Mynd Management Expands Leadership Team and Adds PropTech Expert to Board

OAKLAND, Calif., April 12, 2021 /PRNewswire/ -- Tech-enabled real estate management company Mynd Management is announcing four new strategic executives to its team as the company stands poised for incredible growth in the rapidly expanding single-family rental (SFR) space. There are now more renters than homeowners in roughly half of America's major cities — an increase of more than 20% over 15 years, and a potential new source of returns for real estate investors. But while there are about 180 million Americans who own stocks, only 10.6 million are real estate investors, according to IRS data. That's something Mynd hopes to change by becoming both a tech-enabled real estate management platform and investment manager, serving institutional and retail investors.

Mynd Management has built the SFR industry's first proprietary tech platform, currently managing roughly 7,000 units, around $1.4 B in asset value, across 24+ markets. While most of this volume is made up of retail units, Mynd's new strategic direction includes an increased focus on institutional investors who want to get into the SFR market, but don't know how to do it. To best serve this group of large investors, Mynd will double down on their property management as a service (PMaaS) platform to provide the efficient scale needed by these large investors. Expanding the executive team is part of supporting Mynd's next stage of growth as each of these key additions have experience revolutionizing stale industries and adapting them to become tech-enabled services.

Doug Brien, Mynd's CEO and Co-Founder said: "Real estate is arguably the best investment class out there. The world is changing, and we're working in an asset class that is incredibly attractive. Our vision is to help investors make more data-driven decisions and deploy their capital more intelligently. Each one of these new executives fills a specific gap — and will help Mynd win in this space."

Clelia Warburg Peters, a Venture Partner at Bain Capital Ventures and the President of Warburg Realty who is joining Mynd as a Board member said: "The growth in the SFR space demands new management solutions for both retail and institutional investors, and Mynd is uniquely well-positioned to provide those solutions." Peters will leverage her expertise at the intersection of real estate and technology to help boost Mynd's operation.

Three other executives will join Mynd's leadership team:

• Alejandro Ayestarán is joining as Chief Business Officer. A Stanford University MBA holder, Ayestarán spent the last five years creating and scaling key business functions at automotive sales platform Shift Technologies. Ayestarán's deep understanding of tech-driven growth and go-to-market playbooks makes him an ideal fit to help propel Mynd's platform growth, increasing its accessibility to investors looking for more streamlined ways to invest in real estate.
• Garret Albert is joining as Chief Financial Officer. Albert was previously the VP of Finance at One Medical and holds an MBA from Cornell University. At One Medical, Albert also brought an antiquated industry into a tech-enabled age — which Mynd plans to do with real estate investing.
• David Zanaty is joining as Chief Real Estate Officer. Zanaty will lead institutional strategy and related business expansions. He previously worked at Opendoor and earned an MBA from Northwestern University. Brien describes Zanaty as "a unicorn" after having spent his career in commercial real estate, SFR and, PropTech. Zanaty also previously worked with Brien and Co-Founder Colin Wiel at Waypoint Homes.

"By welcoming in these four talented people, along with the increased institutional demand in the SFR space, we're taking our vision to the next level, and connecting the whole ecosystem in a way that it never has been before," Brien said.

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About Mynd Management Mynd is a full-stack tech-enabled real estate management company serving the $86-billion-plus rental (SFR) sector. Beyond just property management, Mynd also helps both retail and institutional investors with buying and selling, financing, insurance, and more. Leveraging its proprietary technology and real time data, Mynd enables efficient operations at scale and has allowed for rapid market expansion into 24 markets. With 7000 units under management, Mynd is the first prop tech company of its kind to unlock the potential of a PMaaS architecture which combines technology and expert teams to deliver best-in-class services for investors. Learn more about Mynd at mynd.co.

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SOURCE Mynd Management