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Carter Validus Enhances Leadership Structure

June 25, 2019

Carter Validus Enhances Leadership Structure

June 25, 2019 | Luke Schmidt | Blue Vault

On June 12, 2019, Carter Validus Mission Critical REIT, Inc. (“CVMC”) announced the appointment of Kay Neely to the roles Chief Financial Officer, Treasurer, and Secretary of CVMC, effective immediately.  Carter Validus Mission Critical REIT II, Inc. (“CVMCII”) made a similar announcement on the same date, appointing Ms. Neely to the role of Secretary of CVMCII, effective immediately.  She continues to be Chief Financial Officer and Treasurer for CVMCII.  Ms. Neely replaces Todd Sakow in these roles.  Mr. Sakow resigned from these positions but will remain with the Carter Validus Company as a Senior Advisor.

“Ms. Neely is a strong fit for both her present and future roles within Carter Validus as we look to take the Company to the next level,” commented Michael Seton, Chief Executive Officer of Carter Validus.  “She has a strong level of accounting expertise stemming from her extensive public accounting experience at KPMG prior to joining Carter Validus.  This appointment comes as a natural move within the organization as our two companies complete the merger process”

Ms. Neely’s duties as CFO of both companies include, among other things, overseeing the accounting and financial reporting, including SEC reporting and compliance, the capital markets process as it relates to debt markets, hedging and investor relations. She will also continue to be actively involved in the private offerings platform of Carter Validus.

“With Kay’s appointment to Chief Financial Officer of CVMC REIT in September 2018 and now her appointment to Chief Financial Officer of CVMC REIT II, we have successfully aligned titles and solidified the leadership team, the strongest since the company’s founding,” commented Mr. Seton.  Ms. Neely joins an already robust leadership and executive team comprised of Michael Seton (CEO), Jason Reed (CIO, Data Centers), Jon Sajeski (CIO, Healthcare), and Jamie Yoakum (CAO).

With the public offerings of both CVMC and CVMCII now closed, Carter Validus is focused on two primary points, the proposed merger of CVMC and CVMCII in the second half of 2019 and fundraising as it relates to Carter Validus Data Center Growth & Income REIT, LLC.  No changes in strategy will occur with the appointment of Ms. Neely to her new positions.

Kay C. Neely has served as Chief Financial Officer and Treasurer of Carter Validus Mission Critical REIT II, Inc. and Carter Validus Advisors II, LLC since September 2018, and as Secretary of Carter Validus Mission Critical REIT II, Inc. and Carter Validus Advisors II, LLC since June 2019. Ms. Neely has also served as Chief Financial Officer, Treasurer and Secretary of Carter Validus Mission Critical REIT, Inc. and Chief Financial Officer and Secretary of Carter/Validus Advisors, LLC since June 2019. Ms. Neely has also served as the Chief Financial Officer, Treasurer and Secretary of Carter Validus REIT Management Company II, LLC and Carter/Validus REIT Investment Management Company, LLC since June 2019. In addition, Ms. Neely has served as the Executive Vice President of Finance and Accounting of CV Data Center Growth & Income REIT Advisors, LLC since November 2018, and has served as President of CV Data Center Growth & Income Fund Manager, LLC and Chief Executive Officer of CV Data Center Real Estate Management Services, LLC since June 2019. Ms. Neely served as the Senior Vice President of Accounting of Carter Validus Advisors II, LLC from January 2016 through September 2018, and as the Senior Vice President of Accounting of Carter/Validus Advisors, LLC from January 2016 through June 2019, where she was responsible for the oversight of the accounting and financial reporting functions, as well as managing all accounting department personnel. Ms. Neely brings approximately 18 years of real estate accounting and operations experience.

Ms. Neely began her career with KPMG LLP in 1999 as a staff accountant in the audit practice and became a manager in June 2003, serving in such capacity until June 2005.  From June 2005 to January 2008, Ms. Neely was an audit senior manager with KPMG LLP, where she planned, organized, staffed and administered audit engagements for public and private entities primarily in the real estate sector, including real estate investment trusts and investment funds.  From March 2010 to January 2016, Ms. Neely was Associate Director of Audit Resource Management at KPMG LLP, where she managed the daily operations and financial planning for audit practices in 10 offices located in the Southeast and Puerto Rico, which consisted of over 400 audit partners, managers and staff. Ms. Neely graduated in the top 10% of her class at Emory University, Goizueta Business School in Atlanta, Georgia in 1998 with a Bachelor of Science Degree in Business Administration with concentrations in Accounting and Finance.  She holds a current Certified Public Accountant license in the state of Georgia.

Sources:  Carter Validus, SEC, Blue Vault

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