Mynd Management Expands Leadership Team and Adds PropTech Expert to Board
OAKLAND, Calif., April 12, 2021 /PRNewswire/ -- Tech-enabled real estate management company Mynd Management is announcing four new strategic executives to its team as the company stands poised for incredible growth in the rapidly expanding single-family rental (SFR) space. There are now more renters than homeowners in roughly half of America's major cities — an increase of more than 20% over 15 years, and a potential new source of returns for real estate investors. But while there are about 180 million Americans who own stocks, only 10.6 million are real estate investors, according to IRS data. That's something Mynd hopes to change by becoming both a tech-enabled real estate management platform and investment manager, serving institutional and retail investors.
Mynd Management has built the SFR industry's first proprietary tech platform, currently managing roughly 7,000 units, around $1.4 B in asset value, across 24+ markets. While most of this volume is made up of retail units, Mynd's new strategic direction includes an increased focus on institutional investors who want to get into the SFR market, but don't know how to do it. To best serve this group of large investors, Mynd will double down on their property management as a service (PMaaS) platform to provide the efficient scale needed by these large investors. Expanding the executive team is part of supporting Mynd's next stage of growth as each of these key additions have experience revolutionizing stale industries and adapting them to become tech-enabled services.
Doug Brien, Mynd's CEO and Co-Founder said: "Real estate is arguably the best investment class out there. The world is changing, and we're working in an asset class that is incredibly attractive. Our vision is to help investors make more data-driven decisions and deploy their capital more intelligently. Each one of these new executives fills a specific gap — and will help Mynd win in this space."
Clelia Warburg Peters, a Venture Partner at Bain Capital Ventures and the President of Warburg Realty who is joining Mynd as a Board member said: "The growth in the SFR space demands new management solutions for both retail and institutional investors, and Mynd is uniquely well-positioned to provide those solutions." Peters will leverage her expertise at the intersection of real estate and technology to help boost Mynd's operation.
Three other executives will join Mynd's leadership team:
"By welcoming in these four talented people, along with the increased institutional demand in the SFR space, we're taking our vision to the next level, and connecting the whole ecosystem in a way that it never has been before," Brien said.
About Mynd Management
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SOURCE Mynd Management
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