– USA, CA – Colony Credit Real Estate, Inc. (NYSE: CLNC) today announced the appointment of Michael J. Mazzei as CEO and President, effective April 1, 2020. He will be exclusively committed to the Company’s business and operations. Effective April 1, 2020, Andrew E. Witt will transition to COO, previously serving as Interim CEO and President.
Mr. Mazzei commented, “I look forward to joining Colony Credit Real Estate and the team to immediately engage with our borrower, partner and client relationships as well as re-engage with banking and financial institutions and their teams, with whom I’ve built close professional relationships over the years. It has been a privilege to be associated with Ladder Capital for these past 8 years. I thank their employees and directors for greatly contributing to my experience and wish them continued success.”
Thomas J. Barrack, Jr., Executive Chairman of Colony Capital, Inc., the Company’s external manager, stated, “We are delighted to have Mike join Colony and utilize his 35+ years of experience, knowledge of navigating through cycles, and strong executive leadership in the commercial real estate finance and mortgage REIT business at Colony Credit Real Estate.” Mr. Barrack continued, “On behalf of Colony Capital and the Company, our thoughts are with everyone affected by COVID-19 and we express our deepest gratitude to healthcare workers and others supporting the fight against this global pandemic. In light of current events and uncertainty in the global markets, we want to highlight that management’s priorities right now are focused on our customer relationships and stockholders, as well as daily efforts to preserve financial flexibility, take precautionary measures to support the balance sheet and business, and support our government and regulators as they navigate solutions to support the American economy through this delicate period.”
About Michael J. Mazzei
Michael J. Mazzei will serve as our CEO and President. Mr. Mazzei will lead and oversee Colony Credit Real Estate operations, including investment and credit risk, capital raising and relationship management activities among stockholders, clients, partners, financing counterparties, research analysts and rating agencies.
Mr. Mazzei has served as a member of the board of directors of Ladder Capital Corp since June 2017. Previously, Mr. Mazzei served as President of Ladder Capital from June 2012 through June 2017. From September 2009 to June 2012, Mr. Mazzei served as Global Head of the CMBS and Bank Loan Syndication Group at Bank of America Merrill Lynch. Prior to that, Mr. Mazzei served as Co-Head of CMBS and Commercial Real Estate Debt Markets at Barclays Capital from March 2004 to June 2009. Prior to Barclays Capital, Mr. Mazzei spent 20 years at Lehman Brothers, including 18 years in commercial real estate finance-related functions. Having started in commercial mortgage trading in 1984, Mr. Mazzei became the head of CMBS in 1991 and served as the Co-Head of Global Real Estate Investment Banking from March 2002 to February 2004.
Mr. Mazzei received a B.S. from Baruch College and a J.D. from St. John’s University School of Law, and is a graduate of the New York University Real Estate Institute.
About Colony Credit Real Estate, Inc.
Colony Credit Real Estate is one of the largest publicly traded commercial real estate credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities and net leased properties predominantly in the United States. Colony Credit Real Estate is externally managed by a subsidiary of leading global real estate and investment management firm, Colony Capital, Inc. Colony Credit Real Estate is organized as a Maryland corporation that elected to be taxed as a REIT for U.S. federal income tax purposes commencing with our initial taxable year ended December 31, 2018.
For more information : https://www.clncredit.com
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