.
As president and chief investment officer, Blasingame will lead Stonemont’s acquisition and development initiatives across the country while working to implement new systems and policies that will effectively manage the growing influx of capital raised by the firm. Blasingame will have direct oversight of the company’s portfolio and will also help recruit and retain top talent for Stonemont as the firm embarks on the next chapter of its growth story.
“I am pleased to join Stonemont and have an opportunity to work with a team of incredibly talented professionals who embody the entrepreneurial spirit,” said Blasingame. “Stonemont has staked out a unique position in the industry as a result of its ability to think outside the box and take bold but calculated risks that position it for long-term success. I look forward to integrating my existing relationships with the impressive list of partnerships the firm has already established around the country.”
Blasingame’s appointment coincides with several new hires that come in conjunction with the next phase of the company’s national expansion initiative. Stonemont is opening new office locations in Charlotte, Chicago, and Dallas, while also bolstering the current roster at its Atlanta headquarters after a time of unprecedented growth. The firm’s ability to source and capitalize on premium speculative development opportunities in areas with high barriers to entry have enabled Stonemont to grow its industrial portfolio exponentially over the last 24 months, in addition to 10 million square feet of Class A product currently under construction.
“Bryan’s leadership credentials and accomplishments over the last few decades speak for themselves, and he could not join at a better time given the accelerated growth Stonemont is now experiencing,” said Zack Markwell, Managing Principal and CEO at Stonemont Financial Group. “His ability to organize and manage complex investment vehicles will serve us well, and his extensive network of industry contacts is unrivaled. I have full confidence that Bryan will continue to spearhead new projects that create value and generate meaningful returns for our strategic development and investment partners.”
Industrial construction has reached record highs in many markets over the last year as burgeoning e-commerce growth continues to fuel demand for Class A assets in mission-critical logistics hubs. According to a new report from CBRE, nearly 100 million square feet was absorbed nationally in Q1, the third highest mark on record.
Read Original Story Here