Blackstone unveils new CEO of commercial REIT

Commercial REIT Blackstone Mortgage Trust has announced that its president, Katie Keenan (pictured), has been promoted to chief executive officer, effective June 30.

Keenan will succeed Steve Plavin, who will take on the new role of senior managing director of Blackstone Group’s European debt business. Additionally, Keenan will join the commercial real estate lender’s board of directors.

“Katie is the ideal person to lead BXMT through its next chapter. Since joining the BXMT leadership team, she has taken on increasing responsibility for the business and proven to be an exceptional investor, strategist and manager,” Plavin said. “I look forward to joining the team in London and leading the growing BREDS Europe business while working closely with Katie to ensure a seamless transition.”

Keenan joined Blackstone in 2012 and was named president of the REIT in 2020. Blackstone said that Keenan was promoted to head the REIT as part of a multi-year transition plan, crediting her role in the company’s debt strategy during the pandemic.

“I am grateful to Steve for his leadership in building BXMT into the premier commercial mortgage REIT in the market, and it has been a great privilege to work closely with him in managing BXMT over the past several years,” Keenan said. “The company has an excellent track record and draws from a deep bench of talent and experience as part of the Blackstone platform. We are extremely well-positioned for future performance and growth, and I look forward to continuing to work closely with Steve in the transition and in his new role in Europe.”