Javier Bitar Named CFO and Treasurer of Griffin Capital Essential Asset REITs
The boards of directors of Griffin Capital Essential Asset REIT and Griffin Capital Essential Asset REIT II, two publicly registered non-traded real estate investment trusts, appointed Javier Bitar to serve as chief financial officer and treasurer of both companies.
In connection with Bitar’s appointments, Joseph Miller, who served as the chief financial officer of each REIT, resigned from his positions. According to the company, Miller’s resignations will allow him more time to focus on his responsibilities as chief financial officer of Griffin Capital Corporation, the REITs’ sponsor, and other Griffin Capital initiatives.
Bitar has more than 31 years of commercial real estate related accounting and financial experience, including more than 17 years at the management-level.
Prior to joining Griffin Capital Corporation, Bitar served as the chief financial officer of New Pacific Realty Corporation, a real estate investment and development company. He has also served as the proprietor of JB Realty Advisors, a real estate consulting and advisory company, and chief operating officer of Maguire Investments, where he was responsible for overseeing operating and financial matters for the company’s real estate investment and development portfolio.
Bitar graduated magna cum laude from California State University, Los Angeles, with a bachelor of business administration degree and is a certified public accountant in California.
Griffin Capital Essential Asset REIT’s portfolio consists of 76 office and industrial distribution properties totaling 18.9 million rentable square feet representing total REIT capitalization of approximately $3.4 billion. The company was formed in August 2008, and since March 31, 2016, has raised approximately $1.4 billion in investor equity.
Griffin Capital Essential Asset REIT II’s portfolio consists 16 office, industrial, data center, and distribution properties totaling approximately 3.4 million rentable square feet with a total acquisition value of approximately $515 million. The company went effective in July 2014 and has raised $459.3 million in investor equity since inception.
