Former BlackRock Head of U.S. Real Estate Private Equity will lead expansion of Buckingham's institutional fund management platform
INDIANAPOLIS, April 18, 2023 /PRNewswire/ -- Buckingham, a national vertically integrated real estate development and investment company, announced today that Benjamin J. Young has joined Buckingham as CIO, Managing Director effective April 3, 2023. Mr. Young will head Buckingham's asset management and investment division as the company grows and leverages its successes in institutional capital raising, client engagement and investment performance to build an industry-leading institutional real estate investment platform. Buckingham is an award-winning developer, owner, manager and investor in multifamily and urban mixed-use real estate across the U.S. with a focus on Midwest and Sunbelt markets.
"Ben's deep investment expertise, acquired over three decades at some of the world's largest private equity real estate firms, makes him uniquely qualified to lead the strategic expansion of our company's institutional real estate investment business," said Bradley B. Chambers, Founder and CEO of Buckingham. "Buckingham continues to evolve at a rapid pace. Over the last 39 years we have progressed from ground-up multifamily to becoming a full service, vertically integrated real estate investment company. Ben's broad experience will play a valuable role in developing our fund model, increasing outreach, and deepening relationships with new and existing institutional investors."
"Buckingham is widely known in the real estate business as an outstanding builder, manager and investor with an impressive track record that has become increasingly attractive to institutional and third-party capital," said Ben Young. "With the success of its value-add Multifamily Funds, Buckingham is poised to become a leading platform for institutional real estate investors, and I believe the company is also well-positioned to take advantage of distressed opportunities in today's real estate market."
Mr. Young has been a prominent real estate private equity investor and asset manager for more than three decades. Most recently, he was a Managing Director at BlackRock in New York for 9 years and a senior member of the $100 billion Real Assets Group. As Head of BlackRock's U.S. Real Estate Private Equity business, he was responsible for the growth and management of $11 billion in investments ranging across core, value-add and opportunistic investments, and raised the firm's first closed-end, value-add fund.
Prior to BlackRock, Mr. Young was at Strategic Value Partners, a $17 billion private equity and hedge fund focused on distressed debt and private equity. As Managing Director, he was a senior member responsible for overseeing the global real estate group's investments in North America, Western Europe and Japan.
Previously, at Deutsche Bank/Bankers Trust, he was Global Portfolio Manager – Global Real Estate Private Equity Group, responsible for $7 billion of gross real estate assets and capital raising. He began his career at Kidder, Peabody & Co. as a Financial Analyst – Real Estate Group.
Mr. Young holds an MBA in Finance from Columbia Business School, Columbia University, and a B.S. Degree in Economics, with a dual major in Finance and Real Estate from the Wharton School, University of Pennsylvania. He is a visiting lecturer in the real estate department at the University of Michigan.
About Buckingham Companies Founded in 1984, Buckingham Companies is a fully integrated real estate investment firm specializing in the development, acquisition, management, and construction of multifamily, mixed-use, commercial and hospitality projects across the United States. Buckingham has managed over $4 billion of real estate assets comprising over 125 properties, more than 28 million square feet, and over 25,000 rental units nationwide. The Indianapolis-based company has nearly 400 employees. Additionally, the affiliated Buckingham Foundation annually supports more than 50 nonprofit and civic organizations through philanthropic outreach in the areas of affordable housing, community and economic development, and arts and culture. For more information, visit www.buckingham.com.