Carter Validus Mission Critical REIT and REIT II appointed a new chief executive officer. Michael Seton will immediately replace John Carter as CEO of the two companies. Carter will continue to serve as chairman of the board, while Seton will continue to hold the position of president.
In his new role, Seton will handle all day-to-day operations of the two publicly registered, non-traded REITs. Carter Validus’ two trusts focus exclusively on mission-critical assets across the U.S., especially data center facilities and health-care properties.
Decades of experience
Michael Seton is a co-founder of the external advisory companies and has been with Carter Validus since 2009. He has more than two decades of real estate finance and investment finance experience. Before being appointed to the leadership position, Seton was responsible for investments totaling more than $4 billion in the two primary asset classes CVREIT I and II operate.
“As the chief executive officer, I will focus on all aspects of the day-to-day management of CVREIT and CVREIT II, which currently have combined assets of approximately $3.4 billion,” said Seton in a prepared statement. “The goal of the management team will be to continue to determine and execute on the courses of action that best align each company for success and deliver the desired returns to our stockholders.”
Before joining Carter Validus, Seton worked for Eurohypo AG for 12 years, serving as managing director & division head of the originations group. He led a team of more than 20 people, responsible for real estate financing for private developers, owners, REITs and REOCs. Seton also holds two advisor positions—as a member of BayCare Health System’s finance committee and advisory board member at BBVA Compass. Seton received a bachelor’s degree in economics from Vanderbilt University.
Image courtesy of Carter Validus Mission Critical REIT