By Joshua Burd
Denholtz Properties has tapped a veteran of the former Monmouth Real Estate Investment Corp. as its new general counsel, the Red Bank-based firm announced.
Michael Prashad
Michael Prashad, who brings more than 12 years of commercial real estate and corporate legal expertise, will be part of the company’s executive team and oversee all legal matters, including advising on issues relating to corporate governance, securities, joint ventures and real estate transactions. He joins Denholtz after seven years with Holmdel-based Monmouth, which Industrial Logistics Properties Trust recently acquired for some $4 billion.
“Our highly experienced executive team continues to be at the heart of our ability to quickly identify and execute upon real estate investment opportunities,” said Stephen Cassidy, president of Denholtz Properties. “We are confident that Michael’s strategic counsel and demonstrated success will further bolster our ability to capitalize on strategic real estate investments and drive results on behalf of our investors.”
Prashad served as Monmouth’s general counsel and corporate secretary, according to a news release. During his tenure with the real estate investment trust’s executive team, the company’s real estate asset portfolio value grew from around $900 million to $4 billion and its gross leasable area doubled to 26 million square feet.
“It was clear from my first meeting with the Denholtz Properties team that their entrepreneurial spirit and laser-focused vision, combined with decades of experience and execution, have strongly positioned the business for continued growth in the years to come,” Prashad said. “I look forward to working closely with the executive team to further streamline operations and help drive the company’s impressive growth trajectory.”
