Cadre’s CEO, Ryan Williams, announced today that he is appointing Allen Smith, former CEO of Four Seasons Hotels and Resorts and Prudential Real Estate Investors, as President.
“Allen brings enormous creativity and a proven track record of success,” said Williams. “Cadre’s growth over our first five years has been incredible, and I’m even more excited about the opportunity that lies ahead over the next five years and beyond. Allen is going to be an essential part of our future.”
Smith is a formidable force in the industry with a track record of driving significant growth and scale across global organizations and investment platforms, while also building top-performing teams. As President and CEO of Four Seasons, he oversaw record corporate earnings in 2018 and also led a major effort to revamp the organization’s digital strategy and signed a record number of hotel owner partnerships. Smith brings to Cadre deep investing experience as well. Prior to joining Four Seasons, he spearheaded Prudential Real Estate Investors’ growth into a global organization and developed a cohesive investment strategy for the organization. Smith played a substantial role in PREI’s capital raising efforts, including raising $5B for new fund strategies while growing AUM 300% for PREI’s flagship open-end fund.
“Real estate has been one of the slower industries to adapt to new technology and innovation,” Smith said. “This creates enormous opportunity to break down traditional barriers and level the playing field for investors, and I’m excited to work with Ryan and the terrific team he’s built to write the next chapter.”
Smith will report to Williams, and will work closely with Cadre’s leadership team on strategic partnerships and growth strategies across the company. “Having Allen on board will provide me with even more bandwidth to focus on strategy, overall business development, and closing impactful partnerships that we will develop in 2020 and beyond. This is really an example of one-plus-one-equals-three.”
The views expressed above are presented only for educational and informational purposes and are subject to change in the future. No specific securities or services are being promoted or offered herein.
This communication is not to be construed as investment, tax, or legal advice in relation to the relevant subject matter; investors must seek their own legal or other professional advice.
Performance Not Guaranteed
Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are not guaranteed and may not reflect actual future performance.
Risk of Loss
All securities involve a high degree of risk and may result in partial or total loss of your investment.
Liquidity Not Guaranteed
Investments offered by Cadre are illiquid and there is never any guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved.
Not a Public Exchange
The Cadre Secondary Market is NOT a stock exchange or public securities exchange, there is no guarantee of liquidity and no guarantee that the Cadre Secondary Market will continue to operate or remain available to investors.
Opportunity Zones Disclosure
Any discussion regarding “Opportunity Zones” — including the viability of recycling proceeds from a sale or buyout — is based on advice received regarding the interpretation of provisions of the Tax Cut and Jobs Act of 2017 (the “Jobs Act”) and relevant guidances, including, among other things, two sets of proposed regulations and the final regulations issued by the IRS and Treasury Department in December of 2019. A number of unanswered questions still exist and various uncertainties remain as to the interpretation of the Jobs Act and the rules related to Opportunity Zones investments. We cannot predict what impact, if any, additional guidance, including future legislation, administrative rulings, or court decisions will have and there is risk that any investment marketed as an Opportunity Zone investment will not qualify for, and investors will not realize the benefits they expect from, an Opportunity Zone investment. We also cannot guarantee any specific benefit or outcome of any investment made in reliance upon the above.
Cadre makes no representations, express or implied, regarding the accuracy or completeness of this information, and the reader accepts all risks in relying on the above information for any purpose whatsoever. Any actual transactions described herein are for illustrative purposes only and, unless otherwise stated in the presentation, are presented as of underwriting and may not be indicative of actual performance. Transactions presented may have been selected based on a number of factors such as asset type, geography, or transaction date, among others. Certain information presented or relied upon in this presentation may have been obtained from third-party sources believed to be reliable, however, we do not guarantee the accuracy, completeness or fairness of the information presented.