Coastal Ridge Real Estate appointed industry veteran Mark Yale as chief financial officer, a new role at the firm.
Yale served most recently as executive vice president and chief financial officer of publicly traded REIT Washington Prime Group following the company’s 2015 acquisition of Glimcher Realty Trust. He was responsible for the company’s financial management and reporting and oversaw the accounting, finance, investor relations, treasury, tax and information services functions for the company. He previously served as CFO at Glimcher since 2004.
At Coastal Ridge, Yale will be based at the firm’s Columbus, Ohio, headquarters and will be responsible for guiding the overall financial performance of the firm.
“The addition of Mark to our executive leadership team will allow Coastal Ridge to continue our expansive growth,” said Patrick McBride, co-founder and managing partner at Coastal Ridge, which has $4 billion in assets under management. “He brings a wealth of institutional real estate knowledge, a clear sense of direction, and steady leadership to our team.”
The firm is focused on multi-family real estate and includes divisions to oversee investment management, property management, and development. Coastal Ridge’s current portfolio is comprised of 30,000+ conventional apartment homes and student housing beds spanning 53 distinct markets.
Last June, Coastal Ridge Real Estate and Goldman Sachs Asset Management’s Real Estate team bought the Commons at Sawmill, a 448-bed student housing community serving students at Northern Arizona University. The deal value was not disclosed.
