Pillar Income Asset Management and Affiliates Announce New President and CEO
DALLAS, January 11, 2022–(BUSINESS WIRE)–Pillar Income Asset Management (“Pillar”) is pleased to announce that Bradley J. Muth has joined the Company as President and Chief Executive Officer. In addition, Mr. Muth was also recently appointed President and Chief Executive Officer of American Realty Investors, Inc., Transcontinental Realty Investors, Inc. and Income Opportunity Realty Investors, Inc. (collectively referred to below as the “Companies”), each of which is managed by Pillar.
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Bradley Muth, new president and CEO of Pillar Income Asset Management. (Photo: BusinessWire)
Mr. Muth will work with the companies’ board of directors to execute a long-term plan to expand their portfolio of multi-family apartment developments in Sunbelt Markets. The Companies’ real estate partners control a significant number of development sites on which the Companies plan to develop more than 15,000 apartments. The companies plan to selectively divest non-core assets to focus on this long-term strategy.
Mr. Muth said, “I am honored and delighted to join and lead the Pillar team at this incredibly opportunistic time in its already successful history. The companies are strategically positioned for extraordinary and sustainable growth that will serve all of their stakeholders for many years to come.”
Mr. Muth is an experienced real estate executive with over 30 years of active involvement in development, acquisitions, finance, asset management and portfolio management. His experience includes both high-level strategic and execution-focused positions for large private multi-family owner/operators in the United States. Prior to joining the Pillar team, Bradley served as a Senior Managing Director at ValueRock Realty Partners in California and served as a member of the company’s Executive and Investment Committees overseeing the execution of all developments, including including development and redevelopment activities.
Prior to ValueRock, Mr. Muth spent most of his career at ING Realty Partners, a subsidiary of ING Group of the Netherlands as a Partner and Managing Director, then at Madison Marquette of San Francisco and Washington DC as a portfolio management. Through leadership roles at these companies, he has overseen the acquisition, development and portfolio management of more than $8 billion in renewable energy investments, including more than 20,000 apartments across the United States. Principal roles have included overseeing all corporate and organizational functions, including portfolio management, capital markets, development, acquisitions, asset management and internal operations activities.
About Pillar Income Asset Management
Pillar Income Asset Management, Inc. is a Dallas-based property management company that develops and manages over $2.5 billion in real estate for public and private real estate entities. Affiliates managed or advised by Pillar include American Realty Investors, Inc. (NYSE: ARL); Transcontinental Real Estate Investors, Inc. (NYSE: TCI); Income Opportunity Realty Investors, Inc. (US NYSE: IOR); and Adobe Properties Inc.
About Transcontinental Realty Investors, Inc.
Transcontinental Real Estate Investors has a strong focus on creating greater shareholder value through the acquisition, financing, operation, development and sale of real estate in all geographic regions of the United States. A company listed on the New York Stock Exchange, Transcontinental is listed under the symbol “TCI”. Transcontinental generates income through the ownership and professional management of income-producing apartments and office properties that are “undervalued” or “underperforming” at the time of acquisition. Value is added under Transcontinental ownership, and properties are repositioned in higher classifications through physical upgrades and improved management. Transcontinental has significantly expanded its development capabilities associated with luxury apartment homes through its wholly owned subsidiary Abode Properties, primarily on land it owns or acquires.
About American Realty Investors, Inc.
American Realty Investors, Inc., a Dallas-based real estate investment firm, owns a diversified portfolio of equity real estate located across the United States, including office buildings, apartments, shopping centers and land developed and undeveloped. The Company invests in real estate through direct ownership, leases and partnerships and invests in mortgages on real estate. The Company also holds mortgages. For more information, visit the Company’s website at www.americanrealtyinvest.com.
About Income Opportunity Realty Investors, Inc.
Income Opportunity Realty Investors, Inc., a Dallas-based company that holds both mortgages and notes receivable. For more information, visit the Company’s website at www.revenuopp-realty.com
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