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Board member at 2 Colony NorthStar-backed REITs resigns

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Board member at 2 Colony NorthStar-backed REITs resigns

NorthStar/RXR New York Metro Real Estate Inc. co-chairman, President, CEO and board member Daniel Gilbert resigned, effective Dec. 15.

Effective the same day, Gilbert also resigned as executive chairman and a board member at NorthStar Healthcare Income Inc.

Neither of the departures is tied to any conflict with the respective real estate investment trusts, which are sponsored by Colony NorthStar Inc., according to separate filings.

To fill the newly created vacancy, NorthStar Healthcare promoted Robert Gatenio to executive board chairman from vice chairman and company President and CEO Ronald Jeanneault was tapped to assume the vice chairman role. At NorthStar/RXR, David Schwarz was named president, CEO and a board member, and Scott Rechler will remain sole board chairman.

Gatenio, Jeanneault and Schwarz are all managing directors at Colony NorthStar. Additionally, Gatenio is a co-head of U.S. investment management at Colony NorthStar, and Schwarz is a chairman of NorthStar/Townsend Institutional Real Estate Fund Inc.