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Thomas to Succeed Kathleen McCarthy Baldwin as Chair July 1
(WASHINGTON, D.C.) — The Real Estate Roundtable’s (RER) Board of Directors has elected Owen D. Thomas (Chairman and Chief Executive Officer, BXP) to begin his three-year term as Roundtable Chair on July 1, 2026. He succeeds Kathleen McCarthy Baldwin (Former Global Head of Real Estate, Blackstone), who has served as Roundtable Chair since July 1, 2024.
“I am honored to serve as Chair of The Real Estate Roundtable and to build on the organization’s longstanding tradition of fact-based, bipartisan advocacy on national public policy issues,” said Thomas. “Real estate plays a vital role in communities across the country by supporting jobs, investment, housing, and economic growth. Today we are in a time of significant economic uncertainty resulting from inflation, global tensions, the growing use of artificial intelligence and the reimagining of how business and people use work and living space. I look forward to working with our members and staff to advance modern, sustainable policies that support investment, encourage development, and help the industry respond to the country’s evolving needs for how people live, work, shop, and connect.”
Thomas is a recognized leader in the real estate industry with more than 35 years of executive leadership, strategic planning, management and international experience, as well as substantial experience in financial and capital markets. Mr. Thomas has served as the CEO and a director of BXP since April 2013, and was appointed Chairman of the Board in May 2022.
“Kathleen has been an exceptional leader for The Real Estate Roundtable, and I am honored to succeed her as Chair,” Thomas added. “Her steady leadership, strategic insight, and deep commitment to the industry have helped position the organization to address some of the most important policy issues facing commercial real estate and the broader economy.”
Outgoing Chair Kathleen McCarthy Baldwin said, “It has been a privilege to serve as Chair of The Real Estate Roundtable. Over the past two years, The Roundtable successfully navigated major housing and tax legislation before Congress, advanced significant policy ideas related to energy use in buildings, and helped policymakers address challenges associated with capital investment, both foreign and domestic. Owen is an extraordinary leader who pairs deep real estate experience with policy savvy. I am confident he will be an outstanding Chair and a strong voice for the real estate industry in Washington.”
Roundtable President and CEO Jeffrey D. DeBoer said, “Kathleen has provided exceptional leadership to The Real Estate Roundtable. She brought a thoughtful, principled, and forward-looking perspective to our work, and her guidance helped strengthen The Roundtable’s engagement on key issues affecting commercial real estate.”
DeBoer added, “We are thrilled to welcome Owen Thomas as our new Chair. Owen is one of the industry’s most respected leaders, with broad experience across real estate, capital markets, and global business. He has long been a valued member of The Roundtable’s Board, and his leadership will be instrumental as we continue advancing practical policy solutions that support investment, job creation, and healthy communities nationwide.”
Also joining The Roundtable’s Board of Directors as of July 1:
- Ben Brown, Managing Partner | Co-President, Brookfield Properties
- Sean Burton, Chairman and CEO, Cityview
- Giovanni Cutaia, President of Blackstone Real Estate, Blackstone
- Dan Letter, CEO, Prologis
- Benjamin Schall, CEO & President, AvalonBay Communities, Inc.
- Leslie Teskey, Managing Principal/Tenant Representative, Cresa; 2026 President, CREW Network
- Willy Walker, Chairman & CEO, Walker & Dunlop; Representative, Mortgage Bankers Association
The Roundtable also thanks the following board members for their years of service as they rotate off the Board as of July 1:
- Brian Kingston, Managing Partner and Chief Executive Officer, Brookfield Property Partners
- Jodie McLean, Chief Executive Officer, EDENS
- Mark Parrell, Chief Executive Officer, President, Equity Residential
- Matthew G. Rocco, Sr., President, Colliers, Immediate Past Chair, Mortgage Bankers Association
- Alexander D. Thomson, FRICS, Founder, Prevail Consultants, Immediate Past Chair, NAIOP, the Commercial Real Estate Development Association
See the complete list of the FY2027 Board of Directors.
About Owen Thomas
Owen D. Thomas is the Chairman and CEO of BXP. He was a Director of Lehman Brothers Holdings from 2012 to 2025 and served as its first Chairman from 2012 until 2013 when he joined BXP. Prior to Lehman, Mr. Thomas was with Morgan Stanley for 24 years serving in a number of different roles, business units and locations, including Chief Executive Officer of Morgan Stanley Asia and Chairman of Mitsubishi UFJ Morgan Stanley Securities, while living in Hong Kong from 2008 until 2011. He also held the roles of President of Morgan Stanley Investment Management, Head of Morgan Stanley Real Estate and served on Morgan Stanley’s Management Committee from 2005 until 2011.
Mr. Thomas is Chair of The Real Estate Roundtable, a member of the Advisory Board of Governors of the National Association of Real Estate Investment Trusts, a member of the Economic Club of New York, and a member of the Board of Directors of The Doe Fund and the Board of Trustees for Carnegie Hall. He is former Chairman of the Urban Land Institute and of the Pension Real Estate Association. He attended and is Chairman of the Board of Trustees of Woodberry Forest School and received a B.S. in Mechanical Engineering from the University of Virginia and an M.B.A. from Harvard Business School.