Essential Properties Realty Trust makes executive changes

Essential Properties Realty Trust, Inc. (NYSE: EPRT) announced several executive appointments and promotions, including a leadership departure, according to a press release.

CEO Pete Mavoides signed a new employment contract with a term of approximately four years. Chief Operating Officer Max Jenkins was promoted to the additional role of President, and Chief Financial Officer Rob Salisbury was promoted to also serve as Chief Strategy Officer.

Chief Investment Officer AJ Peil has departed the company after approximately a decade. Craig Vachris has been appointed to fill the Chief Investment Officer role, where he will lead the asset management and credit underwriting departments.

Vachris brings more than 20 years of experience in commercial real estate and net lease investing. He most recently served as Chief Credit Officer at W. P. Carey, where he oversaw credit and underwriting across North America and Europe. He previously held roles at Sovereign Investment Company, Gemini Realty Advisors, and ABN AMRO, and served as a Lieutenant in the U.S. Army Reserve. He holds a BA from Brown University and a master's degree in real estate finance from New York University.

As of June 30, 2026, Essential Properties Realty Trust's portfolio consisted of 2,493 freestanding net lease properties across 48 states, with a weighted average lease term of 14.3 years and a weighted average rent coverage ratio of 3.5x. The portfolio was 99.6% leased to tenants operating 715 different concepts.

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