Public Storage Inc., a self-storage real estate investment trust (REIT) and property-management firm, has announced that its current chief financial officer (CFO), Tom Boyle, will also serve as chief investment officer (CIO). Boyle’s new responsibilities include overseeing facility development, redevelopment, acquisitions, asset and third-party management, according to a press release.
Boyle joined Public Storage in 2016, serving as CFO for operations until his appointment as CFO in 2019. Prior to joining the company, he worked for Morgan Stanley since 2005, where he served as an analyst, then executive director of equity and debt capital markets. He earned a bachelor’s degree from the University of Notre Dame.
“We are pleased to have Tom serve as the company’s chief investment officer as well as our chief financial officer,” said Joe Russell, Public Storage CEO and president. “Tom is an exceptional leader, and has been instrumental in diversifying our company’s capital structure and laying a strong financial foundation for growth. Tom has also played a critical role in our capital allocation and investment decisions. As chief investment officer, Tom will continue to leverage his deep experience in finance and real estate and our industry-leading balance sheet to advance our four-factor external growth strategy to create long-term value for our shareholders.”
Based in Glendale, California, Public Storage has interests in 2,836 self-storage facilities in 40 states, with approximately 202 million net rentable square feet. It holds a 35% interest in Shurgard, which has 259 facilities in seven European countries, with approximately 14 million net rentable square feet.
Source: Valdosta Daily Times, Tom Boyle, Public Storage Chief Financial Officer, to Also Serve as Chief Investment Officer