BOSTON--(BUSINESS WIRE)--Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced it has appointed John W. Guinee III to the Board of Directors. Mr. Guinee will serve as an independent director and will be a member of the Company’s Audit Committee.
Mr. Guinee was most recently Managing Director at Stifel, where he covered over 40 REITs in the office, industrial, multifamily and diversified property sectors. During his 15-year career as a sell-side analyst, he led the creation of new valuation methods for REITs, including estimating premiums and discounts to replacement cost and estimating the value creation of REITs over time. Prior to that time, he was Executive Vice President and Chief Investment Officer at Duke Realty, and Executive Vice President and Chief Investment Officer at Charles E. Smith Residential Realty during periods of significant growth and transformation for both companies. He also served for eleven years as Managing Director at LaSalle Investment Management and LaSalle Partners. He began his real estate career as a development officer at Hines in San Francisco. Mr. Guinee currently serves on the Artemis Real Estate Partners Advisory Board, as well as the board of Irvine Nature Center.
Jeff Witherell, Chairman and Chief Executive Officer of Plymouth, noted, “As we conducted our search for potential additions to the board, we recognized that John’s unique perspective as a REIT research analyst on the sell-side and buyside and as a chief investment officer for two REITs, made him a very compelling candidate. John has extensive experience in the REIT industry and is passionate about the industrial sector and the opportunities we have ahead of us. We look forward to his counsel and contributions to our continued growth.”
John Guinee added, “I could not be more excited to help Jeff and a very high-quality team at Plymouth Industrial REIT create more shareholder value. The low basis, value-add investment strategy is unique, and perhaps underappreciated, in the industrial REIT space. Plymouth offers an excellent entry point for investors relative to the larger industrial REITs.”
About Plymouth
Plymouth Industrial REIT, Inc. is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.
