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This is the third installment in Bisnow's series examining the racial diversity of the boards and executive leadership of the biggest companies in commercial real estate. To read the introductory editor’s note for this series, click here. To read Part 1, on REITs, click here. To read Part 2, on commercial brokerages, click here.
With trillions of dollars at their disposal, the banks, life insurance companies, pension funds and private equity investors that make up the commercial real estate finance industry, perhaps more than any other, determine which communities get investment and which don’t.
Their blockbuster deals grab headlines foretelling economic prosperity across American suburbs, towns, cities and neighborhoods — but all too often, those dollars do not flow toward communities of color. The titans of the finance industry are community kingmakers, and they are managed mostly by White men.
Out of every 20 executives at the two dozen biggest funders of commercial real estate, 17 are White, according to a Bisnow analysis of their leadership.
Most of these businesses have made commitments that they are working diligently to diversify — especially this summer, when police killings of Black people sparked a nationwide outcry.“The events of the past week have created a sense of true urgency that has arisen across our nation, particularly in view of…
Read the full story here.
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