The Saxum Real Estate office in Summit — Courtesy: Saxum
By Joshua Burd
Saxum Real Estate has named a new chief operating officer, tapping a veteran commercial real estate executive with a career that spans more than three decades.
In a news release, the Summit-based firm said David King will look to leverage his experience to increase productivity and streamline processes across its expanding vertically integrated platform. He comes to Saxum from STAG Industrial, a publicly traded real estate investment trust, where he was executive vice president and director of real estate operations.
“We are incredibly excited to welcome David to the Saxum team,” said Anthony Rinaldi, the firm’s founder and managing principal. “Saxum’s growth has been exponential over the last few years and David’s significant experience in helping to scale platforms and portfolios across the country will only further assist Saxum’s continued expansion.”
King did exactly that during his time with STAG, expanding its portfolio to more than 100 million square feet from 14 million square feet, Saxum said, noting that the REIT’s net operating income grew from $40 million at the time of its initial public offering to more than $450 million. Additionally, the company had strategic dispositions totaling more than $870 million in value.
King also pioneered the launch of STAG’s customer solutions team to maintain existing relationships, as well as attracting new users to the platform, while supervising a team of 30 across areas including leasing, management, construction, development, forecasting and analytics, dispositions, customer solutions and market research. He previously spent six years as a managing director at the REIT, leading operations and dispositions for a series of funds controlled by the company and overseeing financial performance and fund returns on assets held by the funds.
King earned degrees in economics and history from the University of Vermont, along with an MPA in public finance and policy analysis at Indiana University. He is a member of the Council of Supply Chain Management Professionals, the International Asset Management Council and the Warehouse Education Resource Council.