John Napoli and Blake Hornick Quoted in Directorship Magazine
“As REITs Near Half-Century Mark Their Governance Structure Evolves”

Real estate partners John Napoli and Blake Hornick were quoted in Directorship Magazine. The article discussed how new government regulations and industry trends including the Dodd-Frank Act’s “say on pay” will alter the world of the real estate investment trust's (REITs) director. Blake noted that “the REIT industry has not yet evolved to the more direct, almost formulaic performance metrics behind compensation, to move in economic indicators.” The article noted that REIT boards have adopted the addition of an independent board of directors in which the CEO is the only insider. John explained that “independent directors, especially those not “bred in the industry,” bring more of an interest in strategic, crisis and succession planning.”