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BrightSpire Capital Announces Appointment of Kim S. Diamond to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
BrightSpire Capital (NYSE: BRSP) has appointed Kim S. Diamond as an independent director, effective October 13, 2021. The board now consists of six directors, five of whom are independent. Ms. Diamond brings over 30 years of experience in commercial real estate and structured finance, previously serving as a founding executive at Kroll Bond Rating Agency and managing director at Standard & Poor’s. Her expertise is expected to enhance the company's strategic direction and risk management.
Positive
Appointment of Kim S. Diamond enhances board diversity and experience.
Ms. Diamond's extensive background in real estate credit is beneficial for business growth.
Negative
Potential continuity concerns may arise due to management changes.
NEW YORK--(BUSINESS WIRE)--
BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced the appointment of Kim S. Diamond, former founding executive of Kroll Bond Rating Agency and managing director at Standard & Poor’s, as an independent director to the Company’s Board of Directors. Following the appointment of Ms. Diamond effective October 13, 2021, the increased Board will now comprise 6 directors, 5 of whom are independent.
“We are pleased to welcome Kim Diamond to the BrightSpire Capital Board of Directors,” said Catherine D. Rice, independent chairwoman of BrightSpire Capital. “Kim’s extensive background in commercial real estate credit and risk oversight will be invaluable to BrightSpire Capital as we continue to grow our business.”
Michael Mazzei, Chief Executive Officer and President at BrightSpire Capital, added, “It is a privilege to have Kim join our Board and enhance its diversity with her deep experience in the commercial real estate and structured finance industry, business development and leadership.”
Background on Ms. Diamond
Ms. Diamond has over 30 years of experience in the commercial real estate capital and structured finance debt capital markets industries. Previously, Ms. Diamond was a Founding Principal and Head of Structuring and Credit at Crescit Capital Strategies, a middle-market, commercial real estate debt fund. Before joining Crescit, Ms. Diamond was a Founding Executive and Senior Managing Director at Kroll Bond Rating Agency, Inc. As a member of the KBRA executive team, Ms. Diamond played a pivotal role in the establishment, growth and ultimate sale of the start-up ratings firm. Prior to joining KBRA, Ms. Diamond was a Managing Director at Standard and Poor’s. As an early member of S&P’s CMBS group, Ms. Diamond participated with other industry veterans in developing the standards and criteria that became the foundation for the US CMBS business.
Ms. Diamond has served on the Board of Governors of the Commercial Real Estate Finance Council (CREFC), where she held positions as Programming Chair, Membership Chair and Treasurer and has been a recipient of the trade association’s prestigious Founder’s Award. She has also served on the Commercial Board of Governors for the Mortgage Bankers Association (MBA). Ms. Diamond received a Bachelor of Arts degree from Cornell University and a Master of Business Administration from Columbia University.
About BrightSpire Capital, Inc.
BrightSpire Capital, Inc. (NYSE: BRSP), formerly Colony Credit Real Estate, Inc. (NYSE: CLNC), is one of the largest publicly traded commercial real estate (CRE) credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE debt investments and net leased properties predominantly in the United States. CRE debt investments primarily consist of first mortgage loans, which we expect to be the primary investment strategy. BrightSpire Capital is organized as a Maryland corporation and taxed as a REIT for U.S. federal income tax purposes. For additional information regarding the Company and its management and business, please refer to www.brightspire.com.
Investor Relations
BrightSpire Capital, Inc. Addo Investor Relations
Lasse Glassen 310-829-5400
Source: BrightSpire Capital, Inc.
FAQ
What is the significance of Kim S. Diamond's appointment at BrightSpire Capital?
Kim S. Diamond's appointment as an independent director brings valuable experience in commercial real estate credit, expected to positively impact BrightSpire Capital's strategy.
When was Kim S. Diamond appointed to BrightSpire Capital's Board?
Kim S. Diamond was appointed to the Board effective October 13, 2021.
How many directors are on BrightSpire Capital's Board after this appointment?
After Kim S. Diamond's appointment, BrightSpire Capital's Board comprises six directors, five of whom are independent.
What experience does Kim S. Diamond bring to BrightSpire Capital?
Kim S. Diamond brings over 30 years of experience in commercial real estate and structured finance, including key roles at Kroll Bond Rating Agency and Standard & Poor’s.
