Blackstone Inc. announced Nadeem Meghji will step down as global head of real estate at the end of the year. Meghji will spend time with family before pursuing new opportunities.
David Levine and Giovanni Cutaia will succeed Meghji as co-heads of the division. Levine currently leads the Americas real estate group. Cutaia serves as president of Blackstone real estate.
The leadership change follows several executive shifts within the group over the past three years. Levine previously expanded the firm’s logistics and data center portfolios. Cutaia’s prior roles include chief operating officer and global head of asset management.
Blackstone identifies the current market as one of the most compelling investment opportunities in years. The firm’s real estate portfolio was valued at $608 billion as of mid-year.